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Segment Reporting | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Reporting Disclosure | Note 10 - Segment Reporting The Company has one reportable segment: the oil, gas, and NGL exploration and production segment (“E&P Segment”), which operates exclusively in the United States. The E&P Segment constitutes all of the consolidated entity and the accompanying condensed consolidated financial statements and the notes to the accompanying condensed consolidated financial statements are representative of such amounts for the E&P Segment. The Company’s Chief Operating Decision Maker (“CODM”) is the President and Chief Executive Officer. The CODM uses net income as presented on the accompanying statements of operations to measure E&P Segment profit or loss, and to evaluate income generated from E&P Segment assets in deciding whether to reinvest profits into operational activities or to use profits for other purposes, such as debt reduction, acquisitions, or the Company’s Stock Repurchase Program. Additionally, net income is used in assessing budget versus actual results and in benchmarking to the Company’s competitors. The following table summarizes the results of the Company’s segment revenue, significant expenses, and net income during the periods presented:
|  |  |  |  |  | For the Three Months Ended March 31,
|  |  |  |  |  | 2025 |  | 2024
|  |  |  |  |  | (in thousands)
Total operating revenues and other income |  |  |  |  |  | $ | 844,544 |  |  | $ | 559,870 |
Less: |  |  |  |  |  |  |  |
Lease operating expense |  |  |  |  |  | 108,863 |  |  | 73,105 |
Transportation costs |  |  |  |  |  | 69,555 |  |  | 27,317 |
Production taxes |  |  |  |  |  | 36,842 |  |  | 25,145 |
Ad valorem tax expense |  |  |  |  |  | 9,813 |  |  | 11,808 |
Depletion, depreciation, and amortization |  |  |  |  |  | 269,900 |  |  | 166,188 |
Exploration |  |  |  |  |  | 11,763 |  |  | 18,581 |
General and administrative |  |  |  |  |  | 39,339 |  |  | 30,178 |
Net derivative loss |  |  |  |  |  | 17,216 |  |  | 28,145 |
Other operating expense, net |  |  |  |  |  | 4,965 |  |  | 1,008 |
Interest expense |  |  |  |  |  | 44,373 |  |  | 21,873 |
Interest income |  |  |  |  |  | (113) |  |  | (6,770) |
Other non-operating expense |  |  |  |  |  | 27 |  |  | 24 |
Income tax expense |  |  |  |  |  | 49,732 |  |  | 32,069 |
E&P Segment net income |  |  |  |  |  | $ | 182,269 |  |  | $ | 131,199 |
___________________________________________ Note: There are no reconciling items between net income presented on the accompanying statements of operations and E&P Segment net income.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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