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Revenue from Contracts with Customers | 3 Months Ended
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Mar. 31, 2026
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Note 3 - Revenue from Contracts with Customers The Company recognizes its share of revenue from the sale of produced oil, gas, and NGLs from its Permian Basin, DJ Basin, South Texas, and Uinta Basin assets. Oil, gas, and NGL production revenue presented within the accompanying statements of operations reflects revenue generated from contracts with customers. The table below presents oil, gas, and NGL production revenue by product type for each of the Company’s operating areas. The Permian Basin and DJ Basin amounts include activity related to the assets acquired in the Civitas Merger, which is reflected only for the portion of the quarter occurring after January 30, 2026.
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |
| (in millions) |  |  |  |
Oil production revenue |  |  |  |  |  |  |
Permian Basin | $ | 700 |  | $ | 336 |  |  |  |
DJ Basin | 267 |  | — |  |  |  |
South Texas | 96 |  | 117 |  |  |  |
Uinta Basin | 199 |  | 205 |  |  |  |
Total | 1,262 |  | 658 |  |  |  |
Gas production revenue |  |  |  |  |  |  |
Permian Basin | 13 |  | 56 |  |  |  |
DJ Basin | 44 |  | — |  |  |  |
South Texas | 60 |  | 54 |  |  |  |
Uinta Basin | 7 |  | 9 |  |  |  |
Total | 124 |  | 120 |  |  |  |
NGL production revenue |  |  |  |  |  |  |
Permian Basin | 16 |  | — |  |  |  |
DJ Basin | 31 |  | — |  |  |  |
South Texas | 44 |  | 61 |  |  |  |
Uinta Basin | — |  | — |  |  |  |
Total | 91 |  | 61 |  |  |  |
Oil, Gas, and NGL production revenue |  |  |  |  |  |  |
Permian Basin | 729 |  | 393 |  |  |  |
DJ Basin | 342 |  | — |  |  |  |
South Texas | 200 |  | 233 |  |  |  |
Uinta Basin | 206 |  | 214 |  |  |  |
Total | $ | 1,477 |  | $ | 840 |  |  |  |
Relative percentage of total Oil, Gas, and NGL production revenue |  |  |  |  |  |  |
Permian Basin | 49% |  | 47% |  |  |  |
DJ Basin | 23% |  | —% |  |  |  |
South Texas | 14% |  | 28% |  |  |  |
Uinta Basin | 14% |  | 25% |  |  |  |
As of March 31, 2026, there were no material unsatisfied or partially unsatisfied performance obligations. Accrued oil, gas, and NGL production revenue included within the accompanying balance sheets as of March 31, 2026, and December 31, 2025, was $699 million and $193 million, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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