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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table summarizes the results of the Company’s segment revenue, significant expenses, and net income (loss) during the periods presented:

						For the Three Months Ended March 31,
						2026						2025
						(in millions)
Total operating revenues and other income						$	1,479					$	845
Less:
Lease operating expense						209						109
Transportation costs						122						70
Production taxes						81						37
Ad valorem tax expense						16						10
Depletion, depreciation, and amortization						432						270
Exploration						26						12
General and administrative						174						39
Net derivative loss						697						17
Other operating expense						20						5
Interest expense						113						44
Interest income (1)						(4)						—
Other non-operating expense						3						—
Income tax expense (benefit)						(75)						50
E&P Segment net income (loss)						$	(335)					$	182

___________________________________________

Note: There are no reconciling items between net income (loss) presented in the accompanying statements of operations and E&P Segment net income (loss).

(1)    Interest income is included in the other non-operating income, net line item on the accompanying statements of operations.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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