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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating net revenues:        
Oil, natural gas, and NGL sales $ 1,151,364,000 $ 156,035,000 $ 1,969,174,000 $ 230,194,000
Operating expenses:        
Lease operating expense 41,877,000 11,358,000 77,896,000 17,089,000
Severance and ad valorem taxes 85,870,000 9,813,000 149,174,000 14,417,000
Exploration 1,553,000 3,547,000 2,081,000 3,643,000
Depreciation, depletion, and amortization 204,519,000 35,006,000 389,379,000 53,829,000
Abandonment and impairment of unproved properties 0 2,215,000 17,975,000 2,215,000
Unused commitments 1,731,000 4,328,000 2,507,000 4,328,000
Bad debt expense 4,000 0 4,000 0
Merger transaction costs 1,418,000 18,246,000 21,952,000 21,541,000
General and Administrative Expense 29,666,000 12,144,000 65,386,000 21,395,000
Total operating expenses 453,626,000 114,624,000 869,457,000 165,296,000
Other income (expense):        
Derivative loss (72,650,000) (73,970,000) (368,143,000) (97,389,000)
Interest expense (8,116,000) (3,241,000) (17,182,000) (3,660,000)
Gain on property transactions, net 0 0 16,797,000 0
Other income 4,313,000 89,000 5,096,000 277,000
Total other expense (76,453,000) (77,122,000) (363,432,000) (100,772,000)
Income (loss) from operations before income taxes 621,285,000 (35,711,000) 736,285,000 (35,874,000)
Income tax benefit (expense) (152,464,000) 10,392,000 (175,825,000) 10,436,000
Net income (loss), basic 468,821,000 (25,319,000) 560,460,000 (25,438,000)
Net income (loss), diluted 468,821,000 (25,319,000) 560,460,000 (25,438,000)
Comprehensive income (loss) $ 468,821,000 $ (25,319,000) $ 560,460,000 $ (25,438,000)
Net income (loss) per common share:        
Basic (in dollars per share) $ 5.52 $ (0.83) $ 6.60 $ (0.99)
Diluted (in dollars per share) $ 5.48 $ (0.83) $ 6.56 $ (0.99)
Weighted-average common shares outstanding        
Basic (in shares) 84,993 30,655 84,917 25,774
Diluted (in shares) 85,554 30,655 85,453 25,774
Midstream operating expense        
Operating expenses:        
Operating expenses $ 7,469,000 $ 4,246,000 $ 13,181,000 $ 8,151,000
Gathering, transportation, and processing        
Operating expenses:        
Operating expenses $ 79,519,000 $ 13,721,000 $ 129,922,000 $ 18,688,000