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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating net revenues:        
Oil, natural gas, and NGL sales $ 1,007,951,000 $ 189,963,000 $ 2,977,125,000 $ 420,157,000
Operating expenses:        
Lease operating expense 45,063,000 11,560,000 122,959,000 28,649,000
Severance and ad valorem taxes 85,029,000 9,205,000 234,203,000 23,622,000
Exploration 4,355,000 1,513,000 6,436,000 5,156,000
Depreciation, depletion, and amortization 212,070,000 35,604,000 601,449,000 89,433,000
Abandonment and impairment of unproved properties 0 0 17,975,000 2,215,000
Unused commitments 193,000 3,364,000 2,700,000 7,692,000
Bad debt expense (recovery) (11,000) 279,000 (7,000) 279,000
Merger transaction costs 1,814,000 5,580,000 23,766,000 27,121,000
General and administrative expense (including $10,244, $2,289, $24,469, and $6,096, respectively, of stock-based compensation) 37,296,000 11,724,000 102,682,000 33,119,000
Total operating expenses 479,505,000 96,097,000 1,348,962,000 261,393,000
Other income (expense):        
Derivative gain (loss) 9,281,000 (36,224,000) (358,862,000) (133,613,000)
Interest expense (7,468,000) (3,025,000) (24,650,000) (6,685,000)
Gain (loss) on property transactions, net (938,000) 951,000 15,859,000 951,000
Other income 12,769,000 687,000 17,865,000 964,000
Total other income (expense) 13,644,000 (37,611,000) (349,788,000) (138,383,000)
Income from operations before income taxes 542,090,000 56,255,000 1,278,375,000 20,381,000
Income tax expense (136,338,000) (15,596,000) (312,163,000) (5,160,000)
Net income, basic 405,752,000 40,659,000 966,212,000 15,221,000
Net income, diluted 405,752,000 40,659,000 966,212,000 15,221,000
Comprehensive income $ 405,752,000 $ 40,659,000 $ 966,212,000 $ 15,221,000
Net income per common share:        
Basic (in dollars per share) $ 4.77 $ 1.32 $ 11.37 $ 0.55
Diluted (in dollars per share) $ 4.74 $ 1.31 $ 11.30 $ 0.55
Weighted-average common shares outstanding        
Basic (in shares) 85,069 30,849 84,968 27,485
Diluted (in shares) 85,554 31,138 85,495 27,839
Midstream operating expense        
Operating expenses:        
Operating expenses $ 9,214,000 $ 3,163,000 $ 22,395,000 $ 11,314,000
Gathering, transportation, and processing        
Operating expenses:        
Operating expenses $ 84,482,000 $ 14,105,000 $ 214,404,000 $ 32,793,000