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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating net revenues:        
Oil and natural gas sales $ 1,035,916,000 $ 1,007,951,000 $ 2,352,464,000 $ 2,977,125,000
Operating expenses:        
Lease operating expense 94,660,000 45,063,000 191,728,000 122,959,000
Severance and ad valorem taxes 83,437,000 85,029,000 188,242,000 234,203,000
Exploration 429,000 4,355,000 1,546,000 6,436,000
Depreciation, depletion, and amortization 320,469,000 212,070,000 754,558,000 601,449,000
Abandonment and impairment of unproved properties 0 0 0 17,975,000
Unused commitments 3,942,000 193,000 4,696,000 2,700,000
Bad debt expense (recovery) (24,000) (11,000) 559,000 (7,000)
Transaction costs 28,450,000 1,814,000 60,077,000 23,766,000
General and administrative expense, including $8,302, $10,244, $25,577, and $24,469, respectively, of stock-based compensation 36,154,000 37,296,000 106,553,000 102,682,000
Total operating expenses 656,718,000 479,505,000 1,552,765,000 1,348,962,000
Other income (expense):        
Derivative gain (loss) (150,661,000) 9,281,000 (120,574,000) (358,862,000)
Interest expense (76,467,000) (7,468,000) (92,669,000) (24,650,000)
Gain (loss) on property transactions, net 0 (938,000) (254,000) 15,859,000
Other income 17,288,000 12,769,000 34,356,000 17,865,000
Total other income (expense) (209,840,000) 13,644,000 (179,141,000) (349,788,000)
Income from operations before income taxes 169,358,000 542,090,000 620,558,000 1,278,375,000
Income tax expense (29,686,000) (136,338,000) (139,138,000) (312,163,000)
Net income, basic 139,672,000 405,752,000 481,420,000 966,212,000
Net income, diluted $ 139,672,000 $ 405,752,000 $ 481,420,000 $ 966,212,000
Net income per common share:        
Basic (in dollars per share) $ 1.57 $ 4.77 $ 5.75 $ 11.37
Diluted (in dollars per share) $ 1.56 $ 4.74 $ 5.70 $ 11.30
Weighted-average common shares outstanding:        
Basic (in shares) 88,911 85,069 83,700 84,968
Diluted (in shares) 89,631 85,554 84,468 85,495
Midstream operating expense        
Operating expenses:        
Operating expense $ 11,661,000 $ 9,214,000 $ 35,041,000 $ 22,395,000
Gathering, transportation, and processing        
Operating expenses:        
Operating expense $ 77,540,000 $ 84,482,000 $ 209,765,000 $ 214,404,000