XML 18 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating net revenues:        
Total operating net revenues $ 1,312,694 $ 660,526 $ 2,641,897 $ 1,316,548
Operating expenses:        
Lease operating expense 126,606 51,230 258,071 97,068
Severance and ad valorem taxes 101,913 52,443 203,819 104,805
Exploration 1,340 546 12,874 1,117
Depreciation, depletion, and amortization 521,090 232,786 987,930 434,089
Transaction costs 7,877 31,145 30,597 31,627
General and administrative expense (including $12,262, $9,895, $23,461, and $17,275, respectively, of stock-based compensation) 59,135 33,541 117,013 70,399
Other operating expense 1,458 1,199 9,024 1,337
Total operating expenses 925,827 481,082 1,828,198 896,047
Other income (expense):        
Derivative gain (loss), net 7,578 4,927 (102,102) 30,087
Interest expense (114,897) (8,753) (224,683) (16,202)
Loss on property transactions, net 0 (13) (1,430) (254)
Other income 3,434 8,045 8,338 17,068
Total other income (expense) (103,885) 4,206 (319,877) 30,699
Income from operations before income taxes 282,982 183,650 493,822 451,200
Income tax expense (66,993) (44,363) (102,012) (109,452)
Net income, basic 215,989 139,287 391,810 341,748
Net income, diluted $ 215,989 $ 139,287 $ 391,810 $ 341,748
Earnings per common share:        
Basic (in dollars per share) $ 2.17 $ 1.73 $ 3.92 $ 4.22
Diluted (in dollars per share) $ 2.15 $ 1.72 $ 3.88 $ 4.18
Weighted-average common shares outstanding:        
Basic (in shares) 99,426 80,393 100,062 81,052
Diluted (in shares) 100,245 81,144 100,865 81,824
Crude oil, natural gas, and NGL sales        
Operating net revenues:        
Total operating net revenues $ 1,311,532 $ 658,840 $ 2,639,288 $ 1,313,681
Midstream operating expense        
Operating net revenues:        
Total operating net revenues 1,162 1,686 2,609 2,867
Operating expenses:        
Operating expense 11,939 13,319 25,500 23,380
Gathering, transportation, and processing        
Operating expenses:        
Operating expense $ 94,469 $ 64,873 $ 183,370 $ 132,225