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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting Disclosure | SEGMENT REPORTING We report our operations in one reportable upstream segment, which is engaged in the acquisition, development, and production of crude oil and associated liquids-rich natural gas in the DJ Basin in Colorado and the Permian Basin in Texas and New Mexico. The DJ Basin and the Permian Basin are operating segments of the Company that we aggregate into the upstream segment due to the similar nature of these operations that are solely focused in the U.S. The upstream segment derives revenue from the sale of produced crude oil, natural gas, and NGL. We consider our midstream functions as ancillary to our upstream segment. Our chief operating decision maker (“CODM”) is our Chief Executive Officer. The accounting policies of the upstream segment are the same as those described in Note 1 - Summary of Significant Accounting Policies. The measure of profit or loss that the CODM uses to assess performance and allocate resources for the upstream segment is Adjusted EBITDAX. Adjusted EBITDAX is defined as earnings before interest, income taxes, depreciation, depletion, and amortization, exploration expense, and other non-cash and non-recurring charges. The measure of segment assets is reported on the accompanying consolidated balance sheets as total consolidated assets. The CODM uses Adjusted EBITDAX to evaluate income generated from segment assets in deciding whether to reinvest profits into the upstream segment or into other activities, such as for acquisitions or to return capital to stockholders through a combination of dividends and/or share repurchases. Adjusted EBITDAX for the years ended December 31, 2024, 2023, and 2022 was $3.7 billion, $2.4 billion, and $2.3 billion, respectively. As we disclose a single reportable segment, total operating net revenues for the upstream segment are reported in our consolidated statements of operations, segment assets are reported in our consolidated balance sheets, and capital expenditures are reported in our consolidated statements of cash flows. The CODM is regularly provided with only the consolidated expenses as noted on the face of the consolidated statements of operations. Significant segment expenses included in Adjusted EBITDAX are lease operating expense, midstream operating expense, gathering, transportation, and processing, severance and ad valorem taxes, general and administrative expenses, and derivative cash settlement gain (loss). The following table presents a reconciliation of reportable segment Adjusted EBITDAX to income from operations before income taxes (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Adjusted EBITDAX | $ | 3,651,621 |  |  | $ | 2,369,190 |  |  | $ | 2,347,585 |
Exploration | (14,322) |  |  | (2,178) |  |  | (6,981) |
Depreciation, depletion, and amortization | (2,056,427) |  |  | (1,171,192) |  |  | (816,446) |
Abandonment and impairment of unproved properties | — |  |  | — |  |  | (17,975) |
Unused commitments(1) | (1,730) |  |  | (5,013) |  |  | (3,641) |
Transaction costs | (31,419) |  |  | (84,328) |  |  | (24,683) |
Stock-based compensation(2) | (48,272) |  |  | (34,931) |  |  | (31,367) |
Non-recurring general and administrative expense | — |  |  | — |  |  | (18,037) |
Derivative gain (loss), net | 37,490 |  |  | 9,307 |  |  | (335,160) |
Derivative cash settlement (gain) loss, net | (6,435) |  |  | 68,246 |  |  | 576,802 |
Interest expense | (456,303) |  |  | (182,740) |  |  | (32,199) |
Interest income(3) | 11,058 |  |  | 33,347 |  |  | — |
Gain (loss) on property transactions, net | (2,566) |  |  | (254) |  |  | 15,880 |
Income from operations before income taxes | $ | 1,082,695 |  |  | $ | 999,454 |  |  | $ | 1,653,778 |
_________________________ (1)Included as a portion of other operating expense in the accompanying consolidated statements of operations. (2)Included as a portion of general and administrative expense in the accompanying consolidated statements of operations. (3)Included as a portion of other income in the accompanying consolidated statements of operations.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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