XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.25.2

SUBSEQUENT EVENTS | 6 Months Ended
--- | ---
Jun. 30, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Non-Core DJ Basin Divestitures In July 2025, we executed two Purchase and Sale Agreements (each a “PSA”) with two different buyers to divest certain non-core DJ Basin assets. These transactions are expected to close around the end of the third quarter. We will receive an aggregate of $435 million in cash consideration, subject to certain customary purchase price adjustments and closing conditions set forth in each PSA. Capital Return Program In August 2025, our Board reinstated a capital return strategy of allocating 50% of Adjusted Free Cash Flow, after the base dividend, which remains $0.50 per share quarterly, to share buybacks on an annual basis. In conjunction with this decision, our Board increased the amount authorized for repurchases under our existing stock repurchase program to $750 million, pursuant to which we may, from time to time, acquire shares of our common stock in the open market, in privately negotiated transactions, or through block trades, derivative transactions, or purchases made in accordance with Rule 10b-18 and Rule 10b5-1 of the Exchange Act. The stock repurchase program does not have a termination date, does not require any specific number of shares to be acquired, and can be modified or discontinued by our Board at any time. Future dividend payments and share buybacks must be approved by our Board and will depend on our liquidity, financial requirements, and other factors considered relevant by our Board.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration