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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 69,000 $ 76,000
Accounts receivable, net:    
Crude oil, natural gas, and NGL sales 587,000 646,000
Joint interest and other 138,000 125,000
Derivative assets 174,000 67,000
Prepaid expenses and other 82,000 74,000
Total current assets 1,050,000 988,000
Property and equipment (successful efforts method):    
Proved properties 18,328,000 16,897,000
Less: accumulated depreciation, depletion, and amortization (5,212,000) (4,288,000)
Total proved properties, net 13,116,000 12,609,000
Unproved properties 462,000 631,000
Wells in progress 543,000 506,000
Other property and equipment, net of accumulated depreciation of $8 million in 2025 and $9 million in 2024 57,000 48,000
Total property and equipment, net 14,178,000 13,794,000
Derivative assets 12,000 17,000
Other noncurrent assets 163,000 145,000
Total assets 15,403,000 14,944,000
Current liabilities:    
Accounts payable and accrued expenses 622,000 561,000
Severance and ad valorem taxes payable 283,000 323,000
Crude oil, natural gas, and NGL revenue distribution payable 610,000 702,000
Derivative liability 39,000 22,000
Deferred acquisition consideration 0 479,000
Other liabilities 129,000 118,000
Total current liabilities 1,683,000 2,205,000
Long-term liabilities:    
Debt, net 5,388,000 4,494,000
Ad valorem taxes 129,000 294,000
Derivative liability 15,000 13,000
Deferred income tax liabilities, net 891,000 801,000
Asset retirement obligations 384,000 399,000
Other long-term liabilities 119,000 109,000
Total liabilities 8,609,000 8,315,000
Commitments and contingencies (Note 6)
Stockholders’ equity:    
Preferred stock, $.01 par value, 25,000,000 shares authorized, none outstanding 0 0
Common stock, $.01 par value, 225,000,000 shares authorized, 92,596,829 and 93,933,857 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 5,000 5,000
Additional paid-in capital 5,030,000 5,095,000
Retained earnings 1,759,000 1,529,000
Total stockholders’ equity 6,794,000 6,629,000
Total liabilities and stockholders’ equity $ 15,403,000 $ 14,944,000