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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.