XML 17 R4.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating net revenues:        
Total operating net revenues $ 1,057,000 $ 1,313,000 $ 2,251,000 $ 2,642,000
Operating expenses:        
Lease operating expense 158,000 127,000 332,000 258,000
Severance and ad valorem taxes 75,000 102,000 164,000 204,000
Exploration 3,000 2,000 6,000 13,000
Depreciation, depletion, and amortization 501,000 521,000 946,000 988,000
Transaction costs 0 8,000 6,000 31,000
General and administrative expense 53,000 59,000 110,000 117,000
Other operating expense 2,000 1,000 6,000 8,000
Total operating expenses 887,000 926,000 1,766,000 1,828,000
Other income (expense):        
Derivative gain (loss), net 104,000 8,000 156,000 (102,000)
Interest expense (114,000) (115,000) (221,000) (225,000)
Other, net 2,000 3,000 (11,000) 7,000
Total other expense (8,000) (104,000) (76,000) (320,000)
Income from operations before income taxes 162,000 283,000 409,000 494,000
Income tax expense (38,000) (67,000) (99,000) (102,000)
Net income, basic 124,000 216,000 310,000 392,000
Net income, diluted $ 124,000 $ 216,000 $ 310,000 $ 392,000
Earnings per common share:        
Basic (in dollars per share) $ 1.34 $ 2.17 $ 3.33 $ 3.92
Diluted (in dollars per share) $ 1.34 $ 2.15 $ 3.33 $ 3.88
Weighted-average common shares outstanding:        
Basic (in shares) 92,588,030 99,425,524 93,107,102 100,061,694
Diluted (in shares) 92,670,914 100,244,878 93,218,041 100,864,694
Crude oil, natural gas, and NGL sales        
Operating net revenues:        
Total operating net revenues $ 1,054,000 $ 1,311,000 $ 2,246,000 $ 2,639,000
Midstream operating expense        
Operating net revenues:        
Total operating net revenues 3,000 2,000 5,000 3,000
Operating expenses:        
Operating expense 12,000 12,000 26,000 26,000
Gathering, transportation, and processing        
Operating expenses:        
Operating expense $ 83,000 $ 94,000 $ 170,000 $ 183,000