XML 16 R2.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 56,000 $ 76,000
Accounts receivable, net:    
Crude oil, natural gas, and NGL sales 523,000 646,000
Joint interest and other 113,000 125,000
Derivative assets 169,000 67,000
Prepaid expenses and other 84,000 74,000
Total current assets 945,000 988,000
Property and equipment (successful efforts method):    
Proved properties 18,924,000 16,897,000
Less: accumulated depreciation, depletion, and amortization (5,663,000) (4,288,000)
Total proved properties, net 13,261,000 12,609,000
Unproved properties 318,000 631,000
Wells in progress 375,000 506,000
Other property and equipment, net of accumulated depreciation of $10 million in 2025 and $9 million in 2024 55,000 48,000
Total property and equipment, net 14,009,000 13,794,000
Derivative assets 2,000 17,000
Other noncurrent assets 155,000 145,000
Total assets 15,111,000 14,944,000
Current liabilities:    
Accounts payable and accrued expenses 623,000 561,000
Severance and ad valorem taxes payable 291,000 323,000
Crude oil, natural gas, and NGL revenue distribution payable 646,000 702,000
Derivative liability 17,000 22,000
Deferred acquisition consideration 0 479,000
Other liabilities 118,000 118,000
Total current liabilities 1,695,000 2,205,000
Long-term liabilities:    
Debt, net 5,139,000 4,494,000
Ad valorem taxes 149,000 294,000
Derivative liability 8,000 13,000
Deferred income tax liabilities, net 955,000 801,000
Asset retirement obligations 365,000 399,000
Other long-term liabilities 115,000 109,000
Total liabilities 8,426,000 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, 85,293,095 and 93,933,857 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 5,000 5,000
Additional paid-in capital 4,639,000 5,095,000
Retained earnings 2,041,000 1,529,000
Total stockholders’ equity 6,685,000 6,629,000
Total liabilities and stockholders’ equity $ 15,111,000 $ 14,944,000