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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating net revenues:        
Total operating net revenues $ 1,168,000 $ 1,272,000 $ 3,419,000 $ 3,914,000
Operating expenses:        
Lease operating expense 159,000 147,000 491,000 405,000
Severance and ad valorem taxes 81,000 87,000 245,000 291,000
Exploration 1,000 1,000 7,000 14,000
Depreciation, depletion, and amortization 497,000 524,000 1,443,000 1,512,000
Transaction costs 2,000 0 8,000 31,000
General and administrative expense 52,000 57,000 162,000 174,000
Other operating expense 3,000 2,000 9,000 10,000
Total operating expenses 895,000 926,000 2,661,000 2,754,000
Other income (expense):        
Derivative gain, net 79,000 151,000 235,000 49,000
Interest expense (120,000) (117,000) (341,000) (342,000)
Other, net 2,000 9,000 (9,000) 16,000
Total other income (expense) (39,000) 43,000 (115,000) (277,000)
Income from operations before income taxes 234,000 389,000 643,000 883,000
Income tax expense (57,000) (93,000) (156,000) (195,000)
Net income, basic 177,000 296,000 487,000 688,000
Net income, diluted $ 177,000 $ 296,000 $ 487,000 $ 688,000
Earnings per common share:        
Basic (in dollars per share) $ 1.99 $ 3.02 $ 5.32 $ 6.91
Diluted (in dollars per share) $ 1.99 $ 3.01 $ 5.31 $ 6.88
Weighted-average common shares outstanding:        
Basic (in shares) 88,864,529 97,905,077 91,644,288 99,539,882
Diluted (in shares) 88,962,984 98,223,909 91,762,602 99,951,073
Crude oil, natural gas, and NGL sales        
Operating net revenues:        
Total operating net revenues $ 1,160,000 $ 1,272,000 $ 3,406,000 $ 3,911,000
Midstream operating expense        
Operating net revenues:        
Total operating net revenues 8,000 0 13,000 3,000
Operating expenses:        
Operating expense 12,000 11,000 38,000 37,000
Gathering, transportation, and processing        
Operating expenses:        
Operating expense $ 88,000 $ 97,000 $ 258,000 $ 280,000