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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 132,818 $ 2,974
Restricted cash 5,490 261
Derivative assets – current 53,273 54,321
Prepaid expenses 42,595 40,406
Other current assets 11,640 10,952
Total current assets 788,088 615,652
Oil and natural gas properties at cost, successful efforts method    
Proved 11,471,299 8,574,478
Unproved 374,306 283,324
Oil and natural gas properties at cost, successful efforts method 11,845,605 8,857,802
Field and other property and equipment, at cost 226,871 198,570
Total property, plant and equipment 12,072,476 9,056,372
Less: accumulated depreciation, depletion, amortization and impairment (3,927,422) (2,940,546)
Property, plant and equipment, net 8,145,054 6,115,826
Derivative assets – noncurrent 6,684 8,066
Investments in equity affiliates 13,810 6,076
Other assets 207,013 57,715
TOTAL ASSETS 9,160,649 6,803,335
Current liabilities:    
Derivative liabilities – current 2,698 42,051
Financing lease obligations – current 3,625 4,233
Other current liabilities 62,254 37,823
Total current liabilities 827,363 750,257
Long-term debt 3,049,255 1,694,375
Derivative liabilities – noncurrent 37,732 0
Asset retirement obligations 448,945 418,319
Deferred tax liability 370,329 262,581
Financing lease obligations – noncurrent 3,526 7,066
Other liabilities 55,539 35,019
Total liabilities 4,792,689 3,167,617
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests 1,228,329 1,901,208
Equity:    
Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of December 31, 2024 and 2023 0 0
Treasury stock, at cost; 2,434,484 and 1,071,553 shares of Class A common stock as of December 31, 2024 and 2023, respectively (32,430) (17,143)
Additional paid-in capital 3,227,450 1,626,501
Retained earnings (accumulated deficit) (64,751) 95,447
Noncontrolling interests 9,336 29,687
Total equity 3,139,631 1,734,510
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY $ 9,160,649 $ 6,803,335
Treasury stock (in shares) 2,434,484 1,071,553
Class A Common Stock    
Equity:    
Common stock $ 19 $ 9
Class B Common Stock    
Equity:    
Common stock 7 9
Nonrelated Party    
Current assets:    
Accounts receivable, net 535,416 504,630
Current liabilities:    
Accounts payable and accrued liabilities 740,452 613,543
Affiliated Entity    
Current assets:    
Accounts receivable, net 6,856 2,108
Current liabilities:    
Accounts payable and accrued liabilities $ 18,334 $ 52,607