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Reportable Segment (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The following tables present the Company's segment revenues and other operating income, significant segment operating expenses, and segment income (loss) from operations:
Three Months Ended June 30, 2026
(in thousands)Upstream/MidstreamPowerTotal Reportable Segments
Corporate and Other
Total
Revenues and other operating income
Natural gas, NGL, and oil sales$221,928 $— $221,928 $— $221,928 
Power revenues
— 74,362 74,362 — 74,362 
Derivative gains, net95,284 47,971 143,255 — 143,255 
Marketing revenues26,162 — 26,162 — 26,162 
Section 45Q tax credits— — — 3,048 3,048 
Other328 — 328 (3,548)(3,220)
Total revenues and other operating income$343,702 $122,333 $466,035 $(500)$465,535 
Operating expenses
Lease operating and workover44,482 — 44,482 — 44,482 
Fuel commodity costs— 42,832 42,832 — 42,832 
Purchased power— 29,502 29,502 — 29,502 
Marketing expense22,516 685 23,201 61 23,262 
Taxes other than income11,583 4,303 15,886 14 15,900 
Gathering and transportation68,095 — 68,095 — 68,095 
Depreciation, depletion, amortization, and accretion42,821 9,552 52,373 504 52,877 
Power operating and maintenance
— 17,185 17,185 — 17,185 
General and administrative22,747 7,625 30,372 11,753 42,125 
Other operating expenses
1,420 4,891 6,311 1,308 7,619 
Total operating expenses213,664 116,575 330,239 13,640 343,879 
Income (loss) from operations
$130,038 $5,758 $135,796 $(14,140)$121,656 
Capital expenditures$61,750 $5,371 $67,121 $19,717 $86,838 
Three Months Ended June 30, 2025
(in thousands)Upstream/MidstreamPowerTotal Reportable Segments
Corporate and Other
Total
Revenues and other operating income
Natural gas, NGL, and oil sales$199,729 $— $199,729 $— $199,729 
Power revenues— 61,924 61,924 — 61,924 
Derivative gains, net112,208 74,818 187,026 — 187,026 
Marketing revenues6,968 — 6,968 — 6,968 
Section 45Q tax credits— — — 2,574 2,574 
Other140 — 140 — 140 
Total revenues and other operating income$319,045 $136,742 $455,787 $2,574 $458,361 
Operating expenses
Lease operating and workover34,176 — 34,176 — 34,176 
Fuel commodity costs— 39,852 39,852 — 39,852 
Purchased power— 29,494 29,494 — 29,494 
Marketing expense4,321 547 4,868 — 4,868 
Taxes other than income13,404 4,638 18,042 — 18,042 
Gathering and transportation63,026 — 63,026 — 63,026 
Depreciation, depletion, amortization, and accretion37,644 9,536 47,180 400 47,580 
Power operating and maintenance
— 18,252 18,252 — 18,252 
General and administrative
14,782 4,267 19,049 11,430 30,479 
Other operating expenses
3,403 434 3,837 7,407 11,244 
Total operating expenses170,756 107,020 277,776 19,237 297,013 
Income (loss) from operations$148,289 $29,722 $178,011 $(16,663)$161,348 
Capital expenditures$56,159 $55 $56,214 $10,276 $66,490 
Six Months Ended June 30, 2026
(in thousands)Upstream/MidstreamPowerTotal Reportable Segments
Corporate and Other
Total
Revenues and other operating income
Natural gas, NGL, and oil sales$509,603 $— $509,603 $— $509,603 
Power revenues
— 143,352 143,352 — 143,352 
Derivative gains, net52,808 143,556 196,364 — 196,364 
Marketing revenues45,985 — 45,985 58 46,043 
Section 45Q tax credits— — — 6,108 6,108 
Other460 — 460 (3,548)(3,088)
Total revenues and other operating income$608,856 $286,908 $895,764 $2,618 $898,382 
Operating expenses
Lease operating and workover89,557 — 89,557 — 89,557 
Fuel commodity costs— 99,953 99,953 — 99,953 
Purchased power— 56,857 56,857 — 56,857 
Marketing expense27,656 1,563 29,219 91 29,310 
Taxes other than income27,545 8,536 36,081 21 36,102 
Gathering and transportation135,897 — 135,897 — 135,897 
Depreciation, depletion, amortization, and accretion83,512 21,356 104,868 950 105,818 
Power operating and maintenance
— 36,864 36,864 — 36,864 
General and administrative43,585 13,980 57,565 24,671 82,236 
Other operating expenses
6,251 9,047 15,298 2,808 18,106 
Total operating expenses414,003 248,156 662,159 28,541 690,700 
Income (loss) from operations
$194,853 $38,752 $233,605 $(25,923)$207,682 
Capital expenditures$140,720 $22,221 $162,941 $30,424 $193,365 
Six Months Ended June 30, 2025
(in thousands)Upstream/MidstreamPowerTotal Reportable Segments
Corporate and Other
Total
Revenues and other operating income
Natural gas, NGL, and oil sales$415,855 $— $415,855 $— $415,855 
Power revenues— 105,788 105,788 — 105,788 
Derivative gains (losses), net(39,983)128,626 88,643 — 88,643 
Marketing revenues19,425 — 19,425 — 19,425 
Section 45Q tax credits— — — 5,881 5,881 
Other(1,165)— (1,165)— (1,165)
Total revenues and other operating income$394,132 $234,414 $628,546 $5,881 $634,427 
Operating expenses
Lease operating and workover69,231 — 69,231 — 69,231 
Fuel commodity costs— 86,215 86,215 — 86,215 
Purchased power— 48,161 48,161 — 48,161 
Marketing expense7,645 1,143 8,788 — 8,788 
Taxes other than income23,626 9,206 32,832 — 32,832 
Gathering and transportation118,819 — 118,819 — 118,819 
Depreciation, depletion, amortization, and accretion77,135 19,163 96,298 879 97,177 
Power operating and maintenance
— 38,465 38,465 — 38,465 
General and administrative
27,978 10,169 38,147 20,631 58,778 
Other operating expenses
3,689 824 4,513 10,197 14,710 
Total operating expenses328,123 213,346 541,469 31,707 573,176 
Income (loss) from operations$66,009 $21,068 $87,077 $(25,826)$61,251 
Capital expenditures$110,423 $293 $110,716 $13,386 $124,102 
Segment Reporting, Reconciliation of Profit (Loss) by Segment to Consolidated
The following table reconciles total segment income (loss) from operations to consolidated income before income taxes:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Total segment operating income $135,796 $178,011 $233,605 $87,077 
Unallocated amounts:
Corporate and Other revenues and other operating income(500)2,574 2,618 5,881 
Corporate and Other marketing expense(61)— (91)
Corporate and Other taxes other than income(14)— (21)— 
Corporate and Other depreciation, depletion, amortization, and accretion(504)(400)(950)(879)
Corporate and Other general and administrative(11,753)(11,430)(24,671)(20,631)
Corporate and Other other operating expenses(1,308)(7,407)(2,808)(10,197)
Interest expense, net(26,661)(20,670)(52,262)(41,046)
Other income
2,485 1,040 5,373 4,074 
Income before income taxes$97,480 $141,718 $160,793 $24,279 
Segment Reporting, Reconciliation of Asset by Segment to Consolidated
The following table presents total assets by reportable segment reconciled to total consolidated assets:
June 30,
(in thousands)20262025
Upstream/Midstream$2,742,960 $2,063,723 
Power1,255,502 976,983 
Total reportable segments3,998,462 3,040,706 
Corporate and Other
236,718 125,670 
Total consolidated assets$4,235,180 $3,166,376