Employee Benefits Plans and Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Units Activity

The following table summarizes RSU activity under the A&R LTIP for the six months ended June 30, 2026:


	Restricted Stock Units			Weighted Average Grant Date Fair Value
Unvested RSUs at December 31, 2025		4,595,755		$	10.25
Granted		2,119,949		$	13.18
Vested		(1,598,070	)	$	10.79
Forfeited		(299,821	)	$	10.58
Unvested RSUs at June 30, 2026		4,817,813		$	11.34

Summary of Performance Share Units Activity

The following table summarizes PSU activity under the A&R LTIP for the six months ended June 30, 2026:


	Performance Share Units			Weighted Average Grant Date Fair Value
Unvested PSUs at December 31, 2025		1,114,299		$	10.02
Granted(1)(2)		561,609		$	16.68
Forfeited		(16,781	)	$	11.07
Unvested PSUs at June 30, 2026		1,659,127		$	12.27

(1)

Eligible to vest based on continued employment and the relative annualized total shareholder return (“TSR”) of the Company as compared to a peer group over a three-year performance period, as modified by the Company’s absolute annualized TSR over the same performance period.

(2)

Excludes 280,802 strategic PSUs awarded which vest over a three-year performance period, subject to continued employment of the recipients and the achievement of strategic measures. At the end of the performance period, and based on the Company’s ultimate performance, the Compensation Committee of the Board of Directors (the “Compensation Committee”) has discretion to determine the number of shares of common stock issuable, ranging from zero to 200% of the target number of PSUs awarded. Due to this level of discretion, the Company recognizes stock-based compensation expense over the requisite service period based on the estimated fair value at each reporting date until the grant date. In the period in which the grant occurs, the cumulative compensation cost will be adjusted to the fair value at the date of the grant.

Summary of Assumptions Used to Calculate the Grant Date Fair Value of TSR PSUs Granted

The following table summarizes the assumptions used in the Monte Carlo simulations to calculate the fair value of the TSR PSUs granted at the date indicated:


	March 5, 2026
Expected term (in years)		2.8
Expected volatility		47.8	%
Risk-free interest rate		3.5	%
Dividend yield		—	%

Schedule of Recognized Share Based Compensation Expense, Net

The following table presents the amount of costs expensed and capitalized (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Share-based compensation costs	$	8,669	$	6,362	$	15,750	$	12,302
Less: Amounts capitalized to oil and gas properties		2,260		1,959		4,005		3,758
Total share-based compensation expense	$	6,409	$	4,403	$	11,745	$	8,544