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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Oil and natural gas sales $ 109,219 $ 90,652 $ 232,150 $ 179,648
Operating costs and expenses:        
Lease operating expenses 20,118 13,669 36,358 29,148
Production and ad valorem taxes 6,437 6,881 14,805 12,630
Depletion and accretion expense 53,412 41,592 101,857 82,533
Impairments of unproved properties 0 0 0 732
General and administrative 8,517 6,623 15,980 13,115
Other, net 0 0 (120) 0
Total operating costs and expenses 88,484 68,765 168,880 138,158
Net operating income 20,735 21,887 63,270 41,490
Other income (expense):        
Gain (loss) on derivatives - commodity derivatives 23,925 (785) 9,068 (3,946)
Interest expense, net (5,914) (5,817) (10,929) (8,977)
Loss on equity investments (5,795) (8,774) (15,766) (995)
Other income (loss) (93) 268 (93) 270
Total other income (expense) 12,123 (15,108) (17,720) (13,648)
Income before income taxes 32,858 6,779 45,550 27,842
Income tax expense 7,777 1,678 10,657 6,515
Net income $ 25,081 $ 5,101 $ 34,893 $ 21,327
Net income per share:        
Basic (in dollars per share) $ 0.19 $ 0.04 $ 0.27 $ 0.16
Diluted (in dollars per share) $ 0.19 $ 0.04 $ 0.27 $ 0.16
Weighted-average number of shares outstanding:        
Basic (in shares) 130,469 130,204 130,403 130,170
Diluted (in shares) 130,588 130,251 130,496 130,207