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Property, Plant, and Equipment (Tables)
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Oil and Gas, Capitalized Cost Our capitalized costs of oil and natural gas properties and the related accumulated depreciation, depletion, and amortization as of March 31, 2026 and December 31, 2025 are as follows:
 March 31, 2026December 31, 2025
(in thousands)
Oil and natural gas properties:
Proved properties$1,716,425$1,175,523
Unproved properties126,36688,689
Gross oil and natural gas properties1,842,7911,264,212
Less: accumulated depreciation, depletion, and amortization(283,221)(249,296)
Oil and natural gas properties, net$1,559,570$1,014,916
Oil and Gas, Average Sale Price and Production Cost The following table shows our depletion expense for the three months ended March 31, 2026 and 2025 related to oil and gas properties:
For the Three Months Ended March 31,
(in thousands, except per Boe amounts)
2026
2025
Depletion of Proved Oil and Natural Gas Properties
33,92520,577
Average Depletion Rate per Boe
$7.50$8.68
Property, Plant and Equipment
Our other property and equipment consists of the following assets that are recorded at cost and depreciated on a straight-line basis over the respective estimated useful lives.
March 31, 2026December 31, 2025
Midstream assets
$338,327$53,077
Other property and equipment4,7394,039
Gross midstream and other property and equipment
343,06657,116
Less: accumulated depreciation
(9,014)(7,416)
Total midstream and other property and equipment, net
$334,052$49,700
The estimated useful lives of other property and equipment depreciated on a straight-line basis are as follows:
Midstream assets
5 – 25 years
Vehicles
5 years
Furniture, fixtures, and office equipment
3 – 10 years
Leasehold improvements
5 years