v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's assets and operations consist of one reportable segment with all revenues, operating expenses and assets attributable to this segment reflected in the consolidated financial statements. The Company derives its revenue from the sale of natural gas, oil and condensate and NGL produced from its oil and natural gas properties located in the United States.
The CODM of the Company is its Chief Executive Officer. The CODM assesses entity-wide operating results and performance and decides how to allocate resources based on net income (loss), which is reported on the consolidated statement of operations.
The measure of segment assets is reported on the consolidated balance sheets as “total assets”.
The following tables present selected financial information with respect to the Company's one operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Total revenues$447,616 $181,117 
Significant segment expenses
Lease operating expenses17,628 15,817 
Taxes other than income7,556 7,018 
Transportation, gathering, processing and compression86,508 86,529 
Depreciation, depletion, and amortization73,643 78,553 
General and administrative10,926 10,752 
Interest expense13,731 15,158 
Other segment expenses(1)
1,488 1,089 
Income tax expense (benefit)51,670 (7,587)
Total significant segment expenses263,150 207,329 
Net income (loss)$184,466 $(26,212)
Capital expenditures(2)
$139,543 $149,733 
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(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.

Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Total revenues$644,650 $464,346 
Significant segment expenses
Lease operating expenses37,911 32,625 
Taxes other than income14,182 15,278 
Transportation, gathering, processing and compression169,378 173,148 
Depreciation, depletion, and amortization139,265 158,576 
General and administrative19,927 19,950 
Interest expense27,087 30,161 
Other segment expenses(1)
1,404 1,519 
Income tax expense51,494 7,266 
Total significant segment expenses460,648 438,523 
Net income$184,002 $25,823 
Capital expenditures(2)
$309,568 $282,808 
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(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.