Commitments and contingencies |
6 Months Ended |
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Jun. 30, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and contingencies | Commitments and contingencies From time to time, the Company is subject to various legal proceedings arising in the ordinary course of business, including those that arise from interpretation of federal, state and local laws and regulations affecting the oil and natural gas industry, personal injury claims, title disputes, royalty disputes, contract claims, contamination claims relating to oil and natural gas exploration and development and environmental claims, including claims involving assets previously sold to third parties and no longer part of the Company's current operations. The Company may not have insurance coverage for some of these proceedings and failure to comply with applicable laws and regulations can result in substantial penalties. While many of these matters involve inherent uncertainty, as of the date hereof, the Company believes that any such legal proceedings, if ultimately decided adversely, will not have a material adverse effect on the Company's business, financial position, results of operations or liquidity. The Company has committed to deliver, for sale or transportation, fixed volumes of product under certain contractual arrangements that specify the delivery of a fixed and determinable quantity. If not fulfilled, the Company is subject to firm transportation payments on excess pipeline capacity and other contractual penalties. These commitments are normal and customary for the Company's business. In certain instances, the Company has used spot market purchases to meet its commitments in certain locations or due to favorable pricing. As of June 30, 2025, future firm sale and transportation commitments of $77.2 million are expected to be satisfied and, as such, are not recorded as a liability on the balance sheet. The Company has committed to purchase a fixed supply of electricity at specified prices through 2032. As of June 30, 2025, future minimum payments under the terms of these agreements are $228.4 million. The Company has committed to take delivery of processed sand, which is utilized in the Company's completions activities, at specified prices through 2026. As of June 30, 2025, future minimum purchase commitments under the terms of these agreements are estimated to be $31.1 million
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