v3.25.2
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Gain (Loss) on Derivatives
The following table summarizes components of the Company's gain (loss) on derivatives, net by type of derivative instrument for the periods presented:
Three months ended June 30,Six months ended June 30,
(in thousands)2025202420252024
Commodity$51,571 $9,425 $104,249 $(146,410)
Contingent consideration17,422 (1,767)8,915 1,921 
Gain (loss) on derivatives, net$68,993 $7,658 $113,164 $(144,489)
Schedule of Open Commodity Derivative Positions
The following table summarizes open commodity derivative positions as of June 30, 2025, for commodity derivatives that were entered into through June 30, 2025, for the settlement periods presented:
 Remaining Year 2025Year 2026Year 2027
Oil: 
WTI NYMEX - Swaps:
Volume (Bbl)11,279,200 13,306,500 3,285,000 
Weighted-average price ($/Bbl)$68.82 $64.02 $61.07 
WTI NYMEX - Collars:
Volume (Bbl)— 1,086,000 — 
Weighted-average floor price ($/Bbl)$— $60.00 $— 
Weighted-average ceiling price ($/Bbl)$— $71.02 $— 
NGL:
Non-TET Propane - Swaps:
Volume (Bbl)1,748,000 — — 
Weighted-average price ($/Bbl)$34.16 $— $— 
Non-TET Ethane - Swaps:
Volume (Bbl)2,208,000 — — 
Weighted-average price ($/Bbl)$11.04 $— $— 
Natural gas:
Waha Inside FERC - Swaps:
Volume (MMBtu)32,238,000 51,830,000 43,800,000 
Weighted-average price ($/MMBtu)$2.32 $2.41 $2.70 
The following table summarizes the Company's open commodity derivative positions as of June 30, 2025, updated for the derivative transactions entered into from June 30, 2025 through August 5, 2025, for the settlement periods presented:
 Remaining Year 2025Year 2026Year 2027
Oil: 
WTI NYMEX - Swaps:
Volume (Bbl)11,279,200 13,306,500 3,285,000 
Weighted-average price ($/Bbl)$68.82 $64.02 $61.07 
WTI NYMEX - Collars:
Volume (Bbl)— 1,086,000 — 
Weighted-average floor price ($/Bbl)$— $60.00 $— 
Weighted-average ceiling price ($/Bbl)$— $71.02 $— 
NGL:
Non-TET Propane - Swaps:
Volume (Bbl)1,748,000 — — 
Weighted-average price ($/Bbl)$34.16 $— $— 
Non-TET Ethane - Swaps:
Volume (Bbl)2,208,000 — — 
Weighted-average price ($/Bbl)$11.04 $— $— 
Natural gas:
Waha Inside FERC - Swaps:
Volume (MMBtu)32,238,000 55,480,000 43,800,000 
Weighted-average price ($/MMBtu)$2.32 $2.41 $2.70 
Waha Inside FERC to Henry Hub NYMEX - Basis Swaps:
Volume (MMBtu)— — 14,600,000 
Weighted-average differential ($/MMBtu)$— $— $(0.97)