v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We have evaluated how we are organized and managed and have identified one reportable segment, which is our interests related to the exploration and production of crude oil, natural gas and NGLs from operated and non-operated wells. We consider our gathering, processing and marketing functions as ancillary to our oil and gas producing activities. Substantially all of our operations and assets are located onshore in the United States, and substantially all of our revenues are attributable to United States customers.

The Company’s Chief Operating Decision Maker ("CODM") is the Chief Executive Officer. The CODM uses measures of profitability including Net income (loss) on the condensed consolidated statement of operations to assess performance and determine resource allocation. The CODM uses these metrics to make key operating decisions, including the determination of allocation of capital between development of existing oil and gas properties and the acquisition of additional oil and gas properties, and the identification and divestiture of non-core assets. The measure of segment assets is reported on the Consolidated balance sheets as Total assets. We do not have intra-entity sales or transfers.

The table below provides information about the Company’s single reportable segment:
Three Months Ended March 31,
20262025
(in thousands)
Total revenues$1,182,830 $950,172 
Less:
Lease and asset operating expense234,156 192,005 
Workover expense30,340 16,022 
Gathering, processing and transportation102,075 105,287 
Production and other taxes55,699 60,381 
Depreciation, depletion and amortization354,125 282,573 
Impairment expense— 45,647 
Midstream and other operating expense6,746 29,816 
General and administrative expense excluding equity-based compensation38,300 30,132 
Equity-based compensation expense24,500 26,638 
Interest expense104,574 73,182 
Other segment items651,491 82,578 
Net income (loss)$(419,176)$5,911 
Total development of oil and natural gas properties$384,724 $207,542 

Other segment items include Exploration expense, Gain (loss) on derivatives, (Gain) loss on sale of assets and Loss from extinguishment of debt from our condensed consolidated statements of operations.