v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 9,775 $ 10,157
Restricted cash 5,428 725,702
Derivative assets – current 11,525 322,784
Prepaid expenses 51,458 46,309
Other current assets 30,316 13,271
Total current assets 896,424 1,861,057
Oil and natural gas properties at cost, successful efforts method    
Proved 13,833,356 13,264,097
Unproved 572,530 413,444
Oil and natural gas properties at cost, successful efforts method 14,405,886 13,677,541
Field and other property and equipment, at cost 172,744 157,031
Total property, plant and equipment 14,578,630 13,834,572
Less: accumulated depreciation, depletion, amortization and impairment (3,899,343) (3,558,601)
Property, plant and equipment, net 10,679,287 10,275,971
Derivative assets – noncurrent 15,550 2,829
Investments in equity affiliates 9,042 8,146
Deferred tax asset 233,973 143,706
Other assets 163,968 151,498
TOTAL ASSETS 11,998,244 12,443,207
Current liabilities:    
Derivative liabilities – current 314,603 0
Financing lease obligations – current 4,579 4,860
Other current liabilities 137,228 86,603
Total current liabilities 1,568,518 1,259,420
Long-term debt 5,237,734 5,524,128
Derivative liabilities – noncurrent 42,684 13,421
Asset retirement obligations 378,790 383,057
Deferred tax liability 6,658 11,671
Financing lease obligations – noncurrent 2,345 3,228
Other liabilities 75,068 82,847
Total liabilities 7,311,797 7,277,772
Commitments and contingencies (Note 9)
Equity:    
Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Treasury stock, at cost; 7,079,687 and 7,079,021 shares of Class A common stock as of March 31, 2026 and December 31, 2025, respectively (71,062) (71,054)
Additional paid-in capital 5,169,881 5,228,928
Retained earnings (accumulated deficit) (419,847) 0
Noncontrolling interests 7,442 7,528
Total equity 4,686,447 5,165,435
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY 11,998,244 12,443,207
Nonrelated Party    
Current assets:    
Accounts receivable, net 786,465 738,333
Current liabilities:    
Accounts payable and accrued liabilities 1,090,434 1,121,678
Affiliated Entity    
Current assets:    
Accounts receivable, net 1,457 4,501
Current liabilities:    
Accounts payable and accrued liabilities 21,674 46,279
Class A Common Stock    
Equity:    
Common stock 33 33
Class B Common Stock    
Equity:    
Common stock $ 0 $ 0