v3.26.1
Business Combinations (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combinations [Abstract]  
Schedule of Consideration Transferred to the PIH Unitholders

The following table summarizes the total consideration transferred to the PIH unitholders:

 

(in thousands)      
Purchase price:      
Cash   $ 134,994  
1,717,391 Class A common stock     18,977  
1,000,658 EQV Holdings common units     11,057  
Total purchase consideration   $ 165,028  

The following table summarizes the total consideration transferred to the EQVR unitholders:

 

(in thousands)      
Purchase price:      
Cash   $ 29,022  
3,422,260 Class A common stock     37,816  
Total purchase consideration   $ 66,838  
Schedule of Recognized Amounts of Identified Assets Acquired and Liabilities Assumed

The following table summarizes the recognized amounts of identified assets acquired and liabilities assumed:

 

(in thousands)      
Assets acquired      
Cash and cash equivalents   $ 7,926  
Restricted cash     11,051  
Accounts receivable, oil and gas     23,275  
Accounts receivable, joint interest owners     10,779  
Derivative assets - current     8,550  
Prepaid expenses and other current assets     9,256  
Oil and natural gas properties, successful efforts     609,218  
Other property and equipment, net     5,221  
Derivative assets - noncurrent     4,009  
Right-of-use assets     117  
Other noncurrent assets     2,097  
Total assets acquired   $ 691,499  
         
Liabilities assumed        
Accounts payable     17,139  
Production taxes payable     3,991  
Revenue and royalties payable     22,639  
Derivative liabilities - current     26,943  
Current portion of long-term debt     9,142  
Lease liabilities, current     122  
Other current liabilities     88,852  
Long-term debt, net     274,677  
Asset retirement obligations     63,390  
Derivative liabilities - noncurrent     15,311  
Deferred tax liabilities - noncurrent     4,265  
Total liabilities assumed   $ 526,471  
         
Total net assets acquired   $ 165,028  

 

The following table summarizes the recognized amounts of identified assets acquired and liabilities assumed:

 

(in thousands)      
Assets acquired      
Cash and cash equivalents   $ 694  
Accounts receivable, oil and gas     2,277  
Accounts receivable, joint interest owners     3,898  
Derivative assets - current     1,157  
Oil and natural gas properties, successful efforts     89,395  
Other property and equipment, net     47  
Derivative assets - noncurrent     371  
Total assets acquired   $ 97,839  
         
Liabilities assumed        
Accounts payable     4,245  
Revenue and royalties payable     7  
Derivative liabilities - current     1,678  
Other current liabilities     1,372  
Asset retirement obligations     15,398  
Derivative liabilities - noncurrent     1,402  
Deferred tax liabilities - noncurrent     6,899  
Total liabilities assumed   $ 31,001  
         
Total net assets acquired   $ 66,838