Leases (Tables)

6 Months Ended

Jun. 30, 2026

Other information related to operating and finance leases at June 30, 2026 and December 31, 2025, is as follows:


	June 30, 2026		December 31, 2025
	(In thousands, except lease term discount rate)
Balance sheet classifications
Operating leases
Other assets (right-of-use assets)	$	8,705	$	10,059
Accrued liabilities (current maturities of leases)	3,060		2,777
Other long-term liabilities (non-current maturities of leases)	7,852		9,438
Finance leases
Property and equipment, net(1)	69,454		—
Accrued liabilities	73,203		—

(1) Represents $88.2 million of proved property additions or our proportionate share of the TEN FPSO finance lease asset offset by depletion expense of approximately $18.7 million for the period ended June 30, 2026.

Schedule of Future Minimum Rental Commitments

Future minimum rental commitments under our leases as of June 30, 2026, are as follows:


	Operating Leases(1)		Financing Leases(1)
	(In thousands)
2026(2)	$	2,017	$	24,504
2027	3,951		52,514
2028	3,744		—
2029	3,176		—
2030	—		—
Thereafter	—		—
Total undiscounted lease payments	$	12,888	$	77,018
Less: Imputed interest	(1,976)		(3,815)
Total lease liabilities	$	10,912	$	73,203

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(1) Does not include purchase commitments for jointly owned fields and facilities where we are not the operator and excludes commitments for exploration activities, including well commitments, in our petroleum contracts.

(2) Represents the period July 1, 2026 through December 31, 2026