v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's assets and operations consist of one reportable segment with all revenues, operating expenses and assets attributable to this segment reflected in the consolidated financial statements. The Company derives its revenue from the sale of natural gas, oil and condensate and NGL produced from its oil and natural gas properties located in the United States.
The Company's Chief Executive Officer (“CEO”) is the CODM and is responsible for assessing performance and allocating resources on an entity-wide basis. From January 1, 2026 through March 6, 2026, the Company's former President and CEO was the CODM. Following his departure on March 6, 2026, the Board of Directors established the Office of the Chairman, consisting of the Chairman of the Board, Chief Financial Officer, Chief Operating Officer and Chief Legal and Administrative Officer. The Office of the Chairman was the CODM until Domenic J. Dell'Osso, Jr. was named President, CEO and Director on May 28, 2026. Upon his appointment, the Office of the Chairman was discontinued and the Company's CODM transitioned to the CEO.
The CODM evaluates performance and allocates resources based on net income, which is reported on the consolidated statement of operations. The measure of segment assets is reported on the consolidated balance sheets as “total assets”.
The following tables present selected financial information with respect to the Company's one operating segment (in thousands):
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Total revenues$323,228 $447,616 
Significant segment expenses
Lease operating expenses19,831 17,628 
Taxes other than income7,374 7,556 
Transportation, gathering, processing and compression84,626 86,508 
Depreciation, depletion and amortization73,053 73,643 
General and administrative10,661 10,926 
Interest expense15,792 13,731 
Other segment expenses(1)
773 1,488 
Income tax expense24,016 51,670 
Total significant segment expenses236,126 263,150 
Net income$87,102 $184,466 
Capital expenditures(2)
$198,514 $139,543 
_____________________
(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.

Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Total revenues$760,760 $644,650 
Significant segment expenses
Lease operating expenses44,287 37,911 
Taxes other than income16,558 14,182 
Transportation, gathering, processing and compression175,193 169,378 
Depreciation, depletion and amortization148,483 139,265 
General and administrative20,369 19,927 
Interest expense31,178 27,087 
Other segment expenses(1)
3,069 1,404 
Income tax expense68,699 51,494 
Total significant segment expenses507,836 460,648 
Net income$252,924 $184,002 
Capital expenditures(2)
$367,433 $309,568 
_____________________
(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.