v3.26.1
Oil and Natural Gas Properties
 6 Months Ended
Jun. 30, 2026
Extractive Industries [Abstract]  
Oil and Natural Gas Properties Oil and Natural Gas Properties
Oil and natural gas properties, net are summarized below:
June 30, 2026December 31, 2025
(In thousands)
Proved$1,253,406 $1,153,126 
Unproved148,507 155,979 
Work-in-progress67,857 25,668 
Oil and natural gas properties
$1,469,770 $1,334,773 
Accumulated depletion, amortization and impairment(386,961)(339,234)
Total oil and natural gas properties, net$1,082,809 $995,539 
Depletion expense for proved oil and natural gas properties was $23.3 million and $17.8 million, respectively, for the three months ended June 30, 2026, and 2025 and $48.1 million and $35.3 million, respectively, for the six months ended June 30, 2026, and 2025.
Exploration costs were $1.4 million and $0.1 million for the six months ended June 30, 2026, and 2025, respectively, and were primarily attributable to the expiration of oil and natural gas leases.