CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenue | ||||
| Total revenues | $ 405,955 | $ 288,517 | $ 691,880 | $ 515,285 |
| Operating expenses | ||||
| Lease operating expense | 97,724 | 49,566 | 198,656 | 98,318 |
| Production taxes | 18,538 | 10,496 | 35,105 | 23,270 |
| Depreciation, depletion, amortization and accretion – oil and natural gas | 93,887 | 64,340 | 187,891 | 125,525 |
| Depreciation and amortization – other | 4,342 | 2,758 | 8,511 | 5,158 |
| Total operating expenses | 283,486 | 177,220 | 579,120 | 352,316 |
| Income from operations | 122,469 | 111,297 | 112,760 | 162,969 |
| Other (expense) income | ||||
| Interest expense | (24,515) | (12,140) | (48,932) | (30,034) |
| Loss on debt extinguishment | 0 | 0 | 0 | (18,540) |
| Other income (expense), net | 259 | (9,496) | (653) | (8,848) |
| Total other expense | (24,256) | (21,636) | (49,585) | (57,422) |
| Net income | $ 98,213 | $ 89,661 | $ 63,175 | $ 105,547 |
| Net income per common unit: | ||||
| Basic (dollars per share) | $ 0.59 | $ 0.76 | $ 0.38 | $ 0.92 |
| Diluted (dollars per share) | $ 0.58 | $ 0.76 | $ 0.38 | $ 0.92 |
| Weighted average common units outstanding: | ||||
| Basic (shares) | 167,544 | 118,336 | 167,928 | 115,248 |
| Diluted (shares) | 168,026 | 118,389 | 168,241 | 115,313 |
| Nonrelated Party | ||||
| Operating expenses | ||||
| General and administrative | $ 8,821 | $ 6,952 | $ 15,722 | $ 15,969 |
| Related Party | ||||
| Operating expenses | ||||
| General and administrative | 1,850 | 1,850 | 3,700 | 3,700 |
| Net oil, natural gas, and NGL sales | ||||
| Revenue | ||||
| Total revenues | 366,852 | 219,412 | 732,398 | 472,138 |
| Operating expenses | ||||
| Cost of revenue | 47,968 | 31,784 | 107,239 | 59,945 |
| Gain (loss) on oil and natural gas derivatives | ||||
| Revenue | ||||
| Total revenues | 23,485 | 55,579 | (73,414) | 14,886 |
| Midstream revenue | ||||
| Revenue | ||||
| Total revenues | 9,384 | 6,257 | 18,993 | 12,387 |
| Operating expenses | ||||
| Cost of revenue | 4,954 | 3,200 | 10,110 | 6,170 |
| Product sales | ||||
| Revenue | ||||
| Total revenues | 6,234 | 7,269 | 13,903 | 15,874 |
| Operating expenses | ||||
| Cost of revenue | $ 5,402 | $ 6,274 | $ 12,186 | $ 14,261 |
| X | ||||||||||
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense charged against earnings to allocate the cost of tangible and intangible assets over their remaining economic lives, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A tax assessed on oil and gas production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of production (lifting) cost charged to expense in oil- and gas-producing activities. Includes, but is not limited to, depreciation of support equipment and facility, cost of labor, material, supply, and fuel consumed and service utilized to operate oil and gas well, its equipment and facility, cost of repair and maintenance, property tax and insurance for proved property, well, and equipment and facility, and severance tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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