v3.26.1
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
REVENUES        
Total revenues $ 478,811 $ 318,981 $ 837,322 $ 669,282
OPERATING EXPENSES        
Lease operating expenses 48,409 43,590 96,160 90,665
Gathering, transportation and processing 17,202 16,489 35,410 31,442
Taxes other than income 22,757 18,802 39,144 38,907
Exploration expenses 213 363 1,955 711
Asset retirement obligations accretion 1,862 1,563 3,719 3,119
Depreciation, depletion and amortization 116,516 107,082 229,874 212,935
General and administrative expenses 29,151 23,278 60,595 47,867
Transaction related costs 3,200 0 3,200 0
Total operating expenses 239,310 211,167 470,057 425,646
OPERATING INCOME 239,501 107,814 367,265 243,636
OTHER EXPENSE        
Interest expense, net (6,720) (5,604) (12,724) (10,856)
Other income (expense), net (379) (244) (415) 971
Total other expense, net (7,099) (5,848) (13,139) (9,885)
INCOME BEFORE INCOME TAXES 232,402 101,966 354,126 233,751
Income tax expense 50,626 20,938 71,514 46,075
NET INCOME 181,776 81,028 282,612 187,676
LESS: Net income attributable to noncontrolling interest 0 2,911 1,011 6,632
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK $ 181,776 $ 78,117 $ 281,601 $ 181,044
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING        
Basic (in shares) 184,574 186,518 183,924 187,579
Diluted (in shares) 184,586 186,530 183,936 187,591
COMPREHENSIVE INCOME:        
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK $ 181,776 $ 78,117 $ 281,601 $ 181,044
Other comprehensive income, net of tax:        
Postretirement benefits 32 0 55 0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK $ 181,808 $ 78,117 $ 281,656 $ 181,044
Class A Common Stock        
NET INCOME PER SHARE OF CLASS A COMMON STOCK        
Basic (in dollars per share) $ 0.97 $ 0.41 $ 1.51 $ 0.95
Diluted (in dollars per share) $ 0.97 $ 0.41 $ 1.51 $ 0.95
Oil revenues        
REVENUES        
Total revenues $ 373,759 $ 226,345 $ 631,088 $ 471,879
Natural gas revenues        
REVENUES        
Total revenues 39,669 42,850 91,469 94,218
Natural gas liquids revenues        
REVENUES        
Total revenues $ 65,383 $ 49,786 $ 114,765 $ 103,185