v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share data) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 620 $ 368
Accounts receivable 989 331
Derivative assets 145 83
Prepaid expenses and other 146 29
Total current assets 1,900 811
Property and equipment (successful efforts method):    
Proved oil and gas properties 23,214 16,012
Accumulated depletion, depreciation, and amortization (8,466) (8,793)
Unproved oil and gas properties, net of valuation allowance of $12 and $12, respectively 860 460
Wells in progress 809 458
Other property and equipment, net of accumulated depreciation of $67 and $63, respectively 131 65
Total property and equipment, net 16,548 8,202
Noncurrent assets:    
Derivative assets 56 6
Other noncurrent assets 354 234
Total noncurrent assets 410 240
Total assets 18,858 9,253
Current liabilities:    
Accounts payable and accrued expenses 2,367 690
Senior Notes, net 416 419
Derivative liabilities 184 2
Other current liabilities 122 58
Total current liabilities 3,089 1,169
Noncurrent liabilities:    
Revolving credit facility 0 0
Senior Notes, net 6,620 2,296
Asset retirement obligations 430 150
Deferred tax liabilities, net 630 724
Derivative liabilities 1 2
Other noncurrent liabilities 275 102
Total noncurrent liabilities 7,956 3,274
Commitments and contingencies (note 7)
Stockholders’ equity:    
Common stock, $0.01 par value - authorized: 400,000,000 and 200,000,000 shares, respectively; issued and outstanding: 237,494,374 and 114,630,905 shares, respectively 2 1
Additional paid-in capital 3,888 1,517
Retained earnings 3,921 3,291
Accumulated other comprehensive income 2 1
Total stockholders’ equity 7,813 4,810
Total liabilities and stockholders’ equity $ 18,858 $ 9,253
Common Stock, Shares Authorized 400,000,000 200,000,000