v3.26.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Selected financial information for segments
The following tables present selected financial information for the periods presented regarding the Company’s business segments on a stand-alone basis, corporate expenses that are not allocated to a segment and the consolidation and elimination entries necessary to arrive at the financial information for the Company on a consolidated basis (in thousands). On a consolidated basis, midstream services revenues consist primarily of those revenues from midstream operations related to third parties, including working interest owners in the Company’s operated wells. All midstream services revenues associated with Company-owned production are eliminated in consolidation. In evaluating the operating results of the exploration and production and midstream segments, the Company does not allocate certain expenses to the individual segments, including general and administrative expenses. Such expenses are reflected in the column labeled “Corporate.”
Exploration and ProductionConsolidations and EliminationsConsolidated Company
MidstreamCorporate
Three Months Ended June 30, 2026
Oil and natural gas revenues$1,083,333 $4,251 $— $— $1,087,584 
Midstream services revenues— 146,328 — (101,735)44,593 
Sales of purchased natural gas3,024 38,222 — — 41,246 
Realized loss on derivatives(72,488)— — — (72,488)
Unrealized gain on derivatives85,457 — — — 85,457 
Operating expense(1)
148,823 60,536 — (41,875)167,484 
Other expenses(2)
409,089 57,003 35,354 (59,860)441,586 
Operating income(3)
$541,414 $71,262 $(35,354)$— $577,322 
Total assets(4)
$11,459,104 $1,900,557 $134,905 $— $13,494,566 
Capital expenditures(5)
$1,594,747 $44,041 $(44)$— $1,638,744 
_____________________
(1)Includes lease operating expense for the exploration and production segment and midstream operating expense for the midstream segment.
(2)Includes depletion, depreciation and amortization expenses of $297.1 million and $17.6 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.4 million. Other expenses for each reportable segment also include (i) transportation and processing, (ii) general and administrative expenses, (iii) accretion of asset retirement obligations, (iv) purchased natural gas and (v) taxes other than income.
(3)Includes $23.0 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
(4)Excludes intercompany receivables and investments in subsidiaries.
(5)Includes $1.18 billion attributable to land and seismic acquisition expenditures related to the exploration and production segment, $6.2 million attributable to midstream acquisition expenditures and $13.4 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
Exploration and ProductionConsolidations and EliminationsConsolidated Company
MidstreamCorporate
Three Months Ended June 30, 2025
Oil and natural gas revenues$813,115 $2,659 $— $— $815,774 
Midstream services revenues— 137,125 — (95,118)42,007 
Sales of purchased natural gas29,682 38,215 — — 67,897 
Realized gain on derivatives6,947 — — — 6,947 
Unrealized loss on derivatives(37,313)— — — (37,313)
Operating expense(1)
151,530 44,456 — (46,299)149,687 
Other expenses(2)
427,230 51,755 26,795 (48,819)456,961 
Operating income(3)
$233,671 $81,788 $(26,795)$— $288,664 
Total assets(4)
$9,405,046 $1,770,840 $104,024 $— $11,279,910 
Capital expenditures(5)
$389,113 $101,487 $814 $— $491,414 
_____________________
(1)Includes lease operating expense for the exploration and production segment and midstream operating expense for the midstream segment.
(2)Includes depletion, depreciation and amortization expenses of $289.0 million and $13.1 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.4 million. Other expenses for each reportable segment also include (i) transportation and processing, (ii) general and administrative expenses, (iii) accretion of asset retirement obligations, (iv) purchased natural gas and (v) taxes other than income.
(3)Includes $32.1 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
(4)Excludes intercompany receivables and investments in subsidiaries.
(5)Includes $43.8 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $45.3 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.

Exploration and ProductionConsolidations and EliminationsConsolidated Company
MidstreamCorporate
Six Months Ended June 30, 2026
Oil and natural gas revenues$1,899,284 $7,031 $— $— $1,906,315 
Midstream services revenues— 282,276 — (195,592)86,684 
Sales of purchased natural gas37,391 84,637 — — 122,028 
Realized loss on derivatives(86,981)— — — (86,981)
Unrealized loss on derivatives(170,017)— — — (170,017)
Operating expense(1)
296,001 115,763 — (81,527)330,237 
Other expenses(2)
823,694 124,180 69,840 (114,065)903,649 
Operating income(3)
$559,982 $134,001 $(69,840)$— $624,143 
Total assets(4)
$11,459,104 $1,900,557 $134,905 $— $13,494,566 
Capital expenditures(5)
$2,073,807 $59,775 $2,088 $— $2,135,670 
_____________________
(1)Includes lease operating expense for the exploration and production segment and midstream operating expense for the midstream segment.
(2)Includes depletion, depreciation and amortization expenses of $572.4 million and $34.6 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.8 million. Other expenses for each reportable segment also includes (i) transportation and processing, (ii) general and administrative expenses, (iii) accretion of asset retirement obligations, (iv) purchased natural gas and (v) taxes other than income.
(3)Includes $43.1 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
(4)Excludes intercompany receivables and investments in subsidiaries.
(5)Includes $1.24 billion attributable to land and seismic acquisition expenditures related to the exploration and production segment, $6.2 million attributable to midstream acquisition expenditures and $18.6 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
Exploration and ProductionConsolidations and EliminationsConsolidated Company
MidstreamCorporate
Six Months Ended June 30, 2025
Oil and natural gas revenues$1,719,046 $6,646 $— $— $1,725,692 
Midstream services revenues— 257,104 — (181,598)75,506 
Sales of purchased natural gas55,259 75,394 — — 130,653 
Realized gain on derivatives9,661 — — — 9,661 
Unrealized loss on derivatives(32,242)— — — (32,242)
Operating expense(1)
297,396 96,260 — (87,755)305,901 
Other expenses(2)
858,570 105,177 55,650 (93,843)925,554 
Operating income(3)
$595,758 $137,707 $(55,650)$— $677,815 
Total assets(4)
$9,405,046 $1,770,840 $104,024 $— $11,279,910 
Capital expenditures(5)
$865,265 $178,671 $1,756 $— $1,045,692 
_____________________
(1)Includes lease operating expense for the exploration and production segment and midstream operating expense for the midstream segment.
(2)Includes depletion, depreciation and amortization expenses of $558.5 million and $25.2 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.8 million. Other expenses for each reportable segment also include (i) transportation and processing, (ii) general and administrative expenses, (iii) accretion of asset retirement obligations, (iv) purchased natural gas and (v) taxes other than income.
(3)Includes $54.3 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
(4)Excludes intercompany receivables and investments in subsidiaries.
(5)Includes $125.6 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $76.1 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.