v3.26.1
Property, Plant, and Equipment (Tables)
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Oil and Gas, Capitalized Cost Our capitalized costs of oil and natural gas properties and the related accumulated depreciation, depletion, and amortization as of June 30, 2026 and December 31, 2025 are as follows:
June 30, 2026December 31, 2025
(in thousands)
Oil and natural gas properties:
Proved properties$1,857,133$1,175,523
Unproved properties114,15688,689
Gross oil and natural gas properties1,971,2891,264,212
Less: accumulated depreciation, depletion, and amortization(321,977)(249,296)
Oil and natural gas properties, net$1,649,312$1,014,916
Oil and Gas, Average Sale Price and Production Cost The following table shows our depletion expense for the three and six months ended June 30, 2026 and 2025 related to oil and gas properties:
For the Three Months Ended June 30,
For the Six Months Ended June 30,
(in thousands, except per Mcfe amounts)20262025
2026
2025
Depletion of Proved Oil and Natural Gas Properties
38,75622,92072,68143,497
Average Depletion Rate per Mcfe
$1.23$1.27$1.24$1.36
Property, Plant, and Equipment
Our other property and equipment consists of the following assets that are recorded at cost and depreciated on a straight-line basis over the respective estimated useful lives.
June 30, 2026December 31, 2025
Midstream assets
$347,298$53,077
Other property and equipment5,3374,039
Gross midstream and other property and equipment
352,63557,116
Less: accumulated depreciation
(14,524)(7,416)
Total midstream and other property and equipment, net
$338,111$49,700
The estimated useful lives of other property and equipment depreciated on a straight-line basis are as follows:
Midstream assets
5 – 25 years
Vehicles
5 years
Furniture, fixtures, and office equipment
3 – 10 years
Leasehold improvements
5 years