v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 101,656 $ (56,409)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, and amortization 80,074 44,892
Amortization of debt issuance costs 4,313 1,090
Share-based compensation expense 5,461 129,188
Loss (gain) on derivative instruments 7,592 (14,903)
Cash paid on settlement of derivative instruments (24,419) (808)
Non-cash lease expense 222 163
Deferred income taxes 4,557 (569)
Changes in operating assets and liabilities:    
Accounts receivable (37,973) 37,196
Prepaid expenses and other (2,015) 863
Accounts payable 7,587 11,443
Royalties payable 25,363 496
Accrued and other expenses 24,091 (2,941)
Other assets and liabilities (232) (5,070)
Net cash provided by operating activities 196,277 144,631
Cash flows from investing activities:    
Additions to oil and gas properties (241,128) (188,271)
Antero Acquisition (622,697) 0
Additions to midstream and other property and equipment (13,784) (6,275)
Net cash used in investing activities (877,609) (194,546)
Cash flows from financing activities:    
Borrowings under revolving credit facility 430,530 82,000
Payments on revolving credit facility (581,376) (307,000)
Proceeds from issuance of Notes 550,000 0
Proceeds from capital contributions 0 286,465
Proceeds from issuance of Series A Preferred Stock 350,000 0
Payments of credit facility debt issuance costs (13,625) (645)
Payments of Notes debt issuance costs (11,667) 0
Shares of Class A common stock withheld for employee tax obligations upon vesting RSUs (1,201) 0
Repurchases of Class A common stock (1,505) 0
Payments on notes payable (55) (66)
Net cash provided by (used in) financing activities 704,366 53,994
Net increase (decrease) in cash and cash equivalents 23,034 4,079
Cash and cash equivalents at beginning of period 2,849 2,203
Cash and cash equivalents at end of period 25,883 6,282
Series A Preferred Stock    
Cash flows from financing activities:    
Underwriting discounts and commissions (16,736) 0
Common Stock    
Cash flows from financing activities:    
Underwriting discounts and commissions $ 0 $ (6,760)