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 |
|
| Operating Revenues: | ||||
| Revenue | $ 272,419 | $ 216,472 | $ 488,304 | $ 488,783 |
| Operating Costs and Expenses: | ||||
| Crude oil and natural gas production | 32,641 | 33,726 | 62,165 | 69,288 |
| Gathering, processing and transportation | 17,234 | 16,072 | 34,967 | 30,935 |
| Production and ad valorem taxes | 13,254 | 12,391 | 25,154 | 27,543 |
| Exploration and abandonments | 4,444 | 1,109 | 5,186 | 1,373 |
| Depletion, depreciation and amortization | 113,429 | 101,226 | 226,443 | 210,551 |
| Accretion of discount | 302 | 256 | 597 | 500 |
| General and administrative | 7,004 | 5,671 | 12,749 | 12,016 |
| Stock-based compensation | 868 | 88 | 1,733 | 265 |
| Total operating costs and expenses | 189,176 | 170,539 | 368,994 | 352,471 |
| Other expense | 3,000 | 2,489 | 3,050 | 2,489 |
| Income from operations | 80,243 | 43,444 | 116,260 | 133,823 |
| Interest income | 1,032 | 361 | 1,981 | 1,171 |
| Interest expense | (35,978) | (36,412) | (71,016) | (73,400) |
| Gain (loss) on derivative instruments, net | 53,426 | 26,446 | (103,601) | 18,519 |
| Income before income taxes | 98,723 | 33,839 | (56,376) | 80,113 |
| Provision for income taxes | 16,448 | 7,663 | (11,203) | 17,602 |
| Net income | $ 82,275 | $ 26,176 | $ (45,173) | $ 62,511 |
| Earnings per share: | ||||
| Basic net income (in dollars per share) | $ 0.6 | $ 0.19 | $ (0.36) | $ 0.46 |
| Diluted net income (in dollars per share) | $ 0.59 | $ 0.19 | $ (0.36) | $ 0.45 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 125,286 | 123,930 | 125,276 | 123,922 |
| Diluted (in shares) | 126,409 | 126,095 | 125,276 | 126,169 |
| Dividends declared per share (in dollars per share) | $ 0 | $ 0.04 | $ 0 | $ 0.08 |
| Crude Oil Sales [Member] | ||||
| Operating Revenues: | ||||
| Revenue | $ 260,361 | $ 196,723 | $ 459,516 | $ 443,147 |
| Natural Gas and NGL Sales [Member] | ||||
| Operating Revenues: | ||||
| Revenue | $ 12,058 | $ 19,749 | $ 28,788 | $ 45,636 |
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- Definition The amount of expenses for gathering, processing and transportation. No definition available.
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- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A tax assessed on oil and gas production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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