v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We have evaluated how we are organized and managed and have identified one reportable segment, which is our interests related to the exploration and production of crude oil, natural gas and NGLs from operated and non-operated wells. We consider our gathering, processing and marketing functions as ancillary to our oil and gas producing activities. Substantially all of our operations and assets are located onshore in the United States, and substantially all of our revenues are attributable to United States customers.

The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The CODM uses measures of profitability including Net income (loss) on the condensed consolidated statement of operations to assess performance and determine resource allocation. The CODM uses these metrics to make key operating decisions, including the determination of allocation of capital between development of existing oil and gas properties and the acquisition of additional oil and gas properties, and the identification and divestiture of non-core assets. The measure of segment assets is reported on the consolidated balance sheets as Total assets. We do not have intra-entity sales or transfers.

The table below provides information about the Company’s single reportable segment:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in thousands)
Total revenues$1,351,212 $866,579 $3,928,996 $2,714,735 
Less:
Lease and asset operating expense229,393 187,125 670,671 559,594 
Workover expense30,886 23,105 94,131 58,486 
Gathering, processing and transportation90,190 93,427 286,744 304,789 
Production and other taxes78,412 55,430 203,119 170,917 
Depreciation, depletion and amortization374,895 298,450 1,087,024 878,079 
Impairment expense— 73,527 — 122,159 
Midstream and other operating expense5,312 27,796 16,216 86,639 
General and administrative expense excluding equity-based compensation42,418 50,165 120,705 111,341 
Equity-based compensation expense22,857 24,110 68,864 144,316 
Interest expense94,214 72,629 298,611 221,029 
Other segment items383,226 (28,916)1,008,974 (100,757)
Net income (loss)$(591)$(10,269)$73,937 $158,143 
Total development of oil and natural gas properties$326,090 $204,778 $994,938 $677,031 

Other segment items include Exploration expense, Gain (loss) on derivatives, (Gain) loss on sale of assets, Loss from extinguishment of debt, Other income (expense), Income (loss) from equity affiliates and Income tax benefit (expense) from our condensed consolidated statements of operations.