v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,126 $ 10,157
Restricted cash 5,506 725,702
Derivative assets – current 3,592 322,784
Prepaid expenses 41,629 46,309
Other current assets 84,982 13,271
Total current assets 920,606 1,861,057
Oil and natural gas properties at cost, successful efforts method    
Proved 14,513,195 13,264,097
Unproved 512,857 413,444
Oil and natural gas properties at cost, successful efforts method 15,026,052 13,677,541
Field and other property and equipment, at cost 174,451 157,031
Total property, plant and equipment 15,200,503 13,834,572
Less: accumulated depreciation, depletion, amortization and impairment (4,610,514) (3,558,601)
Property, plant and equipment, net 10,589,989 10,275,971
Derivative assets – noncurrent 9,273 2,829
Investments in equity affiliates 10,466 8,146
Deferred tax asset 71,465 143,706
Other assets 157,417 151,498
TOTAL ASSETS 11,759,216 12,443,207
Current liabilities:    
Derivative liabilities – current 233,726 0
Financing lease obligations – current 4,066 4,860
Other current liabilities 110,439 86,603
Total current liabilities 1,378,549 1,259,420
Long-term debt 4,717,703 5,524,128
Derivative liabilities – noncurrent 21,067 13,421
Asset retirement obligations 387,094 383,057
Deferred tax liability 16,375 11,671
Financing lease obligations – noncurrent 1,027 3,228
Other liabilities 101,276 82,847
Total liabilities 6,623,091 7,277,772
Commitments and contingencies (Note 9)
Equity:    
Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of September 30, 2026 and December 31, 2025 0 0
Treasury stock, at cost; 7,208,254 and 7,079,021 shares of Class A common stock as of September 30, 2026 and December 31, 2025, respectively (72,690) (71,054)
Additional paid-in capital 5,200,121 5,228,928
Retained earnings (accumulated deficit) 0 0
Noncontrolling interests 8,661 7,528
Total equity 5,136,125 5,165,435
TOTAL LIABILITIES AND EQUITY 11,759,216 12,443,207
Nonrelated Party    
Current assets:    
Accounts receivable, net 768,503 738,333
Current liabilities:    
Accounts payable and accrued liabilities 1,010,370 1,121,678
Affiliated Entity    
Current assets:    
Accounts receivable, net 10,268 4,501
Current liabilities:    
Accounts payable and accrued liabilities 19,948 46,279
Class A Common Stock    
Equity:    
Common stock 33 33
Class B Common Stock    
Equity:    
Common stock $ 0 $ 0