Leases (Tables)

9 Months Ended

Sep. 30, 2026

Other information related to operating and finance leases at September 30, 2026 and December 31, 2025, is as follows:


	September 30, 2026		December 31, 2025
	(In thousands)
Balance sheet classifications
Operating leases
Other assets (right-of-use assets)	$	8,087	$	10,059
Accrued liabilities (current maturities of leases)	3,126		2,777
Other long-term liabilities (non-current maturities of leases)	7,060		9,438
Finance leases
Property and equipment, net(1)	68,755		—
Accrued liabilities	63,884		—

(1) Represents proved property additions for the Company’s proportionate share of the TEN FPSO finance lease asset of $88.2 million, partially offset by depletion expense of approximately $19.4 million during the nine months ended September 30, 2026.

Schedule of Future Minimum Rental Commitments

Future minimum rental commitments under our leases as of September 30, 2026, are as follows:


	Operating Leases(1)		Financing Leases(1)
	(In thousands)
2026(2)	$	1,011	$	13,536
2027	3,952		52,514
2028	3,744		—
2029	3,176		—
2030	—		—
Thereafter	—		—
Total undiscounted lease payments	$	11,883	$	66,050
Less: Imputed interest	(1,697)		(2,166)
Total lease liabilities	$	10,186	$	63,884

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(1) Does not include purchase commitments for jointly owned fields and facilities where we are not the operator and excludes commitments for exploration activities, including well commitments, in our petroleum contracts.

(2) Represents the period October 1, 2026 through December 31, 2026