v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in millions, except share data) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 442 $ 368
Accounts receivable 1,175 331
Derivative assets 93 83
Prepaid expenses and other 107 29
Total current assets 1,817 811
Property and equipment (successful efforts method):    
Proved oil and gas properties 23,924 16,012
Accumulated depletion, depreciation, and amortization (9,040) (8,793)
Unproved oil and gas properties, net of valuation allowance of $12 and $12, respectively 885 460
Wells in progress 848 458
Other property and equipment, net of accumulated depreciation of $68 and $63, respectively 138 65
Total property and equipment, net 16,755 8,202
Noncurrent assets:    
Derivative assets 12 6
Other noncurrent assets 379 234
Total noncurrent assets 391 240
Total assets 18,963 9,253
Current liabilities:    
Accounts payable and accrued expenses 2,505 690
Senior Notes, net 0 419
Derivative liabilities 552 2
Other current liabilities 130 58
Total current liabilities 3,187 1,169
Noncurrent liabilities:    
Revolving credit facility   0
Senior Notes, net 6,614 2,296
Asset retirement obligations 426 150
Deferred tax liabilities, net 609 724
Derivative liabilities 13 2
Other noncurrent liabilities 337 102
Total noncurrent liabilities 7,999 3,274
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.01 par value - authorized: 400,000,000 and 200,000,000 shares, respectively; issued and outstanding: 235,615,045 and 114,630,905 shares, respectively 2 1
Additional paid-in capital 3,813 1,517
Retained earnings 3,961 3,291
Accumulated other comprehensive income 1 1
Total stockholders’ equity 7,777 4,810
Total liabilities and stockholders’ equity $ 18,963 $ 9,253
Common Stock, Shares Authorized 400,000,000 200,000,000