SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | Paloma Acquisition On October 1, 2026, a wholly-owned subsidiary of the Company completed the acquisition of Paloma Permian, LLC (“Paloma”) from a portfolio company of EnCap Investments L.P., including certain proved undeveloped acreage and oil and natural gas producing properties located in Eddy and Lea Counties, New Mexico (the “Paloma Acquisition”). The Paloma Acquisition has an effective date of June 1, 2026 and an aggregate as-adjusted closing purchase price of approximately $1.255 billion, subject to customary post-closing adjustments, including for working capital and for title defects. The acquisition was funded through cash on hand and borrowings under the Credit Agreement, for which the elected commitment level was increased to $2.75 billion as discussed in Note 6, Debt. The Paloma Acquisition will be accounted for under the acquisition method of accounting as a business combination in accordance with ASC 805.
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