v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES:        
Net gain (loss) on natural gas, oil and NGL derivatives $ 136,101 $ (8,615) $ (10,447) $ 36,521
Total revenues 447,616 181,117 644,650 464,346
OPERATING EXPENSES:        
Lease operating expenses 17,628 15,817 37,911 32,625
Taxes other than income 7,556 7,018 14,182 15,278
Transportation, gathering, processing and compression 86,508 86,529 169,378 173,148
Depreciation, depletion and amortization 73,643 78,553 139,265 158,576
General and administrative expenses 10,926 10,752 19,927 19,950
Accretion expense 587 567 1,205 1,122
Total operating expenses 196,848 199,236 381,868 400,699
INCOME (LOSS) FROM OPERATIONS 250,768 (18,119) 262,782 63,647
OTHER EXPENSE:        
Interest expense 13,731 15,158 27,087 30,161
Other, net 901 522 199 397
Total other expense 14,632 15,680 27,286 30,558
INCOME (LOSS) BEFORE INCOME TAXES 236,136 (33,799) 235,496 33,089
INCOME TAX EXPENSE (BENEFIT):        
Current 274 0 105 0
Deferred 51,396 (7,587) 51,389 7,266
Total income tax expense (benefit) 51,670 (7,587) 51,494 7,266
NET INCOME (LOSS) 184,466 (26,212) 184,002 25,823
Dividends on preferred stock (804) (1,095) (1,666) (2,200)
Participating securities - preferred stock (20,622) 0 (20,385) (3,469)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 163,040 $ (27,307) $ 161,951 $ 20,154
NET INCOME (LOSS) PER COMMON SHARE:        
Basic (in usd per share) $ 9.21 $ (1.51) $ 9.10 $ 1.11
Diluted (in usd per share) $ 9.12 $ (1.51) $ 9.01 $ 1.09
Weighted average common shares outstanding - Basic (in shares) 17,707 18,144 17,793 18,169
Weighted average common shares outstanding - Diluted (in shares) 17,907 18,144 18,009 18,573
Natural gas sales        
REVENUES:        
Revenue from contract with customer $ 241,236 $ 144,458 $ 522,742 $ 332,744
Oil and condensate sales        
REVENUES:        
Revenue from contract with customer 41,543 19,127 72,802 40,828
Natural gas liquid sales        
REVENUES:        
Revenue from contract with customer $ 28,736 $ 26,147 $ 59,553 $ 54,253

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