Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION

v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's assets and operations consist of one reportable segment with all revenues, operating expenses and assets attributable to this segment reflected in the consolidated financial statements. The Company derives its revenue from the sale of natural gas, oil and condensate and NGL produced from its oil and natural gas properties located in the United States.
The CODM of the Company is its Chief Executive Officer. The CODM assesses entity-wide operating results and performance and decides how to allocate resources based on net income (loss), which is reported on the consolidated statement of operations.
The measure of segment assets is reported on the consolidated balance sheets as “total assets”.
The following tables present selected financial information with respect to the Company's one operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended June 30, 2025 Three Months Ended June 30, 2024
Total revenues $ 447,616  $ 181,117 
Significant segment expenses
Lease operating expenses 17,628  15,817 
Taxes other than income 7,556  7,018 
Transportation, gathering, processing and compression 86,508  86,529 
Depreciation, depletion, and amortization 73,643  78,553 
General and administrative 10,926  10,752 
Interest expense 13,731  15,158 
Other segment expenses(1)
1,488  1,089 
Income tax expense (benefit) 51,670  (7,587)
Total significant segment expenses 263,150  207,329 
Net income (loss) $ 184,466  $ (26,212)
Capital expenditures(2)
$ 139,543  $ 149,733 
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(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.

Six Months Ended June 30, 2025 Six Months Ended June 30, 2024
Total revenues $ 644,650  $ 464,346 
Significant segment expenses
Lease operating expenses 37,911  32,625 
Taxes other than income 14,182  15,278 
Transportation, gathering, processing and compression 169,378  173,148 
Depreciation, depletion, and amortization 139,265  158,576 
General and administrative 19,927  19,950 
Interest expense 27,087  30,161 
Other segment expenses(1)
1,404  1,519 
Income tax expense 51,494  7,266 
Total significant segment expenses 460,648  438,523 
Net income $ 184,002  $ 25,823 
Capital expenditures(2)
$ 309,568  $ 282,808 
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(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.