Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUES:      
Net gain on natural gas, oil and NGL derivatives $ 99,056,000 $ 29,527,000 $ 740,319,000
Total revenues 1,422,583,000 958,131,000 1,791,702,000
OPERATING EXPENSES:      
Lease operating expenses 84,242,000 70,112,000 68,648,000
Taxes other than income 29,908,000 29,737,000 33,717,000
Transportation, gathering, processing and compression 358,938,000 351,237,000 348,631,000
Depreciation, depletion and amortization 304,162,000 325,723,000 319,715,000
Impairment of oil and natural gas properties 0 373,214,000 0
General and administrative expenses 42,488,000 42,558,000 38,600,000
Restructuring costs 0 0 4,762,000
Accretion expense 2,421,000 2,307,000 2,782,000
Total operating expenses 822,159,000 1,194,888,000 816,855,000
INCOME (LOSS) FROM OPERATIONS 600,424,000 (236,757,000) 974,847,000
OTHER EXPENSE (INCOME):      
Interest expense 54,277,000 59,982,000 57,069,000
Loss on debt extinguishment 0 13,388,000 0
Other, net 2,842,000 7,336,000 (27,982,000)
Total other expense 57,119,000 80,706,000 29,087,000
INCOME (LOSS) BEFORE INCOME TAXES 543,305,000 (317,463,000) 945,760,000
INCOME TAX EXPENSE (BENEFIT):      
Current 0 0 0
Deferred 115,495,000 (56,077,000) (525,156,000)
Total income tax expense (benefit) 115,495,000 (56,077,000) (525,156,000)
NET INCOME (LOSS) 427,810,000 (261,386,000) 1,470,916,000
Dividends on preferred stock (1,666,000) (4,230,000) (4,840,000)
Deemed dividend on preferred stock (29,986,000) 0 0
Participating securities - preferred stock 0 0 (212,360,000)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 396,158,000 $ (265,616,000) $ 1,253,716,000
NET INCOME (LOSS) PER COMMON SHARE:      
Basic (in dollars per share) $ 21.74 $ (14.72) $ 67.24
Diluted (in dollars per share) $ 21.48 $ (14.72) $ 66.46
Weighted average common shares outstanding - Basic (shares) 18,223 18,050 18,645
Weighted average common shares outstanding - Diluted (shares) 18,440 18,050 18,902
Natural gas sales      
REVENUES:      
Revenue from contracts with customers $ 1,056,429,000 $ 714,160,000 $ 831,812,000
Oil and condensate sales      
REVENUES:      
Revenue from contracts with customers 133,644,000 101,589,000 99,854,000
Natural gas liquid sales      
REVENUES:      
Revenue from contracts with customers $ 133,454,000 $ 112,855,000 $ 119,717,000