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

SEGMENT INFORMATION

v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING 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 table presents selected financial information with respect to the Company's one operating segment for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31, 2025 Year Ended December 31, 2024 Year Ended December 31, 2023
Total revenues $ 1,422,583  $ 958,131  $ 1,791,702 
Significant segment expenses:
Lease operating expenses 84,242  70,112  68,648 
Taxes other than income 29,908  29,737  33,717 
Transportation, gathering, processing and compression 358,938  351,237  348,631 
Depreciation, depletion, and amortization 304,162  325,723  319,715 
Impairment of oil and gas properties —  373,214  — 
General and administrative 42,488  42,558  38,600 
Interest expense 54,277  59,982  57,069 
Other segment expenses(1)
5,263  23,031  (20,438)
Income tax expense (benefit) 115,495  (56,077) (525,156)
Total significant segment expenses 994,773  1,219,517  320,786 
Net income (loss) $ 427,810  $ (261,386) $ 1,470,916 
Capital expenditures(2)
$ 565,273  $ 464,492  $ 521,187 
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(1)    Other segment expenses include “Restructuring costs”, “Accretion expense”, “Loss on debt extinguishment” and “Other, net” from the consolidated statements of operations.
(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.