Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUES:    
Net loss on natural gas, oil and NGL derivatives $ (15,813) $ (146,548)
Total revenues 437,532 197,034
OPERATING EXPENSES:    
Lease operating expenses 24,456 20,283
Taxes other than income 9,184 6,626
Transportation, gathering, processing and compression 90,567 82,870
Depreciation, depletion and amortization 75,430 65,622
General and administrative expenses 9,708 9,001
Accretion expense 598 618
Total operating expenses 209,943 185,020
INCOME FROM OPERATIONS 227,589 12,014
OTHER EXPENSE (INCOME):    
Interest expense 15,386 13,356
Other, net 1,698 (702)
Total other expense (income) 17,084 12,654
INCOME (LOSS) BEFORE INCOME TAXES 210,505 (640)
INCOME TAX EXPENSE (BENEFIT):    
Current 1,070 (169)
Deferred 43,613 (7)
Total income tax expense (benefit) 44,683 (176)
NET INCOME (LOSS) 165,822 (464)
Dividends on preferred stock 0 (862)
Participating securities - preferred stock 0 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 165,822 $ (1,326)
NET INCOME (LOSS) PER COMMON SHARE:    
Basic (in usd per share) $ 8.94 $ (0.07)
Diluted (in usd per share) $ 8.87 $ (0.07)
Weighted average common shares outstanding—Basic (in shares) 18,554 17,881
Weighted average common shares outstanding—Diluted (in shares) 18,695 17,881
Natural gas sales    
REVENUES:    
Revenue from contract with customer $ 399,530 $ 281,506
Oil and condensate sales    
REVENUES:    
Revenue from contract with customer 22,338 31,259
Natural gas liquid sales    
REVENUES:    
Revenue from contract with customer $ 31,477 $ 30,817