Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED BALANCE SHEETS

v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 2,571 $ 1,813
Accounts receivable—oil, natural gas, and natural gas liquids sales 145,364 184,649
Accounts receivable—joint interest and other 12,085 9,282
Prepaid expenses and other current assets 9,242 7,952
Short-term derivative instruments 124,813 45,155
Total current assets 294,075 248,851
Property and equipment:    
Proved oil and natural gas properties 4,416,238 3,902,539
Unproved properties 338,381 232,959
Other property and equipment 13,990 13,008
Total property and equipment 4,768,609 4,148,506
Less: accumulated depletion, depreciation and amortization (2,101,766) (1,868,481)
Total property and equipment, net 2,666,843 2,280,025
Other assets:    
Long-term derivative instruments 9,914 15,303
Deferred tax asset 371,427 465,738
Operating lease assets 24,358 561
Other assets 15,133 19,062
Total other assets 420,832 500,664
Total assets 3,381,750 3,029,540
Current liabilities:    
Accounts payable and accrued liabilities 335,157 342,382
Short-term derivative instruments 26,037 21,865
Current portion of operating lease liabilities 11,540 550
Total current liabilities 372,734 364,797
Non-current liabilities:    
Long-term derivative instruments 10,789 8,916
Asset retirement obligation 35,232 32,912
Non-current operating lease liabilities 12,884 10
Long-term debt 1,061,806 788,187
Total non-current liabilities 1,120,711 830,025
Total liabilities 1,493,445 1,194,822
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Common stock - $0.0001 par value, 42.0 million shares authorized, XX million issued and outstanding at September 30, 2026, and 18.8 million issued and outstanding at December 31, 2025 2 2
Additional paid-in capital 0 0
Retained earnings 1,888,303 1,834,716
Total stockholders’ equity 1,888,305 1,834,718
Total liabilities and stockholders’ equity $ 3,381,750 $ 3,029,540