Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION

v3.26.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2026
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 Company's Chief Executive Officer (“CEO”) is the CODM and is responsible for assessing performance and allocating resources on an entity-wide basis. From January 1, 2026 through March 6, 2026, the Company's former President and CEO was the CODM. Following his departure on March 6, 2026, the Board of Directors established the Office of the Chairman, consisting of the Chairman of the Board, Chief Financial Officer (“CFO”), Chief Operating Officer and Chief Legal and Administrative Officer. The Office of the Chairman was the CODM until Domenic J. Dell'Osso, Jr. was named President, CEO and Director on May 28, 2026. Upon his appointment, the Office of the Chairman was discontinued and the Company's CODM transitioned to the CEO.
The CODM evaluates performance and allocates resources based on net income, 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 (in thousands):
Three Months Ended September 30, 2026 Three Months Ended September 30, 2025
Total revenues $ 362,474  $ 379,745 
Significant segment expenses
Lease operating expenses 19,954  20,793 
Taxes other than income 7,672  7,925 
Transportation, gathering, processing and compression 99,269  96,390 
Depreciation, depletion and amortization 85,324  83,216 
General and administrative 8,869  11,835 
Interest expense 17,287  13,590 
Other segment expenses(1)
1,338  3,193 
Income tax expense 26,361  31,410 
Total significant segment expenses 266,074  268,352 
Net income $ 96,400  $ 111,393 
Capital expenditures(2)
$ 250,220  $ 106,072 
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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.
Nine Months Ended September 30, 2026 Nine Months Ended September 30, 2025
Total revenues $ 1,123,234  $ 1,024,395 
Significant segment expenses
Lease operating expenses 64,241  58,704 
Taxes other than income 24,230  22,107 
Transportation, gathering, processing and compression 274,462  265,768 
Depreciation, depletion and amortization 233,807  222,481 
General and administrative 29,238  31,762 
Interest expense 48,465  40,677 
Other segment expenses(1)
4,407  4,597 
Income tax expense 95,060  82,904 
Total significant segment expenses 773,910  729,000 
Net income $ 349,324  $ 295,395 
Capital expenditures(2)
$ 617,653  $ 415,639 
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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.