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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 1,450,467 $ 1,123,368 $ 3,796,408 $ 2,931,956
Operating expenses        
Lease operating expenses 247,055 177,115 582,908 489,077
Gathering, processing and transportation expenses 77,353 52,294 194,467 132,706
Production taxes 100,973 72,485 244,410 191,490
Depreciation, depletion and amortization 360,214 160,293 757,036 431,131
General and administrative expenses 52,115 26,117 159,904 100,775
Total operating expenses 1,174,601 771,530 2,975,372 2,005,869
Gain (loss) on sale of assets, net (2,973) 899 13,814 3,739
Operating income 272,893 352,737 834,850 929,826
Other income (expense)        
Net gain (loss) on derivative instruments 52,721 (85,205) 29,753 11,247
Net gain from investment in unconsolidated affiliate 1,089 13,512 23,246 21,421
Interest expense, net of capitalized interest (19,146) (7,923) (38,946) (22,286)
Other income (expense) (2,657) 1,651 4,253 9,137
Total other income (expense), net 32,007 (77,965) 18,306 19,519
Income before income taxes 304,900 274,772 853,156 949,345
Income tax expense (79,584) (65,696) (215,126) (227,199)
Net income $ 225,316 $ 209,076 $ 638,030 $ 722,146
Earnings per share:        
Basic (in dollars per share) $ 3.63 $ 5.01 $ 12.61 $ 17.28
Diluted (in dollars per share) $ 3.59 $ 4.77 $ 12.34 $ 16.54
Weighted average shares outstanding:        
Basic (in shares) 61,802 41,563 50,388 41,670
Diluted (in shares) 62,629 43,662 51,507 43,527
Oil, NGL and gas revenues        
Revenues        
Total revenues $ 1,121,012 $ 840,625 $ 2,771,841 $ 2,302,251
Operating expenses        
Exploration and impairment 7,269 1,611 14,908 33,257
Purchased oil and gas sales        
Revenues        
Total revenues 329,455 282,743 1,024,567 629,705
Operating expenses        
Purchased oil and gas expenses $ 329,622 $ 281,615 $ 1,021,739 $ 627,433