XML 19 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 95,324 $ 768,032
Accounts receivable, net:    
Oil and natural gas sales 573,077 343,500
Joint interest and other 178,643 135,816
Derivative assets 7,058 2,490
Prepaid income taxes 21,577 29,604
Prepaid expenses and other 73,066 48,988
Total current assets 948,745 1,328,430
Property and equipment (successful efforts method):    
Proved properties 12,135,971 6,774,635
Less: accumulated depreciation, depletion, and amortization (1,939,956) (1,214,484)
Total proved properties, net 10,196,015 5,560,151
Unproved properties 973,102 593,971
Wells in progress 535,499 407,351
Other property and equipment, net of accumulated depreciation of $9,016 in 2023 and $7,329 in 2022 63,006 49,632
Total property and equipment, net 11,767,622 6,611,105
Long-term derivative assets 1,872 794
Right-of-use assets 91,766 24,125
Other noncurrent assets 31,563 6,945
Total assets 12,841,568 7,971,399
Current liabilities:    
Accounts payable and accrued expenses 645,214 295,297
Production taxes payable 431,346 258,932
Oil and natural gas revenue distribution payable 745,214 538,343
Derivative liability 126,053 46,334
Asset retirement obligations 25,557 25,557
Lease liability 41,581 13,464
Deferred revenue 4,501 0
Total current liabilities 2,019,466 1,177,927
Long-term liabilities:    
Senior notes 3,049,888 393,293
Credit facility 650,000 0
Ad valorem taxes 231,472 412,650
Derivative liability 10,768 17,199
Deferred income tax liabilities, net 458,590 319,618
Asset retirement obligations 304,812 265,469
Lease liability 50,924 11,324
Deferred revenue 45,015 0
Total liabilities 6,820,935 2,597,480
Commitments and contingencies (Note 6)
Stockholders’ equity:    
Preferred stock, $.01 par value, 25,000,000 shares authorized, none outstanding 0 0
Common stock, $.01 par value, 225,000,000 shares authorized, 93,772,363 and 85,120,287 issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 5,004 4,918
Additional paid-in capital 4,955,206 4,211,197
Retained earnings 1,060,423 1,157,804
Total stockholders’ equity 6,020,633 5,373,919
Total liabilities and stockholders’ equity $ 12,841,568 $ 7,971,399