Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of the Company's property and equipment

The following table presents a summary of the Company’s property and equipment balances as of December 31, 2023 and 2022 (in thousands).

	December 31,
	2023		2022
Oil and natural gas properties
Evaluated (subject to amortization)	$	9,633,757	$	6,862,455
Unproved and unevaluated (not subject to amortization)	1,193,257		977,502
Total oil and natural gas properties	10,827,014		7,839,957
Accumulated depletion	(5,034,243)		(4,362,292)
Net oil and natural gas properties	5,792,771		3,477,665
Midstream properties
Midstream equipment and facilities	1,318,015		1,057,668
Accumulated depreciation	(167,116)		(126,706)
Net midstream properties	1,150,899		930,962
Other property and equipment
Furniture, fixtures and other equipment	17,985		13,257
Software	8,241		8,225
Leasehold improvements	14,149		11,365
Total other property and equipment	40,375		32,847
Accumulated depreciation	(27,604)		(23,277)
Net other property and equipment	12,771		9,570
Net property and equipment	$	6,956,441	$	4,418,197

Breakdown of the Company's unproved and unevaluated property costs not subject to amortization

The following table provides a breakdown of the Company’s unproved and unevaluated property costs not subject to amortization as of December 31, 2023 and the year in which these costs were incurred (in thousands).

Description	2023		2022		2021		2020		2019 and prior		Total
Costs incurred for
Property acquisition	$	326,437	$	97,748	$	109,718	$	40,355	$	546,592	$	1,120,850
Exploration wells	21,359		1,298		488		303		722		24,170
Development wells	42,904		2,198		908		542		1,685		48,237
Total	$	390,700	$	101,244	$	111,114	$	41,200	$	548,999	$	1,193,257