Chord Energy (CHRD) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-34776
Entity Registrant Name	Chord Energy Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0554627
Entity Address, Address Line One	1001 Fannin Street
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	281
Local Phone Number	404-9500
Title of 12(b) Security	Common Stock
Trading Symbol	CHRD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		41,693,424
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001486159
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 296,354	$ 317,998
Accounts receivable, net	982,062	943,114
Inventory	78,118	72,565
Prepaid expenses	30,135	42,450
Derivative instruments	26,540	37,369
Other current assets	2,033	11,055
Total current assets	1,415,242	1,424,551
Property, plant and equipment
Oil and gas properties (successful efforts method)	6,575,306	6,320,243
Other property and equipment	49,087	49,051
Less: accumulated depreciation, depletion and amortization	(1,218,284)	(1,054,616)
Total property, plant and equipment, net	5,406,109	5,314,678
Derivative instruments	22,231	22,526
Investment in unconsolidated affiliate	114,181	100,172
Long-term inventory	28,360	22,936
Operating right-of-use assets	19,218	21,343
Other assets	20,173	19,944
Total assets	7,025,514	6,926,150
Current liabilities
Accounts payable	39,511	34,453
Revenues and production taxes payable	592,888	604,704
Accrued liabilities	545,820	493,381
Accrued interest payable	8,532	2,157
Derivative instruments	19,523	14,209
Advances from joint interest partners	2,484	2,381
Current operating lease liabilities	13,691	13,258
Other current liabilities	22,671	916
Total current liabilities	1,245,120	1,165,459
Long-term debt	396,324	395,902
Deferred tax liabilities	122,288	95,322
Asset retirement obligations	155,696	155,040
Derivative instruments	3,022	717
Operating lease liabilities	15,993	18,667
Other liabilities	11,893	18,419
Total liabilities	1,950,336	1,849,526
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value: 120,000,000 shares authorized, 45,527,230 shares issued and 41,551,082 shares outstanding at March 31, 2024; and 120,000,000 shares authorized, 45,032,537 shares issued and 41,249,658 shares outstanding at December 31, 2023	459	456
Treasury stock, at cost: 3,976,148 shares at March 31, 2024 and 3,782,879 shares at December 31, 2023	(523,288)	(493,289)
Additional paid-in capital	3,575,557	3,608,819
Retained earnings	2,022,450	1,960,638
Total stockholders’ equity	5,075,178	5,076,624
Total liabilities and stockholders’ equity	$ 7,025,514	$ 6,926,150

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	45,527,230	45,032,537
Common stock, shares outstanding (in shares)	41,551,082	41,249,658
Treasury stock, shares (in shares)	3,976,148	3,782,879

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Total revenues	$ 1,085,260	$ 896,517
Operating expenses
Lease operating expenses	159,206	153,408
Gathering, processing and transportation expenses	53,984	37,015
Production taxes	63,911	60,517
Depreciation, depletion and amortization	168,894	133,791
General and administrative expenses	25,712	32,484
Total operating expenses	813,623	571,672
Gain on sale of assets, net	1,302	1,227
Operating income	272,939	326,072
Other income (expense)
Net gain (loss) on derivative instruments	(27,577)	66,934
Net gain (loss) from investment in unconsolidated affiliate	16,296	(2,216)
Interest expense, net of capitalized interest	(7,592)	(7,135)
Other income	2,826	5,193
Total other income (expense), net	(16,047)	62,776
Income before income taxes	256,892	388,848
Income tax expense	(57,539)	(91,849)
Net income	$ 199,353	$ 296,999
Earnings per share:
Basic (in dollars per share)	$ 4.79	$ 7.13
Diluted (in dollars per share)	$ 4.65	$ 6.87
Weighted average shares outstanding:
Basic (in shares)	41,468	41,568
Diluted (in shares)	42,747	43,149
Oil, NGL and gas revenues
Revenues
Total revenues	$ 748,162	$ 766,200
Operating expenses
Exploration and impairment	6,154	24,864
Purchased oil and gas sales
Revenues
Total revenues	337,098	130,317
Operating expenses
Purchased oil and gas expenses	$ 335,762	$ 129,593

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings
Beginning balance, common stock (in shares) at Dec. 31, 2022		41,477,000
Beginning balance at Dec. 31, 2022	$ 4,679,798	$ 438	$ (251,950)	$ 3,485,819	$ 1,445,491
Beginning balance, treasury stock (in shares) at Dec. 31, 2022			2,249,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation and vestings (in shares)		210,000
Equity-based compensation and vestings	11,854	$ 2		11,852
Tax withholdings on settlement of equity-based awards (in shares)		(77,000)
Tax withholdings on settlement of equity-based awards	(10,300)	$ (1)		(10,299)
Dividends	$ (204,884)				(204,884)
Share repurchases (in shares)	110,667	111,000	(111,000)
Share repurchases	$ (15,003)		$ (15,003)
Warrants exercised (in shares)	82,954	39,000
Warrants exercised	$ 276			276
Net income	296,999				296,999
Ending balance, common stock (in shares) at Mar. 31, 2023		41,538,000
Ending balance at Mar. 31, 2023	$ 4,758,740	$ 439	$ (266,953)	3,487,648	1,537,606
Ending balance, treasury stock (in shares) at Mar. 31, 2023			2,360,000
Beginning balance, common stock (in shares) at Dec. 31, 2023	41,249,658	41,250,000
Beginning balance at Dec. 31, 2023	$ 5,076,624	$ 456	$ (493,289)	3,608,819	1,960,638
Beginning balance, treasury stock (in shares) at Dec. 31, 2023	(3,782,879)		3,783,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation and vestings (in shares)		599,000
Equity-based compensation and vestings	$ 4,775	$ 4		4,771
Tax withholdings on settlement of equity-based awards (in shares)		(280,000)
Tax withholdings on settlement of equity-based awards	(46,051)	$ (3)		(46,048)
Dividends	$ (137,541)				(137,541)
Share repurchases (in shares)	193,269	(193,000)	193,000
Share repurchases	$ (29,999)		$ (29,999)
Warrants exercised (in shares)	420,157	175,000
Warrants exercised	$ 8,017	$ 2		8,015
Net income	$ 199,353				199,353
Ending balance, common stock (in shares) at Mar. 31, 2024	41,551,082	41,551,000
Ending balance at Mar. 31, 2024	$ 5,075,178	$ 459	$ (523,288)	$ 3,575,557	$ 2,022,450
Ending balance, treasury stock (in shares) at Mar. 31, 2024	(3,976,148)		3,976,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 199,353	$ 296,999
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	168,894	133,791
Gain on sale of assets	(1,302)	(1,227)
Impairment	3,919	23,304
Deferred income taxes	26,966	73,923
Net (gain) loss on derivative instruments	27,577	(66,934)
Net (gain) loss from investment in unconsolidated affiliate	(16,296)	2,216
Equity-based compensation expenses	4,771	11,854
Deferred financing costs amortization and other	2,663	(3,791)
Working capital and other changes:
Change in accounts receivable, net	(62,081)	(14,657)
Change in inventory	(9,471)	(12,753)
Change in prepaid expenses	(291)	1,211
Change in accounts payable, interest payable and accrued liabilities	29,147	8,176
Change in other assets and liabilities, net	32,849	16,699
Net cash provided by operating activities	406,698	468,811
Cash flows from investing activities:
Capital expenditures	(222,149)	(172,328)
Acquisitions, net of cash acquired	(334)	0
Proceeds from divestitures, net of cash divested	2,371	7,034
Derivative settlements	(12,062)	(91,656)
Proceeds from sale of investment in unconsolidated affiliate	0	12,347
Contingent consideration received	25,000	0
Distributions from investment in unconsolidated affiliate	2,287	3,015
Net cash used in investing activities	(204,887)	(241,588)
Cash flows from financing activities:
Repurchases of common stock	(31,999)	(15,003)
Tax withholding on vesting of equity-based awards	(46,051)	(10,300)
Dividends paid	(152,389)	(202,473)
Payments on finance lease liabilities	(386)	(388)
Proceeds from warrants exercised	7,370	90
Net cash used in financing activities	(223,455)	(228,074)
Decrease in cash and cash equivalents	(21,644)	(851)
Cash and cash equivalents:
Beginning of period	317,998	593,151	$ 593,151
End of period	296,354	592,300	$ 317,998
Supplemental non-cash transactions:
Change in accrued capital expenditures	25,312	46,097
Change in asset retirement obligations	973	234
Dividends payable	$ 17,587	$ 15,798

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Chord Energy Corporation (together with its consolidated subsidiaries, the “Company” or “Chord”) is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the Condensed Consolidated Balance Sheet at December 31, 2023 is derived from audited financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for the fair statement of the Company’s financial position, have been included. Management has made certain estimates and assumptions that affect reported amounts in the unaudited condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. These interim financial statements have been prepared pursuant to the rules and regulations of the SEC regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Annual Report”). Pending Acquisition On February 21, 2024, the Company entered into an arrangement agreement (the “Arrangement Agreement”) with Enerplus Corporation, a corporation existing under the laws of the Province of Alberta, Canada (“Enerplus”), and Spark Acquisition ULC, an unlimited liability company organized and existing under the laws of the Province of Alberta, Canada and a wholly-owned subsidiary of the Company, pursuant to which, among other things, the Company has agreed to acquire Enerplus in a stock-and-cash transaction (such transaction, the “Arrangement”), subject to satisfaction of certain closing conditions. The transaction will be effected by way of a plan of arrangement under the Business Corporations Act (Alberta) (the “Plan of Arrangement”). Enerplus is an independent North American oil and gas exploration and production company. Under the terms of the Arrangement Agreement, Enerplus shareholders will receive 0.10125 shares of Chord common stock and $1.84 in cash in exchange for each common share of Enerplus they own at closing. The transaction is expected to close in the second quarter of 2024. Risks and Uncertainties As a producer of crude oil, NGLs and natural gas, the Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for crude oil, NGLs and natural gas, which are dependent upon numerous factors beyond its control such as economic, geopolitical, political and regulatory developments and competition from other energy sources. The energy markets have historically been very volatile, and there can be no assurance that the prices for crude oil, NGLs or natural gas will not be subject to wide fluctuations in the future. A substantial or extended decline in prices for crude oil and, to a lesser extent, NGLs and natural gas, could have a material adverse effect on the Company’s financial position, results of operations, cash flows, the quantities of crude oil, NGL and natural gas reserves that may be economically produced and the Company’s access to capital. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies and estimates from those disclosed in the 2023 Annual Report. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). This standard clarifies that single reportable segment entities are subject to the disclosure requirements under Topic 280 in its entirety. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years beginning after December 15, 2024. The Company is currently evaluating this ASU to determine its impact on the Company’s annual financial statement disclosures. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” to expand the disclosure requirements for income taxes, specifically relating to the effective tax rate reconciliation and additional disclosures on income taxes paid. The Company expects to adopt this ASU effective January 1, 2025, and the adoption is not expected to affect the Company’s financial position or results of operations, but will result in additional disclosures. In March 2024, the SEC released its final rule on climate-related disclosures, requiring the disclosure of certain climate-related risks, management and governance practices, and financial impacts, as well as greenhouse gas emissions. Large accelerated filers will be required to incorporate the applicable climate-related disclosures into their filings for annual reporting periods beginning in fiscal year 2025, with additional requirements relating to greenhouse gas emissions effective for annual reporting periods beginning in fiscal year 2026. In April 2024, the SEC paused implementation of the final rule pending the resolution of consolidated legal challenges that are currently proceeding before the U.S. Court of Appeals for the Eighth Circuit. The Company is currently evaluating the impact of this rule on its financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenues from contracts with customers were as follows for the periods presented: Three Months Ended March 31, 2024 2023 (In thousands) Crude oil revenues $ 678,851 $ 650,908 Purchased crude oil sales 326,647 109,265 NGL and natural gas revenues 69,311 115,292 Purchased NGL and natural gas sales 10,451 21,052 Total revenues $ 1,085,260 $ 896,517 The Company records revenue when the performance obligations under the terms of its customer contracts are satisfied. For sales of commodities, the Company records revenue in the month the production or purchased product is delivered to the purchaser. However, settlement statements and payments are typically not received for 20 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production that was delivered to the purchaser and the price that will be received for the sale of the product. The Company uses knowledge of its properties, its properties’ historical performance, spot market prices and other factors as the basis for these estimates. The Company records the differences between estimates and the actual amounts received for product sales once payment is received from the purchaser. In certain cases, the Company is required to estimate these volumes during a reporting period and record any differences between the estimated volumes and actual volumes in the following reporting period. Differences between estimated and actual revenues have historically not been significant. For the three months ended March 31, 2024 and 2023, revenue recognized related to performance obligations satisfied in prior reporting periods was not material.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory The following table sets forth the Company’s inventory balances for the periods presented: March 31, 2024 December 31, 2023 (In thousands) Inventory Equipment and materials $ 34,535 $ 30,201 Crude oil inventory 43,583 42,364 Total inventory 78,118 72,565 Long-term inventory Linefill in third-party pipelines 28,360 22,936 Total long-term inventory 28,360 22,936 Total $ 106,478 $ 95,501

Additional Balance Sheet Inform

Additional Balance Sheet Information	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet Information	Additional Balance Sheet Information The following table sets forth certain balance sheet amounts comprised of the following: March 31, 2024 December 31, 2023 (In thousands) Accounts receivable, net Trade and other accounts $ 795,285 $ 749,356 Joint interest accounts 198,930 207,571 Total accounts receivable 994,215 956,927 Less: allowance for credit losses (12,153) (13,813) Total accounts receivable, net $ 982,062 $ 943,114 Revenues and production taxes payable Royalties payable $ 287,704 $ 297,531 Revenue suspense 262,372 266,704 Production taxes payable 42,812 40,469 Total revenue and production taxes payable $ 592,888 $ 604,704 Accrued liabilities Accrued oil and gas marketing $ 212,700 $ 165,141 Accrued capital costs 147,572 122,260 Accrued lease operating expenses 109,446 107,606 Accrued general and administrative expenses 19,592 37,882 Current portion of asset retirement obligations 15,053 10,507 Accrued dividends 17,573 25,167 Other accrued liabilities 23,884 24,818 Total accrued liabilities $ 545,820 $ 493,381

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with the FASB’s authoritative guidance on fair value measurements, certain of the Company’s financial assets and liabilities are measured at fair value on a recurring basis. The Company’s financial instruments, including certain cash and cash equivalents, accounts receivable, accounts payable and other payables, are carried at cost, which approximates their respective fair market values due to their short-term maturities. The Company recognizes its non-financial assets and liabilities, such as asset retirement obligations (“ARO”) and properties acquired in a business combination or upon impairment, at fair value on a non-recurring basis. Financial Assets and Liabilities Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The following tables set forth by level, within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Fair value at March 31, 2024 Level 1 Level 2 Level 3 Total (In thousands) Assets: Commodity derivative contracts (see Note 6) $ — $ 44 $ 2,647 $ 2,691 Contingent consideration (see Note 6) — 46,080 — 46,080 Investment in unconsolidated affiliate (see Note 10) 114,181 — — 114,181 Total assets $ 114,181 $ 46,124 $ 2,647 $ 162,952 Liabilities: Commodity derivative contracts (see Note 6) $ — $ 22,545 $ — $ 22,545 Total liabilities $ — $ 22,545 $ — $ 22,545 Fair value at December 31, 2023 Level 1 Level 2 Level 3 Total (In thousands) Assets: Commodity derivative contracts (see Note 6) $ — $ 11,312 $ 5,877 $ 17,189 Contingent consideration (see Note 6) — 42,706 — 42,706 Investment in unconsolidated affiliate (see Note 10) 100,172 — — 100,172 Total assets $ 100,172 $ 54,018 $ 5,877 $ 160,067 Liabilities: Commodity derivative contracts (see Note 6) $ — $ 14,926 $ — $ 14,926 Total liabilities $ — $ 14,926 $ — $ 14,926 Commodity derivative contracts . The Company enters into commodity derivative contracts to manage risks related to changes in crude oil, NGL and natural gas prices. The Company’s swaps, collars and basis swaps are valued by a third-party preparer based on an income approach. The significant inputs used are commodity prices, discount rate and the contract terms of the derivative instruments. These assumptions are observable in the marketplace throughout the full term of the contract, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace and are therefore designated as Level 2 within the fair value hierarchy. The Company recorded a credit risk adjustment to reduce the fair value of its net derivative liability for these contracts by $0.3 million and $0.5 million at March 31, 2024 and December 31, 2023, respectively. See Note 6—Derivative Instruments for additional information. Transportation derivative contracts. The Company has buy/sell transportation contracts that are derivative contracts for which the Company has not elected the “normal purchase normal sale” exclusion under FASB Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging . These transportation derivative contracts are valued by a third-party preparer based on an income approach. The significant inputs used are quoted forward prices for commodities, market differentials for crude oil and either the Company’s or the counterparty’s nonperformance risk, as appropriate. The assumptions used in the valuation of these contracts include certain market differential metrics that are unobservable during the term of the contracts. Such unobservable inputs are significant to the contract valuation methodology, and the contracts’ fair values are therefore designated as Level 3 within the fair value hierarchy. See Note 6—Derivative Instruments for additional information. Contingent consideration. In June 2021, the Company completed the divestiture of oil and gas properties in the Texas region of the Permian Basin. In connection with the divestiture, the Company is entitled to receive up to three earn-out payments of $25.0 million per year for each of 2023, 2024 and 2025 if the average daily settlement price of NYMEX West Texas Intermediate crude oil price index (“NYMEX WTI”) exceeds $60 per barrel for such year (the “Permian Basin Sale Contingent Consideration”). If NYMEX WTI for calendar year 2023 or 2024 is less than $45 per barrel, then each calendar year thereafter the buyer’s obligation to make any remaining earn-out payments is terminated. The fair value of the Permian Basin Sale Contingent Consideration is determined by a third-party preparer using a Monte Carlo simulation model and Ornstein-Uhlenbeck pricing process. The significant inputs used are NYMEX WTI forward price curve, volatility, mean reversion rate and counterparty credit risk adjustment. The Company determined these were Level 2 fair value inputs that are substantially observable in active markets or can be derived from observable data. During the three months ended March 31, 2024, the Company received $25.0 million related to the 2023 earn-out payment. See Note 6—Derivative Instruments for additional information. Investment in unconsolidated affiliate. The Company owns common units in Energy Transfer LP (“Energy Transfer”) which are accounted for using the fair value option under FASB ASC 825-10, Financial Instruments . The fair value of the Company’s investment in Energy Transfer was determined using Level 1 inputs based upon the quoted market price of Energy Transfer’s publicly traded common units at March 31, 2024 and December 31, 2023. See Note 10—Investment in Unconsolidated Affiliate for additional information. Non-Financial Assets and Liabilities The fair value of the Company’s non-financial assets and liabilities measured on a non-recurring basis are determined using valuation techniques that include Level 3 inputs. Asset retirement obligations. The initial measurement of ARO at fair value is recorded in the period in which the liability is incurred. Fair value is determined by calculating the present value of estimated future cash flows related to the liability. Estimating the future ARO requires management to make estimates and judgments regarding the timing and existence of a liability, as well as what constitutes adequate restoration when considering current regulatory requirements. Inherent in the fair value calculation are numerous assumptions and judgments, including the ultimate costs, inflation factors, credit-adjusted discount rates, timing of settlement and changes in the legal, environmental and regulatory environments. Oil and gas and other properties. The Company records its properties at fair value when acquired in a business combination or upon impairment for proved oil and gas properties and other properties. Fair value is determined using a discounted cash flow model. The inputs used are subject to management’s judgment and expertise and include, but are not limited to, future production volumes based upon estimates of proved reserves, future commodity prices (adjusted for basis differentials), estimates of future operating and development costs and a risk-adjusted discount rate. These inputs are classified as Level 3 inputs, except the underlying commodity price assumptions are based on NYMEX forward strip prices (Level 1) and adjusted for price differentials. 2023 Williston Basin Acquisition. On June 30, 2023, the Company completed the 2023 Williston Basin Acquisition (defined in Note 8—Acquisitions). The assets acquired and liabilities assumed were recorded at fair value as of June 30, 2023. The fair value of the oil and gas properties acquired was calculated using an income approach based on the net discounted future cash flows from the oil and gas properties. The inputs utilized in the valuation of the oil and gas properties acquired included mostly unobservable inputs which fall within Level 3 of the fair value hierarchy. Such inputs included estimates of future oil and gas production from the properties’ reserve reports, commodity prices based on forward strip price curves (adjusted for basis differentials), operating and development costs, expected future development plans for the properties and the utilization of a discount rate based on a market-based weighted-average cost of capital. The Company also recorded the ARO assumed from the 2023 Williston Basin Acquisition at fair value. The inputs utilized in valuing the ARO were mostly Level 3 unobservable inputs, including estimated economic lives of oil and natural gas wells as of June 30, 2023, anticipated future plugging and abandonment costs and an appropriate credit-adjusted risk-free rate to discount such costs. See Note 8—Acquisitions for additional information.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Commodity derivative contracts. The Company utilizes derivative financial instruments to manage risks related to changes in commodity prices. The Company’s crude oil contracts settle monthly based on the average NYMEX WTI crude index price and its natural gas contracts settle monthly based on the average NYMEX Henry Hub natural gas index price. The Company utilizes derivative financial instruments including fixed-price swaps and two-way and three-way collars to manage risks related to changes in commodity prices. The Company’s fixed-price swaps are designed to establish a fixed price for the volumes under contract. Two-way collars are designed to establish a minimum price (floor) and a maximum price (ceiling) for the volumes under contract. Three-way collars are designed to establish a minimum price (floor), unless the market price falls below the sold put (sub-floor), at which point the minimum price would be the index price plus the difference between the purchased put and the sold put strike price. The sold call establishes a maximum price (ceiling) for the volumes under contract. The Company may, from time to time, restructure existing derivative contracts or enter into new transactions to effectively modify the terms of current contracts in order to improve the pricing parameters in existing contracts. At March 31, 2024, the Company had the following outstanding commodity derivative contracts: Commodity Settlement Derivative Volumes Weighted Average Prices Fixed-Price Swaps Sub-Floor Floor Ceiling Crude oil 2024 Two-way collars 4,395,000 Bbls $ 65.30 $ 82.62 Crude oil 2024 Three-way collars 736,000 Bbls $ 55.00 $ 71.25 $ 92.14 Crude oil 2024 Fixed-price swaps 639,000 Bbls $ 74.89 Crude oil 2025 Two-way collars 1,181,000 Bbls $ 60.00 $ 79.05 Crude oil 2025 Three-way collars 2,371,000 Bbls $ 52.69 $ 67.69 $ 82.14 Crude oil 2026 Three-way collars 270,000 Bbls $ 50.00 $ 65.00 $ 83.70 Natural gas 2025 Fixed-price swaps 651,600 MMBtu $ 3.93 Subsequent to March 31, 2024, the Company entered into the following commodity derivative contracts: Weighted Average Prices Commodity Settlement Period Derivative Instrument Volumes Fixed-Price Swaps Floor Ceiling Crude oil 2024 Two-way collars 736,000 Bbls $ 75.00 $ 88.15 Crude oil 2024 Fixed-price swaps 550,000 Bbls $ 80.01 Transportation derivative contracts. The Company has contracts that provide for the transportation of crude oil through a buy/sell structure from North Dakota to either Cushing, Oklahoma or Guernsey, Wyoming. The Company determined that these contracts qualified as derivatives and did not elect the “normal purchase normal sale” exclusion. As of December 31, 2023, the term of one of these contracts expired. The remaining contract requires the purchase and sale of fixed volumes of crude oil through July 2024 as specified in the agreement. As of March 31, 2024 and December 31, 2023, the estimated fair value of the remaining contract was a $2.6 million asset and a $5.9 million asset, respectively, which was classified as a current derivative asset on the Company’s Condensed Consolidated Balance Sheet. The Company records the changes in fair value of these contracts to gathering, processing and transportation (“GPT”) expenses on the Company’s Condensed Consolidated Statement of Operations. Settlements on these contracts are reflected as operating activities on the Company’s Condensed Consolidated Statements of Cash Flows and represent cash payments to the counterparties for transportation of crude oil or the net settlement of contract liabilities if the transportation was not utilized, as applicable. See Note 5—Fair Value Measurements for additional information. Contingent consideration. The Company bifurcated the Permian Basin Sale Contingent Consideration from the host contract and accounted for it separately at fair value. The Permian Basin Sale Contingent Consideration is marked-to-market each reporting period, with changes in fair value recorded in the other income (expense) section of the Company’s Condensed Consolidated Statements of Operations as a net gain or loss on derivative instruments. As of March 31, 2024, the estimated fair value of the Permian Basin Sale Contingent Consideration was $46.1 million, of which $23.8 million was classified as a current derivative asset and $22.2 million was classified as a non-current derivative asset on the Condensed Consolidated Balance Sheet. As of December 31, 2023, the estimated fair value of the Permian Basin Sale Contingent Consideration was $42.7 million, of which $22.6 million was classified as a current derivative asset and $20.1 million was classified as a non-current derivative asset on the Condensed Consolidated Balance Sheet. See Note 5—Fair Value Measurements for additional information. The following table summarizes the location and amounts of gains and losses from the Company’s derivative instruments recorded in the Company’s Condensed Consolidated Statements of Operations for the periods presented: Three Months Ended March 31, Derivative Instrument Statements of Operations Location 2024 2023 (In thousands) Commodity derivatives Net gain (loss) on derivative instruments $ (30,951) $ 65,840 Commodity derivatives (buy/sell transportation contracts) Gathering, processing and transportation expenses (1) (3,229) 11,157 Contingent consideration Net gain (loss) on derivative instruments 3,374 1,094 __________________ (1) The change in the fair value of the transportation derivative contracts was recorded in GPT expenses as a loss for the three months ended March 31, 2024 and as a gain for the three months ended March 31, 2023. In accordance with the FASB’s authoritative guidance on disclosures about offsetting assets and liabilities, the Company is required to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting agreement. The Company’s derivative instruments are presented as assets and liabilities on a net basis by counterparty, as all counterparty contracts provide for net settlement. No margin or collateral balances are deposited with counterparties, and as such, gross amounts are offset to determine the net amounts presented in the Company’s Condensed Consolidated Balance Sheets. The following table summarizes the location and fair value of all outstanding derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets: March 31, 2024 Derivative Instrument Balance Sheet Location Gross Amount Gross Amount Offset Net Amount (In thousands) Derivatives assets: Commodity derivatives Derivative instruments — current assets $ 9,317 $ (9,273) $ 44 Contingent consideration Derivative instruments — current assets 23,849 — 23,849 Commodity derivatives (buy/sell transportation contracts) Derivative instruments — current assets 2,647 — 2,647 Commodity derivatives Derivative instruments — non-current assets 14,485 (14,485) — Contingent consideration Derivative instruments — non-current assets 22,231 — 22,231 Total derivatives assets $ 72,529 $ (23,758) $ 48,771 Derivatives liabilities: Commodity derivatives Derivative instruments — current liabilities $ 28,796 $ (9,273) $ 19,523 Commodity derivatives Derivative instruments — non-current liabilities 17,507 (14,485) 3,022 Total derivatives liabilities $ 46,303 $ (23,758) $ 22,545 December 31, 2023 Derivative Instrument Balance Sheet Location Gross Amount Gross Amount Offset Net Amount (In thousands) Derivatives assets: Commodity derivatives Derivative instruments — current assets $ 20,647 $ (11,769) $ 8,878 Contingent consideration Derivative instruments — current assets 22,614 — 22,614 Commodity derivatives (buy/sell transportation contracts) Derivative instruments — current assets 5,877 — 5,877 Commodity contracts Derivative instruments — non-current assets 16,760 (14,326) 2,434 Contingent consideration Derivative instruments — non-current assets 20,092 — 20,092 Total derivatives assets $ 85,990 $ (26,095) $ 59,895 Derivatives liabilities: Commodity derivatives Derivative instruments — current liabilities $ 25,978 $ (11,769) $ 14,209 Commodity derivatives Derivative instruments — non-current liabilities 15,043 (14,326) 717 Total derivatives liabilities $ 41,021 $ (26,095) $ 14,926

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The following table sets forth the Company’s property, plant and equipment: March 31, 2024 December 31, 2023 (In thousands) Proved oil and gas properties $ 6,476,984 $ 6,220,766 Less: Accumulated depletion (1,198,211) (1,035,393) Proved oil and gas properties, net 5,278,773 5,185,373 Unproved oil and gas properties 98,322 99,477 Other property and equipment 49,087 49,051 Less: Accumulated depreciation (20,073) (19,223) Other property and equipment, net 29,014 29,828 Total property, plant and equipment, net $ 5,406,109 $ 5,314,678

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions 2024 Acquisition On February 21, 2024, the Company entered into the Arrangement Agreement, pursuant to which, among other things, the Company has agreed to acquire Enerplus in a stock-and-cash transaction (such transaction, the “Arrangement”), subject to satisfaction of certain closing conditions. Under the terms of the Arrangement Agreement, among other things, Enerplus shareholders will receive 0.10125 shares of Chord common stock and $1.84 in cash in exchange for each common share of Enerplus they own at the closing of the Arrangement. The transaction is expected to close in the second quarter of 2024. The Arrangement will be accounted for under the acquisition method of accounting in accordance with FASB ASC 805, Business Combinations . 2023 Acquisition On May 22, 2023, the Company announced that a wholly-owned subsidiary of the Company had entered into a definitive agreement to acquire approximately 62,000 net acres in the Williston Basin from XTO Energy Inc. and affiliates, each a subsidiary of Exxon Mobil Corporation (collectively “XTO”), for total cash consideration of $375.0 million, subject to customary purchase price adjustments (the “2023 Williston Basin Acquisition”). The effective date of the 2023 Williston Basin Acquisition was April 1, 2023. On June 30, 2023, the Company completed the 2023 Williston Basin Acquisition for total cash consideration of $361.6 million, including a deposit of $37.5 million paid to XTO upon execution of the purchase and sale agreement and $324.1 million paid to XTO at closing (including customary purchase price adjustments). The Company funded the 2023 Williston Basin Acquisition with cash on hand. The 2023 Williston Basin Acquisition was accounted for as a business combination and was recorded under the acquisition method of accounting in accordance with ASC 805. The post-acquisition operating results and pro forma revenue and earnings for the 2023 Williston Basin Acquisition were not material to the Company’s condensed consolidated financial statements and have therefore not been presented. Purchase price allocation. The Company recorded the assets acquired and liabilities assumed in the 2023 Williston Basin Acquisition at their estimated fair value on June 30, 2023 of $361.6 million. The allocation of the fair value to the identifiable assets acquired and liabilities assumed resulted in no goodwill or bargain purchase gain being recognized. Determining the fair value of the assets and liabilities of the 2023 Williston Basin Acquisition required judgement and certain assumptions to be made. See Note 5—Fair Value Measurements for additional information. The table below presents the total consideration transferred and its allocation to the identifiable assets acquired and liabilities assumed as of the acquisition date on June 30, 2023. As provided under ASC 805, the purchase price allocation may be subject to change for up to one year after June 30, 2023, which may result in a different allocation than what is presented in the table below. As of December 31, 2023, the purchase price was finalized with an immaterial adjustment to the preliminary purchase price allocation. Purchase Price Consideration (In thousands) Cash consideration transferred $ 361,609 Purchase Price Allocation (In thousands) Assets acquired: Oil and gas properties $ 367,672 Inventory 1,844 Total assets acquired $ 369,516 Liabilities assumed: Asset retirement obligations $ 6,771 Revenue and production taxes payable 1,136 Total liabilities assumed $ 7,907 Net assets acquired $ 361,609

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures 2024 Divestitures Other divestitures. During the three months ended March 31, 2024, the Company completed certain non-operated wellbore divestitures in the Williston Basin for total net cash proceeds of $2.4 million. Subsequently, in April 2024, the Company completed additional non-operated wellbore divestitures in the Williston Basin for total net cash proceeds of $12.2 million. 2023 Divestitures Non-core properties. During the year ended December 31, 2023, the Company entered into separate agreements with multiple buyers to sell a vast majority of its non-core properties located outside of the Williston Basin (the “Non-core Asset Sales”). As of December 31, 2023, the Company completed these Non-core Asset Sales and received total net cash proceeds (including purchase price adjustments) of $39.1 million, subject to customary post-closing adjustments. During the year ended December 31, 2023, the Company recorded a pre-tax net loss on sale of assets of $8.4 million for the Non-core Asset Sales and an impairment loss of $5.6 million to adjust the carrying value of the assets held for sale to their estimated fair value less costs to sell. The impairment loss was recorded within exploration and impairment expenses on the Condensed Consolidated Statements of Operations. Other divestitures. In addition, during the year ended December 31, 2023, the Company completed certain non-operated wellbore divestitures in the Williston Basin for total net cash proceeds of $12.1 million.

Investment in Unconsolidated Af

Investment in Unconsolidated Affiliate	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Affiliate	Investment in Unconsolidated Affiliate As of March 31, 2024 and December 31, 2023, the fair value of the Company’s investment in Energy Transfer was $114.2 million and $100.2 million, respectively. As of March 31, 2024 and December 31, 2023, the Company owned less than 5% of Energy Transfer’s issued and outstanding common units. The carrying amount of the Company’s investment in Energy Transfer is recorded to investment in unconsolidated affiliate on the Condensed Consolidated Balance Sheet. During the three months ended March 31, 2024, the Company recorded a net gain of $16.3 million on its investment in Energy Transfer, comprised of an unrealized gain for the change in fair value of the investment of $14.0 million and a realized gain for cash distributions received of $2.3 million. During the three months ended March 31, 2023, the Company recorded a net loss of $2.2 million on its investment, including an unrealized loss for the change in the fair value of its investment of $5.7 million, partially offset by a realized gain for cash distributions received of $3.0 million.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consists of the following: March 31, 2024 December 31, 2023 (In thousands) Senior secured revolving line of credit $ — $ — Senior unsecured notes 400,000 400,000 Less: unamortized deferred financing costs (3,676) (4,098) Total long-term debt, net $ 396,324 $ 395,902 Senior secured revolving line of credit . The Company has a senior secured revolving credit facility (the “Credit Facility”) with a $2.5 billion borrowing base and $1.0 billion of elected commitments that matures on July 1, 2027. At March 31, 2024 and December 31, 2023, the Company had no borrowings outstanding and $8.9 million of outstanding letters of credit issued under the Credit Facility, resulting in an unused borrowing capacity of $991.1 million. During the three months ended March 31, 2024 and 2023, the Company incurred no borrowings on the Credit Facility, resulting in a weighted average interest rate of 0.00% in each period. The Company was in compliance with the financial covenants under the Credit Facility at March 31, 2024. The fair value of the Credit Facility approximates its carrying value since borrowings under the Credit Facility bear interest at variable rates, which are tied to current market rates. Borrowings are subject to varying rates of interest based on (i) the total outstanding borrowings (including the value of all outstanding letters of credit) in relation to the borrowing base and (ii) whether the loan is a Term SOFR Loan or an ABR Loan (each as defined in the Credit Facility). The Company incurs interest on outstanding loans at their respective interest rate plus a margin rate ranging between 1.75% to 2.75% for Term SOFR Loans and 0.75% to 1.75% for ABR Loans. In addition, Term SOFR Loans are also subject to a 0.1% credit spread adjustment. The unused borrowing base is subject to a commitment fee ranging between 0.375% to 0.500%. The Company is expected to complete the semi-annual borrowing base redetermination in the second quarter of 2024. Senior unsecured notes.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The following table reflects the changes in the Company’s ARO during the three months ended March 31, 2024 (in thousands): Balance at December 31, 2023 $ 165,546 Liabilities incurred during period 973 Liabilities settled during period 1,317 Accretion expense during period 2,913 Balance at March 31, 2024 $ 170,749 Accretion expense is included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. At March 31, 2024, the current portion of the total ARO balance was $15.1 million and is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate was 22.4% of pre-tax income for the three months ended March 31, 2024 as compared to an effective tax rate of 23.6% for the three months ended March 31, 2023.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation The Company has previously granted RSUs, PSUs and LSUs (each as defined below), as well as phantom unit awards under its equity compensation plans. Equity-based compensation expenses are recognized in general and administrative expenses on the Company’s Condensed Consolidated Statements of Operations. During the three months ended March 31, 2024 and 2023, the Company recognized $4.8 million and $11.9 million, respectively, in equity-based compensation expenses related to equity-classified awards. Equity-based compensation costs related to liability-classified awards were not material for the three months ended March 31, 2024 or 2023. Restricted stock units. Restricted stock units (“RSUs”) are contingent shares that generally vest on either a cliff or graded basis over a one-year, three-year or four-year period (as applicable) and are subject to a service condition. During the three months ended March 31, 2024, the Company granted 120,071 RSUs to employees of the Company with a weighted average grant date value of $163.48 per share. Performance share units. Performance share units (“PSUs”) that were granted prior to 2024 are contingent shares that vest on a graded basis over a three-year and four-year period and are subject to a service condition. 2024 Performance share units. During the three months ended March 31, 2024, the Company issued PSUs that include (i) total stockholder return (“TSR”) PSUs (“Absolute TSR PSUs”) and (ii) relative TSR PSUs (“Relative TSR PSUs” and collectively with the Absolute TSR PSUs, the “2024 PSUs”), which are eligible to vest and become earned at the end of the applicable performance period on December 31, 2026, subject to the level of achievement with respect to certain performance goals. The Absolute TSR PSUs are subject to time-based service requirements and market conditions based on the TSR achieved by the Company during the performance period. Depending on the Company’s TSR, award recipients may earn between 0% and 300% of the target number of Absolute TSR PSUs originally granted. The Relative TSR PSUs are subject to time-based service requirements and market conditions based on a comparison of the TSR achieved by the Company against the TSR achieved by the members of a defined peer group at the end of the performance period. Depending on the Company’s TSR performance relative to the TSR performance of the members of the defined peer group, award recipients may earn between 0% and 200% of the target number of Relative TSR PSUs originally granted. Any earned 2024 PSUs will be settled in shares of the Company’s common stock for up to 100% of the target number of PSUs subject to each applicable award, with any remaining earned PSUs that exceed the target number of PSUs subject to the award being settled in cash based on the fair market value of a share of the Company’s common stock on the applicable payment date. The 2024 PSUs are bifurcated and classified as equity-based and liability-based awards based on the probability of achieving various target performance thresholds. During the three months ended March 31, 2024, the Company granted (i) 14,677 Absolute TSR PSUs to employees of the Company with a weighted average grant date value of $233.19 per share and (ii) 44,033 Relative TSR PSUs to employees of the Company with a weighted average grant date value of $198.73 per share. Fair value assumptions. The aggregate grant date fair value of the 2024 PSUs was determined by a third-party valuation specialist using a Monte Carlo simulation model which uses a probabilistic approach for estimating the fair value of the awards. The key valuation inputs were: (i) the forecast period, (ii) risk-free interest rate, (iii) the yield curve associated with the Company’s credit rating, (iv) implied equity volatility, (v) stock price on the date of grant and, solely for Relative TSR PSUs, (vi) correlation coefficient. The risk-free interest rates are the U.S. Treasury bond rates on the date of grant that correspond to the performance period. Implied equity volatility is derived by solving for an asset volatility and equity volatility based on the leverage of the Company and each of its peers. For the Relative TSR PSUs, the correlation coefficient measures the strength of the linear relationship between and amongst the Company and its peers based on historical stock price data. The following table summarizes the assumptions used in the Monte Carlo simulation model to determine the grant date fair value and associated equity-based compensation expenses by grant date for the 2024 PSUs: Absolute TSR Relative TSR Grant date February 20, 2024 March 4, 2024 February 20, 2024 March 4, 2024 Forecast period (years) 3 3 3 3 Risk-free interest rates 4.4% 4.4% 4.4% 4.4% Implied equity volatility 35% 35% 35% 35% Stock price on date of grant $163.75 $160.23 $163.75 $160.23 Leveraged stock units. Leveraged stock units (“LSUs”) are contingent shares granted to certain employees that cliff vest over a three-year and four-year period and are subject to a service condition. No LSUs were granted during the three months ended March 31, 2024. Phantom unit awards. Phantom unit awards represent the right to receive a cash payment equal to the fair market value of one share of common stock upon vesting and vest on a graded basis over a three-year period and are subject to a service condition. During the three months ended March 31, 2024, the Company granted 10,531 phantom unit awards to employees with a weighted average grant date fair value of $163.75 per share.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Dividends The following table summarizes the Company’s fixed and variable dividends declared for the three months ended March 31, 2024 and 2023: Rate per Share Base Variable Total Total Dividends Declared (In thousands) Q1 2024 $ 1.25 $ 2.00 $ 3.25 $ 137,541 Q1 2023 1.25 3.55 4.80 204,884 Total dividends declared in the table above includes $2.5 million and $5.1 million associated with dividend equivalent rights on unvested equity-based compensation awards for the three months ended March 31, 2024 and 2023, respectively. On May 7, 2024, the Company declared a base-plus-variable cash dividend of $2.94 per share of common stock. The dividend will be payable on June 5, 2024 to shareholders of record as of May 22, 2024. Share Repurchase Program During the three months ended March 31, 2024, the Company repurchased 193,269 shares of common stock at a weighted average price of $155.20 per common share for a total cost of $30.0 million. As of March 31, 2024, there was $653.0 million of capacity remaining under the Company’s $750.0 million share repurchase program. During the three months ended March 31, 2023, the Company repurchased 110,667 shares of common stock at a weighted average price of $135.55 per common share for a total cost of $15.0 million. Warrants As of March 31, 2024, the Company had 2,812,498 warrants outstanding, comprised of (i) 494,352 warrants with an exercise price of $75.57 per share that expire on November 19, 2024, (ii) 1,102,262 warrants with an exercise price of $116.37 per share that expire on September 1, 2024 and (iii) 1,215,884 warrants with an exercise price of $133.70 per share that expire on September 1, 2025.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company calculates earnings per share under the two-class method. The Company has granted RSUs to non-employee directors which include non-forfeitable rights to dividends and are therefore considered “participating securities.” Accordingly, the Company computes earnings per share under the two-class earnings allocation method, which computes earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Basic earnings per share amounts have been computed as (i) net income (loss) (ii) less distributed and undistributed earnings allocated to participating securities (iii) divided by the weighted average number of basic shares outstanding for the periods presented. Diluted earnings per share amounts have been computed as (i) basic net income attributable to common stockholders (ii) plus the reallocation of distributed and undistributed earnings allocated to participating securities (iii) divided by the weighted average number of diluted shares outstanding for the periods presented. The Company calculates diluted earnings per share under both the two-class method and treasury stock method and reports the more dilutive of the two calculations. The following table summarizes the basic and diluted earnings per share for the periods presented: Three Months Ended March 31, 2024 2023 (In thousands, except per share data) Net income $ 199,353 $ 296,999 Distributed and undistributed earnings allocated to participating securities (787) (682) Net income attributable to common stockholders (basic) 198,566 296,317 Reallocation of distributed and undistributed earnings allocated to participating securities 7 8 Net income attributable to common stockholders (diluted) $ 198,573 $ 296,325 Weighted average common shares outstanding: Basic weighted average common shares outstanding 41,468 41,568 Dilutive effect of share-based awards 500 902 Dilutive effect of warrants 779 679 Diluted weighted average common shares outstanding 42,747 43,149 Basic earnings per share $ 4.79 $ 7.13 Diluted earnings per share $ 4.65 $ 6.87 Anti-dilutive weighted average common shares: Potential common shares 2,238 4,561 For the three months ended March 31, 2024 and 2023, the diluted earnings per share calculation excludes the impact of unvested share-based awards and outstanding warrants that were anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of March 31, 2024, the Company’s material off-balance sheet arrangements and transactions include $8.9 million in outstanding letters of credit under the Credit Facility and $31.6 million in net surety bond exposure issued as financial assurance on certain agreements.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases In the first quarter of 2023, the Company began negotiations to sublease a portion of its Denver corporate office. As a result of an offer received and the overall market conditions, the Company recorded a right-of-use (“ROU”) asset impairment charge of $17.5 million during the three months ended March 31, 2023. This asset impairment charge primarily consisted of $12.1 million related to the amount by which the carrying value of the ROU asset exceeded the fair value and $5.5 million related to the remaining leasehold improvements. The Company estimated the fair value of the ROU asset using an income approach based on the net present value of the expected sublease rental income during the sublease term. The ROU asset impairment charge is recorded within exploration and impairment on the Condensed Consolidated Statements of Operations. There were no lease impairment charges recorded during the three months ended March 31, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 199,353	$ 296,999

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the Condensed Consolidated Balance Sheet at December 31, 2023 is derived from audited financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for the fair statement of the Company’s financial position, have been included. Management has made certain estimates and assumptions that affect reported amounts in the unaudited condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results.
Risks and Uncertainties	Risks and Uncertainties As a producer of crude oil, NGLs and natural gas, the Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for crude oil, NGLs and natural gas, which are dependent upon numerous factors beyond its control such as economic, geopolitical, political and regulatory developments and competition from other energy sources. The energy markets have historically been very volatile, and there can be no assurance that the prices for crude oil, NGLs or natural gas will not be subject to wide fluctuations in the future. A substantial or extended decline in prices for crude oil and, to a lesser extent, NGLs and natural gas, could have a material adverse effect on the Company’s financial position, results of operations, cash flows, the quantities of crude oil, NGL and natural gas reserves that may be economically produced and the Company’s access to capital.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). This standard clarifies that single reportable segment entities are subject to the disclosure requirements under Topic 280 in its entirety. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years beginning after December 15, 2024. The Company is currently evaluating this ASU to determine its impact on the Company’s annual financial statement disclosures. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” to expand the disclosure requirements for income taxes, specifically relating to the effective tax rate reconciliation and additional disclosures on income taxes paid. The Company expects to adopt this ASU effective January 1, 2025, and the adoption is not expected to affect the Company’s financial position or results of operations, but will result in additional disclosures. In March 2024, the SEC released its final rule on climate-related disclosures, requiring the disclosure of certain climate-related risks, management and governance practices, and financial impacts, as well as greenhouse gas emissions. Large accelerated filers will be required to incorporate the applicable climate-related disclosures into their filings for annual reporting periods beginning in fiscal year 2025, with additional requirements relating to greenhouse gas emissions effective for annual reporting periods beginning in fiscal year 2026. In April 2024, the SEC paused implementation of the final rule pending the resolution of consolidated legal challenges that are currently proceeding before the U.S. Court of Appeals for the Eighth Circuit. The Company is currently evaluating the impact of this rule on its financial statements and related disclosures.
Performance Obligations	The Company records revenue when the performance obligations under the terms of its customer contracts are satisfied. For sales of commodities, the Company records revenue in the month the production or purchased product is delivered to the purchaser. However, settlement statements and payments are typically not received for 20 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production that was delivered to the purchaser and the price that will be received for the sale of the product. The Company uses knowledge of its properties, its properties’ historical performance, spot market prices and other factors as the basis for these estimates. The Company records the differences between estimates and the actual amounts received for product sales once payment is received from the purchaser. In certain cases, the Company is required to estimate these volumes during a reporting period and record any differences between the estimated volumes and actual volumes in the following reporting period. Differences between estimated and actual revenues have historically not been significant. For the three months ended March 31, 2024 and 2023, revenue recognized related to performance obligations satisfied in prior reporting periods was not material.
Fair value Measurement	Financial Assets and Liabilities Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The fair value of the Company’s non-financial assets and liabilities measured on a non-recurring basis are determined using valuation techniques that include Level 3 inputs. Asset retirement obligations. The initial measurement of ARO at fair value is recorded in the period in which the liability is incurred. Fair value is determined by calculating the present value of estimated future cash flows related to the liability. Estimating the future ARO requires management to make estimates and judgments regarding the timing and existence of a liability, as well as what constitutes adequate restoration when considering current regulatory requirements. Inherent in the fair value calculation are numerous assumptions and judgments, including the ultimate costs, inflation factors, credit-adjusted discount rates, timing of settlement and changes in the legal, environmental and regulatory environments. Oil and gas and other properties.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenues from contracts with customers were as follows for the periods presented: Three Months Ended March 31, 2024 2023 (In thousands) Crude oil revenues $ 678,851 $ 650,908 Purchased crude oil sales 326,647 109,265 NGL and natural gas revenues 69,311 115,292 Purchased NGL and natural gas sales 10,451 21,052 Total revenues $ 1,085,260 $ 896,517

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table sets forth the Company’s inventory balances for the periods presented: March 31, 2024 December 31, 2023 (In thousands) Inventory Equipment and materials $ 34,535 $ 30,201 Crude oil inventory 43,583 42,364 Total inventory 78,118 72,565 Long-term inventory Linefill in third-party pipelines 28,360 22,936 Total long-term inventory 28,360 22,936 Total $ 106,478 $ 95,501
Schedule of Long-Term Inventory	The following table sets forth the Company’s inventory balances for the periods presented: March 31, 2024 December 31, 2023 (In thousands) Inventory Equipment and materials $ 34,535 $ 30,201 Crude oil inventory 43,583 42,364 Total inventory 78,118 72,565 Long-term inventory Linefill in third-party pipelines 28,360 22,936 Total long-term inventory 28,360 22,936 Total $ 106,478 $ 95,501

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Balance Sheet Amounts	The following table sets forth certain balance sheet amounts comprised of the following: March 31, 2024 December 31, 2023 (In thousands) Accounts receivable, net Trade and other accounts $ 795,285 $ 749,356 Joint interest accounts 198,930 207,571 Total accounts receivable 994,215 956,927 Less: allowance for credit losses (12,153) (13,813) Total accounts receivable, net $ 982,062 $ 943,114 Revenues and production taxes payable Royalties payable $ 287,704 $ 297,531 Revenue suspense 262,372 266,704 Production taxes payable 42,812 40,469 Total revenue and production taxes payable $ 592,888 $ 604,704 Accrued liabilities Accrued oil and gas marketing $ 212,700 $ 165,141 Accrued capital costs 147,572 122,260 Accrued lease operating expenses 109,446 107,606 Accrued general and administrative expenses 19,592 37,882 Current portion of asset retirement obligations 15,053 10,507 Accrued dividends 17,573 25,167 Other accrued liabilities 23,884 24,818 Total accrued liabilities $ 545,820 $ 493,381

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables set forth by level, within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Fair value at March 31, 2024 Level 1 Level 2 Level 3 Total (In thousands) Assets: Commodity derivative contracts (see Note 6) $ — $ 44 $ 2,647 $ 2,691 Contingent consideration (see Note 6) — 46,080 — 46,080 Investment in unconsolidated affiliate (see Note 10) 114,181 — — 114,181 Total assets $ 114,181 $ 46,124 $ 2,647 $ 162,952 Liabilities: Commodity derivative contracts (see Note 6) $ — $ 22,545 $ — $ 22,545 Total liabilities $ — $ 22,545 $ — $ 22,545 Fair value at December 31, 2023 Level 1 Level 2 Level 3 Total (In thousands) Assets: Commodity derivative contracts (see Note 6) $ — $ 11,312 $ 5,877 $ 17,189 Contingent consideration (see Note 6) — 42,706 — 42,706 Investment in unconsolidated affiliate (see Note 10) 100,172 — — 100,172 Total assets $ 100,172 $ 54,018 $ 5,877 $ 160,067 Liabilities: Commodity derivative contracts (see Note 6) $ — $ 14,926 $ — $ 14,926 Total liabilities $ — $ 14,926 $ — $ 14,926

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Commodity Derivative Instruments	At March 31, 2024, the Company had the following outstanding commodity derivative contracts: Commodity Settlement Derivative Volumes Weighted Average Prices Fixed-Price Swaps Sub-Floor Floor Ceiling Crude oil 2024 Two-way collars 4,395,000 Bbls $ 65.30 $ 82.62 Crude oil 2024 Three-way collars 736,000 Bbls $ 55.00 $ 71.25 $ 92.14 Crude oil 2024 Fixed-price swaps 639,000 Bbls $ 74.89 Crude oil 2025 Two-way collars 1,181,000 Bbls $ 60.00 $ 79.05 Crude oil 2025 Three-way collars 2,371,000 Bbls $ 52.69 $ 67.69 $ 82.14 Crude oil 2026 Three-way collars 270,000 Bbls $ 50.00 $ 65.00 $ 83.70 Natural gas 2025 Fixed-price swaps 651,600 MMBtu $ 3.93 Subsequent to March 31, 2024, the Company entered into the following commodity derivative contracts: Weighted Average Prices Commodity Settlement Period Derivative Instrument Volumes Fixed-Price Swaps Floor Ceiling Crude oil 2024 Two-way collars 736,000 Bbls $ 75.00 $ 88.15 Crude oil 2024 Fixed-price swaps 550,000 Bbls $ 80.01
Schedule of Gains and Losses from Commodity Derivative Instruments	The following table summarizes the location and amounts of gains and losses from the Company’s derivative instruments recorded in the Company’s Condensed Consolidated Statements of Operations for the periods presented: Three Months Ended March 31, Derivative Instrument Statements of Operations Location 2024 2023 (In thousands) Commodity derivatives Net gain (loss) on derivative instruments $ (30,951) $ 65,840 Commodity derivatives (buy/sell transportation contracts) Gathering, processing and transportation expenses (1) (3,229) 11,157 Contingent consideration Net gain (loss) on derivative instruments 3,374 1,094 __________________ (1) The change in the fair value of the transportation derivative contracts was recorded in GPT expenses as a loss for the three months ended March 31, 2024 and as a gain for the three months ended March 31, 2023.
Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments	The following table summarizes the location and fair value of all outstanding derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets: March 31, 2024 Derivative Instrument Balance Sheet Location Gross Amount Gross Amount Offset Net Amount (In thousands) Derivatives assets: Commodity derivatives Derivative instruments — current assets $ 9,317 $ (9,273) $ 44 Contingent consideration Derivative instruments — current assets 23,849 — 23,849 Commodity derivatives (buy/sell transportation contracts) Derivative instruments — current assets 2,647 — 2,647 Commodity derivatives Derivative instruments — non-current assets 14,485 (14,485) — Contingent consideration Derivative instruments — non-current assets 22,231 — 22,231 Total derivatives assets $ 72,529 $ (23,758) $ 48,771 Derivatives liabilities: Commodity derivatives Derivative instruments — current liabilities $ 28,796 $ (9,273) $ 19,523 Commodity derivatives Derivative instruments — non-current liabilities 17,507 (14,485) 3,022 Total derivatives liabilities $ 46,303 $ (23,758) $ 22,545 December 31, 2023 Derivative Instrument Balance Sheet Location Gross Amount Gross Amount Offset Net Amount (In thousands) Derivatives assets: Commodity derivatives Derivative instruments — current assets $ 20,647 $ (11,769) $ 8,878 Contingent consideration Derivative instruments — current assets 22,614 — 22,614 Commodity derivatives (buy/sell transportation contracts) Derivative instruments — current assets 5,877 — 5,877 Commodity contracts Derivative instruments — non-current assets 16,760 (14,326) 2,434 Contingent consideration Derivative instruments — non-current assets 20,092 — 20,092 Total derivatives assets $ 85,990 $ (26,095) $ 59,895 Derivatives liabilities: Commodity derivatives Derivative instruments — current liabilities $ 25,978 $ (11,769) $ 14,209 Commodity derivatives Derivative instruments — non-current liabilities 15,043 (14,326) 717 Total derivatives liabilities $ 41,021 $ (26,095) $ 14,926

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following table sets forth the Company’s property, plant and equipment: March 31, 2024 December 31, 2023 (In thousands) Proved oil and gas properties $ 6,476,984 $ 6,220,766 Less: Accumulated depletion (1,198,211) (1,035,393) Proved oil and gas properties, net 5,278,773 5,185,373 Unproved oil and gas properties 98,322 99,477 Other property and equipment 49,087 49,051 Less: Accumulated depreciation (20,073) (19,223) Other property and equipment, net 29,014 29,828 Total property, plant and equipment, net $ 5,406,109 $ 5,314,678

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Price Allocation	The table below presents the total consideration transferred and its allocation to the identifiable assets acquired and liabilities assumed as of the acquisition date on June 30, 2023. As provided under ASC 805, the purchase price allocation may be subject to change for up to one year after June 30, 2023, which may result in a different allocation than what is presented in the table below. As of December 31, 2023, the purchase price was finalized with an immaterial adjustment to the preliminary purchase price allocation. Purchase Price Consideration (In thousands) Cash consideration transferred $ 361,609 Purchase Price Allocation (In thousands) Assets acquired: Oil and gas properties $ 367,672 Inventory 1,844 Total assets acquired $ 369,516 Liabilities assumed: Asset retirement obligations $ 6,771 Revenue and production taxes payable 1,136 Total liabilities assumed $ 7,907 Net assets acquired $ 361,609

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt consists of the following: March 31, 2024 December 31, 2023 (In thousands) Senior secured revolving line of credit $ — $ — Senior unsecured notes 400,000 400,000 Less: unamortized deferred financing costs (3,676) (4,098) Total long-term debt, net $ 396,324 $ 395,902

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes in Asset Retirement Obligations	The following table reflects the changes in the Company’s ARO during the three months ended March 31, 2024 (in thousands): Balance at December 31, 2023 $ 165,546 Liabilities incurred during period 973 Liabilities settled during period 1,317 Accretion expense during period 2,913 Balance at March 31, 2024 $ 170,749

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Based Compensation Assumptions	The following table summarizes the assumptions used in the Monte Carlo simulation model to determine the grant date fair value and associated equity-based compensation expenses by grant date for the 2024 PSUs: Absolute TSR Relative TSR Grant date February 20, 2024 March 4, 2024 February 20, 2024 March 4, 2024 Forecast period (years) 3 3 3 3 Risk-free interest rates 4.4% 4.4% 4.4% 4.4% Implied equity volatility 35% 35% 35% 35% Stock price on date of grant $163.75 $160.23 $163.75 $160.23

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Dividends Payable	The following table summarizes the Company’s fixed and variable dividends declared for the three months ended March 31, 2024 and 2023: Rate per Share Base Variable Total Total Dividends Declared (In thousands) Q1 2024 $ 1.25 $ 2.00 $ 3.25 $ 137,541 Q1 2023 1.25 3.55 4.80 204,884

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Weighted-Average Number of Shares Outstanding	The following table summarizes the basic and diluted earnings per share for the periods presented: Three Months Ended March 31, 2024 2023 (In thousands, except per share data) Net income $ 199,353 $ 296,999 Distributed and undistributed earnings allocated to participating securities (787) (682) Net income attributable to common stockholders (basic) 198,566 296,317 Reallocation of distributed and undistributed earnings allocated to participating securities 7 8 Net income attributable to common stockholders (diluted) $ 198,573 $ 296,325 Weighted average common shares outstanding: Basic weighted average common shares outstanding 41,468 41,568 Dilutive effect of share-based awards 500 902 Dilutive effect of warrants 779 679 Diluted weighted average common shares outstanding 42,747 43,149 Basic earnings per share $ 4.79 $ 7.13 Diluted earnings per share $ 4.65 $ 6.87 Anti-dilutive weighted average common shares: Potential common shares 2,238 4,561

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Narrative (Details) - Enerplus Corporation	Feb. 21, 2024 $ / shares
Business Acquisition [Line Items]
Conversion ratio	0.10125
Cash paid per share (in dollars per share)	$ 1.84

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,085,260	$ 896,517
Crude oil revenues
Disaggregation of Revenue [Line Items]
Total revenues	678,851	650,908
Purchased crude oil sales
Disaggregation of Revenue [Line Items]
Total revenues	326,647	109,265
NGL and natural gas revenues
Disaggregation of Revenue [Line Items]
Total revenues	69,311	115,292
Purchased NGL and natural gas sales
Disaggregation of Revenue [Line Items]
Total revenues	$ 10,451	$ 21,052

Inventory - Components of Inven

Inventory - Components of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory
Equipment and materials	$ 34,535	$ 30,201
Crude oil inventory	43,583	42,364
Total inventory	78,118	72,565
Long-term inventory
Linefill in third-party pipelines	28,360	22,936
Total long-term inventory	28,360	22,936
Total	$ 106,478	$ 95,501

Additional Balance Sheet Info_3

Additional Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 994,215	$ 956,927
Less: allowance for credit losses	(12,153)	(13,813)
Total accounts receivable, net	982,062	943,114
Royalties payable	287,704	297,531
Revenue suspense	262,372	266,704
Production taxes payable	42,812	40,469
Total revenue and production taxes payable	592,888	604,704
Accrued oil and gas marketing	212,700	165,141
Accrued capital costs	147,572	122,260
Accrued lease operating expenses	109,446	107,606
Accrued general and administrative expenses	19,592	37,882
Current portion of asset retirement obligations	15,053	10,507
Accrued dividends	17,573	25,167
Other accrued liabilities	23,884	24,818
Total accrued liabilities	545,820	493,381
Trade and other accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	795,285	749,356
Joint interest accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 198,930	$ 207,571

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 162,952	$ 160,067
Total liabilities	22,545	14,926
Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2,691	17,189
Total liabilities	22,545	14,926
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	46,080	42,706
Investment in unconsolidated affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	114,181	100,172
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	114,181	100,172
Total liabilities	0	0
Level 1 | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0	0
Level 1 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 1 | Investment in unconsolidated affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	114,181	100,172
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	46,124	54,018
Total liabilities	22,545	14,926
Level 2 | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	44	11,312
Total liabilities	22,545	14,926
Level 2 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	46,080	42,706
Level 2 | Investment in unconsolidated affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2,647	5,877
Total liabilities	0	0
Level 3 | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2,647	5,877
Total liabilities	0	0
Level 3 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 3 | Investment in unconsolidated affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Jan. 31, 2024 USD ($)	Mar. 31, 2024 USD ($) $ / bbl	Mar. 31, 2023 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2021 payment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net derivative liability		$ 0.3				$ 0.5
Proceeds from divestiture		$ 25	$ 0
Divestitures | Primary Permian Basin Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of earn-out payments | payment							3
Proceeds from divestiture	$ 25					$ 25
Contingent consideration, minimum average daily settlement price, requiring additional payment (in dollars per barrel) | $ / bbl		60
Contingent consideration, minimum average daily settlement price, terminating agreement (in dollars per barrel) | $ / bbl		45
Anticipated | Divestitures | Primary Permian Basin Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture				$ 25	$ 25

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Outstanding Commodity Derivative Instruments (Details)	1 Months Ended	3 Months Ended
	May 09, 2024 $ / bbl bbl	Mar. 31, 2024 MMBTU $ / bbl $ / gal bbl
Crude oil | 2024 Two-way collar | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		4,395,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		65.30
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		82.62
Crude oil | 2024 Two-way collar | NYMEX WTI | Subsequent Event
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl	736,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)	75
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)	88.15
Crude oil | 2024 Three-way collars | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		736,000
Weighted Average Prices, Sub-Floor (in usd per bbl)		55
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		71.25
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		92.14
Crude oil | 2024 Fixed price swaps | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		639,000
Weighted Average Prices (in dollars per barrel / dollars per btu / dollars per gallon)		74.89
Crude oil | 2024 Fixed price swaps | NYMEX WTI | Subsequent Event
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl	550,000
Weighted Average Prices (in dollars per barrel / dollars per btu / dollars per gallon)	80.01
Crude oil | 2025 Two-way collar | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		1,181,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		60
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		79.05
Crude oil | 2025 Three-way collar | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		2,371,000
Weighted Average Prices, Sub-Floor (in usd per bbl)		52.69
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		67.69
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		82.14
Crude oil | 2026 Three-way collar | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		270,000
Weighted Average Prices, Sub-Floor (in usd per bbl)		50
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		65
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		83.70
Natural gas | 2025 Fixed price swaps | NYMEX HH
Derivative [Line Items]
Volumes (in MMBtu) | MMBTU		651,600
Weighted Average Prices (in dollars per barrel / dollars per btu / dollars per gallon) | $ / gal		3.93

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) instrument	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of contracts expired | instrument	1
Derivative assets, gross amount	$ 72,529	$ 85,990
Derivative liabilities, gross amount	46,303	41,021
Divestitures | Primary Permian Basin Sale
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contingent consideration	46,100	42,700
Derivative instruments — current liabilities | Divestitures | Primary Permian Basin Sale
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contingent consideration	23,800	22,600
Derivative instruments — non-current liabilities | Divestitures | Primary Permian Basin Sale
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contingent consideration	22,200	20,100
Commodity derivatives (buy/sell transportation contracts)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets, gross amount	2,647	5,877
Commodity derivatives (buy/sell transportation contracts) | Derivative instruments — current liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets, gross amount	$ 2,600	$ 5,900

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gains and Losses from Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative [Line Items]
Net gain (loss) on derivative instruments	$ (27,577)	$ 66,934
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Gain on sale of assets, net	Gain on sale of assets, net
Contingent consideration
Derivative [Line Items]
Net gain (loss) on derivative instruments	$ 3,374	$ 1,094
Commodity derivatives
Derivative [Line Items]
Net gain (loss) on derivative instruments	(30,951)	65,840
Commodity derivatives (buy/sell transportation contracts)
Derivative [Line Items]
Net gain (loss) on derivative instruments	$ (3,229)	$ 11,157

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	$ 72,529	$ 85,990
Derivative liabilities, gross amount	46,303	41,021
Derivative assets, gross amounts offset	(23,758)	(26,095)
Derivative liabilities, gross amounts offset	(23,758)	(26,095)
Derivative assets, net amount	48,771	59,895
Derivative liabilities, net amount	22,545	14,926
Commodity derivatives | Derivative instruments — current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	9,317	20,647
Derivative assets, gross amounts offset	(9,273)	(11,769)
Derivative assets, net amount	44	8,878
Commodity derivatives | Derivative instruments — non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	14,485	16,760
Derivative assets, gross amounts offset	(14,485)	(14,326)
Derivative assets, net amount	0	2,434
Commodity derivatives | Derivative instruments — current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, gross amount	28,796	25,978
Derivative liabilities, gross amounts offset	(9,273)	(11,769)
Derivative liabilities, net amount	19,523	14,209
Commodity derivatives | Derivative instruments — non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, gross amount	17,507	15,043
Derivative liabilities, gross amounts offset	(14,485)	(14,326)
Derivative liabilities, net amount	3,022	717
Contingent consideration | Derivative instruments — current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	23,849	22,614
Derivative assets, gross amounts offset	0	0
Derivative assets, net amount	23,849	22,614
Contingent consideration | Derivative instruments — non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	22,231	20,092
Derivative assets, gross amounts offset	0	0
Derivative assets, net amount	22,231	20,092
Commodity derivatives (buy/sell transportation contracts)
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	2,647	5,877
Derivative assets, gross amounts offset	0	0
Derivative assets, net amount	2,647	5,877
Commodity derivatives (buy/sell transportation contracts) | Derivative instruments — current liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	$ 2,600	$ 5,900

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Proved oil and gas properties	$ 6,476,984	$ 6,220,766
Less: Accumulated depletion	(1,198,211)	(1,035,393)
Proved oil and gas properties, net	5,278,773	5,185,373
Unproved oil and gas properties	98,322	99,477
Other property and equipment	49,087	49,051
Less: Accumulated depreciation	(20,073)	(19,223)
Other property and equipment, net	29,014	29,828
Total property, plant and equipment, net	$ 5,406,109	$ 5,314,678

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ / shares in Units, a in Thousands	Feb. 21, 2024 $ / shares	Jun. 30, 2023 USD ($)	May 22, 2023 USD ($) a
Williston Basin
Business Acquisition [Line Items]
Cash consideration			$ 375,000,000
Enerplus Corporation
Business Acquisition [Line Items]
Conversion ratio	0.10125
Cash paid per share (in dollars per share) | $ / shares	$ 1.84
Williston Basin
Business Acquisition [Line Items]
Area of land | a			62
Cash paid		$ 361,609,000
Security deposit		37,500,000
Payments for asset acquisitions		324,100,000
Estimated fair value		361,600,000
Goodwill		0
Bargain purchase gain		$ 0

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price Allocation (Details) - Williston Basin $ in Thousands	Jun. 30, 2023 USD ($)
Business Combination Segment Allocation [Line Items]
Cash consideration transferred	$ 361,609
Assets acquired:
Oil and gas properties	367,672
Inventory	1,844
Total assets acquired	369,516
Liabilities assumed:
Asset retirement obligations	6,771
Revenue and production taxes payable	1,136
Total liabilities assumed	7,907
Net assets acquired	$ 361,609

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Divestitures | Non-Operated Wellbore Properties, Williston Basin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds received		$ 2.4	$ 12.1
Divestitures | Non-Operated Wellbore Properties, Williston Basin | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds received	$ 12.2
Divestitures | Non-Core Properties, Williston Basin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Estimated net cash proceeds			39.1
Pre-tax net loss on sale			8.4
Discontinued Operations, Held-for-Sale | Williston Basin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss			$ 5.6

Investment in Unconsolidated _2

Investment in Unconsolidated Affiliate (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated affiliate, fair value	$ 114,181		$ 100,172
Net gain (loss) from investment in unconsolidated affiliate	16,296	$ (2,216)
OMP Merger
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated affiliate, fair value	114,200		$ 100,200
Unconsolidated affiliate, unrealized gain (loss)	14,000	(5,700)
Unconsolidated affiliate, realized gain	$ 2,300	$ 3,000
OMP Merger | Crestwood Equity Partners LP
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired	5%		5%

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total long-term debt, net	$ 396,324	$ 395,902
Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	400,000	400,000
Less: unamortized deferred financing costs	$ (3,676)	$ (4,098)

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 0		$ 0
Line of credit facility, remaining borrowing capacity	991,100
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000		400,000
Stated interest rate (as a percent)	6.375%
Senior Notes | Level 1
Debt Instrument [Line Items]
Long-term debt, fair value	$ 401,700		400,000
Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	0%	0%
Credit Facility | Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing base	$ 2,500,000
Long-term debt, gross	0		$ 0
Letters of credit outstanding	8,900
Credit Facility | Elected Commitments
Debt Instrument [Line Items]
Credit facility borrowing base	$ 1,000,000
Amended and Restated Credit Facility | Credit Facility | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate (as a percent)	0.10%
Amended and Restated Credit Facility | Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
Amended and Restated Credit Facility | Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate (as a percent)	1.75%
Amended and Restated Credit Facility | Credit Facility | Minimum | Alternative Base Rate (ABR)
Debt Instrument [Line Items]
Spread on variable rate (as a percent)	0.75%
Amended and Restated Credit Facility | Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
Amended and Restated Credit Facility | Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate (as a percent)	2.75%
Amended and Restated Credit Facility | Credit Facility | Maximum | Alternative Base Rate (ABR)
Debt Instrument [Line Items]
Spread on variable rate (as a percent)	1.75%

Asset Retirement Obligations -

Asset Retirement Obligations - Schedule of Changes in Asset Retirement Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of period	$ 165,546
Liabilities incurred during period	973
Liabilities settled during period	1,317
Accretion expense during period	2,913
Balance at end of period	$ 170,749

Asset Retirement Obligations _2

Asset Retirement Obligations - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]
Current portion of asset retirement obligations	$ 15,053	$ 10,507

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	22.40%	23.60%

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Equity-Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4.8	$ 11.9
Liability-Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	120,071
Weighted average grant date fair value (in dollars per share)	$ 163.48
Restricted Stock Units (RSUs) | Vesting period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock Units (RSUs) | Vesting period two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) | Vesting period three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Performance Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Absolute TSR PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares granted (in shares)	14,677
Weighted average grant date value (in dollars per share)	$ 233.19
Absolute TSR PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted percentage of earnings (as a percent)	0%
Absolute TSR PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted percentage of earnings (as a percent)	300%
Relative TSR PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted percentage of earnings (as a percent)	100%
Additional shares granted (in shares)	44,033
Weighted average grant date value (in dollars per share)	$ 198.73
Relative TSR PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted percentage of earnings (as a percent)	0%
Relative TSR PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted percentage of earnings (as a percent)	200%
Leverage Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Awards granted (in shares)	0	0
Leverage Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Leverage Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Phantom Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	10,531
Weighted average grant date fair value (in dollars per share)	$ 163.75
Number of shares for cash payment value (in shares)	1

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Assumptions (Details) - $ / shares	Mar. 04, 2024	Feb. 20, 2024
Absolute TSR PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forecast period (years)	3 years	3 years
Risk-free interest rates	4.40%	4.40%
Implied equity volatility	35%	35%
Stock price on date of grant (in dollars per share)	$ 160.23	$ 163.75
Relative TSR PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forecast period (years)	3 years	3 years
Risk-free interest rates	4.40%	4.40%
Implied equity volatility	35%	35%
Stock price on date of grant (in dollars per share)	$ 160.23	$ 163.75

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Payable (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 3.25	$ 4.80
Dividends payable	$ 137,541	$ 204,884
Base
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 1.25	$ 1.25
Variable
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 2	$ 3.55

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	May 07, 2024	Mar. 31, 2024	Mar. 31, 2023
Equity, Class of Treasury Stock [Line Items]
Dividends declared (in dollars per share)		$ 3.25	$ 4.80
Repurchase of common stock (in shares)		193,269	110,667
Repurchase of common stock, average cost (in dollars per share)		$ 155.20	$ 135.55
Share repurchases, total cost		$ 29,999	$ 15,003
Stock repurchase program, remaining authorized repurchase amount		653,000
Stock repurchase program, authorized amount		$ 750,000
Warrants outstanding (in shares)		2,812,498,000
Warrants exercised (in shares)		420,157	82,954
Warrant Exercise Price One
Equity, Class of Treasury Stock [Line Items]
Warrants outstanding (in shares)		494,352,000
Exercise price (in dollars per share)		$ 75.57
Warrant Exercise Price Two
Equity, Class of Treasury Stock [Line Items]
Warrants outstanding (in shares)		1,102,262,000
Exercise price (in dollars per share)		$ 116.37
Warrant Exercise Price Three
Equity, Class of Treasury Stock [Line Items]
Warrants outstanding (in shares)		1,215,884,000
Exercise price (in dollars per share)		$ 133.70
Dividend Equivalent Rights On Unvested Equity-Based Compensation Awards
Equity, Class of Treasury Stock [Line Items]
Dividends declared associated with dividend equivalent rights on equity-based awards		$ 2,500	$ 5,100
Subsequent Event | Base-Plus-Variable Cash Dividend
Equity, Class of Treasury Stock [Line Items]
Dividends declared (in dollars per share)	$ 2.94

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 199,353	$ 296,999
Distributed and undistributed earnings allocated to participating securities	(787)	(682)
Net income attributable to common stockholders (basic)	198,566	296,317
Reallocation of distributed and undistributed earnings allocated to participating securities	7	8
Net income attributable to common stockholders (diluted)	$ 198,573	$ 296,325
Weighted average common shares outstanding, basic (in shares)	41,468	41,568
Dilutive effect of share-based awards (in shares)	500	902
Dilutive effect of warrants (in shares)	779	679
Weighted average common shares outstanding, diluted (in shares)	42,747	43,149
Basic earnings per share (in dollars per share)	$ 4.79	$ 7.13
Diluted earnings per share (in dollars per share)	$ 4.65	$ 6.87
Anti-dilutive weighted average common shares (in shares)	2,238	4,561

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2024 USD ($)
Surety Bond
Commitments and Contingencies [Line Items]
Off-balance sheet commitments	$ 31.6
Credit Facility | Credit Facility
Commitments and Contingencies [Line Items]
Letters of credit outstanding	$ 8.9

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Asset impairment charge	$ 0	$ 17.5
Right Of Use Asset
Lessee, Lease, Description [Line Items]
Asset impairment charge	12.1
Leasehold Improvements
Lessee, Lease, Description [Line Items]
Asset impairment charge	$ 5.5