Chord Energy (CHRD) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		61,879,575
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001486159
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 197,389	$ 317,998
Accounts receivable, net	1,275,934	943,114
Inventory	79,905	72,565
Prepaid expenses	23,827	42,450
Derivative instruments	25,292	37,369
Other current assets	2,044	11,055
Total current assets	1,604,391	1,424,551
Property, plant and equipment
Oil and gas properties (successful efforts method)	12,137,734	6,320,243
Other property and equipment	57,327	49,051
Less: accumulated depreciation, depletion and amortization	(1,442,011)	(1,054,616)
Total property, plant and equipment, net	10,753,050	5,314,678
Derivative instruments	22,542	22,526
Investment in unconsolidated affiliate	117,738	100,172
Long-term inventory	27,619	22,936
Operating right-of-use assets	58,724	21,343
Goodwill	539,793	0
Other assets	23,481	19,944
Total assets	13,147,338	6,926,150
Current liabilities
Accounts payable	38,189	34,453
Revenues and production taxes payable	772,565	604,704
Accrued liabilities	714,427	493,381
Current portion of long-term debt, net	60,063	0
Accrued interest payable	4,891	2,157
Derivative instruments	13,943	14,209
Advances from joint interest partners	2,473	2,381
Current operating lease liabilities	39,914	13,258
Other current liabilities	31,650	916
Total current liabilities	1,678,115	1,165,459
Long-term debt	971,746	395,902
Deferred tax liabilities	1,345,220	95,322
Asset retirement obligations	275,817	155,040
Derivative instruments	1,428	717
Operating lease liabilities	29,114	18,667
Other liabilities	4,748	18,419
Total liabilities	4,306,188	1,849,526
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value: 240,000,000 shares authorized, 66,572,527 shares issued and 62,231,069 shares outstanding at June 30, 2024; and 120,000,000 shares authorized, 45,032,537 shares issued and 41,249,658 shares outstanding at December 31, 2023	668	456
Treasury stock, at cost: 4,341,458 shares at June 30, 2024 and 3,782,879 shares at December 31, 2023	(585,035)	(493,289)
Additional paid-in capital	7,314,414	3,608,819
Retained earnings	2,111,103	1,960,638
Total stockholders’ equity	8,841,150	5,076,624
Total liabilities and stockholders’ equity	$ 13,147,338	$ 6,926,150

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 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)	240,000,000	120,000,000
Common stock, shares issued (in shares)	66,572,527	45,032,537
Common stock, shares outstanding (in shares)	62,231,069	41,249,658
Treasury stock, shares (in shares)	4,341,458	3,782,879

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Total revenues	$ 1,260,680	$ 912,071	$ 2,345,940	$ 1,808,588
Operating expenses
Lease operating expenses	176,647	158,554	335,853	311,962
Gathering, processing and transportation expenses	63,130	43,397	117,114	80,412
Production taxes	79,522	58,488	143,433	119,005
Depreciation, depletion and amortization	227,928	137,046	396,822	270,837
General and administrative expenses	82,077	42,174	107,789	74,658
Total operating expenses	987,145	662,667	1,800,768	1,234,339
Gain on sale of assets, net	15,486	1,613	16,788	2,840
Operating income	289,021	251,017	561,960	577,089
Other income (expense)
Net gain (loss) on derivative instruments	4,608	29,518	(22,969)	96,452
Net gain from investment in unconsolidated affiliate	5,862	10,126	22,158	7,910
Interest expense, net of capitalized interest	(12,208)	(7,228)	(19,800)	(14,363)
Other income	4,081	2,293	6,907	7,486
Total other income (expense), net	2,343	34,709	(13,704)	97,485
Income before income taxes	291,364	285,726	548,256	674,574
Income tax expense	(78,003)	(69,655)	(135,541)	(161,504)
Net income	$ 213,361	$ 216,071	$ 412,715	$ 513,070
Earnings per share:
Basic (in dollars per share)	$ 4.36	$ 5.19	$ 9.12	$ 12.32
Diluted (in dollars per share)	$ 4.25	$ 4.96	$ 8.87	$ 11.83
Weighted average shares outstanding:
Basic (in shares)	48,665	41,494	45,048	41,531
Diluted (in shares)	49,916	43,386	46,313	43,267
Oil, NGL and gas revenues
Revenues
Total revenues	$ 902,667	$ 695,426	$ 1,650,829	$ 1,461,626
Operating expenses
Exploration and impairment	1,485	6,782	7,639	31,646
Purchased oil and gas sales
Revenues
Total revenues	358,013	216,645	695,111	346,962
Operating expenses
Purchased oil and gas expenses	$ 356,356	$ 216,226	$ 692,118	$ 345,819

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)		(111,000)	111,000
Share repurchases	(15,003)		$ (15,003)
Warrants exercised (in shares)		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, 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]
Share repurchases (in shares)	319,458
Share repurchases	$ (45,800)
Warrants exercised (in shares)	109,402
Ending balance, common stock (in shares) at Jun. 30, 2023		41,390,000
Ending balance at Jun. 30, 2023	$ 4,819,570	$ 441	$ (297,768)	3,500,727	1,616,170
Ending balance, treasury stock (in shares) at Jun. 30, 2023			2,569,000
Beginning balance, common stock (in shares) at Mar. 31, 2023		41,538,000
Beginning balance at Mar. 31, 2023	4,758,740	$ 439	$ (266,953)	3,487,648	1,537,606
Beginning balance, treasury stock (in shares) at Mar. 31, 2023			2,360,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation and vestings (in shares)		64,000
Equity-based compensation and vestings	15,327	$ 2		15,325
Tax withholdings on settlement of equity-based awards (in shares)		(22,000)
Tax withholdings on settlement of equity-based awards	(3,331)			(3,331)
Dividends	(137,507)				(137,507)
Share repurchases (in shares)		(209,000)	209,000
Share repurchases	$ (30,815)		$ (30,815)	0
Warrants exercised (in shares)	26,488	19,000
Warrants exercised	$ 1,085	$ 0		1,085
Net income	216,071				216,071
Ending balance, common stock (in shares) at Jun. 30, 2023		41,390,000
Ending balance at Jun. 30, 2023	$ 4,819,570	$ 441	$ (297,768)	3,500,727	1,616,170
Ending balance, treasury stock (in shares) at Jun. 30, 2023			2,569,000
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)		(193,000)	193,000
Share repurchases	(29,999)		$ (29,999)
Warrants exercised (in shares)		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		41,551,000
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			3,976,000
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]
Share repurchases (in shares)	558,579
Share repurchases	$ (91,700)
Warrants exercised (in shares)	1,070,851
Ending balance, common stock (in shares) at Jun. 30, 2024	62,231,069	62,231,000
Ending balance at Jun. 30, 2024	$ 8,841,150	$ 668	$ (585,035)	7,314,414	2,111,103
Ending balance, treasury stock (in shares) at Jun. 30, 2024	4,341,458		4,341,000
Beginning balance, common stock (in shares) at Mar. 31, 2024		41,551,000
Beginning balance at Mar. 31, 2024	$ 5,075,178	$ 459	$ (523,288)	3,575,557	2,022,450
Beginning balance, treasury stock (in shares) at Mar. 31, 2024			3,976,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued in Arrangement (in shares)		20,680,000
Shares issued in Arrangement	3,732,137	$ 207		3,731,930
Equity-based compensation and vestings (in shares)		139,000
Equity-based compensation and vestings	5,360	$ 1		5,359
Tax withholdings on settlement of equity-based awards (in shares)		(61,000)
Tax withholdings on settlement of equity-based awards	(11,306)			(11,306)
Dividends	(124,708)				(124,708)
Share repurchases (in shares)		(365,000)	365,000
Share repurchases	$ (61,747)		$ (61,747)
Warrants exercised (in shares)	650,695	287,000
Warrants exercised	$ 12,875	$ 1		12,874
Net income	$ 213,361				213,361
Ending balance, common stock (in shares) at Jun. 30, 2024	62,231,069	62,231,000
Ending balance at Jun. 30, 2024	$ 8,841,150	$ 668	$ (585,035)	$ 7,314,414	$ 2,111,103
Ending balance, treasury stock (in shares) at Jun. 30, 2024	4,341,458		4,341,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income		$ 213,361	$ 216,071	$ 412,715	$ 513,070
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization				396,822	270,837
Gain on sale of assets				(16,788)	(2,840)
Impairment				3,919	28,964
Deferred income taxes				70,699	145,857
Net (gain) loss on derivative instruments		(4,608)	(29,518)	22,969	(96,452)
Net gain from investment in unconsolidated affiliate		(5,862)	(10,126)	(22,158)	(7,910)
Equity-based compensation expenses				10,130	27,181
Deferred financing costs amortization and other				7,343	(4,035)
Working capital and other changes:
Change in accounts receivable, net				(69,496)	5,564
Change in inventory				(5,557)	(3,526)
Change in prepaid expenses				17,262	317
Change in accounts payable, interest payable and accrued liabilities				3,065	(11,084)
Change in other assets and liabilities, net				36,649	11,104
Net cash provided by operating activities				867,574	877,047
Cash flows from investing activities:
Capital expenditures				(538,733)	(407,773)
Acquisitions, net of cash acquired				(645,971)	(361,609)
Proceeds from divestitures, net of cash divested				20,876	59,219
Derivative settlements				(16,339)	(154,110)
Contingent consideration received				25,000	0
Distributions from investment in unconsolidated affiliate				4,591	5,984
Net cash used in investing activities				(1,150,576)	(858,289)
Cash flows from financing activities:
Proceeds from revolving credit facilities				825,000	0
Principal payments on revolving credit facilities				(250,000)	0
Repurchases of common stock				(93,745)	(45,818)
Tax withholding on vesting of equity-based awards				(57,357)	(13,631)
Chord dividends paid				(281,681)	(337,747)
Payments on finance lease liabilities				(834)	(933)
Proceeds from warrants exercised				21,010	1,007
Net cash provided by (used in) financing activities				162,393	(397,122)
Decrease in cash and cash equivalents				(120,609)	(378,364)
Cash and cash equivalents:
Beginning of period				317,998	593,151	$ 593,151
End of period		197,389	214,787	197,389	214,787	$ 317,998
Supplemental non-cash transactions
Change in accrued capital expenditures	[1]			24,389	74,114
Change in asset retirement obligations	[1]			3,476	547
Dividends payable	[1]	$ 19,502	$ 35,321	$ 19,502	$ 35,321
[1]Amounts exclude non-cash consideration transferred and balances acquired on May 31, 2024 in respect of the Arrangement. Refer to Note 8—Acquisitions for additional information

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 primarily located 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”). Enerplus Arrangement 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 agreed to acquire Enerplus in a stock-and-cash transaction (such transaction, the “Arrangement”). Enerplus was an independent North American oil and gas exploration and production company domiciled in Canada with substantially all of its producing assets in the Williston Basin of North Dakota, with limited non-operated interests in the Marcellus Shale. The transaction was effected by way of a plan of arrangement under the Business Corporations Act (Alberta) . The Arrangement was completed on May 31, 2024. In connection with the Arrangement, the Board of Directors of Chord unanimously (i) determined the issuance of the shares of common stock, par value $0.01 per share, of Chord (the “Chord Stock Issuance”), and the amendment of Chord’s restated certificate of incorporation to increase the number of authorized shares of common stock from 120,000,000 to 240,000,000 shares of common stock (the “Chord Charter Amendment”) are fair to, and in the best interests of, Chord and the holders of common stock, (ii) approved and declared advisable the Chord Stock Issuance and Chord Charter Amendment and (iii) recommended that the holders of common stock approve the Chord Stock Issuance and Chord Charter Amendment. Under the terms of the Arrangement Agreement, Enerplus shareholders received 0.10125 shares of Chord common stock (the “Share Consideration”) and $1.84 per share in cash (the “Cash Consideration” and together with the Share Consideration, the “Arrangement Consideration”) in exchange for each share of Enerplus they owned at closing. The Arrangement has been accounted for under the acquisition method of accounting in accordance with the FASB ASC 805, Business Combinations (“ASC 805”). Chord was treated as the acquirer for accounting purposes. Under the acquisition method of accounting, the assets and liabilities of Enerplus have been recorded at their respective fair values as of the acquisition date on May 31, 2024. As provided under ASC 805, the purchase price allocation may be subject to change for up to one year after May 31, 2024. See Note 8—Acquisitions for additional information. 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 Goodwill . In accordance with FASB ASC 350, Intangibles - Goodwill and Other , goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business combination. Goodwill has an indefinite useful life and is not amortized, but rather is tested by the Company for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of the reporting unit may have been reduced below its carrying value. If the Company’s qualitative analysis indicates that it is more likely than not that the fair value of the reporting unit is less than its carrying value, the Company then performs a quantitative impairment test. If the carrying amount exceeds the fair value, an impairment loss is recognized for that excess amount. Any such charge will not affect the Company’s cash flow from operating activities or liquidity. Other than the item disclosed above, 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 FASB issued 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	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Crude oil revenues $ 848,104 $ 647,868 $ 1,526,955 $ 1,298,776 Purchased crude oil sales 346,721 205,226 673,368 314,491 NGL and natural gas revenues 54,563 47,558 123,874 162,850 Purchased NGL and natural gas sales 11,292 11,419 21,743 32,471 Total revenues $ 1,260,680 $ 912,071 $ 2,345,940 $ 1,808,588 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 and six months ended June 30, 2024 and 2023, revenue recognized related to performance obligations satisfied in prior reporting periods was not material.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory The following table sets forth the Company’s inventory balances for the periods presented: June 30, 2024 December 31, 2023 (In thousands) Inventory Equipment and materials $ 30,901 $ 30,201 Crude oil inventory 49,004 42,364 Total inventory 79,905 72,565 Long-term inventory Linefill in third-party pipelines 27,619 22,936 Total long-term inventory 27,619 22,936 Total $ 107,524 $ 95,501

Additional Balance Sheet Inform

Additional Balance Sheet Information	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 (In thousands) Accounts receivable, net Trade and other accounts $ 977,211 $ 749,356 Joint interest accounts 314,508 207,571 Total accounts receivable 1,291,719 956,927 Less: allowance for credit losses (15,785) (13,813) Total accounts receivable, net $ 1,275,934 $ 943,114 Revenues and production taxes payable Royalties payable $ 369,313 $ 297,531 Revenue suspense 347,500 266,704 Production taxes payable 55,752 40,469 Total revenue and production taxes payable $ 772,565 $ 604,704 Accrued liabilities Accrued oil and gas marketing $ 208,683 $ 165,141 Accrued capital costs 235,139 122,260 Accrued lease operating expenses 131,648 107,606 Accrued general and administrative expenses 61,519 37,882 Current portion of asset retirement obligations 37,016 10,507 Accrued dividends 19,138 25,167 Other accrued liabilities 21,284 24,818 Total accrued liabilities $ 714,427 $ 493,381

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 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 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 June 30, 2024 Level 1 Level 2 Level 3 Total (In thousands) Assets: Commodity derivative contracts (see Note 6) $ — $ 1,100 $ — $ 1,100 Contingent consideration (see Note 6) — 46,734 — 46,734 Investment in unconsolidated affiliate (see Note 10) 117,738 — — 117,738 Total assets $ 117,738 $ 47,834 $ — $ 165,572 Liabilities: Commodity derivative contracts (see Note 6) $ — $ 15,371 $ — $ 15,371 Total liabilities $ — $ 15,371 $ — $ 15,371 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 $0.4 million and $0.5 million at June 30, 2024 and December 31, 2023, respectively. See Note 6—Derivative Instruments for additional information. Transportation derivative contracts. The Company had buy/sell transportation contracts that were derivative contracts for which the Company had not elected the “normal purchase normal sale” exclusion under FASB ASC 815, Derivatives and Hedging . These transportation derivative contracts were valued by a third-party preparer based on an income approach. The significant inputs used were 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 included certain market differential metrics that were unobservable during the term of the contracts. Such unobservable inputs were significant to the contract valuation methodology, and the contracts’ fair values were therefore designated as Level 3 within the fair value hierarchy as of December 31, 2023. As of June 30, 2024, the terms of these contracts expired. 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 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 six months ended June 30, 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 June 30, 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. Enerplus Arrangement. On May 31, 2024, the Company completed the Arrangement with Enerplus. The assets acquired and liabilities assumed were recorded at fair value as of May 31, 2024. The fair value of Enerplus’ oil and gas properties was calculated using an income approach based on the net discounted future cash flows from the producing properties and related assets. The inputs utilized in the valuation of the oil and gas properties and related assets 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, forecasted commodity prices (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 ARO assumed from Enerplus at fair value. The inputs utilized in valuing the assumed ARO were mostly Level 3 unobservable inputs, including estimated economic lives of oil and natural gas wells as of May 31, 2024, anticipated future plugging and abandonment costs and an appropriate credit-adjusted risk-free rate to discount such costs. In addition, the Company recorded goodwill as a result of the Enerplus Arrangement. Goodwill is subject to ongoing impairment evaluation as described in Note 1—Organization and Summary of Significant Accounting Policies—Goodwill. See Note 8—Acquisitions for additional information. 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	6 Months Ended
	Jun. 30, 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 June 30, 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 3,404,000 Bbls $ 66.76 $ 82.68 Crude oil 2024 Three-way collars 736,000 Bbls $ 55.00 $ 71.25 $ 92.14 Crude oil 2024 Fixed-price swaps 552,000 Bbls $ 76.43 Crude oil 2025 Two-way collars 3,006,000 Bbls $ 63.04 $ 80.17 Crude oil 2025 Three-way collars 2,371,000 Bbls $ 52.69 $ 67.69 $ 82.14 Crude oil 2026 Three-way collars 1,175,000 Bbls $ 53.85 $ 68.85 $ 80.19 Natural gas 2025 Fixed-price swaps 4,301,600 MMBtu $ 3.75 Subsequent to June 30, 2024, the Company entered into the following commodity derivative contracts: Weighted Average Prices Commodity Settlement Period Derivative Instrument Volumes Sub-Floor Floor Ceiling Crude oil 2024 Two-way collars 276,000 Bbls $ 75.00 $ 79.05 Crude oil 2025 Two-way collars 1,372,000 Bbls $ 65.98 $ 76.99 Crude oil 2026 Three-way collars 1,365,000 Bbls $ 50.00 $ 65.00 $ 79.62 Transportation derivative contracts. The Company had contracts that provided for the transportation of crude oil through a buy/sell structure from North Dakota to either Cushing, Oklahoma or Guernsey, Wyoming. The contracts had required the purchase and sale of fixed volumes of crude oil through July 2024 as specified in the agreements. The Company determined that these contracts qualified as derivatives and did not elect the “normal purchase normal sale” exclusion. As of June 30, 2024, the terms of both of these contracts expired. As of December 31, 2023, the estimated fair value of the remaining contract was a $5.9 million asset, which was classified as a current derivative asset on the Company’s Condensed Consolidated Balance Sheet. The Company recorded the changes in fair value of these contracts to GPT expenses on the Company’s Condensed Consolidated Statements 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 June 30, 2024, the estimated fair value of the Permian Basin Sale Contingent Consideration was $46.7 million, of which $24.2 million was classified as a current derivative asset and $22.5 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 June 30, Six Months Ended June 30, Derivative Instrument Statements of Operations Location 2024 2023 2024 2023 (In thousands) Commodity derivatives Net gain (loss) on derivative instruments $ 3,954 $ 29,740 $ (26,997) $ 95,580 Commodity derivatives (buy/sell transportation contracts) Gathering, processing and transportation expenses (1) (2,647) 7,123 (5,877) 18,279 Contingent consideration Net gain (loss) on derivative instruments 654 (222) 4,028 872 __________________ (1) The change in the fair value of the transportation derivative contracts was recorded in GPT expenses as a loss for the three and six months ended June 30, 2024 and as a gain for the three and six months ended June 30, 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: June 30, 2024 Derivative Instrument Balance Sheet Location Gross Amount Gross Amount Offset Net Amount (In thousands) Derivatives assets: Commodity derivatives Derivative instruments — current assets $ 14,066 $ (12,966) $ 1,100 Contingent consideration Derivative instruments — current assets 24,192 — 24,192 Commodity derivatives Derivative instruments — non-current assets 19,907 (19,907) — Contingent consideration Derivative instruments — non-current assets 22,542 — 22,542 Total derivatives assets $ 80,707 $ (32,873) $ 47,834 Derivatives liabilities: Commodity derivatives Derivative instruments — current liabilities $ 26,909 $ (12,966) $ 13,943 Commodity derivatives Derivative instruments — non-current liabilities 21,335 (19,907) 1,428 Total derivatives liabilities $ 48,244 $ (32,873) $ 15,371 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 derivatives 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	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 (In thousands) Proved oil and gas properties $ 11,119,012 $ 6,220,766 Less: Accumulated depletion (1,420,871) (1,035,393) Proved oil and gas properties, net 9,698,141 5,185,373 Unproved oil and gas properties 1,018,722 99,477 Other property and equipment 57,327 49,051 Less: Accumulated depreciation (21,140) (19,223) Other property and equipment, net 36,187 29,828 Total property, plant and equipment, net $ 10,753,050 $ 5,314,678

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions 2024 Acquisition On May 31, 2024, the Company completed the Arrangement with Enerplus and issued 20,680,097 shares of common stock and paid $375.8 million of cash to Enerplus shareholders. Also on May 31, 2024, and pursuant to the Arrangement Agreement, the Company (i) paid cash to settle Enerplus equity-based compensation awards, (ii) paid cash to satisfy and discharge in full the Enerplus credit facility and (iii) paid a cash retention bonus to Enerplus employees. Preliminary purchase price allocation . The Company recorded the assets acquired and liabilities assumed in the Arrangement at their estimated fair value on May 31, 2024 of $4.1 billion. Goodwill recognized as a result of the Arrangement totaled $539.8 million, none of which is deductible for income tax purposes. The assignment of goodwill to reporting units was not complete as of June 30, 2024. Goodwill is primarily attributable to additional operational and financial synergies expected to be realized from the combined operations. Determining the fair value of the assets and liabilities of Enerplus requires judgement and certain assumptions to be made. See Note 5—Fair Value Measurements for additional information. The tables below present the total consideration transferred and its preliminary allocation to the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting goodwill as of the acquisition date of May 31, 2024. As provided under ASC 805, the purchase price allocation may be subject to change for up to one year after May 31, 2024, which may result in a different allocation than that presented in the tables below. Certain estimated values for the acquisition, including oil and natural gas properties, intangibles and inventory, are not yet finalized and are subject to revision as additional information becomes available and more detailed analyses are completed. Purchase Price Consideration (In thousands) Common stock issued to Enerplus shareholders (1) $ 3,732,137 Cash paid to Enerplus shareholders (1) 375,813 Cash paid to settle Enerplus equity-based compensation awards (2) 102,393 Cash paid to settle Enerplus credit facility (3) 395,000 Cash paid for retention bonus to Enerplus employees (4) 5,920 Total consideration transferred $ 4,611,263 __________________ (1) The Company issued 20,680,097 shares of common stock and paid $375.8 million of cash to Enerplus shareholders as Arrangement Consideration. Enerplus shareholders received, for each Enerplus common share issued and outstanding, 0.10125 shares of common stock as Share Consideration and $1.84 per share of cash as Cash Consideration. The fair value of the common stock issued was based on the opening price of the Company’s common stock on May 31, 2024 of $180.47. See Note 15—Stockholders’ Equity for additional information. (2) Each Enerplus outstanding equity-based compensation award became fully vested upon completion of the Arrangement on May 31, 2024. See Note 15—Stockholders’ Equity for additional information. (3) On May 31, 2024, the Company fully satisfied all obligations under the Enerplus credit facility, and the Enerplus credit facility was concurrently terminated. See Note 11— Long-Term Debt for additional information. (4) In connection with the Arrangement, employees of Enerplus were paid a retention bonus upon the closing of the Arrangement totaling $5.9 million. Preliminary Purchase Price Allocation (In thousands) Assets acquired: Cash and cash equivalents $ 239,921 Accounts receivable, net 281,492 Inventory 5,701 Prepaid expenses 16,323 Oil and gas properties (successful efforts method) 5,253,860 Other property and equipment 6,812 Long-term inventory 8,636 Operating right-of-use assets 42,954 Other assets 1,049 Total assets acquired $ 5,856,748 Liabilities assumed: Accounts payable $ 1,965 Revenues and production taxes payable 199,706 Accrued liabilities 186,334 Current portion of long-term debt 60,063 Current operating lease liabilities 27,420 Deferred tax liabilities 1,179,200 Asset retirement obligations 115,056 Operating lease liabilities 15,534 Total liabilities assumed $ 1,785,278 Net assets acquired $ 4,071,470 Goodwill acquired 539,793 Purchase price consideration $ 4,611,263 Post-arrangement operating results. The results of operations of Enerplus have been included in the Company’s unaudited condensed consolidated financial statements since the closing of the Arrangement on May 31, 2024. The following table summarizes the total revenues and income before income taxes attributable to Enerplus that were recorded in the Company’s Condensed Consolidated Statement of Operations for the periods presented. Three and Six Months Ended June 30, 2024 (In thousands) Revenues $ 132,036 Income before income taxes 15,131 Unaudited pro forma financial information. Summarized below are the condensed consolidated results of operations for the periods presented, on an unaudited pro forma basis, as if the Arrangement had occurred on January 1, 2023. The information presented below reflects pro forma adjustments based on available information and certain assumptions that the Company believes are factual and supportable. The pro forma financial information includes certain non-recurring pro forma adjustments that were directly attributable to the Arrangement, including transaction costs incurred by the Company. The unaudited pro forma financial information does not purport to be indicative of results of operations that would have occurred had the Arrangement occurred on the basis assumed above, nor is such information indicative of the Company’s expected future results. The pro forma results of operations do not include any future cost savings or other synergies that may result from the Arrangement or any estimated costs that have not yet been incurred by the Company to integrate the Enerplus assets. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Revenues $ 1,529,346 $ 1,236,247 $ 2,947,425 $ 2,518,005 Net income 315,626 263,987 574,643 595,469 Net income per share: Basic $ 5.05 $ 4.25 $ 9.23 $ 9.57 Diluted 4.95 4.12 9.04 9.31 2023 Acquisition On May 22, 2023, a wholly-owned subsidiary of the Company 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. As of December 31, 2023, the purchase price was finalized with an immaterial adjustment to the preliminary purchase price allocation presented below. 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	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures 2024 Divestitures During the three and six months ended June 30, 2024, the Company completed certain non-operated wellbore divestitures in the Williston Basin for total net cash proceeds of $18.2 million and $20.4 million, respectively. 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. As of 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. 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	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Affiliate	Investment in Unconsolidated Affiliate As of June 30, 2024 and December 31, 2023, the fair value of the Company’s investment in Energy Transfer was $117.7 million and $100.2 million, respectively, which represented 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 and six months ended June 30, 2024, the Company recorded a net gain of $5.9 million and $22.2 million, respectively, on its investment in Energy Transfer, comprised of an unrealized gain for the change in fair value of the investment of $3.6 million and $17.6 million, respectively, and a realized gain for cash distributions received of $2.3 million and $4.6 million, respectively. During the three and six months ended June 30, 2023, the Company recorded a net gain of $10.1 million and $7.9 million, respectively, on its investment in Energy Transfer, primarily comprised of an unrealized gain for the change in the fair value of its investment of $6.8 million and $1.1 million, respectively, and a realized gain for cash distributions received of $3.0 million and $6.0 million, respectively.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt, including the current portion, consists of the following: June 30, 2024 December 31, 2023 (In thousands) Senior secured revolving line of credit $ 575,000 $ — Chord senior unsecured notes 400,000 400,000 Enerplus senior unsecured notes 60,063 — Less: unamortized deferred financing costs (3,254) (4,098) Total debt, net 1,031,809 395,902 Less: current portion of long-term debt, net (60,063) — Total long-term debt, net $ 971,746 $ 395,902 Senior secured revolving line of credit . The Company has a senior secured revolving credit facility (the “Credit Facility”) among Oasis Petroleum North America LLC, the Company, Chord Energy LLC, the other guarantors party thereto, each of the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent and issuing bank. The Credit Facility matures on July 1, 2027. On May 31, 2024, the Company entered into the Fifth Amendment to Amended and Restated Credit Agreement (the “Fifth Amendment”). The Fifth Amendment, among other things, increases the borrowing base to $3.0 billion and increases the aggregate amount of elected commitments to $1.5 billion. The foregoing description of the Fifth Amendment does not purport to be complete and is qualified in its entirety by reference to the text of the Fifth Amendment, a copy of which is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q. The next scheduled redetermination is expected to occur in or around October 2024. At June 30, 2024, the Company had $575.0 million borrowings outstanding and $30.2 million of outstanding letters of credit issued under the Credit Facility, resulting in an unused borrowing capacity of $894.8 million. At 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 and six months ended June 30, 2024, the weighted average interest rate incurred on borrowings on the Credit Facility was 7.53% for both periods. During the three and six months ended June 30, 2023, the Company incurred no borrowings on the Credit Facility, resulting in a weighted average interest rate of 0.00%. The Company was in compliance with the financial covenants under the Credit Facility at June 30, 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%. Senior unsecured notes. At June 30, 2024, the Company had $400.0 million of 6.375% senior unsecured notes outstanding due June 1, 2026 (the “Senior Notes”). Interest on the Senior Notes is payable semi-annually on June 1 and December 1 of each year. As of June 30, 2024 and December 31, 2023, the fair value of the Senior Notes, which are publicly traded among qualified institutional investors and represent a Level 1 fair value measurement, was $399.9 million and $400.0 million, respectively. Enerplus credit facility . Upon consummation of the Arrangement on May 31, 2024, the Enerplus credit facility was terminated, and the Company paid the remaining outstanding amount of $395.0 million to fully satisfy all such outstanding obligations that were owed under the Enerplus credit facility. Enerplus senior unsecured notes. Upon consummation of the Arrangement on May 31, 2024, the Company assumed $63.0 million of 3.79% senior unsecured notes from Enerplus (the “Enerplus Senior Notes”). The Enerplus Senior Notes are recorded in the Condensed Consolidated Balance Sheet at their fair value acquired of $60.1 million. The fair value of the Enerplus Senior Notes, which represent a Level 2 fair value measurement, was $60.3 million at June 30, 2024, and was estimated based on the amount that the Company would have to pay a third party to assume the debt, including the credit spread for the difference between the issue rate and the period end market rate. The period end market rate is estimated by comparing the debt to new issuances (secured or unsecured) and secondary trades of similar size and credit statistics for both public and private debt. On July 2, 2024, the Company repaid all of the remaining outstanding Enerplus Senior Notes of $63.0 million and the remaining accrued interest on such notes of $0.8 million.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2024 (in thousands): Balance at December 31, 2023 $ 165,546 Liabilities assumed in Arrangement 138,489 Liabilities incurred during period 1,888 Liabilities settled during period (891) Liabilities settled through divestitures (244) Accretion expense during period 6,451 Revisions to estimates 1,594 Balance at June 30, 2024 $ 312,833 The Company’s ARO includes plugging and abandonment liabilities for its oil and gas properties in the United States and Canada. Accretion expense is included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. At June 30, 2024, the current portion of the total ARO balance was $37.0 million and is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate was 26.8% and 24.7% of pre-tax income, respectively, for the three and six months ended June 30, 2024 as compared to an effective tax rate of 24.4% and 23.9% for the three and six months ended June 30, 2023, respectively. The effective tax rate for the three months ended June 30, 2024 was higher than the statutory federal rate of 21% primarily as a result of the impact of state income taxes and Canadian losses for which no benefit is recognized. The effective tax rate for the three months ended June 30, 2023 was higher than the statutory federal rate of 21% primarily as a result of state income taxes. The effective tax rates for the six months ended June 30, 2024 and June 30, 2023 were higher than the statutory federal rate of 21% primarily as a result of state income taxes. On May 31, 2024, the Company completed the Arrangement, and as a result recognized a net deferred tax liability of $1.2 billion in its purchase price allocation as of the acquisition date primarily to reflect the difference between the tax basis and the fair value of Enerplus’ assets acquired and liabilities assumed. The Company did not record a Canadian deferred tax asset due to the lack of continued operations in Canada going forward.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024, the Company recognized $5.4 million and $10.1 million, respectively, in equity-based compensation expenses related to equity-classified awards. During the three and six months ended June 30, 2023, the Company recognized $15.3 million and $27.2 million, respectively, in equity-based compensation expenses related to equity-classified awards. Equity-based compensation expenses related to liability-classified awards were not material for the three and six months ended June 30, 2024 and 2023. Pursuant to the Arrangement Agreement, at the effective time of the Arrangement, all Enerplus equity-based compensation awards became fully vested and paid in cash. The fair value of the equity-classified awards that vested on May 31, 2024 was $102.4 million. 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 six months ended June 30, 2024, the Company granted 139,578 RSUs to employees and non-employee directors of the Company with a weighted average grant date fair value of $165.85 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 six months ended June 30, 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 six months ended June 30, 2024, the Company granted (i) 14,677 Absolute TSR PSUs to employees of the Company with a weighted average grant date fair value of $233.19 per share and (ii) 44,033 Relative TSR PSUs to employees of the Company with a weighted average grant date fair 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 six months ended June 30, 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 six months ended June 30, 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	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Authorized Shares of Common Stock Chord stockholders approved an amendment to the Amended and Restated Certificate of Incorporation on May 14, 2024 to increase the number of authorized shares of common stock from 120,000,000 to 240,000,000 in connection with the Arrangement. The amendment became effective on May 31, 2024. Issuance of Common Stock Pursuant to the Arrangement Agreement, each Enerplus common share issued and outstanding immediately prior to the effective time of the Arrangement was converted into the right to receive 0.10125 shares of Chord common stock, par value $0.01 per share. As a result of the completion of the Arrangement on May 31, 2024, the Company issued 20,680,097 shares of common stock to Enerplus shareholders. Dividends The following table summarizes the Company’s fixed and variable dividends declared for the six months ended June 30, 2024 and 2023: Rate per Share Base Variable Total Total Dividends Declared (In thousands) Q2 2024 $ 1.25 $ 1.69 $ 2.94 $ 124,708 Q1 2024 1.25 2.00 3.25 137,541 Total $ 2.50 $ 3.69 $ 6.19 $ 262,249 Q2 2023 $ 1.25 $ 1.97 $ 3.22 $ 137,507 Q1 2023 1.25 3.55 4.80 204,884 Total $ 2.50 $ 5.52 $ 8.02 $ 342,391 Total dividends declared in the table above includes $1.9 million and $4.3 million associated with dividend equivalent rights on unvested equity-based compensation awards for the three and six months ended June 30, 2024, respectively, and $3.8 million and $8.8 million for the three and six months ended June 30, 2023, respectively. On August 7, 2024, the Company declared a base-plus-variable cash dividend of $2.52 per share of common stock. The dividend will be payable on September 5, 2024 to shareholders of record as of August 21, 2024. Share Repurchase Program During the six months ended June 30, 2024, the Company repurchased 558,579 shares of common stock at a weighted average price of $164.23 per common share for a total cost of $91.7 million. As of June 30, 2024, there was $591.3 million of capacity remaining under the Company’s $750.0 million share repurchase program. During the six months ended June 30, 2023, the Company repurchased 319,458 shares of common stock at a weighted average price of $143.41 per common share for a total cost of $45.8 million under its previous repurchase program, which was replaced by its current $750.0 million share repurchase program. Warrants As of June 30, 2024, the Company had 2,161,803 warrants outstanding, comprised of (i) 432,558 warrants with an exercise price of $75.57 per share that expire on November 19, 2024, (ii) 774,327 warrants with an exercise price of $116.37 per share that expire on September 1, 2024 and (iii) 954,918 warrants with an exercise price of $133.70 per share that expire on September 1, 2025.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 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 (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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands, except per share data) Net income $ 213,361 $ 216,071 $ 412,715 $ 513,070 Distributed and undistributed earnings allocated to participating securities (1,032) (726) (1,824) (1,453) Net income attributable to common stockholders (basic) 212,329 215,345 410,891 511,617 Reallocation of distributed and undistributed earnings allocated to participating securities 10 12 17 20 Net income attributable to common stockholders (diluted) $ 212,339 $ 215,357 $ 410,908 $ 511,637 Weighted average common shares outstanding: Basic weighted average common shares outstanding 48,665 41,494 45,048 41,531 Dilutive effect of share-based awards 375 933 438 917 Dilutive effect of warrants 876 959 827 819 Diluted weighted average common shares outstanding 49,916 43,386 46,313 43,267 Basic earnings per share $ 4.36 $ 5.19 $ 9.12 $ 12.32 Diluted earnings per share $ 4.25 $ 4.96 $ 8.87 $ 11.83 Anti-dilutive weighted average common shares: Potential common shares 1,818 4,118 2,028 4,340 For the three and six months ended June 30, 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	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of June 30, 2024, the Company’s material off-balance sheet arrangements and transactions include $30.2 million in outstanding letters of credit under the Credit Facility and $73.9 million in net surety bond exposure issued as financial assurance on certain agreements.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases During the six months ended June 30, 2023, the Company recorded a right-of-use asset impairment charge of $17.5 million to exploration and impairment on the Condensed Consolidated Statements of Operations related to a portion of one of its Denver corporate offices. There were no lease impairment charges recorded during the three and six months ended June 30, 2024, nor during the three months ended June 30, 2023. In connection with the Arrangement, the Company assumed approximately $29.0 million of operating lease liabilities for operating equipment with lease terms through 2027, $7.5 million of operating lease liabilities for office space, primarily in Denver and Calgary, with lease terms through 2029, and approximately $6.5 million of finance lease liabilities for vehicles with lease terms through 2027.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 213,361	$ 216,071	$ 412,715	$ 513,070

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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.
Significant Accounting Policies	Significant Accounting Policies Goodwill . In accordance with FASB ASC 350, Intangibles - Goodwill and Other , goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business combination. Goodwill has an indefinite useful life and is not amortized, but rather is tested by the Company for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of the reporting unit may have been reduced below its carrying value. If the Company’s qualitative analysis indicates that it is more likely than not that the fair value of the reporting unit is less than its carrying value, the Company then performs a quantitative impairment test. If the carrying amount exceeds the fair value, an impairment loss is recognized for that excess amount. Any such charge will not affect the Company’s cash flow from operating activities or liquidity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued 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 and six months ended June 30, 2024 and 2023, revenue recognized related to performance obligations satisfied in prior reporting periods was not material.
Financial Assets and Liabilities	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)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Crude oil revenues $ 848,104 $ 647,868 $ 1,526,955 $ 1,298,776 Purchased crude oil sales 346,721 205,226 673,368 314,491 NGL and natural gas revenues 54,563 47,558 123,874 162,850 Purchased NGL and natural gas sales 11,292 11,419 21,743 32,471 Total revenues $ 1,260,680 $ 912,071 $ 2,345,940 $ 1,808,588

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table sets forth the Company’s inventory balances for the periods presented: June 30, 2024 December 31, 2023 (In thousands) Inventory Equipment and materials $ 30,901 $ 30,201 Crude oil inventory 49,004 42,364 Total inventory 79,905 72,565 Long-term inventory Linefill in third-party pipelines 27,619 22,936 Total long-term inventory 27,619 22,936 Total $ 107,524 $ 95,501
Schedule of Long-Term Inventory	The following table sets forth the Company’s inventory balances for the periods presented: June 30, 2024 December 31, 2023 (In thousands) Inventory Equipment and materials $ 30,901 $ 30,201 Crude oil inventory 49,004 42,364 Total inventory 79,905 72,565 Long-term inventory Linefill in third-party pipelines 27,619 22,936 Total long-term inventory 27,619 22,936 Total $ 107,524 $ 95,501

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 (In thousands) Accounts receivable, net Trade and other accounts $ 977,211 $ 749,356 Joint interest accounts 314,508 207,571 Total accounts receivable 1,291,719 956,927 Less: allowance for credit losses (15,785) (13,813) Total accounts receivable, net $ 1,275,934 $ 943,114 Revenues and production taxes payable Royalties payable $ 369,313 $ 297,531 Revenue suspense 347,500 266,704 Production taxes payable 55,752 40,469 Total revenue and production taxes payable $ 772,565 $ 604,704 Accrued liabilities Accrued oil and gas marketing $ 208,683 $ 165,141 Accrued capital costs 235,139 122,260 Accrued lease operating expenses 131,648 107,606 Accrued general and administrative expenses 61,519 37,882 Current portion of asset retirement obligations 37,016 10,507 Accrued dividends 19,138 25,167 Other accrued liabilities 21,284 24,818 Total accrued liabilities $ 714,427 $ 493,381

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 Level 1 Level 2 Level 3 Total (In thousands) Assets: Commodity derivative contracts (see Note 6) $ — $ 1,100 $ — $ 1,100 Contingent consideration (see Note 6) — 46,734 — 46,734 Investment in unconsolidated affiliate (see Note 10) 117,738 — — 117,738 Total assets $ 117,738 $ 47,834 $ — $ 165,572 Liabilities: Commodity derivative contracts (see Note 6) $ — $ 15,371 $ — $ 15,371 Total liabilities $ — $ 15,371 $ — $ 15,371 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)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Commodity Derivative Instruments	At June 30, 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 3,404,000 Bbls $ 66.76 $ 82.68 Crude oil 2024 Three-way collars 736,000 Bbls $ 55.00 $ 71.25 $ 92.14 Crude oil 2024 Fixed-price swaps 552,000 Bbls $ 76.43 Crude oil 2025 Two-way collars 3,006,000 Bbls $ 63.04 $ 80.17 Crude oil 2025 Three-way collars 2,371,000 Bbls $ 52.69 $ 67.69 $ 82.14 Crude oil 2026 Three-way collars 1,175,000 Bbls $ 53.85 $ 68.85 $ 80.19 Natural gas 2025 Fixed-price swaps 4,301,600 MMBtu $ 3.75 Subsequent to June 30, 2024, the Company entered into the following commodity derivative contracts: Weighted Average Prices Commodity Settlement Period Derivative Instrument Volumes Sub-Floor Floor Ceiling Crude oil 2024 Two-way collars 276,000 Bbls $ 75.00 $ 79.05 Crude oil 2025 Two-way collars 1,372,000 Bbls $ 65.98 $ 76.99 Crude oil 2026 Three-way collars 1,365,000 Bbls $ 50.00 $ 65.00 $ 79.62
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 June 30, Six Months Ended June 30, Derivative Instrument Statements of Operations Location 2024 2023 2024 2023 (In thousands) Commodity derivatives Net gain (loss) on derivative instruments $ 3,954 $ 29,740 $ (26,997) $ 95,580 Commodity derivatives (buy/sell transportation contracts) Gathering, processing and transportation expenses (1) (2,647) 7,123 (5,877) 18,279 Contingent consideration Net gain (loss) on derivative instruments 654 (222) 4,028 872 __________________ (1) The change in the fair value of the transportation derivative contracts was recorded in GPT expenses as a loss for the three and six months ended June 30, 2024 and as a gain for the three and six months ended June 30, 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: June 30, 2024 Derivative Instrument Balance Sheet Location Gross Amount Gross Amount Offset Net Amount (In thousands) Derivatives assets: Commodity derivatives Derivative instruments — current assets $ 14,066 $ (12,966) $ 1,100 Contingent consideration Derivative instruments — current assets 24,192 — 24,192 Commodity derivatives Derivative instruments — non-current assets 19,907 (19,907) — Contingent consideration Derivative instruments — non-current assets 22,542 — 22,542 Total derivatives assets $ 80,707 $ (32,873) $ 47,834 Derivatives liabilities: Commodity derivatives Derivative instruments — current liabilities $ 26,909 $ (12,966) $ 13,943 Commodity derivatives Derivative instruments — non-current liabilities 21,335 (19,907) 1,428 Total derivatives liabilities $ 48,244 $ (32,873) $ 15,371 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 derivatives 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)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following table sets forth the Company’s property, plant and equipment: June 30, 2024 December 31, 2023 (In thousands) Proved oil and gas properties $ 11,119,012 $ 6,220,766 Less: Accumulated depletion (1,420,871) (1,035,393) Proved oil and gas properties, net 9,698,141 5,185,373 Unproved oil and gas properties 1,018,722 99,477 Other property and equipment 57,327 49,051 Less: Accumulated depreciation (21,140) (19,223) Other property and equipment, net 36,187 29,828 Total property, plant and equipment, net $ 10,753,050 $ 5,314,678

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	The tables below present the total consideration transferred and its preliminary allocation to the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting goodwill as of the acquisition date of May 31, 2024. As provided under ASC 805, the purchase price allocation may be subject to change for up to one year after May 31, 2024, which may result in a different allocation than that presented in the tables below. Certain estimated values for the acquisition, including oil and natural gas properties, intangibles and inventory, are not yet finalized and are subject to revision as additional information becomes available and more detailed analyses are completed. Purchase Price Consideration (In thousands) Common stock issued to Enerplus shareholders (1) $ 3,732,137 Cash paid to Enerplus shareholders (1) 375,813 Cash paid to settle Enerplus equity-based compensation awards (2) 102,393 Cash paid to settle Enerplus credit facility (3) 395,000 Cash paid for retention bonus to Enerplus employees (4) 5,920 Total consideration transferred $ 4,611,263 __________________ (1) The Company issued 20,680,097 shares of common stock and paid $375.8 million of cash to Enerplus shareholders as Arrangement Consideration. Enerplus shareholders received, for each Enerplus common share issued and outstanding, 0.10125 shares of common stock as Share Consideration and $1.84 per share of cash as Cash Consideration. The fair value of the common stock issued was based on the opening price of the Company’s common stock on May 31, 2024 of $180.47. See Note 15—Stockholders’ Equity for additional information. (2) Each Enerplus outstanding equity-based compensation award became fully vested upon completion of the Arrangement on May 31, 2024. See Note 15—Stockholders’ Equity for additional information. (3) On May 31, 2024, the Company fully satisfied all obligations under the Enerplus credit facility, and the Enerplus credit facility was concurrently terminated. See Note 11— Long-Term Debt for additional information. (4) In connection with the Arrangement, employees of Enerplus were paid a retention bonus upon the closing of the Arrangement totaling $5.9 million.
Schedule of Purchase Price Allocation	Preliminary Purchase Price Allocation (In thousands) Assets acquired: Cash and cash equivalents $ 239,921 Accounts receivable, net 281,492 Inventory 5,701 Prepaid expenses 16,323 Oil and gas properties (successful efforts method) 5,253,860 Other property and equipment 6,812 Long-term inventory 8,636 Operating right-of-use assets 42,954 Other assets 1,049 Total assets acquired $ 5,856,748 Liabilities assumed: Accounts payable $ 1,965 Revenues and production taxes payable 199,706 Accrued liabilities 186,334 Current portion of long-term debt 60,063 Current operating lease liabilities 27,420 Deferred tax liabilities 1,179,200 Asset retirement obligations 115,056 Operating lease liabilities 15,534 Total liabilities assumed $ 1,785,278 Net assets acquired $ 4,071,470 Goodwill acquired 539,793 Purchase price consideration $ 4,611,263 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. As of December 31, 2023, the purchase price was finalized with an immaterial adjustment to the preliminary purchase price allocation presented below. 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
Schedule of Pro Forma Information	The following table summarizes the total revenues and income before income taxes attributable to Enerplus that were recorded in the Company’s Condensed Consolidated Statement of Operations for the periods presented. Three and Six Months Ended June 30, 2024 (In thousands) Revenues $ 132,036 Income before income taxes 15,131 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Revenues $ 1,529,346 $ 1,236,247 $ 2,947,425 $ 2,518,005 Net income 315,626 263,987 574,643 595,469 Net income per share: Basic $ 5.05 $ 4.25 $ 9.23 $ 9.57 Diluted 4.95 4.12 9.04 9.31

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt, including the current portion, consists of the following: June 30, 2024 December 31, 2023 (In thousands) Senior secured revolving line of credit $ 575,000 $ — Chord senior unsecured notes 400,000 400,000 Enerplus senior unsecured notes 60,063 — Less: unamortized deferred financing costs (3,254) (4,098) Total debt, net 1,031,809 395,902 Less: current portion of long-term debt, net (60,063) — Total long-term debt, net $ 971,746 $ 395,902

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2024 (in thousands): Balance at December 31, 2023 $ 165,546 Liabilities assumed in Arrangement 138,489 Liabilities incurred during period 1,888 Liabilities settled during period (891) Liabilities settled through divestitures (244) Accretion expense during period 6,451 Revisions to estimates 1,594 Balance at June 30, 2024 $ 312,833

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Dividends Payable	The following table summarizes the Company’s fixed and variable dividends declared for the six months ended June 30, 2024 and 2023: Rate per Share Base Variable Total Total Dividends Declared (In thousands) Q2 2024 $ 1.25 $ 1.69 $ 2.94 $ 124,708 Q1 2024 1.25 2.00 3.25 137,541 Total $ 2.50 $ 3.69 $ 6.19 $ 262,249 Q2 2023 $ 1.25 $ 1.97 $ 3.22 $ 137,507 Q1 2023 1.25 3.55 4.80 204,884 Total $ 2.50 $ 5.52 $ 8.02 $ 342,391

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands, except per share data) Net income $ 213,361 $ 216,071 $ 412,715 $ 513,070 Distributed and undistributed earnings allocated to participating securities (1,032) (726) (1,824) (1,453) Net income attributable to common stockholders (basic) 212,329 215,345 410,891 511,617 Reallocation of distributed and undistributed earnings allocated to participating securities 10 12 17 20 Net income attributable to common stockholders (diluted) $ 212,339 $ 215,357 $ 410,908 $ 511,637 Weighted average common shares outstanding: Basic weighted average common shares outstanding 48,665 41,494 45,048 41,531 Dilutive effect of share-based awards 375 933 438 917 Dilutive effect of warrants 876 959 827 819 Diluted weighted average common shares outstanding 49,916 43,386 46,313 43,267 Basic earnings per share $ 4.36 $ 5.19 $ 9.12 $ 12.32 Diluted earnings per share $ 4.25 $ 4.96 $ 8.87 $ 11.83 Anti-dilutive weighted average common shares: Potential common shares 1,818 4,118 2,028 4,340

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Narrative (Details)	Feb. 21, 2024 $ / shares	Jun. 30, 2024 $ / shares shares	May 14, 2024 shares	May 13, 2024 shares	Dec. 31, 2023 $ / shares shares
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01			$ 0.01
Common stock, shares authorized (in shares) | shares		240,000,000	240,000,000	120,000,000	120,000,000
Enerplus Corporation Acquisition
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,260,680	$ 912,071	$ 2,345,940	$ 1,808,588
Crude oil revenues
Disaggregation of Revenue [Line Items]
Total revenues	848,104	647,868	1,526,955	1,298,776
Purchased crude oil sales
Disaggregation of Revenue [Line Items]
Total revenues	346,721	205,226	673,368	314,491
NGL and natural gas revenues
Disaggregation of Revenue [Line Items]
Total revenues	54,563	47,558	123,874	162,850
Purchased NGL and natural gas sales
Disaggregation of Revenue [Line Items]
Total revenues	$ 11,292	$ 11,419	$ 21,743	$ 32,471

Inventory - Components of Inven

Inventory - Components of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory
Equipment and materials	$ 30,901	$ 30,201
Crude oil inventory	49,004	42,364
Total inventory	79,905	72,565
Long-term inventory
Linefill in third-party pipelines	27,619	22,936
Total long-term inventory	27,619	22,936
Total	$ 107,524	$ 95,501

Additional Balance Sheet Info_3

Additional Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 1,291,719	$ 956,927
Less: allowance for credit losses	(15,785)	(13,813)
Total accounts receivable, net	1,275,934	943,114
Royalties payable	369,313	297,531
Revenue suspense	347,500	266,704
Production taxes payable	55,752	40,469
Total revenue and production taxes payable	772,565	604,704
Accrued oil and gas marketing	208,683	165,141
Accrued capital costs	235,139	122,260
Accrued lease operating expenses	131,648	107,606
Accrued general and administrative expenses	61,519	37,882
Current portion of asset retirement obligations	37,016	10,507
Accrued dividends	19,138	25,167
Other accrued liabilities	21,284	24,818
Total accrued liabilities	714,427	493,381
Trade and other accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	977,211	749,356
Joint interest accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 314,508	$ 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	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 165,572	$ 160,067
Total liabilities	15,371	14,926
Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,100	17,189
Total liabilities	15,371	14,926
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	46,734	42,706
Investment in unconsolidated affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	117,738	100,172
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	117,738	100,172
Total liabilities	0	0
Level 1 | Commodity derivative contracts
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	117,738	100,172
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	47,834	54,018
Total liabilities	15,371	14,926
Level 2 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,100	11,312
Total liabilities	15,371	14,926
Level 2 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	46,734	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	0	5,877
Total liabilities	0	0
Level 3 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	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 Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) $ / bbl	Jun. 30, 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	$ 400				$ 500
Proceeds from divestiture	25,000	$ 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	$ 25,000				$ 25,000
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			$ 25,000	$ 25,000

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Outstanding Commodity Derivative Instruments (Details)	1 Months Ended	6 Months Ended
	Aug. 08, 2024 $ / bbl bbl	Jun. 30, 2024 MMBTU $ / bbl $ / gal bbl
Crude oil | 2024 Two-way collar | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		3,404,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		66.76
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		82.68
Crude oil | 2024 Two-way collar | NYMEX WTI | Subsequent Event
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl	276,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)	75
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)	79.05
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		552,000
Weighted Average Prices (in dollars per barrel / dollars per btu / dollars per gallon)		76.43
Crude oil | 2025 Two-way collars | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		3,006,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		63.04
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		80.17
Crude oil | 2025 Two-way collars | NYMEX WTI | Subsequent Event
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl	1,372,000
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)	65.98
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)	76.99
Crude oil | 2025 Three-way collars | 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 collars | NYMEX WTI
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl		1,175,000
Weighted Average Prices, Sub-Floor (in usd per bbl)		53.85
Weighted Average Prices, Floor (in dollars per barrel / dollars per btu)		68.85
Weighted Average Prices, Ceiling (in dollars per barrel / dollars per btu)		80.19
Crude oil | 2026 Three-way collars | NYMEX WTI | Subsequent Event
Derivative [Line Items]
Volumes (in Bbls / in Gallons) | bbl	1,365,000
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)	79.62
Natural gas | 2025 Fixed price swaps | NYMEX HH
Derivative [Line Items]
Volumes (in MMBtu) | MMBTU		4,301,600
Weighted Average Prices (in dollars per barrel / dollars per btu / dollars per gallon) | $ / gal		3.75

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets, gross amount	$ 80,707	$ 85,990
Divestitures | Primary Permian Basin Sale
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contingent consideration	46,700	42,700
Contingent consideration, current	24,200	22,600
Contingent consideration, noncurrent	$ 22,500	20,100
Commodity derivatives (buy/sell transportation contracts)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets, gross amount		5,877
Commodity derivatives (buy/sell transportation contracts) | Derivative instruments — current liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets, gross amount		$ 5,900

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gains and Losses from Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative [Line Items]
Net gain (loss) on derivative instruments	$ 4,608	$ 29,518	$ (22,969)	$ 96,452
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gain (loss) on derivative instruments	Net gain (loss) on derivative instruments	Net gain (loss) on derivative instruments	Net gain (loss) on derivative instruments
Commodity derivatives
Derivative [Line Items]
Net gain (loss) on derivative instruments	$ 3,954	$ 29,740	$ (26,997)	$ 95,580
Commodity derivatives (buy/sell transportation contracts)
Derivative [Line Items]
Net gain (loss) on derivative instruments	(2,647)	7,123	(5,877)	18,279
Contingent consideration
Derivative [Line Items]
Net gain (loss) on derivative instruments	$ 654	$ (222)	$ 4,028	$ 872

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	$ 80,707	$ 85,990
Derivative liabilities, gross amount	48,244	41,021
Derivative assets, gross amounts offset	(32,873)	(26,095)
Derivative liabilities, gross amounts offset	(32,873)	(26,095)
Derivative assets, net amount	47,834	59,895
Derivative liabilities, net amount	15,371	14,926
Commodity derivatives | Derivative instruments — current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	14,066	20,647
Derivative assets, gross amounts offset	(12,966)	(11,769)
Derivative assets, net amount	1,100	8,878
Commodity derivatives | Derivative instruments — non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	19,907	16,760
Derivative assets, gross amounts offset	(19,907)	(14,326)
Derivative assets, net amount	0	2,434
Commodity derivatives | Derivative instruments — current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, gross amount	26,909	25,978
Derivative liabilities, gross amounts offset	(12,966)	(11,769)
Derivative liabilities, net amount	13,943	14,209
Commodity derivatives | Derivative instruments — non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, gross amount	21,335	15,043
Derivative liabilities, gross amounts offset	(19,907)	(14,326)
Derivative liabilities, net amount	1,428	717
Contingent consideration | Derivative instruments — current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	24,192	22,614
Derivative assets, gross amounts offset	0	0
Derivative assets, net amount	24,192	22,614
Contingent consideration | Derivative instruments — non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount	22,542	20,092
Derivative assets, gross amounts offset	0	0
Derivative assets, net amount	$ 22,542	20,092
Commodity derivatives (buy/sell transportation contracts)
Derivatives, Fair Value [Line Items]
Derivative assets, gross amount		5,877
Derivative assets, gross amounts offset		0
Derivative assets, net amount		$ 5,877

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Proved oil and gas properties	$ 11,119,012	$ 6,220,766
Less: Accumulated depletion	(1,420,871)	(1,035,393)
Proved oil and gas properties, net	9,698,141	5,185,373
Unproved oil and gas properties	1,018,722	99,477
Other property and equipment	57,327	49,051
Less: Accumulated depreciation	(21,140)	(19,223)
Other property and equipment, net	36,187	29,828
Total property, plant and equipment, net	$ 10,753,050	$ 5,314,678

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) a in Thousands, $ in Thousands	May 31, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	May 22, 2023 USD ($) a	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 539,793	$ 0
Williston Basin
Business Acquisition [Line Items]
Cash paid		$ 361,609
Estimated fair value		361,609
Goodwill		0
Area of land | a			62
Total consideration transferred			$ 375,000
Security deposit		37,500
Payments for asset acquisitions		324,100
Bargain purchase gain		$ 0
Enerplus Corporation Acquisition
Business Acquisition [Line Items]
Shares issued (in shares) | shares	20,680,097
Cash paid	$ 375,813
Estimated fair value	4,071,470
Goodwill	539,793
Goodwill which is deductible for income tax purposes	0
Total consideration transferred	$ 4,611,263

Acquisitions - Consideration Tr

Acquisitions - Consideration Transferred (Details) $ / shares in Units, $ in Thousands	May 31, 2024 USD ($) $ / shares shares	Feb. 21, 2024 $ / shares
Business Acquisition [Line Items]
Cash paid to settle Enerplus equity-based compensation awards	$ 102,393
Cash paid to settle Enerplus credit facility	395,000
Cash paid for retention bonus to Enerplus employees	5,920
Enerplus Corporation Acquisition
Business Acquisition [Line Items]
Common stock issued to Enerplus shareholders	3,732,137
Cash paid to Enerplus shareholders	375,813
Cash paid to settle Enerplus equity-based compensation awards	102,400
Cash paid to settle Enerplus credit facility	395,000
Cash paid for retention bonus to Enerplus employees	5,900
Total consideration transferred	$ 4,611,263
Shares issued (in shares) | shares	20,680,097
Conversion ratio		0.10125
Cash paid per share (in dollars per share) | $ / shares		$ 1.84
Share price (in dollars per share) | $ / shares	$ 180.47

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Thousands	May 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Liabilities assumed:
Goodwill acquired			$ 539,793	$ 0
Enerplus Corporation Acquisition
Business Combination Segment Allocation [Line Items]
Cash consideration transferred	$ 375,813
Assets acquired:
Cash and cash equivalents	239,921
Accounts receivable, net	281,492
Inventory	5,701
Prepaid expenses	16,323
Oil and gas properties	5,253,860
Other property and equipment	6,812
Long-term inventory	8,636
Operating right-of-use assets	42,954
Other assets	1,049
Total assets acquired	5,856,748
Liabilities assumed:
Accounts payable	1,965
Revenues and production taxes payable	199,706
Accrued liabilities	186,334
Current portion of long-term debt	60,063
Current operating lease liabilities	27,420
Deferred tax liabilities	1,179,200
Asset retirement obligations	115,056
Operating lease liabilities	15,534
Total liabilities assumed	1,785,278
Net assets acquired	4,071,470
Goodwill acquired	539,793
Purchase price consideration	$ 4,611,263
Williston Basin
Business Combination Segment Allocation [Line Items]
Cash consideration transferred		$ 361,609
Assets acquired:
Inventory		1,844
Oil and gas properties		367,672
Total assets acquired		369,516
Liabilities assumed:
Revenues and production taxes payable		1,136
Asset retirement obligations		6,771
Total liabilities assumed		7,907
Net assets acquired		361,609
Goodwill acquired		$ 0

Acquisitions - Schedule of Post

Acquisitions - Schedule of Post-Merger Operating Results (Details) - Enerplus Corporation Acquisition - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Business Acquisition [Line Items]
Revenues	$ 132,036	$ 132,036
Income before income taxes	$ 15,131	$ 15,131

Acquisitions - Schedule of Pro

Acquisitions - Schedule of Pro Forma Information (Details) - Enerplus Corporation Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Revenues	$ 1,529,346	$ 1,236,247	$ 2,947,425	$ 2,518,005
Net income	$ 315,626	$ 263,987	$ 574,643	$ 595,469
Basic (in dollars per share)	$ 5.05	$ 4.25	$ 9.23	$ 9.57
Diluted (in dollars per share)	4.95	4.12	9.04	9.31
Net income attributable to Chord per share:
Basic (in dollars per share)	5.05	4.25	9.23	9.57
Diluted (in dollars per share)	$ 4.95	$ 4.12	$ 9.04	$ 9.31

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 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	$ 18.2	$ 20.4	$ 12.1
Divestitures | Non-Core Properties, Williston Basin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds received			39.1
Pre-tax net loss on sale			8.4
Discontinued Operations, Held-for-Sale | Non-Core Properties, 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		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated affiliate, fair value	$ 117,738		$ 117,738		$ 100,172
Income from equity method investments	5,862	$ 10,126	22,158	$ 7,910
OMP Merger
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated affiliate, fair value	117,700		117,700		$ 100,200
Unconsolidated affiliate, unrealized gain	3,600	6,800	17,600	1,100
Unconsolidated affiliate, realized gain	$ 2,300	$ 3,000	$ 4,600	$ 6,000
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	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less: unamortized deferred financing costs	$ (3,254)	$ (4,098)
Total debt, net	1,031,809	395,902
Less: current portion of long-term debt, net	(60,063)	0
Long-term debt	971,746	395,902
Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	575,000	0
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	400,000	400,000
Enerplus Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 60,063	$ 0

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)			3 Months Ended		6 Months Ended
	Jul. 02, 2024	May 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Cash paid to settle Enerplus credit facility		$ 395,000,000
Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross			$ 575,000,000		$ 575,000,000		$ 0
Line of credit facility, remaining borrowing capacity			894,800,000		894,800,000		991,100,000
Weighted average interest rate (as a percent)				0%		0%
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross			$ 400,000,000		$ 400,000,000		400,000,000
Stated interest rate (as a percent)			6.375%		6.375%
Senior Notes | Level 1
Debt Instrument [Line Items]
Long-term debt, fair value			$ 399,900,000		$ 399,900,000		400,000,000
Enerplus Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross			60,063,000		60,063,000		0
Stated interest rate (as a percent)		3.79%
Assumed debt		$ 63,000,000
Enerplus Senior Notes | Level 2
Debt Instrument [Line Items]
Long-term debt, fair value			$ 60,300,000		$ 60,300,000
Enerplus Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Repayments of assumed debt	$ 63,000,000
Payments for accrued interest on assumed debt	$ 800,000
Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)			7.53%		7.53%
Amount borrowed during the period				0%		0%
Credit Facility | Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing base		3,000,000,000
Long-term debt, gross			$ 575,000,000		$ 575,000,000		0
Letters of credit outstanding			$ 30,200,000		$ 30,200,000		$ 8,900,000
Credit Facility | Elected Commitments
Debt Instrument [Line Items]
Credit facility borrowing base		$ 1,500,000,000
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	6 Months Ended
	Jun. 30, 2024 USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of period	$ 165,546
Liabilities assumed in Arrangement	138,489
Liabilities incurred during period	1,888
Liabilities settled during period	(891)
Liabilities settled through divestitures	(244)
Accretion expense during period	6,451
Revisions to estimates	1,594
Balance at end of period	$ 312,833

Asset Retirement Obligations _2

Asset Retirement Obligations - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]
Current portion of asset retirement obligations	$ 37,016	$ 10,507

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 31, 2024
Income Tax Contingency [Line Items]
Effective tax rate (as a percent)	26.80%	24.40%	24.70%	23.90%
Enerplus Corporation Acquisition
Income Tax Contingency [Line Items]
Deferred tax liabilities					$ 1,179,200

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid to settle legacy Enerplus equity-based compensation awards	$ 102,393
Equity-Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 5,400	$ 15,300	$ 10,100	$ 27,200
Liability-Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 0	$ 0	$ 0	$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)				139,578
Weighted average grant date fair value (in dollars per share)				$ 165.85
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
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		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 - Narrativ

Stockholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands				3 Months Ended				6 Months Ended
	Aug. 07, 2024 $ / shares	May 31, 2024 shares	Feb. 21, 2024 $ / shares	Jun. 30, 2024 USD ($) $ / shares shares	Mar. 31, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	May 14, 2024 shares	May 13, 2024 shares	Dec. 31, 2023 $ / shares shares
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares)				240,000,000				240,000,000		240,000,000	120,000,000	120,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01				$ 0.01				$ 0.01
Dividends declared (in dollars per share) | $ / shares				$ 2.94	$ 3.25	$ 3.22	$ 4.80	$ 6.19	$ 8.02
Repurchase of common stock (in shares)								558,579	319,458
Repurchase of common stock, average cost (in dollars per share) | $ / shares								$ 164.23	$ 143.41
Share repurchases, total cost | $				$ 61,747	$ 29,999	$ 30,815	$ 15,003	$ 91,700	$ 45,800
Stock repurchase program, remaining authorized repurchase amount | $				591,300				591,300
Stock repurchase program, authorized amount | $				$ 750,000				$ 750,000
Warrants outstanding (in shares)				2,161,803,000				2,161,803,000
Warrants exercised (in shares)				650,695		26,488		1,070,851	109,402
Enerplus Corporation Acquisition
Equity, Class of Treasury Stock [Line Items]
Conversion ratio			0.10125
Shares issued (in shares)		20,680,097
Warrant Exercise Price One
Equity, Class of Treasury Stock [Line Items]
Warrants outstanding (in shares)				432,558,000				432,558,000
Exercise price (in dollars per share) | $ / shares				$ 75.57				$ 75.57
Warrant Exercise Price Two
Equity, Class of Treasury Stock [Line Items]
Warrants outstanding (in shares)				774,327,000				774,327,000
Exercise price (in dollars per share) | $ / shares				$ 116.37				$ 116.37
Warrant Exercise Price Three
Equity, Class of Treasury Stock [Line Items]
Warrants outstanding (in shares)				954,918,000				954,918,000
Exercise price (in dollars per share) | $ / shares				$ 133.70				$ 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 | $				$ 1,900		$ 3,800		$ 4,300	$ 8,800
Subsequent Event | Base-Plus-Variable Cash Dividend
Equity, Class of Treasury Stock [Line Items]
Dividends declared (in dollars per share) | $ / shares	$ 2.52

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Payable (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 2.94	$ 3.25	$ 3.22	$ 4.80	$ 6.19	$ 8.02
Dividends payable	$ 124,708	$ 137,541	$ 137,507	$ 204,884	$ 262,249	$ 342,391
Base
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 1.25	$ 1.25	$ 1.25	$ 1.25	$ 2.50	$ 2.50
Variable
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 1.69	$ 2	$ 1.97	$ 3.55	$ 3.69	$ 5.52

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 213,361	$ 216,071	$ 412,715	$ 513,070
Distributed and undistributed earnings allocated to participating securities	(1,032)	(726)	(1,824)	(1,453)
Net income attributable to common stockholders (basic)	212,329	215,345	410,891	511,617
Reallocation of distributed and undistributed earnings allocated to participating securities	10	12	17	20
Net income attributable to common stockholders (diluted)	$ 212,339	$ 215,357	$ 410,908	$ 511,637
Weighted average common shares outstanding, basic (in shares)	48,665	41,494	45,048	41,531
Dilutive effect of share-based awards (in shares)	375	933	438	917
Dilutive effect of warrants (in shares)	876	959	827	819
Weighted average common shares outstanding, diluted (in shares)	49,916	43,386	46,313	43,267
Basic earnings per share (in dollars per share)	$ 4.36	$ 5.19	$ 9.12	$ 12.32
Diluted earnings per share (in dollars per share)	$ 4.25	$ 4.96	$ 8.87	$ 11.83
Anti-dilutive weighted average common shares (in shares)	1,818	4,118	2,028	4,340

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Surety Bond
Commitments and Contingencies [Line Items]
Off-balance sheet commitments	$ 73.9
Credit Facility | Credit Facility
Commitments and Contingencies [Line Items]
Letters of credit outstanding	$ 30.2	$ 8.9

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	May 31, 2024
Lessee, Lease, Description [Line Items]
Asset impairment charge	$ 0	$ 0	$ 17,500,000
Equipment
Lessee, Lease, Description [Line Items]
Operating lease liabilities				$ 29,000,000
Building
Lessee, Lease, Description [Line Items]
Operating lease liabilities				7,500,000
Vehicles
Lessee, Lease, Description [Line Items]
Operating lease liabilities				$ 6,500,000