Permian Resources (PR) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Entity Address, Address Line Two	Suite 1000
Entity Address, Address Line One	300 N. Marienfeld St.
Entity Address, City or Town	Midland
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79701
Entity Common Stock, Shares Outstanding		769,949,894
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-37697
Entity Registrant Name	PERMIAN RESOURCES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-5381253
City Area Code	432
Local Phone Number	695-4222
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	PR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001658566
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 12,692	$ 73,290
Accounts receivable, net	557,243	481,060
Derivative instruments	5,000	70,591
Prepaid and other current assets	32,442	25,451
Total current assets	607,377	650,392
Oil and natural gas properties, successful efforts method
Unproved properties	2,476,541	2,401,317
Proved properties	15,492,619	15,036,687
Accumulated depreciation, depletion and amortization	(3,808,590)	(3,401,895)
Total oil and natural gas properties, net	14,160,570	14,036,109
Other property and equipment, net	45,007	43,647
Total property and equipment, net	14,205,577	14,079,756
Noncurrent assets
Operating lease right-of-use assets	123,147	59,359
Other noncurrent assets	145,208	176,071
TOTAL ASSETS	15,081,309	14,965,578
Current liabilities
Accounts payable and accrued expenses	977,114	1,167,525
Operating Lease, Liability, Current	53,172	33,006
Derivative instruments	33,687	2,725
Other current liabilities	48,059	38,297
Total current liabilities	1,112,032	1,241,553
Noncurrent liabilities
Long-term debt, net	3,909,418	3,848,781
Asset retirement obligations	128,160	121,417
Deferred income taxes	441,839	422,627
Operating Lease, Liability, Noncurrent	71,898	28,302
Other Liabilities, Noncurrent	69,766	73,150
Total liabilities	5,733,113	5,735,830
Commitments and contingencies (Note 12)
Shareholders’ equity
Additional paid-in capital	6,331,073	5,766,881
Retained earnings (accumulated deficit)	626,930	569,139
Total shareholders' equity	6,958,081	6,336,097
Noncontrolling interest	2,390,115	2,893,651
Total equity	9,348,196	9,229,748
TOTAL LIABILITIES AND EQUITY	15,081,309	14,965,578
Class A
Shareholders’ equity
Common stock	59	54
Class C
Shareholders’ equity
Common stock	$ 19	$ 23

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating revenues
Oil and gas sales	$ 1,242,999	$ 616,268
Operating expenses
Lease operating expenses	168,671	74,532
Severance and ad valorem taxes	96,166	48,509
Gathering, processing and transportation expenses	39,055	15,482
Depreciation, depletion and amortization	410,179	188,219
General and administrative expenses	37,373	35,474
Merger and integration expense	11,123	13,299
Impairment and abandonment expense	20	245
Exploration and other expenses	11,488	4,374
Total operating expenses	774,075	380,134
Net gain (loss) on sale of long-lived assets	112	66
Income from operations	469,036	236,200
Other income (expense)
Interest expense	(72,587)	(36,777)
Net gain (loss) on derivative instruments	(121,129)	54,512
Other income (expense)	3,232	120
Total other income (expense)	(190,484)	17,855
Income before income taxes	278,552	254,055
Income tax expense	(48,957)	(34,254)
Net income	229,595	219,801
Less: Net income attributable to noncontrolling interest	(83,020)	(117,681)
Net income attributable to Class A Common Stock	$ 146,575	$ 102,120
Income per share of Class A Common Stock:
Basic (USD per share)	$ 0.27	$ 0.35
Diluted (USD per share)	$ 0.25	$ 0.31

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)		Mar. 31, 2023 USD ($)
Cash flows from operating activities:
Net income	$ 229,595		$ 219,801
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	410,179		188,219
Stock-based compensation expense	9,631		17,871
Impairment and abandonment expense	20		245
Deferred tax expense	46,979		33,454
Net (gain) loss on sale of long-lived assets	(112)		(66)
Non-cash portion of derivative (gain) loss	128,474		(14,777)
Amortization of debt issuance costs, discount and premium	1,531		2,796
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(85,138)		(1,503)
(Increase) decrease in prepaid and other assets	5,350		(1,016)
Increase (decrease) in accounts payable and other liabilities	(98,911)		(6,811)
Net cash provided by operating activities	647,598		438,213
Cash flows from investing activities:
Acquisition of oil and natural gas properties, net	(97,019)		(100,755)
Drilling and development capital expenditures	(519,623)		(315,285)
Purchases of other property and equipment	(2,772)		(1,204)
Contingent considerations received related to divestiture	0		60,000
Proceeds from sales of oil and natural gas properties	66		65,116
Net cash used in investing activities	(619,348)		(292,128)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility	220,000		160,000
Repayment of borrowings under revolving credit facility	(160,000)		(260,000)
Debt issuance costs	(1,880)		0
Proceeds from exercise of stock options	58		231
Share repurchases	(31,492)		(61,578)
Dividends paid	(87,194)		(15,192)
Distributions paid to noncontrolling interest owners	(28,327)		(13,324)
Net cash provided by (used in) financing activities	(88,835)		(189,863)
Net increase (decrease) in cash, cash equivalents and restricted cash	(60,585)		(43,778)
Cash, cash equivalents and restricted cash, beginning of period	73,864		69,932
Cash, cash equivalents and restricted cash, end of period	13,279		26,154
Supplemental cash flow information
Cash paid for interest	92,331		48,521
Cash paid for income taxes	0		800
Supplemental non-cash activity
Accrued capital expenditures included in accounts payable and accrued expenses	258,587		215,709
Deferred tax liability assumed in asset acquisition	0		24,801
Asset retirement obligations incurred, including revisions to estimates	7,147		601
Dividends payable	5,093		1,535
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	12,692		25,593
Restricted cash	587	[1]	561	[1]
Total cash, cash equivalents and restricted cash	$ 13,279		$ 26,154
[1]Included in Prepaid and other current assets as of March 31, 2024 and 2023 in the consolidated balance sheets.

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A	Class C	Total Shareholders’ Equity	Common Stock Class A	Common Stock Class C	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Noncontrolling Interest
Balance at beginning of period at Dec. 31, 2022	$ 5,656,296			$ 2,935,748	$ 30	$ 27	$ 2,698,465	$ 237,226	$ 2,720,548
Shares issued, beginning (in shares) at Dec. 31, 2022					298,640,000	269,300,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)					359,000
Restricted stock forfeited (in shares)					(298,000)
Share repurchases (in shares)					(3,384,000)
Share repurchases - Class A	$ (32,160)			(32,160)			(32,160)
Share repurchase (in shares)	(2,800,000)					(2,750,000)
Share repurchases - Class C	$ (29,418)								(29,418)
Issuance of Common Stock under Employee Stock Purchase Plan (in shares)					56,000
Issuance of Common Stock under Employee Stock Purchase Plan	241			241			241
Performance stock vested and issued (in shares)					5,406,000
Stock-based compensation	17,871			17,871			17,871
Stock option exercises (in shares)					39,000
Stock option exercises	231			231			231
Dividends	(15,669)			(15,669)				(15,669)
Distributions to noncontrolling interest owners	(13,950)								(13,950)
Conversion of common shares from Class C to Class A, net of tax (in shares)					20,906,000	(20,906,000)
Conversion of common shares from Class C to Class A, net of tax	2,416			217,280	$ 2	$ (2)	217,280		(214,864)
Equity impact from transactions effecting Common Units, net of tax expense	3,027			(10,400)			(10,400)		13,427
Net income	219,801			102,120				102,120	117,681
Shares issued, ending (in shares) at Mar. 31, 2023					321,724,000	245,644,000
Balance at end of period at Mar. 31, 2023	5,808,686			3,215,262	$ 32	$ 25	2,891,528	323,677	2,593,424
Balance at beginning of period at Dec. 31, 2023	$ 9,229,748			6,336,097	$ 54	$ 23	5,766,881	569,139	2,893,651
Shares issued, beginning (in shares) at Dec. 31, 2023		544,610,984	230,962,833		544,611,000	230,963,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)					1,713,000
Restricted stock issued					$ 1		(1)
Restricted stock forfeited (in shares)					(65,000)
Share repurchase (in shares)	(2,000,000)					(2,000,000)
Share repurchases - Class C	$ (31,492)								(31,492)
Stock-based compensation	$ 9,631			9,631			9,631
Stock option exercises (in shares)	7,500				7,000
Stock option exercises	$ 58			58			58
Dividends	(88,784)			(88,784)				(88,784)
Distributions to noncontrolling interest owners	(28,327)								(28,327)
Conversion of common shares from Class C to Class A, net of tax (in shares)					41,356,000	(41,356,000)
Conversion of common shares from Class C to Class A, net of tax	26,277			559,584	$ 4	$ (4)	559,584		(533,307)
Equity impact from transactions effecting Common Units, net of tax expense	1,490			(5,080)			(5,080)		6,570
Net income	229,595			146,575				146,575	83,020
Shares issued, ending (in shares) at Mar. 31, 2024		587,622,487	187,607,059		587,622,000	187,607,000
Balance at end of period at Mar. 31, 2024	$ 9,348,196			$ 6,958,081	$ 59	$ 19	$ 6,331,073	$ 626,930	$ 2,390,115

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Equity impact, tax expense (benefit)	$ 1,500	$ (3,000)

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical)	Mar. 31, 2024 $ / shares shares
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001
Common stock, shares authorized (in shares)	1,500,000,000
Class A
Common stock, shares issued (in shares)	587,622,487
Common stock, shares outstanding (in shares)	582,262,542
Class C
Common stock, shares issued (in shares)	187,607,059
Common stock, shares outstanding (in shares)	187,607,059

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 1—Basis of Presentation and Summary of Significant Accounting Policies Description of Business Permian Resources Corporation is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of crude oil and associated liquids-rich natural gas reserves. The Company’s assets and operations are primarily concentrated in the core of the Permian Basin, and its properties consist of large, contiguous acreage blocks located in West Texas and New Mexico. Unless otherwise specified or the context otherwise requires, all references in these notes to “Permian Resources” or the “Company” are to Permian Resources Corporation and its consolidated subsidiaries, including Permian Resources Operating, LLC (“OpCo”). Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, certain disclosures normally included in an Annual Report on Form 10-K have been omitted. The consolidated financial statements and related notes included in this Quarterly Report should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2023 (the “2023 Annual Report”). Except as disclosed herein, there have been no material changes to the information disclosed in the notes to the consolidated financial statements included in the Company’s 2023 Annual Report. In the opinion of management, all normal, recurring adjustments and accruals considered necessary to present fairly, in all material respects, the Company’s interim financial results have been included. Operating results for the periods presented are not necessarily indicative of expected results for the full year. The consolidated financial statements include the accounts of the Company and its subsidiary OpCo, and OpCo’s wholly-owned subsidiaries. Noncontrolling interest represents third-party ownership in OpCo and is presented as a component of equity. Refer to Note 9—Shareholders’ Equity and Noncontrolling Interest for a discussion of noncontrolling interest. Use of Estimates The preparation of the Company’s consolidated financial statements requires the Company’s management to make various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of commitments and contingencies. Changes in these assumptions, judgments and estimates will occur as a result of the passage of time and the occurrence of future events, and accordingly, actual results could differ from amounts previously established. Additionally, the prices received for oil, natural gas and NGL production can heavily influence the Company’s assumptions, judgments and estimates, and continued volatility of oil and gas prices could have a significant impact on the Company’s estimates. The more significant areas requiring the use of assumptions, judgments and estimates include: (i) oil and natural gas reserves; (ii) cash flow estimates used in impairment tests for long-lived assets; (iii) impairment expense of unproved properties; (iv) depreciation, depletion and amortization; (v) asset retirement obligations; (vi) determining fair value and allocating purchase price in connection with business combinations and asset acquisitions; (vii) accrued revenues and related receivables; (viii) accrued liabilities; (ix) derivative valuations; (x) deferred income taxes; and (xi) determining the fair values of certain stock-based compensation awards. Leases The Company has operating leases for drilling rig contracts, office rental agreements and other wellhead equipment and a financing lease for a ground lease for its office building in Midland, Texas. During the three months ended March 31, 2024, the Company entered into two drilling rig contracts each with lease terms of three-years. A lease right-of-use asset and related liability were recorded for these drilling rig agreements based on the present value of the future lease payments of the drilling rigs over the lease terms. As of March 31, 2024, the Company had recorded in aggregate a $21.9 million current operating lease liability and a $43.2 million noncurrent operating lease liability related to these drilling rig agreements. The following table provides additional information related to the Company’s lease assets and liabilities as presented on balance sheet for the periods presented: (in thousands) Balance Sheet Classification March 31, 2024 December 31, 2023 Assets Operating right-of-use assets Operating lease right-of-use asset $ 123,147 $ 59,359 Finance right-of-use asset Other noncurrent assets 15,150 15,189 Liabilities Current Operating lease liabilities Operating lease liabilities $ 53,172 $ 33,006 Finance lease liability Other current liabilities 758 753 Noncurrent Operating lease liabilities Operating lease liabilities $ 71,898 $ 28,302 Finance lease liability Other noncurrent liabilities 14,909 14,821 There have been no other significant changes in leases during the three months ended March 31, 2024. Refer to Note 16—Leases in the notes to the consolidated financial statements in Part II, Item 8 of the Company’s 2023 Annual Report for additional information on the Company’s operating and financing leases. Income Taxes The Company is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of OpCo, as well as any stand-alone income or loss generated by the Company. OpCo is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, OpCo is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by OpCo is passed through to and included in the taxable income or loss of its members, including the Company, on a pro rata basis.

Business Combinations and Asset

Business Combinations and Asset Acquisitions	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Note 2—Acquisitions and Divestitures Earthstone Merger On November 1, 2023, the Company completed its merger (the “Earthstone Merger”) with Earthstone Energy, Inc. (“Earthstone”). Earthstone was an independent oil and gas company engaged in the operation and development of oil and natural gas properties in the Permian Basin in both Texas and New Mexico. Refer to Note 2—Business Combinations footnote in the notes to the consolidated financial statements in Item 8 of the Company’s 2023 Annual Report for additional details regarding the Earthstone Merger. Purchase Price Allocation As of the date of this filing, the fair value of assets acquired and liabilities assumed are not complete and adjustments may be made. The Company expects to complete the purchase price allocation during the 12-month period subsequent to the Earthstone Merger closing date. There were no significant adjustments to the purchase price allocation during the three months ended March 31, 2024. Supplemental Unaudited Pro Forma Financial Information The results of Earthstone’s operations have been included in the Company’s consolidated financial statements since November 1, 2023, the effective date of the Earthstone Merger. The following supplemental unaudited pro forma financial information (“pro forma information”) for the three months ended March 31, 2023 has been prepared from the respective historical consolidated financial statements of the Company and Earthstone and has been adjusted to reflect the Earthstone Merger as if it had occurred on January 1, 2023. The pro forma information is not necessarily indicative of the results that might have occurred had the Earthstone Merger occurred in the past and is not intended to be a projection of future results. Future results may vary significantly from the results reflected in the following pro forma information. Three Months Ended March 31, 2023 Total Revenue $ 1,121,644 Net Income 149,739 Earnings per share: Basic $ 0.33 Diluted 0.29 2024 Bolt-On Acquisitions During the three months ended March 31, 2024, the Company completed multiple acquisitions of oil and natural gas properties for a cumulative adjusted purchase price of $92 million. These transactions were recorded as asset acquisitions in accordance with Accounting Standards Codifications (“ASC”) Topic 805, Business Combinations (“ASC 805”). The acquired assets consist predominately of undeveloped acreage that is directly offsetting our existing assets. 2023 Bolt-On Acquisition On February 16, 2023, the Company completed the acquisition of approximately 4,000 net leasehold acres and 3,300 net royalty acres for an unadjusted purchase price of $98 million. The acquired assets consist largely of undeveloped acreage that is contiguous to one of the Company’s existing core acreage blocks in Lea County, New Mexico. The acquisition was recorded as an asset acquisition in accordance with ASC 805. Total consideration paid was $107.3 million after settlement statement adjustments, of which $60.8 million was allocated to proved properties and $59.5 million to unproved properties on a relative fair value basis, $9.8 million to net working capital (including $11.3 million in cash acquired), less a deferred tax liability assumed of $22.8 million. As of March 31, 2024, the Company incurred $1.7 million in direct transaction costs related to this purchase that have been capitalized as acquisition costs. 2023 SWD Divestiture

Accounts Receivable, Accounts P

Accounts Receivable, Accounts Payable and Accrued Expenses	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable, Accounts Payable and Accrued Expenses	Note 3—Accounts Receivable, Accounts Payable and Accrued Expenses Accounts receivable are comprised of the following: (in thousands) March 31, 2024 December 31, 2023 Accrued oil and gas sales receivable, net $ 390,421 $ 345,982 Joint interest billings, net 164,730 123,160 Accrued derivative settlements receivable 671 8,228 Other 1,421 3,690 Accounts receivable, net $ 557,243 $ 481,060 Accounts payable and accrued expenses are comprised of the following: (in thousands) March 31, 2024 December 31, 2023 Accounts payable $ 43,511 $ 94,533 Accrued capital expenditures 239,440 271,569 Revenues payable 493,841 527,470 Accrued employee compensation and benefits 14,995 29,836 Accrued interest 79,050 100,882 Accrued expenses and other 106,277 143,235 Accounts payable and accrued expenses $ 977,114 $ 1,167,525

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Note 4—Long-Term Debt The following table provides information about the Company’s long-term debt as of the dates indicated: (in thousands) March 31, 2024 December 31, 2023 Credit Facility due 2027 $ 60,000 $ — Senior Notes 5.375% Senior Notes due 2026 289,448 289,448 7.75% Senior Notes due 2026 300,000 300,000 6.875% Senior Notes due 2027 356,351 356,351 8.00% Senior Notes due 2027 550,000 550,000 3.25% Convertible Senior Notes due 2028 170,000 170,000 5.875% Senior Notes due 2029 700,000 700,000 9.875% Senior Notes due 2031 500,000 500,000 7.00% Senior Notes due 2032 1,000,000 1,000,000 Unamortized debt issuance costs on Senior Notes (22,340) (23,149) Unamortized debt (discount)/premium 5,959 6,131 Senior Notes, net 3,849,418 3,848,781 Total long-term debt, net $ 3,909,418 $ 3,848,781 Credit Agreement OpCo, the Company’s consolidated subsidiary, has a credit agreement with a syndicate of banks that provides for a five-year secured revolving credit facility, maturing in February 2027 (the “Credit Agreement”) that, as of March 31, 2024, had a borrowing base of $4.0 billion and elected commitments of $2.0 billion. As of March 31, 2024, the Company had $60.0 million in borrowings outstanding and $1.9 billion in available borrowing capacity, net of $5.6 million in letters of credit outstanding. The amount available to be borrowed under the Credit Agreement is equal to the lesser of (i) the borrowing base, which is set at $4.0 billion; (ii) aggregate elected commitments, which was set at $2.0 billion as of March 31, 2024; or (iii) $6.0 billion. The borrowing base is redetermined semi-annually in the spring and fall by the lenders in their sole discretion. It also allows for the Company to request two optional borrowing base redeterminations in between the scheduled redeterminations. The borrowing base depends on, among other things, the quantities of OpCo’s proved oil and natural gas reserves, estimated cash flows from those reserves, and the Company’s commodity hedge positions. Upon a redetermination of the borrowing base, if actual borrowings outstanding exceed the revised borrowing capacity, OpCo could be required to immediately repay a portion of its debt outstanding. Borrowings under the Credit Agreement are guaranteed by certain of OpCo’s subsidiaries. Refer to Note 14—Subsequent Events for additional information regarding the 2024 spring borrowing base redetermination. Borrowings under the Credit Agreement may be base rate loans or Secured Overnight Financing Rate (“SOFR”) loans. Interest is payable quarterly for base rate loans and at the end of the applicable interest period for SOFR loans. SOFR loans bear interest at SOFR plus an applicable margin ranging from 175 to 275 basis points, depending on the percentage of elected commitments utilized, plus an additional 10 basis point credit spread adjustment. Base rate loans bear interest at a rate per annum equal to the greatest of: (i) the agent bank’s prime rate; (ii) the federal funds effective rate plus 50 basis points; or (iii) the adjusted Term SOFR rate for a one-month interest period plus 100 basis points, plus an applicable margin, ranging from 75 to 175 basis points, depending on the percentage of the borrowing base utilized. OpCo also pays a commitment fee of 37.5 to 50 basis points on unused elected commitment amounts under its facility. The Credit Agreement contains restrictive covenants that limit our ability to, among other things: (i) incur additional indebtedness; (ii) make investments and loans; (iii) enter into mergers; (iv) make restricted payments; (v) repurchase or redeem junior debt; (vi) enter into commodity hedges exceeding a specified percentage of our expected production; (vii) enter into interest rate hedges exceeding a specified percentage of its outstanding indebtedness; (viii) incur liens; (ix) sell assets; and (x) engage in transactions with affiliates. The Credit Agreement also requires OpCo to maintain compliance with the following financial ratios: (i) a current ratio, which is the ratio of OpCo’s consolidated current assets (including an add back of unused commitments under the revolving credit facility and excluding non-cash derivative assets and certain restricted cash) to its consolidated current liabilities (excluding the current portion of long-term debt under the Credit Agreement and non-cash derivative liabilities), of not less than 1.0 to 1.0; and (ii) a leverage ratio, as defined within the Credit Agreement as the ratio of total funded debt to consolidated EBITDAX (as defined within the Credit Agreement) for the most recent quarter annualized, of not greater than 3.5 to 1.0. The Credit Agreement includes fall away covenants, lower interest rates and reduced collateral requirements that OpCo may elect if OpCo is assigned an Investment Grade Rating (as defined within the Credit Agreement). OpCo was in compliance with the covenants and the applicable financial ratios described above as of March 31, 2024. Convertible Senior Notes On March 19, 2021, OpCo issued $150.0 million in aggregate principal amount of 3.25% senior unsecured convertible notes due 2028 (the “Convertible Senior Notes”). On March 26, 2021, OpCo issued an additional $20.0 million of Convertible Senior Notes pursuant to the exercise of the underwriters’ over-allotment option to purchase additional Convertible Senior Notes. These issuances resulted in aggregate net proceeds to OpCo of $163.6 million, after deducting debt issuance costs of $6.4 million. Interest is payable on the Convertible Senior Notes semi-annually in arrears on each April 1 and October 1. The Convertible Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company and each of OpCo’s current subsidiaries that guarantee OpCo’s outstanding Senior Unsecured Notes. The Convertible Senior Notes will mature on April 1, 2028 unless earlier repurchased, redeemed or converted. Before January 3, 2028, noteholders have the right to convert their Convertible Senior Notes (i) upon the occurrence of certain events; (ii) if the Company’s share price exceeds 130% of the conversion price for any 20 trading days during the last 30 consecutive trading days of a calendar quarter, after June 30, 2021; or (iii) if the trading price per $1,000 principal amount of the notes is less than 98% of the Company’s share price multiplied by the conversion rate, for a 10 consecutive trading day period. In addition, after January 2, 2028, noteholders may convert their Convertible Senior Notes at any time at their election through the second scheduled trading day immediately before the April 1, 2028 maturity date. As of March 31, 2024, certain conditions have been met, and as a result, noteholders have the right to convert their Convertible Senior Notes during the second quarter of 2024. OpCo can settle conversions by paying or delivering, as applicable, cash, shares of Class A Common Stock, or a combination of cash and shares of Class A Common Stock, at OpCo’s election. The initial conversion rate was 159.2610 shares of Class A Common Stock per $1,000 principal amount of Convertible Senior Notes, which represents an initial conversion price of approximately $6.28 per share of Class A Common Stock. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events (as defined in the indenture governing the Convertible Senior Notes) which, in certain circumstances, will increase the conversion rate for a specified period of time. As of March 31, 2024, the conversion rate was adjusted to 166.7965 shares of Class A Common Stock per $1,000 principal amount of Convertible Senior Notes as a result of cash dividends and distributions paid. In the context of this debt issuance, we refer to the notes as convertible in accordance with ASC 470 - Debt. However, per the terms of the Convertible Senior Notes’ indenture, the Convertible Senior Notes were issued by OpCo and are exchangeable into shares of the Company’s Class A Common Stock. OpCo has the option to redeem, in whole or in part, all of the Convertible Senior Notes at any time on or after April 7, 2025, at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of redemption, but only if the last reported sale price per share of Class A Common Stock exceeds 130% of the conversion price (i) for any 20 trading days during the 30 consecutive trading days ending on the day immediately before the date OpCo sends the related redemption notice; and (ii) also on the trading day immediately before the date OpCo sends such notice. If certain corporate events occur, including certain business combination transactions involving the Company or OpCo or a stock de-listing with respect to the Class A Common Stock, noteholders may require OpCo to repurchase their Convertible Senior Notes at a cash repurchase price equal to the principal amount of the Convertible Senior Notes to be repurchased, plus accrued and unpaid interest as of the repurchase date. Upon an Event of Default (as defined in the indenture governing the Convertible Senior Notes), the trustee or the holders of at least 25% of the aggregate principal amount of then outstanding Convertible Senior Notes may declare the Convertible Senior Notes immediately due and payable. In addition, a default resulting from certain events of bankruptcy or insolvency with respect to the Company, OpCo or any of the subsidiary guarantors will automatically cause all outstanding Convertible Senior Notes to become due and payable. At issuance, the Company recorded a liability equal to the face value the Convertible Senior Notes, net of unamortized debt issuance costs, in Long-term debt, net in the consolidated balance sheets. As of March 31, 2024, the net liability related to the Convertible Senior Notes was $166.1 million. Capped Called Transactions In connection with the issuance of the Convertible Senior Notes in March 2021, OpCo entered into privately negotiated capped call spread transactions with option counterparties (the “Capped Call Transactions”). The Capped Call Transactions cover the aggregate number of shares of Class A Common Stock that initially underlie the Convertible Senior Notes and are expected to (i) generally reduce potential dilution to the Class A Common Stock upon a conversion of the Convertible Senior Notes, and/or; (ii) offset any cash payments OpCo is required to make in excess of the principal amount of the Convertible Senior Notes, subject to a cap. The Capped Call Transactions have an initial strike price of $6.28 per share of Class A Common Stock and an initial capped price of $8.4525 per share of Class A Common Stock, each of which are subject to certain customary adjustments upon the occurrence of certain corporate events, as defined in the capped call agreements. Senior Unsecured Notes On November 1, 2023, in connection with the Earthstone Merger, the Company entered into supplemental indentures whereby all of Earthstone’s outstanding senior notes were assumed and became the senior unsecured debt obligations of OpCo. The senior notes assumed by OpCo included $550 million of 8.00% senior notes due 2027 (the “2027 8.00% Senior Notes”) and $500 million of 9.875% senior notes due 2031 (the “2031 Senior Notes”). The Company recorded the acquired senior notes at their fair values as of the Earthstone Merger closing date, which were equal to 102.86% of par (a $15.7 million premium) for the 2027 8.00% Senior Notes and 107.37% of par (a $36.8 million premium) for the 2031 Senior Notes. Interest on the 2027 8.00% Senior Notes is paid semi-annually in arrears on April 15 and October 15 of each year and interest on the 2031 Senior Notes is paid semi-annually in arrears on January 15 and July 15 of each year. Since April 15, 2024 (for the 2027 8.00% Senior Notes) and beginning on or after July 15, 2026 (for the 2031 Senior Notes), OpCo may, on any one or more occasions, redeem all or a portion of the acquired senior notes at a redemption price decreasing annually from 106% to 100% (for the 2027 8.00% Senior Notes) and 104.94% to 100% (for the 2031 Senior Notes) of the principal amount redeemed plus accrued and unpaid interest. On September 12, 2023, OpCo issued at par $500 million of 7.00% senior notes due 2032 (the “Original 2032 Notes”) in a 144A private placement. On December 13, 2023, OpCo issued additional notes under the indenture dated September 12, 2023 that totaled an additional $500 million of 7.00% senior notes (together with the Original 2032 Notes, the “2032 Senior Notes”), which resulted in aggregate net proceeds to the Company of $982.5 million, after deducting the issuance discount of $2.5 million and debt issuance costs of $15.0 million. The 2032 Senior Notes are treated as a single series of securities and vote together as a single class, and have substantially identical terms, other than the issue date and issue price. Interest is payable on the 2032 Senior Notes semi-annually in arrears each January 15 and July 15. On or after January 15, 2027, OpCo may, on any one or more occasions, redeem all or a portion of the 2032 Senior Notes at a redemption price decreasing annually from 103.5% to 100% of the principal amount redeemed plus accrued and unpaid interest. On September 1, 2022, the Company completed its merger (the “Colgate Merger”) with Colgate Energy Partners III, LLC (“Colgate”). In connection with the Colgate Merger, the Company entered into supplemental indentures whereby all of Colgate’s outstanding senior notes were assumed and became the senior unsecured debt obligations of OpCo. The senior notes assumed by OpCo included $300 million of 7.75% senior notes due 2026 (the “2026 7.75% Senior Notes”) and $700 million of 5.875% senior notes due 2029 (the “2029 Senior Notes”). The Company recorded the acquired senior notes at their fair values as of the Colgate Merger closing date on September 1, 2022, which were equal to 100% of par for the 2026 7.75% Senior Notes and 92.96% of par (a $49.3 million debt discount) for the 2029 Senior Notes. Interest on the 2026 7.75% Senior Notes is paid semi-annually each February 15 and August 15 and interest on the 2029 Senior Notes is paid semi-annually each January 1 and July 1. Since February 15, 2024 (for the 2026 7.75% Senior Notes) and beginning on or after July 1, 2024 (for the 2029 Senior Notes), OpCo may, on any one or more occasions, redeem all or a portion of the acquired senior notes at a redemption price decreasing annually from 103.88% to 100% (for the 2026 7.75% Senior Notes) and 102.94% to 100% (for the 2029 Senior Notes) of the principal amount redeemed plus accrued and unpaid interest. On March 15, 2019, OpCo issued $500.0 million of 6.875% senior unsecured notes due 2027 (the “2027 6.875% Senior Notes”) in a 144A private placement at a price equal to 99.235% of par that resulted in net proceeds to OpCo of $489.0 million, after deducting the original issuance discount of $3.8 million and debt issuance costs of $7.2 million. Interest is payable on the 2027 6.875% Senior Notes semi-annually in arrears each April 1 and October 1. Since April 1, 2022, OpCo may, on any one or more occasions, redeem all or a portion of the 2027 6.875% Senior Notes at a redemption price decreasing annually from 103.44% to 100% of the principal amount redeemed plus accrued and unpaid interest. On November 30, 2017, OpCo issued at par $400.0 million of 5.375% senior unsecured notes due 2026 (the “2026 5.375% Senior Notes” and collectively with the 2032 Senior Notes, 2031 Senior Notes, 2027 8.00% Senior Notes, 2027 6.875% Senior Notes, 2029 Senior Notes and the 2026 7.75% Senior Notes, the “Senior Unsecured Notes”) in a 144A private placement that resulted in net proceeds to OpCo of $391.0 million, after deducting $9.0 million in debt issuance costs. Interest is payable on the 2026 5.375% Senior Notes semi-annually in arrears each January 15 and July 15. Since January 15, 2023, OpCo may, on any one or more occasions, redeem all or a portion of the 2026 5.375% Senior Notes at a redemption price of 100% of the principal amount redeemed plus accrued and unpaid interest. In May 2020, $110.6 million aggregate principal amount of the 2026 5.375% Senior Notes and $143.7 million aggregate principal amount of the 2027 6.875% Senior Notes were validly tendered and exchanged by certain eligible bondholders for consideration consisting of $127.1 million aggregate principal amount of 8.00% second lien senior secured notes, which were fully redeemed at par in connection with the Convertible Senior Notes issuance during the second quarter of 2021. As of March 31, 2024, the remaining aggregate principal amount of 2027 6.875% Senior Notes and 2026 5.375% Senior Notes outstanding was $356.4 million and $289.4 million, respectively. Refer to Note 14—Subsequent Events for additional information regarding the redemption of the remaining 2027 6.875% Senior Notes that occurred subsequent to the period ended March 31, 2024. The Senior Unsecured Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company and each of OpCo’s current subsidiaries that guarantee borrowings under OpCo’s Credit Agreement. At any time prior to July 1, 2024 (for the 2029 Senior Notes), July 15, 2026 (for the 2031 Senior Notes) and January 15, 2027 (for the 2032 Senior Notes), the “Optional Redemption Dates,” OpCo may, on any one or more occasions, redeem up to 35% (40% for the 2032 Senior Notes) of the aggregate principal amount of each series of Senior Unsecured Notes with an amount of cash not greater than the net cash proceeds of certain equity offerings at a redemption price equal to 108.000% (for the 2027 8.00% Senior Notes), 105.875% (for the 2029 Senior Notes), 109.875% (for the 2031 Senior Notes) and 107.000% (for the 2032 Senior Notes) of the principal amount of the Senior Unsecured Notes of the applicable series redeemed, plus accrued and unpaid interest to the date of redemption; provided that at least 65% (60% for the 2032 Senior Notes) of the aggregate principal amount of each such series of Senior Unsecured Notes remains outstanding immediately after such redemption, and the redemption occurs within 180 days of the closing date of such equity offering. At any time prior to Optional Redemption Dates, OpCo may, on any one or more occasions, redeem all or a part of the Senior Unsecured Notes at a redemption price equal to 100% of the principal amount of the Senior Unsecured Notes redeemed, plus a “make-whole” premium, and any accrued and unpaid interest as of the date of redemption. On and after the Optional Redemption Dates, OpCo may redeem the Senior Unsecured Notes, in whole or in part, at redemption prices expressed as percentages of principal amount plus accrued and unpaid interest to the redemption date. If OpCo experiences certain defined changes of control accompanied by a ratings decline, each holder of the Senior Unsecured Notes may require OpCo to repurchase all or a portion of its Senior Unsecured Notes for cash at a price equal to 101% of the aggregate principal amount of such Senior Unsecured Notes, plus any accrued but unpaid interest to the date of repurchase. The indentures governing the Senior Unsecured Notes contain covenants that, among other things and subject to certain exceptions and qualifications, limit OpCo’s ability and the ability of OpCo’s restricted subsidiaries to: (i) incur or guarantee additional indebtedness or issue certain types of preferred stock; (ii) pay dividends on capital stock or redeem, repurchase or retire capital stock or subordinated indebtedness; (iii) transfer or sell assets; (iv) make investments; (v) create certain liens; (vi) enter into agreements that restrict dividends or other payments from their subsidiaries to them; (vii) consolidate, merge or transfer all or substantially all of their assets; (viii) engage in transactions with affiliates; and (ix) create unrestricted subsidiaries. OpCo was in compliance with these covenants as of March 31, 2024. Upon an Event of Default (as defined in the indentures governing the Senior Unsecured Notes), the trustee or the holders of at least 25% (or in the case of the 2026 7.75% Senior Notes and the 2029 Senior Notes, 30%) of the aggregate principal amount of then outstanding Senior Unsecured Notes may declare the Senior Unsecured Notes immediately due and payable. In addition, a default resulting from certain events of bankruptcy or insolvency with respect to OpCo, any restricted subsidiary of OpCo that is a significant subsidiary, or any group of restricted subsidiaries that, taken together, would constitute a significant subsidiary, will automatically cause all outstanding Senior Unsecured Notes to become due and payable.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Note 5—Asset Retirement Obligations The following table summarizes changes in the Company’s asset retirement obligations (“ARO”) associated with its working interests in oil and gas properties for the three months ended March 31, 2024: (in thousands) Asset retirement obligations, beginning of period $ 121,417 Liabilities incurred 3,507 Liabilities acquired 3,640 Liabilities divested and settled (2,549) Accretion expense 2,145 Asset retirement obligations, end of period $ 128,160 ARO reflect the present value of the estimated future costs associated with the plugging and abandonment of oil and gas wells, removal of equipment and facilities from leased acreage and land restoration in accordance with applicable local, state and federal laws. Inherent in the fair value calculation of ARO are numerous estimates and assumptions, including plug and abandonment settlement amounts, inflation factors, credit adjusted discount rates and the timing of settlement. To the extent future revisions to these assumptions impact the value of the existing ARO liabilities, a corresponding offsetting adjustment is made to the oil and gas property balance. Changes in the liability due to the passage of time are recognized as an increase in the carrying amount of the liability with an offsetting charge to accretion expense, which is included within depreciation, depletion and amortization.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 6—Stock-Based Compensation On May 23, 2023, the stockholders of the Company approved the 2023 Long Term Incentive Plan (the “LTIP”). The LTIP is an equity incentive plan that replaced the Company’s prior plan and, among other things, increased the number of shares of Class A Common Stock authorized for issuance to employees and directors by 25,000,000 shares to a total of 69,250,000 shares. In connection with the Earthstone Merger, the Company amended and restated the LTIP to further increase the number of shares of Class A Common Stock authorized for issuance by 2,468,560 shares, representing the shares assumed from Earthstone’s Amended and Restated 2014 Long Term Incentive Plan, resulting in a total of 71,718,560 shares authorized for issuance. The LTIP provides for grants of restricted stock, stock options (including incentive stock options and nonqualified stock options), restricted stock units (including performance stock units), stock appreciation rights and other stock or cash-based awards. Stock-based compensation expense is recognized within both General and administrative expenses and Exploration and other expenses in the consolidated statements of operations. The Company accounts for forfeitures of awards granted under the LTIP as they occur. The following table summarizes stock-based compensation expense recognized for the periods presented: Three Months Ended March 31, (in thousands) 2024 2023 Equity Awards Restricted stock $ 4,586 $ 10,673 Stock option awards — 1 Performance stock units 5,045 7,197 Total stock-based compensation expense $ 9,631 $ 17,871 Equity Awards The Company has restricted stock, stock options and performance stock units (“PSUs”) outstanding that were granted under the LTIP as discussed below. Each award has service-based and, in the case of the PSUs, market-based vesting requirements, and are expected to be settled in shares of Class A Common Stock upon vesting. As a result, these awards are classified as equity-based awards in accordance with ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). In connection with the Colgate Merger, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) approved a resolution to extend severance benefits under the Company’s Second Amended and Restated Severance Plan (the “Severance Plan”) to employees that experience a Qualifying Termination (as defined in the Severance Plan) following the Colgate Merger. As a result, affected employees of the Company received an accelerated vesting of their unvested restricted stock awards and PSUs upon termination, which changed the terms of the vesting conditions and were treated as modifications in accordance with ASC 718. During the three months ended March 31, 2024, no employees had Qualifying Terminations related to the Colgate Merger as compared to nine employees that received accelerated vesting of their unvested stock awards during the three months ended March 31, 2023. These modifications resulted in an increase to total stock-based compensation expense of $6.3 million for the three months ended March 31, 2023 as a result of the change in the fair value of the modified awards. Restricted Stock The following table provides information about restricted stock activity during the three months ended March 31, 2024: Restricted Stock Weighted Average Fair Value Unvested balance as of December 31, 2023 3,821,231 $ 8.58 Granted 1,712,892 14.39 Vested (109,510) 9.15 Forfeited (64,663) 7.95 Unvested balance as of March 31, 2024 5,359,950 10.45 The Company grants service-based restricted stock to certain officers and employees, which either vests ratably over a three-year service period or cliff vests upon a three or five-year service period, and to directors, which vest over a one-year service period. Compensation cost for these service-based restricted stock grants is based on the closing market price of the Company’s Class A Common Stock on the grant date, and such costs are recognized ratably over the applicable vesting period. The total fair value of restricted stock that vested during the three months ended March 31, 2024 and 2023 was $1.0 million and $8.3 million, respectively. Unrecognized compensation cost related to restricted shares that were unvested as of March 31, 2024 was $45.0 million, which the Company expects to recognize over a weighted average period of 2.6 years. Stock Options Stock options that have been granted under the LTIP expire ten years from the grant date and vest ratably over their three-year service period. The exercise price for an option granted under the LTIP is the closing market price of the Company’s Class A Common Stock on the grant date. Compensation cost for stock options is based on the grant-date fair value of the award, which is then recognized ratably over the vesting period of three years. The following table provides information about stock option awards outstanding during the three months ended March 31, 2024: Options Weighted Average Exercise Price Weighted Average Remaining Term Aggregate Intrinsic Value Outstanding as of December 31, 2023 681,699 $ 16.64 Granted — — Exercised (7,500) 7.58 $ 55 Forfeited — — Expired (25,000) 18.60 Outstanding as of March 31, 2024 649,199 16.67 3.5 $ 1,189 Exercisable as of March 31, 2024 649,199 16.67 3.5 $ 1,189 Performance Stock Units The Company grants performance stock units (“PSU”) to certain officers and members of management that are subject to market-based vesting criteria as well as a service period ranging from three The Company’s PSUs currently outstanding can be settled in either Class A Common Stock or cash upon vesting at the Company’s discretion. The Company intends to settle all PSUs in Class A Common Stock and has sufficient shares available under the LTIP to settle the units in Class A Common Stock at the potential future vesting dates. Accordingly, the PSUs have been treated as equity-based awards with their fair values determined as of the grant or modification date, as applicable. The fair values of the awards are estimated using a Monte Carlo valuation model. The Monte Carlo valuation model is based on random projections of stock price paths and must be repeated numerous times to achieve a probabilistic assessment. Expected volatility was calculated based on the historical volatility of the Company’s Class A Common Stock, and the risk-free interest rate is based on U.S. Treasury yield curve rates with maturities consistent with the vesting periods. The following table summarizes the key assumptions and related information used to determine the fair value of PSUs granted during the three months ended March 31, 2024: 2024 Awards Number of PSUs granted 662,455 Fair value per share $24.81 Expected implied stock volatility 43.9% Risk-free interest rate 4.3% The following table provides information about PSUs outstanding during the three months ended March 31, 2024: Awards Weighted Average Fair Value Unvested balance as of December 31, 2023 5,019,425 $ 15.18 Granted 662,455 24.81 Vested — — Forfeited — — Unvested balance as of March 31, 2024 5,681,880 16.30 As of March 31, 2024, there was $56.5 million of unrecognized compensation cost related to PSUs that were unvested, which the Company expects to recognize on a pro-rata basis over a weighted average period of 2.5 years.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 7—Derivative Instruments The Company is exposed to certain risks relating to its ongoing business operations and may use derivative instruments to manage its exposure to commodity price risk from time to time. Commodity Derivative Contracts Historically, prices received for crude oil and natural gas production have been volatile because of supply and demand factors, worldwide political factors, general economic conditions and seasonal weather patterns. The Company may periodically use derivative instruments, such as swaps, costless collars and basis swaps, to mitigate its exposure to declines in commodity prices and to the corresponding negative impacts such declines can have on its cash flows from operations, returns on capital and other financial results. While the use of these instruments limits the downside risk of adverse price changes, their use may also limit future revenues from favorable price changes. The Company does not enter into derivative contracts for speculative or trading purposes. Commodity Swaps, Collar Contracts and Deferred Premium Puts. The Company may use commodity derivative instruments known as fixed price swaps to realize a known price for a specific volume of production, basis swaps to hedge the difference between the index price and a local or future index price, costless collars to establish fixed price floors and ceilings, or deferred premium puts to establish fixed price floors while delaying the premium payment until the option’s expiration. All transactions are settled in cash with one party paying the other for the resulting difference in price multiplied by the contract volume. The following table summarizes the approximate volumes and average contract prices of derivative contracts the Company had in place as of March 31, 2024: Period Volume (Bbls) Volume Wtd. Avg. Crude Price ($/Bbl) (1) Crude oil swaps April 2024 - June 2024 3,339,500 36,698 $76.71 July 2024 - September 2024 3,358,000 36,500 75.64 October 2024 - December 2024 3,358,000 36,500 74.61 January 2025 - March 2025 1,845,000 20,500 73.62 April 2025 - June 2025 1,865,500 20,500 72.46 July 2025 - September 2025 1,886,000 20,500 71.35 October 2025 - December 2025 1,886,000 20,500 70.38 January 2026 - March 2026 135,000 1,500 70.57 April 2026 - June 2026 136,500 1,500 69.69 July 2026 - September 2026 138,000 1,500 68.86 October 2026 - December 2026 138,000 1,500 68.16 Period Volume (Bbls) Volume Wtd. Avg. Collar Price Ranges ($/Bbl) (2) Crude oil collars April 2024 - June 2024 182,000 2,000 $60.00 - $76.01 July 2024 - September 2024 184,000 2,000 60.00 - 76.01 October 2024 - December 2024 184,000 2,000 60.00 - 76.01 Period Volume (Bbls) Volume (Bbls/d) Wtd. Avg. Put Price ($/Bbl) (3) Deferred Premium ($/Bbl) (3) Deferred premium puts April 2024 - June 2024 227,500 2,500 $65.00 $4.96 July 2024 - September 2024 230,000 2,500 65.00 4.96 October 2024 - December 2024 230,000 2,500 65.00 4.96 Period Volume (Bbls) Volume Wtd. Avg. Differential ($/Bbl) (4) Crude oil basis differential swaps April 2024 - June 2024 3,689,018 40,539 $0.97 July 2024 - September 2024 3,772,000 41,000 0.97 October 2024 - December 2024 3,772,000 41,000 0.97 January 2025 - March 2025 1,845,000 20,500 1.09 April 2025 - June 2025 1,865,500 20,500 1.09 July 2025 - September 2025 1,886,000 20,500 1.09 October 2025 - December 2025 1,886,000 20,500 1.09 Period Volume (Bbls) Volume Wtd. Avg. Differential ($/Bbl) (5) Crude oil roll differential swaps April 2024 - June 2024 3,659,018 40,209 $0.48 July 2024 - September 2024 3,772,000 41,000 0.49 October 2024 - December 2024 3,772,000 41,000 0.49 January 2025 - March 2025 1,845,000 20,500 0.39 April 2025 - June 2025 1,865,500 20,500 0.39 July 2025 - September 2025 1,886,000 20,500 0.39 October 2025 - December 2025 1,886,000 20,500 0.39 (1) These crude oil swap transactions are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated. (2) These crude oil collars are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated. (3) These crude oil deferred premium puts are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual put prices for the volumes stipulated. (4) These crude oil basis swap transactions are settled based on the difference between the arithmetic average of ARGUS MIDLAND WTI and ARGUS WTI CUSHING indices, during each applicable monthly settlement period. (5) These crude oil roll swap transactions are settled based on the difference between the arithmetic average of NYMEX WTI calendar month prices and the physical crude oil delivery month price. Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Gas Price ($/MMBtu) (1) Natural gas swaps April 2024 - June 2024 5,906,321 64,905 $3.29 July 2024 - September 2024 5,949,388 64,667 3.43 October 2024 - December 2024 5,933,899 64,499 3.86 January 2025 - March 2025 3,600,000 40,000 4.32 April 2025 - June 2025 3,640,000 40,000 3.65 July 2025 - September 2025 3,680,000 40,000 3.83 October 2025 - December 2025 3,680,000 40,000 4.20 Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Differential ($/MMBtu) (2) Natural gas basis differential swaps April 2024 - June 2024 10,920,000 120,000 $(0.99) July 2024 - September 2024 11,040,000 120,000 (0.99) October 2024 - December 2024 11,040,000 120,000 (0.98) January 2025 - March 2025 3,600,000 40,000 (0.74) April 2025 - June 2025 3,640,000 40,000 (0.74) July 2025 - September 2025 3,680,000 40,000 (0.74) October 2025 - December 2025 3,680,000 40,000 (0.74) Period Volume (MMBtu) Volume Wtd. Avg. Collar Price Ranges ($/MMBtu) (3) Natural gas collars April 2024 - June 2024 5,013,679 55,095 $2.68 - $5.04 July 2024 - September 2024 5,090,612 55,333 2.68 - 5.06 October 2024 - December 2024 5,106,101 55,501 2.75 - 5.29 (1) These natural gas swap contracts are settled based on the NYMEX Henry Hub price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated. (2) These natural gas basis swap contracts are settled based on the difference between the Inside FERC’s West Texas WAHA price and the NYMEX price of natural gas, during each applicable monthly settlement period. (3) These natural gas collars are settled based on the NYMEX Henry Hub price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated. Derivative Instrument Reporting. The Company’s oil and natural gas derivative instruments have not been designated as hedges for accounting purposes. Therefore, all gains and losses are recognized in the Company’s consolidated statements of operations. All derivative instruments are recorded at fair value in the consolidated balance sheets, other than derivative instruments that meet the “normal purchase normal sale” exclusion, and any fair value gains and losses are recognized in current period earnings. The following table presents the impact of the Company’s derivative instruments in its consolidated statements of operations for the periods presented: Three Months Ended March 31, (in thousands) 2024 2023 Net gain (loss) on derivative instruments $ (121,129) $ 54,512 Offsetting of Derivative Assets and Liabilities. The Company’s commodity derivatives are included in the accompanying consolidated balance sheets as derivative assets and liabilities. The Company nets its financial derivative instrument fair value amounts executed with the same counterparty pursuant to ISDA master netting agreements, which provide for net settlement over the term of the contract and in the event of default or termination of the contract. The tables below summarize the fair value amounts and the classification in the consolidated balance sheets of the Company’s derivative contracts outstanding at the respective balance dates, as well as the gross recognized derivative assets, liabilities and offset amounts: Balance Sheet Classification Gross Fair Value Asset/Liability Amounts Gross Amounts Offset (1) Net Recognized Fair Value Assets/Liabilities (in thousands) March 31, 2024 Derivative Assets Commodity contracts Derivative instruments $ 41,673 $ (36,673) $ 5,000 Other noncurrent assets 7,174 (6,386) 788 Derivative Liabilities Commodity contracts Derivative instruments $ 70,360 $ (36,673) $ 33,687 Other noncurrent liabilities 13,388 (6,386) 7,002 December 31, 2023 Derivative Assets Commodity contracts Derivative instruments $ 88,192 $ (17,601) $ 70,591 Other noncurrent assets 29,469 (2,435) 27,034 Derivative Liabilities Commodity contracts Derivative instruments $ 20,326 $ (17,601) $ 2,725 Other noncurrent liabilities 3,762 (2,435) 1,327 (1) The Company has agreements in place with each of its counterparties that allow for the financial right of offset for derivative assets against derivative liabilities at settlement or in the event of a default under the agreements or if contracts are terminated. Contingent Features in Financial Derivative Instruments. None of the Company’s derivative instruments contain credit-risk-related contingent features. Counterparties to the Company’s financial derivative contracts are high credit-quality financial institutions that are primarily lenders under OpCo’s Credit Agreement. The Company enters into new hedge arrangements only with participants under its Credit Agreement, since these institutions are secured equally with the holders of any OpCo bank debt, which eliminates the potential need to post collateral when the Company is in a derivative liability position. As a result, the Company is not required to post letters of credit or corporate guarantees for its derivative counterparties in order to secure contract performance obligations. In addition, the Company is exposed to credit risk associated with its derivative contracts from non-performance by its counterparties. The Company mitigates its exposure to any single counterparty by contracting with a number of financial institutions, each of which has a high credit rating and is a lender under OpCo’s Credit Agreement as referenced above.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8—Fair Value Measurements Recurring Fair Value Measurements The Company follows ASC Topic 820, Fair Value Measurement and Disclosure, which establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows: • Level 1: Quoted Prices in Active Markets for Identical Assets – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Significant Other Observable Inputs – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3: Significant Unobservable Inputs – inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following table presents, for each applicable level within the fair value hierarchy, the Company’s net derivative assets and liabilities, including both current and noncurrent portions, measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 March 31, 2024 Total assets $ — $ 5,788 $ — Total liabilities — 40,689 — December 31, 2023 Total assets $ — $ 97,625 $ — Total liabilities — 4,052 — Both financial and non-financial assets and liabilities are categorized within the above fair value hierarchy 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 to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The following is a description of the valuation methodologies used by the Company as well as the general classification of such instruments pursuant to the above fair value hierarchy. There were no transfers between any of the fair value levels during any period presented. Derivatives The Company uses Level 2 inputs to measure the fair value of its oil and natural gas commodity derivatives. The Company uses industry-standard models that consider various assumptions including current market and contractual prices for the underlying instruments, implied market volatility, time value, nonperformance risk, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the instrument and can be supported by observable data. The Company utilizes its counterparties’ valuations to assess the reasonableness of its own valuations. Refer to Note 7—Derivative Instruments for details of the gross and net derivative assets, liabilities and offset amounts as presented in the consolidated balance sheets. Nonrecurring Fair Value Measurements The Company applies the provisions of the fair value measurement standard on a nonrecurring basis to its non-financial assets and liabilities, including proved oil and gas properties. These assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Oil and Gas Property Acquisitions. The fair value measurements of assets acquired and liabilities assumed are measured on the acquisition date using an income valuation technique based on inputs that are not observable in the market and therefore represent Level 3 inputs. Significant inputs to the valuation of acquired oil and gas properties include estimates of: (i) reserves; (ii) production rates; (iii) future development costs; (iv) future commodity prices, including price differentials; (v) future cash flows; (vi) a market participant-based weighted average cost of capital rate and (vii) risk adjustment factors applied to proved and unproved reserves. These inputs require significant judgements and estimates by the Company’s management at the time of valuation. Impairment of Oil and Natural Gas Properties. The Company reviews its proved oil and natural gas properties for impairment whenever events and circumstances indicate that the fair value of these assets may be below their carrying value. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows from oil and gas properties is less than the carrying amount of the assets. In this circumstance, the Company then recognizes impairment expense for the amount by which the carrying amount of proved properties exceeds their estimated fair value. The Company reviews its oil and natural gas properties on a field-by-field basis. The Company calculates the estimated fair value of its oil and natural gas properties using an income approach that is based on inputs that are not observable in the market and therefore represent Level 3 inputs. Significant inputs to the expected future net cash flows used for the impairment review and the related fair value measurement of oil and natural gas proved properties include estimates of: (i) oil and gas reserves; (ii) future production decline rates; (iii) future operating and development costs; (iv) future commodity prices, including price differentials; and (v) a market participant-based weighted average cost of capital rate. These inputs require significant judgments and estimates by the Company’s management. Asset Retirement Obligations. The initial measurement of ARO at fair value is calculated using discounted cash flow techniques and is based on internal estimates of future retirement costs associated with property, plant and equipment. Significant Level 3 inputs used in the calculation of ARO include the estimated future costs to plug and abandon oil and gas properties and reserve lives. Refer to Note 5—Asset Retirement Obligations for additional information on the Company’s ARO. Other Financial Instruments The carrying amounts of the Company’s cash, cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate their fair values because of the short-term maturities and/or liquid nature of these assets and liabilities. The Company’s senior notes and borrowings under its Credit Agreement are accounted for at cost. The following table summarizes the carrying values, principal amounts and fair values of these instruments as of the periods indicated: March 31, 2024 December 31, 2023 Carrying Value Principal Amount Fair Value Carrying Value Principal Amount Fair Value Credit Facility due 2027 (1) $ 60,000 $ 60,000 $ 60,000 $ — $ — $ — 5.375% Senior Notes due 2026 (2) 287,641 289,448 286,304 287,408 289,448 285,287 7.75% Senior Notes due 2026 (2) 300,000 300,000 304,019 300,000 300,000 304,551 6.875% Senior Notes due 2027 (2) 352,876 356,351 356,315 352,619 356,351 356,852 8.00% Senior Notes due 2027 (2) 564,052 550,000 567,291 565,063 550,000 568,473 3.25% Convertible Senior Notes due 2028 (2)(3) 166,120 170,000 510,574 165,897 170,000 404,124 5.875% Senior Notes due 2029 (2) 660,113 700,000 687,945 658,562 700,000 684,705 9.875% Senior Notes due 2031 (2) 535,421 500,000 556,262 536,280 500,000 555,625 7.00% Senior Notes due 2032 (2) 983,195 1,000,000 1,036,757 982,952 1,000,000 1,030,790 (1) The carrying values of the amounts outstanding under OpCo’s Credit Agreement approximate fair value because its variable interest rates are tied to current market rates and the applicable credit spreads represent current market rates for the credit risk profile of the Company. (2) The carrying values include associated unamortized debt issuance costs and any debt discounts as reflected in the consolidated balance sheets. The fair values are determined using quoted market prices for these debt securities, a Level 1 classification in the fair value hierarchy, and are based on the aggregate principal amount of the senior notes outstanding. (3) The Convertible Senior Notes are subject to certain conditions that allow them to be convertible prior to their maturity and as of March 31, 2024, noteholders have the right to convert during the second quarter of 2024. The Company has Capped Call Transactions that cover the aggregate number of shares of Class A Common Stock that underlie the Convertible Senior Notes and would offset any cash payment OpCo is required to make in excess of the principal amount of these notes. Refer to Note 4—Long-Term Debt for additional information on the

Equity

Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity Note Disclosure	Note 9—Shareholders’ Equity and Noncontrolling Interest Stock Conversion During the three months ended March 31, 2024 and 2023, certain legacy owners of Colgate and Earthstone exchanged 41.4 million and 20.9 million, respectively, of their common units of OpCo (“Common Unit”) and corresponding shares of Class C Common Stock for Class A Common Stock. Deferred tax assets of $26.3 million and $2.4 million were recorded in equity as a result of the conversions of shares from the noncontrolling interest owners for the three months ended March 31, 2024 and 2023, respectively. No cash proceeds were received by the Company in connection with these conversions. Dividends The following table summarizes the Company’s base and variable dividend per share of Class A Common Stock and distribution per Common Unit (each of which has an underlying share of Class C Common Stock) declared and paid during each period: Dividend/Distribution per Share Total Dividends/Distributions Declared and Paid Base Variable Total Three Months Ended, (in thousands) March 31, 2024 $ 0.05 $ 0.10 $ 0.15 $ 115,521 March 31, 2023 $ 0.05 $ — $ 0.05 $ 28,516 Stock Repurchase Program The Company’s Board of Directors authorized a stock repurchase program to acquire up to $500 million of the Company’s outstanding common stock (the “Repurchase Program”), which was approved to run through December 31, 2024. The Repurchase Program can be used by the Company to reduce its shares of Class A Common Stock and Class C Common Stock outstanding. Repurchases may be made from time to time in the open-market or via privately negotiated transactions at the Company’s discretion and will be subject to market conditions, applicable legal requirements, available liquidity, compliance with the Company’s debt agreements and other factors. The Repurchase Program does not require any specific number of shares to be acquired and can be modified or discontinued by the Company’s Board of Directors at any time. During the three months ended March 31, 2024 and 2023, the Company paid $31.4 million and $29.4 million, respectively, to repurchase 2.0 million and 2.8 million, respectively, Common Units of OpCo resulting in an equal number of the underlying shares of Class C Common Stock simultaneously being canceled under its Repurchase Program. Noncontrolling Interest The noncontrolling interest relates to Common Units that were issued in connection with the Colgate Merger and the Earthstone Merger. The noncontrolling interest percentage is affected by various equity transactions such as Common Unit and Class C Common Stock exchanges and transactions involving Class A Common Stock. As of March 31, 2024, the noncontrolling interest ownership of OpCo had decreased to 24% from 30% as of December 31, 2023. This decrease was mainly the result of (i) exchanges of Common Units (and corresponding shares of Class C Common Stock) for Class A Common Stock and (ii) Class C Common Stock repurchases completed by the Company as discussed above. The Company consolidates the financial position, results of operations and cash flows of OpCo and reflects the portion retained by other holders of Common Units as a noncontrolling interest. Refer to the consolidated statements of shareholders’ equity for a summary of the activity attributable to the noncontrolling interest during the period.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 10—Earnings Per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to Class A Common Stock by the weighted average shares of Class A Common Stock outstanding during each period. Diluted EPS is calculated by dividing adjusted net income by the weighted average shares of diluted Class A Common Stock outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted EPS calculation consists of (i) unvested equity-based restricted stock and performance stock units and outstanding stock options, all using the treasury stock method; (ii) equity-based restricted stock and performance stock units that were vested but not outstanding, using the treasury stock method; and (iii) the Company’s Class C Common Stock and potential shares issuable under our Convertible Senior Notes, both using the “if-converted” method, which is net of tax. The following table reflects the EPS computations for the periods indicated based on a weighted average number of Class A Common Stock outstanding each period: Three Months Ended March 31, (in thousands, except per share data) 2024 2023 Net income attributable to Class A Common Stock $ 146,575 $ 102,120 Add: Interest on Convertible Senior Notes, net of tax 1,322 1,375 Adjusted net income (attributable to Class A Common Stock) $ 147,897 $ 103,495 Basic weighted average shares of Class A Common Stock outstanding 552,472 295,913 Add: Dilutive effects of Convertible Senior Notes 28,355 27,314 Add: Dilutive effects of equity awards 14,525 12,621 Diluted weighted average shares of Class A Common Stock outstanding 595,352 335,848 Basic net earnings per share of Class A Common Stock $ 0.27 $ 0.35 Diluted net earnings per share of Class A Common Stock $ 0.25 $ 0.31 The following table presents shares excluded from the diluted earnings per share calculation for the periods presented as their impact was anti-dilutive: Three Months Ended March 31, (in thousands) 2024 2023 Out-of-the-money stock options 540 1,914 Weighted average shares of Class C Common Stock 218,811 263,369

Transactions with Related Parti

Transactions with Related Parties	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Transactions with Related Parties	Note 11—Transactions with Related Parties Pearl Energy Investments (“Pearl”), EnCap Partners GP, LLC (“EnCap”), Riverstone Investment Group LLC (“Riverstone”), NGP Energy Capital (“NGP”) and related affiliates of each entity each beneficially owned more than 5% of any class of common stock in the Company as of March 31, 2024. Due to Pearl, EnCap, Riverstone and NGP’s beneficial ownership and NGP, Pearl and OpCo’s management’s previously held interest in CEP III Holdings, LLC, these entities are considered related parties to the Company. The Company has a vendor arrangement with Streamline Innovations Inc, (“Streamline”) who was a former affiliate of Riverstone beginning in the second quarter of 2022 and is now an affiliate of Pearl as of March 31, 2024 that represents a related party transaction. The Company believes that the terms of this arrangement is no less favorable to either party than those held with unaffiliated parties. The following table summarizes the costs incurred from the arrangement during the periods it was considered a related party, as discussed above, as included in the consolidated statements of operations for the periods indicated: Three Months Ended March 31, (in thousands) 2024 2023 Streamline Lease operating expenses $ 2,059 $ 596 During the three months ended March 31, 2024 and 2023, the Company paid various affiliates of NGP and EnCap for revenues earned based upon their net revenue interests held in wells that are operated by the Company. These relationships are considered ordinary in the course of business and the terms of these relationships are no more favorable than those held with unaffiliated parties. During the three months ended March 31, 2024 and 2023, the Company repurchased 2.0 million and 2.8 million, respectively, Common Units of OpCo from NGP for $31.4 million and $29.4 million, respectively, under the Repurchase Program. The equal number of underlying shares of Class C Common Stock were simultaneously canceled by the Company.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12—Commitments and Contingencies Commitments The Company routinely enters into, extends or amends operating agreements in the ordinary course of business. There has been no material, non-routine changes in commitments during the three months ended March 31, 2024. Please refer to Note 14—Commitments and Contingencies included in Part II, Item 8 in the Company’s 2023 Annual Report. Contingencies The Company may at times be subject to various commercial or regulatory claims, prior period adjustments from service providers, litigation or other legal proceedings that arise in the ordinary course of business. While the outcome of these lawsuits and claims cannot be predicted with certainty, management believes it is remote that the impact of such matters, other than those discussed below, that are reasonably possible to occur will have a material adverse effect on the Company’s financial position, results of operations, or cash flows. In February 2021, the Permian Basin was impacted by record-low temperatures and a severe winter storm (“Winter Storm Uri”) that resulted in multi-day electrical outages and shortages, pipeline and infrastructure freezes, transportation disruptions, and regulatory actions in Texas, which led to significant increases in gas prices, gathering, processing and transportation fees and electrical rates during this time. As a result, many oil and gas operators, including upstream producers like the Company, gas processors and purchasers, and transportation providers experienced operational disruptions. During this time, the Company was unable to utilize the entire volume of its reserved capacity on pipelines and as a result has made certain force majeure declarations. One third-party transportation provider filed a lawsuit against the Company claiming compensation for the full amount of the reserved capacity, both utilized and unutilized. The Company paid for the utilized capacity and filed a separate lawsuit against the transportation provider requesting declaratory relief for the purpose of construing the provisions of the transportation agreement relating to the unutilized capacity. At this time, the Company believes that a loss in relation to these matters is probable and in accordance with ASC Topic 450-20, Loss Contingencies has recorded a net estimated liability of $6.5 million, inclusive of estimated interest penalties, as of March 31, 2024. Future changes in facts and circumstances not currently known or foreseeable could result in the actual liability exceeding the estimated loss accrued, however, the Company believes that any such loss above the amount accrued would not be material to the consolidated financial statements. Other than the matter above, management is unaware of any pending litigation brought against the Company requiring a contingent liability to be recognized as of the date of these consolidated financial statements.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Note 13—Revenues Revenue from Contracts with Customers Crude oil, natural gas and NGL sales are recognized at the point that control of the product is transferred to the customer and collectability is reasonably assured. Virtually all of the Company’s contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, transportation costs to an active spot market and quality differentials. As a result, the Company’s realized prices of oil, natural gas, and NGLs fluctuate to remain competitive with other available oil, natural gas, and NGLs supplies both globally (in the case of crude oil) and locally. Oil and gas revenues presented within the consolidated statements of operations relate to the sale of oil, natural gas and NGLs as shown below: Three Months Ended March 31, 2024 2023 Operating revenues (in thousands): Oil sales $ 1,051,642 $ 524,386 Natural gas sales (1) 38,767 32,122 NGL sales (2) 152,590 59,760 Oil and gas sales $ 1,242,999 $ 616,268 (1) Natural gas sales include a portion of gathering, processing and transportation costs (“GP&T”) that are reflected as a reduction to natural gas sales of $25.3 million for the three months ended March 31, 2024 and $11.3 million for the three months ended March 31, 2023. (2) NGL sales include a portion of GP&T that are reflected as a reduction to NGL sales of $22.9 million for the three months ended March 31, 2024 and $16.1 million for the three months ended March 31, 2023. Oil sales The Company’s crude oil sales contracts are generally structured whereby oil is delivered to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes title of the product. This delivery point is usually at the wellhead or at the inlet of a transportation pipeline. Revenue is recognized when control transfers to the purchaser at the delivery point based on the net price received from the purchaser. Any downstream transportation costs incurred by crude purchasers are reflected as a net reduction to oil sales revenues. Natural gas and NGL sales Under the Company’s natural gas processing contracts, liquids rich natural gas is delivered to a midstream gathering and processing entity at the agreed upon delivery point at which the purchaser takes title of the product. The midstream processing entity gathers and processes the raw gas and then remits proceeds to the Company. For these contracts, the Company evaluates when control is transferred and revenue should be recognized. Where the Company elects to take its residue gas or NGL product “in-kind” at the plant tailgate, fees incurred prior to transfer of control at the outlet of the plant are presented as GP&T within the consolidated statements of operations. Where the Company does not take its residue gas or NGL products “in-kind”, transfer of control occurs at the inlet of the gas gathering systems, or prior, and fees incurred subsequent to this point are reflected as a net reduction to natural gas and NGL sales revenues presented in the table above. Performance obligations For all commodity products, the Company records revenue in the month production is delivered to the purchaser. Settlement statements for crude oil are generally received within 30 days following the date that production volumes are delivered, but for natural gas and NGL sales, statements may not be re ceived for 30 to 60 days after delivery has occurred. However, payment is unconditional once the performance obligations have been satisfied. At such time, the volumes delivered and sal es prices can be reasonably estimated and amounts due from customers are accrued in Accounts receivable, net in the consolidated balance sheets. As of March 31, 2024 and December 31, 2023, such receivable balances were $390.4 million and $346.0 million, respectively. The Company records any differences between its estimates and the actual amounts received for product sales in the month that payment is received from the purchaser. Historically, any identified differences between revenue estimates and actual revenue received have not been significant. For the three months ended March 31, 2024 and 2023, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods were not material. Transaction price allocated to remaining performance obligations For the Company’s product sales that have a contract term greater than one year, the Company has utilized the practical expedien t in ASC Topic 606, Revenue from contracts with Customers, which states the Company is not required to disclose the transaction price allocated to the remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under t

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 14—Subsequent Events Senior Note Redemption On April 5, 2024, the Company redeemed all of its outstanding 2027 6.875% Senior Notes at a redemption price equal to 100% of the aggregate principal amount outstanding of $356.4 million plus accrued and unpaid interest up to, but excluding, the redemption date. Amended Credit Agreement In connection with the spring borrowing base redetermination on April 25, 2024, the Company entered into the seventh amendment to its Credit Agreement (the “Seventh Amendment”). The Seventh Amendment, among other things, increased the elected commitments under the Credit Agreement to $2.5 billion from $2.0 billion and reaffirmed the borrowing base at $4.0 billion. Dividends Declared On May 7, 2024, the Company announced that its Board of Directors declared a quarterly dividend of $0.06 per share of Class A Common Stock and a quarterly distribution of $0.06 per Common Unit of OpCo. Additionally, the Company’s Board of Directors declared a variable dividend of $0.14 per share of Class A Common Stock and a quarterly variable distribution of $0.14 per Common Unit of OpCo. The base and variable dividend represent a total return of $0.20 per share. The dividend is payable on May 29, 2024 to shareholders of record as of May 21, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 146,575	$ 102,120

Insider Trading Arrangements

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

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, certain disclosures normally included in an Annual Report on Form 10-K have been omitted. The consolidated financial statements and related notes included in this Quarterly Report should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2023 (the “2023 Annual Report”). Except as disclosed herein, there have been no material changes to the information disclosed in the notes to the consolidated financial statements included in the Company’s 2023 Annual Report.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and its subsidiary OpCo, and OpCo’s wholly-owned subsidiaries. Noncontrolling interest represents third-party ownership in OpCo and is presented as a component of equity. Refer to Note 9—Shareholders’ Equity and Noncontrolling Interest
Use of Estimates	The preparation of the Company’s consolidated financial statements requires the Company’s management to make various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of commitments and contingencies. Changes in these assumptions, judgments and estimates will occur as a result of the passage of time and the occurrence of future events, and accordingly, actual results could differ from amounts previously established. Additionally, the prices received for oil, natural gas and NGL production can heavily influence the Company’s assumptions, judgments and estimates, and continued volatility of oil and gas prices could have a significant impact on the Company’s estimates. The more significant areas requiring the use of assumptions, judgments and estimates include: (i) oil and natural gas reserves; (ii) cash flow estimates used in impairment tests for long-lived assets; (iii) impairment expense of unproved properties; (iv) depreciation, depletion and amortization; (v) asset retirement obligations; (vi) determining fair value and allocating purchase price in connection with business combinations and asset acquisitions; (vii) accrued revenues and related receivables; (viii) accrued liabilities; (ix) derivative valuations; (x) deferred income taxes; and (xi) determining the fair values of certain stock-based compensation awards.
Lessee, Leases	The Company has operating leases for drilling rig contracts, office rental agreements and other wellhead equipment and a financing lease for a ground lease for its office building in Midland, Texas. During the three months ended March 31, 2024, the Company entered into two drilling rig contracts each with lease terms of three-years. A lease right-of-use asset and related liability were recorded for these drilling rig agreements based on the present value of the future lease payments of the drilling rigs over the lease terms. As of March 31, 2024, the Company had recorded in aggregate a $21.9 million current operating lease liability and a $43.2 million noncurrent operating lease liability related to these drilling rig agreements. The following table provides additional information related to the Company’s lease assets and liabilities as presented on balance sheet for the periods presented: (in thousands) Balance Sheet Classification March 31, 2024 December 31, 2023 Assets Operating right-of-use assets Operating lease right-of-use asset $ 123,147 $ 59,359 Finance right-of-use asset Other noncurrent assets 15,150 15,189 Liabilities Current Operating lease liabilities Operating lease liabilities $ 53,172 $ 33,006 Finance lease liability Other current liabilities 758 753 Noncurrent Operating lease liabilities Operating lease liabilities $ 71,898 $ 28,302 Finance lease liability Other noncurrent liabilities 14,909 14,821 There have been no other significant changes in leases during the three months ended March 31, 2024. Refer to Note 16—Leases in the notes to the consolidated financial statements in Part II, Item 8 of the Company’s 2023 Annual Report for additional information on the Company’s operating and financing leases.
Income Taxes	The Company is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of OpCo, as well as any stand-alone income or loss generated by the Company. OpCo is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, OpCo is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by OpCo is passed through to and included in the taxable income or loss of its members, including the Company, on a pro rata basis.

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary Operating & Financing Right-of-Use Assets & Lease Liabilities	The following table provides additional information related to the Company’s lease assets and liabilities as presented on balance sheet for the periods presented: (in thousands) Balance Sheet Classification March 31, 2024 December 31, 2023 Assets Operating right-of-use assets Operating lease right-of-use asset $ 123,147 $ 59,359 Finance right-of-use asset Other noncurrent assets 15,150 15,189 Liabilities Current Operating lease liabilities Operating lease liabilities $ 53,172 $ 33,006 Finance lease liability Other current liabilities 758 753 Noncurrent Operating lease liabilities Operating lease liabilities $ 71,898 $ 28,302 Finance lease liability Other noncurrent liabilities 14,909 14,821

Business Combinations and Ass_2

Business Combinations and Asset Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Business Acquisition, Pro Forma Information	Future results may vary significantly from the results reflected in the following pro forma information. Three Months Ended March 31, 2023 Total Revenue $ 1,121,644 Net Income 149,739 Earnings per share: Basic $ 0.33 Diluted 0.29

Accounts Receivable, Accounts_2

Accounts Receivable, Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable	Accounts receivable are comprised of the following: (in thousands) March 31, 2024 December 31, 2023 Accrued oil and gas sales receivable, net $ 390,421 $ 345,982 Joint interest billings, net 164,730 123,160 Accrued derivative settlements receivable 671 8,228 Other 1,421 3,690 Accounts receivable, net $ 557,243 $ 481,060
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses are comprised of the following: (in thousands) March 31, 2024 December 31, 2023 Accounts payable $ 43,511 $ 94,533 Accrued capital expenditures 239,440 271,569 Revenues payable 493,841 527,470 Accrued employee compensation and benefits 14,995 29,836 Accrued interest 79,050 100,882 Accrued expenses and other 106,277 143,235 Accounts payable and accrued expenses $ 977,114 $ 1,167,525

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The following table provides information about the Company’s long-term debt as of the dates indicated: (in thousands) March 31, 2024 December 31, 2023 Credit Facility due 2027 $ 60,000 $ — Senior Notes 5.375% Senior Notes due 2026 289,448 289,448 7.75% Senior Notes due 2026 300,000 300,000 6.875% Senior Notes due 2027 356,351 356,351 8.00% Senior Notes due 2027 550,000 550,000 3.25% Convertible Senior Notes due 2028 170,000 170,000 5.875% Senior Notes due 2029 700,000 700,000 9.875% Senior Notes due 2031 500,000 500,000 7.00% Senior Notes due 2032 1,000,000 1,000,000 Unamortized debt issuance costs on Senior Notes (22,340) (23,149) Unamortized debt (discount)/premium 5,959 6,131 Senior Notes, net 3,849,418 3,848,781 Total long-term debt, net $ 3,909,418 $ 3,848,781

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Asset Retirement Obligations	The following table summarizes changes in the Company’s asset retirement obligations (“ARO”) associated with its working interests in oil and gas properties for the three months ended March 31, 2024: (in thousands) Asset retirement obligations, beginning of period $ 121,417 Liabilities incurred 3,507 Liabilities acquired 3,640 Liabilities divested and settled (2,549) Accretion expense 2,145 Asset retirement obligations, end of period $ 128,160

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	The following table summarizes stock-based compensation expense recognized for the periods presented: Three Months Ended March 31, (in thousands) 2024 2023 Equity Awards Restricted stock $ 4,586 $ 10,673 Stock option awards — 1 Performance stock units 5,045 7,197 Total stock-based compensation expense $ 9,631 $ 17,871
Schedule of Restricted Stock Activity	The following table provides information about restricted stock activity during the three months ended March 31, 2024: Restricted Stock Weighted Average Fair Value Unvested balance as of December 31, 2023 3,821,231 $ 8.58 Granted 1,712,892 14.39 Vested (109,510) 9.15 Forfeited (64,663) 7.95 Unvested balance as of March 31, 2024 5,359,950 10.45
Summary of Stock Option Activity	The following table provides information about stock option awards outstanding during the three months ended March 31, 2024: Options Weighted Average Exercise Price Weighted Average Remaining Term Aggregate Intrinsic Value Outstanding as of December 31, 2023 681,699 $ 16.64 Granted — — Exercised (7,500) 7.58 $ 55 Forfeited — — Expired (25,000) 18.60 Outstanding as of March 31, 2024 649,199 16.67 3.5 $ 1,189 Exercisable as of March 31, 2024 649,199 16.67 3.5 $ 1,189
Schedule of Variable Performance Stock Units Valuation Assumptions	The following table summarizes the key assumptions and related information used to determine the fair value of PSUs granted during the three months ended March 31, 2024: 2024 Awards Number of PSUs granted 662,455 Fair value per share $24.81 Expected implied stock volatility 43.9% Risk-free interest rate 4.3%
Share-based Payment Arrangement, Performance Shares, Outstanding Activity	The following table provides information about PSUs outstanding during the three months ended March 31, 2024: Awards Weighted Average Fair Value Unvested balance as of December 31, 2023 5,019,425 $ 15.18 Granted 662,455 24.81 Vested — — Forfeited — — Unvested balance as of March 31, 2024 5,681,880 16.30

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the approximate volumes and average contract prices of derivative contracts the Company had in place as of March 31, 2024: Period Volume (Bbls) Volume Wtd. Avg. Crude Price ($/Bbl) (1) Crude oil swaps April 2024 - June 2024 3,339,500 36,698 $76.71 July 2024 - September 2024 3,358,000 36,500 75.64 October 2024 - December 2024 3,358,000 36,500 74.61 January 2025 - March 2025 1,845,000 20,500 73.62 April 2025 - June 2025 1,865,500 20,500 72.46 July 2025 - September 2025 1,886,000 20,500 71.35 October 2025 - December 2025 1,886,000 20,500 70.38 January 2026 - March 2026 135,000 1,500 70.57 April 2026 - June 2026 136,500 1,500 69.69 July 2026 - September 2026 138,000 1,500 68.86 October 2026 - December 2026 138,000 1,500 68.16 Period Volume (Bbls) Volume Wtd. Avg. Collar Price Ranges ($/Bbl) (2) Crude oil collars April 2024 - June 2024 182,000 2,000 $60.00 - $76.01 July 2024 - September 2024 184,000 2,000 60.00 - 76.01 October 2024 - December 2024 184,000 2,000 60.00 - 76.01 Period Volume (Bbls) Volume (Bbls/d) Wtd. Avg. Put Price ($/Bbl) (3) Deferred Premium ($/Bbl) (3) Deferred premium puts April 2024 - June 2024 227,500 2,500 $65.00 $4.96 July 2024 - September 2024 230,000 2,500 65.00 4.96 October 2024 - December 2024 230,000 2,500 65.00 4.96 Period Volume (Bbls) Volume Wtd. Avg. Differential ($/Bbl) (4) Crude oil basis differential swaps April 2024 - June 2024 3,689,018 40,539 $0.97 July 2024 - September 2024 3,772,000 41,000 0.97 October 2024 - December 2024 3,772,000 41,000 0.97 January 2025 - March 2025 1,845,000 20,500 1.09 April 2025 - June 2025 1,865,500 20,500 1.09 July 2025 - September 2025 1,886,000 20,500 1.09 October 2025 - December 2025 1,886,000 20,500 1.09 Period Volume (Bbls) Volume Wtd. Avg. Differential ($/Bbl) (5) Crude oil roll differential swaps April 2024 - June 2024 3,659,018 40,209 $0.48 July 2024 - September 2024 3,772,000 41,000 0.49 October 2024 - December 2024 3,772,000 41,000 0.49 January 2025 - March 2025 1,845,000 20,500 0.39 April 2025 - June 2025 1,865,500 20,500 0.39 July 2025 - September 2025 1,886,000 20,500 0.39 October 2025 - December 2025 1,886,000 20,500 0.39 (1) These crude oil swap transactions are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated. (2) These crude oil collars are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated. (3) These crude oil deferred premium puts are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual put prices for the volumes stipulated. (4) These crude oil basis swap transactions are settled based on the difference between the arithmetic average of ARGUS MIDLAND WTI and ARGUS WTI CUSHING indices, during each applicable monthly settlement period. (5) These crude oil roll swap transactions are settled based on the difference between the arithmetic average of NYMEX WTI calendar month prices and the physical crude oil delivery month price. Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Gas Price ($/MMBtu) (1) Natural gas swaps April 2024 - June 2024 5,906,321 64,905 $3.29 July 2024 - September 2024 5,949,388 64,667 3.43 October 2024 - December 2024 5,933,899 64,499 3.86 January 2025 - March 2025 3,600,000 40,000 4.32 April 2025 - June 2025 3,640,000 40,000 3.65 July 2025 - September 2025 3,680,000 40,000 3.83 October 2025 - December 2025 3,680,000 40,000 4.20 Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Differential ($/MMBtu) (2) Natural gas basis differential swaps April 2024 - June 2024 10,920,000 120,000 $(0.99) July 2024 - September 2024 11,040,000 120,000 (0.99) October 2024 - December 2024 11,040,000 120,000 (0.98) January 2025 - March 2025 3,600,000 40,000 (0.74) April 2025 - June 2025 3,640,000 40,000 (0.74) July 2025 - September 2025 3,680,000 40,000 (0.74) October 2025 - December 2025 3,680,000 40,000 (0.74) Period Volume (MMBtu) Volume Wtd. Avg. Collar Price Ranges ($/MMBtu) (3) Natural gas collars April 2024 - June 2024 5,013,679 55,095 $2.68 - $5.04 July 2024 - September 2024 5,090,612 55,333 2.68 - 5.06 October 2024 - December 2024 5,106,101 55,501 2.75 - 5.29 (1) These natural gas swap contracts are settled based on the NYMEX Henry Hub price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated. (2) These natural gas basis swap contracts are settled based on the difference between the Inside FERC’s West Texas WAHA price and the NYMEX price of natural gas, during each applicable monthly settlement period. (3) These natural gas collars are settled based on the NYMEX Henry Hub price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated.
Schedule of Gains and Losses from Derivative Instruments	The following table presents the impact of the Company’s derivative instruments in its consolidated statements of operations for the periods presented: Three Months Ended March 31, (in thousands) 2024 2023 Net gain (loss) on derivative instruments $ (121,129) $ 54,512
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The tables below summarize the fair value amounts and the classification in the consolidated balance sheets of the Company’s derivative contracts outstanding at the respective balance dates, as well as the gross recognized derivative assets, liabilities and offset amounts: Balance Sheet Classification Gross Fair Value Asset/Liability Amounts Gross Amounts Offset (1) Net Recognized Fair Value Assets/Liabilities (in thousands) March 31, 2024 Derivative Assets Commodity contracts Derivative instruments $ 41,673 $ (36,673) $ 5,000 Other noncurrent assets 7,174 (6,386) 788 Derivative Liabilities Commodity contracts Derivative instruments $ 70,360 $ (36,673) $ 33,687 Other noncurrent liabilities 13,388 (6,386) 7,002 December 31, 2023 Derivative Assets Commodity contracts Derivative instruments $ 88,192 $ (17,601) $ 70,591 Other noncurrent assets 29,469 (2,435) 27,034 Derivative Liabilities Commodity contracts Derivative instruments $ 20,326 $ (17,601) $ 2,725 Other noncurrent liabilities 3,762 (2,435) 1,327 (1) The Company has agreements in place with each of its counterparties that allow for the financial right of offset for derivative assets against derivative liabilities at settlement or in the event of a default under the agreements or if contracts are terminated.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurement of Financial Instruments	The following table presents, for each applicable level within the fair value hierarchy, the Company’s net derivative assets and liabilities, including both current and noncurrent portions, measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 March 31, 2024 Total assets $ — $ 5,788 $ — Total liabilities — 40,689 — December 31, 2023 Total assets $ — $ 97,625 $ — Total liabilities — 4,052 —
Long-term Debt, Fair Value	The following table summarizes the carrying values, principal amounts and fair values of these instruments as of the periods indicated: March 31, 2024 December 31, 2023 Carrying Value Principal Amount Fair Value Carrying Value Principal Amount Fair Value Credit Facility due 2027 (1) $ 60,000 $ 60,000 $ 60,000 $ — $ — $ — 5.375% Senior Notes due 2026 (2) 287,641 289,448 286,304 287,408 289,448 285,287 7.75% Senior Notes due 2026 (2) 300,000 300,000 304,019 300,000 300,000 304,551 6.875% Senior Notes due 2027 (2) 352,876 356,351 356,315 352,619 356,351 356,852 8.00% Senior Notes due 2027 (2) 564,052 550,000 567,291 565,063 550,000 568,473 3.25% Convertible Senior Notes due 2028 (2)(3) 166,120 170,000 510,574 165,897 170,000 404,124 5.875% Senior Notes due 2029 (2) 660,113 700,000 687,945 658,562 700,000 684,705 9.875% Senior Notes due 2031 (2) 535,421 500,000 556,262 536,280 500,000 555,625 7.00% Senior Notes due 2032 (2) 983,195 1,000,000 1,036,757 982,952 1,000,000 1,030,790 (1) The carrying values of the amounts outstanding under OpCo’s Credit Agreement approximate fair value because its variable interest rates are tied to current market rates and the applicable credit spreads represent current market rates for the credit risk profile of the Company. (2) The carrying values include associated unamortized debt issuance costs and any debt discounts as reflected in the consolidated balance sheets. The fair values are determined using quoted market prices for these debt securities, a Level 1 classification in the fair value hierarchy, and are based on the aggregate principal amount of the senior notes outstanding. (3) The Convertible Senior Notes are subject to certain conditions that allow them to be convertible prior to their maturity and as of March 31, 2024, noteholders have the right to convert during the second quarter of 2024. The Company has Capped Call Transactions that cover the aggregate number of shares of Class A Common Stock that underlie the Convertible Senior Notes and would offset any cash payment OpCo is required to make in excess of the principal amount of these notes. Refer to Note 4—Long-Term Debt for additional information on the

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Dividends Declared	The following table summarizes the Company’s base and variable dividend per share of Class A Common Stock and distribution per Common Unit (each of which has an underlying share of Class C Common Stock) declared and paid during each period: Dividend/Distribution per Share Total Dividends/Distributions Declared and Paid Base Variable Total Three Months Ended, (in thousands) March 31, 2024 $ 0.05 $ 0.10 $ 0.15 $ 115,521 March 31, 2023 $ 0.05 $ — $ 0.05 $ 28,516

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Schedule of Earnings Per Share, Basic and Diluted	The following table reflects the EPS computations for the periods indicated based on a weighted average number of Class A Common Stock outstanding each period: Three Months Ended March 31, (in thousands, except per share data) 2024 2023 Net income attributable to Class A Common Stock $ 146,575 $ 102,120 Add: Interest on Convertible Senior Notes, net of tax 1,322 1,375 Adjusted net income (attributable to Class A Common Stock) $ 147,897 $ 103,495 Basic weighted average shares of Class A Common Stock outstanding 552,472 295,913 Add: Dilutive effects of Convertible Senior Notes 28,355 27,314 Add: Dilutive effects of equity awards 14,525 12,621 Diluted weighted average shares of Class A Common Stock outstanding 595,352 335,848 Basic net earnings per share of Class A Common Stock $ 0.27 $ 0.35 Diluted net earnings per share of Class A Common Stock $ 0.25 $ 0.31
Schedule of Shares Excluded from Diluted Earnings Per Share Calculation	The following table presents shares excluded from the diluted earnings per share calculation for the periods presented as their impact was anti-dilutive: Three Months Ended March 31, (in thousands) 2024 2023 Out-of-the-money stock options 540 1,914 Weighted average shares of Class C Common Stock 218,811 263,369

Transactions with Related Par_2

Transactions with Related Parties (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Revenues Recognized and Processing Fees Incurred with Related Parties	The following table summarizes the costs incurred from the arrangement during the periods it was considered a related party, as discussed above, as included in the consolidated statements of operations for the periods indicated: Three Months Ended March 31, (in thousands) 2024 2023 Streamline Lease operating expenses $ 2,059 $ 596

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Oil and Gas Revenues	Oil and gas revenues presented within the consolidated statements of operations relate to the sale of oil, natural gas and NGLs as shown below: Three Months Ended March 31, 2024 2023 Operating revenues (in thousands): Oil sales $ 1,051,642 $ 524,386 Natural gas sales (1) 38,767 32,122 NGL sales (2) 152,590 59,760 Oil and gas sales $ 1,242,999 $ 616,268 (1) Natural gas sales include a portion of gathering, processing and transportation costs (“GP&T”) that are reflected as a reduction to natural gas sales of $25.3 million for the three months ended March 31, 2024 and $11.3 million for the three months ended March 31, 2023. (2) NGL sales include a portion of GP&T that are reflected as a reduction to NGL sales of $22.9 million for the three months ended March 31, 2024 and $16.1 million for the three months ended March 31, 2023.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	$ 53,172,000	$ 33,006,000
Finance Lease, Liability, Current	758,000	753,000
Operating Lease, Liability, Noncurrent	71,898,000	28,302,000
Finance Lease, Liability, Noncurrent	14,909,000	14,821,000
Operating lease right-of-use assets	123,147,000	59,359,000
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	15,150,000	$ 15,189,000
Drilling Agreements
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	21,900,000
Operating Lease, Liability, Noncurrent	$ 43,200,000

Business Combinations and Ass_3

Business Combinations and Asset Acquisitions (Details)				3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 13, 2023 USD ($)	Feb. 16, 2023 USD ($) a	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($) $ / shares
Business Acquisition [Line Items]
Asset Acquisition, Consideration Transferred, Transaction Cost				$ 1,700,000
Proceeds from sales of oil and natural gas properties				66,000	$ 65,116,000
Proceeds from Divestiture of Businesses [Abstract]
Proceeds from sales of oil and natural gas properties				66,000	65,116,000
Contingent considerations received related to divestiture				0	$ 60,000,000
2023 Divestiture
Business Acquisition [Line Items]
Proceeds from sales of oil and natural gas properties		$ 65,000,000
Proceeds from Divestiture of Businesses [Abstract]
Proceeds from Divestiture of Businesses		125,000,000
Proceeds from sales of oil and natural gas properties		65,000,000
Contingent considerations received related to divestiture	$ 50,000,000	$ 60,000,000
2023 Acquisition | Unproved Properties
Business Acquisition [Line Items]
Property, Plant and Equipment, Additions			$ 59,500,000
2023 Acquisition
Business Acquisition [Line Items]
Merger, Number of Net Leasehold Acres | a			4,000
Merger, Net Royalty Acres | a			3,300
Asset Acquisition, Price of Acquisition, Expected			$ 98,000,000
Deferred Tax Liabilities, Net			22,800,000
Asset Acquisition, Consideration Transferred			107,300,000
Asset Acquisition, Cash and Equivalents			11,300,000
Asset Acquisition, Net Working Capital			9,800,000
2023 Acquisition | Proved Properties
Business Acquisition [Line Items]
Property, Plant and Equipment, Additions			$ 60,800,000
2024 Eddy Asset Acquisition
Business Acquisition [Line Items]
Asset Acquisition, Price of Acquisition, Expected				$ 92,000,000
Earthstone Merger Agreement
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares					$ 0.33
Business Acquisition, Pro Forma Revenue					$ 1,121,644,000
Business Acquisition, Pro Forma Net Income (Loss)					$ 149,739,000
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares					$ 0.29

Accounts Receivable, Accounts_3

Accounts Receivable, Accounts Payable and Accrued Expenses - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued oil and gas sales receivable, net	$ 390,421	$ 345,982
Joint interest billings, net	164,730	123,160
Accrued derivative settlements receivable	671	8,228
Other	1,421	3,690
Accounts receivable, net	$ 557,243	$ 481,060

Accounts Receivable, Accounts_4

Accounts Receivable, Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable	$ 43,511	$ 94,533
Accrued capital expenditures	239,440	271,569
Revenues payable	493,841	527,470
Accrued employee compensation and benefits	14,995	29,836
Accrued interest	79,050	100,882
Accrued expenses and other	106,277	143,235
Accounts payable and accrued expenses	$ 977,114	$ 1,167,525

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2022	Dec. 31, 2023	Nov. 01, 2023	Sep. 12, 2023	Sep. 01, 2022	Mar. 26, 2021	Mar. 19, 2021	May 22, 2020	Mar. 15, 2019	Nov. 30, 2017
Debt Instrument [Line Items]
Long-term debt, net	$ 3,909,418		$ 3,848,781
Senior Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs on Senior Notes	(22,340)		(23,149)
Debt Instrument, Unamortized Discount (Premium), Net	(5,959)		(6,131)
Long-term debt, net	$ 3,849,418		3,848,781
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%								5.375%		5.375%
Long-term Debt, Gross	$ 289,448		289,448
Debt Instrument, Face Amount	$ 289,400										$ 400,000
Senior Notes | 7.75% Senior Notes Due 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	7.75%					7.75%
Long-term Debt, Gross	$ 300,000		300,000
Debt Instrument, Face Amount	$ 300,000		300,000			$ 300,000
Senior Notes | Senior Notes Due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	6.875%									6.875%
Long-term Debt, Gross	$ 356,351		356,351
Debt Instrument, Face Amount	$ 356,400									$ 500,000
Senior Notes | 5.875% Senior Notes Due 2029
Debt Instrument [Line Items]
Interest rate, stated percentage	5.875%
Debt Instrument, Face Amount	$ 700,000		700,000
Senior Notes | 7.00% Senior Notes Due 2032
Debt Instrument [Line Items]
Interest rate, stated percentage					7%
Long-term Debt, Gross	1,000,000		1,000,000
Debt Instrument, Face Amount	1,000,000		1,000,000		$ 500,000
Senior Notes | 8.00% Senior Notes Due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage				8%
Long-term Debt, Gross	550,000		550,000
Debt Instrument, Face Amount				$ 550,000
Senior Notes | Senior Notes Due 2031
Debt Instrument [Line Items]
Interest rate, stated percentage				9.875%
Debt Instrument, Face Amount	$ 500,000		500,000
Convertible Senior Notes | Convertible Senior Notes Due 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	3.25%							3.25%
Long-term Debt, Gross	$ 170,000		170,000
Long-term debt, net	$ 166,100
Conversion of common shares from Class C to Class A, net of tax (in shares)	166.7965	159.2610
Debt Instrument, Face Amount			170,000				$ 20,000	$ 150,000
Convertible Senior Notes | Convertible Senior Notes Due 2028 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1		1
Convertible Senior Notes | 5.875% Senior Notes Due 2029
Debt Instrument [Line Items]
Long-term Debt, Gross	700,000		700,000
Debt Instrument, Face Amount						$ 700,000
Convertible Senior Notes | Senior Notes Due 2031
Debt Instrument [Line Items]
Long-term Debt, Gross	500,000		500,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Long-term Debt, Gross	60,000		0
Debt Instrument, Face Amount	$ 60,000		$ 0

Long-Term Debt - Credit Agreeme

Long-Term Debt - Credit Agreement (Details) - Line of Credit $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) redetermination	Apr. 25, 2024 USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, term	5 years
Line of Credit Facility, Current Borrowing Capacity	$ 4,000
Remaining borrowing capacity, net of current borrowings outstanding	$ 1,900
Number of optional borrowing base redeterminations | redetermination	2
Revolving Credit Facility | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1%
Revolving Credit Facility | Credit Spread Adjustment - SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.10%
Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.375%
Debt instrument, covenant, minimum current ratio	1
Line of Credit Facility, Current Borrowing Capacity, Elected Commitments	$ 2,000
Revolving Credit Facility | Minimum | Subsequent Event
Line of Credit Facility [Line Items]
New Line of Credit Facility, Current Borrowing Capacity, Elected Commitments		$ 2,500
Revolving Credit Facility | Minimum | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Revolving Credit Facility | Minimum | Adjusted Term - SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 6,000
Line of Credit Facility, Commitment Fee Percentage	0.50%
Debt instrument, covenant, maximum leverage ratio	3.5
Revolving Credit Facility | Maximum | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Revolving Credit Facility | Maximum | Adjusted Term - SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding	$ 5.6

Long-Term Debt - Convertible Se

Long-Term Debt - Convertible Senior Notes (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Mar. 26, 2021	Mar. 31, 2024	Dec. 31, 2022	Dec. 31, 2023	Mar. 19, 2021
Debt Instrument [Line Items]
Redemption price percentage		100%
Long-term debt, net		$ 3,909,418		$ 3,848,781
Convertible Senior Notes Due 2028 | Convertible Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 20,000			170,000	$ 150,000
Interest rate, stated percentage		3.25%			3.25%
Proceeds from borrowings, net of issuance costs	163,600
Debt issuance costs	$ 6,400
Debt Instrument, Convertible, Conversion Price		$ 6.28
Redemption price percentage		130%
Debt Instrument, Convertible, Threshold Trading Days		20
Debt Instrument, Convertible, Threshold Consecutive Trading Days		30
Debt Instrument, Convertible, Event of Default Minimum Percentage Of Aggregate Principal Amount Holders May Declare Immediately Due And Payable		25%
Long-term debt, net		$ 166,100
Conversion of common shares from Class C to Class A, net of tax (in shares)		166.7965	159.2610
Convertible Senior Notes Due 2028 | Convertible Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1		$ 1
Redemption price percentage		130%
Debt Instrument, Convertible, Threshold Trading Days		20
Debt Instrument, Convertible, Threshold Consecutive Trading Days		30
Convertible Senior Notes Due 2028 | Convertible Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Convertible, Threshold Consecutive Trading Days		10
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger		98%

Long-Term Debt - Capped Called

Long-Term Debt - Capped Called Transactions (Details) - Convertible Senior Notes Due 2028 - Convertible Senior Notes	Mar. 31, 2024 $ / shares
Line of Credit Facility [Line Items]
Debt instrument conversion strike price	$ 6.28
Debt instrument conversion cap price	$ 8.4525

Long-Term Debt - Senior Unsecur

Long-Term Debt - Senior Unsecured Notes (Details) - USD ($)								3 Months Ended
	Dec. 13, 2023	Nov. 01, 2023	Sep. 12, 2023	Sep. 01, 2022	May 22, 2020	Mar. 15, 2019	Nov. 30, 2017	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Redemption price percentage								100%
Senior Notes
Debt Instrument [Line Items]
Percentage of principal amount, eligible to be redeemed								35%
Redemption price percentage								100%
Percentage of principal amount, redeemable								65%
Debt Instrument, Redemption Period, Maximum Period Within Closing Of Offering								180 days
Debt Instrument, Redemption Price, Percentage of Principal Amount, Outstanding Amount Immediately Due And Payable								30%
Senior Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount						$ 500,000,000		$ 356,400,000
Interest rate, stated percentage						6.875%		6.875%
Private placement price as percentage of par						99.235%
Proceeds from borrowings, net of issuance costs						$ 489,000,000
Debt Instrument, Unamortized Discount						3,800,000
Debt issuance costs						7,200,000
Debt Conversion, Original Debt, Amount					$ 143,700,000
Debt Instrument, Redemption Price Percentage, Maximum								103.44%
Senior Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 400,000,000	$ 289,400,000
Interest rate, stated percentage					5.375%		5.375%	5.375%
Proceeds from borrowings, net of issuance costs							$ 391,000,000
Debt issuance costs							$ 9,000,000
Debt Conversion, Original Debt, Amount					$ 110,600,000
7.75% Senior Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 300,000,000				$ 300,000,000	$ 300,000,000
Interest rate, stated percentage				7.75%				7.75%
Private placement price as percentage of par				100%
Debt Instrument, Redemption Price Percentage, Maximum								103.88%
8.00% Second Lien Senior Secured Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage					8%
Debt Conversion, Original Debt, Amount					$ 127,100,000
7.00% Senior Notes Due 2032 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000,000					$ 1,000,000,000	1,000,000,000
Interest rate, stated percentage			7%
Proceeds from borrowings, net of issuance costs	$ 982,500,000
Debt Instrument, Unamortized Discount						2,500,000
Debt issuance costs						$ 15,000,000
Percentage of principal amount, eligible to be redeemed								40%
Redemption price percentage			107%
Percentage of principal amount, redeemable								60%
Debt Instrument, Redemption Price Percentage, Maximum								103.50%
Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Redemption Price Percentage, Minimum								100%
Senior Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 500,000,000	500,000,000
Interest rate, stated percentage		9.875%
Debt Instrument, Redemption Price Percentage, Maximum								104.94%
5.875% Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 700,000,000	$ 700,000,000
Interest rate, stated percentage								5.875%
Private placement price as percentage of par				92.96%
Debt Instrument, Unamortized Discount				$ 49,300,000
Redemption price percentage				105.875%
Debt Instrument, Redemption Price Percentage, Maximum								102.94%
9.875% Senior Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500,000,000
Private placement price as percentage of par		107.37%
Redemption price percentage		109.875%
Debt Instrument, Unamortized Premium		$ 36,800,000
8.00% Senior Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 550,000,000
Interest rate, stated percentage		8%
Private placement price as percentage of par		102.86%
Redemption price percentage		108%
Debt Instrument, Redemption Price Percentage, Maximum								106%
Debt Instrument, Unamortized Premium		$ 15,700,000

Long-Term Debt - Senior Notes (

Long-Term Debt - Senior Notes (Details) - USD ($) $ in Thousands			3 Months Ended
	Sep. 01, 2022	Mar. 15, 2019	Mar. 31, 2024	Dec. 31, 2023	Nov. 30, 2017
Debt Instrument [Line Items]
Redemption price percentage			100%
Senior Notes
Debt Instrument [Line Items]
Percentage of principal amount, event of default			25%
Redemption price percentage			100%
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Percentage of principal amount, change in control		101%
Debt Instrument, Face Amount			$ 289,400		$ 400,000
Senior Notes | Senior Notes Due 2027
Debt Instrument [Line Items]
Percentage of principal amount, change in control		101%
Debt Instrument, Face Amount		$ 500,000	356,400
Private placement price as percentage of par		99.235%
Debt Instrument, Unamortized Discount		$ 3,800
Senior Notes | 5.875% Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Face Amount			700,000	$ 700,000
Private placement price as percentage of par	92.96%
Debt Instrument, Unamortized Discount	$ 49,300
Redemption price percentage	105.875%
Senior Notes | 7.75% Senior Notes Due 2026
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000		$ 300,000	$ 300,000
Private placement price as percentage of par	100%
Convertible Senior Notes | 5.875% Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 700,000

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations, beginning of period	$ 121,417
Liabilities incurred	3,507
Liabilities acquired	3,640
Liabilities divested and settled	(2,549)
Accretion expense	2,145
Asset retirement obligations, end of period	$ 128,160

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands			3 Months Ended
	Feb. 20, 2024 shares	May 23, 2023 shares	Mar. 31, 2024 USD ($) employee $ / shares shares	Mar. 31, 2023 USD ($) employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares			0
Share-based Payment Arrangement, Expense | $			$ 9,631	$ 17,871
Number of Employees Terminated | employee			0	9
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value per share | $ / shares			$ 14.39
Fair value of vested restricted stock awards | $			$ 1,000	$ 8,300
Unrecognized compensation costs | $			$ 45,000
Unrecognized compensation costs, period for recognition			2 years 7 months 6 days
Number of PSUs granted | shares			1,712,892
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares			109,510
Share-based Payment Arrangement, Expense | $			$ 4,586	10,673
Stock option awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised | $			55
Share-based Payment Arrangement, Expense | $			$ 0	1
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value per share | $ / shares			$ 24.81
Unrecognized compensation costs | $			$ 56,500
Unrecognized compensation costs, period for recognition			2 years 6 months
Number of PSUs granted | shares			662,455
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares			0
Share-based Payment Arrangement, Expense | $			$ 5,045	$ 7,197
Unvested balanced, end of period | shares			5,681,880
2016 Long Term Incentive Plan | Stock option awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Option expiration period			10 years
2023 Long Term Incentive Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares	71,718,560	69,250,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | shares	2,468,560	25,000,000
Director | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Minimum | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Minimum | Officer and employees | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Maximum | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Maximum | Officer and employees | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) employee	Mar. 31, 2023 USD ($) employee
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	$ 9,631	$ 17,871
Plan modification, incremental cost		$ 6,300
Number of Employees Terminated | employee	0	9
Restricted stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	$ 4,586	$ 10,673
Stock option awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	0	1
Performance stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	$ 5,045	$ 7,197

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock (Details) - Restricted stock	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Stock
Unvested balance, beginning of period | shares	3,821,231
Number of PSUs granted | shares	1,712,892
Vested | shares	(109,510)
Forfeited | shares	(64,663)
Unvested balance, end of period | shares	5,359,950
Weighted Average Fair Value
Unvested balance, beginning balance | $ / shares	$ 8.58
Granted | $ / shares	14.39
Vested | $ / shares	9.15
Forfeited | $ / shares	7.95
Unvested balance, ending balanced | $ / shares	$ 10.45

Stock-Based Compensation - Opti

Stock-Based Compensation - Option Activity (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Options
Outstanding, beginning of period (in shares) | shares	681,699
Granted (in shares) | shares	0
Option exercises (in shares) | shares	7,500
Forfeited (in shares) | shares	0
Expired (in shares) | shares	(25,000)
Outstanding, end of period (in shares) | shares	649,199
Exercisable (in shares) | shares	649,199
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 16.64
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	7.58
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	18.60
Outstanding, end of period (in dollars per share) | $ / shares	16.67
Exercisable, Weighted Average Exercise Price | $ / shares	$ 16.67
Outstanding, weighted average remaining term	3 years 6 months
Exercisable, weighted average remaining term	3 years 6 months
Outstanding, aggregate intrinsic value | $	$ 1,189,000
Exercisable, aggregate intrinsic value | $	$ 1,189,000

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions For Performance Stock Units (Details) - Performance stock units	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of PSUs granted | shares	662,455
Fair value per share | $ / shares	$ 24.81
Expected implied stock volatility	43.90%
Risk-free interest rate	4.30%

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Stock Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 9,631	$ 17,871
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested balance, beginning of period			5,019,425
Granted	662,455
Vested	0
Forfeited	0
Unvested balanced, end of period	5,681,880
Fair value, beginning & ending of period	$ 16.30		$ 15.18
Granted	24.81
Vested	0
Forfeited	$ 0
Share-based Payment Arrangement, Expense	$ 5,045	$ 7,197

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments (Details) - Not Designated as Hedging Instrument	3 Months Ended
	Mar. 31, 2024 MMBTU bbl / d $ / bbl $ / MMBTU bbl
Crude Oil Basis Swap - Period One [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.97
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	40,539
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,689,018
Crude Oil Basis Swap - Period Two [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.97
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	41,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,772,000
Crude Oil Basis Swap - Period Three [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.97
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	41,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,772,000
Crude Oil Basis Swap - Period Four [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.09
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,845,000
Crude Oil Basis Swap - Period Five
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.09
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,865,500
Crude Oil Basis Swap - Period Six
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.09
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,886,000
Crude Oil Basis Swap - Period Seven
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.09
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,886,000
Crude Oil Roll Differential Swap - Period One
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.48
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	40,209
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,659,018
Crude Oil Roll Differential Swap - Period Two
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.49
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	41,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,772,000
Crude Oil Roll Differential Swap - Period Three
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.49
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	41,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,772,000
Crude Oil Roll Differential Swap - Period Four
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.39
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,845,000
Crude Oil Roll Differential Swap - Period Five
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.39
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,865,500
Crude Oil Roll Differential Swap - Period Six
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.39
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,886,000
Crude Oil Roll Differential Swap - Period Seven
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.39
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,886,000
Natural Gas Swaps - Henry Hub - Period One
Derivative [Line Items]
Volume (MMBtu) | MMBTU	5,906,321
Volume (MMBtu/d) | MMBTU	64,905
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.29
Natural Gas Swaps - Henry Hub - Period Two [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	5,949,388
Volume (MMBtu/d) | MMBTU	64,667
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.43
Natural Gas Swaps - Henry Hub - Period Three [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	5,933,899
Volume (MMBtu/d) | MMBTU	64,499
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.86
Natural Gas Swaps - Henry Hub - Period Four [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	3,600,000
Volume (MMBtu/d) | MMBTU	40,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	4.32
Natural Gas Swaps - Henry Hub - Period Five [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	3,640,000
Volume (MMBtu/d) | MMBTU	40,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.65
Natural Gas Basis Swap - Period One [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.99
Volume (MMBtu) | MMBTU	10,920,000
Volume (MMBtu/d) | MMBTU	120,000
Natural Gas Basis Swap - Period two
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.99
Volume (MMBtu) | MMBTU	11,040,000
Volume (MMBtu/d) | MMBTU	120,000
Natural Gas Basis Swap - Period Three
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.98
Volume (MMBtu) | MMBTU	11,040,000
Volume (MMBtu/d) | MMBTU	120,000
Natural Gas Basis Swap - Period Four
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,600,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Basis Swap - Period Five
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,640,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Collars - Period One
Derivative [Line Items]
Derivative, Average Floor Price	2.68
Volume (MMBtu) | MMBTU	5,013,679
Volume (MMBtu/d) | MMBTU	55,095
Derivative, Average Cap Price	5.04
Natural Gas Collars - Period Two [Member]
Derivative [Line Items]
Derivative, Average Floor Price	2.68
Volume (MMBtu) | MMBTU	5,090,612
Volume (MMBtu/d) | MMBTU	55,333
Derivative, Average Cap Price	5.06
Natural Gas Collars - Period Three
Derivative [Line Items]
Derivative, Average Floor Price	2.75
Volume (MMBtu) | MMBTU	5,106,101
Volume (MMBtu/d) | MMBTU	55,501
Derivative, Average Cap Price	5.29
Crude Oil Deferred Premium Puts - Period One
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	65
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	227,500
Derivative, Cap Price	4.96
Crude Oil Deferred Premium Puts - Period Two
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	65
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	230,000
Derivative, Cap Price	4.96
Crude Oil Deferred Premium Puts - Period Three
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	65
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	230,000
Derivative, Cap Price	4.96
Natural Gas Basis Swap - Period Six
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Swaps - Henry Hub - Period Six
Derivative [Line Items]
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.83
Natural Gas Basis Swap - Period Seven
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Swaps - Henry Hub - Period Seven
Derivative [Line Items]
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	4.20
NYMEX WTI [Member] | Crude Oil Swap - Period One [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	76.71
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	36,698
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,339,500
NYMEX WTI [Member] | Crude Oil Swap - Period Two [Domain]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	75.64
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	36,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,358,000
NYMEX WTI [Member] | Crude Oil Swap - Period Three [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	74.61
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	36,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,358,000
NYMEX WTI [Member] | Crude Oil Swap - Period Four [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	73.62
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,845,000
NYMEX WTI [Member] | Crude Oil Swap - Period Five [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	72.46
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,865,500
NYMEX WTI [Member] | Crude Oil Swap - Period Six
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	71.35
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,886,000
NYMEX WTI [Member] | Crude Oil Swap - Period Seven
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	70.38
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	20,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,886,000
NYMEX WTI [Member] | Crude Oil Swap - Period Eight
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	70.57
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	1,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	135,000
NYMEX WTI [Member] | Crude Oil Swap - Period Nine
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	69.69
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	1,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	136,500
NYMEX WTI [Member] | Crude Oil Collars - Period One [Member]
Derivative [Line Items]
Derivative, Average Floor Price	60
Derivative, Average Cap Price	76.01
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	182,000
NYMEX WTI [Member] | Crude Oil Swap - Period Ten
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	68.86
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	1,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	138,000
NYMEX WTI [Member] | Crude Oil Swap - Period Eleven
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	68.16
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	1,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	138,000
NYMEX WTI [Member] | Crude Oil Collars - Period Three
Derivative [Line Items]
Derivative, Average Floor Price	60
Derivative, Average Cap Price	76.01
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	184,000
NYMEX WTI [Member] | Crude Oil Collars - Period Two
Derivative [Line Items]
Derivative, Average Floor Price	60
Derivative, Average Cap Price	76.01
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	184,000

Derivative Instruments - Gains

Derivative Instruments - Gains and Losses from Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gain (loss) on derivative instruments	$ (121,129)	$ 54,512

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Instruments Balance Sheet Classification (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivative instruments
Derivative Assets
Gross Fair Value Asset/Liability Amounts	$ 41,673	$ 88,192
Gross Amounts Offset	(36,673)	(17,601)
Net Recognized Fair Value Assets/Liabilities	5,000	70,591
Noncurrent Assets [Member]
Derivative Assets
Gross Fair Value Asset/Liability Amounts	7,174	29,469
Gross Amounts Offset	(6,386)	(2,435)
Net Recognized Fair Value Assets/Liabilities	788	27,034
Derivative instruments
Derivative Liabilities
Gross Fair Value Asset/Liability Amounts	70,360	20,326
Gross Amounts Offset	(36,673)	(17,601)
Net Recognized Fair Value Assets/Liabilities	33,687	2,725
Non Current Liabilities [Member]
Derivative Liabilities
Gross Fair Value Asset/Liability Amounts	13,388	3,762
Gross Amounts Offset	(6,386)	(2,435)
Net Recognized Fair Value Assets/Liabilities	$ 7,002	$ 1,327

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Derivative Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 0	$ 0
Derivative Liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	5,788	97,625
Derivative Liability	40,689	4,052
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0	0
Derivative Liability	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value of Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Nov. 01, 2023	Sep. 12, 2023	Sep. 01, 2022	Mar. 26, 2021	Mar. 19, 2021	May 22, 2020	Mar. 15, 2019	Nov. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	$ 3,909,418	$ 3,848,781
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	$ 3,849,418	3,848,781
Senior Notes Due 2026 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	5.375%							5.375%		5.375%
Long-term Debt, Gross	$ 289,448	289,448
Debt Instrument, Face Amount	289,400									$ 400,000
Fair value of debt instrument	$ 286,304	285,287
Senior Notes Due 2027 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	6.875%								6.875%
Long-term Debt, Gross	$ 356,351	356,351
Debt Instrument, Face Amount	356,400								$ 500,000
Fair value of debt instrument	$ 356,315	356,852
Convertible Senior Notes Due 2028 | Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.25%						3.25%
Long-term Debt, Gross	$ 170,000	170,000
Long-term debt, net	166,100
Debt Instrument, Face Amount		170,000				$ 20,000	$ 150,000
Fair value of debt instrument	$ 510,574	404,124
7.75% Senior Notes Due 2026 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	7.75%				7.75%
Long-term Debt, Gross	$ 300,000	300,000
Debt Instrument, Face Amount	300,000	300,000			$ 300,000
Fair value of debt instrument	$ 304,019	304,551
5.875% Senior Notes Due 2029 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	5.875%
Debt Instrument, Face Amount	$ 700,000	700,000
Fair value of debt instrument	687,945	684,705
5.875% Senior Notes Due 2029 | Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	700,000	700,000
Debt Instrument, Face Amount					$ 700,000
7.00% Senior Notes Due 2032 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage				7%
Long-term Debt, Gross	1,000,000	1,000,000
Debt Instrument, Face Amount	1,000,000	1,000,000		$ 500,000
Fair value of debt instrument	1,036,757	1,030,790
Senior Notes Due 2031 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage			9.875%
Debt Instrument, Face Amount	500,000	500,000
Fair value of debt instrument	556,262	555,625
Senior Notes Due 2031 | Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	500,000	500,000
8.00% Senior Notes Due 2027 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage			8%
Long-term Debt, Gross	550,000	550,000
Debt Instrument, Face Amount			$ 550,000
Fair value of debt instrument	567,291	568,473
Revolving Credit Facility | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	60,000	0
Debt Instrument, Face Amount	60,000	0
Fair value of debt instrument	60,000	0
Carrying Value | Senior Notes Due 2026 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	287,641	287,408
Carrying Value | Senior Notes Due 2027 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	352,876	352,619
Carrying Value | Convertible Senior Notes Due 2028 | Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	166,120	165,897
Carrying Value | 7.75% Senior Notes Due 2026 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	300,000	300,000
Carrying Value | 5.875% Senior Notes Due 2029 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	660,113	658,562
Carrying Value | 7.00% Senior Notes Due 2032 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	983,195	982,952
Carrying Value | Senior Notes Due 2031 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	535,421	536,280
Carrying Value | 8.00% Senior Notes Due 2027 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	564,052	565,063
Carrying Value | Revolving Credit Facility | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	$ 60,000	$ 0

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Sep. 01, 2022
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	1,500,000,000
Share repurchases	$ (31,400)	$ (29,400)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.15	$ 0.05
Cash dividends and NCI distributions	$ 115,521	$ 28,516
Base Dividend
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.05	$ 0.05
Variable Dividend
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.10	$ 0
OpCo
Class of Stock [Line Items]
Ownership interest of non-controlling interest	24%		30%
Class A
Equity [Abstract]
Common stock, shares issued (in shares)	587,622,487		544,610,984
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	582,262,542		540,789,758
Class A | Common Stock
Equity [Abstract]
Common stock, shares issued (in shares)	587,622,000	321,724,000	544,611,000	298,640,000
Class of Stock [Line Items]
Conversion of common shares from Class C to Class A, net of tax (in shares)	41,356,000	20,906,000
Class A | Conversion of Class C Common Stock to Class A Common Stock | Common Stock
Class of Stock [Line Items]
Conversion of Shares, Tax Expense (Benefit)	$ 26,300	$ 2,400
Conversion of common shares from Class C to Class A, net of tax (in shares)	41,400,000	20,900,000
Class A | Repurchase Program
Equity [Abstract]
Stock repurchase program, authorized amount					$ 500,000
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 500,000
Class C
Equity [Abstract]
Common stock, shares issued (in shares)	187,607,059		230,962,833
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	187,607,059		230,962,833
Class C | Common Stock
Equity [Abstract]
Common stock, shares issued (in shares)	187,607,000	245,644,000	230,963,000	269,300,000
Class of Stock [Line Items]
Conversion of common shares from Class C to Class A, net of tax (in shares)	(41,356,000)	(20,906,000)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income attributable to Class A Common Stock	$ 146,575	$ 102,120
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities	1,322	1,375
Net Income (Loss) Available to Common Stockholders, Diluted	$ 147,897	$ 103,495
Basic weighted average shares of Class A Common Stock outstanding (in shares)	552,472	295,913
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	14,525	12,621
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	28,355	27,314
Diluted weighted average shares of Class A Common Stock outstanding (in shares)	595,352	335,848
Basic net earnings per share of Class A Common Stock (USD per share)	$ 0.27	$ 0.35
Diluted net earnings per share of Class A Common Stock (USD per share)	$ 0.25	$ 0.31

Earnings Per Share - Summary of

Earnings Per Share - Summary of Shares Excluded From Diluted Earnings Per Share Calculation (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Out-of-the-money stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-diluted shares excluded from computation of earnings per share (in shares)	540	1,914
Class C
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-diluted shares excluded from computation of earnings per share (in shares)	218,811	263,369

Transactions with Related Par_3

Transactions with Related Parties - Schedule of Revenues Recognized and Processing Fees Incurred with Related Parties (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Stock Repurchased and Retired During Period, Shares	2	2.8
Share repurchases	$ (31,400)	$ (29,400)
Accounts receivable, net	557,243		$ 481,060
Oil and gas sales	1,242,999	616,268
Streamline | Affiliated Entity
Related Party Transaction [Line Items]
Costs and Expenses, Related Party	$ 2,059	$ 596

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Supply Commitment [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 6,500

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 1,242,999	$ 616,268
Oil sales
Disaggregation of Revenue [Line Items]
Oil and gas sales	1,051,642	524,386
Natural gas sales(1)
Disaggregation of Revenue [Line Items]
Oil and gas sales	38,767	32,122
NGL sales(2)
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 152,590	$ 59,760

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 1,242,999	$ 616,268
Accrued oil and gas sales receivable, net	$ 390,400		$ 346,000
Natural Gas and NGL sales | Minimum
Disaggregation of Revenue [Line Items]
Performance obligations billing cycle	30 days
Natural Gas and NGL sales | Maximum
Disaggregation of Revenue [Line Items]
Performance obligations billing cycle	60 days
Oil sales
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 1,051,642	524,386
NGL sales(2)
Disaggregation of Revenue [Line Items]
Oil and gas sales	152,590	59,760
Reduction to NGL	22,900	16,100
Natural gas sales(1)
Disaggregation of Revenue [Line Items]
Oil and gas sales	38,767	32,122
Reduction to NGL	$ 25,300	$ 11,300

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	May 07, 2024 $ / shares
Subsequent Event [Line Items]
Base and Variable Dividend, Return, Amount	$ 0.20
Class A
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	0.06
Class A | Variable Cash Dividend
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	0.14
Common Unit Of OpCo.
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	0.06
Common Unit Of OpCo. | Variable Cash Dividend
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	$ 0.14