Permian Resources (PR) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 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		803,364,251
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 272,026	$ 73,290
Accounts receivable, net	439,338	481,060
Derivative instruments	130,170	70,591
Prepaid and other current assets	24,004	25,451
Total current assets	865,538	650,392
Oil and natural gas properties, successful efforts method
Unproved properties	2,275,707	2,401,317
Proved properties	17,790,218	15,036,687
Accumulated depreciation, depletion and amortization	(4,680,984)	(3,401,895)
Total oil and natural gas properties, net	15,384,941	14,036,109
Other property and equipment, net	46,303	43,647
Total property and equipment, net	15,431,244	14,079,756
Noncurrent assets
Operating lease right-of-use assets	111,783	59,359
Other noncurrent assets	207,028	176,071
TOTAL ASSETS	16,615,593	14,965,578
Current liabilities
Accounts payable and accrued expenses	1,160,446	1,167,525
Operating Lease, Liability, Current	52,329	33,006
Other current liabilities	59,190	41,022
Total current liabilities	1,271,965	1,241,553
Noncurrent liabilities
Long-term debt, net	4,184,259	3,848,781
Asset retirement obligations	140,366	121,417
Deferred income taxes	539,460	422,627
Operating Lease, Liability, Noncurrent	61,301	28,302
Other Liabilities, Noncurrent	54,510	73,150
Total liabilities	6,251,861	5,735,830
Commitments and contingencies (Note 12)
Shareholders’ equity
Additional paid-in capital	8,025,933	5,766,881
Retained earnings (accumulated deficit)	971,897	569,139
Total shareholders' equity	8,997,911	6,336,097
Noncontrolling interest	1,365,821	2,893,651
Total equity	10,363,732	9,229,748
TOTAL LIABILITIES AND EQUITY	16,615,593	14,965,578
Class A
Shareholders’ equity
Common stock	71	54
Class C
Shareholders’ equity
Common stock	$ 10	$ 23

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)	$ 0.0001
Common stock, shares authorized (in shares)	1,500,000,000
Class A
Common stock, shares issued (in shares)	706,521,280	544,610,984
Common stock, shares outstanding (in shares)	702,890,671	540,789,758
Class C
Common stock, shares issued (in shares)	100,409,546	230,962,833
Common stock, shares outstanding (in shares)	100,409,546	230,962,833

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Oil and gas sales	$ 1,215,571	$ 758,541	$ 3,704,653	$ 1,998,207
Operating expenses
Lease operating expenses	173,255	85,810	501,597	243,333
Severance and ad valorem taxes	91,548	58,942	280,784	156,378
Gathering, processing and transportation expenses	50,220	20,731	133,020	57,966
Depreciation, depletion and amortization	453,603	236,204	1,290,210	640,149
General and administrative expenses	43,783	34,519	129,885	122,729
Merger and integration expense	0	10,422	18,064	28,071
Impairment and abandonment expense	1,380	245	7,784	734
Exploration and other expenses	6,962	5,031	24,428	14,668
Total operating expenses	820,751	451,904	2,385,772	1,264,028
Net gain on sale of long-lived assets	329	63	441	129
Income from operations	395,149	306,700	1,319,322	734,308
Other income (expense)
Interest expense	(79,934)	(40,582)	(227,973)	(114,185)
Net gain (loss) on derivative instruments	238,533	(151,781)	131,702	(76,668)
Other income (expense)	9,247	246	9,676	685
Total other income (expense)	167,846	(192,117)	(86,595)	(190,168)
Income before income taxes	562,995	114,583	1,232,727	544,140
Income tax expense	(106,468)	(16,254)	(237,697)	(77,056)
Net income	456,527	98,329	995,030	467,084
Less: Net income attributable to noncontrolling interest	(70,151)	(52,896)	(226,979)	(246,132)
Net income attributable to Class A Common Stock	$ 386,376	$ 45,433	$ 768,051	$ 220,952
Income per share of Class A Common Stock:
Basic (USD per share)	$ 0.56	$ 0.14	$ 1.24	$ 0.71
Diluted (USD per share)	$ 0.53	$ 0.13	$ 1.16	$ 0.64

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income		$ 995,030	$ 467,084
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization		1,290,210	640,149
Stock-based compensation expense		46,713	69,585
Impairment and abandonment expense		7,784	734
Deferred tax expense		228,762	73,453
Net (gain) loss on sale of long-lived assets		(441)	(129)
Non-cash portion of derivative (gain) loss		(91,362)	165,573
Amortization of debt issuance costs, discount and premium		4,752	11,858
Loss on extinguishment of debt		8,585	0
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable		52,567	(57,787)
(Increase) decrease in prepaid and other assets		(6,828)	(27,810)
Increase (decrease) in accounts payable and other liabilities		4,618	24,795
Net cash provided by operating activities		2,540,390	1,367,505
Cash flows from investing activities:
Acquisition of oil and natural gas properties, net		(1,016,089)	(116,869)
Drilling and development capital expenditures		(1,556,208)	(1,066,693)
Purchases of other property and equipment		(7,101)	(30,828)
Contingent considerations received related to divestiture		0	60,000
Proceeds from sales of oil and natural gas properties		15,579	59,203
Net cash used in investing activities		(2,563,819)	(1,095,187)
Cash flows from financing activities:
Proceeds from equity offering, net		402,211	0
Proceeds from borrowings under revolving credit facility		1,965,000	1,050,000
Repayment of borrowings under revolving credit facility		(1,965,000)	(1,435,000)
Proceeds from issuance of senior notes		1,000,000	500,000
Debt issuance and redemption costs		(22,582)	(6,950)
Redemption of senior notes		(656,351)	0
Proceeds from exercise of stock options		257	514
Share repurchases		(61,048)	(95,448)
Dividends paid		(361,402)	(80,793)
Distributions paid to noncontrolling interest owners		(78,889)	(62,296)
Net cash used in financing activities		222,196	(129,973)
Net increase (decrease) in cash, cash equivalents and restricted cash		198,767	142,345
Cash, cash equivalents and restricted cash, beginning of period		73,864	69,932
Cash, cash equivalents and restricted cash, end of period		272,631	212,277
Supplemental cash flow information
Cash paid for interest		239,979	119,469
Cash paid for income taxes		6,818	3,603
Stock Issued		100,371	0
Supplemental non-cash activity
Accrued capital expenditures included in accounts payable and accrued expenses		309,607	233,160
Deferred tax liability assumed in asset acquisition		0	24,801
Asset retirement obligations incurred, including revisions to estimates		28,011	1,908
Dividends payable		7,394	2,509
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents		272,026	211,703
Restricted cash	[1]	605	574
Total cash, cash equivalents and restricted cash		$ 272,631	$ 212,277
[1]Included in Prepaid and other current assets as of September 30, 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	Total Shareholders’ Equity Class A	Common Stock Class A	Common Stock Class C	Additional Paid-In Capital	Additional Paid-In Capital Class A	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)							(2,750,000)
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, 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]
Share repurchase (in shares)	(5,000,000)
Net income	$ 467,084
Shares issued, ending (in shares) at Sep. 30, 2023						354,471,000	215,223,000
Balance at end of period at Sep. 30, 2023	5,966,936			3,654,836		$ 35	$ 22	3,278,846		375,933	2,312,100
Balance at beginning of period at Mar. 31, 2023	5,808,686			3,215,262		$ 32	$ 25	2,891,528		323,677	2,593,424
Shares issued, beginning (in shares) at Mar. 31, 2023						321,724,000	245,644,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)						373,000
Restricted stock forfeited (in shares)						(357,000)
Share repurchases (in shares)						(602,000)
Share repurchases - Class A	(5,949)			(5,949)		$ 1		(5,948)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture						$ 1		(1)
Performance stock vested and issued (in shares)						3,290,000
Stock-based compensation	35,694			35,694				35,694
Stock option exercises (in shares)						7,000
Stock option exercises	(1)			(1)				(1)
Dividends	(33,195)			(33,195)						(33,195)
Distributions to noncontrolling interest owners	(24,558)										(24,558)
Conversion of common shares from Class C to Class A, net of tax (in shares)						1,011,000	(1,011,000)
Conversion of common shares from Class C to Class A, net of tax	57			10,882		$ 1	$ (1)	10,882			(10,825)
Equity impact from transactions effecting Common Units, net of tax expense	(3,678)			12,631				12,631			(16,309)
Net income	148,954			73,399						73,399	75,555
Shares issued, ending (in shares) at Jun. 30, 2023						325,446,000	244,633,000
Balance at end of period at Jun. 30, 2023	5,926,010			3,308,723		$ 33	$ 24	2,944,785		363,881	2,617,287
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)						174,000
Restricted stock forfeited (in shares)						(65,000)
Share repurchase (in shares)							(2,200,000)
Share repurchases - Class C	(27,921)										(27,921)
Performance stock vested and issued (in shares)						1,676,000
Stock-based compensation	16,020			16,020				16,020
Stock option exercises (in shares)						30,000
Stock option exercises	284			284				284
Dividends	(33,381)			(33,381)						(33,381)
Distributions to noncontrolling interest owners	(24,413)										(24,413)
Conversion of common shares from Class C to Class A, net of tax (in shares)						27,210,000	(27,210,000)
Conversion of common shares from Class C to Class A, net of tax	14,106			310,551		$ 2	$ (2)	310,551			(296,445)
Equity impact from transactions effecting Common Units, net of tax expense	(2,098)			7,206				7,206			(9,304)
Net income	98,329			45,433						45,433	52,896
Shares issued, ending (in shares) at Sep. 30, 2023						354,471,000	215,223,000
Balance at end of period at Sep. 30, 2023	5,966,936			3,654,836		$ 35	$ 22	3,278,846		375,933	2,312,100
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)
Share repurchases - Class C	(31,492)										(31,492)
Stock-based compensation	9,631			9,631				9,631
Stock option exercises (in shares)						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						587,622,000	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
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]
Share repurchase (in shares)	(3,800,000)
Stock option exercises (in shares)	22,666
Net income	$ 995,030
Shares issued, ending (in shares) at Sep. 30, 2024		706,521,280	100,409,546			706,521,000	100,410,000
Balance at end of period at Sep. 30, 2024	10,363,732			8,997,911		$ 71	$ 10	8,025,933		971,897	1,365,821
Balance at beginning of period at Mar. 31, 2024	9,348,196			6,958,081		$ 59	$ 19	6,331,073		626,930	2,390,115
Shares issued, beginning (in shares) at Mar. 31, 2024						587,622,000	187,607,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)						410,000
Restricted stock issued						$ 0		0
Stock Issued During Period, Value, New Issues	100,371				$ 100,371				$ 100,371
Issuance of Class C Common Stock (in shares)						6,242,000
Restricted stock forfeited (in shares)						(352,000)
Share repurchase (in shares)							(1,800,000)
Share repurchases - Class C	(29,556)										(29,556)
Performance stock vested and issued (in shares)						457,000
Stock-based compensation	22,976			22,976				22,976
Stock option exercises (in shares)						15,000
Stock option exercises	199			199				199
Dividends	(126,996)			(126,996)						(126,996)
Distributions to noncontrolling interest owners	(29,421)										(29,421)
Conversion of common shares from Class C to Class A, net of tax (in shares)						85,104,000	(85,104,000)
Conversion of common shares from Class C to Class A, net of tax	63,348			1,162,903		$ 9	$ (9)	1,162,903			(1,099,555)
Equity impact from transactions effecting Common Units, net of tax expense	1,897			(6,470)				(6,470)			8,367
Net income	308,908			235,100						235,100	73,808
Shares issued, ending (in shares) at Jun. 30, 2024						679,498,000	100,703,000
Balance at end of period at Jun. 30, 2024	9,659,922			8,346,164		$ 68	$ 10	7,611,052		735,034	1,313,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)						126,000
Stock Issued During Period, Value, New Issues	402,211				$ 402,211	$ 3			$ 402,208
Issuance of Class C Common Stock (in shares)						26,500,000
Restricted stock forfeited (in shares)						(148,000)
Performance stock vested and issued (in shares)						252,000
Stock-based compensation	14,106			14,106				14,106
Dividends	(149,513)			(149,513)						(149,513)
Distributions to noncontrolling interest owners	(21,140)										(21,140)
Conversion of common shares from Class C to Class A, net of tax (in shares)						293,000	(293,000)
Conversion of common shares from Class C to Class A, net of tax	45			3,928		$ 0	$ 0	3,928			(3,883)
Equity impact from transactions effecting Common Units, net of tax expense	1,574			(5,361)				(5,361)			6,935
Net income	456,527			386,376						386,376	70,151
Shares issued, ending (in shares) at Sep. 30, 2024		706,521,280	100,409,546			706,521,000	100,410,000
Balance at end of period at Sep. 30, 2024	$ 10,363,732			$ 8,997,911		$ 71	$ 10	$ 8,025,933		$ 971,897	$ 1,365,821

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Equity impact, tax expense (benefit)	$ 1,600	$ 1,900	$ 1,500	$ 2,100	$ 3,700	$ 3,000

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 contracts based on the present value of the future lease payments of the drilling rigs over the lease terms. As of September 30, 2024, the Company had recorded in aggregate $22.5 million and $31.8 million of current and noncurrent operating lease liabilities, respectively, related to these drilling rig contracts. The following table provides additional information related to the Company’s lease assets and liabilities as presented on the balance sheet for the periods presented: (in thousands) Balance Sheet Classification September 30, 2024 December 31, 2023 Assets Operating right-of-use assets Operating lease right-of-use assets $ 111,783 $ 59,359 Finance right-of-use asset Other noncurrent assets 15,072 15,189 Liabilities Current Operating lease liabilities Operating lease liabilities $ 52,329 $ 33,006 Finance lease liability Other current liabilities 767 753 Noncurrent Operating lease liabilities Operating lease liabilities $ 61,301 $ 28,302 Finance lease liability Other noncurrent liabilities 15,080 14,821 There have been no other significant changes in leases during the nine months ended September 30, 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 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 generated by OpCo is passed through to and included in the taxable income of its members, including the Company, on a pro rata basis.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Note 2—Acquisitions and Divestitures 2024 Bolt-On Acquisition On September 17, 2024, the Company completed its acquisition of oil and gas properties with certain affiliates of Occidental Petroleum Corporation for total cash consideration of $743.5 million, subject to customary post-closing purchase price adjustments (the “Bolt-On Acquisition”). The Bolt-On Acquisition included approximately 29,500 net leasehold acres and approximately 9,900 net royalty acres that are predominately located directly offsetting the Company’s existing assets in Reeves County, Texas, as well as Eddy County, New Mexico. Additionally, the acquired assets in Reeves County include a fully integrated midstream system, consisting of over 100 miles of operated oil and gas gathering systems, approximately 10,000 surface acres, and water infrastructure including saltwater disposal wells, a recycling facility, frac ponds and water wells. The Bolt-On Acquisition was completed to drive long-term accretion across the Company’s key financial and operating metrics, enhance shareholder returns and add core inventory locations to the Company’s existing position in the Permian Basin. Purchase Price Allocation The Bolt-On Acquisition has been accounted for as a business combination using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”). Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the acquisition closing date, which requires judgment and certain estimates and assumptions to be made. Oil and natural gas properties were valued using an income based approach, which incorporates a discounted cash flow method. The pro forma impact of this business combination to revenues and net income is not disclosed as it was deemed not to have a material impact on the Company’s results of operations. As of the date of this filing, the fair value of assets acquired and liabilities assumed are preliminary and not complete as adjustments may be made. The Company expects to complete the purchase price allocation during the 12-month period subsequent to the Bolt-On Acquisition closing date. The following table represents the preliminary consideration and purchase price allocation of the identifiable assets acquired and the liabilities assumed based on their respective fair values as of the closing date of the business combination. (in thousands, except share and per share data) Bolt-On Acquisition Consideration Total cash consideration given $ 743,496 Fair value of assets acquired: Preliminary Purchase Price Allocation Accounts receivable, net $ 5,556 Oil and natural gas properties, net 770,449 Total assets acquired $ 776,005 Fair value of liabilities assumed: Accounts payable and accrued expenses $ 17,355 Asset retirement obligations 15,154 Total liabilities assumed $ 32,509 Net assets acquired $ 743,496 2024 Asset Acquisitions During the nine months ended September 30, 2024, the Company completed multiple acquisitions of oil and natural gas properties for a cumulative adjusted purchase price of approximately $363 million. These transactions were recorded as asset acquisitions in accordance with ASC 805. 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 fourth quarter of 2024. There were no significant adjustments to the purchase price allocation during the nine months ended September 30, 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 and nine months ended September 30, 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 September 30, 2023 Nine Months Ended September 30, 2023 Total Revenue $ 1,283,969 $ 3,519,042 Net Income 137,779 432,571 Earnings per share: Basic $ 0.29 $ 0.92 Diluted 0.25 0.79 2023 SWD Divestiture On March 13, 2023, the Company completed the sale of its operated saltwater disposal wells and the associated produced water infrastructure in Reeves County, Texas. The total cash consideration received at closing was $125 million of which $65 million was directly related to the sale and transfer of control of its water assets, while the remaining $60 million consisted of contingent consideration that is tied to the Company’s future drilling, completion and water connection activity in Reeves County, Texas. The $60 million of contingent consideration will require repayment if certain performance obligations through September 2026 are not met, and it has been recorded as a liability within the Company’s consolidated balance sheet accordingly. All performance obligations have been met during the payment periods and as of September 30, 2024, the remaining balance of the contingent consideration was $40 million. There was no gain or loss recognized as a result of this divestiture.

Accounts Receivable, Accounts P

Accounts Receivable, Accounts Payable and Accrued Expenses	9 Months Ended
	Sep. 30, 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) September 30, 2024 December 31, 2023 Accrued oil and gas sales receivable, net $ 227,244 $ 345,982 Joint interest billings, net 194,170 123,160 Accrued derivative settlements receivable 11,671 8,228 Other 6,253 3,690 Accounts receivable, net $ 439,338 $ 481,060 Accounts payable and accrued expenses are comprised of the following: (in thousands) September 30, 2024 December 31, 2023 Accounts payable $ 105,983 $ 94,533 Accrued capital expenditures 255,026 271,569 Revenues payable 551,629 527,470 Accrued employee compensation and benefits 19,801 29,836 Accrued interest 73,880 100,882 Accrued expenses and other 154,127 143,235 Accounts payable and accrued expenses $ 1,160,446 $ 1,167,525

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 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) September 30, 2024 December 31, 2023 Credit Facility $ — $ — Senior Notes 5.375% Senior Notes due 2026 289,448 289,448 7.75% Senior Notes due 2026 — 300,000 6.875% Senior Notes due 2027 — 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 6.25% Senior Notes due 2033 1,000,000 — Unamortized debt issuance costs on Senior Notes (31,804) (23,149) Unamortized debt (discount)/premium 6,615 6,131 Senior Notes, net 4,184,259 3,848,781 Total long-term debt, net $ 4,184,259 $ 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 September 30, 2024, had a borrowing base of $4.0 billion and elected commitments of $2.5 billion. As of September 30, 2024, the Company had no borrowings outstanding and $2.5 billion in available borrowing capacity, net of $2.5 million in letters of credit outstanding. In connection with the spring borrowing base redetermination in April 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. The elected commitments and borrowing base were reaffirmed during the fall 2024 borrowing base redetermination resulting in an amendment to our Credit Agreement that also extended the maturity date to February 2028 (refer to Note 14—Subsequent Events for additional information). 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 $2.5 billion as of September 30, 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. 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, which is the ratio of total funded debt to consolidated EBITDAX (with such terms 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 September 30, 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 September 30, 2024, certain conditions have been met, and as a result, noteholders have the right to convert their Convertible Senior Notes during the fourth 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 September 30, 2024, the conversion rate was adjusted to 171.2758 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 September 30, 2024, the net liability related to the Convertible Senior Notes was $166.6 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 August 5, 2024, OpCo issued at par $1.0 billion of 6.25% senior notes due 2033 (the “2033 Senior Notes”) in a 144A private placement that resulted in net proceeds to the Company of $986.4 million, after deducting $13.6 million debt issuance costs. Interest is payable on the 2033 Senior Notes semi-annually in arrears each August 1 and February 1. The Company used the net proceeds from the 2033 Senior Notes to (i) fund the redemption of its 2026 7.75% Senior Notes (discussed below); (ii) fund a portion of the purchase price of the Bolt-On Acquisition (discussed in Note 2—Acquisitions and Divestitures ); and (iii repay a portion of borrowings outstanding under its credit facility. On or after August 1, 2027, OpCo may, on any one or more occasions, redeem all or a portion of the 2033 Senior Notes at a redemption price decreasing annually from 103.125% to 100% of the principal amount redeemed plus accrued and unpaid interest. 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. In August 2024, the Company redeemed $299.6 million of our outstanding 2026 7.75% Senior Notes through a cash tender offer and the Company irrevocably elected to redeem the remaining amount of the 2026 7.75% Senior Notes outstanding pursuant to the terms of the indenture governing the 2026 7.75% Senior Notes. The tender offer and redemption were funded using proceeds from the issuance of the 2033 Senior Notes. The Company paid total consideration for the tender offer and redemption, excluding accrued interest, of $305.1 million resulting in a loss on extinguishment of debt of $5.1 million. Interest on the 2029 Senior Notes is paid semi-annually each January 1 and July 1. Since 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 102.94% to 100% of the principal amount redeemed plus accrued and unpaid interest. On November 30, 2017, OpCo issued $400.0 million of 5.375% senior notes due 2026 (the “2026 5.375% Senior Notes”) and on March 15, 2019, OpCo issued $500.0 million of 6.875% senior notes due 2027 (the “2027 6.875% Senior Notes” and, together with the 2027 8.00% Senior Notes, 2031 Senior Notes, 2032 Senior Notes, 2026 5.375% Senior Notes, 2029 Senior Notes and the 2026 7.75% Senior Notes, the “Senior Unsecured Notes”) in 144A private placements. 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. On April 5, 2024, all of OpCo’s remaining outstanding 2027 6.875% Senior Notes were redeemed at a price equal to 100% of the aggregate principal amount outstanding of $356.4 million. As of September 30, 2024, the remaining aggregate principal amount of the 2026 5.375% Senior Notes outstanding was $289.4 million. 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. 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 15, 2026 (for the 2031 Senior Notes), January 15, 2027 (for the 2032 Senior Notes) and August 1, 2027 (for the 2033 Senior Notes) the “Optional Redemption Dates,” OpCo may, on any one or more occasions, redeem up to 35% (for the 2031 Senior Notes) and 40% (for the 2032 and 2033 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 109.875% (for the 2031 Senior Notes), 107.000% (for the 2032 Senior Notes) and 106.25% (for the 2033 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% (for the 2031 Senior Notes) and 60% (for the 2032 and 2033 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 September 30, 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 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	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2024: (in thousands) Asset retirement obligations, beginning of period $ 121,417 Liabilities incurred 8,115 Liabilities acquired 19,896 Liabilities divested and settled (4,119) Accretion expense 6,757 Asset retirement obligations, end of period 152,066 Less current portion (1) (11,700) Asset retirement obligations - long-term, end of period $ 140,366 (1) The current portion of ARO is included within Other current liabilities in the consolidated balance sheets. 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
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 6—Stock-Based Compensation The Company has a Long Term Incentive Plan (the “LTIP”) that has a total of 71,718,560 shares of Class A Common Stock 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Equity Awards Restricted stock $ 6,083 $ 6,311 $ 21,522 $ 30,324 Stock option awards — — — 1 Performance stock units 8,023 9,709 25,191 39,260 Total stock-based compensation expense $ 14,106 $ 16,020 $ 46,713 $ 69,585 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 “Second A&R Severance Plan”) to employees that experience a Qualifying Termination (as defined in the Second A&R 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 nine months ended September 30, 2024, five employees had Qualifying Terminations related to the Colgate Merger as compared to nineteen employees during the nine months ended September 30, 2023, all of which received accelerated vesting of their unvested stock awards or had changes in their service periods resulting in modifications of such impacted stock awards. These modifications resulted in an increase to total stock-based compensation expense of $1.7 million and $14.6 million for the three and nine months ended September 30, 2024 and $7.1 million and $39.3 million for the three and nine months ended September 30, 2023, respectively, as a result of the change in the fair value of the modified awards. The restricted stock shares and performance stock units that were accelerated are included within the vested line items in the below tables. As of September 1, 2024, no additional Qualifying Terminations pursuant to the Second A&R Severance Plan can occur as a result of the Colgate Merger. Restricted Stock The following table provides information about restricted stock activity during the nine months ended September 30, 2024: Restricted Stock Weighted Average Fair Value Unvested balance as of December 31, 2023 3,821,231 $ 8.58 Granted 2,248,692 15.01 Vested (1,874,301) 10.17 Forfeited (565,008) 11.24 Unvested balance as of September 30, 2024 3,630,614 12.42 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 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 nine months ended September 30, 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 (22,666) 11.26 $ 127 Forfeited — — Expired (238,500) 18.01 Outstanding as of September 30, 2024 420,533 16.15 3.2 $ 566 Exercisable as of September 30, 2024 420,533 16.15 3.2 $ 566 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 of 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. Each of our Co-Chief Executive Officers received performance-based restricted stock unit awards in September 2022 (the “2022 PSUs”) which were split into three tranches with performance period end dates at the end of 2025, 2026 and 2027 and with service periods corresponding to those same performance periods. During the three months ended September 30, 2024, the Compensation Committee amended the 2022 PSUs to deem the service requirement portion of the 2022 PSUs met on each of the three tranches as of September 1, 2025, which is consistent with the three-year service requirement for other performance-based restricted stock awards granted by the Company. Following September 1, 2025, each tranche of the 2022 PSUs will continue to be subject to the original performance-based conditions, including no changes to the performance period, and will continue to vest, if at all, based on the satisfaction of the original performance conditions at year-end 2025, 2026 and 2027. In accordance with ASC 718, no incremental stock-based compensation was recognized as a result of these modifications, instead the remaining unrecognized compensation cost will be recognized over the modified requisite service period. The following table summarizes the key assumptions and related information used to determine the fair value of PSUs granted during the nine months ended September 30, 2024: 2024 Awards Number of PSUs granted 731,472 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 nine months ended September 30, 2024: Awards Weighted Average Fair Value Unvested balance as of December 31, 2023 5,019,425 $ 15.18 Granted 731,472 24.81 Vested (1) (283,462) 20.81 Forfeited (123,052) 19.77 Unvested balance as of September 30, 2024 5,344,383 16.54 (1) This balance includes vested PSU awards as of September 30, 2024 based on the original number of PSUs granted. Actual PSUs vested is based upon the Company’s absolute annualized TSR calculation and the Company’s TSR relative to the TSR of a peer group of companies at the time of vesting, which may be greater than or less than the original number granted. As of September 30, 2024, there was $42.2 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 1.2 years.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 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 September 30, 2024: Period Volume (Bbls) Volume Wtd. Avg. Crude Price ($/Bbl) (1) Crude oil swaps October 2024 - December 2024 3,772,000 41,000 $75.08 January 2025 - March 2025 3,870,000 43,000 75.15 April 2025 - June 2025 3,913,000 43,000 73.85 July 2025 - September 2025 3,956,000 43,000 72.65 October 2025 - December 2025 3,956,000 43,000 71.62 January 2026 - March 2026 1,575,000 17,500 71.49 April 2026 - June 2026 1,592,500 17,500 70.61 July 2026 - September 2026 1,610,000 17,500 69.77 October 2026 - December 2026 1,610,000 17,500 69.08 Period Volume (Bbls) Volume Wtd. Avg. Collar Price Ranges ($/Bbl) (2) Crude oil collars 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 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 October 2024 - December 2024 4,186,000 45,500 $0.97 January 2025 - March 2025 3,870,000 43,000 1.11 April 2025 - June 2025 3,913,000 43,000 1.11 July 2025 - September 2025 3,956,000 43,000 1.11 October 2025 - December 2025 3,956,000 43,000 1.11 January 2026 - March 2026 1,575,000 17,500 1.15 April 2026 - June 2026 1,592,500 17,500 1.15 July 2026 - September 2026 1,610,000 17,500 1.15 October 2026 - December 2026 1,610,000 17,500 1.15 Period Volume (Bbls) Volume Wtd. Avg. Differential ($/Bbl) (5) Crude oil roll differential swaps October 2024 - December 2024 4,186,000 45,500 $0.55 January 2025 - March 2025 3,870,000 43,000 0.42 April 2025 - June 2025 3,913,000 43,000 0.42 July 2025 - September 2025 3,956,000 43,000 0.42 October 2025 - December 2025 3,956,000 43,000 0.42 January 2026 - March 2026 1,575,000 17,500 0.28 April 2026 - June 2026 1,592,500 17,500 0.28 July 2026 - September 2026 1,610,000 17,500 0.28 October 2026 - December 2026 1,610,000 17,500 0.28 (1) These crude oil swap transactions are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated. (2) These crude oil collars are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated. (3) These crude oil deferred premium puts are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual put prices for the volumes stipulated. (4) These crude oil basis swap transactions are settled based on the difference between the arithmetic average of ARGUS MIDLAND WTI and ARGUS WTI CUSHING indices, during each applicable monthly settlement period. (5) These crude oil roll swap transactions are settled based on the difference between the arithmetic average of NYMEX WTI calendar month prices and the physical crude oil delivery month price. Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Gas Price ($/MMBtu) (1) Natural gas swaps October 2024 - December 2024 5,933,899 64,499 $3.86 January 2025 - March 2025 3,600,000 40,000 4.32 April 2025 - June 2025 3,640,000 40,000 3.65 July 2025 - September 2025 3,680,000 40,000 3.83 October 2025 - December 2025 3,680,000 40,000 4.20 January 2026 - March 2026 990,000 11,000 4.18 April 2026 - June 2026 1,001,000 11,000 3.48 July 2026 - September 2026 1,012,000 11,000 3.80 October 2026 - December 2026 1,012,000 11,000 4.21 Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Differential ($/MMBtu) (2) Natural gas basis differential swaps October 2024 - December 2024 11,040,000 120,000 $(0.98) January 2025 - March 2025 3,600,000 40,000 (0.74) April 2025 - June 2025 3,640,000 40,000 (0.74) July 2025 - September 2025 3,680,000 40,000 (0.74) October 2025 - December 2025 3,680,000 40,000 (0.74) January 2026 - March 2026 990,000 11,000 (0.61) April 2026 - June 2026 1,001,000 11,000 (1.67) July 2026 - September 2026 1,012,000 11,000 (1.17) October 2026 - December 2026 1,012,000 11,000 (1.02) Period Volume (MMBtu) Volume Wtd. Avg. Collar Price Ranges ($/MMBtu) (3) Natural gas collars 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Net gain (loss) on derivative instruments $ 238,533 $ (151,781) $ 131,702 $ (76,668) 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) September 30, 2024 Derivative Assets Commodity contracts Derivative instruments $ 134,106 $ (3,936) $ 130,170 Other noncurrent assets 55,088 (323) 54,765 Derivative Liabilities Commodity contracts Other current liabilities $ 3,936 $ (3,936) $ — Other noncurrent liabilities 323 (323) — 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 Other current liabilities $ 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	9 Months Ended
	Sep. 30, 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 September 30, 2024 Total assets $ — $ 184,935 $ — Total liabilities — — — 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 operating and 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: September 30, 2024 December 31, 2023 Carrying Value Principal Amount Fair Value Carrying Value Principal Amount Fair Value Credit Facility (1) $ — $ — $ — $ — $ — $ — 5.375% Senior Notes due 2026 (2) 288,115 289,448 288,690 287,408 289,448 285,287 7.75% Senior Notes due 2026 (2) — — — 300,000 300,000 304,551 6.875% Senior Notes due 2027 (2) — — — 352,619 356,351 356,852 8.00% Senior Notes due 2027 (2) 561,976 550,000 566,850 565,063 550,000 568,473 3.25% Convertible Senior Notes due 2028 (2)(3) 166,573 170,000 418,342 165,897 170,000 404,124 5.875% Senior Notes due 2029 (2) 663,299 700,000 700,726 658,562 700,000 684,705 9.875% Senior Notes due 2031 (2) 533,646 500,000 557,490 536,280 500,000 555,625 7.00% Senior Notes due 2032 (2) 984,008 1,000,000 1,041,193 982,952 1,000,000 1,030,790 6.25% Senior Notes due 2033 (2) 986,642 1,000,000 1,018,607 — — — (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 or premiums 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 September 30, 2024, noteholders have the right to convert during the fourth 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	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity Note Disclosure	Note 9—Shareholders’ Equity and Noncontrolling Interest Stock Conversion During the nine months ended September 30, 2024 and 2023, certain legacy owners of Colgate and Earthstone exchanged 126.8 million and 49.1 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 $89.7 million and $16.6 million were recorded in equity as a result of the conversions of shares from the noncontrolling interest owners for the nine months ended September 30, 2024 and 2023, respectively. No cash proceeds were received by the Company in connection with these conversions. Stock Issuances In July 2024, the Company completed an underwritten public offering of 26.5 million shares of its Class A Common Stock in which the Company received net cash proceeds of $402.2 million after underwriting discounts and commissions. The Company used the net proceeds from this equity offering to fund a portion of the aggregate purchase price of the Bolt-On Acquisition discussed in Note 2—Acquisitions and Divestitures. In May 2024, the Company issued 6.2 million shares of Class A Common Stock, which were issued as partial consideration for a portion of the 2024 asset acquisitions discussed in Note 2—Acquisitions and Divestitures . No cash proceeds were received by the Company in connection with this issuance. 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) September 30, 2024 $ 0.06 $ 0.15 $ 0.21 $ 170,156 September 30, 2023 $ 0.05 $ 0.05 $ 0.10 $ 57,587 Nine Months Ended, September 30, 2024 $ 0.17 $ 0.39 $ 0.56 $ 440,291 September 30, 2023 $ 0.15 $ 0.10 $ 0.25 $ 143,089 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. On September 3, 2024, the Company’s Board of Directors authorized a new share repurchase program (the “New Repurchase Program”) of $1 billion, replacing the existing $500 million Repurchase Program. The New Repurchase Program is approved to run on an indefinite basis and 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 New 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 nine months ended September 30, 2024 and 2023, the Company paid $61.0 million and $57.3 million, respectively, to repurchase 3.8 million and 5.0 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 September 30, 2024, the noncontrolling interest ownership of OpCo had decreased to 12% 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	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands, except per share data) 2024 2023 2024 2023 Net income attributable to Class A Common Stock $ 386,376 $ 45,433 $ 768,051 $ 220,952 Add: Interest on Convertible Senior Notes, net of tax 1,305 1,374 3,887 4,116 Adjusted net income (attributable to Class A Common Stock) $ 387,681 $ 46,807 $ 771,938 $ 225,068 Basic weighted average shares of Class A Common Stock outstanding 693,692 324,650 619,741 312,015 Add: Dilutive effects of Convertible Senior Notes 29,117 27,829 29,117 27,583 Add: Dilutive effects of equity awards 13,430 13,695 14,457 11,819 Diluted weighted average shares of Class A Common Stock outstanding 736,239 366,174 663,315 351,417 Basic net earnings per share of Class A Common Stock $ 0.56 $ 0.14 $ 1.24 $ 0.71 Diluted net earnings per share of Class A Common Stock $ 0.53 $ 0.13 $ 1.16 $ 0.64 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Out-of-the-money stock options 436 1,022 482 1,451 Weighted average shares of Class C Common Stock 100,670 241,340 159,396 250,018 Restricted stock 325 — 182 69 Performance stock units 831 — 277 39

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 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”) and related affiliates of each entity each beneficially owned more than 5% of any class of common stock in the Company as of September 30, 2024. Due to Pearl’s, EnCap’s and Riverstone’s beneficial ownership, these entities are considered related parties to the Company. NGP Energy Capital (“NGP”), was a related party through the first quarter of 2024, however, NGP no longer beneficially owns any class of common stock in the Company as of September 30, 2024 and is no longer considered a related party 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 September 30, 2024 that represents a related party transaction. The Company believes that the terms of this arrangement are 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Streamline Lease operating expenses $ 2,556 $ 1,782 6,599 3,616 During the nine months ended September 30, 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 nine months ended September 30, 2024 and 2023, the Company repurchased 3.8 million and 5.0 million Common Units of OpCo from NGP, respectively, for $61.0 million and $57.3 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	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12—Commitments and Contingencies Commitments In connection with the Bolt-On Acquisition, the Company assumed a NGL purchase agreement during the nine months ended September 30, 2024. The purchase agreement includes a commitment to deliver a minimum of 9,000 Bbls/d of NGLs to the purchaser over the next 3.5 years or be subject to under-delivery fees that would result in a financial obligation equal to $3.36 per barrel of NGL under the required minimum volumes, subject to inflation factors. The Company currently expects its future production will satisfy all minimum volume commitments under this agreement. During the nine months ended September 30, 2024, the Company also entered into a multi-year energy purchase agreement to buy electricity utilized in the Company’s operations. Under the contract, the Company is obligated to purchase a minimum amount of electricity at a fixed price. If the Company does not utilize the minimum amounts of electricity on a monthly basis and the supplier is unable to sell the unutilized quantity, the Company is liable for the full cost of the underutilization at the fixed price per the agreement. The total remaining obligation is $45.2 million, which represents the gross minimum financial commitments pursuant to this agreement as of September 30, 2024. The Company routinely enters into, extends or amends operating agreements in the ordinary course of business. There has been no other material, non-routine changes in commitments during the nine months ended September 30, 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, a loss in relation to these matters is certain and in accordance with ASC Topic 450-20, Loss Contingencies, the Company has recorded a net estimated liability of $7.6 million, inclusive of estimated interest penalties, as of September 30, 2024, which was paid during the fourth quarter of 2024. 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	9 Months Ended
	Sep. 30, 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. Substantially 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating revenues (in thousands): Oil sales $ 1,099,318 $ 660,445 $ 3,265,303 $ 1,734,057 Natural gas sales (1) (37,087) 38,354 (21,351) 94,123 NGL sales (2) 153,340 59,742 460,701 170,027 Oil and gas sales $ 1,215,571 $ 758,541 $ 3,704,653 $ 1,998,207 (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 $26.2 million and $75.1 million for the three and nine months ended September 30, 2024, respectively, and $12.0 million and $30.7 million for the three and nine months ended September 30, 2023, respectively. (2) NGL sales include a portion of GP&T that are reflected as a reduction to NGL sales of $23.0 million and $64.7 million for the three and nine months ended September 30, 2024, respectively, and $16.3 million and $48.9 million for the three and nine months ended September 30, 2023, respectively. 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 September 30, 2024 and December 31, 2023, such receivable balances were $227.2 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 nine months ended September 30, 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	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 14—Subsequent Events Dividends Declared On November 6, 2024, the Company announced that its Board of Directors declared a quarterly base dividend of $0.15 per share of Class A Common Stock and distribution of $0.15 per share of Class C Common Stock (each of which has an underlying Common Unit of OpCo). The dividend is payable November 22, 2024 to shareholders of record as of November 14, 2024. Amended Credit Agreement

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 386,376	$ 45,433	$ 768,051	$ 220,952

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 contracts based on the present value of the future lease payments of the drilling rigs over the lease terms. As of September 30, 2024, the Company had recorded in aggregate $22.5 million and $31.8 million of current and noncurrent operating lease liabilities, respectively, related to these drilling rig contracts. The following table provides additional information related to the Company’s lease assets and liabilities as presented on the balance sheet for the periods presented: (in thousands) Balance Sheet Classification September 30, 2024 December 31, 2023 Assets Operating right-of-use assets Operating lease right-of-use assets $ 111,783 $ 59,359 Finance right-of-use asset Other noncurrent assets 15,072 15,189 Liabilities Current Operating lease liabilities Operating lease liabilities $ 52,329 $ 33,006 Finance lease liability Other current liabilities 767 753 Noncurrent Operating lease liabilities Operating lease liabilities $ 61,301 $ 28,302 Finance lease liability Other noncurrent liabilities 15,080 14,821 There have been no other significant changes in leases during the nine months ended September 30, 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 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 generated by OpCo is passed through to and included in the taxable income of its members, including the Company, on a pro rata basis.

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Tables)	9 Months Ended
	Sep. 30, 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 the balance sheet for the periods presented: (in thousands) Balance Sheet Classification September 30, 2024 December 31, 2023 Assets Operating right-of-use assets Operating lease right-of-use assets $ 111,783 $ 59,359 Finance right-of-use asset Other noncurrent assets 15,072 15,189 Liabilities Current Operating lease liabilities Operating lease liabilities $ 52,329 $ 33,006 Finance lease liability Other current liabilities 767 753 Noncurrent Operating lease liabilities Operating lease liabilities $ 61,301 $ 28,302 Finance lease liability Other noncurrent liabilities 15,080 14,821

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)		9 Months Ended
	Sep. 17, 2024	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisition, Pro Forma Information		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 September 30, 2023 Nine Months Ended September 30, 2023 Total Revenue $ 1,283,969 $ 3,519,042 Net Income 137,779 432,571 Earnings per share: Basic $ 0.29 $ 0.92 Diluted 0.25 0.79
Asset Acquisition	The following table represents the preliminary consideration and purchase price allocation of the identifiable assets acquired and the liabilities assumed based on their respective fair values as of the closing date of the business combination. (in thousands, except share and per share data) Bolt-On Acquisition Consideration Total cash consideration given $ 743,496 Fair value of assets acquired: Preliminary Purchase Price Allocation Accounts receivable, net $ 5,556 Oil and natural gas properties, net 770,449 Total assets acquired $ 776,005 Fair value of liabilities assumed: Accounts payable and accrued expenses $ 17,355 Asset retirement obligations 15,154 Total liabilities assumed $ 32,509 Net assets acquired $ 743,496

Accounts Receivable, Accounts_2

Accounts Receivable, Accounts Payable and Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable	Accounts receivable are comprised of the following: (in thousands) September 30, 2024 December 31, 2023 Accrued oil and gas sales receivable, net $ 227,244 $ 345,982 Joint interest billings, net 194,170 123,160 Accrued derivative settlements receivable 11,671 8,228 Other 6,253 3,690 Accounts receivable, net $ 439,338 $ 481,060
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses are comprised of the following: (in thousands) September 30, 2024 December 31, 2023 Accounts payable $ 105,983 $ 94,533 Accrued capital expenditures 255,026 271,569 Revenues payable 551,629 527,470 Accrued employee compensation and benefits 19,801 29,836 Accrued interest 73,880 100,882 Accrued expenses and other 154,127 143,235 Accounts payable and accrued expenses $ 1,160,446 $ 1,167,525

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 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) September 30, 2024 December 31, 2023 Credit Facility $ — $ — Senior Notes 5.375% Senior Notes due 2026 289,448 289,448 7.75% Senior Notes due 2026 — 300,000 6.875% Senior Notes due 2027 — 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 6.25% Senior Notes due 2033 1,000,000 — Unamortized debt issuance costs on Senior Notes (31,804) (23,149) Unamortized debt (discount)/premium 6,615 6,131 Senior Notes, net 4,184,259 3,848,781 Total long-term debt, net $ 4,184,259 $ 3,848,781

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2024: (in thousands) Asset retirement obligations, beginning of period $ 121,417 Liabilities incurred 8,115 Liabilities acquired 19,896 Liabilities divested and settled (4,119) Accretion expense 6,757 Asset retirement obligations, end of period 152,066 Less current portion (1) (11,700) Asset retirement obligations - long-term, end of period $ 140,366 (1) The current portion of ARO is included within Other current liabilities in the consolidated balance sheets.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Equity Awards Restricted stock $ 6,083 $ 6,311 $ 21,522 $ 30,324 Stock option awards — — — 1 Performance stock units 8,023 9,709 25,191 39,260 Total stock-based compensation expense $ 14,106 $ 16,020 $ 46,713 $ 69,585
Schedule of Restricted Stock Activity	The following table provides information about restricted stock activity during the nine months ended September 30, 2024: Restricted Stock Weighted Average Fair Value Unvested balance as of December 31, 2023 3,821,231 $ 8.58 Granted 2,248,692 15.01 Vested (1,874,301) 10.17 Forfeited (565,008) 11.24 Unvested balance as of September 30, 2024 3,630,614 12.42
Summary of Stock Option Activity	The following table provides information about stock option awards outstanding during the nine months ended September 30, 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 (22,666) 11.26 $ 127 Forfeited — — Expired (238,500) 18.01 Outstanding as of September 30, 2024 420,533 16.15 3.2 $ 566 Exercisable as of September 30, 2024 420,533 16.15 3.2 $ 566
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 nine months ended September 30, 2024: 2024 Awards Number of PSUs granted 731,472 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 nine months ended September 30, 2024: Awards Weighted Average Fair Value Unvested balance as of December 31, 2023 5,019,425 $ 15.18 Granted 731,472 24.81 Vested (1) (283,462) 20.81 Forfeited (123,052) 19.77 Unvested balance as of September 30, 2024 5,344,383 16.54 (1) This balance includes vested PSU awards as of September 30, 2024 based on the original number of PSUs granted. Actual PSUs vested is based upon the Company’s absolute annualized TSR calculation and the Company’s TSR relative to the TSR of a peer group of companies at the time of vesting, which may be greater than or less than the original number granted.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2024: Period Volume (Bbls) Volume Wtd. Avg. Crude Price ($/Bbl) (1) Crude oil swaps October 2024 - December 2024 3,772,000 41,000 $75.08 January 2025 - March 2025 3,870,000 43,000 75.15 April 2025 - June 2025 3,913,000 43,000 73.85 July 2025 - September 2025 3,956,000 43,000 72.65 October 2025 - December 2025 3,956,000 43,000 71.62 January 2026 - March 2026 1,575,000 17,500 71.49 April 2026 - June 2026 1,592,500 17,500 70.61 July 2026 - September 2026 1,610,000 17,500 69.77 October 2026 - December 2026 1,610,000 17,500 69.08 Period Volume (Bbls) Volume Wtd. Avg. Collar Price Ranges ($/Bbl) (2) Crude oil collars 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 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 October 2024 - December 2024 4,186,000 45,500 $0.97 January 2025 - March 2025 3,870,000 43,000 1.11 April 2025 - June 2025 3,913,000 43,000 1.11 July 2025 - September 2025 3,956,000 43,000 1.11 October 2025 - December 2025 3,956,000 43,000 1.11 January 2026 - March 2026 1,575,000 17,500 1.15 April 2026 - June 2026 1,592,500 17,500 1.15 July 2026 - September 2026 1,610,000 17,500 1.15 October 2026 - December 2026 1,610,000 17,500 1.15 Period Volume (Bbls) Volume Wtd. Avg. Differential ($/Bbl) (5) Crude oil roll differential swaps October 2024 - December 2024 4,186,000 45,500 $0.55 January 2025 - March 2025 3,870,000 43,000 0.42 April 2025 - June 2025 3,913,000 43,000 0.42 July 2025 - September 2025 3,956,000 43,000 0.42 October 2025 - December 2025 3,956,000 43,000 0.42 January 2026 - March 2026 1,575,000 17,500 0.28 April 2026 - June 2026 1,592,500 17,500 0.28 July 2026 - September 2026 1,610,000 17,500 0.28 October 2026 - December 2026 1,610,000 17,500 0.28 (1) These crude oil swap transactions are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated. (2) These crude oil collars are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated. (3) These crude oil deferred premium puts are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual put prices for the volumes stipulated. (4) These crude oil basis swap transactions are settled based on the difference between the arithmetic average of ARGUS MIDLAND WTI and ARGUS WTI CUSHING indices, during each applicable monthly settlement period. (5) These crude oil roll swap transactions are settled based on the difference between the arithmetic average of NYMEX WTI calendar month prices and the physical crude oil delivery month price. Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Gas Price ($/MMBtu) (1) Natural gas swaps October 2024 - December 2024 5,933,899 64,499 $3.86 January 2025 - March 2025 3,600,000 40,000 4.32 April 2025 - June 2025 3,640,000 40,000 3.65 July 2025 - September 2025 3,680,000 40,000 3.83 October 2025 - December 2025 3,680,000 40,000 4.20 January 2026 - March 2026 990,000 11,000 4.18 April 2026 - June 2026 1,001,000 11,000 3.48 July 2026 - September 2026 1,012,000 11,000 3.80 October 2026 - December 2026 1,012,000 11,000 4.21 Period Volume (MMBtu) Volume (MMBtu/d) Wtd. Avg. Differential ($/MMBtu) (2) Natural gas basis differential swaps October 2024 - December 2024 11,040,000 120,000 $(0.98) January 2025 - March 2025 3,600,000 40,000 (0.74) April 2025 - June 2025 3,640,000 40,000 (0.74) July 2025 - September 2025 3,680,000 40,000 (0.74) October 2025 - December 2025 3,680,000 40,000 (0.74) January 2026 - March 2026 990,000 11,000 (0.61) April 2026 - June 2026 1,001,000 11,000 (1.67) July 2026 - September 2026 1,012,000 11,000 (1.17) October 2026 - December 2026 1,012,000 11,000 (1.02) Period Volume (MMBtu) Volume Wtd. Avg. Collar Price Ranges ($/MMBtu) (3) Natural gas collars 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Net gain (loss) on derivative instruments $ 238,533 $ (151,781) $ 131,702 $ (76,668)
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) September 30, 2024 Derivative Assets Commodity contracts Derivative instruments $ 134,106 $ (3,936) $ 130,170 Other noncurrent assets 55,088 (323) 54,765 Derivative Liabilities Commodity contracts Other current liabilities $ 3,936 $ (3,936) $ — Other noncurrent liabilities 323 (323) — 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 Other current liabilities $ 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)	9 Months Ended
	Sep. 30, 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 September 30, 2024 Total assets $ — $ 184,935 $ — Total liabilities — — — 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: September 30, 2024 December 31, 2023 Carrying Value Principal Amount Fair Value Carrying Value Principal Amount Fair Value Credit Facility (1) $ — $ — $ — $ — $ — $ — 5.375% Senior Notes due 2026 (2) 288,115 289,448 288,690 287,408 289,448 285,287 7.75% Senior Notes due 2026 (2) — — — 300,000 300,000 304,551 6.875% Senior Notes due 2027 (2) — — — 352,619 356,351 356,852 8.00% Senior Notes due 2027 (2) 561,976 550,000 566,850 565,063 550,000 568,473 3.25% Convertible Senior Notes due 2028 (2)(3) 166,573 170,000 418,342 165,897 170,000 404,124 5.875% Senior Notes due 2029 (2) 663,299 700,000 700,726 658,562 700,000 684,705 9.875% Senior Notes due 2031 (2) 533,646 500,000 557,490 536,280 500,000 555,625 7.00% Senior Notes due 2032 (2) 984,008 1,000,000 1,041,193 982,952 1,000,000 1,030,790 6.25% Senior Notes due 2033 (2) 986,642 1,000,000 1,018,607 — — — (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 or premiums 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 September 30, 2024, noteholders have the right to convert during the fourth 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)	9 Months Ended
	Sep. 30, 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) September 30, 2024 $ 0.06 $ 0.15 $ 0.21 $ 170,156 September 30, 2023 $ 0.05 $ 0.05 $ 0.10 $ 57,587 Nine Months Ended, September 30, 2024 $ 0.17 $ 0.39 $ 0.56 $ 440,291 September 30, 2023 $ 0.15 $ 0.10 $ 0.25 $ 143,089

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands, except per share data) 2024 2023 2024 2023 Net income attributable to Class A Common Stock $ 386,376 $ 45,433 $ 768,051 $ 220,952 Add: Interest on Convertible Senior Notes, net of tax 1,305 1,374 3,887 4,116 Adjusted net income (attributable to Class A Common Stock) $ 387,681 $ 46,807 $ 771,938 $ 225,068 Basic weighted average shares of Class A Common Stock outstanding 693,692 324,650 619,741 312,015 Add: Dilutive effects of Convertible Senior Notes 29,117 27,829 29,117 27,583 Add: Dilutive effects of equity awards 13,430 13,695 14,457 11,819 Diluted weighted average shares of Class A Common Stock outstanding 736,239 366,174 663,315 351,417 Basic net earnings per share of Class A Common Stock $ 0.56 $ 0.14 $ 1.24 $ 0.71 Diluted net earnings per share of Class A Common Stock $ 0.53 $ 0.13 $ 1.16 $ 0.64
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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Out-of-the-money stock options 436 1,022 482 1,451 Weighted average shares of Class C Common Stock 100,670 241,340 159,396 250,018 Restricted stock 325 — 182 69 Performance stock units 831 — 277 39

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Streamline Lease operating expenses $ 2,556 $ 1,782 6,599 3,616

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating revenues (in thousands): Oil sales $ 1,099,318 $ 660,445 $ 3,265,303 $ 1,734,057 Natural gas sales (1) (37,087) 38,354 (21,351) 94,123 NGL sales (2) 153,340 59,742 460,701 170,027 Oil and gas sales $ 1,215,571 $ 758,541 $ 3,704,653 $ 1,998,207 (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 $26.2 million and $75.1 million for the three and nine months ended September 30, 2024, respectively, and $12.0 million and $30.7 million for the three and nine months ended September 30, 2023, respectively. (2) NGL sales include a portion of GP&T that are reflected as a reduction to NGL sales of $23.0 million and $64.7 million for the three and nine months ended September 30, 2024, respectively, and $16.3 million and $48.9 million for the three and nine months ended September 30, 2023, respectively.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	Sep. 30, 2024 USD ($) Wells	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	$ 52,329,000	$ 33,006,000
Finance Lease, Liability, Current	767,000	753,000
Operating Lease, Liability, Noncurrent	61,301,000	28,302,000
Finance Lease, Liability, Noncurrent	15,080,000	14,821,000
Operating lease right-of-use assets	111,783,000	59,359,000
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 15,072,000	$ 15,189,000
Number of leases | Wells	2
Term of lease	3 years
Drilling Agreements
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	$ 22,500,000
Operating Lease, Liability, Noncurrent	$ 31,800,000

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Details) $ / shares in Units, $ in Thousands				3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 17, 2024 USD ($) a	Mar. 13, 2023 USD ($)	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) $ / shares
Proceeds from Divestiture of Businesses [Abstract]
Contingent considerations received related to divestiture					$ 0	$ 60,000
2023 Divestiture
Proceeds from Divestiture of Businesses [Abstract]
Proceeds from Divestiture of Businesses			$ 125,000
Contingent considerations received related to divestiture	$ 40,000		60,000
2023 Divestiture, Water Assets
Proceeds from Divestiture of Businesses [Abstract]
Proceeds from Divestiture of Businesses			$ 65,000
2024 Eddy Asset Acquisition
Business Acquisition [Line Items]
Asset Acquisition, Price of Acquisition, Expected					$ 363,000
Earthstone Merger Agreement
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares				$ 0.29		$ 0.92
Business Acquisition, Pro Forma Revenue				$ 1,283,969		$ 3,519,042
Business Acquisition, Pro Forma Net Income (Loss)				$ 137,779		$ 432,571
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares				$ 0.25		$ 0.79
Bolt-On Acquisition
Proceeds from Divestiture of Businesses [Abstract]
Business Combination, Consideration Transferred		$ 743,496
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		5,556
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		770,449
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		776,005
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		17,355
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities		15,154
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		32,509
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 743,496
Bolt-On Acquisition, Leasehold Acres
Proceeds from Divestiture of Businesses [Abstract]
Area of land (in acres) | a		29,500
Bolt-On Acquisition, Royalty Acres
Proceeds from Divestiture of Businesses [Abstract]
Area of land (in acres) | a		9,900
Bolt-On Acquisition, Midstream Miles of O&G Gathering Systems
Proceeds from Divestiture of Businesses [Abstract]
Area of land (in acres) | a		100
Bolt-On Acquisition, Midstream Surface Acres
Proceeds from Divestiture of Businesses [Abstract]
Area of land (in acres) | a		10,000

Accounts Receivable, Accounts_3

Accounts Receivable, Accounts Payable and Accrued Expenses - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued oil and gas sales receivable, net	$ 227,244	$ 345,982
Joint interest billings, net	194,170	123,160
Accrued derivative settlements receivable	11,671	8,228
Other	6,253	3,690
Accounts receivable, net	$ 439,338	$ 481,060

Accounts Receivable, Accounts_4

Accounts Receivable, Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable	$ 105,983	$ 94,533
Accrued capital expenditures	255,026	271,569
Revenues payable	551,629	527,470
Accrued employee compensation and benefits	19,801	29,836
Accrued interest	73,880	100,882
Accrued expenses and other	154,127	143,235
Accounts payable and accrued expenses	$ 1,160,446	$ 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
	Sep. 30, 2024	Dec. 31, 2022	Aug. 05, 2024	Dec. 31, 2023	Nov. 01, 2023	Sep. 12, 2023	Sep. 01, 2022	Mar. 26, 2021	Mar. 19, 2021	Mar. 15, 2019	Nov. 30, 2017
Debt Instrument [Line Items]
Long-term debt, net	$ 4,184,259			$ 3,848,781
Senior Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs on Senior Notes	(31,804)			(23,149)
Debt Instrument, Unamortized Discount (Premium), Net	(6,615)			(6,131)
Long-term debt, net	$ 4,184,259			3,848,781
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	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	0			300,000
Debt Instrument, Face Amount	$ 0			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	$ 0			356,351
Debt Instrument, Face Amount										$ 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
Senior Notes | 2033 Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			6.25%
Long-term Debt, Gross	1,000,000			0
Debt Instrument, Face Amount	$ 1,000,000		$ 1,000,000	0
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	$ 166,600
Conversion of common shares from Class C to Class A, net of tax (in shares)	171.2758	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	0			0
Debt Instrument, Face Amount	$ 0			$ 0

Long-Term Debt - Credit Agreeme

Long-Term Debt - Credit Agreement (Details) - Line of Credit $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) redetermination	Jun. 30, 2024 USD ($)
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	$ 2,500
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	$ 2,500
Line of Credit Facility, Current Borrowing Capacity, Elected Commitments		$ 2,000
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	$ 2.5

Long-Term Debt - Convertible Se

Long-Term Debt - Convertible Senior Notes (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 26, 2021	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2022	Dec. 31, 2023	Mar. 19, 2021
Debt Instrument [Line Items]
Redemption price percentage			100%
Long-term debt, net		$ 4,184,259	$ 4,184,259		$ 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%			3.25%
Proceeds from borrowings, net of issuance costs	163,600
Debt issuance costs	$ 6,400
Debt Instrument, Convertible, Conversion Price		$ 6.28	$ 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%	25%
Long-term debt, net		$ 166,600	$ 166,600
Conversion of common shares from Class C to Class A, net of tax (in shares)		171.2758		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		$ 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	Sep. 30, 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 ($)							1 Months Ended	9 Months Ended
	Aug. 05, 2024	Dec. 13, 2023	Nov. 01, 2023	Sep. 12, 2023	Sep. 01, 2022	May 22, 2020	Aug. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Aug. 08, 2024	Dec. 31, 2023	Mar. 15, 2019	Nov. 30, 2017
Debt Instrument [Line Items]
Redemption price percentage								100%
Loss on extinguishment of debt								$ (8,585,000)	$ 0
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
Interest rate, stated percentage								6.875%				6.875%
Debt Conversion, Original Debt, Amount						$ 143,700,000
Senior Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 289,400,000					$ 400,000,000
Interest rate, stated percentage								5.375%					5.375%
Debt Conversion, Original Debt, Amount						110,600,000
7.75% Senior Notes Due 2026
Debt Instrument [Line Items]
Loss on extinguishment of debt							$ 5,100,000
7.75% Senior Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 300,000,000			$ 0			$ 300,000,000
Interest rate, stated percentage	7.75%				7.75%
Private placement price as percentage of par					100%
Debt Instrument, Repurchase Amount										$ 305,100,000
Debt Instrument, Repurchased Face Amount										$ 299,600,000
8.00% Second Lien Senior Secured Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
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
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%
Debt Instrument, Redemption Price Percentage, Maximum								106%
Debt Instrument, Unamortized Premium			$ 15,700,000
2033 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000,000							$ 1,000,000,000			$ 0
Interest rate, stated percentage	6.25%
Proceeds from borrowings, net of issuance costs	$ 986,400,000
Debt issuance costs	$ 13,600,000
Debt Instrument, Redemption Price Percentage, Maximum								103.125%

Long-Term Debt - Senior Notes (

Long-Term Debt - Senior Notes (Details) - USD ($) $ in Thousands			9 Months Ended
	Sep. 01, 2022	Mar. 15, 2019	Sep. 30, 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
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
Senior Notes | 7.75% Senior Notes Due 2026
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000		$ 0	$ 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) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations, beginning of period	$ 121,417
Liabilities incurred	8,115
Liabilities acquired	19,896
Liabilities divested and settled	(4,119)
Accretion expense	6,757
Asset retirement obligations, end of period	152,066
Asset Retirement Obligation, Current	(11,700)
Asset retirement obligations	$ 140,366	$ 121,417

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) employee $ / shares shares	Sep. 30, 2023 USD ($) employee	Feb. 20, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares			0
Share-based Payment Arrangement, Expense	$ 14,106	$ 16,020
Number of Employees Terminated | employee			5	19
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value per share | $ / shares			$ 15.01
Fair value of vested restricted stock awards			$ 19,100	$ 34,500
Unrecognized compensation costs	35,300		$ 35,300
Unrecognized compensation costs, period for recognition			2 years 3 months 18 days
Number of PSUs granted | shares			2,248,692
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares			1,874,301
Share-based Payment Arrangement, Expense	6,083	6,311	$ 21,522	30,324
Stock option awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised			127
Share-based Payment Arrangement, Expense	0	0	$ 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	42,200		$ 42,200
Unrecognized compensation costs, period for recognition			1 year 2 months 12 days
Number of PSUs granted | shares			731,472
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares			283,462
Share-based Payment Arrangement, Expense	$ 8,023	$ 9,709	$ 25,191	$ 39,260
Unvested balanced, end of period | shares	5,344,383		5,344,383
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
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 | 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		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) employee	Sep. 30, 2023 USD ($) employee
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	$ 14,106	$ 16,020
Plan modification, incremental cost	1,700	7,100	$ 14,600	$ 39,300
Number of Employees Terminated | employee			5	19
Restricted stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	6,083	6,311	$ 21,522	$ 30,324
Stock option awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	0	0	0	1
Performance stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense	$ 8,023	$ 9,709	25,191	39,260
Equity [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity based compensation expense			$ 46,713	$ 69,585

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock (Details) - Restricted stock	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Restricted Stock
Unvested balance, beginning of period | shares	3,821,231
Number of PSUs granted | shares	2,248,692
Vested | shares	(1,874,301)
Forfeited | shares	(565,008)
Unvested balance, end of period | shares	3,630,614
Weighted Average Fair Value
Unvested balance, beginning balance | $ / shares	$ 8.58
Granted | $ / shares	15.01
Vested | $ / shares	10.17
Forfeited | $ / shares	11.24
Unvested balance, ending balanced | $ / shares	$ 12.42
Maximum | Officer and employees
Weighted Average Fair Value
Vesting period	5 years
Minimum | Officer and employees
Weighted Average Fair Value
Vesting period	3 years

Stock-Based Compensation - Opti

Stock-Based Compensation - Option Activity (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Options
Outstanding, beginning of period (in shares) | shares	681,699
Granted (in shares) | shares	0
Option exercises (in shares) | shares	22,666
Forfeited (in shares) | shares	0
Expired (in shares) | shares	(238,500)
Outstanding, end of period (in shares) | shares	420,533
Exercisable (in shares) | shares	420,533
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	11.26
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	18.01
Outstanding, end of period (in dollars per share) | $ / shares	16.15
Exercisable, Weighted Average Exercise Price | $ / shares	$ 16.15
Outstanding, weighted average remaining term	3 years 2 months 12 days
Exercisable, weighted average remaining term	3 years 2 months 12 days
Outstanding, aggregate intrinsic value | $	$ 566,000
Exercisable, aggregate intrinsic value | $	$ 566,000

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions For Performance Stock Units (Details) - Performance stock units	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of PSUs granted | shares	731,472
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 14,106	$ 16,020
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested balance, beginning of period					5,019,425
Granted			731,472
Vested(1)			(283,462)
Forfeited			(123,052)
Unvested balanced, end of period	5,344,383		5,344,383
Fair value, beginning & ending of period	$ 16.54		$ 16.54		$ 15.18
Granted			24.81
Vested(1)			20.81
Forfeited			$ 19.77
Share-based Payment Arrangement, Expense	$ 8,023	$ 9,709	$ 25,191	$ 39,260

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments (Details) - Not Designated as Hedging Instrument	9 Months Ended
	Sep. 30, 2024 MMBTU bbl / d $ / bbl $ / MMBTU bbl
Crude Oil Basis Swap - Period One [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.97
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	45,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	4,186,000
Crude Oil Basis Swap - Period Two [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.11
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,870,000
Crude Oil Basis Swap - Period Three [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.11
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,913,000
Crude Oil Basis Swap - Period Four [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.11
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,956,000
Crude Oil Basis Swap - Period Five
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.11
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,956,000
Crude Oil Basis Swap - Period Six
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.15
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,575,000
Crude Oil Basis Swap - Period Seven
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.15
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,592,500
Crude Oil Roll Differential Swap - Period One
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.55
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	45,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	4,186,000
Crude Oil Roll Differential Swap - Period Two
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.42
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,870,000
Crude Oil Roll Differential Swap - Period Three
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.42
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,913,000
Crude Oil Roll Differential Swap - Period Four
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.42
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,956,000
Crude Oil Roll Differential Swap - Period Five
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.42
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,956,000
Crude Oil Roll Differential Swap - Period Six
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.28
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,575,000
Crude Oil Roll Differential Swap - Period Seven
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.28
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,592,500
Natural Gas Swaps - Henry Hub - Period One
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 Two [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 Three [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 Swaps - Henry Hub - Period Four [Member]
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 Swaps - Henry Hub - Period Five [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	4.20
Natural Gas Basis Swap - Period One [Member]
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.98
Volume (MMBtu) | MMBTU	11,040,000
Volume (MMBtu/d) | MMBTU	120,000
Natural Gas Basis Swap - Period two
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,600,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Basis Swap - Period Three
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,640,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Basis Swap - Period Four
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Basis Swap - Period Five
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.74
Volume (MMBtu) | MMBTU	3,680,000
Volume (MMBtu/d) | MMBTU	40,000
Natural Gas Collars - Period One
Derivative [Line Items]
Derivative, Average Floor Price	2.75
Volume (MMBtu) | MMBTU	5,106,101
Volume (MMBtu/d) | MMBTU	55,501
Derivative, Average Cap Price	5.29
Crude Oil Deferred Premium Puts - Period One
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	65
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	2,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	230,000
Derivative, Cap Price	4.96
Natural Gas Basis Swap - Period Six
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.61
Volume (MMBtu) | MMBTU	990,000
Volume (MMBtu/d) | MMBTU	11,000
Natural Gas Swaps - Henry Hub - Period Six
Derivative [Line Items]
Volume (MMBtu) | MMBTU	990,000
Volume (MMBtu/d) | MMBTU	11,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	4.18
Natural Gas Basis Swap - Period Seven
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.67
Volume (MMBtu) | MMBTU	1,001,000
Volume (MMBtu/d) | MMBTU	11,000
Natural Gas Swaps - Henry Hub - Period Seven
Derivative [Line Items]
Volume (MMBtu) | MMBTU	1,001,000
Volume (MMBtu/d) | MMBTU	11,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.48
Natural Gas Swaps - Henry Hub - Period nine
Derivative [Line Items]
Volume (MMBtu) | MMBTU	1,012,000
Volume (MMBtu/d) | MMBTU	11,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	4.21
Natural Gas Basis Swap - Period Nine
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.02
Volume (MMBtu) | MMBTU	1,012,000
Volume (MMBtu/d) | MMBTU	11,000
Crude Oil Roll Differential Swap - Period Eight
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.28
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,610,000
Crude Oil Roll Differential Swap - Period Nine
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	0.28
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,610,000
Natural Gas Swaps - Henry Hub - Period Eight
Derivative [Line Items]
Volume (MMBtu) | MMBTU	1,012,000
Volume (MMBtu/d) | MMBTU	11,000
Weighted Average Fixed Price ($/Bbl) | $ / MMBTU	3.80
Natural Gas Basis Swap - Period Eight
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.17
Volume (MMBtu) | MMBTU	1,012,000
Volume (MMBtu/d) | MMBTU	11,000
Crude Oil Basis Swap - Period Eight
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.15
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,610,000
Crude Oil Basis Swap - Period Nine
Derivative [Line Items]
Weighted Average Differential ($/MMBtu)	1.15
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,610,000
NYMEX WTI [Member] | Crude Oil Swap - Period One [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	75.08
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	41,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,772,000
NYMEX WTI [Member] | Crude Oil Swap - Period Two [Domain]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	75.15
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,870,000
NYMEX WTI [Member] | Crude Oil Swap - Period Three [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	73.85
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,913,000
NYMEX WTI [Member] | Crude Oil Swap - Period Four [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	72.65
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,956,000
NYMEX WTI [Member] | Crude Oil Swap - Period Five [Member]
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	71.62
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	43,000
Derivative, Nonmonetary Notional Amount, Volume | bbl	3,956,000
NYMEX WTI [Member] | Crude Oil Swap - Period Six
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	71.49
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,575,000
NYMEX WTI [Member] | Crude Oil Swap - Period Seven
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	70.61
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,592,500
NYMEX WTI [Member] | Crude Oil Swap - Period Eight
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	69.77
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,610,000
NYMEX WTI [Member] | Crude Oil Swap - Period Nine
Derivative [Line Items]
Weighted Average Fixed Price ($/Bbl)	69.08
Derivative, Nonmonetary Notional Amount, Volume Per Day | bbl / d	17,500
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,610,000
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	184,000

Derivative Instruments - Gains

Derivative Instruments - Gains and Losses from Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gain (loss) on derivative instruments	$ 238,533	$ (151,781)	$ 131,702	$ (76,668)

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Instruments Balance Sheet Classification (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative instruments
Derivative Assets
Gross Fair Value Asset/Liability Amounts	$ 134,106	$ 88,192
Gross Amounts Offset	(3,936)	(17,601)
Net Recognized Fair Value Assets/Liabilities	130,170	70,591
Noncurrent Assets [Member]
Derivative Assets
Gross Fair Value Asset/Liability Amounts	55,088	29,469
Gross Amounts Offset	(323)	(2,435)
Net Recognized Fair Value Assets/Liabilities	54,765	27,034
Other current liabilities
Derivative Liabilities
Gross Fair Value Asset/Liability Amounts	3,936	20,326
Gross Amounts Offset	(3,936)	(17,601)
Net Recognized Fair Value Assets/Liabilities	0	2,725
Non Current Liabilities [Member]
Derivative Liabilities
Gross Fair Value Asset/Liability Amounts	323	3,762
Gross Amounts Offset	(323)	(2,435)
Net Recognized Fair Value Assets/Liabilities	$ 0	$ 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	Sep. 30, 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	184,935	97,625
Derivative Liability	0	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	Sep. 30, 2024	Aug. 05, 2024	Dec. 31, 2023	Nov. 01, 2023	Sep. 12, 2023	Sep. 01, 2022	Mar. 26, 2021	Mar. 19, 2021	Mar. 15, 2019	Nov. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	$ 4,184,259		$ 3,848,781
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	$ 4,184,259		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%
Long-term Debt, Gross	$ 289,448		289,448
Debt Instrument, Face Amount	289,400									$ 400,000
Fair value of debt instrument	$ 288,690		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	$ 0		356,351
Debt Instrument, Face Amount									$ 500,000
Fair value of debt instrument	$ 0		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	166,600
Debt Instrument, Face Amount			170,000				$ 20,000	$ 150,000
Fair value of debt instrument	418,342		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	0		300,000
Debt Instrument, Face Amount	0		300,000			$ 300,000
Fair value of debt instrument	$ 0		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	700,726		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	1,041,193		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	557,490		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	566,850		568,473
2033 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage		6.25%
Long-term Debt, Gross	1,000,000		0
Debt Instrument, Face Amount	1,000,000	$ 1,000,000	0
Fair value of debt instrument	1,018,607		0
Revolving Credit Facility | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	0		0
Debt Instrument, Face Amount	0		0
Fair value of debt instrument	0		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	288,115		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	0		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	166,573		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	0		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	663,299		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	984,008		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	533,646		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	561,976		565,063
Carrying Value | 2033 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	986,642		0
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	$ 0		$ 0

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Jul. 30, 2024

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Sep. 03, 2024

Dec. 31, 2023

Sep. 01, 2022

Class of Stock [Line Items]

Share repurchases

$ (61,000)

$ (57,300)

Cash dividends and NCI distributions

$ 170,156

$ 57,587

$ 440,291

143,089

Proceeds from equity offering, net

$ 402,211

$ 0

Common Stock, Dividends, Per Share, Declared

$ 0.21

$ 0.10

$ 0.56

$ 0.25

O 2024 A Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

0.17

O 2024 Q3 Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

0.06

O 2023 A Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

0.15

O 2023 Q3 Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

0.05

S 2024 A Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.39

S 2024 Q3 Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.15

S 2023 A Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.10

S 2023 Q3 Dividends

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.05

OpCo

Class of Stock [Line Items]

Ownership interest of non-controlling interest

12%

12%

30%

Class A | Common Stock

Class of Stock [Line Items]

Conversion of common shares from Class C to Class A, net of tax (in shares)

293

85,104

41,356

27,210

1,011

20,906

Proceeds from equity offering, net

$ 402,200

Issuance of Class C Common Stock (in shares)

26,500

26,500

6,242

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)

$ 89,700

$ 16,600

Conversion of common shares from Class C to Class A, net of tax (in shares)

126,800

49,100

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 A | New Repurchase Program

Equity [Abstract]

Stock repurchase program, authorized amount

$ 1,000,000

Class of Stock [Line Items]

Stock repurchase program, authorized amount

$ 1,000,000

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to Class A Common Stock	$ 386,376	$ 45,433	$ 768,051	$ 220,952
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities	1,305	1,374	3,887	4,116
Net Income (Loss) Available to Common Stockholders, Diluted	$ 387,681	$ 46,807	$ 771,938	$ 225,068
Basic weighted average shares of Class A Common Stock outstanding (in shares)	693,692	324,650	619,741	312,015
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	13,430	13,695	14,457	11,819
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	29,117	27,829	29,117	27,583
Diluted weighted average shares of Class A Common Stock outstanding (in shares)	736,239	366,174	663,315	351,417
Basic net earnings per share of Class A Common Stock (USD per share)	$ 0.56	$ 0.14	$ 1.24	$ 0.71
Diluted net earnings per share of Class A Common Stock (USD per share)	$ 0.53	$ 0.13	$ 1.16	$ 0.64

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 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)	436	1,022	482	1,451
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-diluted shares excluded from computation of earnings per share (in shares)	325	0	182	69
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)	100,670	241,340	159,396	250,018
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-diluted shares excluded from computation of earnings per share (in shares)	831	0	277	39

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Stock Repurchased and Retired During Period, Shares			3.8	5
Share repurchases	$ (61,000)			$ (57,300)
Accounts receivable, net	439,338		$ 439,338		$ 481,060
Oil and gas sales	1,215,571	$ 758,541	3,704,653	1,998,207
Streamline | Affiliated Entity
Related Party Transaction [Line Items]
Costs and Expenses, Related Party	$ 2,556	$ 1,782	$ 6,599	$ 3,616

Commitments and Contingencies -

Commitments and Contingencies - Commitments and Contingencies (Details) bbl / d in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) bbl / d $ / bbl
Purchase Commitment, Excluding Long-Term Commitment [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 7,600
Electricity Agreement [Member]
Purchase Commitment, Excluding Long-Term Commitment [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 45,200
NGL sales(2)
Purchase Commitment, Excluding Long-Term Commitment [Line Items]
Oil and Gas Delivery Commitments and Contracts, Daily Production | bbl / d	9
NGL Commitment Remaining Term	3 years 6 months
Oil and Gas, Delivery Commitment, Fixed Price, Under-delivery Fee | $ / bbl	3.36

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 1,215,571	$ 758,541	$ 3,704,653	$ 1,998,207
Oil sales
Disaggregation of Revenue [Line Items]
Oil and gas sales	1,099,318	660,445	3,265,303	1,734,057
Natural gas sales(1)
Disaggregation of Revenue [Line Items]
Oil and gas sales	(37,087)	38,354	(21,351)	94,123
NGL sales(2)
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 153,340	$ 59,742	$ 460,701	$ 170,027

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Oil and gas sales	$ 1,215,571	$ 758,541	$ 3,704,653	$ 1,998,207
Accrued oil and gas sales receivable, net	227,200		$ 227,200		$ 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	1,099,318	660,445	$ 3,265,303	1,734,057
NGL sales(2)
Disaggregation of Revenue [Line Items]
Oil and gas sales	153,340	59,742	460,701	170,027
Reduction to NGL	23,000	16,300	64,700	48,900
Natural gas sales(1)
Disaggregation of Revenue [Line Items]
Oil and gas sales	(37,087)	38,354	(21,351)	94,123
Reduction to NGL	$ 26,200	$ 12,000	$ 75,100	$ 30,700

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended		9 Months Ended
	Nov. 06, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared		$ 0.21	$ 0.10	$ 0.56	$ 0.25
Subsequent Event | Class A
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.15
Subsequent Event | Common Unit Of OpCo. | Base Dividend
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.15