Continental Resources Inc (CLR) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	9 Months Ended
	Sep. 30, 2024 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-32886
Entity Registrant Name	CONTINENTAL RESOURCES, INC
Entity Central Index Key	0000732834
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	OK
Entity Tax Identification Number	73-0767549
Entity Address, Address Line One	20 N. Broadway
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73102
City Area Code	405
Local Phone Number	234-9000
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 32,793	$ 26,397
Receivables:
Crude oil, natural gas, and natural gas liquids sales	970,420	1,196,262
Joint interest and other	325,351	350,907
Allowance for credit losses	(3,915)	(3,172)
Receivables, net	1,291,856	1,543,997
Derivative assets	215,069	353,261
Inventories	193,246	190,762
Prepaid expenses and other	124,238	33,450
Total current assets	1,857,202	2,147,867
Net property and equipment, based on successful efforts method of accounting	19,729,508	19,786,889
Investment in unconsolidated affiliates	259,473	240,484
Operating lease right-of-use assets	24,976	38,656
Derivative assets, noncurrent	167,699	155,252
Other noncurrent assets	17,842	18,293
Total assets	22,056,700	22,387,441
Current liabilities:
Accounts payable trade	912,138	835,012
Revenues and royalties payable	585,547	768,381
Accrued liabilities and other	343,136	354,537
Current portion of incentive compensation liability	66,498	130,583
Current portion of income tax liabilities	0	84,556
Derivative liabilities	2	0
Current portion of operating lease liabilities	7,823	18,112
Current portion of long-term debt	2,564	895,105
Total current liabilities	1,917,708	3,086,286
Long-term debt, net of current portion	4,963,111	5,734,007
Other noncurrent liabilities:
Deferred income tax liabilities, net	2,836,574	2,867,283
Incentive compensation liability, noncurrent	30,674	41,707
Asset retirement obligations, noncurrent	409,686	391,957
Derivative liabilities, noncurrent	0	586
Operating lease liabilities, noncurrent	16,064	19,482
Other noncurrent liabilities	387,791	36,346
Total other noncurrent liabilities	3,680,789	3,357,361
Commitments and contingencies (Note 8)
Equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized 299,610,267 shares issued and outstanding at September 30, 2024 and December 31, 2023	2,996	2,996
Retained earnings	11,131,184	9,850,687
Total shareholders’ equity attributable to Continental Resources	11,134,180	9,853,683
Noncontrolling interests	360,912	356,104
Total equity	11,495,092	10,209,787
Total liabilities and equity	$ 22,056,700	$ 22,387,441

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	299,610,267	299,610,267
Common stock, outstanding	299,610,267	299,610,267

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Crude oil, natural gas, and natural gas liquids sales	$ 1,711,932	$ 2,082,331	$ 5,523,563	$ 5,663,672
Gain (loss) on derivative instruments, net	270,001	(335,111)	161,536	270,795
Crude oil and natural gas service operations	24,207	30,119	68,532	73,716
Total revenues	2,006,140	1,777,339	5,753,631	6,008,183
Operating costs and expenses:
Production expenses	193,838	175,804	565,212	532,197
Production and ad valorem taxes	131,753	162,535	428,252	440,364
Transportation, gathering, processing, and compression	89,206	86,873	288,603	245,267
Exploration expenses	3,900	2,835	10,990	10,747
Crude oil and natural gas service operations	20,318	22,364	69,673	61,343
Depreciation, depletion, amortization and accretion	613,940	576,995	1,873,282	1,603,618
Property impairments	12,532	11,027	34,718	46,469
General and administrative expenses	64,630	112,368	211,554	230,752
Net (gain) loss on sale of assets and other	3,439	51,389	37,971	51,041
Total operating costs and expenses	1,133,556	1,202,190	3,520,255	3,221,798
Income from operations	872,584	575,149	2,233,376	2,786,385
Other income (expense):
Interest expense	(63,677)	(100,885)	(215,313)	(306,014)
Loss on extinguishment of debt	0	0	(1,600)	0
Other	49,449	3,902	(331,632)	8,561
Total other income (expense)	(14,228)	(96,983)	(548,545)	(297,453)
Income before income taxes	858,356	478,166	1,684,831	2,488,932
Provision for income taxes	(138,470)	(105,994)	(401,059)	(539,139)
Income before equity in net loss of affiliate	719,886	372,172	1,283,772	1,949,793
Equity in net loss of affiliate	(769)	(883)	(2,981)	(2,041)
Net income	719,117	371,289	1,280,791	1,947,752
Net income attributable to noncontrolling interests	60	501	333	1,854
Net income attributable to Continental Resources	$ 719,057	$ 370,788	$ 1,280,458	$ 1,945,898

Condensed Consolidated Statemen

Condensed Consolidated Statements of Shareholders Equity - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Continental Resources Shareholders' Equity	Noncontrolling Interest
Balance at Dec. 31, 2022		$ 2,996	$ 6,754,174	$ 6,757,170
Balance, shares at Dec. 31, 2022		299,610,267
Noncontrolling interests at Dec. 31, 2022					$ 372,438
Total Equity at Dec. 31, 2022	$ 7,129,608
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Continental Resources	1,945,898		1,945,898	1,945,898
Net income attributable to noncontrolling interests	1,854				1,854
Net income	1,947,752
Change in dividends payable	652		652	652
Contributions from Noncontrolling Interests	8,809				8,809
Distributions to Noncontrolling Interests	(22,792)				(22,792)
Noncontrolling interests at Sep. 30, 2023					360,309
Total Equity at Sep. 30, 2023	9,064,029
Balance at Sep. 30, 2023		$ 2,996	8,700,724	8,703,720
Balance, shares at Sep. 30, 2023		299,610,267
Balance at Jun. 30, 2023		$ 2,996	8,329,936	8,332,932
Balance, shares at Jun. 30, 2023		299,610,267
Noncontrolling interests at Jun. 30, 2023					362,513
Total Equity at Jun. 30, 2023	8,695,445
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Continental Resources	370,788		370,788	370,788
Net income attributable to noncontrolling interests	501				501
Net income	371,289
Contributions from Noncontrolling Interests	2,636				2,636
Distributions to Noncontrolling Interests	(5,341)				(5,341)
Noncontrolling interests at Sep. 30, 2023					360,309
Total Equity at Sep. 30, 2023	9,064,029
Balance at Sep. 30, 2023		$ 2,996	8,700,724	8,703,720
Balance, shares at Sep. 30, 2023		299,610,267
Balance at Dec. 31, 2023	$ 9,853,683	$ 2,996	9,850,687	9,853,683
Balance, shares at Dec. 31, 2023	299,610,267	299,610,267
Noncontrolling interests at Dec. 31, 2023	$ 356,104				356,104
Total Equity at Dec. 31, 2023	10,209,787
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Continental Resources	1,280,458		1,280,458	1,280,458
Net income attributable to noncontrolling interests	333				333
Net income	1,280,791
Change in dividends payable	39		39	39
Contributions from Noncontrolling Interests	21,745				21,745
Distributions to Noncontrolling Interests	(17,270)				(17,270)
Noncontrolling interests at Sep. 30, 2024	360,912				360,912
Total Equity at Sep. 30, 2024	11,495,092
Balance at Sep. 30, 2024	$ 11,134,180	$ 2,996	11,131,184	11,134,180
Balance, shares at Sep. 30, 2024	299,610,267	299,610,267
Balance at Jun. 30, 2024		$ 2,996	10,412,107	10,415,103
Balance, shares at Jun. 30, 2024		299,610,267
Noncontrolling interests at Jun. 30, 2024					363,885
Total Equity at Jun. 30, 2024	$ 10,778,988
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Continental Resources	719,057		719,057	719,057
Net income attributable to noncontrolling interests	60				60
Net income	719,117
Change in dividends payable	20		20	20
Contributions from Noncontrolling Interests	2,149				2,149
Distributions to Noncontrolling Interests	(5,182)				(5,182)
Noncontrolling interests at Sep. 30, 2024	360,912				$ 360,912
Total Equity at Sep. 30, 2024	11,495,092
Balance at Sep. 30, 2024	$ 11,134,180	$ 2,996	$ 11,131,184	$ 11,134,180
Balance, shares at Sep. 30, 2024	299,610,267	299,610,267

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Net income	$ 1,280,791	$ 1,947,752
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	1,867,675	1,607,034
Property impairments	34,718	46,469
Non-cash (gain) loss on derivatives	125,161	(61,371)
Provision (benefit) for deferred income taxes	(30,710)	168,368
Equity in net loss of affiliate	2,981	2,041
Net (gain) loss on sale of assets	36,401	51,041
Loss on extinguishment of debt	1,600	0
Other, net	379,049	11,547
Changes in assets and liabilities:
Accounts receivable	250,153	65,699
Inventories	(2,406)	(34,626)
Other current assets	(90,196)	(2,955)
Accounts payable trade	53,685	(30,138)
Revenues and royalties payable	(182,764)	(31,810)
Accrued liabilities and other	(13,501)	(11,837)
Incentive compensation liability	(75,118)	(57,399)
Current income taxes liability	(84,556)	(85,482)
Other noncurrent assets and liabilities	(18,855)	(14,976)
Net cash provided by operating activities	3,534,108	3,569,357
Cash flows from investing activities
Exploration and development	(2,142,748)	(2,798,272)
Purchase of producing crude oil and natural gas properties	(1,246)	(162,022)
Purchase of other property and equipment	(161,188)	(169,649)
Proceeds from sale of assets	467,048	377,428
Contributions to unconsolidated affiliates	(21,473)	(18,624)
Net cash used in investing activities	(1,859,607)	(2,771,139)
Cash flows from financing activities
Credit facility borrowings	3,016,000	4,084,000
Repayment of credit facility	(3,041,000)	(4,313,000)
Redemption of senior notes	(893,126)	(636,000)
Repayment of other debt	(751,863)	(1,799)
Debt issuance costs	0	(242)
Contributions from noncontrolling interests	21,560	7,666
Distributions to noncontrolling interests	(17,334)	(25,326)
Dividends paid on common stock	(2,342)	(2,052)
Net cash used in financing activities	(1,668,105)	(886,753)
Net change in cash and cash equivalents	6,396	(88,535)
Cash and cash equivalents at beginning of period	26,397	137,788
Cash and cash equivalents at end of period	$ 32,793	$ 49,253

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)	$ 719,057	$ 370,788	$ 1,280,458	$ 1,945,898

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

Organization and Nature of Busi

Organization and Nature of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Note 1. Org anization and Nature of Business Nature of Business Continental Resources, Inc. (the “Company”) was formed in 1967 and is incorporated under the laws of the State of Oklahoma. The Company’s principal business is the exploration, development, management, and production of crude oil and natural gas and associated products with properties primarily located in four leading basins in the United States – the Bakken field of North Dakota and Montana, the Anadarko Basin of Oklahoma, the Permian Basin of Texas, and the Powder River Basin of Wyoming. Additionally, the Company pursues the acquisition and management of perpetually owned minerals located in certain of its key operating areas. For the nine months ended September 30, 2024, crude oil accounted for 54 % of the Company’s total production and 88 % of its crude oil, natural gas, and natural gas liquids revenues. Voluntary Filer The Company is privately owned by its founder, Harold G. Hamm, certain members of his family and their affiliated entities (the “Hamm Family”). As of September 30, 2024 , the Hamm Family holds approximately 299.6 million shares of common stock of the Company. As a privately held company, certain of the corporate governance, disclosure, and other provisions applicable to a company with listed equity securities and reporting obligations under the Securities Exchange Act of 1934 do not apply to us. We continue to furnish Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K with the SEC as required by our senior note indentures.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Note 2. Basis of Presentation and Significant Accounting Policies Basis of presentation The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities in which the Company has a controlling financial interest. Intercompany accounts and transactions have been eliminated upon consolidation. Noncontrolling interests reflected herein represent third party ownership in the net assets of consolidated subsidiaries. The portions of consolidated net income and equity attributable to the noncontrolling interests are presented separately in the Company’s financial statements. Investments in entities in which the Company has the ability to exercise significant influence, but does not control, are accounted for using the equity method of accounting. In applying the equity method, the investments are initially recognized at cost and are subsequently adjusted for the Company's proportionate share of earnings, losses, contributions, and distributions, as applicable. This report has been prepared pursuant to rules and regulations applicable to interim financial information. Because this is an interim period filing presented using a condensed format, it does not include all disclosures required by accounting principles generally accepted in the United States (“U.S. GAAP”), although the Company believes the disclosures are adequate to make the information not misleading. You should read this Quarterly Report on Form 10-Q (“Form 10-Q”) together with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”), which includes a summary of the Company’s significant accounting policies and other disclosures. The condensed consolidated financial statements as of September 30, 2024 and for the three and nine month periods ended September 30, 2024 and 2023 are unaudited. The condensed consolidated balance sheet as of December 31, 2023 was derived from the audited balance sheet included in the 2023 Form 10-K. The Company evaluated its September 30, 2024 financial statements for subsequent events through November 12, 2024, the date the financial statements were available to be issued. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure and estimation of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. The most significant estimates and assumptions impacting reported results are estimates of the Company’s crude oil and natural gas reserves, which are used to compute depreciation, depletion, amortization and impairment of proved crude oil and natural gas properties. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation in accordance with U.S. GAAP have been included in these unaudited condensed consolidated financial statements. The results of operations for any interim period are not necessarily indicative of the results of operations that may be expected for any other interim period or for an entire year.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Note 3. Supplemental Cash Flow Information The following table discloses supplemental cash flow information about cash paid for interest and income tax payments and refunds. Also disclosed is information about investing activities that affects recognized assets and liabilities but does not result in cash receipts or payments. Nine months ended September 30, In thousands 2024 2023 Supplemental cash flow information: Cash paid for interest $ 227,609 $ 303,011 Cash paid for income taxes (1) 614,401 456,253 Cash received for income tax refunds 3,266 2 Non-cash investing activities: Asset retirement obligation additions and revisions, net 15,785 9,057 (1) Amounts represent estimated quarterly payments for U.S. federal and state income taxes based on estimates of taxable income for the year. As of September 30, 2024 and December 31, 2023 , the Company had $ 386.2 million and $ 367.2 million, respectively, of accrued capital expenditures included in “Net property and equipment” with an offsetting amount in “Accounts payable trade” in the condensed consolidated balance sheets.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Note 4. Revenues The following table presents the disaggregation of the Company's crude oil and natural gas revenues by operating area for the three and nine months ended September 30, 2024 and 2023. Sales of natural gas and NGLs are combined, as a substantial majority of the Company's natural gas sales contracts represent wellhead sales of unprocessed gas. Three months ended September 30, 2024 Three months ended September 30, 2023 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 835,950 $ 51,336 $ 887,286 $ 1,089,502 $ 79,952 $ 1,169,454 Anadarko Basin 213,883 112,981 326,864 288,993 168,442 457,435 Powder River Basin 92,570 8,429 100,999 106,407 9,333 115,740 Permian Basin 349,384 11,537 360,921 269,787 23,960 293,747 All other 35,838 24 35,862 45,921 34 45,955 Crude oil, natural gas, and natural gas liquids sales $ 1,527,625 $ 184,307 $ 1,711,932 $ 1,800,610 $ 281,721 $ 2,082,331 Nine months ended September 30, 2024 Nine months ended September 30, 2023 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 2,634,637 $ 192,682 $ 2,827,319 $ 2,732,748 $ 292,621 $ 3,025,369 Anadarko Basin 729,908 386,280 1,116,188 754,983 527,240 1,282,223 Powder River Basin 315,112 30,864 345,976 302,577 31,437 334,014 Permian Basin 1,073,837 42,798 1,116,635 826,361 59,666 886,027 All other 117,371 74 117,445 135,903 136 136,039 Crude oil, natural gas, and natural gas liquids sales $ 4,870,865 $ 652,698 $ 5,523,563 $ 4,752,572 $ 911,100 $ 5,663,672

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 5. Derivative Instruments From time to time the Company enters into derivative contracts to economically hedge against the variability in cash flows associated with future sales of production. The Company recognizes its derivative instruments on the balance sheet as either assets or liabilities measured at fair value. The estimated fair value is based upon various factors, as described in Note 6. Fair Value Measurements . At September 30, 2024 the Company had outstanding derivative contracts as set forth in the tables below. Natural gas derivatives Period and Type of Contract Average Volumes Hedged Weighted Average Hedge Price ($/MMBtu) October 2024 - December 2024 Swaps - Henry Hub 697,000 MMBtus/day $ 3.38 January 2025 - December 2025 Swaps - Henry Hub 602,000 MMBtus/day $ 3.90 January 2026 - December 2026 . Swaps - Henry Hub 635,000 MMBtus/day $ 4.11 January 2027 - December 2027 Swaps - Henry Hub 613,000 MMBtus/day $ 3.92 Crude oil derivatives Weighted Average Period and Type of Contract Average Volumes Hedged Roll Swaps Fixed Swaps October 2024 - December 2024 Roll Swaps - NYMEX 60,000 Bbls/day $ 0.73 Fixed Swaps - WTI 83,000 Bbls/day $ 77.55 January 2025 - February 2025 Fixed Swaps - WTI 24,000 Bbls/day $ 80.25 Derivative gains and losses Cash receipts and payments in the following table reflect the gains or losses on derivative contracts which matured during the applicable period, calculated as the difference between the contract price and the market settlement price of matured contracts. The Company's derivative contracts are settled based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on NYMEX West Texas Intermediate (“WTI”) pricing and natural gas derivative settlements based primarily on NYMEX Henry Hub pricing. Non-cash gains and losses below represent the change in fair value of derivative instruments which continued to be held at period end and the reversal of previously recognized non-cash gains or losses on derivative contracts that matured during the period. Three months ended September 30, Nine months ended September 30, In thousands 2024 2023 2024 2023 Cash received (paid) on derivatives: Crude oil fixed price swaps $ 18,258 $ ( 24,416 ) $ 3,410 $ 15,335 Crude oil NYMEX roll swaps ( 1,957 ) 976 76 3,542 Natural gas basis swaps — 960 — 2,942 Natural gas WAHA swaps 13,262 3,384 40,184 12,747 Natural gas fixed price swaps 74,480 53,110 226,958 146,737 Natural gas collars — — 16,069 24,380 Natural gas 3-way collars — — — 3,741 Cash received on derivatives, net 104,043 34,014 286,697 209,424 Non-cash gain (loss) on derivatives: Crude oil fixed price swaps 113,723 ( 344,555 ) ( 53,757 ) ( 191,926 ) Crude oil NYMEX roll swaps 1,851 ( 7,006 ) ( 6,825 ) ( 7,723 ) Natural gas basis swaps — ( 806 ) — ( 7,407 ) Natural gas WAHA swaps ( 8,348 ) 3,193 ( 21,523 ) ( 7,566 ) Natural gas fixed price swaps 58,732 ( 24,707 ) ( 31,133 ) 241,284 Natural gas collars — 4,756 ( 11,923 ) 35,307 Natural gas 3-way collars — — — ( 598 ) Non-cash gain (loss) on derivatives, net 165,958 ( 369,125 ) ( 125,161 ) 61,371 Gain (loss) on derivative instruments, net $ 270,001 $ ( 335,111 ) $ 161,536 $ 270,795 Balance sheet offsetting of derivative assets and liabilities The Company’s derivative contracts are recorded at fair value in the condensed consolidated balance sheets under the captions “Derivative assets,” “Derivative assets, noncurrent,” “Derivative liabilities,” and “Derivative liabilities, noncurrent” as applicable. Derivative assets and liabilities with the same counterparty that are subject to contractual terms which provide for net settlement are reported on a net basis in the condensed consolidated balance sheets. The following table presents the gross amounts of recognized derivative assets and liabilities, as applicable, the amounts offset under netting arrangements with counterparties, and the resulting net amounts presented in the condensed consolidated balance sheets for the periods presented, all at fair value. In thousands September 30, 2024 December 31, 2023 Commodity derivative assets: Gross amounts of recognized assets $ 385,901 $ 510,375 Gross amounts offset on balance sheet ( 3,133 ) ( 1,862 ) Net amounts of assets on balance sheet 382,768 508,513 Commodity derivative liabilities: Gross amounts of recognized liabilities ( 3,135 ) ( 2,448 ) Gross amounts offset on balance sheet 3,133 1,862 Net amounts of liabilities on balance sheet $ ( 2 ) $ ( 586 ) The following table reconciles the net amounts disclosed above to the individual financial statement line items in the condensed consolidated balance sheets. In thousands September 30, 2024 December 31, 2023 Derivative assets $ 215,069 $ 353,261 Derivative assets, noncurrent 167,699 155,252 Net amounts of assets on balance sheet 382,768 508,513 Derivative liabilities ( 2 ) — Derivative liabilities, noncurrent — ( 586 ) Net amounts of liabilities on balance sheet ( 2 ) ( 586 ) Total derivative assets (liabilities), net $ 382,766 $ 507,927

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6. Fair Value Measurements Derivative Instruments The Company's derivative instruments are reported at fair value on a recurring basis. In determining the fair values of swap contracts, a discounted cash flow method is used due to the unavailability of relevant comparable market data for the Company’s exact contracts. The discounted cash flow method estimates future cash flows based on quoted market prices for forward commodity prices and a risk-adjusted discount rate. The fair values of swap contracts are calculated mainly using significant observable inputs (Level 2). Calculation of the fair values of collars requires the use of an industry-standard option pricing model that considers various inputs including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. These assumptions are observable in the marketplace or can be corroborated by active markets or broker quotes and are therefore designated as Level 2 within the valuation hierarchy. The Company’s calculation of fair value for each of its derivative positions is compared to the counterparty valuation for reasonableness. The following tables summarize the valuation of derivative instruments by pricing levels that were accounted for at fair value on a recurring basis as of September 30, 2024 and December 31, 2023. Fair value measurements at September 30, 2024 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 92,488 $ — $ 92,488 Crude oil NYMEX roll swaps — 62 — 62 Natural gas WAHA swaps — — — — Natural gas fixed price swaps — 290,216 — 290,216 Natural gas collars — — — — Total $ — $ 382,766 $ — $ 382,766 Fair value measurements at December 31, 2023 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 146,243 $ — $ 146,243 Crude oil NYMEX roll swaps — 6,888 — 6,888 Natural gas WAHA swaps — 21,523 — 21,523 Natural gas fixed price swaps — 321,350 — 321,350 Natural gas collars — 11,923 — 11,923 Total $ — $ 507,927 $ — $ 507,927 Stock Redemption Option In conjunction with estate planning for Harold G. Hamm, in June 2024 Continental entered into a Redemption Agreement with Mr. Hamm and certain members of his family whereby, following Mr. Hamm’s passing, his estate may, but is not obligated to, elect from time-to-time to require Continental to redeem sufficient shares to enable the estate to fund the payment of estate taxes and interest as they become due. Mr. Hamm’s potential estate tax liability is expected to be primarily based on the fair market value his estate assigns to his Continental stock at the time of passing. Mr. Hamm currently owns approximately 52 % of Continental’s outstanding common stock. The future value of Continental and resulting estate tax liability are subject to numerous uncertainties and cannot be reasonably quantified at present. The agreement contemplates that Mr. Hamm’s estate will defer and pay the potential estate taxes and related interest in installments over a period of up to 14 years as permitted by the Internal Revenue Code, with the first five years being comprised of interest-only payments and the remaining nine years being comprised of principal and interest payments. Assuming the estate elects to exercise its redemption rights, Continental’s potential obligations are expected to occur over the same 14 year period in conjunction with the estate’s installment payments. The redemption agreement has no specified number of shares to be redeemed, no specified share repurchase price, no fixed duration of time, and no determinable cash outflows, all of which are unknown and subject to change based on the tax laws in effect and the value of Continental to be determined after Mr. Hamm’s passing. Although the timing and amount of Continental’s potential obligations under the agreement cannot be reasonably quantified, at September 30, 2024 the Company has recognized a $ 342 million liability on its balance sheet within the caption “Other noncurrent liabilities” with a corresponding charge to "Other income (expense)—Other” on the statement of income for the nine months ended September 30, 2024 to reflect the intrinsic value of the redemption optionality features contained in the arrangement pursuant to ASC Topic 820, Fair Value Measurement. Such value was determined using simulation models that consider various unobservable inputs and thus represents a Level 3 measurement under the ASC 820 valuation hierarchy.

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Note 7. Debt The Company's debt, net of unamortized discounts, premiums, and debt issuance costs totaling $ 35.2 million and $ 41.7 million at September 30, 2024 and December 31, 2023, respectively, consists of the following. In thousands September 30, 2024 December 31, 2023 Credit facility $ 185,000 $ 210,000 Term Loan — 748,092 Notes payable 15,789 17,642 3.8 % Senior Notes due 2024 — 892,610 2.268 % Senior Notes due 2026 796,674 795,541 4.375 % Senior Notes due 2028 995,303 994,327 5.75 % Senior Notes due 2031 1,486,737 1,485,460 2.875 % Senior Notes due 2032 793,546 792,977 4.9 % Senior Notes due 2044 692,626 692,463 Total debt $ 4,965,675 $ 6,629,112 Less: Current portion of long-term debt 2,564 895,105 Long-term debt, net of current portion $ 4,963,111 $ 5,734,007 Credit Facility At September 30, 2024 the Company had a credit facility, maturing in October 2026, with aggregate lender commitments totaling $ 2.255 billion. On October 29, 2024, the Company replaced the prior facility with a new facility containing substantially the same terms as the prior facility with the exception of the change to the terms governing the calculation described under “New Facility” below. The New Facility extended the maturity date to October 2029 and reduced the aggregate lender commitments to $ 1.80 billion. The New Facility also revised the financial covenant calculation for consolidated net debt to total capitalization to exclude certain accounting impacts of the Redemption Agreement described in Note 6. Fair Value Measurements — Stock Redemption Option . The New Facility remains unsecured and has no borrowing base requirement subject to redetermination. The Company had $ 185 million of outstanding borrowings on its credit facility at September 30, 2024. Credit facility borrowings bear interest at market-based interest rates plus a margin based on the terms of the borrowing and the credit ratings assigned to the Company’s senior, unsecured, long-term indebtedness. The weighted-average interest rate on outstanding credit facility borrowings at September 30, 2024 was 6.7 %. The Company incurs commitment fees based on currently assigned credit ratings of 0.20 % per annum on the daily average amount of unused borrowing availability. The New Facility contains certain restrictive covenants, including a requirement that the Company maintain a consolidated net debt to total capitalization ratio of no greater than 0.65 to 1.00, which is unchanged from the prior credit facility. This ratio represents the ratio of (a) net debt (calculated as total face value of debt plus outstanding letters of credit less cash and cash equivalents) divided by (b) the sum of net debt plus total shareholders' equity (i) plus, to the extent resulting in a reduction of total shareholders’ equity, the amount of any non-cash impairment charges incurred, net of any tax effect, after June 30, 2014 and (ii) plus (to the extent resulting in a reduction of total shareholders’ equity) or minus (to the extent resulting in an increase of total shareholders’ equity), as applicable, the amount of the non-cash impact of the accounting treatment for the Redemption Agreement. The Company was in compliance with the credit facility covenants at September 30, 2024. Senior Notes The following table summarizes the face values, maturity dates, semi-annual interest payment dates, and optional redemption periods related to the Company’s outstanding senior note obligations at September 30, 2024. 2026 Notes 2028 Notes 2031 Notes 2032 Notes 2044 Notes Face value (in thousands) $ 800,000 $ 1,000,000 $ 1,500,000 $ 800,000 $ 700,000 Maturity date November 15, 2026 January 15, 2028 January 15, 2031 April 1, 2032 June 1, 2044 Interest payment dates May 15, Nov 15 Jan 15, July 15 Jan 15, July 15 April 1, Oct 1 June 1, Dec 1 Make-whole redemption period (1) Nov 15, 2023 Oct 15, 2027 July 15, 2030 January 1, 2032 Dec 1, 2043 (1) At any time prior to the indicated dates, the Company has the option to redeem all or a portion of its senior notes of the applicable series at the “make-whole” redemption amounts specified in the respective senior note indentures plus any accrued and unpaid interest to the date of redemption. On or after the indicated dates, the Company may redeem all or a portion of its senior notes at a redemption amount equal to 100 % of the principal amount of the senior notes being redeemed plus any accrued and unpaid interest to the date of redemption. The Company’s senior notes are not subject to any mandatory redemption or sinking fund requirements. The indentures governing the Company’s senior notes contain covenants that, among other things, limit the Company’s ability to create liens securing certain indebtedness, enter into certain sale-leaseback transactions, or consolidate, merge or transfer certain assets. These covenants are subject to a number of important exceptions and qualifications. The Company was in compliance with these covenants at September 30, 2024. The senior notes are obligations of Continental Resources, Inc. Additionally, certain of the Company’s wholly-owned subsidiaries (Banner Pipeline Company, L.L.C., CLR Asset Holdings, LLC, The Mineral Resources Company, SCS1 Holdings LLC, Continental Innovations LLC, Jagged Peak Energy LLC, and Parsley SoDe Water LLC) fully and unconditionally guarantee the senior notes on a joint and several basis. The financial information of the guarantor group is not materially different from the consolidated financial statements of the Company. The Company’s other subsidiaries, whose assets, equity, and results of operations attributable to the Company are not material, do not guarantee the senior notes. Redemption of Senior Notes In June 2024, the Company repaid its outstanding $ 893.1 million of 2024 Notes that were scheduled to mature on June 1, 2024. The redemption price was equal to 100 % of the principal amount plus accrued and unpaid interest to the redemption date. The aggregate of the principal amount and accrued interest paid upon redemption was $ 910.1 million. Repayment of Term Loan In November 2022, the Company borrowed $ 750 million under a three-year term loan agreement that was scheduled to mature in November 2025. The Company repaid $ 100 million of the term loan during the three months ended March 31, 2024 and repaid the remaining $ 650 million during the three months ended June 30, 2024.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Transportation, gathering, and processing commitments – The Company has entered into transportation, gathering, and processing commitments to guarantee capacity on crude oil and natural gas pipelines and natural gas processing facilities. Certain of the commitments, which have varying terms extending as far as 2031 , require the Company to pay per-unit transportation, gathering, or processing charges regardless of the amount of capacity used. Future commitments remaining as of September 30, 2024 under the arrangements amount to approximately $ 868 million, of which $ 88 million is expected to be incurred in the remainder of 2024, $ 281 million in 2025, $ 218 million in 2026, $ 203 million in 2027, $ 70 million in 2028, and $ 8 million thereafter. A portion of these future costs will be borne by other interest owners. The Company is not committed under the above contracts to deliver fixed and determinable quantities of crude oil or natural gas in the future. These commitments do not qualify as leases under ASC Topic 842 and are not recognized on the Company's balance sheet. Litigation pertaining to 2022 take-private transaction In April 2023, three separate putative class action lawsuits were consolidated under the caption In re Continental Resources, Inc. Shareholder Litigation , Case No. CJ-2022-4162, in the District Court of Oklahoma County, Oklahoma (the “Consolidated Action”). In the Consolidated Action, the plaintiffs, on behalf of themselves and all other similarly situated former shareholders of the Company, allege that Mr. Hamm, certain trusts established for the benefit of Mr. Hamm and/or his family members, and the Company’s other directors breached their fiduciary duties in connection with the take-private transaction and seek: (i) monetary damages; (ii) the costs and expenses associated with the lawsuits; and (iii) other equitable relief. The defendants continue to vigorously defend themselves against these claims. In January 2023, FourWorld Deep Value Opportunities Fund I, LLC, FourWorld Event Opportunities, LP, FW Deep Value Opportunities I, LLC, FourWorld Global Opportunities Fund, Ltd., FourWorld Special Opportunities Fund, LLC, Corbin ERISA Opportunity Fund Ltd., and Quadre Investments, L.P. (collectively, “FourWorld”), all former shareholders of the Company, filed a petition in the District Court of Oklahoma County, Oklahoma, seeking appraisal of their respective shares of the Company’s common stock in connection with the take-private transaction. In April 2024, Quadre Investments, L.P. filed a voluntary dismissal with prejudice. The Company continues to vigorously defend itself against these claims.

Long-Term Incentive Compensatio

Long-Term Incentive Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Long-Term Incentive Compensation	Note 9. Long-Term Incentive Compensation The Company has granted incentive compensation awards to employees pursuant to the Continental Resources, Inc. 2022 Long-Term Incentive Plan. Awards granted prior to 2024 generally vest after three years of employee service. Awards granted in 2024 and thereafter generally vest annually, in one-third increments, over three years of employee service. The Company intends to settle all outstanding incentive awards vesting in the future in cash and, thus, the awards are classified as liability awards pursuant to ASC Topic 718, Compensation—Stock Compensation. At September 30, 2024, the Company had recorded a current liability of $ 66.5 million and a non-current liability of $ 30.7 million in the captions “Current portion of incentive compensation liability” and “Incentive compensation liability, noncurrent,” respectively, in the condensed consolidated balance sheets associated with the awards. Such amounts reflect the Company’s estimate of expected future cash payments multiplied by the percentage of requisite service periods that employees have completed as of September 30, 2024. The Company’s compensation expense associated with such awards totaled $ 15.9 million and $ 61.4 million for the three months ended September 30, 2024 and 2023, respectively, and $ 69.2 million and $ 86.9 million for the nine months ended September 30, 2024 and 2023, respectively, which is included in the caption “General and administrative expenses” in the condensed consolidated statements of income. As of September 30, 2024 , there was approximately $ 92.0 million of unrecognized liabilities and compensation expense related to unvested awards, which are expected to be recognized over a weighted average period of 1.3 years. The Company’s incentive compensation liability will be remeasured each reporting period leading up to the applicable award vesting dates to reflect additional service rendered by employees and to reflect changes in expected cash payments arising from underlying changes in the value of the Company based on independent third party appraisals. Changes in the liability will be recorded as increases or decreases to compensation expense. The Company has estimated the number of forfeitures expected to occur in determining the amount of liability and expense to recognize.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Description of the Company	Nature of Business Continental Resources, Inc. (the “Company”) was formed in 1967 and is incorporated under the laws of the State of Oklahoma. The Company’s principal business is the exploration, development, management, and production of crude oil and natural gas and associated products with properties primarily located in four leading basins in the United States – the Bakken field of North Dakota and Montana, the Anadarko Basin of Oklahoma, the Permian Basin of Texas, and the Powder River Basin of Wyoming. Additionally, the Company pursues the acquisition and management of perpetually owned minerals located in certain of its key operating areas. For the nine months ended September 30, 2024, crude oil accounted for 54 % of the Company’s total production and 88 % of its crude oil, natural gas, and natural gas liquids revenues.
Voluntary Filer	Voluntary Filer The Company is privately owned by its founder, Harold G. Hamm, certain members of his family and their affiliated entities (the “Hamm Family”). As of September 30, 2024 , the Hamm Family holds approximately 299.6 million shares of common stock of the Company. As a privately held company, certain of the corporate governance, disclosure, and other provisions applicable to a company with listed equity securities and reporting obligations under the Securities Exchange Act of 1934 do not apply to us. We continue to furnish Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K with the SEC as required by our senior note indentures.
Basis of Presentation	Basis of presentation The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities in which the Company has a controlling financial interest. Intercompany accounts and transactions have been eliminated upon consolidation. Noncontrolling interests reflected herein represent third party ownership in the net assets of consolidated subsidiaries. The portions of consolidated net income and equity attributable to the noncontrolling interests are presented separately in the Company’s financial statements. Investments in entities in which the Company has the ability to exercise significant influence, but does not control, are accounted for using the equity method of accounting. In applying the equity method, the investments are initially recognized at cost and are subsequently adjusted for the Company's proportionate share of earnings, losses, contributions, and distributions, as applicable. This report has been prepared pursuant to rules and regulations applicable to interim financial information. Because this is an interim period filing presented using a condensed format, it does not include all disclosures required by accounting principles generally accepted in the United States (“U.S. GAAP”), although the Company believes the disclosures are adequate to make the information not misleading. You should read this Quarterly Report on Form 10-Q (“Form 10-Q”) together with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”), which includes a summary of the Company’s significant accounting policies and other disclosures. The condensed consolidated financial statements as of September 30, 2024 and for the three and nine month periods ended September 30, 2024 and 2023 are unaudited. The condensed consolidated balance sheet as of December 31, 2023 was derived from the audited balance sheet included in the 2023 Form 10-K. The Company evaluated its September 30, 2024 financial statements for subsequent events through November 12, 2024, the date the financial statements were available to be issued. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure and estimation of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. The most significant estimates and assumptions impacting reported results are estimates of the Company’s crude oil and natural gas reserves, which are used to compute depreciation, depletion, amortization and impairment of proved crude oil and natural gas properties. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation in accordance with U.S. GAAP have been included in these unaudited condensed consolidated financial statements. The results of operations for any interim period are not necessarily indicative of the results of operations that may be expected for any other interim period or for an entire year.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Summary of Supplemental Cash Flow Information	The following table discloses supplemental cash flow information about cash paid for interest and income tax payments and refunds. Also disclosed is information about investing activities that affects recognized assets and liabilities but does not result in cash receipts or payments. Nine months ended September 30, In thousands 2024 2023 Supplemental cash flow information: Cash paid for interest $ 227,609 $ 303,011 Cash paid for income taxes (1) 614,401 456,253 Cash received for income tax refunds 3,266 2 Non-cash investing activities: Asset retirement obligation additions and revisions, net 15,785 9,057 (1) Amounts represent estimated quarterly payments for U.S. federal and state income taxes based on estimates of taxable income for the year.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents the disaggregation of the Company's crude oil and natural gas revenues by operating area for the three and nine months ended September 30, 2024 and 2023. Sales of natural gas and NGLs are combined, as a substantial majority of the Company's natural gas sales contracts represent wellhead sales of unprocessed gas. Three months ended September 30, 2024 Three months ended September 30, 2023 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 835,950 $ 51,336 $ 887,286 $ 1,089,502 $ 79,952 $ 1,169,454 Anadarko Basin 213,883 112,981 326,864 288,993 168,442 457,435 Powder River Basin 92,570 8,429 100,999 106,407 9,333 115,740 Permian Basin 349,384 11,537 360,921 269,787 23,960 293,747 All other 35,838 24 35,862 45,921 34 45,955 Crude oil, natural gas, and natural gas liquids sales $ 1,527,625 $ 184,307 $ 1,711,932 $ 1,800,610 $ 281,721 $ 2,082,331 Nine months ended September 30, 2024 Nine months ended September 30, 2023 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 2,634,637 $ 192,682 $ 2,827,319 $ 2,732,748 $ 292,621 $ 3,025,369 Anadarko Basin 729,908 386,280 1,116,188 754,983 527,240 1,282,223 Powder River Basin 315,112 30,864 345,976 302,577 31,437 334,014 Permian Basin 1,073,837 42,798 1,116,635 826,361 59,666 886,027 All other 117,371 74 117,445 135,903 136 136,039 Crude oil, natural gas, and natural gas liquids sales $ 4,870,865 $ 652,698 $ 5,523,563 $ 4,752,572 $ 911,100 $ 5,663,672

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Summary of Outstanding Contracts with Respect to Natural Gas	At September 30, 2024 the Company had outstanding derivative contracts as set forth in the tables below. Natural gas derivatives Period and Type of Contract Average Volumes Hedged Weighted Average Hedge Price ($/MMBtu) October 2024 - December 2024 Swaps - Henry Hub 697,000 MMBtus/day $ 3.38 January 2025 - December 2025 Swaps - Henry Hub 602,000 MMBtus/day $ 3.90 January 2026 - December 2026 . Swaps - Henry Hub 635,000 MMBtus/day $ 4.11 January 2027 - December 2027 Swaps - Henry Hub 613,000 MMBtus/day $ 3.92 Crude oil derivatives Weighted Average Period and Type of Contract Average Volumes Hedged Roll Swaps Fixed Swaps October 2024 - December 2024 Roll Swaps - NYMEX 60,000 Bbls/day $ 0.73 Fixed Swaps - WTI 83,000 Bbls/day $ 77.55 January 2025 - February 2025 Fixed Swaps - WTI 24,000 Bbls/day $ 80.25
Realized and Unrealized Gains and Losses on Derivative Instruments	Three months ended September 30, Nine months ended September 30, In thousands 2024 2023 2024 2023 Cash received (paid) on derivatives: Crude oil fixed price swaps $ 18,258 $ ( 24,416 ) $ 3,410 $ 15,335 Crude oil NYMEX roll swaps ( 1,957 ) 976 76 3,542 Natural gas basis swaps — 960 — 2,942 Natural gas WAHA swaps 13,262 3,384 40,184 12,747 Natural gas fixed price swaps 74,480 53,110 226,958 146,737 Natural gas collars — — 16,069 24,380 Natural gas 3-way collars — — — 3,741 Cash received on derivatives, net 104,043 34,014 286,697 209,424 Non-cash gain (loss) on derivatives: Crude oil fixed price swaps 113,723 ( 344,555 ) ( 53,757 ) ( 191,926 ) Crude oil NYMEX roll swaps 1,851 ( 7,006 ) ( 6,825 ) ( 7,723 ) Natural gas basis swaps — ( 806 ) — ( 7,407 ) Natural gas WAHA swaps ( 8,348 ) 3,193 ( 21,523 ) ( 7,566 ) Natural gas fixed price swaps 58,732 ( 24,707 ) ( 31,133 ) 241,284 Natural gas collars — 4,756 ( 11,923 ) 35,307 Natural gas 3-way collars — — — ( 598 ) Non-cash gain (loss) on derivatives, net 165,958 ( 369,125 ) ( 125,161 ) 61,371 Gain (loss) on derivative instruments, net $ 270,001 $ ( 335,111 ) $ 161,536 $ 270,795
Gross Amounts of Recognized Derivative Assets and Liabilities	The following table presents the gross amounts of recognized derivative assets and liabilities, as applicable, the amounts offset under netting arrangements with counterparties, and the resulting net amounts presented in the condensed consolidated balance sheets for the periods presented, all at fair value. In thousands September 30, 2024 December 31, 2023 Commodity derivative assets: Gross amounts of recognized assets $ 385,901 $ 510,375 Gross amounts offset on balance sheet ( 3,133 ) ( 1,862 ) Net amounts of assets on balance sheet 382,768 508,513 Commodity derivative liabilities: Gross amounts of recognized liabilities ( 3,135 ) ( 2,448 ) Gross amounts offset on balance sheet 3,133 1,862 Net amounts of liabilities on balance sheet $ ( 2 ) $ ( 586 )
Derivatives Not Designated as Hedging Instruments	The following table reconciles the net amounts disclosed above to the individual financial statement line items in the condensed consolidated balance sheets. In thousands September 30, 2024 December 31, 2023 Derivative assets $ 215,069 $ 353,261 Derivative assets, noncurrent 167,699 155,252 Net amounts of assets on balance sheet 382,768 508,513 Derivative liabilities ( 2 ) — Derivative liabilities, noncurrent — ( 586 ) Net amounts of liabilities on balance sheet ( 2 ) ( 586 ) Total derivative assets (liabilities), net $ 382,766 $ 507,927

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Valuation of Financial Instruments by Pricing Levels	The following tables summarize the valuation of derivative instruments by pricing levels that were accounted for at fair value on a recurring basis as of September 30, 2024 and December 31, 2023. Fair value measurements at September 30, 2024 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 92,488 $ — $ 92,488 Crude oil NYMEX roll swaps — 62 — 62 Natural gas WAHA swaps — — — — Natural gas fixed price swaps — 290,216 — 290,216 Natural gas collars — — — — Total $ — $ 382,766 $ — $ 382,766 Fair value measurements at December 31, 2023 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 146,243 $ — $ 146,243 Crude oil NYMEX roll swaps — 6,888 — 6,888 Natural gas WAHA swaps — 21,523 — 21,523 Natural gas fixed price swaps — 321,350 — 321,350 Natural gas collars — 11,923 — 11,923 Total $ — $ 507,927 $ — $ 507,927

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	The Company's debt, net of unamortized discounts, premiums, and debt issuance costs totaling $ 35.2 million and $ 41.7 million at September 30, 2024 and December 31, 2023, respectively, consists of the following. In thousands September 30, 2024 December 31, 2023 Credit facility $ 185,000 $ 210,000 Term Loan — 748,092 Notes payable 15,789 17,642 3.8 % Senior Notes due 2024 — 892,610 2.268 % Senior Notes due 2026 796,674 795,541 4.375 % Senior Notes due 2028 995,303 994,327 5.75 % Senior Notes due 2031 1,486,737 1,485,460 2.875 % Senior Notes due 2032 793,546 792,977 4.9 % Senior Notes due 2044 692,626 692,463 Total debt $ 4,965,675 $ 6,629,112 Less: Current portion of long-term debt 2,564 895,105 Long-term debt, net of current portion $ 4,963,111 $ 5,734,007
Summary of Maturity Dates, Semi-Annual Interest Payment Dates, and Optional Redemption Periods of Outstanding Senior Note Obligations	The following table summarizes the face values, maturity dates, semi-annual interest payment dates, and optional redemption periods related to the Company’s outstanding senior note obligations at September 30, 2024. 2026 Notes 2028 Notes 2031 Notes 2032 Notes 2044 Notes Face value (in thousands) $ 800,000 $ 1,000,000 $ 1,500,000 $ 800,000 $ 700,000 Maturity date November 15, 2026 January 15, 2028 January 15, 2031 April 1, 2032 June 1, 2044 Interest payment dates May 15, Nov 15 Jan 15, July 15 Jan 15, July 15 April 1, Oct 1 June 1, Dec 1 Make-whole redemption period (1) Nov 15, 2023 Oct 15, 2027 July 15, 2030 January 1, 2032 Dec 1, 2043 (1) At any time prior to the indicated dates, the Company has the option to redeem all or a portion of its senior notes of the applicable series at the “make-whole” redemption amounts specified in the respective senior note indentures plus any accrued and unpaid interest to the date of redemption. On or after the indicated dates, the Company may redeem all or a portion of its senior notes at a redemption amount equal to 100 % of the principal amount of the senior notes being redeemed plus any accrued and unpaid interest to the date of redemption.

Organization and Nature of Bu_2

Organization and Nature of Business - Additional Information (Detail) shares in Millions	9 Months Ended
	Sep. 30, 2024 shares
Results of Operations for Oil and Gas Producing Activities, by Geographic Area [Line Items]
Percentage of crude oil and natural gas production concentrated in crude oil	54%
Percentage of crude oil and natural gas revenue concentrated in crude oil	88%
Omega Acquisition, Inc.[Member] | Hamm Family [Member]
Results of Operations for Oil and Gas Producing Activities, by Geographic Area [Line Items]
Number of shares held in common stock	299.6

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest		$ 227,609	$ 303,011
Cash paid for income taxes	[1]	614,401	456,253
Cash received for income tax refunds		3,266	2
Non-cash investing activities:
Asset retirement obligation additions and revisions, net		$ 15,785	$ 9,057
[1] Amounts represent estimated quarterly payments for U.S. federal and state income taxes based on estimates of taxable income for the year.

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Accrued capital expenditures	$ 386.2	$ 367.2

Revenues Disaggregation of Reve

Revenues Disaggregation of Revenue (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]
Crude oil, natural gas, and natural gas liquids sales	$ 1,711,932	$ 2,082,331	$ 5,523,563	$ 5,663,672
Bakken
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	887,286	1,169,454	2,827,319	3,025,369
Anadarko Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	326,864	457,435	1,116,188	1,282,223
Powder River Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	100,999	115,740	345,976	334,014
Permian Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	360,921	293,747	1,116,635	886,027
All Other
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	35,862	45,955	117,445	136,039
Crude Oil Sales
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	1,527,625	1,800,610	4,870,865	4,752,572
Crude Oil Sales | Bakken
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	835,950	1,089,502	2,634,637	2,732,748
Crude Oil Sales | Anadarko Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	213,883	288,993	729,908	754,983
Crude Oil Sales | Powder River Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	92,570	106,407	315,112	302,577
Crude Oil Sales | Permian Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	349,384	269,787	1,073,837	826,361
Crude Oil Sales | All Other
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	35,838	45,921	117,371	135,903
Natural gas sales
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	184,307	281,721	652,698	911,100
Natural gas sales | Bakken
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	51,336	79,952	192,682	292,621
Natural gas sales | Anadarko Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	112,981	168,442	386,280	527,240
Natural gas sales | Powder River Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	8,429	9,333	30,864	31,437
Natural gas sales | Permian Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	11,537	23,960	42,798	59,666
Natural gas sales | All Other
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	$ 24	$ 34	$ 74	$ 136

Derivative Instruments - Summar

Derivative Instruments - Summary of Outstanding Contracts with Respect to Natural Gas and Crude Oil (Detail)	9 Months Ended
	Sep. 30, 2024 MMBTU $ / bbl $ / MMBTU bbl
October 2024 to December 2024 Swaps | Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus | MMBTU	697,000
Swaps Weighted Average Price | $ / MMBTU	3.38
Jan 2025 to Dec 2025 Swaps | Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus | MMBTU	602,000
Swaps Weighted Average Price | $ / MMBTU	3.9
Jan 2026 to Dec 2026 Swaps | Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus | MMBTU	635,000
Swaps Weighted Average Price | $ / MMBTU	4.11
Jan 27 to Dec 27 Swaps | Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus | MMBTU	613,000
Swaps Weighted Average Price | $ / MMBTU	3.92
October 2024 To December 2024 Nymex Roll Swaps | Crude Oil [Member]
Derivative [Line Items]
Swaps Weighted Average Price | $ / bbl	0.73
Crude oil production volume hedged | bbl	60,000
October 2024 To December 2024 Fixed Swaps Wti | Crude Oil [Member]
Derivative [Line Items]
Swaps Weighted Average Price | $ / bbl	77.55
Crude oil production volume hedged | bbl	83,000
January 2025 To February 2025 WTI Fixed Swaps | Crude Oil [Member]
Derivative [Line Items]
Swaps Weighted Average Price | $ / bbl	80.25
Crude oil production volume hedged | bbl	24,000

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gains and Losses on Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net			$ (125,161)	$ 61,371
Gain (loss) on derivative instruments, net	$ 270,001	$ (335,111)	161,536	270,795
Swap [Member] | Crude Oil [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	18,258	(24,416)	3,410	15,335
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	113,723	(344,555)	(53,757)	(191,926)
Swap [Member] | Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	74,480	53,110	226,958	146,737
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	58,732	(24,707)	(31,133)	241,284
NYMEX roll swaps | Crude Oil [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	(1,957)	976	76	3,542
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	1,851	(7,006)	(6,825)	(7,723)
Basis swaps | Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	0	960	0	2,942
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	0	(806)	0	(7,407)
WAHA Swaps | Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	13,262	3,384	40,184	12,747
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	(8,348)	3,193	(21,523)	(7,566)
Collars [Member] | Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	0	0	16,069	24,380
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	0	4,756	(11,923)	35,307
Three way collar | Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	0	0	0	3,741
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	0	0	0	(598)
Crude Oil and Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received on derivatives, net	104,043	34,014	286,697	209,424
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	165,958	(369,125)	(125,161)	61,371
Gain (loss) on derivative instruments, net	$ 270,001	$ (335,111)	$ 161,536	$ 270,795

Derivative Instruments - Gross

Derivative Instruments - Gross Amounts of Recognized Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross amounts of recognized assets	$ 385,901	$ 510,375
Gross amounts offset on balance sheet	(3,133)	(1,862)
Net amounts of assets on balance sheet	382,768	508,513
Gross amounts of recognized liabilities	(3,135)	(2,448)
Gross amounts offset on balance sheet	3,133	1,862
Net amounts of liabilities on balance sheet	$ (2)	$ (586)

Derivative Instruments - Reconc

Derivative Instruments - Reconciles Net Amounts Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets	$ 215,069	$ 353,261
Noncurrent derivative assets	167,699	155,252
Net amounts of assets on balance sheet	382,768	508,513
Derivative liabilities	(2)	0
Derivative liabilities, noncurrent	0	(586)
Net amounts of liabilities on balance sheet	(2)	(586)
Total derivative assets (liabilities), net	$ 382,766	$ 507,927

Fair Value Measurements - Valua

Fair Value Measurements - Valuation of Financial Instruments by Pricing Levels (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative assets (liabilities):
Derivative assets (liabilities)	$ 382,766	$ 507,927
Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	92,488	146,243
Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	290,216	321,350
Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	11,923
Crude oil NYMEX roll swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	62	6,888
Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	21,523
Fair Value, Inputs, Level 1 [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] | Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] | Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] | Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] | Crude oil NYMEX roll swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] | Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 2 [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	382,766	507,927
Fair Value, Inputs, Level 2 [Member] | Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	92,488	146,243
Fair Value, Inputs, Level 2 [Member] | Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	290,216	321,350
Fair Value, Inputs, Level 2 [Member] | Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	11,923
Fair Value, Inputs, Level 2 [Member] | Crude oil NYMEX roll swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	62	6,888
Fair Value, Inputs, Level 2 [Member] | Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	21,523
Fair Value, Inputs, Level 3 [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] | Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] | Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] | Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] | Crude oil NYMEX roll swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] | Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent liabilities	$ 387,791	$ 36,346
Estate taxes and interest payment period	14 years
Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent liabilities	$ 342,000
Hamm Family [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of common stock owned	52%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 29, 2024	Jun. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net					$ 35,200	$ 41,700
Aggregate amount of lender commitments on credit facility					$ 2,255,000
Redemption percentage					100%
Line of credit facility, commitment fee percentage, per annum					0.20%
Line of Credit Facility, Covenant Terms					0.65
Subsequent Event
Debt Instrument [Line Items]
Aggregate amount of lender commitments on credit facility	$ 1,800,000
Maturity date	Oct. 31, 2029
Term Loan
Debt Instrument [Line Items]
Term Loan							$ 750,000
Repayment of remaining term loan			$ 650,000	$ 100,000
2024 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		$ 893,100	893,100
Redemption percentage		100%
Redemption amount		$ 910,100	$ 910,100
Carrying Amount
Debt Instrument [Line Items]
Line of credit facility, amount outstanding					$ 185,000	210,000
Debt, weighted average interest rate					6.70%
Term Loan					$ 0	$ 748,092

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less: Current portion of long-term debt	$ 2,564	$ 895,105
Long-term debt, net of current portion	$ 4,963,111	5,734,007
3.8% Senior Notes due 2024
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	3.80%
Debt Instrument, Maturity Date, Description	2024
2.268% Senior Notes due 2026
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	2.268%
Debt Instrument, Maturity Date, Description	2026
4.375% Senior Notes due 2028
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	4.375%
Debt Instrument, Maturity Date, Description	2028
5.75% Senior Notes due 2031
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	5.75%
Debt Instrument, Maturity Date, Description	2031
2.875% Senior Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	2.875%
Debt Instrument, Maturity Date, Description	2032
4.9% Senior Notes due 2044
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	4.90%
Debt Instrument, Maturity Date, Description	2044
Carrying Amount
Debt Instrument [Line Items]
Credit facility	$ 185,000	210,000
Term Loan	0	748,092
Notes payable	15,789	17,642
Total debt	4,965,675	6,629,112
Carrying Amount | 3.8% Senior Notes due 2024
Debt Instrument [Line Items]
Senior notes	0	892,610
Carrying Amount | 2.268% Senior Notes due 2026
Debt Instrument [Line Items]
Senior notes	796,674	795,541
Carrying Amount | 4.375% Senior Notes due 2028
Debt Instrument [Line Items]
Senior notes	995,303	994,327
Carrying Amount | 5.75% Senior Notes due 2031
Debt Instrument [Line Items]
Senior notes	1,486,737	1,485,460
Carrying Amount | 2.875% Senior Notes due 2032
Debt Instrument [Line Items]
Senior notes	793,546	792,977
Carrying Amount | 4.9% Senior Notes due 2044
Debt Instrument [Line Items]
Senior notes	$ 692,626	$ 692,463

Debt - Summary of Maturity Date

Debt - Summary of Maturity Dates, Semi-Annual Interest Payment Dates, and Optional Redemption Periods of Outstanding Senior Note Obligations (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
2026 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 800,000
Debt Instrument, Maturity Date	Nov. 15, 2026
Interest payment dates	May 15, Nov 15
Debt Instrument, Redemption Period, Start Date	Nov. 15, 2023	[1]
2028 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000
Debt Instrument, Maturity Date	Jan. 15, 2028
Interest payment dates	Jan 15, July 15
Debt Instrument, Redemption Period, Start Date	Oct. 15, 2027	[1]
Senior Notes due 2031
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500,000
Debt Instrument, Maturity Date	Jan. 15, 2031
Interest payment dates	Jan 15, July 15
Debt Instrument, Redemption Period, Start Date	Jul. 15, 2030	[1]
Senior Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 800,000
Debt Instrument, Maturity Date	Apr. 01, 2032
Interest payment dates	April 1, Oct 1
Debt Instrument, Redemption Period, Start Date	Jan. 01, 2032	[1]
2044 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 700,000
Debt Instrument, Maturity Date	Jun. 01, 2044
Interest payment dates	June 1, Dec 1
Debt Instrument, Redemption Period, Start Date	Dec. 01, 2043	[1]
[1] At any time prior to the indicated dates, the Company has the option to redeem all or a portion of its senior notes of the applicable series at the “make-whole” redemption amounts specified in the respective senior note indentures plus any accrued and unpaid interest to the date of redemption. On or after the indicated dates, the Company may redeem all or a portion of its senior notes at a redemption amount equal to 100 % of the principal amount of the senior notes being redeemed plus any accrued and unpaid interest to the date of redemption.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Long-term Purchase Commitment [Line Items]
Purchase Obligation Agreement Expiration Date	2031
Purchase Obligation	$ 868
Purchase Obligation, Due in Next Twelve Months	88
Purchase Obligation, Due in Second Year	281
Purchase Obligation, Due in Third Year	218
Purchase Obligation, Due in Fourth Year	203
Purchase Obligation, Due in Fifth Year	70
Purchase Obligation, Due after Fifth Year	$ 8

Long-Term Incentive Compensat_2

Long-Term Incentive Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 15.9	$ 61.4	$ 69.2	$ 86.9
Unrecognized liabilities and compensation expense related to unvested awards	92		$ 92
Unrecognized compensation expense related to non-vested, period for recognition, in years			1 year 3 months 18 days
Awards Granted prior to 2024 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting description			Awards granted prior to 2024 generally vest after three years of employee service.
Awards Granted in 2024 and Thereafter [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting description			Awards granted in 2024 and thereafter generally vest annually, in one-third increments, over three years of employee service.
Current Portion of Incentive Compensation Liability [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability related settlement of awards	66.5		$ 66.5
Incentive Compensation Liability, Net of Current Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability related settlement of awards	$ 30.7		$ 30.7