SM Energy (SM) 10-Q 1 Nov 24 2024 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-31539
Entity Registrant Name	SM ENERGY CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0518430
Entity Address, Address Line One	1700 Lincoln Street
Entity Address, Address Line Two	Suite 3200
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80203
City Area Code	(303)
Local Phone Number	861-8140
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	SM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		114,418,413
Entity Central Index Key	0000893538
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share data) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,735,313	$ 616,164
Accounts receivable	226,604	231,165
Derivative assets	72,287	56,442
Prepaid expenses and other	10,224	12,668
Total current assets	2,044,428	916,439
Property and equipment (successful efforts method):
Proved oil and gas properties	12,501,494	11,477,358
Accumulated depletion, depreciation, and amortization	(7,370,881)	(6,830,253)
Unproved oil and gas properties, net of valuation allowance of $33,095 and $35,362, respectively	287,311	335,620
Wells in progress	291,197	358,080
Other property and equipment, net of accumulated depreciation of $62,435 and $59,669, respectively	45,149	35,615
Total property and equipment, net	5,754,270	5,376,420
Noncurrent assets:
Acquisition deposit held in escrow	102,000	0
Derivative assets	11,584	8,672
Other noncurrent assets	115,490	78,454
Total noncurrent assets	229,074	87,126
Total assets	8,027,772	6,379,985
Current liabilities:
Accounts payable and accrued expenses	560,839	611,598
Derivative liabilities	2,401	6,789
Other current liabilities	17,859	15,425
Total current liabilities	581,099	633,812
Noncurrent liabilities:
Revolving credit facility	0	0
Senior Notes, net	2,706,700	1,575,334
Asset retirement obligations	125,327	118,774
Net deferred tax liabilities	467,459	369,903
Derivative liabilities	448	1,273
Other noncurrent liabilities	85,193	65,039
Total noncurrent liabilities	3,385,127	2,130,323
Commitments and contingencies (note 6)
Stockholders’ equity:
Common stock, $0.01 par value - authorized: 200,000,000 shares; issued and outstanding: 114,418,413 and 115,745,393 shares, respectively	1,144	1,157
Additional paid-in capital	1,492,778	1,565,021
Retained earnings	2,570,108	2,052,279
Accumulated other comprehensive loss	(2,484)	(2,607)
Total stockholders’ equity	4,061,546	3,615,850
Total liabilities and stockholders’ equity	$ 8,027,772	$ 6,379,985

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (PARENTHETICAL) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Unproved oil and gas properties, valuation allowance	$ 33,095	$ 35,362
Other property and equipment, accumulated depreciation	$ 62,435	$ 59,669
Common Stock, Par Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	114,418,413	115,745,393
Common Stock, Shares Outstanding	114,418,413	115,745,393

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share data) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues and other income:
Oil, gas, and NGL production revenue	$ 642,380	$ 639,699	$ 1,835,427	$ 1,757,032
Other operating income, net	1,233	1,202	2,611	8,128
Total operating revenues and other income	643,613	640,901	1,838,038	1,765,160
Operating expenses:
Oil, gas, and NGL production expense	148,380	138,264	422,377	426,200
Depletion, depreciation, amortization, and asset retirement obligation liability accretion	202,942	189,353	548,781	501,374
Exploration	12,097	10,245	47,772	43,633
General and administrative	35,141	29,255	96,431	84,424
Net derivative (gain) loss	(86,283)	75,355	(70,256)	12,352
Other operating expense, net	384	2,832	4,206	20,182
Total operating expenses	312,661	445,304	1,049,311	1,088,165
Income from operations	330,952	195,597	788,727	676,995
Interest expense	(50,682)	(23,106)	(94,362)	(67,713)
Interest income	18,017	4,106	31,120	13,802
Other non-operating expense	(637)	(233)	(684)	(696)
Income before income taxes	297,650	176,364	724,801	622,388
Income tax (expense) benefit	(57,127)	45,979	(142,786)	(51,619)
Net income	$ 240,523	$ 222,343	$ 582,015	$ 570,769
Basic weighted-average common shares outstanding	114,405	117,823	114,870	119,589
Diluted weighted-average common shares outstanding	114,993	118,328	115,701	120,165
Basic net income per common share	$ 2.10	$ 1.89	$ 5.07	$ 4.77
Diluted net income per common share	2.09	1.88	5.03	4.75
Net dividends declared per common share	$ 0.20	$ 0.15	$ 0.56	$ 0.45

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (in thousands) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 240,523	$ 222,343	$ 582,015	$ 570,769
Other comprehensive income, net of tax:
Pension liability adjustment	108	14	123	40
Total other comprehensive income, net of tax	108	14	123	40
Total comprehensive income	$ 240,631	$ 222,357	$ 582,138	$ 570,809

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) (in thousands, except share data and dividends per share) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Net dividends declared per common share	$ 0.15
Balances, Common Stock, Shares Outstanding, Beginning at Dec. 31, 2022		121,931,676
Balances, Total Stockholders' Equity, Beginning at Dec. 31, 2022	$ 3,085,458	$ 1,219	$ 1,779,703	$ 1,308,558	$ (4,022)
Increase (Decrease) in Stockholders' Equity
Net income	198,552			198,552
Other comprehensive income	13				13
Net cash dividends declared	(18,078)			(18,078)
Stock-based compensation expense (Amount)	4,318		4,318
Stock Repurchased and Retired During Period (Shares)		(1,413,758)
Stock Repurchased and Retired During Period (Value)	40,468	$ 14	40,454
Balances, Common Stock, Shares Outstanding, Ending at Mar. 31, 2023		120,517,918
Balances, Total Stockholders' Equity, Ending at Mar. 31, 2023	$ 3,229,795	$ 1,205	1,743,567	1,489,032	(4,009)
Net dividends declared per common share	$ 0.45
Balances, Common Stock, Shares Outstanding, Beginning at Dec. 31, 2022		121,931,676
Balances, Total Stockholders' Equity, Beginning at Dec. 31, 2022	$ 3,085,458	$ 1,219	1,779,703	1,308,558	(4,022)
Increase (Decrease) in Stockholders' Equity
Net income	570,769
Other comprehensive income	$ 40
Stock Repurchased and Retired During Period (Shares)	(6,316,000)
Balances, Common Stock, Shares Outstanding, Ending at Sep. 30, 2023		116,313,887
Balances, Total Stockholders' Equity, Ending at Sep. 30, 2023	$ 3,404,293	$ 1,163	1,581,110	1,826,002	(3,982)
Net dividends declared per common share	$ 0.15
Balances, Common Stock, Shares Outstanding, Beginning at Mar. 31, 2023		120,517,918
Balances, Total Stockholders' Equity, Beginning at Mar. 31, 2023	$ 3,229,795	$ 1,205	1,743,567	1,489,032	(4,009)
Increase (Decrease) in Stockholders' Equity
Net income	149,874			149,874
Other comprehensive income	13				13
Net cash dividends declared	(17,704)			(17,704)
Issuance of common stock under Employee Stock Purchase Plan (Shares)		68,210
Issuance of common stock under Employee Stock Purchase Plan (Amount)	1,816	$ 1	1,815
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Shares)		774
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Amount)	(7)		(7)
Stock-based compensation expense (Shares)		56,872
Stock-based compensation expense (Amount)	4,163	$ 1	4,162
Stock Repurchased and Retired During Period (Shares)		(2,550,706)
Stock Repurchased and Retired During Period (Value)	$ 69,483	$ 26	69,457
Common Stock, Other (Shares)	19,037
Balances, Common Stock, Shares Outstanding, Ending at Jun. 30, 2023		118,112,105
Balances, Total Stockholders' Equity, Ending at Jun. 30, 2023	$ 3,298,467	$ 1,181	1,680,080	1,621,202	(3,996)
Increase (Decrease) in Stockholders' Equity
Common Stock, Other (Value)	$ 0
Net dividends declared per common share	$ 0.15
Net income	$ 222,343			222,343
Other comprehensive income	14				14
Net cash dividends declared	(17,543)			(17,543)
Issuance of common stock under Employee Stock Purchase Plan (Shares)		(18)
Issuance of common stock under Employee Stock Purchase Plan (Amount)	0
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Shares)		553,442
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Amount)	(7,875)	$ 6	(7,881)
Stock-based compensation expense (Amount)	$ 6,038		6,038
Stock Repurchased and Retired During Period (Shares)	(2,352,000)	(2,351,642)
Stock Repurchased and Retired During Period (Value)	$ 97,151	$ 24	97,127
Balances, Common Stock, Shares Outstanding, Ending at Sep. 30, 2023		116,313,887
Balances, Total Stockholders' Equity, Ending at Sep. 30, 2023	$ 3,404,293	$ 1,163	1,581,110	1,826,002	(3,982)
Net dividends declared per common share	$ 0.18
Balances, Common Stock, Shares Outstanding, Beginning at Dec. 31, 2023	115,745,393	115,745,393
Balances, Total Stockholders' Equity, Beginning at Dec. 31, 2023	$ 3,615,850	$ 1,157	1,565,021	2,052,279	(2,607)
Increase (Decrease) in Stockholders' Equity
Net income	131,199			131,199
Other comprehensive income	8				8
Net cash dividends declared	(20,707)			(20,707)
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Shares)		1,147
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Amount)	(22)		(22)
Stock-based compensation expense (Shares)		1,839
Stock-based compensation expense (Amount)	5,018		5,018
Stock Repurchased and Retired During Period (Shares)		(712,235)
Stock Repurchased and Retired During Period (Value)	33,095	$ 7	33,088
Balances, Common Stock, Shares Outstanding, Ending at Mar. 31, 2024		115,036,144
Balances, Total Stockholders' Equity, Ending at Mar. 31, 2024	$ 3,698,251	$ 1,150	1,536,929	2,162,771	(2,599)
Net dividends declared per common share	$ 0.56
Balances, Common Stock, Shares Outstanding, Beginning at Dec. 31, 2023	115,745,393	115,745,393
Balances, Total Stockholders' Equity, Beginning at Dec. 31, 2023	$ 3,615,850	$ 1,157	1,565,021	2,052,279	(2,607)
Increase (Decrease) in Stockholders' Equity
Net income	582,015
Other comprehensive income	$ 123
Stock Repurchased and Retired During Period (Shares)	(1,771,000)
Balances, Common Stock, Shares Outstanding, Ending at Sep. 30, 2024	114,418,413	114,418,413
Balances, Total Stockholders' Equity, Ending at Sep. 30, 2024	$ 4,061,546	$ 1,144	1,492,778	2,570,108	(2,484)
Net dividends declared per common share	$ 0.18
Balances, Common Stock, Shares Outstanding, Beginning at Mar. 31, 2024		115,036,144
Balances, Total Stockholders' Equity, Beginning at Mar. 31, 2024	$ 3,698,251	$ 1,150	1,536,929	2,162,771	(2,599)
Increase (Decrease) in Stockholders' Equity
Net income	210,293			210,293
Other comprehensive income	7				7
Net cash dividends declared	(20,532)			(20,532)
Issuance of common stock under Employee Stock Purchase Plan (Shares)		56,006
Issuance of common stock under Employee Stock Purchase Plan (Amount)	1,844	$ 1	1,843
Stock-based compensation expense (Shares)		35,691
Stock-based compensation expense (Amount)	5,788	$ 1	5,787
Stock Repurchased and Retired During Period (Shares)		(1,058,956)
Stock Repurchased and Retired During Period (Value)	51,711	$ 11	51,700
Balances, Common Stock, Shares Outstanding, Ending at Jun. 30, 2024		114,068,885
Balances, Total Stockholders' Equity, Ending at Jun. 30, 2024	$ 3,843,940	$ 1,141	1,492,859	2,352,532	(2,592)
Net dividends declared per common share	$ 0.20
Increase (Decrease) in Stockholders' Equity
Net income	$ 240,523			240,523
Other comprehensive income	108				108
Net cash dividends declared	(22,947)			(22,947)
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Shares)		349,528
Issuance of common stock upon vesting of RSUs and settlement of PSUs, net of shares used for tax withholdings (Amount)	(6,816)	$ 3	(6,819)
Stock-based compensation expense (Amount)	$ 6,587		6,587
Stock Repurchased and Retired During Period (Shares)	0
Stock Repurchased and Retired During Period (Value)	$ 151		151
Balances, Common Stock, Shares Outstanding, Ending at Sep. 30, 2024	114,418,413	114,418,413
Balances, Total Stockholders' Equity, Ending at Sep. 30, 2024	$ 4,061,546	$ 1,144	$ 1,492,778	$ 2,570,108	$ (2,484)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2024		Sep. 30, 2023	Sep. 30, 2024		Sep. 30, 2023
Cash flows from operating activities:
Net income		$ 240,523		$ 222,343	$ 582,015		$ 570,769
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion, depreciation, amortization, and asset retirement obligation liability accretion		202,942		189,353	548,781		501,374
Stock-based compensation expense					17,393		14,519
Net derivative (gain) loss		(86,283)		75,355	(70,256)		12,352
Net derivative settlement gain					46,288		20,398
Amortization of deferred financing costs					4,925		4,114
Deferred income taxes		45,615		(51,075)	116,522		43,171
Other, net					(25,590)		(11,489)
Net change in working capital					(15,433)		(57,329)
Net cash provided by operating activities					1,204,645		1,097,879
Cash flows from investing activities:
Capital expenditures					(957,156)		(766,756)
Acquisition of proved and unproved oil and gas properties					(836)		(109,318)
Other, net					80		657
Net cash used in investing activities					(957,912)		(875,417)
Cash flows from financing activities:
Debt issuance costs related to credit facility					(2,378)		0
Net proceeds from Senior Notes					1,477,032		0
Cash paid to repurchase Senior Notes					349,118		0
Repurchase of common stock					(83,991)		(205,246)
Dividends paid					(62,136)		(54,167)
Net proceeds from sale of common stock					1,844		1,815
Net share settlement from issuance of stock awards					(6,837)		(7,882)
Net cash provided by (used in) financing activities					974,416		(265,480)
Net change in cash, cash equivalents, and restricted cash					1,221,149		(43,018)
Cash, cash equivalents, and restricted cash at beginning of period					616,164		444,998
Cash, cash equivalents, and restricted cash at end of period		1,837,313		401,980	1,837,313		401,980
Supplemental Cash Flow Information - Operating activities:
Cash paid for interest, net of capitalized interest					(83,130)	[1]	(77,514)
Net cash paid for income taxes					(7,623)		(6,176)
Debt Related Commitment Fees and Debt Issuance Costs					9,000
Supplemental Cash Flow Information - Investing activities:
Changes in capital expenditure accruals					(33,187)		35,683
Supplemental Cash Flow Information - Non-cash Financing Activities
Non-cash financing activities (2)	[2]
Cash and cash equivalents		1,735,313		401,980	1,735,313		401,980
Restricted cash (2)		102,000	[3]	0	102,000	[3]	0
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		$ 1,837,313		$ 401,980	$ 1,837,313		$ 401,980
[1] Cash paid for interest, net of capitalized interest during the nine months ended September 30, 2024, does not include $9.0 million in fees paid to secure firm commitments for senior unsecured bridge term loans in connection with the Uinta Basin Acquisition discussed and defined in Note 11 - Acquisitions . Please refer to Note 5 - Long-Term Debt for discussion of the debt transactions executed during the nine months ended September 30, 2024. Represents a deposit held in a third-party escrow account related to the Uinta Basin Acquisition, as defined in Note 11 - Acquisitions, and is included in the acquisition deposit held in escrow line item on the accompanying unaudited condensed consolidated balance sheets (“accompanying balance sheets”). Please refer to Note 11 - Acquisitions for additional discussion.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 - Summary of Significant Accounting Policies Description of Operations SM Energy Company, together with its consolidated subsidiaries (“SM Energy” or the “Company”), is an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas, and NGLs in the state of Texas, and following the closing of the Uinta Basin Acquisition on October 1, 2024, in the state of Utah. Please refer to Note 11 - Acquisitions for discussion and the definition of the Uinta Basin Acquisition. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, the instructions to Quarterly Report on Form 10-Q, and Regulation S-X. These financial statements do not include all information and notes required by GAAP for annual financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the 2023 Form 10-K . In the opinion of management, all adjustments, consisting of normal recurring adjustments considered necessary for a fair presentation of interim financial information, have been included. Operating results for the periods presented are not necessarily indicative of expected results for the full year. In connection with the preparation of the Company’s unaudited condensed consolidated financial statements, the Company evaluated events subsequent to the balance sheet date of September 30, 2024, and through the filing of this report. Additionally, certain prior period amounts have been reclassified to conform to current period presentation in the accompanying unaudited condensed consolidated financial statements. Significant Accounting Policies The significant accounting policies followed by the Company are set forth in Note 1 - Summary of Significant Accounting Policies in the 2023 Form 10-K and are supplemented by the notes to the unaudited condensed consolidated financial statements included in this report. These unaudited condensed consolidated financial statements should be read in conjunction with the 2023 Form 10-K . Recently Issued Accounting Guidance Accounting Standards Updates. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) . ASU 2023-07 was issued to improve the disclosures about a public entity’s reportable segments and to provide additional, more detailed information about a reportable segment’s expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied on a retrospective basis to all prior periods presented in the financial statements. The Company is within the scope of this ASU and expects to adopt ASU 2023-07 and related guidance on December 31, 2024. Adoption of ASU 2023-07 is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) . ASU 2023-09 was issued to improve the disclosures primarily related to rate reconciliations and income taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied on a prospective basis; however, retrospective application is permitted. The Company is within the scope of this ASU and expects to adopt ASU 2023-09 on January 1, 2025, on a prospective basis. Adoption of ASU 2023-09 is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures. SEC Final Rule to Enhance and Standardize Climate-Related Disclosures. On March 6, 2024, the SEC adopted final rules to require registrants to disclose certain climate-related information in registration statements and annual reports. On April 4, 2024, the SEC issued an order staying the final rules pending completion of judicial review of the petitions challenging the final rules. The order does not amend the compliance dates contemplated by the final rules, which are applicable to the Company for fiscal years beginning with the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025. The Company is currently evaluating the potential impact of the final rules on its financial statements and related disclosures. As of September 30, 2024, and through the filing of this report, no other accounting guidance has been issued and not yet adopted that is applicable to the Company and that would have a material effect on the Company’s unaudited condensed consolidated financial statements and related disclosures.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 2 - Revenue from Contracts with Customers The Company recognizes its share of revenue from the sale of produced oil, gas, and NGLs from its Midland Basin and South Texas assets. Oil, gas, and NGL production revenue presented within the accompanying unaudited condensed consolidated statements of operations (“accompanying statements of operations”) reflects revenue generated from contracts with customers. The tables below present oil, gas, and NGL production revenue by product type for each of the Company’s operating areas: Midland Basin South Texas Total Three Months Ended Three Months Ended Three Months Ended 2024 2023 2024 2023 2024 2023 (in thousands) Oil production revenue $ 386,915 $ 369,858 $ 144,912 $ 129,376 $ 531,827 $ 499,234 Gas production revenue 19,265 45,215 31,290 36,592 50,555 81,807 NGL production revenue 176 175 59,822 58,483 59,998 58,658 Total $ 406,356 $ 415,248 $ 236,024 $ 224,451 $ 642,380 $ 639,699 Relative percentage 63 % 65 % 37 % 35 % 100 % 100 % Midland Basin South Texas Total Nine Months Ended Nine Months Ended Nine Months Ended 2024 2023 2024 2023 2024 2023 (in thousands) Oil production revenue $ 1,097,936 $ 992,867 $ 407,339 $ 350,598 $ 1,505,275 $ 1,343,465 Gas production revenue 82,636 131,804 80,948 113,461 163,584 245,265 NGL production revenue 394 563 166,174 167,739 166,568 168,302 Total $ 1,180,966 $ 1,125,234 $ 654,461 $ 631,798 $ 1,835,427 $ 1,757,032 Relative percentage 64 % 64 % 36 % 36 % 100 % 100 % The Company recognizes oil, gas, and NGL production revenue at the point in time when custody and title (“control”) of the product transfers to the purchaser, which may differ depending on the applicable contractual terms. Transfer of control determines the presentation of transportation, gathering, processing, and other post-production expenses (“fees and other deductions”) within the accompanying statements of operations. Fees and other deductions incurred by the Company prior to transfer of control are recorded within the oil, gas, and NGL production expense line item on the accompanying statements of operations. When control is transferred at or near the wellhead, sales are based on a wellhead market price that may be affected by fees and other deductions incurred by the purchaser subsequent to the transfer of control. Revenue is recorded in the month when performance obligations are satisfied. However, settlement statements from the purchasers of hydrocarbons and the related cash consideration are received 30 to 90 days after production has occurred. As a result, the Company must estimate the amount of production delivered to the customer and the consideration that will ultimately be received for sale of the product. Estimated revenue due to the Company is recorded within the accounts receivable line item on the accompanying balance sheets until payment is received. The accounts receivable balances from contracts with customers within the accompanying balance sheets as of September 30, 2024, and December 31, 2023, were $173.1 million and $175.3 million, respectively. To estimate accounts receivable from contracts with customers, the Company uses knowledge of its properties, historical performance, contractual arrangements, index pricing, quality and transportation differentials, and other factors as the basis for these estimates. Differences between estimates and actual amounts received for product sales are recorded in the month that payment is received from the purchaser. The time period between production and satisfaction of performance obligations is generally less than one day, therefore there are no material unsatisfied or partially unsatisfied performance obligations at the end of the reporting period.

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity Note Disclosure	Note 3 - Equity Stock Repurchase Program During the second quarter of 2024, the Company’s Board of Directors re-authorized the Company’s existing stock repurchase program to re-establish the Company’s authorization to repurchase up to $500.0 million in aggregate value of its common stock through December 31, 2027 (“Stock Repurchase Program”). The Stock Repurchase Program permits the Company to repurchase shares of its common stock from time to time in open market transactions, through privately negotiated transactions or by other means in accordance with federal securities laws and subject to certain provisions of the Credit Agreement and the indentures governing the Senior Notes, as defined in Note 5 - Long-Term Debt . Please refer to Note 3 - Equity in the 2023 Form 10-K for additional information regarding the Company’s Stock Repurchase Program. The following table presents activity under the Company’s Stock Repurchase Program: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands, except per share data) Shares of common stock repurchased (1) — 2,352 1,771 6,316 Weighted-average price per share (2) $ — $ 40.97 $ 47.40 $ 32.48 Cost of shares of common stock repurchased (2) (3) $ — $ 96,336 $ 83,955 $ 205,120 ____________________________________________ (1) All repurchased shares of the Company’s common stock were retired upon repurchase. (2) Amounts exclude excise taxes, commissions, and fees. (3) Amounts may not calculate due to rounding. As of September 30, 2024, $500.0 million remained available for repurchases of the Company’s outstanding common stock through December 31, 2027, under the Stock Repurchase Program.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 4 - Income Taxes The provision for income taxes consisted of the following: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands) Current portion of income tax expense: Federal $ (10,201) $ (3,923) $ (23,675) $ (6,732) State (1,311) (1,173) (2,589) (1,716) Deferred portion of income tax (expense) benefit (45,615) 51,075 (116,522) (43,171) Income tax (expense) benefit $ (57,127) $ 45,979 $ (142,786) $ (51,619) Effective tax rate 19.2 % (26.1) % 19.7 % 8.3 % Income tax expense or benefit differs from the amount that would be calculated by applying the statutory United States federal income tax rate to income or loss before income taxes. These differences primarily relate to the effect of federal tax credits, state income taxes, excess tax benefits and deficiencies from stock-based compensation awards, tax deduction limitations on compensation of covered individuals, changes in valuation allowances, the cumulative effect of other smaller permanent differences, and can also reflect the cumulative effect of an enacted tax rate change, in the period of enactment, on the Company’s net deferred tax asset and liability balances. The quarterly effective tax rate and the resulting income tax expense or benefit can also be affected by the proportional effects of forecast net income or loss and the correlative effect on the valuation allowance for each of the periods presented in the table above. The Company completed a multi-year research and development (“R&D”) credit study in 2023, which resulted in a favorable adjustment to the Company’s effective tax rate for the three and nine months ended September 30, 2023. The effective tax rates for the three and nine months ended September 30, 2024, reflect the benefit of current R&D credits claimed. The Company expects favorable adjustments to the Company’s effective tax rate to continue in the fourth quarter of 2024 resulting from qualifying R&D activity and anticipated credit claims. The Company complies with authoritative accounting guidance regarding uncertain tax positions. The entire amount of unrecognized tax benefit reported by the Company would affect its effective tax rate if recognized. The Company does not expect a significant change to the recorded unrecognized tax benefits in 2024, except for any potential changes related to the Company’s 2024 R&D credit claims. For all years before 2020, the Company is generally no longer subject to United States federal or state income tax examinations by tax authorities.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Note 5 - Long-Term Debt Credit Agreement The Company’s Credit Agreement provides for a senior secured revolving credit facility with a maximum loan amount of $3.0 billion, and as of September 30, 2024, the borrowing base and aggregate lender commitments under the Credit Agreement were $2.5 billion and $1.25 billion, respectively. Prior to the Second Amendment, as defined and discussed below, commitment fees on the unused portion of the aggregate lender commitment amount were accrued at rates from the borrowing base utilization grid set forth in the Credit Agreement, as presented in Note 5 - Long-Term Debt in the 2023 Form 10-K . The following table presents the outstanding balance, total amount of letters of credit outstanding, and available borrowing capacity under the Credit Agreement as of September 30, 2024, and December 31, 2023: As of September 30, 2024 As of December 31, 2023 (in thousands) Revolving credit facility (1) $ — $ — Letters of credit (2) 2,000 2,500 Available borrowing capacity 1,248,000 1,247,500 Total aggregate lender commitment amount $ 1,250,000 $ 1,250,000 ____________________________________________ (1) Unamortized deferred financing costs attributable to the revolving credit facility are presented as a component of the other noncurrent assets line item on the accompanying balance sheets and totaled $8.9 million and $8.5 million as of September 30, 2024, and December 31, 2023, respectively. These costs are being amortized over the term of the revolving credit facility on a straight-line basis. (2) Letters of credit outstanding reduce the amount available under the revolving credit facility on a dollar-for-dollar basis. First Amendment . On July 2, 2024, the Company and its lenders entered into the First Amendment to the Credit Agreement (“First Amendment”) to amend certain provisions of the Credit Agreement to facilitate financing for the Uinta Basin Acquisition, as defined in Note 11 - Acquisitions . Second Amendment . On October 1, 2024, the Company and its lenders entered into the Second Amendment to the Credit Agreement (“Second Amendment”) in conjunction with the closing of the Uinta Basin Acquisition, as defined in Note 11 - Acquisitions, to, among other things: (i) increase the aggregate revolving lender commitments available under the Credit Agreement from $1.25 billion to $2.0 billion; (ii) extend the maturity date of the Credit Agreement; and (iii) modify certain other provisions reflective of the increased aggregate revolving lender commitments, increased Company size and scale, and extended maturity date. The Credit Agreement is scheduled to mature on the earlier of (a) October 1, 2029 (“Stated Maturity Date”), or (b) 91 days prior to the maturity date of any of the Company’s outstanding Senior Notes, as defined below, to the extent that, on or before such date, the respective Senior Notes in an amount exceeding $50.0 million have not been repaid, exchanged, repurchased, refinanced, or otherwise redeemed in full, and, if refinanced or exchanged, with a scheduled maturity date that is not earlier than at least 180 days after the Stated Maturity Date. Under the Second Amendment, interest and commitment fees associated with the revolving credit facility are accrued based on a total revolving commitments utilization grid set forth in the Second Amendment, and as presented in the table below. At the Company’s election, borrowings under the Credit Agreement may be in the form of Secured Overnight Financing Rate (“SOFR”) revolving loans, Alternate Base Rate (“ABR”) revolving loans, or Swingline loans. SOFR revolving loans accrue interest at SOFR plus the applicable margin from the utilization grid, and ABR revolving loans and Swingline loans accrue interest at a market-based floating rate, plus the applicable margin from the utilization grid. Commitment fees are accrued on the unused portion of the aggregate revolving lender commitment amount at rates from the utilization grid. Total Revolving Commitments Utilization Percentage <25% ≥25% <50% ≥50% <75% ≥75% <90% ≥90% SOFR Revolving Loans 1.750 % 2.000 % 2.250 % 2.500 % 2.750 % ABR Revolving Loans or Swingline Loans 0.750 % 1.000 % 1.250 % 1.500 % 1.750 % Commitment Fee Rate 0.375 % 0.375 % 0.500 % 0.500 % 0.500 % The following table presents the outstanding balance, total amount of letters of credit outstanding, and available borrowing capacity under the Credit Agreement as of October 24, 2024: As of October 24, 2024 (in thousands) Revolving credit facility $ 159,000 Letters of credit (1) 2,000 Available borrowing capacity 1,839,000 Total aggregate lender revolving commitment amount $ 2,000,000 ____________________________________________ (1) Letters of credit outstanding reduce the amount available under the revolving credit facility on a dollar-for-dollar basis. On October 11, 2024, the Company’s lenders completed the semi-annual borrowing base redetermination, which resulted in an increase to the Company’s borrowing base to $3.0 billion and reaffirmed the aggregate revolving lender commitment at the existing amount of $2.0 billion. The next borrowing base redetermination date is scheduled to occur on April 1, 2025. Senior Notes The Company’s Senior Notes, net line item on the accompanying balance sheets as of September 30, 2024, and December 31, 2023, consisted of the following (collectively referred to as “Senior Notes”): As of September 30, 2024 As of December 31, 2023 Principal Amount Unamortized Deferred Financing Costs Principal Amount, Net Principal Amount Unamortized Deferred Financing Costs Principal Amount, Net (in thousands) 5.625% Senior Notes due 2025 $ — $ — $ — $ 349,118 $ 896 $ 348,222 6.75% Senior Notes due 2026 419,235 1,343 417,892 419,235 1,868 417,367 6.625% Senior Notes due 2027 416,791 1,813 414,978 416,791 2,395 414,396 6.5% Senior Notes due 2028 400,000 3,890 396,110 400,000 4,651 395,349 6.75% Senior Notes due 2029 750,000 11,061 738,939 — — — 7.0% Senior Notes due 2032 750,000 11,219 738,781 — — — Total $ 2,736,026 $ 29,326 $ 2,706,700 $ 1,585,144 $ 9,810 $ 1,575,334 On July 25, 2024, the Company issued $750.0 million in aggregate principal amount of its 6.75% Senior Notes at par with a maturity date of August 1, 2029 (“2029 Senior Notes”). The Company received net proceeds of $738.5 million after deducting fees of $11.5 million, which are being amortized as deferred financing costs over the life of the 2029 Senior Notes. Also on July 25, 2024, the Company issued $750.0 million in aggregate principal amount of its 7.0% Senior Notes at par with a maturity date of August 1, 2032 (“2032 Senior Notes”). The Company received net proceeds of $738.5 million after deducting fees of $11.5 million, which are being amortized as deferred financing costs over the life of the 2032 Senior Notes. On August 26, 2024 (“Redemption Date”), the Company redeemed the $349.1 million of aggregate principal amount outstanding of its 5.625% Senior Notes due June 1, 2025 (“2025 Senior Notes”), pursuant to the terms of the indenture governing the 2025 Senior Notes which provided for a redemption price equal to 100 percent of the principal amount outstanding of the 2025 Senior Notes on the Redemption Date, plus accrued and unpaid interest. Upon redemption, the Company recorded a loss on extinguishment of debt of $0.5 million related to the accelerated expense recognition of the remaining unamortized deferred financing costs. The Company canceled all redeemed 2025 Senior Notes upon settlement. The Senior Notes are unsecured senior obligations and rank equal in right of payment with all of the Company’s existing and any future unsecured senior debt and are senior in right of payment to any future subordinated debt. The Company may redeem some or all of its Senior Notes prior to their maturity at redemption prices that may include a premium, plus accrued and unpaid interest as described in the indentures governing the Senior Notes. Covenants The Company is subject to certain financial and non-financial covenants under the Credit Agreement and the indentures governing the Senior Notes that, among other terms, limit the Company’s ability to incur additional indebtedness, make restricted payments including dividends, sell assets, create liens that secure debt, enter into transactions with affiliates, make certain investments, or merge or consolidate with other entities. The Company was in compliance with all financial and non-financial covenants as of September 30, 2024, and through the filing of this report. Please refer to Note 5 - Long-Term Debt in the 2023 Form 10-K , the First Amendment to the Credit Agreement, filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 8, 2024, and the Second Amendment to the Credit Agreement, filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 2, 2024, for additional detail on the Company’s covenants under the Credit Agreement and indentures governing the Senior Notes. Capitalized Interest Capitalized interest costs for the three months ended September 30, 2024, and 2023, totaled $5.4 million and $4.9 million, respectively, and totaled $17.6 million and $16.3 million for the nine months ended September 30, 2024, and 2023, respectively. The amount of interest the Company capitalizes generally fluctuates based on the amount borrowed, the Company’s capital program, and the timing and amount of costs associated with capital projects that are considered in progress. Capitalized interest costs are included in total costs incurred.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6 - Commitments and Contingencies Commitments Other than those items discussed below, there have been no changes in commitments through the filing of this report that differ materially from those disclosed in the 2023 Form 10-K . Drilling Rig Service Contracts . During the nine months ended September 30, 2024, the Company entered into new drilling rig contracts. As of September 30, 2024, the Company’s drilling rig commitments totaled $19.2 million under contract terms extending through the second quarter of 2025. If all of the drilling rig contracts were terminated as of September 30, 2024, the Company would avoid a portion of the contractual service commitments; however, the Company would be required to pay $10.4 million in early termination fees. No early termination penalties or standby fees were incurred by the Company during the nine months ended September 30, 2024, and the Company does not expect to incur material penalties with regard to its drilling rig contracts during the remainder of 2024. Drilling and Completion Commitments . During the nine months ended September 30, 2024, the Company entered into an agreement that includes minimum drilling and completion footage requirements on certain existing leases. If these minimum requirements are not satisfied by March 31, 2026, the Company will be required to pay liquidated damages based on the difference between the actual footage drilled and completed and the minimum requirements. As of September 30, 2024, the liquidated damages could range from zero to a maximum of $55.0 million, with the maximum exposure assuming no additional development activity occurs prior to March 31, 2026. As of the filing of this report, the Company expects to meet its drilling and completion footage obligations under this agreement. Subsequent Events. As part of the Uinta Basin Acquisition, certain contracts and leases containing both short-term and long-term commitments were assigned to the Company effective as of the closing date of October 1, 2024. The Company is evaluating the minimum commitments, terms and conditions, and operational plans related to activities under these contracts and leases, as well as the expected financial statement impact. Please see Note 11 - Acquisitions for discussion and the definition of the Uinta Basin Acquisition. Certain contracts assigned to the Company include material, long-term oil gathering, processing, transportation throughput, and delivery commitments with various third-parties, under which the Company would be required to make periodic deficiency payments for any shortfalls in delivering specified minimum volume commitments. As of October 1, 2024, if the Company failed to deliver any product under these contracts, the aggregate undiscounted deficiency payments would total approximately $135.8 million. One of these contracts does not have a minimum volume commitment associated with it, however, as of October 1, 2024, the Company would owe a cancellation fee of $4.9 million if the agreement was terminated. Contingencies The Company is subject to litigation and claims arising in the ordinary course of business. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. As of the filing of this report, in the opinion of management, the anticipated results of any pending litigation and claims are not expected to have a material effect on the results of operations, the financial position, or the cash flows of the Company.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Financial Instruments	Note 7 - Derivative Financial Instruments Summary of Oil, Gas, and NGL Derivative Contracts in Place The Company regularly enters into commodity derivative contracts to mitigate a portion of its exposure to oil, gas, and NGL price volatility and location differentials, and the associated effect on cash flows. All commodity derivative contracts that the Company enters into are for other-than-trading purposes. The Company’s commodity derivative contracts consist of price swap and collar arrangements for oil and gas production, and price swap arrangements for NGL production. In a typical commodity swap agreement, if the agreed upon published third-party index price (“index price”) is lower than the swap price, the Company receives the difference between the index price and the agreed upon swap price. If the index price is higher than the swap price, the Company pays the difference. For collar arrangements, the Company receives the difference between an agreed upon index price and the floor price if the index price is below the floor price. The Company pays the difference between the agreed upon ceiling price and the index price if the index price is above the ceiling price. No amounts are paid or received if the index price is between the floor and ceiling prices. The Company has entered into fixed price oil and gas basis swaps in order to mitigate exposure to adverse pricing differentials between certain industry benchmark prices and the actual physical pricing points where the Company’s production is sold. As of September 30, 2024, the Company had basis swap contracts with fixed price differentials between: • NYMEX WTI and Argus WTI Midland (“WTI Midland”) for a portion of its Midland Basin oil production with sales contracts that settle at WTI Midland prices; • NYMEX WTI and Argus WTI Houston Magellan East Houston Terminal (“WTI Houston MEH”) for a portion of its South Texas oil production with sales contracts that settle at WTI Houston MEH prices; • NYMEX Henry Hub (“HH”) and Inside FERC Houston Ship Channel (“IF HSC”) for a portion of its South Texas gas production with sales contracts that settle at IF HSC prices; and • NYMEX HH and Inside FERC West Texas (“IF Waha”) for a portion of its Midland Basin gas production with sales contracts that settle at IF Waha prices. The Company has also entered into oil swap contracts to fix the differential in pricing between the NYMEX calendar month average and the physical crude oil delivery month (“Roll Differential”) in which the Company pays the periodic variable Roll Differential and receives a weighted-average fixed price differential. The weighted-average fixed price differential represents the amount of net addition (reduction) to delivery month prices for the notional volumes covered by the swap contracts. As of September 30, 2024, the Company had commodity derivative contracts outstanding through the fourth quarter of 2026 as summarized in the table below: Contract Period Fourth Quarter 2024 2025 2026 Oil Derivatives (volumes in MBbl and prices in $ per Bbl): Swaps NYMEX WTI Volumes 1,906 1,973 — Weighted-Average Contract Price $ 74.25 $ 72.36 $ — Collars NYMEX WTI Volumes 1,917 4,515 — Weighted-Average Floor Price $ 69.93 $ 65.69 $ — Weighted-Average Ceiling Price $ 82.27 $ 81.65 $ — Basis Swaps WTI Midland-NYMEX WTI Volumes 1,230 4,556 — Weighted-Average Contract Price $ 1.21 $ 1.18 $ — WTI Houston MEH-NYMEX WTI Volumes 309 2,130 1,546 Weighted-Average Contract Price $ 1.82 $ 1.86 $ 2.02 Roll Differential Swaps NYMEX WTI Volumes 2,334 — — Weighted-Average Contract Price $ 0.66 $ — $ — Gas Derivatives (volumes in BBtu and prices in $ per MMBtu): Swaps NYMEX HH Volumes 1,569 7,321 4,645 Weighted-Average Contract Price $ 3.03 $ 3.97 $ 3.73 IF Waha Volumes — — 1,548 Weighted-Average Contract Price $ — $ — $ 3.26 Collars NYMEX HH Volumes 7,328 29,920 13,438 Weighted-Average Floor Price $ 3.38 $ 3.23 $ 3.25 Weighted-Average Ceiling Price $ 4.97 $ 4.70 $ 4.90 Basis Swaps IF Waha-NYMEX HH Volumes 5,240 20,501 — Weighted-Average Contract Price $ (0.73) $ (0.66) $ — IF HSC-NYMEX HH Volumes 5,750 946 — Weighted-Average Contract Price $ (0.38) $ 0.0025 $ — NGL Derivatives (volumes in MBbl and prices in $ per Bbl): Swaps OPIS Propane Mont Belvieu Non-TET Volumes 434 396 — Weighted-Average Contract Price $ 31.85 $ 32.86 $ — OPIS Normal Butane Mont Belvieu Non-TET Volumes 97 45 — Weighted-Average Contract Price $ 39.84 $ 39.48 $ — OPIS Isobutane Mont Belvieu Non-TET Volumes 28 25 — Weighted-Average Contract Price $ 41.58 $ 41.58 $ — Commodity Derivative Contracts Entered Into Subsequent to September 30, 2024 Subsequent to September 30, 2024, and through the filing of this report, the Company entered into the following commodity derivative contracts: • NYMEX WTI price swap contracts for the first through third quarters of 2025 for a total of 1.9 MMBbl of oil production at a weighted-average contract price of $71.72 per Bbl; and • NYMEX HH price swap contract for the second quarter of 2026 for a total of 1,430 BBtu of gas production at a weighted-average contract price of $3.25 per MMBtu. Derivative Assets and Liabilities Fair Value The Company’s commodity derivatives are measured at fair value and are included in the accompanying balance sheets as derivative assets and liabilities, with the exception of derivative instruments that meet the “normal purchase normal sale” exclusion. The Company does not designate its commodity derivative contracts as hedging instruments. The fair value of commodity derivative contracts at September 30, 2024, and December 31, 2023, was a net asset of $81.0 million and $57.1 million, respectively. The following table details the fair value of commodity derivative contracts recorded in the accompanying balance sheets, by category: As of September 30, 2024 As of December 31, 2023 (in thousands) Derivative assets: Current assets $ 72,287 $ 56,442 Noncurrent assets 11,584 8,672 Total derivative assets $ 83,871 $ 65,114 Derivative liabilities: Current liabilities $ 2,401 $ 6,789 Noncurrent liabilities 448 1,273 Total derivative liabilities $ 2,849 $ 8,062 Offsetting of Derivative Assets and Liabilities As of September 30, 2024, and December 31, 2023, all derivative instruments held by the Company were subject to master netting arrangements with various financial institutions. In general, the terms of the Company’s agreements provide for offsetting of amounts payable or receivable between it and the counterparty, at the election of both parties, for transactions that settle on the same date and in the same currency. The Company’s agreements also provide that in the event of an early termination, the counterparties have the right to offset amounts owed or owing under that and any other agreement with the same counterparty. The Company’s accounting policy is to not offset these positions in its accompanying balance sheets. The following table provides a reconciliation between the gross assets and liabilities reflected on the accompanying balance sheets and the potential effects of master netting arrangements on the fair value of the Company’s commodity derivative contracts: Derivative Assets as of Derivative Liabilities as of September 30, December 31, 2023 September 30, December 31, 2023 (in thousands) Gross amounts presented in the accompanying balance sheets $ 83,871 $ 65,114 $ (2,849) $ (8,062) Amounts not offset in the accompanying balance sheets (2,849) (7,362) 2,849 7,362 Net amounts $ 81,022 $ 57,752 $ — $ (700) The following table summarizes the commodity components of the net derivative settlement (gain) loss, and the net derivative (gain) loss line items presented within the accompanying unaudited condensed consolidated statements of cash flows (“accompanying statements of cash flows”) and the accompanying statements of operations, respectively: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands) Net derivative settlement (gain) loss: Oil contracts $ 487 $ 13,446 $ (877) $ 20,144 Gas contracts (16,735) (11,643) (46,639) (37,495) NGL contracts (243) (1,489) 1,228 (3,047) Total net derivative settlement (gain) loss $ (16,491) $ 314 $ (46,288) $ (20,398) Net derivative (gain) loss: Oil contracts $ (65,633) $ 77,857 $ (29,805) $ 31,172 Gas contracts (15,291) (4,437) (41,624) (14,655) NGL contracts (5,359) 1,935 1,173 (4,165) Total net derivative (gain) loss $ (86,283) $ 75,355 $ (70,256) $ 12,352 Credit Related Contingent Features As of September 30, 2024, and through the filing of this report, all of the Company’s derivative counterparties were members of the Company’s Credit Agreement lender group. The Company does not enter into derivative contracts with counterparties that are not part of the lender group. Under the Credit Agreement, the Company is required to provide mortgage liens on assets having a value equal to at least 85 percent of the total PV-9, as defined in the Credit Agreement, of the Company’s proved oil and gas properties evaluated in the most recent reserve report. Collateral securing indebtedness under the Credit Agreement also secures the Company’s derivative agreement obligations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Note 8 - Fair Value Measurements The Company follows fair value measurement accounting guidance for all assets and liabilities measured at fair value. This guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Market or observable inputs are the preferred sources of values, followed by assumptions based on hypothetical transactions in the absence of market inputs. The fair value hierarchy for grouping these assets and liabilities is based on the significance level of the following inputs: • Level 1 – quoted prices in active markets for identical assets or liabilities • Level 2 – quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations whose inputs are observable or whose significant value drivers are observable • Level 3 – significant inputs to the valuation model are unobservable The following table is a listing of the Company’s assets and liabilities that are measured at fair value in the accompanying balance sheets and where they are classified within the fair value hierarchy: As of September 30, 2024 As of December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in thousands) Assets: Derivatives (1) $ — $ 83,871 $ — $ — $ 65,114 $ — Liabilities: Derivatives (1) $ — $ 2,849 $ — $ — $ 8,062 $ — __________________________________________ (1) This represents a financial asset or liability that is measured at fair value on a recurring basis. 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 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. Derivatives The Company uses Level 2 inputs to measure the fair value of oil, gas, and NGL commodity derivative instruments. Fair values are based upon interpolated data. The Company derives internal valuation estimates taking into consideration forward commodity price curves, counterparties’ credit ratings, the Company’s credit rating, and the time value of money. These valuations are then compared to the respective counterparties’ mark-to-market statements. The considered factors result in an estimated exit price that management believes provides a reasonable and consistent methodology for valuing derivative instruments. The commodity derivative instruments utilized by the Company are not considered by management to be complex, structured, or illiquid. The oil, gas, and NGL commodity derivative markets are highly active. Please refer to Note 7 - Derivative Financial Instruments for more information regarding the Company’s derivative instruments. Long-Term Debt The following table reflects the fair value of the Company’s Senior Notes obligations measured using Level 1 inputs based on quoted secondary market trading prices. These notes were not presented at fair value on the accompanying balance sheets as of September 30, 2024, or December 31, 2023, as they were recorded at carrying value, net of any unamortized deferred financing costs. Please refer to Note 5 - Long-Term Debt for additional information. As of September 30, 2024 As of December 31, 2023 Principal Amount Fair Value Principal Amount Fair Value (in thousands) 5.625% Senior Notes due 2025 $ — $ — $ 349,118 $ 348,189 6.75% Senior Notes due 2026 $ 419,235 $ 419,759 $ 419,235 $ 420,660 6.625% Senior Notes due 2027 $ 416,791 $ 417,362 $ 416,791 $ 416,549 6.5% Senior Notes due 2028 $ 400,000 $ 400,240 $ 400,000 $ 401,372 6.75% Senior Notes due 2029 $ 750,000 $ 753,750 $ — $ — 7.0% Senior Notes due 2032 $ 750,000 $ 753,780 $ — $ —

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 9 - Earnings Per Share Basic net income or loss per common share is calculated by dividing net income or loss available to common stockholders by the basic weighted-average number of common shares outstanding for the respective period. Diluted net income or loss per common share is calculated by dividing net income or loss available to common stockholders by the diluted weighted-average number of common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist primarily of non-vested restricted stock units (“RSU” or “RSUs”) and contingent performance share units (“PSU” or “PSUs”), which were measured using the treasury stock method. Please refer to Note 10 - Compensation Plans in this report and Note 9 - Earnings Per Share in the 2023 Form 10-K for additional detail on these potentially dilutive securities. The following table sets forth the calculations of basic and diluted net income per common share: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands, except per share data) Net income $ 240,523 $ 222,343 $ 582,015 $ 570,769 Basic weighted-average common shares outstanding 114,405 117,823 114,870 119,589 Dilutive effect of non-vested RSUs, contingent PSUs, and other 588 505 831 576 Diluted weighted-average common shares outstanding 114,993 118,328 115,701 120,165 Basic net income per common share $ 2.10 $ 1.89 $ 5.07 $ 4.77 Diluted net income per common share $ 2.09 $ 1.88 $ 5.03 $ 4.75

Compensation Plans

Compensation Plans	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Compensation Plans	Note 10 - Compensation Plans The Company may grant various types of both short-term and long-term incentive-based awards under its compensation plans, such as time-based cash awards, performance-based cash awards, and equity awards to eligible employees. Additionally, the Company grants stock-based compensation to its Board of Directors and provides an employee stock purchase plan. As of September 30, 2024, approximately 2.3 million shares of common stock were available for grant under the Company’s Equity Incentive Compensation Plan (“Equity Plan”). Performance Share Units The Company has granted PSUs to eligible employees as part of its Equity Plan. The number of shares of the Company’s common stock issued to settle PSUs ranges from zero to two times the number of PSUs awarded and is determined based on certain criteria over a three For PSUs granted in 2024, 2023, and 2022, which the Company determined to be equity awards, settlement will be determined based on a combination of the following criteria measured over the three Compensation expense for PSUs is recognized within general and administrative expense and exploration expense over the vesting periods of the respective awards. Total compensation expense recorded for PSUs was $1.1 million and $1.0 million for the three months ended September 30, 2024, and 2023, respectively, and $3.5 million and $1.8 million for the nine months ended September 30, 2024, and 2023, respectively. As of September 30, 2024, there was $6.0 million of total unrecognized compensation expense related to non-vested PSUs, which is being amortized through mid-2026. There were no material changes to the outstanding and non-vested PSUs during the nine months ended September 30, 2024. Subsequent to September 30, 2024, the Company granted a total of 231,120 PSUs with a grant date fair value of $9.9 million. Employee Restricted Stock Units The Company has granted RSUs to eligible employees as part of its Equity Plan. Each RSU represents a right to receive one share of the Company’s common stock upon settlement of the award at the end of the specified vesting period. RSUs generally vest in one-third increments on each anniversary of the applicable grant date over the applicable vesting period or upon other triggering events as set forth in the Equity Plan. The Company records compensation expense associated with the issuance of RSUs based on the fair value of the awards as of the grant date. The fair value of an RSU is equal to the closing price of the Company’s common stock on the grant date. Compensation expense for RSUs is recognized within general and administrative expense and exploration expense over the vesting periods of the respective awards. During the nine months ended September 30, 2024, the Company granted a total of 490,481 RSUs with a grant date fair value of $21.3 million, and the Company settled RSUs upon the vesting of awards granted in previous years. The Company and all eligible recipients mutually agreed to net share settle a portion of the awards to cover income and payroll tax withholdings, as provided for in the Equity Plan and applicable award agreements. After withholding 158,252 shares to satisfy income and payroll tax withholding obligations, the Company issued 350,675 shares of common stock in accordance with the terms of the applicable award agreements. Total compensation expense recorded for RSUs was $4.5 million and $4.1 million for the three months ended September 30, 2024, and 2023, respectively, and $12.0 million and $10.8 million for the nine months ended September 30, 2024, and 2023, respectively. As of September 30, 2024, there was $33.8 million of total unrecognized compensation expense related to non-vested RSUs, which is being amortized through mid-2027. A summary of activity during the nine months ended September 30, 2024, is presented in the following table: RSUs Weighted-Average Grant-Date Fair Value (1) Non-vested at beginning of year 1,080,544 $ 31.49 Granted 490,481 $ 43.42 Vested (507,171) $ 30.18 Forfeited (36,906) $ 32.87 Non-vested at end of quarter 1,026,948 $ 37.79 ____________________________________________ (1) Amounts represent price per unit. Director Shares During the nine months ended September 30, 2024, and 2023, the Company issued a total of 37,530 and 56,872 shares, respectively, of its common stock to its non-employee directors under the Equity Plan. Shares issued to non-employee directors that were elected at the Company’s 2024 annual meeting of stockholders will fully vest on December 31, 2024, and shares issued to non-employee directors that were elected at the Company’s 2023 annual meeting of stockholders fully vested on December 31, 2023. Employee Stock Purchase Plan Under the Company’s Employee Stock Purchase Plan (“ESPP”), eligible employees may purchase shares of the Company’s common stock through payroll deductions of up to 15 percent of their eligible compensation, subject to a maximum of 2,500 shares per offering period and a maximum of $25,000 in value related to purchases for each calendar year. The purchase price of the common stock is 85 percent of the lower of the trading price of the common stock on either the first or last day of the six-month offering period. The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. There were a total of 56,006 and 68,192 shares issued under the ESPP during the nine months ended September 30, 2024, and 2023, respectively. Total proceeds to the Company for the issuance of these shares was $1.8 million during each of the nine months ended September 30, 2024, and 2023. The fair value of ESPP grants is measured at the date of grant using the Black-Scholes option-pricing model. Please refer to Note 10 - Compensation Plans in the 2023 Form 10-K for additional detail on the Company’s compensation plans.

Divestitures, Assets Held for S

Divestitures, Assets Held for Sale, and Acquisitions	9 Months Ended
	Sep. 30, 2024
Asset Acquisition [Abstract]
Acquisitions, Assets Held for Sale, and Divestitures	Note 11 - Acquisitions 2024 Acquisition Activity On June 27, 2024, the Company entered into a Purchase and Sale Agreement (“XCL Acquisition Agreement”) with XCL AssetCo, LLC, XCL Marketing, LLC, Wasatch Water Logistics, LLC, XCL Resources, LLC, and XCL SandCo, LLC, (collectively referred to as the “XCL Sellers”) and, for the limited purposes described therein, Northern Oil and Gas, Inc. (“NOG”). Pursuant to the XCL Acquisition Agreement, the Company agreed to purchase all of the rights, titles and interests in the Uinta Basin oil and gas assets owned by the XCL Sellers (“XCL Assets”). Concurrently with the execution of the XCL Acquisition Agreement, the Company entered into an Acquisition and Cooperation Agreement (“Cooperation Agreement”) with NOG, pursuant to which the Company and NOG agreed to cooperate in connection with the XCL Acquisition Agreement and NOG agreed to acquire an undivided 20 percent interest in the assets acquired pursuant to the XCL Acquisition Agreement. Upon execution of the XCL Acquisition Agreement, the Company deposited with an escrow agent a cash deposit of $102.0 million (“Cash Deposit”), which is presented in the acquisition deposit held in escrow line item on the accompanying balance sheets as of September 30, 2024. Pursuant to the terms of the XCL Acquisition Agreement, the Company had the option to acquire certain additional assets adjacent to the XCL Assets (“Altamont Option Assets”) from the XCL Sellers for a purchase price equal to the XCL Sellers’ cost to acquire the Altamont Option Assets plus the XCL Sellers’ related out of pocket expenses. On August 5, 2024, the Company exercised the option to acquire the Altamont Option Assets. On October 1, 2024 (“Closing Date”), immediately prior to the closing of the transactions contemplated by the XCL Acquisition Agreement, and as permitted by the XCL Acquisition Agreement and Cooperation Agreement, the Company assigned an undivided 20 percent interest in the XCL Acquisition Agreement to NOG and caused the XCL Sellers to directly assign an undivided 20 percent interest in both the XCL Assets and the Altamont Option Assets to NOG. Accordingly, on the Closing Date, the Company completed the acquisition of an undivided 80 percent interest in both the XCL Assets and the Altamont Option Assets, with an effective date of May 1, 2024 (“Uinta Basin Acquisition”). The Company’s undivided 80 percent interest in the assets acquired in the Uinta Basin Acquisition consists of approximately 63,300 net acres. On the Closing Date, the unadjusted purchase price, net to the Company’s 80 percent undivided interest in the Uinta Basin Acquisition, was approximately $2.1 billion. The Company paid approximately $1.9 billion in cash to the XCL Sellers, using a portion of the net proceeds from the issuance of the 2029 Senior Notes and 2032 Senior Notes discussed in Note 5 - Long-Term Debt , cash on hand, and borrowings under the Company’s revolving credit facility. Additionally, a majority of the Cash Deposit was disbursed to the XCL Sellers on the Closing Date. The remaining portion of the Cash Deposit will remain in escrow pending the completion of post-closing purchase price adjustments, which are expected to occur in the first quarter of 2025. Final purchase accounting for the Uinta Basin Acquisition was not complete at the time that this report was filed. The Company expects to account for the Uinta Basin Acquisition as an asset acquisition and will include any required disclosures and information related to the Uinta Basin Acquisition in its 2024 Annual Report on Form 10-K or earlier filed Current Reports on Form 8-K, as applicable, pursuant to the rules and regulations of the SEC and authoritative accounting guidance. 2023 Acquisition Activity On June 30, 2023, the Company acquired approximately 20,000 net acres of oil and gas properties located in Dawson and northern Martin counties, Texas. Total consideration paid after purchase price adjustments during the nine months ended September 30, 2023, was $88.9 million. Under authoritative accounting guidance, this transaction was accounted for as an asset acquisition. Therefore, the properties were recorded based on the total consideration paid after purchase price adjustments and the transaction costs were capitalized as a component of the cost of the assets acquired. Additionally, during the third quarter of 2023, the Company acquired additional working interests in certain wells located in the Midland Basin for approximately $20.4 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, the instructions to Quarterly Report on Form 10-Q, and Regulation S-X. These financial statements do not include all information and notes required by GAAP for annual financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the 2023 Form 10-K . In the opinion of management, all adjustments, consisting of normal recurring adjustments considered necessary for a fair presentation of interim financial information, have been included. Operating results for the periods presented are not necessarily indicative of expected results for the full year. In connection with the preparation of the Company’s unaudited condensed consolidated financial statements, the Company evaluated events subsequent to the balance sheet date of September 30, 2024, and through the filing of this report. Additionally, certain prior period amounts have been reclassified to conform to current period presentation in the accompanying unaudited condensed consolidated financial statements.
Recently Issued Accounting Standards, Policy [Policy Text Block]	Recently Issued Accounting Guidance Accounting Standards Updates. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) . ASU 2023-07 was issued to improve the disclosures about a public entity’s reportable segments and to provide additional, more detailed information about a reportable segment’s expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied on a retrospective basis to all prior periods presented in the financial statements. The Company is within the scope of this ASU and expects to adopt ASU 2023-07 and related guidance on December 31, 2024. Adoption of ASU 2023-07 is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) . ASU 2023-09 was issued to improve the disclosures primarily related to rate reconciliations and income taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied on a prospective basis; however, retrospective application is permitted. The Company is within the scope of this ASU and expects to adopt ASU 2023-09 on January 1, 2025, on a prospective basis. Adoption of ASU 2023-09 is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures. SEC Final Rule to Enhance and Standardize Climate-Related Disclosures. On March 6, 2024, the SEC adopted final rules to require registrants to disclose certain climate-related information in registration statements and annual reports. On April 4, 2024, the SEC issued an order staying the final rules pending completion of judicial review of the petitions challenging the final rules. The order does not amend the compliance dates contemplated by the final rules, which are applicable to the Company for fiscal years beginning with the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025. The Company is currently evaluating the potential impact of the final rules on its financial statements and related disclosures. As of September 30, 2024, and through the filing of this report, no other accounting guidance has been issued and not yet adopted that is applicable to the Company and that would have a material effect on the Company’s unaudited condensed consolidated financial statements and related disclosures.
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block]	The Company’s accounting policy is to not offset
Fair Value of Financial Instruments, Policy [Policy Text Block]	Derivatives The Company uses Level 2 inputs to measure the fair value of oil, gas, and NGL commodity derivative instruments. Fair values are based upon interpolated data. The Company derives internal valuation estimates taking into consideration forward commodity price curves, counterparties’ credit ratings, the Company’s credit rating, and the time value of money. These valuations are then compared to the respective counterparties’ mark-to-market statements. The considered factors result in an estimated exit price that management believes provides a reasonable and consistent methodology for valuing derivative instruments. The commodity derivative instruments utilized by the Company are not considered by management to be complex, structured, or illiquid. The oil, gas, and NGL commodity derivative markets are highly active. Please refer to Note 7 - Derivative Financial Instruments for more information regarding the Company’s derivative instruments.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Policies)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block]	The Company’s accounting policy is to not offset

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Policies)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	Derivatives The Company uses Level 2 inputs to measure the fair value of oil, gas, and NGL commodity derivative instruments. Fair values are based upon interpolated data. The Company derives internal valuation estimates taking into consideration forward commodity price curves, counterparties’ credit ratings, the Company’s credit rating, and the time value of money. These valuations are then compared to the respective counterparties’ mark-to-market statements. The considered factors result in an estimated exit price that management believes provides a reasonable and consistent methodology for valuing derivative instruments. The commodity derivative instruments utilized by the Company are not considered by management to be complex, structured, or illiquid. The oil, gas, and NGL commodity derivative markets are highly active. Please refer to Note 7 - Derivative Financial Instruments for more information regarding the Company’s derivative instruments.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of oil, gas, and NGL production revenue	The tables below present oil, gas, and NGL production revenue by product type for each of the Company’s operating areas: Midland Basin South Texas Total Three Months Ended Three Months Ended Three Months Ended 2024 2023 2024 2023 2024 2023 (in thousands) Oil production revenue $ 386,915 $ 369,858 $ 144,912 $ 129,376 $ 531,827 $ 499,234 Gas production revenue 19,265 45,215 31,290 36,592 50,555 81,807 NGL production revenue 176 175 59,822 58,483 59,998 58,658 Total $ 406,356 $ 415,248 $ 236,024 $ 224,451 $ 642,380 $ 639,699 Relative percentage 63 % 65 % 37 % 35 % 100 % 100 % Midland Basin South Texas Total Nine Months Ended Nine Months Ended Nine Months Ended 2024 2023 2024 2023 2024 2023 (in thousands) Oil production revenue $ 1,097,936 $ 992,867 $ 407,339 $ 350,598 $ 1,505,275 $ 1,343,465 Gas production revenue 82,636 131,804 80,948 113,461 163,584 245,265 NGL production revenue 394 563 166,174 167,739 166,568 168,302 Total $ 1,180,966 $ 1,125,234 $ 654,461 $ 631,798 $ 1,835,427 $ 1,757,032 Relative percentage 64 % 64 % 36 % 36 % 100 % 100 %

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Stock Repurchase Activity	The following table presents activity under the Company’s Stock Repurchase Program: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands, except per share data) Shares of common stock repurchased (1) — 2,352 1,771 6,316 Weighted-average price per share (2) $ — $ 40.97 $ 47.40 $ 32.48 Cost of shares of common stock repurchased (2) (3) $ — $ 96,336 $ 83,955 $ 205,120 ____________________________________________ (1) All repurchased shares of the Company’s common stock were retired upon repurchase. (2) Amounts exclude excise taxes, commissions, and fees. (3) Amounts may not calculate due to rounding.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	The provision for income taxes consisted of the following: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands) Current portion of income tax expense: Federal $ (10,201) $ (3,923) $ (23,675) $ (6,732) State (1,311) (1,173) (2,589) (1,716) Deferred portion of income tax (expense) benefit (45,615) 51,075 (116,522) (43,171) Income tax (expense) benefit $ (57,127) $ 45,979 $ (142,786) $ (51,619) Effective tax rate 19.2 % (26.1) % 19.7 % 8.3 %

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	The following table presents the outstanding balance, total amount of letters of credit outstanding, and available borrowing capacity under the Credit Agreement as of September 30, 2024, and December 31, 2023: As of September 30, 2024 As of December 31, 2023 (in thousands) Revolving credit facility (1) $ — $ — Letters of credit (2) 2,000 2,500 Available borrowing capacity 1,248,000 1,247,500 Total aggregate lender commitment amount $ 1,250,000 $ 1,250,000 ____________________________________________ (1) Unamortized deferred financing costs attributable to the revolving credit facility are presented as a component of the other noncurrent assets line item on the accompanying balance sheets and totaled $8.9 million and $8.5 million as of September 30, 2024, and December 31, 2023, respectively. These costs are being amortized over the term of the revolving credit facility on a straight-line basis. (2) Letters of credit outstanding reduce the amount available under the revolving credit facility on a dollar-for-dollar basis.
Debt Instrument Borrowing Base Utilization	Under the Second Amendment, interest and commitment fees associated with the revolving credit facility are accrued based on a total revolving commitments utilization grid set forth in the Second Amendment, and as presented in the table below. At the Company’s election, borrowings under the Credit Agreement may be in the form of Secured Overnight Financing Rate (“SOFR”) revolving loans, Alternate Base Rate (“ABR”) revolving loans, or Swingline loans. SOFR revolving loans accrue interest at SOFR plus the applicable margin from the utilization grid, and ABR revolving loans and Swingline loans accrue interest at a market-based floating rate, plus the applicable margin from the utilization grid. Commitment fees are accrued on the unused portion of the aggregate revolving lender commitment amount at rates from the utilization grid. Total Revolving Commitments Utilization Percentage <25% ≥25% <50% ≥50% <75% ≥75% <90% ≥90% SOFR Revolving Loans 1.750 % 2.000 % 2.250 % 2.500 % 2.750 % ABR Revolving Loans or Swingline Loans 0.750 % 1.000 % 1.250 % 1.500 % 1.750 % Commitment Fee Rate 0.375 % 0.375 % 0.500 % 0.500 % 0.500 %
Increased Schedule of Line of Credit Facilities	The following table presents the outstanding balance, total amount of letters of credit outstanding, and available borrowing capacity under the Credit Agreement as of October 24, 2024: As of October 24, 2024 (in thousands) Revolving credit facility $ 159,000 Letters of credit (1) 2,000 Available borrowing capacity 1,839,000 Total aggregate lender revolving commitment amount $ 2,000,000 ____________________________________________ (1) Letters of credit outstanding reduce the amount available under the revolving credit facility on a dollar-for-dollar basis.
Schedule of Long-term Debt Instruments	The Company’s Senior Notes, net line item on the accompanying balance sheets as of September 30, 2024, and December 31, 2023, consisted of the following (collectively referred to as “Senior Notes”): As of September 30, 2024 As of December 31, 2023 Principal Amount Unamortized Deferred Financing Costs Principal Amount, Net Principal Amount Unamortized Deferred Financing Costs Principal Amount, Net (in thousands) 5.625% Senior Notes due 2025 $ — $ — $ — $ 349,118 $ 896 $ 348,222 6.75% Senior Notes due 2026 419,235 1,343 417,892 419,235 1,868 417,367 6.625% Senior Notes due 2027 416,791 1,813 414,978 416,791 2,395 414,396 6.5% Senior Notes due 2028 400,000 3,890 396,110 400,000 4,651 395,349 6.75% Senior Notes due 2029 750,000 11,061 738,939 — — — 7.0% Senior Notes due 2032 750,000 11,219 738,781 — — — Total $ 2,736,026 $ 29,326 $ 2,706,700 $ 1,585,144 $ 9,810 $ 1,575,334

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Schedule of notional amounts of outstanding derivative positions	As of September 30, 2024, the Company had commodity derivative contracts outstanding through the fourth quarter of 2026 as summarized in the table below: Contract Period Fourth Quarter 2024 2025 2026 Oil Derivatives (volumes in MBbl and prices in $ per Bbl): Swaps NYMEX WTI Volumes 1,906 1,973 — Weighted-Average Contract Price $ 74.25 $ 72.36 $ — Collars NYMEX WTI Volumes 1,917 4,515 — Weighted-Average Floor Price $ 69.93 $ 65.69 $ — Weighted-Average Ceiling Price $ 82.27 $ 81.65 $ — Basis Swaps WTI Midland-NYMEX WTI Volumes 1,230 4,556 — Weighted-Average Contract Price $ 1.21 $ 1.18 $ — WTI Houston MEH-NYMEX WTI Volumes 309 2,130 1,546 Weighted-Average Contract Price $ 1.82 $ 1.86 $ 2.02 Roll Differential Swaps NYMEX WTI Volumes 2,334 — — Weighted-Average Contract Price $ 0.66 $ — $ — Gas Derivatives (volumes in BBtu and prices in $ per MMBtu): Swaps NYMEX HH Volumes 1,569 7,321 4,645 Weighted-Average Contract Price $ 3.03 $ 3.97 $ 3.73 IF Waha Volumes — — 1,548 Weighted-Average Contract Price $ — $ — $ 3.26 Collars NYMEX HH Volumes 7,328 29,920 13,438 Weighted-Average Floor Price $ 3.38 $ 3.23 $ 3.25 Weighted-Average Ceiling Price $ 4.97 $ 4.70 $ 4.90 Basis Swaps IF Waha-NYMEX HH Volumes 5,240 20,501 — Weighted-Average Contract Price $ (0.73) $ (0.66) $ — IF HSC-NYMEX HH Volumes 5,750 946 — Weighted-Average Contract Price $ (0.38) $ 0.0025 $ — NGL Derivatives (volumes in MBbl and prices in $ per Bbl): Swaps OPIS Propane Mont Belvieu Non-TET Volumes 434 396 — Weighted-Average Contract Price $ 31.85 $ 32.86 $ — OPIS Normal Butane Mont Belvieu Non-TET Volumes 97 45 — Weighted-Average Contract Price $ 39.84 $ 39.48 $ — OPIS Isobutane Mont Belvieu Non-TET Volumes 28 25 — Weighted-Average Contract Price $ 41.58 $ 41.58 $ —
Schedule of fair value of derivatives in accompanying balance sheets	The following table details the fair value of commodity derivative contracts recorded in the accompanying balance sheets, by category: As of September 30, 2024 As of December 31, 2023 (in thousands) Derivative assets: Current assets $ 72,287 $ 56,442 Noncurrent assets 11,584 8,672 Total derivative assets $ 83,871 $ 65,114 Derivative liabilities: Current liabilities $ 2,401 $ 6,789 Noncurrent liabilities 448 1,273 Total derivative liabilities $ 2,849 $ 8,062
Schedule of the potential effects of master netting arrangements	The following table provides a reconciliation between the gross assets and liabilities reflected on the accompanying balance sheets and the potential effects of master netting arrangements on the fair value of the Company’s commodity derivative contracts: Derivative Assets as of Derivative Liabilities as of September 30, December 31, 2023 September 30, December 31, 2023 (in thousands) Gross amounts presented in the accompanying balance sheets $ 83,871 $ 65,114 $ (2,849) $ (8,062) Amounts not offset in the accompanying balance sheets (2,849) (7,362) 2,849 7,362 Net amounts $ 81,022 $ 57,752 $ — $ (700)
Schedule of the components of the net derivative settlement (gain) loss and the net derivative (gain) loss	The following table summarizes the commodity components of the net derivative settlement (gain) loss, and the net derivative (gain) loss line items presented within the accompanying unaudited condensed consolidated statements of cash flows (“accompanying statements of cash flows”) and the accompanying statements of operations, respectively: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands) Net derivative settlement (gain) loss: Oil contracts $ 487 $ 13,446 $ (877) $ 20,144 Gas contracts (16,735) (11,643) (46,639) (37,495) NGL contracts (243) (1,489) 1,228 (3,047) Total net derivative settlement (gain) loss $ (16,491) $ 314 $ (46,288) $ (20,398) Net derivative (gain) loss: Oil contracts $ (65,633) $ 77,857 $ (29,805) $ 31,172 Gas contracts (15,291) (4,437) (41,624) (14,655) NGL contracts (5,359) 1,935 1,173 (4,165) Total net derivative (gain) loss $ (86,283) $ 75,355 $ (70,256) $ 12,352

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis	The following table is a listing of the Company’s assets and liabilities that are measured at fair value in the accompanying balance sheets and where they are classified within the fair value hierarchy: As of September 30, 2024 As of December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in thousands) Assets: Derivatives (1) $ — $ 83,871 $ — $ — $ 65,114 $ — Liabilities: Derivatives (1) $ — $ 2,849 $ — $ — $ 8,062 $ — __________________________________________ (1) This represents a financial asset or liability that is measured at fair value on a recurring basis.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	Long-Term Debt The following table reflects the fair value of the Company’s Senior Notes obligations measured using Level 1 inputs based on quoted secondary market trading prices. These notes were not presented at fair value on the accompanying balance sheets as of September 30, 2024, or December 31, 2023, as they were recorded at carrying value, net of any unamortized deferred financing costs. Please refer to Note 5 - Long-Term Debt for additional information. As of September 30, 2024 As of December 31, 2023 Principal Amount Fair Value Principal Amount Fair Value (in thousands) 5.625% Senior Notes due 2025 $ — $ — $ 349,118 $ 348,189 6.75% Senior Notes due 2026 $ 419,235 $ 419,759 $ 419,235 $ 420,660 6.625% Senior Notes due 2027 $ 416,791 $ 417,362 $ 416,791 $ 416,549 6.5% Senior Notes due 2028 $ 400,000 $ 400,240 $ 400,000 $ 401,372 6.75% Senior Notes due 2029 $ 750,000 $ 753,750 $ — $ — 7.0% Senior Notes due 2032 $ 750,000 $ 753,780 $ — $ —

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of calculations of basic and diluted net income (loss) per common share	The following table sets forth the calculations of basic and diluted net income per common share: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 (in thousands, except per share data) Net income $ 240,523 $ 222,343 $ 582,015 $ 570,769 Basic weighted-average common shares outstanding 114,405 117,823 114,870 119,589 Dilutive effect of non-vested RSUs, contingent PSUs, and other 588 505 831 576 Diluted weighted-average common shares outstanding 114,993 118,328 115,701 120,165 Basic net income per common share $ 2.10 $ 1.89 $ 5.07 $ 4.77 Diluted net income per common share $ 2.09 $ 1.88 $ 5.03 $ 4.75

Compensation Related Costs, Gen

Compensation Related Costs, General (Tables)	9 Months Ended
	Sep. 30, 2024
Compensation Related Costs [Abstract]
Schedule of non-vested RSUs	A summary of activity during the nine months ended September 30, 2024, is presented in the following table: RSUs Weighted-Average Grant-Date Fair Value (1) Non-vested at beginning of year 1,080,544 $ 31.49 Granted 490,481 $ 43.42 Vested (507,171) $ 30.18 Forfeited (36,906) $ 32.87 Non-vested at end of quarter 1,026,948 $ 37.79 ____________________________________________ (1) Amounts represent price per unit.

Disaggregation of oil, gas, and

Disaggregation of oil, gas, and NGL production revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 642,380	$ 639,699	$ 1,835,427	$ 1,757,032
Revenue, Remaining Performance Obligation, Amount	0		0
Midland Basin
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	406,356	415,248	1,180,966	1,125,234
South Texas
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 236,024	$ 224,451	$ 654,461	$ 631,798
Revenue Benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Relative percentage	100%	100%	100%	100%
Revenue Benchmark | Geographic Concentration Risk | Midland Basin
Segment Reporting Information [Line Items]
Relative percentage	63%	65%	64%	64%
Revenue Benchmark | Geographic Concentration Risk | South Texas
Segment Reporting Information [Line Items]
Relative percentage	37%	35%	36%	36%
Oil production revenue
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 531,827	$ 499,234	$ 1,505,275	$ 1,343,465
Oil production revenue | Midland Basin
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	386,915	369,858	1,097,936	992,867
Oil production revenue | South Texas
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	144,912	129,376	407,339	350,598
Gas production revenue
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	50,555	81,807	163,584	245,265
Gas production revenue | Midland Basin
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	19,265	45,215	82,636	131,804
Gas production revenue | South Texas
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	31,290	36,592	80,948	113,461
NGL production revenue
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	59,998	58,658	166,568	168,302
NGL production revenue | Midland Basin
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	176	175	394	563
NGL production revenue | South Texas
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 59,822	$ 58,483	$ 166,174	$ 167,739

Accounts Receivable from Custom

Accounts Receivable from Customers (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accrued Income Receivable
Accounts Receivable [Line Items]
Accounts receivable from contracts with customers	$ 173.1	$ 175.3
Minimum
Accounts Receivable [Line Items]
Revenue receipt, days after sale	30
Maximum
Accounts Receivable [Line Items]
Revenue receipt, days after sale	90

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Equity [Abstract]
Stock Repurchase Program, Authorized Amount						$ 500,000
Stock Repurchase Program Expiration Date	Dec. 31, 2027
Stock Repurchased and Retired During Period (Shares)		0	2,352	1,771	6,316
Stock Repurchase Program, Shares Repurchased, Weighted Average Price Per Share		$ 0	$ 40.97	$ 47.40	$ 32.48
Stock Repurchased and Retired During Period Excluding Excise Taxes, Commission, and Fees, Value		$ 0	$ 96,336	$ 83,955	$ 205,120
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 500,000	$ 500,000		$ 500,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of the provision for income taxes
Federal	$ (10,201)	$ (3,923)	$ (23,675)	$ (6,732)
State	(1,311)	(1,173)	(2,589)	(1,716)
Deferred portion of income tax (expense) benefit	(45,615)	51,075	(116,522)	(43,171)
Income tax (expense) benefit	$ (57,127)	$ 45,979	$ (142,786)	$ (51,619)
Effective tax rate	19.20%	(26.10%)	19.70%	8.30%

Credit Agreement (Details)

Credit Agreement (Details) - USD ($) $ in Thousands		1 Months Ended
	Oct. 01, 2024	Oct. 31, 2024	Oct. 24, 2024	Oct. 11, 2024	Sep. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Revolving credit facility					$ 0	$ 0
Borrowing Base Utilization of Less Than 25 Percent | Revolving Credit Facility [Member] | Subsequent Event
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, unused capacity, commitment fee rate		0.375%
Borrowing Base Utilization of Less Than 25 Percent | Revolving Credit Facility [Member] | Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		1.75%
Borrowing Base Utilization of Less Than 25 Percent | Revolving Credit Facility [Member] | Subsequent Event | Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		0.75%
Borrowing Base Utilization of Less Than 25 Percent Or More But Less Than 50 Percent | Revolving Credit Facility [Member] | Subsequent Event
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, unused capacity, commitment fee rate		0.375%
Borrowing Base Utilization of Less Than 25 Percent Or More But Less Than 50 Percent | Revolving Credit Facility [Member] | Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		2%
Borrowing Base Utilization of Less Than 25 Percent Or More But Less Than 50 Percent | Revolving Credit Facility [Member] | Subsequent Event | Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		1%
Borrowing Base Utilization Of 50 Percent Or More But Less Than 75 Percent | Revolving Credit Facility [Member] | Subsequent Event
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, unused capacity, commitment fee rate		0.50%
Borrowing Base Utilization Of 50 Percent Or More But Less Than 75 Percent | Revolving Credit Facility [Member] | Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		2.25%
Borrowing Base Utilization Of 50 Percent Or More But Less Than 75 Percent | Revolving Credit Facility [Member] | Subsequent Event | Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		1.25%
Borrowing Base Utilization Of 75 Percent Or More But Less Than 90 Percent | Revolving Credit Facility [Member] | Subsequent Event
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, unused capacity, commitment fee rate		0.50%
Borrowing Base Utilization Of 75 Percent Or More But Less Than 90 Percent | Revolving Credit Facility [Member] | Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		2.50%
Borrowing Base Utilization Of 75 Percent Or More But Less Than 90 Percent | Revolving Credit Facility [Member] | Subsequent Event | Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		1.50%
Borrowing Base Utilization Of 90 Percent Or More | Revolving Credit Facility [Member] | Subsequent Event
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, unused capacity, commitment fee rate		0.50%
Borrowing Base Utilization Of 90 Percent Or More | Revolving Credit Facility [Member] | Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		2.75%
Borrowing Base Utilization Of 90 Percent Or More | Revolving Credit Facility [Member] | Subsequent Event | Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans
Debt Instrument Borrowing Base Utilization [Line Items]
Revolving credit facility, basis spread on variable rate		1.75%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, maximum loan amount					3,000,000
Revolving credit facility, current borrowing base					2,500,000
Revolving credit facility, aggregate lender commitments					1,250,000	1,250,000
Revolving credit facility					0	0
Letters of credit					2,000	2,500
Available borrowing capacity					1,248,000	1,247,500
Revolving Credit Facility, unamortized deferred financing costs					$ 8,900	$ 8,500
Revolving Credit Facility | Subsequent Event
Line of Credit Facility [Line Items]
Revolving credit facility, current borrowing base				$ 3,000,000
Revolving credit facility, aggregate lender commitments	$ 2,000,000		$ 2,000,000
Debt Instrument, Maturity Date	Oct. 01, 2029
Revolving credit facility			159,000
Letters of credit			2,000
Available borrowing capacity			$ 1,839,000
Minimum Repayment Amount For Outstanding Senior Notes Under Credit Agreement	$ 50,000

Senior Notes (Details)

Senior Notes (Details) - USD ($) $ in Thousands	Aug. 26, 2024	Jul. 25, 2024	Sep. 30, 2024	Dec. 31, 2023
Senior Notes [Line Items]
Senior Notes, Principal Amount, Net			$ 2,706,700	$ 1,575,334
5.625% Senior Unsecured Notes due 2025
Senior Notes [Line Items]
Senior Notes, repurchased principal amount	$ 349,100
5.625% Senior Unsecured Notes due 2025
Senior Notes [Line Items]
Senior Notes, interest rate, stated percentage			5.625%	5.625%
Senior Notes, Principal amount			$ 0	$ 349,118
Senior Notes, unamortized deferred financing costs			0	896
Senior Notes, Principal Amount, Net			$ 0	$ 348,222
Senior Notes, Redemption Price, Percentage	100%
5.625% Senior Unsecured Notes due 2025 | Accelerated unamortized deferred financing costs
Senior Notes [Line Items]
Write off of Deferred Debt Issuance Cost	$ 500
6.75% Senior Unsecured Notes due 2026
Senior Notes [Line Items]
Senior Notes, interest rate, stated percentage			6.75%	6.75%
Senior Notes, Principal amount			$ 419,235	$ 419,235
Senior Notes, unamortized deferred financing costs			1,343	1,868
Senior Notes, Principal Amount, Net			$ 417,892	$ 417,367
6.625% Senior Unsecured Notes due 2027
Senior Notes [Line Items]
Senior Notes, interest rate, stated percentage			6.625%	6.625%
Senior Notes, Principal amount			$ 416,791	$ 416,791
Senior Notes, unamortized deferred financing costs			1,813	2,395
Senior Notes, Principal Amount, Net			$ 414,978	$ 414,396
6.5% Senior Unsecured Notes Due 2028
Senior Notes [Line Items]
Senior Notes, interest rate, stated percentage			6.50%	6.50%
Senior Notes, Principal amount			$ 400,000	$ 400,000
Senior Notes, unamortized deferred financing costs			3,890	4,651
Senior Notes, Principal Amount, Net			$ 396,110	$ 395,349
6.750% Senior Notes Due 2029
Senior Notes [Line Items]
Senior Notes, interest rate, stated percentage		6.75%	6.75%	6.75%
Senior Notes, Principal amount		$ 750,000	$ 750,000	$ 0
Senior Notes, unamortized deferred financing costs			11,061	0
Senior Notes, Principal Amount, Net			$ 738,939	$ 0
Debt Instrument, Issuance Date		Jul. 25, 2024
Debt Instrument, Maturity Date		Aug. 01, 2029
Proceeds from Debt, Net of Issuance Costs		$ 738,500
Senior Secured Notes, Debt Issuance Costs, Gross		$ 11,500
7.000% Senior Notes Due 2032
Senior Notes [Line Items]
Senior Notes, interest rate, stated percentage		7%	7%	7%
Senior Notes, Principal amount		$ 750,000	$ 750,000	$ 0
Senior Notes, unamortized deferred financing costs			11,219	0
Senior Notes, Principal Amount, Net			738,781	0
Debt Instrument, Issuance Date		Jul. 25, 2024
Debt Instrument, Maturity Date		Aug. 01, 2032
Proceeds from Debt, Net of Issuance Costs		$ 738,500
Senior Secured Notes, Debt Issuance Costs, Gross		$ 11,500
Senior Notes
Senior Notes [Line Items]
Senior Notes, Principal amount			2,736,026	1,585,144
Senior Notes, unamortized deferred financing costs			$ 29,326	$ 9,810

Long-Term Debt Redemption (Deta

Long-Term Debt Redemption (Details) $ in Millions	Aug. 26, 2024 USD ($)
5.625% Senior Unsecured Notes due 2025
Debt Instrument, Redemption [Line Items]
Senior Notes, Redemption Price, Percentage	100%
5.625% Senior Unsecured Notes due 2025 | Accelerated unamortized deferred financing costs
Debt Instrument, Redemption [Line Items]
Write off of Deferred Debt Issuance Cost	$ 0.5
5.625% Senior Unsecured Notes due 2025
Debt Instrument, Redemption [Line Items]
Senior Notes, repurchased principal amount	$ 349.1

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Long-Term Debt [Line Items]
Debt Instrument, Covenant Compliance				The Company was in compliance with all financial and non-financial covenants as of September 30, 2024, and through the filing of this report.
Capitalized interest costs		$ 5.4	$ 4.9	$ 17.6	$ 16.3
Subsequent Event
Long-Term Debt [Line Items]
Debt Instrument, Covenant Compliance	The Company was in compliance with all financial and non-financial covenants as of September 30, 2024, and through the filing of this report.

Commitments (Details)

Commitments (Details) - USD ($) $ in Thousands		9 Months Ended
	Oct. 01, 2024	Sep. 30, 2024
Uinta Basin Acquisition | Subsequent Event
Commitments and Contingencies [Line Items]
Acquisition Closing Date	Oct. 01, 2024
Minimum
Commitments and Contingencies [Line Items]
Potential penalty for not meeting minimum drilling and completion requirements		$ 0
Maximum
Commitments and Contingencies [Line Items]
Potential penalty for not meeting minimum drilling and completion requirements		55,000
Drilling Rig Leasing Contracts
Commitments and Contingencies [Line Items]
Contractual Obligation		19,200
Potential Early Termination Penalty for Rig Contract Cancellation		10,400
Early Termination Penalty Incurred for Rig Contract Cancellation		$ 0
Delivery Commitments | Subsequent Event
Commitments and Contingencies [Line Items]
Contractual Obligation	$ 135,800
Potential Early Termination Penalty for Delivery Contract Cancellation	$ 4,900

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) BTU in Billions		1 Months Ended
	Sep. 30, 2024 BTU $ / EnergyContent $ / Barrels bbl	Oct. 31, 2024 BTU $ / Barrels $ / EnergyContent bbl
NYMEX Oil Swap Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,906,000
Derivative, Swap Type, Weighted-Average Contract Price	74.25
NYMEX Oil Swap Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,973,000
Derivative, Swap Type, Weighted-Average Contract Price	72.36
NYMEX Oil Swap Contract, Year 2 | Subsequent Event
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl		1.9
Derivative, Swap Type, Weighted-Average Contract Price		71.72
NYMEX Oil Swap Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Swap Type, Weighted-Average Contract Price	0
NYMEX Oil Collar Contract, Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,917,000
Derivative, Weighted-Average Floor Price	69.93
Derivative, Weighted-Average Ceiling Price	82.27
NYMEX Oil Collar Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	4,515,000
Derivative, Weighted-Average Floor Price	65.69
Derivative, Weighted-Average Ceiling Price	81.65
NYMEX Oil Collar Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Weighted-Average Floor Price	0
Derivative, Weighted-Average Ceiling Price	0
NYMEX Oil Calendar Month Average Roll Differential Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	2,334,000
Derivative, Roll Differential Swap Type, Weighted-Average Contract Price	0.66
NYMEX Oil Calendar Month Average Roll Differential Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Roll Differential Swap Type, Weighted-Average Contract Price	0
NYMEX Oil Calendar Month Average Roll Differential Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Roll Differential Swap Type, Weighted-Average Contract Price	0
WTI Midland NYMEX WTI | Oil Basis Swap Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,230,000
Derivative, Oil Basis Swap Type, Weighted-Average Contract Price	1.21
WTI Midland NYMEX WTI | Oil Basis Swap Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	4,556,000
Derivative, Oil Basis Swap Type, Weighted-Average Contract Price	1.18
WTI Midland NYMEX WTI | Oil Basis Swap Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Oil Basis Swap Type, Weighted-Average Contract Price	0
WTI Houston MEH NYMEX WTI | Oil Basis Swap Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	309,000
Derivative, Oil Basis Swap Type, Weighted-Average Contract Price	1.82
WTI Houston MEH NYMEX WTI | Oil Basis Swap Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	2,130,000
Derivative, Oil Basis Swap Type, Weighted-Average Contract Price	1.86
WTI Houston MEH NYMEX WTI | Oil Basis Swap Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	1,546,000
Derivative, Oil Basis Swap Type, Weighted-Average Contract Price	2.02
NYMEX HH | Gas Swaps Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	1,569
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent	3.03
NYMEX HH | Gas Swaps Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	7,321
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent	3.97
NYMEX HH | Gas Swaps Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	4,645
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent	3.73
NYMEX HH | Gas Swaps Contract, Year 3 | Subsequent Event
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU		1,430
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent		3.25
NYMEX HH | Gas Collar Contract, Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	7,328
Derivative, Weighted-Average Floor Price | $ / EnergyContent	3.38
Derivative, Weighted-Average Ceiling Price | $ / EnergyContent	4.97
NYMEX HH | Gas Collar Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	29,920
Derivative, Weighted-Average Floor Price | $ / EnergyContent	3.23
Derivative, Weighted-Average Ceiling Price | $ / EnergyContent	4.70
NYMEX HH | Gas Collar Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	13,438
Derivative, Weighted-Average Floor Price | $ / EnergyContent	3.25
Derivative, Weighted-Average Ceiling Price | $ / EnergyContent	4.90
IF WAHA | Gas Swaps Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	0
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent	0
IF WAHA | Gas Swaps Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	0
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent	0
IF WAHA | Gas Swaps Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	1,548
Derivative, Swap Type, Weighted-Average Contract Price | $ / EnergyContent	3.26
IF WAHA NYMEX HH | Gas Basis Swap Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	5,240
Derivative, Gas Basis Swap Type, Weighted-Average Contract Price | $ / EnergyContent	(0.73)
IF WAHA NYMEX HH | Gas Basis Swap Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	20,501
Derivative, Gas Basis Swap Type, Weighted-Average Contract Price | $ / EnergyContent	(0.66)
IF WAHA NYMEX HH | Gas Basis Swap Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	0
Derivative, Gas Basis Swap Type, Weighted-Average Contract Price | $ / EnergyContent	0
IF HSC NYMEX HH | Gas Basis Swap Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	5,750
Derivative, Gas Basis Swap Type, Weighted-Average Contract Price | $ / EnergyContent	(0.38)
IF HSC NYMEX HH | Gas Basis Swap Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	946
Derivative, Gas Basis Swap Type, Weighted-Average Contract Price | $ / EnergyContent	0.0025
IF HSC NYMEX HH | Gas Basis Swap Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	0
Derivative, Gas Basis Swap Type, Weighted-Average Contract Price | $ / EnergyContent	0
OPIS Propane Mont Belvieu Non-TET | NGL Swaps Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	434,000
Derivative, Swap Type, Weighted-Average Contract Price	31.85
OPIS Propane Mont Belvieu Non-TET | NGL Swaps Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	396,000
Derivative, Swap Type, Weighted-Average Contract Price	32.86
OPIS Propane Mont Belvieu Non-TET | NGL Swaps Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Swap Type, Weighted-Average Contract Price	0
OPIS Normal Butane Mont Belvieu Non-TET | NGL Swaps Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	97,000
Derivative, Swap Type, Weighted-Average Contract Price	39.84
OPIS Normal Butane Mont Belvieu Non-TET | NGL Swaps Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	45,000
Derivative, Swap Type, Weighted-Average Contract Price	39.48
OPIS Normal Butane Mont Belvieu Non-TET | NGL Swaps Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Swap Type, Weighted-Average Contract Price	0
OPIS Isobutane Mont Belvieu Non-TET | NGL Swaps Contract Fourth Quarter, Year 1
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	28,000
Derivative, Swap Type, Weighted-Average Contract Price	41.58
OPIS Isobutane Mont Belvieu Non-TET | NGL Swaps Contract, Year 2
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	25,000
Derivative, Swap Type, Weighted-Average Contract Price	41.58
OPIS Isobutane Mont Belvieu Non-TET | NGL Swaps Contract, Year 3
Derivative Financial Instruments
Derivative, Nonmonetary Notional Amount, Volume | bbl	0
Derivative, Swap Type, Weighted-Average Contract Price	0

Derivative Financial Instrume_4

Derivative Financial Instruments Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair value of derivative assets and liabilities
Derivative, fair value, net	$ 81,000	$ 57,100
Derivative assets, current	72,287	56,442
Derivative assets, noncurrent	11,584	8,672
Total derivative assets	83,871	65,114
Derivative liabilities, current	2,401	6,789
Derivatives liabilities, noncurrent	448	1,273
Total derivative liabilities	(2,849)	(8,062)
Derivative asset, amounts not offset in the accompanying balance sheets	(2,849)	(7,362)
Derivative liabilities, amounts not offset in the accompanying balance sheets	2,849	7,362
Derivative asset, fair value, net amounts	81,022	57,752
Derivative liabilities, fair value, net amounts	0	(700)
Not Designated as Hedging Instrument
Fair value of derivative assets and liabilities
Derivative assets, current	72,287	56,442
Derivative assets, noncurrent	11,584	8,672
Derivative liabilities, current	2,401	6,789
Derivatives liabilities, noncurrent	448	1,273
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Not Designated as Hedging Instrument
Fair value of derivative assets and liabilities
Total derivative assets	83,871	65,114
Total derivative liabilities	$ 2,849	$ 8,062

Derivative Financial Instrume_5

Derivative Financial Instruments Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, (Gain) Loss [Line Items]
Net derivative settlement (gain) loss	$ (16,491)	$ 314	$ (46,288)	$ (20,398)
Net derivative (gain) loss	(86,283)	75,355	(70,256)	12,352
Oil Contracts
Derivative Instruments, (Gain) Loss [Line Items]
Net derivative settlement (gain) loss	487	13,446	(877)	20,144
Net derivative (gain) loss	(65,633)	77,857	(29,805)	31,172
Gas Contracts
Derivative Instruments, (Gain) Loss [Line Items]
Net derivative settlement (gain) loss	(16,735)	(11,643)	(46,639)	(37,495)
Net derivative (gain) loss	(15,291)	(4,437)	(41,624)	(14,655)
NGL Contracts
Derivative Instruments, (Gain) Loss [Line Items]
Net derivative settlement (gain) loss	(243)	(1,489)	1,228	(3,047)
Net derivative (gain) loss	$ (5,359)	$ 1,935	$ 1,173	$ (4,165)

Credit Facility and Derivative

Credit Facility and Derivative Counterparties (Details)	Sep. 30, 2024
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Percentage of proved property secured for credit facility borrowing	85%

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 25, 2024	Dec. 31, 2023
Assets
Derivative Assets, Fair Value, Gross Asset	$ 83,871		$ 65,114
Liabilities
Derivative Liability, Fair Value, Gross Liability	$ (2,849)		$ (8,062)
5.625% Senior Unsecured Notes due 2025
Debt Instrument, Fair Value Disclosure [Abstract]
Senior Notes, interest rate, stated percentage	5.625%		5.625%
Senior Notes, Principal amount	$ 0		$ 349,118
Long-term Debt, Fair Value	$ 0		$ 348,189
6.75% Senior Unsecured Notes due 2026
Debt Instrument, Fair Value Disclosure [Abstract]
Senior Notes, interest rate, stated percentage	6.75%		6.75%
Senior Notes, Principal amount	$ 419,235		$ 419,235
Long-term Debt, Fair Value	$ 419,759		$ 420,660
6.625% Senior Unsecured Notes due 2027
Debt Instrument, Fair Value Disclosure [Abstract]
Senior Notes, interest rate, stated percentage	6.625%		6.625%
Senior Notes, Principal amount	$ 416,791		$ 416,791
Long-term Debt, Fair Value	$ 417,362		$ 416,549
6.5% Senior Unsecured Notes Due 2028
Debt Instrument, Fair Value Disclosure [Abstract]
Senior Notes, interest rate, stated percentage	6.50%		6.50%
Senior Notes, Principal amount	$ 400,000		$ 400,000
Long-term Debt, Fair Value	$ 400,240		$ 401,372
6.750% Senior Notes Due 2029
Debt Instrument, Fair Value Disclosure [Abstract]
Senior Notes, interest rate, stated percentage	6.75%	6.75%	6.75%
Senior Notes, Principal amount	$ 750,000	$ 750,000	$ 0
Long-term Debt, Fair Value	$ 753,750		$ 0
7.000% Senior Notes Due 2032
Debt Instrument, Fair Value Disclosure [Abstract]
Senior Notes, interest rate, stated percentage	7%	7%	7%
Senior Notes, Principal amount	$ 750,000	$ 750,000	$ 0
Long-term Debt, Fair Value	753,780		0
Not Designated as Hedging Instrument | Fair Value, Recurring | Fair Value, Inputs, Level 1
Assets
Derivative Assets, Fair Value, Gross Asset	0		0
Liabilities
Derivative Liability, Fair Value, Gross Liability	0		0
Not Designated as Hedging Instrument | Fair Value, Recurring | Fair Value, Inputs, Level 2
Assets
Derivative Assets, Fair Value, Gross Asset	83,871		65,114
Liabilities
Derivative Liability, Fair Value, Gross Liability	2,849		8,062
Not Designated as Hedging Instrument | Fair Value, Recurring | Fair Value, Inputs, Level 3
Assets
Derivative Assets, Fair Value, Gross Asset	0		0
Liabilities
Derivative Liability, Fair Value, Gross Liability	$ 0		$ 0

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share Reconciliation [Abstract]
Net income	$ 240,523	$ 210,293	$ 131,199	$ 222,343	$ 149,874	$ 198,552	$ 582,015	$ 570,769
Basic weighted-average common shares outstanding	114,405			117,823			114,870	119,589
Dilutive effect of non-vested RSUs, contingent PSUs, and other	588			505			831	576
Diluted weighted-average common shares outstanding	114,993			118,328			115,701	120,165
Basic net income per common share	$ 2.10			$ 1.89			$ 5.07	$ 4.77
Diluted net income per common share	$ 2.09			$ 1.88			$ 5.03	$ 4.75

Compensation Plans_ Stock Based

Compensation Plans: Stock Based (Details) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2024 USD ($) shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Shares available for grant		2,300,000		2,300,000
Performance Shares (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period				3 years
Stock-based compensation expense | $		$ 1.1	$ 1	$ 3.5	$ 1.8
Unrecognized stock based compensation expense | $		$ 6		$ 6
Performance Shares (PSUs) | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	231,120
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted in Period, Total Fair Value | $	$ 9.9
Performance Shares (PSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Multiplier applied to PSU awards at settlement		0		0
Performance Shares (PSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Multiplier applied to PSU awards at settlement		2		2
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense | $		$ 4.5	$ 4.1	$ 12	$ 10.8
Unrecognized stock based compensation expense | $		$ 33.8		$ 33.8
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				490,481
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted in Period, Total Fair Value | $				$ 21.3
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		1,026,948		1,026,948		1,080,544
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ / shares		$ 37.79		$ 37.79		$ 31.49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares				$ 43.42
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				507,171
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares				$ 30.18
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				36,906
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares				$ 32.87
Number of shares represented by each RSU		1		1
Shares Withheld for Tax Withholding Obligation				158,252
Shares Issued in Period				350,675

Director Shares (Details)

Director Shares (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Director
Share-based Compensation Arrangement by Share-based Payment Award
Shares issued to directors	37,530	56,872

Employee Stock Purchase Plan (D

Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Maximum Employee Subscription Rate	15%
Maximum Number of Shares Per Employee	2,500
Maximum Employee Subscription Value	$ 25
Purchase Price of Common Stock, Percent	85%
Issuance of common stock under Employee Stock Purchase Plan (Shares)	56,006	68,192
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Excluding Option Exercised	$ 1,800	$ 1,800

Acquisitions (Details)

Acquisitions (Details) $ in Thousands						3 Months Ended	9 Months Ended
	Oct. 01, 2024 USD ($) a	Aug. 05, 2024	Jun. 27, 2024	May 01, 2024	Jun. 30, 2023 a	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Asset Acquisition [Line Items]
Acquisition deposit held in escrow								$ 102,000	$ 0
Asset Acquisition, Consideration Transferred						$ 20,400
XCL Asset Acquisition
Asset Acquisition [Line Items]
Asset Acquisition, Date of Acquisition Agreement			Jun. 27, 2024
Acquisition deposit held in escrow								$ 102,000
Altamont Option Assets
Asset Acquisition [Line Items]
Asset Acquisition, Date of Acquisition Agreement		Aug. 05, 2024
Q2 2023 Dawson and Martin County Asset Acquisitions
Asset Acquisition [Line Items]
Asset Acquisition, Effective Date of Acquisition					Jun. 30, 2023
Net Acres Acquired | a					20,000
Asset Acquisition, Consideration Transferred							$ 88,900
Uinta Basin Acquisition
Asset Acquisition [Line Items]
Asset Acquisition, Effective Date of Acquisition				May 01, 2024
Uinta Basin Acquisition | Subsequent Event
Asset Acquisition [Line Items]
Undivided Interest Acquired by Others	20%
Acquisition Closing Date	Oct. 01, 2024
Undivided Interest Acquired	80%
Net Acres Acquired | a	63,300
Asset Acquisition, Price of Acquisition	$ 2,100,000
Asset Acquisition, Consideration Transferred	$ 1,900,000