Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Extractive Industries [Abstract]

Schedule of Costs Incurred in Oil and Gas Producing Activities

The Company’s oil and natural gas activities for 2022, 2021 and 2020 were entirely within the United States of America. Costs incurred in oil and natural gas producing activities were as follows (in thousands):

	Years Ended December 31,
	2022		2021		2020
Acquisition cost:
Proved	$	1,934,602	$	465,144	$	—
Unproved	77,378		43		—
Exploration costs:
Geological and geophysical	2,492		341		298
Development costs	538,114		134,035		67,550
Total additions	$	2,552,586	$	599,563	$	67,848

Summary of Capitalized Costs, Impairment, and Depreciation, Depletion and Amortization

Capitalized costs, impairment, and depreciation, depletion and amortization relating to the Company’s oil and natural gas properties producing activities, all of which are conducted within the continental United States as of December 31, 2022 and 2021, are summarized below (in thousands):

	December 31,
	2022		2021
Oil and gas properties, successful efforts method:
Proved properties	$	4,088,553	$	1,726,019
Accumulated impairment to proved properties	(100,652)		(100,652)
Proved properties, net of accumulated impairments	3,987,901		1,625,367
Unproved properties	349,905		289,341
Accumulated impairment to Unproved properties	(67,316)		(67,316)
Unproved properties, net of accumulated impairments	282,589		222,025
Land	5,482		5,382
Total oil and gas properties, net of accumulated impairments	4,275,972		1,852,774
Accumulated depreciation, depletion and amortization	(619,196)		(395,625)
Net oil and gas properties	$	3,656,776	$	1,457,149

Summary of Changes in Quantities of Proved Oil and Natural Gas Reserves

A summary of the Company’s changes in quantities of proved oil, natural gas and natural gas liquid reserves for the years ended December 31, 2022, 2021 and 2020 are as follows:

	Oil (MBbl)	Natural Gas (MMcf)	Natural Gas Liquids (MBbl)	Total (MBoe)
Balance - December 31, 2019	52,650	107,990	23,688	94,336
Extensions	420	1,258	230	860
Production	(3,180)	(7,282)	(1,237)	(5,630)
Revision to previous estimates	(9,800)	9,249	(2,432)	(10,691)
Balance - December 31, 2020	40,090	111,215	20,249	78,875
Extensions	7,016	49,846	6,532	21,856
Sales of minerals in place	(8)	(1)	—	(8)
Purchases of minerals in place	25,114	106,539	17,103	59,973
Production	(4,381)	(14,505)	(2,257)	(9,055)
Revision to previous estimates	(6,756)	31,787	(2,596)	(4,054)
Balance - December 31, 2021	61,075	284,881	39,031	147,587
Extensions	13,430	51,346	7,895	29,883
Sales of minerals in place	(2,044)	(6,631)	(1,417)	(4,566)
Purchases of minerals in place	85,237	429,646	56,268	213,113
Production	(11,866)	(54,392)	(7,599)	(28,531)
Revision to previous estimates	(7,432)	37,316	11,663	10,450
Balance - December 31, 2022	138,400	742,166	105,841	367,936
Proved developed reserves:
December 31, 2019	18,220	35,120	7,447	31,521
December 31, 2020	18,878	55,764	10,125	38,298
December 31, 2021	35,824	190,999	25,917	93,575
December 31, 2022	88,759	574,762	80,168	264,721
Proved undeveloped reserves:
December 31, 2019	34,430	72,870	16,241	62,815
December 31, 2020	21,212	55,450	10,123	40,577
December 31, 2021	25,251	93,882	13,114	54,012
December 31, 2022	49,641	167,404	25,673	103,215

The table below presents the quantities of proved oil, natural gas and natural gas liquids reserves attributable to noncontrolling interests as of December 31, 2022 and 2021 and 2020:

As of December 31, 2022	Oil (MBbl)	Natural Gas (MMcf)	Natural Gas Liquids (MBbl)	Total (MBoe)
Proved developed	21,750	140,845	19,645	64,870
Proved undeveloped	12,165	41,022	6,291	25,293
Total proved	33,915	181,867	25,936	90,163
As of December 31, 2021	Oil (MBbl)	Natural Gas (MMcf)	Natural Gas Liquids (MBbl)	Total (MBoe)
Proved developed	14,011	74,702	10,137	36,598
Proved undeveloped	9,876	36,719	5,129	21,125
Total proved	23,887	111,421	15,266	57,723
As of December 31, 2020	Oil (MBbl)	Natural Gas (MMcf)	Natural Gas Liquids (MBbl)	Total (MBoe)
Proved developed	10,113	29,873	5,424	20,516
Proved undeveloped	11,363	29,704	5,423	21,737
Total proved	21,476	59,577	10,847	42,253

Schedule of Changes in PUD Reserves

Changes in PUD reserves for the years ended December 31, 2022, 2021 and 2020 were as follows (in MBoe): 

Proved undeveloped reserves at December 31, 2019 (1)	62,815
Conversions to developed	(8,200)
Extensions	—
Revision to previous estimates	(14,038)
Proved undeveloped reserves at December 31, 2020 (2)	40,577
Conversions to developed	(8,274)
Extensions	20,521
Purchases of minerals in place	11,577
Revision to previous estimates	(10,389)
Proved undeveloped reserves at December 31, 2021 (3)	54,012
Conversions to developed	(22,637)
Extensions	16,499
Purchases of minerals in place	57,432
Revision to previous estimates	(2,091)
Proved undeveloped reserves at December 31, 2022 (4)	103,215

(1)Includes 34,243 MBoe attributable to noncontrolling interests.

(2)Includes 21,737 MBoe attributable to noncontrolling interests.

(3)Includes 21,125 MBoe attributable to noncontrolling interests.

(4)Includes 25,293 MBoe attributable to noncontrolling interests.

Schedule Of Standardized Measure

The Standardized Measure at December 31, 2022, 2021 and 2020 is as follows (in thousands):

	December 31,
	2022		2021		2020
Future cash inflows	$	21,506,026	$	6,042,508	$	1,902,073
Future production costs	(6,362,901)		(1,641,130)		(633,248)
Future development costs	(1,207,597)		(470,008)		(285,088)
Future income tax expense	(1,910,370)		(381,663)		(35,557)
Future net cash flows	12,025,158		3,549,707		948,180
10% annual discount for estimated timing of cash flows	(5,300,657)		(1,731,335)		(487,327)
Standardized measure of discounted future net cash flows (1)	$	6,724,501	$	1,818,372	$	460,853

(1)At December 31, 2022, 2021 and 2020, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $1.6 billion, $711.2 million and $246.9 million, respectively.

Schedule Of Changes In Standardized Measure Of Discontinued Future Net Cash Flows Relating To Proved Oil And Natural Gas Reserves

The following is a summary of the changes in the Standardized Measure for the Company’s proved oil and natural gas reserves during each of the years in the three-year period ended December 31, 2022 (in thousands):

	December 31,
	2022		2021		2020
Beginning of year	$	1,818,372	$	460,853	$	789,577
Sales of oil and gas produced, net of production costs	(1,341,586)		(343,914)		(105,555)
Sales of minerals in place	(76,570)		14		14
Net changes in prices and production costs	3,838,439		1,346,851		(381,769)
Extensions and improved recoveries	1,178,521		216,583		14,644
Changes in income taxes, net	(866,805)		(185,757)		17,826
Previously estimated development costs incurred during the period	246,705		41,120		66,788
Net changes in future development costs	(295,553)		(104,223)		258,741
Purchases of minerals in place	2,011,980		465,187		—
Revisions of previous quantity estimates	3,283		(151,748)		(273,781)
Accretion of discount	345,642		76,121		81,999
Changes in timing of estimated cash flows and other	(137,927)		(2,715)		(7,631)
End of year (1)	$	6,724,501	$	1,818,372	$	460,853

(1)At December 31, 2022, 2021 and 2020, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $1.6 billion, $711.2 million and $246.9 million, respectively.