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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating Revenues:        
Revenue $ 200,400 $ 275,266 $ 457,848 $ 563,030
Operating costs and expenses:        
Crude oil and natural gas production 33,726 32,798 69,288 63,069
Production and ad valorem taxes 12,391 16,596 27,543 30,998
Exploration and abandonments 1,109 167 1,373 665
Depletion, depreciation and amortization 101,226 127,693 210,551 258,543
Accretion of discount 256 242 500 481
General and administrative 5,671 4,735 12,016 9,420
Stock-based compensation 88 3,775 265 7,573
Total operating costs and expenses 154,467 186,006 321,536 370,749
Other expense 2,489 2,000 2,489 2,001
Income from operations 43,444 87,260 133,823 190,280
Interest and other income 361 2,400 1,171 4,792
Interest expense (36,412) (42,991) (73,400) (86,625)
Gain (loss) on derivative instruments, net 26,446 (2,702) 18,519 (55,745)
Income before income taxes 33,839 43,967 80,113 52,702
Provision for income taxes 7,663 14,250 17,602 16,547
Net income $ 26,176 $ 29,717 $ 62,511 $ 36,155
Earnings per share:        
Basic net income (in dollars per share) $ 0.19 $ 0.21 $ 0.46 $ 0.26
Diluted net income (in dollars per share) $ 0.19 $ 0.21 $ 0.45 $ 0.25
Weighted average shares outstanding:        
Basic (in shares) 123,930 125,341 123,922 125,341
Diluted (in shares) 126,095 129,248 126,169 129,265
Dividends declared per share (in dollars per share) $ 0.04 $ 0.04 $ 0.08 $ 0.08
Crude Oil Sales [Member]        
Operating Revenues:        
Revenue $ 196,723 $ 274,590 $ 443,147 $ 556,959
Natural Gas and NGL Sales [Member]        
Operating Revenues:        
Revenue $ 3,677 $ 676 $ 14,701 $ 6,071