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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Ridgemar Acquisition
Class A Common Stock
Class B Common Stock
Common Stock
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
Ridgemar Acquisition
Common Stock
Class B Common Stock
Series I Preferred Stock
Treasury Stock
Additional Paid-in Capital
Additional Paid-in Capital
Ridgemar Acquisition
Retained Earnings (Accumulated Deficit)
Noncontrolling Interest
Common Stock, Beginning balance (in shares) at Dec. 31, 2023           91,609,000   88,048,000            
Preferred Stock, Beginning balance (in shares) at Dec. 31, 2023                 1,000          
Treasury Stock, Beginning balance (in shares) at Dec. 31, 2023                   1,071,000        
Balance at beginning of period at Dec. 31, 2023 $ 1,734,510         $ 9   $ 9 $ 0 $ (17,143) $ 1,626,501   $ 95,447 $ 29,687
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (20,669)                       (24,168) 3,499
Distributions (8,037)                         (8,037)
Dividend to Class A common stock (12,649)                       (12,649)  
Equity-based compensation 14,832                   14,556     276
Change in deferred taxes related to basis differences associated with the 2024 Equity Transactions (30,713)                   (30,713)      
Change in equity associated with the 2024 Equity Transactions and the 2025 Class A Redemption (in shares)           13,800,000   (16,100,000)            
Change in equity associated with the 2024 Equity Transactions and the 2025 Class A Redemption 318,963         $ 2   $ (2)     318,963      
Common Stock, Ending balance (in shares) at Mar. 31, 2024           105,409,000   71,948,000            
Preferred Stock, Ending balance (in shares) at Mar. 31, 2024                 1,000          
Treasury Stock, Ending balance (in shares) at Mar. 31, 2024                   1,071,000        
Balance at end of period at Mar. 31, 2024 1,996,237         $ 11   $ 7 $ 0 $ (17,143) 1,929,307   58,630 25,425
Common Stock, Beginning balance (in shares) at Dec. 31, 2023           91,609,000   88,048,000            
Preferred Stock, Beginning balance (in shares) at Dec. 31, 2023                 1,000          
Treasury Stock, Beginning balance (in shares) at Dec. 31, 2023                   1,071,000        
Balance at beginning of period at Dec. 31, 2023 $ 1,734,510         $ 9   $ 9 $ 0 $ (17,143) 1,626,501   95,447 29,687
Common Stock, Ending balance (in shares) at Dec. 31, 2024     187,070,725 65,948,124   187,071,000   65,948,000            
Preferred Stock, Ending balance (in shares) at Dec. 31, 2024 1,000               1,000          
Treasury Stock, Ending balance (in shares) at Dec. 31, 2024     2,434,484             2,434,000        
Balance at end of period at Dec. 31, 2024 $ 3,139,631         $ 19   $ 7 $ 0 $ (32,430) 3,227,450   (64,751) 9,336
Common Stock, Beginning balance (in shares) at Mar. 31, 2024           105,409,000   71,948,000            
Preferred Stock, Beginning balance (in shares) at Mar. 31, 2024                 1,000          
Treasury Stock, Beginning balance (in shares) at Mar. 31, 2024                   1,071,000        
Balance at beginning of period at Mar. 31, 2024 1,996,237         $ 11   $ 7 $ 0 $ (17,143) 1,929,307   58,630 25,425
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) 35,729                       37,547 (1,818)
Distributions (2,512)                         (2,512)
Dividend to Class A common stock (13,382)                       (13,382)  
Equity-based compensation (in shares)           108,000                
Equity-based compensation 13,525                   13,578     (53)
Change in deferred taxes related to basis differences associated with the 2024 Equity Transactions (17,563)                   (17,563)      
Repurchase of redeemable noncontrolling interest 122                   122      
Change in equity associated with the 2024 Equity Transactions and the 2025 Class A Redemption (in shares)           6,000,000   (6,000,000)            
Change in equity associated with the 2024 Equity Transactions and the 2025 Class A Redemption 128,988                   128,988      
Common Stock, Ending balance (in shares) at Jun. 30, 2024           111,517,000   65,948,000            
Preferred Stock, Ending balance (in shares) at Jun. 30, 2024                 1,000          
Treasury Stock, Ending balance (in shares) at Jun. 30, 2024                   1,071,000        
Balance at end of period at Jun. 30, 2024 $ 2,141,144         $ 11   $ 7 $ 0 $ (17,143) 2,054,432   82,795 21,042
Common Stock, Beginning balance (in shares) at Dec. 31, 2024     187,070,725 65,948,124   187,071,000   65,948,000            
Preferred Stock, Beginning balance (in shares) at Dec. 31, 2024 1,000               1,000          
Treasury Stock, Beginning balance (in shares) at Dec. 31, 2024     2,434,484             2,434,000        
Balance at beginning of period at Dec. 31, 2024 $ 3,139,631         $ 19   $ 7 $ 0 $ (32,430) 3,227,450   (64,751) 9,336
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (161)                       (2,150) 1,989
Distributions (1,756)                         (1,756)
Dividend to Class A common stock (23,457)                   (23,457)      
Equity-based compensation 19,591                   19,398     193
Change in deferred taxes related to basis in OpCo (5,474)                   (5,474)      
Change in equity associated with the 2024 Equity Transactions and the 2025 Class A Redemption (in shares)           2,949,000   (2,949,000)            
Change in equity associated with the 2024 Equity Transactions and the 2025 Class A Redemption 34,096                   34,096      
Changes in equity associated with the Ridgemar Acquisition (in shares)             5,455,000              
Changes in equity associated with the Ridgemar Acquisition   $ 108,049         $ 1         $ 108,048    
Repurchases of Class A common stock (in shares)           (503,000)       (503,000)        
Repurchases of Class A common stock (5,312)                 $ (5,312)        
Common Stock, Ending balance (in shares) at Mar. 31, 2025           194,972,000   62,999,000            
Preferred Stock, Ending balance (in shares) at Mar. 31, 2025                 1,000          
Treasury Stock, Ending balance (in shares) at Mar. 31, 2025                   2,937,000        
Balance at end of period at Mar. 31, 2025 $ 3,265,207         $ 20   $ 7 $ 0 $ (37,742) 3,360,061   (66,901) 9,762
Common Stock, Beginning balance (in shares) at Dec. 31, 2024     187,070,725 65,948,124   187,071,000   65,948,000            
Preferred Stock, Beginning balance (in shares) at Dec. 31, 2024 1,000               1,000          
Treasury Stock, Beginning balance (in shares) at Dec. 31, 2024     2,434,484             2,434,000        
Balance at beginning of period at Dec. 31, 2024 $ 3,139,631         $ 19   $ 7 $ 0 $ (32,430) 3,227,450   (64,751) 9,336
Common Stock, Ending balance (in shares) at Jun. 30, 2025     254,615,178 0   254,615,000   0            
Preferred Stock, Ending balance (in shares) at Jun. 30, 2025 1,000               1,000          
Treasury Stock, Ending balance (in shares) at Jun. 30, 2025     6,541,933             6,542,000        
Balance at end of period at Jun. 30, 2025 $ 4,498,724         $ 26   $ 0 $ 0 $ (66,258) 4,498,240   55,766 10,950
Common Stock, Beginning balance (in shares) at Mar. 31, 2025           194,972,000   62,999,000            
Preferred Stock, Beginning balance (in shares) at Mar. 31, 2025                 1,000          
Treasury Stock, Beginning balance (in shares) at Mar. 31, 2025                   2,937,000        
Balance at beginning of period at Mar. 31, 2025 3,265,207         $ 20   $ 7 $ 0 $ (37,742) 3,360,061   (66,901) 9,762
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) 154,520                       153,221 1,299
Distributions (306)                         (306)
Dividend to Class A common stock (30,554)                       (30,554)  
Equity-based compensation (in shares)           217,000       32,000        
Equity-based compensation 92,912                 $ (358) 93,075     195
Change in deferred taxes related to basis in OpCo (131,397)                   (131,397)      
Changes in equity associated with the Ridgemar Acquisition (in shares)           62,999,000   (62,999,000)            
Changes in equity associated with the Ridgemar Acquisition 1,176,668         $ 6   $ (7)     1,176,669      
Cash distributions on behalf of former redeemable noncontrolling interest holders related to income taxes (165)                   (165)      
Repurchases of Class A common stock (in shares)         (3,573,000)         (3,573,000)        
Repurchases of Class A common stock (28,158)                 $ (28,158)        
Other $ (3)                   (3)      
Common Stock, Ending balance (in shares) at Jun. 30, 2025     254,615,178 0   254,615,000   0            
Preferred Stock, Ending balance (in shares) at Jun. 30, 2025 1,000               1,000          
Treasury Stock, Ending balance (in shares) at Jun. 30, 2025     6,541,933             6,542,000        
Balance at end of period at Jun. 30, 2025 $ 4,498,724         $ 26   $ 0 $ 0 $ (66,258) $ 4,498,240   $ 55,766 $ 10,950