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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 75,600,000 $ 45,021,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 239,896,000 222,718,000
Amortization of deferred financing costs and long-term debt discount 3,925,000 4,275,000
Share-based compensation 17,558,000 14,474,000
Change in fair value of warrant liability 0 (2,950,000)
Loss on extinguishment of debt 0 1,470,000
Impairment of oil and gas properties 0 25,617,000
Commodity derivatives losses 2,872,000 3,250,000
Net cash received for commodity derivatives settlements 10,582,000 18,730,000
Interest rate derivative gains 0 (456,000)
Net cash paid for interest rate derivative settlements 0 403,000
Deferred tax benefit (11,984,000) (15,107,000)
Change in operating assets and liabilities:    
Accrued revenue and accounts receivable (11,288,000) 26,188,000
Prepaid assets 4,402,000 13,187,000
Other long-term assets 961,000 1,866,000
Accounts payable and accrued expenses 24,984,000 (3,131,000)
Operating lease liabilities and other long-term liabilities (777,000) (737,000)
Net cash provided by operating activities 356,731,000 354,818,000
Cash flows from investing activities:    
Purchases of oil and gas properties, net of post-close adjustments (190,834,000) (172,070,000)
Purchases of other property and equipment 0 (19,000)
Other, net (319,000) 0
Net cash used in investing activities (191,153,000) (172,089,000)
Cash flows from financing activities:    
Borrowings on credit facilities 329,000,000 588,500,000
Repayments on credit facilities (203,000,000) (497,500,000)
Repayments on 2026 Senior Notes 0 (33,750,000)
2026 Senior Notes issuance costs 0 (351,000)
Distributions to noncontrolling interest (91,512,000) (121,924,000)
Dividends paid to Class A stockholders (99,087,000) (121,555,000)
Dividend equivalent rights paid (943,000) (982,000)
Cash paid for taxes related to net settlement of share-based compensation awards (1,819,000) (3,432,000)
Net cash used in financing activities (172,266,000) (200,208,000)
Net change in cash and cash equivalents (6,688,000) (17,479,000)
Cash and cash equivalents, beginning of period 15,195,000 18,818,000
Cash and cash equivalents, end of period 8,507,000 1,339,000
Supplemental disclosure of non-cash transactions:    
Increase in current liabilities for additions to property and equipment: 42,000 224,000
Oil and gas properties acquired through issuance of Class C Common Stock and Sitio OpCo Partnership Units: 0 66,256,000
Supplemental disclosure of cash flow information:    
Cash paid for income taxes: 3,080,000 9,268,000
Cash paid for interest expense: 51,144,000 68,249,000
Sitio Revolving Credit Facility    
Cash flows from financing activities:    
Debt issuance costs 0 (9,214,000)
2028 Senior Notes    
Cash flows from financing activities:    
Debt issuance costs (144,000) 0
Class A Common Stock    
Cash flows from financing activities:    
Repurchases of Common Stock (82,619,000) 0
Class C Common Stock    
Cash flows from financing activities:    
Repurchases of Common Stock (22,142,000) 0
Commodity Contract    
Adjustments to reconcile net income to net cash provided by operating activities:    
Commodity derivatives losses 2,872,000 3,250,000
Interest Rate Contract    
Adjustments to reconcile net income to net cash provided by operating activities:    
Interest rate derivative gains $ 0 $ (456,000)