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Natural Gas and Oil Exploration, Development and Production Activities (Tables)
6 Months Ended
Jun. 30, 2025
Extractive Industries [Abstract]  
Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (a)

 

 

June 30,
2025

 

 

December 31,
2024

 

 

(in thousands)

 

Natural gas properties:

 

 

 

 

 

Properties subject to depletion

$

11,277,340

 

 

$

11,058,771

 

Unproved properties

 

833,743

 

 

 

819,656

 

Total

 

12,111,083

 

 

 

11,878,427

 

Accumulated depletion and depreciation

 

(5,575,986

)

 

 

(5,456,727

)

Net capitalized costs

$

6,535,097

 

 

$

6,421,700

 

(a)
Includes capitalized asset retirement costs and the associated accumulated amortization.
Costs Incurred for Property Acquisition, Exploration and Development

Costs Incurred for Property Acquisition, Exploration and Development (b)

 

 

 

 

Six Months Ended
June 30, 2025

 

 

Year Ended
December 31, 2024

 

 

(in thousands)

 

Acquisitions:

 

 

 

 

 

Acreage purchases

$

27,542

 

 

$

57,869

 

Development

 

268,507

 

 

 

577,093

 

Exploration:

 

 

 

 

 

Drilling

 

783

 

 

 

12,569

 

Expense

 

13,606

 

 

 

25,489

 

Stock-based compensation expense

 

713

 

 

 

1,354

 

Gas gathering facilities:

 

 

 

 

 

Development

 

3,451

 

 

 

4,336

 

Subtotal

 

314,602

 

 

 

678,710

 

Asset retirement obligations

 

2,327

 

 

 

13,845

 

Total costs incurred

$

316,929

 

 

$

692,555

 

(b) Includes costs incurred whether capitalized or expensed.