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SUPPLEMENTAL INFORMATION ON OIL AND GAS EXPLORATION AND PRODUCTION ACTIVITIES (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2024
Extractive Industries [Abstract]  
Schedule of Capitalized Costs Related to Oil and Gas Producing Activities
Capitalized Costs Related to Oil and Gas Producing Activities (in thousands)
Year Ended December 31, 2024Year Ended December 31, 2023
Proved properties$3,349,805 $2,904,519 
Unproved properties221,650 204,233 
Total oil and natural gas properties3,571,455 3,108,752 
Accumulated depletion and amortization(1,559,546)(862,253)
Net capitalized costs$2,011,909 $2,246,499 
Schedule of Cost Incurred in Oil and Gas Property Acquisition and Development Activities
Costs Incurred in Oil and Gas Property Acquisition, Development and Exploratory Activities (in thousands)
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
Acquisition$89,646 $93,905 $29,675 
Development373,284 419,431 441,458 
Exploratory— — — 
Total$462,930 $513,336 $471,133 
Schedule of Results of Operations for Oil and Gas Production Activities The results of operations exclude general office overhead and interest expense attributable to oil and gas production.
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
Revenues$928,604 $1,051,383 $2,330,859 
Production costs(451,086)(450,996)(482,175)
Depletion(324,078)(318,473)(266,449)
Impairment(373,214)— — 
Income tax benefit56,077 525,156 — 
Results of operations from producing activities$(163,697)$807,070 $1,582,235 
Depletion per Mcf of gas equivalent (Mcfe)$0.84 $0.83 $0.74 
Schedule of Oil and Gas Reserves These estimates are reviewed annually and revised, either upward or downward, as warranted by additional performance data.
Oil (MMBbl)Natural Gas (Bcf)NGL (MMBbl)Natural Gas Equivalent (Bcfe)
Proved Reserves
December 31, 202116 3,478 54 3,898 
Purchases of reserves— — — — 
Extensions and discoveries3 391 5 439 
Sales of reserves— — — — 
Revisions of prior reserve estimates— 66 — 70 
Current production(2)(322)(4)(359)
December 31, 202218 3,612 54 4,048 
Purchases of reserves— — — — 
Extensions and discoveries6 875 14 996 
Sales of reserves— — — — 
Revisions of prior reserve estimates(4)(411)(1)(445)
Current production(1)(350)(4)(385)
December 31, 202319 3,725 63 4,214 
Purchases of reserves— — — — 
Extensions and discoveries5 398 20 547 
Sales of reserves— — — — 
Revisions of prior reserve estimates— (413)1 (406)
Current production(1)(354)(4)(386)
December 31, 202422 3,356 80 3,969 
Proved developed reserves
December 31, 20218 1,928 31 2,165 
December 31, 20229 2,034 34 2,295 
December 31, 20236 1,980 31 2,203 
December 31, 20247 1,879 31 2,109 
Proved undeveloped reserves
December 31, 20218 1,550 22 1,733 
December 31, 20229 1,578 20 1,752 
December 31, 202312 1,746 32 2,011 
December 31, 202415 1,478 49 1,861 
Totals may not sum or recalculate due to rounding.
Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
The following table summarizes estimated future net cash flows from natural gas and crude oil reserves (in millions):
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
Future cash flows$10,474 $12,338 $26,677 
Future development and abandonment costs(1,498)(1,625)(1,588)
Future production costs(5,268)(5,641)(5,872)
Future production taxes(212)(303)(553)
Future income taxes(23)(63)(2,609)
Future net cash flows3,473 4,706 16,055 
10% discount to reflect timing of cash flows(1,726)(2,323)(7,776)
Standardized measure of discounted future net cash flows$1,747 $2,383 $8,279 
Totals may not sum or recalculate due to rounding.
Schedule of Future Costs to Settle Asset Retirement Obligations The following table summarizes the total of all future costs to settle asset retirement obligations that are included in future development and abandonment costs above (in millions):
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
Future asset retirement obligations$240 $229 $222 
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
The principal source of change in the standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below (in millions):
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
Sales and transfers of oil and gas produced, net of production costs$(478)$(600)$(1,849)
Net changes in prices, production costs, and development costs(910)(7,181)5,130 
Acquisition of oil and gas reserves in place— — — 
Extensions and discoveries368 581 941 
Previously estimated development costs incurred during the period211 263 204 
Revisions of previous quantity estimates, less related production costs(21)(278)154 
Sales of oil and gas reserves in place— — (1)
Accretion of discount238 828 414 
Net changes in income taxes16 1,219 (1,067)
Change in production rates and other(60)(728)215 
Total change in standardized measure of discounted future net cash flows$(636)$(5,896)$4,141