SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT INFORMATION

The Company's assets and operations consist of one reportable segment with all revenues, operating expenses and assets attributable to this segment reflected in the consolidated financial statements. The Company derives its revenue from the sale of natural gas, oil and condensate and NGL produced from its oil and natural gas properties located in the United States.

The CODM of the Company is its Chief Executive Officer. The CODM assesses entity-wide operating results and performance and decides how to allocate resources based on net (loss) income, which is reported on the consolidated statement of operations.

The measure of segment assets is reported on the consolidated balance sheets as “total assets”.

The following table presents selected financial information with respect to the Company's one operating segment for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
Total revenues	$	958,131	$	1,791,702	$	1,331,112
Significant segment expenses
Lease operating expenses	70,112		68,648		64,790
Taxes other than income	29,737		33,717		60,139
Transportation, gathering, processing and compression	351,237		348,631		357,246
Depreciation, depletion, and amortization	325,723		319,715		267,761
Impairment of oil and gas properties	373,214		—		—
General and administrative	42,558		38,600		35,304
Interest expense	59,982		57,069		59,773
Other segment expenses(1)	23,031		(20,438)		(8,602)
Income tax benefit	(56,077)		(525,156)		—
Total significant segment expenses	1,219,517		320,786		836,411
Net (loss) income	$	(261,386)	$	1,470,916	$	494,701
Capital expenditures(2)	$	464,492	$	521,187	$	470,396

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(1)    Other segment expenses include “Restructuring costs”, “Accretion expense”, “Loss on debt extinguishment”, and “Other, net” from the consolidated statements of operations.

(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.