Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT INFORMATION

v3.25.0.1
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.