v3.25.4
CONSOLIDATED BALANCE SHEETS (in thousands, except share data) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 368 $ 0
Accounts receivable 331 361
Derivative assets 83 49
Prepaid expenses and other 29 25
Total current assets 811 435
Property and equipment (successful efforts method):    
Proved oil and gas properties 16,012 14,302
Accumulated depletion, depreciation, and amortization (8,793) (7,603)
Unproved oil and gas properties 460 765
Wells in progress 458 482
Other property and equipment, net of accumulated depreciation of $63 and $62, respectively 65 48
Total property and equipment, net 8,202 7,993
Noncurrent assets:    
Derivative assets 6 4
Other noncurrent assets 234 145
Total noncurrent assets 240 149
Total assets 9,253 8,577
Current liabilities:    
Accounts payable and accrued expenses 690 760
Senior Notes, net 419 0
Derivative liabilities 2 7
Other current liabilities 58 22
Total current liabilities 1,169 790
Noncurrent liabilities:    
Revolving credit facility 0 69
Senior Notes, net 2,296 2,708
Asset retirement obligations 150 145
Net deferred tax liabilities 724 545
Derivative liabilities 2 7
Other noncurrent liabilities 102 75
Total noncurrent liabilities 3,274 3,549
Commitments and contingencies (note 6)
Stockholders’ equity:    
Common stock, $0.01 par value - authorized: 200,000,000 shares; issued and outstanding: 114,630,905 and 114,461,934 shares, respectively 1 1
Additional paid-in capital 1,517 1,502
Retained earnings 3,291 2,735
Accumulated other comprehensive income (loss) 1 (1)
Total stockholders’ equity 4,810 4,237
Total liabilities and stockholders’ equity $ 9,253 $ 8,577

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