CONDENSED COMBINED STATEMENTS OF INCOME - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
| REVENUES | ||||
| Oil, natural gas, and related product sales, net | $ 90,194 | $ 55,717 | $ 263,263 | $ 142,632 |
| EXPENSES | ||||
| Lease operating expenses | 6,368 | 3,621 | 15,840 | 8,407 |
| Production taxes | 5,053 | 2,506 | 14,628 | 7,737 |
| Depletion and accretion expense | 39,868 | 15,794 | 70,529 | 45,798 |
| General and administrative | 1,776 | 1,764 | 4,880 | 4,978 |
| Total expenses | 53,065 | 23,685 | 105,877 | 66,920 |
| Net operating income (loss) | 37,129 | 32,032 | 157,386 | 75,712 |
| OTHER INCOME/(EXPENSE) | ||||
| Gain/(loss) on derivative contracts | 6,082 | (6,558) | (19,147) | (18,115) |
| Interest expense | 476 | 353 | 1,193 | 926 |
| Total other income (expense) | 5,606 | (6,911) | (20,340) | (19,041) |
| NET INCOME/(LOSS) | $ 42,735 | $ 25,121 | $ 137,046 | $ 56,671 |
| X | ||||||||||
- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets and amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. No definition available.
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Production (lifting) costs from oil and gas producing activities, including but not limited to lease operating expense, production and ad valorem taxes, and transportation expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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