Quarterly report pursuant to Section 13 or 15(d)

Change in Accounting Principle - Schedule of Effects of the Change to the Successful Efforts Method in the Consolidated Statements of Operations (Details)

v3.23.2
Change in Accounting Principle - Schedule of Effects of the Change to the Successful Efforts Method in the Consolidated Statements of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Expenses:            
Exploration $ 1,882   $ 2,410 [1]   $ 4,114 $ 4,295 [1]
Depreciation, depletion and amortization 127,348   115,956 [1]   253,313 229,599 [1]
Impairment of oil and gas properties 406,898   0   406,898 0
General and administrative 29,768   20,175 [1]   57,566 47,232 [1]
Income (Loss) From Operations (222,756)   478,602 [1]   (38,566) 875,414 [1]
Other Expenses:            
Interest expense 47,239   46,995 [1]   93,545 94,091 [1]
Income (Loss) Before Income Taxes (264,108)   306,491 [1]   (94,165) 298,689 [1]
Income tax benefit 156,212   (3,240) [1]   206,907 (3,153) [1]
Net Income (Loss) $ (107,896) $ 220,638 $ 303,251 [1] $ (7,715) $ 112,742 $ 295,536 [1],[2]
Net Income (Loss) Per Common Share:            
Basic (in dollars per share) $ (1.74)   $ 4.92 [1]   $ 1.83 $ 4.80 [1]
Diluted (in dollars per share) $ (1.74)   $ 4.90 [1]   $ 1.82 $ 4.77 [1]
Under Full Cost            
Operating Expenses:            
Exploration $ 0   $ 0   $ 0 $ 0
Depreciation, depletion and amortization 135,135   109,409   258,035 212,388
Impairment of oil and gas properties 0       0  
General and administrative 17,149   10,909   34,290 28,030
Income (Loss) From Operations 190,856   496,825   391,001 916,122
Other Expenses:            
Interest expense 19,520   20,691   38,673 42,249
Income (Loss) Before Income Taxes 177,223   351,018   390,273 391,239
Income tax benefit 88,653   (3,009)   163,973 (3,493)
Net Income (Loss) $ 265,876   $ 348,009   $ 554,246 $ 387,746
Net Income (Loss) Per Common Share:            
Basic (in dollars per share) $ 4.30   $ 5.64   $ 8.98 $ 6.30
Diluted (in dollars per share) $ 4.30   $ 5.62   $ 8.95 $ 6.26
Changes            
Operating Expenses:            
Exploration $ 1,882   $ 2,410   $ 4,114 $ 4,295
Depreciation, depletion and amortization (7,787)   6,547   (4,722) 17,211
Impairment of oil and gas properties 406,898       406,898  
General and administrative 12,619   9,266   23,276 19,202
Income (Loss) From Operations (413,612)   (18,223)   (429,567) (40,708)
Other Expenses:            
Interest expense 27,719   26,304   54,872 51,842
Income (Loss) Before Income Taxes (441,331)   (44,527)   (484,438) (92,550)
Income tax benefit 67,559   (231)   42,934 340
Net Income (Loss) $ (373,772)   $ (44,758)   $ (441,504) $ (92,210)
[1] Financial information for the prior period has been recast to reflect retrospective application of the successful efforts method of accounting. See “Note 2 - Summary of Significant Accounting Policies” for additional information.
[2] Financial information for the prior period has been recast to reflect retrospective application of the successful efforts method of accounting. See “Note 2 - Summary of Significant Accounting Policies” for additional information