\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net revenues (in thousands):<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil sales<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n524,386<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n262,767<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNatural gas sales(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n32,122<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n39,018<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNGL sales(2)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n59,760<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n45,492<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil and gas sales<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n616,268<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n347,277<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average sales prices:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil (per Bbl)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n74.38<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n89.17<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEffect of derivative settlements on average price (per Bbl)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3.65<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(12.82<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil including the effects of hedging (per Bbl)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n78.03<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n76.35<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage NYMEX price for oil (per Bbl)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n76.13<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n94.40<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil differential from NYMEX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.75<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(5.23<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNatural gas price excluding the effects of GP&T (per Mcf)(1)<\/sup><\/p>\n<\/td>\n| \n \n$<\/p>\n<\/td>\n | \n \n1.81<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3.93<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEffect of derivative settlements on average price (per Mcf)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.58<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.51<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNatural gas including the effects of hedging (per Mcf)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2.39<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage NYMEX price for natural gas (per MMBtu)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2.67<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n4.60<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNatural gas differential from NYMEX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.86<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.67<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNGL price excluding the effects of GP&T (per Bbl)(2)<\/sup><\/p>\n<\/td>\n| \n \n$<\/p>\n<\/td>\n | \n \n27.12<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n49.37<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net production:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil (MBbls)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,050<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,947<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNatural gas (MMcf)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n23,974<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9,925<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNGL (MBbls)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,798<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n921<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal (MBoe)(3)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,844<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,522<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average daily net production:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil (Bbls\/d)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n78,332<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n32,741<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNatural gas (Mcf\/d)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n266,374<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n110,280<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNGL (Bbls\/d)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n31,094<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,238<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal (Boe\/d)(3)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n153,822<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n61,359<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n \n_______________________<\/p>\n<\/td>\n<\/tr>\n | \n| \n (1)<\/sup><\/p>\n<\/td>\n| \n \nNatural gas sales include a portion of gathering, processing and transportation expenses (\u201cGP&T\u201d), that are reflected as a reduction to natural gas sales of $11.3 million for the three months ended March 31, 2023 and none for the three months ended March 31, 2022. Natural gas average sales price excludes $0.47 per Mcf of these GP&T charges for the three months ended March 31, 2023.<\/p>\n<\/td>\n<\/tr>\n | \n| \n (2)<\/sup><\/p>\n<\/td>\n| \n \nNGL sales include a portion of GP&T, that are reflected as a reduction to NGL sales of $16.1 million for the three months ended March 31, 2023 and none for the three months ended March 31, 2022. NGL average sales prices excludes $5.77 per Bbl of these GP&T charges for the three months ended March 31, 2023.<\/p>\n<\/td>\n<\/tr>\n | \n| \n (3)<\/sup><\/p>\n<\/td>\n| \n \nCalculated by converting natural gas to oil equivalent barrels at a ratio of six Mcf of natural gas to one Boe.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n Permian Resources Corporation<\/b><\/p>\n Operating Expenses<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating costs (in thousands):<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLease operating expenses<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n74,532<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n28,734<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSeverance and ad valorem taxes<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n48,509<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n25,051<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGathering, processing and transportation expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15,482<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n21,891<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating cost metrics:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLease operating expenses (per Boe)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n5.38<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n5.20<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSeverance and ad valorem taxes (% of revenue)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGathering, processing and transportation expenses (per Boe)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1.12<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3.96<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n Permian Resources Corporation<\/b><\/p>\n Consolidated Statements of Operations (unaudited)<\/b><\/p>\n (in thousands, except per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating revenues<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil and gas sales<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n616,268<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n347,277<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLease operating expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n74,532<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n28,734<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSeverance and ad valorem taxes<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n48,509<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n25,051<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGathering, processing and transportation expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15,482<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n21,891<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation, depletion and amortization<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n188,219<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n71,009<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGeneral and administrative expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n35,474<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n30,603<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMerger and integration expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,299<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nImpairment and abandonment expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n245<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,627<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nExploration and other expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,374<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,307<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal operating expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n380,134<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n182,222<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet gain (loss) on sale of long-lived assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n66<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n82<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome (loss) from operations<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n236,200<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n165,137<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther income (expense)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(36,777<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(13,154<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet gain (loss) on derivative instruments<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n54,512<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(129,523<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther income (expense)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n118<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal other income (expense)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,855<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(142,559<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome (loss) before income taxes<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n254,055<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n22,578<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome tax (expense) benefit<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(34,254<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(6,776<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n219,801<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15,802<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLess: Net (income) loss attributable to noncontrolling interest<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(117,681<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss) attributable to Class A Common Stock<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n102,120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n15,802<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome (loss) per share of Class A Common Stock:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nBasic<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.35<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.06<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDiluted<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.31<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.05<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nWeighted average Class A Common Stock outstanding:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nBasic<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n295,913<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDiluted<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n335,848<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n319,680<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n Permian Resources Corporation<\/b><\/p>\n Consolidated Balance Sheets (unaudited)<\/b><\/p>\n (in thousands, except share and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n March 31, 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n December 31, 2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n ASSETS<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCurrent assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCash and cash equivalents<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n25,593<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n59,545<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAccounts receivable, net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n301,581<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n282,846<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDerivative instruments<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n108,293<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n100,797<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPrepaid and other current assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,528<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n20,602<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal current assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n443,995<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n463,790<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProperty and Equipment<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOil and natural gas properties, successful efforts method<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnproved properties<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,433,639<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,424,744<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProved properties<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9,283,311<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,869,174<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAccumulated depreciation, depletion and amortization<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,600,676<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,419,692<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal oil and natural gas properties, net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,116,274<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,874,226<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther property and equipment, net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n16,294<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15,173<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal property and equipment, net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,132,568<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,889,399<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNoncurrent assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating lease right-of-use assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n70,289<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n64,792<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther noncurrent assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n76,306<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n74,611<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTOTAL ASSETS<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n8,723,158<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n8,492,592<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n LIABILITIES AND EQUITY<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCurrent liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAccounts payable and accrued expenses<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n619,828<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n562,156<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating lease liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n34,959<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n29,759<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDerivative instruments<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n344<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,998<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther current liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,867<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11,656<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal current liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n681,998<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n605,569<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNoncurrent liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLong-term debt, net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,042,916<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,140,798<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAsset retirement obligations<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n46,613<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n40,947<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDeferred income taxes<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n50,414<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,430<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating lease liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n41,570<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n41,341<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther noncurrent liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n50,961<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,211<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,914,472<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,836,296<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCommitments and contingencies (Note 12)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nShareholders\u2019 equity<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCommon stock, $0.0001 par value, 1,500,000,000 shares authorized:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nClass A: 321,723,961 shares issued and 313,958,894 shares outstanding at March 31, 2023 and 298,640,260 shares issued and 288,532,257 shares outstanding at December 31, 2022<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n32<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n30<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nClass C: 245,644,075 shares issued and outstanding at March 31, 2023 and 269,300,000 shares issued and outstanding at December 31, 2022<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n25<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n27<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdditional paid-in capital<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,891,528<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,698,465<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRetained earnings (accumulated deficit)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n323,677<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n237,226<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal shareholders’ equity<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,215,262<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,935,748<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNoncontrolling interest<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,593,424<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,720,548<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal equity<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,808,686<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,656,296<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTOTAL LIABILITIES AND EQUITY<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n8,723,158<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n8,492,592<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n Permian Resources Corporation<\/b><\/p>\n Consolidated Statements of Cash Flows (unaudited)<\/b><\/p>\n (in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flows from operating activities:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss)<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n219,801<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n15,802<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjustments to reconcile net income (loss) to net cash provided by operating activities:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation, depletion and amortization<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n188,219<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n71,009<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStock-based compensation expense – equity awards<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,871<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,545<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStock-based compensation expense – liability awards<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,720<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nImpairment and abandonment expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n245<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,627<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDeferred tax expense (benefit)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33,454<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,776<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet (gain) loss on sale of long-lived assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(66<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(82<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNon-cash portion of derivative (gain) loss<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(14,777<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n86,645<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAmortization of debt issuance costs and debt discount<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,796<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,492<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nChanges in operating assets and liabilities:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Increase) decrease in accounts receivable<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,503<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(53,824<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Increase) decrease in prepaid and other assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,016<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(415<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncrease (decrease) in accounts payable and other liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(6,811<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,825<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet cash provided by operating activities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n438,213<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n160,120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flows from investing activities:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisition of oil and natural gas properties, net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(100,755<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,928<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDrilling and development capital expenditures<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(315,285<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(81,156<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPurchases of other property and equipment<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,204<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,052<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nContingent considerations received related to divestiture<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n60,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProceeds from sales of oil and natural gas properties<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n65,116<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n48<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet cash used in investing activities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(292,128<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(84,088<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flows from financing activities:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProceeds from borrowings under revolving credit facility<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n160,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n135,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRepayment of borrowings under revolving credit facility<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(260,000<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(160,000<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDebt issuance costs<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8,530<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProceeds from exercise of stock options<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n231<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nShare repurchase<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(29,418<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDividends paid<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(15,192<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDistributions paid to noncontrolling interest owners<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(13,324<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nClass A Common Stock repurchased from employees for taxes due upon share vestings<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(32,160<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,259<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet cash provided by (used in) financing activities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(189,863<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(34,788<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet increase (decrease) in cash, cash equivalents and restricted cash<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(43,778<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n41,244<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCash, cash equivalents and restricted cash, beginning of period<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n69,932<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9,935<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash, cash equivalents and restricted cash, end of period<\/b><\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n26,154<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n51,179<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n \nReconciliation of cash, cash equivalents and restricted cash presented on the Consolidated Statements of Cash Flows for the periods presented:<\/p>\n<\/td>\n<\/tr>\n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCash and cash equivalents<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n25,593<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n50,624<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRestricted cash<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n561<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n555<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal cash, cash equivalents and restricted cash<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n26,154<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n51,179<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-GAAP Financial Measures<\/b><\/p>\n \nIn addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d), our earnings release contains non-GAAP financial measures as described below.<\/p>\n Adjusted EBITDAX<\/i><\/b><\/p>\n \nAdjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDAX as net income attributable to Class A Common Stock before net income\/loss attributable to noncontrolling interest, interest expense, income taxes, depreciation, depletion and amortization, impairment and abandonment expense, non-cash gains or losses on derivatives, stock-based compensation (not cash-settled), exploration and other expenses, merger and integration expense, gain\/loss from the sale of long-lived assets and non-recurring items. Adjusted EBITDAX is not a measure of net income as determined by GAAP.<\/p>\n \nOur management believes Adjusted EBITDAX is useful as it allows them to more effectively evaluate our operating performance and compare the results of our operations from period to period and against our peers, without regard to our financing methods or capital structure. We exclude the items listed above from net income in arriving at Adjusted EBITDAX because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDAX should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of our operating performance or liquidity. Certain items excluded from Adjusted EBITDAX are significant components in understanding and assessing a company\u2019s financial performance, such as a company\u2019s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDAX. Our presentation of Adjusted EBITDAX should not be construed as an inference that our results will be unaffected by unusual or nonrecurring items. Our computations of Adjusted EBITDAX may not be comparable to other similarly titled measures of other companies.<\/p>\n \nThe following table presents a reconciliation of Adjusted EBITDAX to net income, which is the most directly comparable financial measure calculated and presented in accordance with GAAP:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (in thousands)<\/b><\/p>\n<\/td>\n | \n 3\/31\/2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 12\/31\/2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 9\/30\/2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6\/30\/2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 3\/31\/2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Adjusted EBITDAX reconciliation to net income:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss) attributable to Class A Common Stock<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n102,120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n83,050<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n224,359<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n191,826<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n15,802<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss) attributable to noncontrolling interest<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n117,681<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n115,658<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n119,145<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n36,777<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n39,358<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n28,807<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n14,326<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,154<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome tax expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n34,254<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n40,860<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n31,169<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n41,487<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,776<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation, depletion and amortization<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n188,219<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n182,052<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n109,500<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n82,117<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n71,009<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nImpairment and abandonment expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n245<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n244<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n498<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n506<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,627<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNon-cash derivative (gain) loss<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(14,777<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n88,635<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(213,503<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(39,514<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n86,645<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStock-based compensation expense(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n16,707<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n54,342<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18,896<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,487<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18,834<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nExploration and other expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,374<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,765<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,352<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,954<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,307<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMerger and integration expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,299<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,469<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n59,270<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,685<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Gain) loss on sale of long-lived assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(66<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(13<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,406<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(82<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted EBITDAX<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n498,833<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n621,420<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n380,496<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n297,306<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n217,072<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n \n_______________________<\/p>\n<\/td>\n<\/tr>\n | \n| \n (1)<\/sup><\/p>\n<\/td>\n| \n \nIncludes stock-based compensation for equity awards and also for cash-based liability awards that have not yet been settled in cash, both of which relate to general and administrative employees only. Stock-based compensation amounts for geographical and geophysical personnel are included within the Exploration and other expenses line item.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Net Debt-to-LQA EBITDAX<\/i><\/b><\/p>\n \nNet debt-to-LQA EBITDAX is a non-GAAP financial measure. We define net debt as long-term debt, net, plus unamortized debt discount and debt issuance costs on our senior notes minus cash and cash equivalents.<\/p>\n \nWe define net debt-to-LQA EBITDAX as net debt (defined above) divided by Adjusted EBITDAX (defined and reconciled in the section above) for the three months ended March 31, 2023, on an annualized basis. We refer to this metric to show trends that investors may find useful in understanding our ability to service our debt. This metric is widely used by professional research analysts, including credit analysts, in the valuation and comparison of companies in the oil and gas exploration and production industry. The following table presents a reconciliation of net debt to long-term debt, net and the calculation of net debt-to-LQA EBITDAX for the period presented:<\/p>\n \n\n| \n (in thousands)<\/b><\/p>\n<\/td>\n | \n March 31, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nLong-term debt, net<\/p>\n<\/td>\n | \n \n2,042,916<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnamortized debt discount and debt issuance costs on senior notes<\/p>\n<\/td>\n | \n \n57,883<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLong-term debt<\/p>\n<\/td>\n | \n \n2,100,799<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLess: cash and cash equivalents<\/p>\n<\/td>\n | \n \n(25,593<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet debt (Non-GAAP)<\/p>\n<\/td>\n | \n \n2,075,206<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLQA EBITDAX(1)<\/sup><\/p>\n<\/td>\n| \n \n1,995,332<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net debt-to-LQA EBITDAX<\/b><\/p>\n<\/td>\n | \n \n1.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n (1)<\/sup><\/p>\n<\/td>\n| \n \nRepresents adjusted EBITDAX (defined and reconciled in the section above) for the three months ended March 31, 2023, on an annualized basis.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Adjusted Shares<\/i><\/b><\/p>\n \nAdjusted basic and diluted weighted average shares outstanding (“Adjusted Basic and Diluted Shares”) are non-GAAP financial measures defined as basic and diluted weighted average shares outstanding adjusted to reflect the weighted average shares of our Class C Common Stock outstanding during the period.<\/p>\n \nOur Adjusted Basic and Diluted Shares provide a comparable per share measurement when presenting results such as adjusted free cash flow and adjusted net income that include the interests of both net income attributable to Class A Common Stock and the net income attributable to our noncontrolling interest. Adjusted Basic and Diluted Shares are used in calculating several metrics that we use as supplemental financial measurements in the evaluation of our business.<\/p>\n \nThe following table presents a reconciliation of Adjusted Basic and Diluted Shares to basic and diluted weighted average shares outstanding, which are the most directly comparable financial measure calculated and presented in accordance with GAAP:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (in thousands)<\/b><\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nBasic weighted average shares of Class A Common Stock outstanding<\/p>\n<\/td>\n | \n \n295,913<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nWeighted average shares of Class C Common Stock<\/p>\n<\/td>\n | \n \n263,369<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted basic weighted average shares outstanding<\/b><\/p>\n<\/td>\n | \n \n559,282<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nBasic weighted average shares of Class A Common Stock outstanding<\/p>\n<\/td>\n | \n \n295,913<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdd: Dilutive effects of Convertible Senior Notes<\/p>\n<\/td>\n | \n \n27,314<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n27,074<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdd: Dilutive effects of equity awards and ESPP shares<\/p>\n<\/td>\n | \n \n12,621<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,755<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDiluted weighted average shares of Class A Common Stock outstanding<\/p>\n<\/td>\n | \n \n335,848<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n319,680<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nWeighted average shares of Class C Common Stock<\/p>\n<\/td>\n | \n \n263,369<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted diluted weighted average shares outstanding<\/b><\/p>\n<\/td>\n | \n \n599,217<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n319,680<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Free Cash Flow and Adjusted Free Cash Flow<\/i><\/b><\/p>\n \nFree cash flow and adjusted free cash flow are supplemental non-GAAP financial measures that are used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define free cash flow as net cash provided by operating activities before changes in working capital, less capital expenditures incurred\/paid and adjusted free cash flow as free cash flow before non-recurring merger and integration expense.<\/p>\n \nOur management believes free cash flow and adjusted free cash flow are useful indicators of the Company\u2019s ability to internally fund its exploration and development activities, to service its existing level of indebtedness or incur additional debt, without regard to the timing of settlement of either operating assets and liabilities or accounts payable related to capital expenditures. The Company believes that these measures, as so adjusted, present meaningful indicators of the Company\u2019s actual sources and uses of capital associated with its operations conducted during the applicable period. Our computations of free cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies. Free cash flow and adjusted free cash flow should not be considered as alternatives to, or more meaningful than, net cash provided by operating activities as determined in accordance with GAAP or as indicators of our operating performance or liquidity.<\/p>\n \nFree cash flow and adjusted free cash flow are not financial measures that are determined in accordance with GAAP. Accordingly, the following table presents a reconciliation of free cash flow and adjusted free cash flow to net cash provided by operating activities, which is the most directly comparable financial measure calculated and presented in accordance with GAAP:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Accrued Capital Expenditure(1)<\/sup><\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Cash Capital Expenditure(2)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (in thousands, except per share data)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet cash provided by operating activities<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n438,213<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n160,120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n438,213<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n160,120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nChanges in working capital:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAccounts receivable<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,503<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n53,824<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,503<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n53,824<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPrepaid and other assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,016<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n415<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,016<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n415<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAccounts payable and other liabilities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,811<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(10,825<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,811<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(10,825<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating cash flow before working capital changes<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n447,543<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n203,534<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n447,543<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n203,534<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLess: total capital expenditures incurred\/paid<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(359,800<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(114,700<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(315,285<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(81,156<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nFree cash flow<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n87,743<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n88,834<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n132,258<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n122,378<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMerger and integration expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,299<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,299<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted free cash flow<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n101,042<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n88,834<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n145,557<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n122,378<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted basic weighted average shares outstanding<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n559,282<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n559,282<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted free cash flow per adjusted basic share<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.18<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.31<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.26<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.43<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| _________________________________<\/td>\n<\/tr>\n | \n| \n (1)<\/sup><\/p>\n<\/td>\n| \n \nUtilizes activity-based capital expenditures incurred during the period.<\/p>\n<\/td>\n<\/tr>\n | \n| \n (2)<\/sup><\/p>\n<\/td>\n| \n \nUtilizes cash capital expenditure payments during the period.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Adjusted Net Income<\/i><\/b><\/p>\n \nAdjusted net income is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define adjusted net income as net income attributable to Class A Common Stock plus net income\/loss attributable to noncontrolling interest adjusted for non-cash gains or losses on derivatives, merger and integration expense, impairment and abandonment expense, gain\/loss from the sale of long-lived assets and the related income tax adjustments for these items. Adjusted net income is not a measure of net income as determined by GAAP.<\/p>\n \nOur management believes adjusted net income is useful as it allows them to more effectively evaluate our operating performance and compare the results of our operations from period to period and against our peers by excluding certain non-cash items that can vary significantly. Adjusted net income should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of our operating performance or liquidity. Our presentation of adjusted net income should not be construed as an inference that our results will be unaffected by unusual or nonrecurring items. Our computations of adjusted net income may not be comparable to other similarly titled measures of other companies.<\/p>\n \nAdjusted net income is not a financial measure that is determined in accordance with GAAP. Accordingly, the following table presents a reconciliation of adjusted net income to net income, which is the most directly comparable financial measure calculated and presented in accordance with GAAP:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (in thousands, except per share data)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss) attributable to Class A Common Stock<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n102,120<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n15,802<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet income (loss) attributable to noncontrolling interest<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n117,681<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNon-cash derivative (gain) loss<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(14,777<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n86,645<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMerger and integration expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,299<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nImpairment and abandonment expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n245<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,627<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Gain) loss on sale of long-lived assets<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(66<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(82<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted net income excluding above items<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n218,502<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n104,992<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome tax expense of the above items(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n(26,186<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(20,068<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted Net Income<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n192,316<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n84,924<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted basic weighted average shares outstanding<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n559,282<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n284,851<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted net income per adjusted basic share<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.34<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.30<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n \n_______________________<\/p>\n<\/td>\n<\/tr>\n | \n| \n (1)<\/sup><\/p>\n<\/td>\n| \n \nIncome tax expense for adjustments made to adjusted net income is calculated using PR’s federal and state-apportioned statutory tax rate of 22.5%.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe following table summarizes the approximate volumes and average contract prices of the hedge contracts the Company had in place as of April 30, 2023. There were no additional contracts entered into through the date of this filing:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Period<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume (Bbls)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume<\/b><\/p>\n (Bbls\/d)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Wtd. Avg. Crude Price ($\/Bbl)(1)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCrude oil swaps<\/p>\n<\/td>\n | \n \nApril 2023 – June 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,592,500<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,500<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$87.64<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2023 – September 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,748,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84.93<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2023 – December 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,748,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n83.04<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJanuary 2024 – March 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,547,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n76.65<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nApril 2024 – June 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,547,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n75.83<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2024 – September 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,564,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n75.06<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2024 – December 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,564,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n74.40<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJanuary 2025 – March 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n450,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.00<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nApril 2025 – June 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n455,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.00<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2025 – September 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n460,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.00<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2025 – December 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n460,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.00<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Period<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume (Bbls)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume<\/b><\/p>\n (Bbls\/d)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Wtd. Avg. Collar Price Ranges ($\/Bbl)(2)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCrude oil collars<\/p>\n<\/td>\n | \n \nApril 2023 – June 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n819,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$75.56 – $91.15<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2023 – September 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n644,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n76.43 – 92.70<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2023 – December 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n644,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n76.43 – 92.70<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Period<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume (Bbls)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume<\/b><\/p>\n (Bbls\/d)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Wtd. Avg. Differential ($\/Bbl)(3)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCrude oil basis differential swaps<\/p>\n<\/td>\n | \n \nApril 2023 – June 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n739,499<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,126<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$0.55<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2023 – September 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,025,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11,141<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.63<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2023 – December 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,025,002<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11,141<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.63<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJanuary 2024 – March 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,092,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.66<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nApril 2024 – June 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,092,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.66<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2024 – September 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,104,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.66<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2024 – December 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,104,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.66<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJanuary 2025 – March 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n450,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.95<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nApril 2025 – June 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n455,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.95<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2025 – September 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n460,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.95<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2025 – December 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n460,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.95<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Period<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume (Bbls)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Volume<\/b><\/p>\n (Bbls\/d)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Wtd. Avg. Differential<\/b><\/p>\n ($\/Bbl)(4)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCrude oil roll differential swaps<\/p>\n<\/td>\n | \n \nApril 2023 – June 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,365,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$1.25<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2023 – September 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,656,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.16<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2023 – December 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,656,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.16<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJanuary 2024 – March 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,092,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.68<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nApril 2024 – June 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,092,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.67<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2024 – September 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,104,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.66<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2024 – December 2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,104,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.66<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJanuary 2025 – March 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n180,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.37<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nApril 2025 – June 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n182,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.37<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nJuly 2025 – September 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n184,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.37<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nOctober 2025 – December 2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n184,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.37<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| _______________________<\/td>\n<\/tr>\n | \n| \n (1)<\/sup><\/p>\n<\/td>\n| \n \nThese crude oil swap transactions are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual swap price for the volumes stipulated.<\/p>\n<\/td>\n<\/tr>\n | \n| \n (2)<\/sup><\/p>\n<\/td>\n| \n \nThese crude oil collars are settled based on the NYMEX WTI index price on each trading day within the specified monthly settlement period versus the contractual floor and ceiling prices for the volumes stipulated.<\/p>\n<\/td>\n<\/tr>\n | \n| \n (3)<\/sup><\/p>\n<\/td>\n| \n \nThese crude oil basis swap transactions are settled based on the difference between the arithmetic average of ARGUS MIDLAND WTI and ARGUS WTI CUSHING indices, during each applicable monthly settlement period.<\/p>\n<\/td>\n<\/tr>\n | \n| \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |