2024 Q1 Form 10-K Financial Statement

#000153983824000019 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.227B $2.228B $8.412B
YoY Change 15.69% 9.75% -12.77%
Cost Of Revenue $568.0M $488.0M $1.795B
YoY Change 36.87% 41.86% 18.01%
Gross Profit $1.659B $1.740B $6.617B
YoY Change 9.87% 3.2% -18.53%
Gross Profit Margin 74.49% 78.1% 78.66%
Selling, General & Admin $46.00M $39.00M $150.0M
YoY Change 15.0% 11.43% 4.17%
% of Gross Profit 2.77% 2.24% 2.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $469.0M $469.0M $1.746B
YoY Change 16.38% 28.49% 29.91%
% of Gross Profit 28.27% 26.95% 26.39%
Operating Expenses $46.00M $535.0M $150.0M
YoY Change 15.0% 25.29% 4.17%
Operating Profit $1.118B $1.205B $4.570B
YoY Change 9.07% -4.29% -29.78%
Interest Expense -$46.00M $71.00M $175.0M
YoY Change 0.0% -5.33% 10.06%
% of Operating Profit -4.11% 5.89% 3.83%
Other Income/Expense, Net -$86.00M -$1.000M -$322.0M
YoY Change 19.44% -50.0% -58.29%
Pretax Income $1.032B $1.275B $4.248B
YoY Change 8.29% -1.09% -25.94%
Income Tax $223.0M $264.0M $912.0M
% Of Pretax Income 21.61% 20.71% 21.47%
Net Earnings $768.0M $955.0M $3.143B
YoY Change 7.87% -4.4% -28.34%
Net Earnings / Revenue 34.49% 42.86% 37.36%
Basic Earnings Per Share $4.28 $17.34
Diluted Earnings Per Share $4.28 $5.34 $17.34
COMMON SHARES
Basic Shares Outstanding 178.4M shares 179.0M shares 180.0M shares
Diluted Shares Outstanding 178.5M shares 180.0M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $896.0M $582.0M $582.0M
YoY Change 1847.83% 270.7% 270.7%
Cash & Equivalents $896.0M $582.0M $582.0M
Short-Term Investments
Other Short-Term Assets $53.00M $129.0M $129.0M
YoY Change -48.54% -20.37% -20.37%
Inventory $57.00M $63.00M $63.00M
Prepaid Expenses
Receivables $734.0M $654.0M $846.0M
Other Receivables $0.00 $1.000M $1.000M
Total Short-Term Assets $1.948B $1.621B $1.621B
YoY Change 67.93% 16.45% 16.45%
LONG-TERM ASSETS
Property, Plant & Equipment $27.02B $26.67B $26.76B
YoY Change 5.92% 12.27% 12.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $529.0M $529.0M $529.0M
YoY Change -7.68% -6.54% -6.54%
Other Assets $38.00M $47.00M $93.00M
YoY Change -11.63% 11.9% -77.09%
Total Long-Term Assets $27.74B $27.38B $27.38B
YoY Change 4.97% 10.33% 10.33%
TOTAL ASSETS
Total Short-Term Assets $1.948B $1.621B $1.621B
Total Long-Term Assets $27.74B $27.38B $27.38B
Total Assets $29.69B $29.00B $29.00B
YoY Change 7.62% 10.65% 10.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $243.0M $261.0M $261.0M
YoY Change 0.83% 105.51% 105.51%
Accrued Expenses $907.0M $968.0M $914.0M
YoY Change 11.15% 10.13% 8.94%
Deferred Revenue $732.0M $764.0M
YoY Change 2.23% 23.42%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $2.118B $2.108B $2.108B
YoY Change 12.3% 22.84% 22.84%
LONG-TERM LIABILITIES
Long-Term Debt $6.629B $6.641B $6.641B
YoY Change -4.62% 6.46% 6.46%
Other Long-Term Liabilities $12.00M $12.00M $373.0M
YoY Change -7.69% 0.0% -24.8%
Total Long-Term Liabilities $6.641B $6.653B $7.014B
YoY Change -4.62% 6.45% 4.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.118B $2.108B $2.108B
Total Long-Term Liabilities $6.641B $6.653B $7.014B
Total Liabilities $11.67B $11.57B $12.38B
YoY Change 1.79% 10.0% 10.5%
SHAREHOLDERS EQUITY
Retained Earnings $2.705B $2.489B
YoY Change 179.73% 210.74%
Common Stock $14.25B $14.14B
YoY Change -1.73% -0.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.95B $16.63B $16.63B
YoY Change
Total Liabilities & Shareholders Equity $29.69B $29.00B $29.00B
YoY Change 7.62% 10.65% 10.65%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $768.0M $955.0M $3.143B
YoY Change 7.87% -4.4% -28.34%
Depreciation, Depletion And Amortization $469.0M $469.0M $1.746B
YoY Change 16.38% 28.49% 29.91%
Cash From Operating Activities $1.334B $1.624B $5.920B
YoY Change -6.39% 12.7% -6.4%
INVESTING ACTIVITIES
Capital Expenditures $762.0M $1.469B $4.714B
YoY Change -50.42% -0.74% 34.49%
Acquisitions
YoY Change
Other Investing Activities $1.000M $5.000M $16.00M
YoY Change -83.33% -95.1% -63.64%
Cash From Investing Activities -$751.0M -$1.464B -$3.323B
YoY Change -41.28% 6.24% -0.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $840.0M
YoY Change -23.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$269.0M -405.0M -$2.176B
YoY Change 4.67% -704.48% -37.88%
NET CHANGE
Cash From Operating Activities $1.334B 1.624B $5.920B
Cash From Investing Activities -$751.0M -1.464B -$3.323B
Cash From Financing Activities -$269.0M -405.0M -$2.176B
Net Change In Cash $314.0M -245.0M $421.0M
YoY Change -382.88% -288.46% -182.87%
FREE CASH FLOW
Cash From Operating Activities $1.334B $1.624B $5.920B
Capital Expenditures $762.0M $1.469B $4.714B
Free Cash Flow $572.0M $155.0M $1.206B
YoY Change -610.71% -497.44% -57.23%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. These reclassifications had an immaterial effect on the previously reported total assets, total liabilities, stockholders’ equity, results of operations or cash flows.</span></div>
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts included in or affecting the Company’s consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company’s disclosure of contingent assets and liabilities as of the date of the consolidated financial statements. Actual results could differ from those estimates.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Making accurate estimates and assumptions is particularly difficult in the oil and natural gas industry, given the challenges resulting from volatility in oil and natural gas prices. For instance, war in Ukraine and Israel-Hamas war, rising interest rates, global supply chain disruptions, concerns about a potential economic downturn or recession, recent measures to combat persistent inflation and instability in the financial sector have contributed to recent economic and pricing volatility. The financial results of companies in the oil and natural gas industry have been impacted materially as a result of these events and changing market conditions. Such circumstances generally increase the uncertainty in the Company’s accounting estimates, particularly those involving financial forecasts.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, fair value estimates of derivative instruments, the fair value determination of acquired assets and liabilities assumed, and estimates of income taxes, including deferred tax valuation allowances.</span></div>
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CY2023Q4 fang Oil And Gas Delivery Commitment Quantity Committed Per Day
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CY2021 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
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CY2023 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
1962000000 usd
CY2022 us-gaap Costs Incurred Development Costs
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566000000 usd
CY2021 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
516000000 usd
CY2023 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
768000000 usd
CY2022 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
1698000000 usd
CY2021 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
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CostsIncurredAcquisitionOfOilAndGasProperties
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CostsIncurredAcquisitionOfOilAndGasProperties
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CY2021 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties
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CY2021 us-gaap Results Of Operations Production Or Lifting Costs
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CY2023 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
3860000000 usd
CY2022 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
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5344000000 usd
CY2021 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
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3416000000 usd
CY2023Q4 fang Classified As Proved Developed Non Producing Reserves
ClassifiedAsProvedDevelopedNonProducingReserves
0 reserve
CY2020Q4 srt Proved Developed And Undeveloped Reserve Net Energy
ProvedDevelopedAndUndevelopedReserveNetEnergy
1316441000 mboe
CY2021 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
518722000 mboe
CY2021 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
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CY2021 srt Proved Developed And Undeveloped Reserve Purchase Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservePurchaseOfMineralInPlaceEnergy
285310000 mboe
CY2021 srt Proved Developed And Undeveloped Reserves Sale Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservesSaleOfMineralInPlaceEnergy
59775000 mboe
CY2021 srt Proved Developed And Undeveloped Reserve Production Energy
ProvedDevelopedAndUndevelopedReserveProductionEnergy
137002000 mboe
CY2021Q4 srt Proved Developed And Undeveloped Reserve Net Energy
ProvedDevelopedAndUndevelopedReserveNetEnergy
1788991000 mboe
CY2022 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
334495000 mboe
CY2022 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
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CY2022 srt Proved Developed And Undeveloped Reserve Purchase Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservePurchaseOfMineralInPlaceEnergy
68043000 mboe
CY2022 srt Proved Developed And Undeveloped Reserves Sale Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservesSaleOfMineralInPlaceEnergy
10882000 mboe
CY2022 srt Proved Developed And Undeveloped Reserve Production Energy
ProvedDevelopedAndUndevelopedReserveProductionEnergy
140892000 mboe
CY2022Q4 srt Proved Developed And Undeveloped Reserve Net Energy
ProvedDevelopedAndUndevelopedReserveNetEnergy
2032971000 mboe
CY2023 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
355874000 mboe
CY2023 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
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CY2023 srt Proved Developed And Undeveloped Reserve Purchase Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservePurchaseOfMineralInPlaceEnergy
70481000 mboe
CY2023 srt Proved Developed And Undeveloped Reserves Sale Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservesSaleOfMineralInPlaceEnergy
63682000 mboe
CY2023 srt Proved Developed And Undeveloped Reserve Production Energy
ProvedDevelopedAndUndevelopedReserveProductionEnergy
163413000 mboe
CY2023Q4 srt Proved Developed And Undeveloped Reserve Net Energy
ProvedDevelopedAndUndevelopedReserveNetEnergy
2177761000 mboe
CY2020Q4 srt Proved Developed Reserves Boe1
ProvedDevelopedReservesBOE1
816798000 mboe
CY2021Q4 srt Proved Developed Reserves Boe1
ProvedDevelopedReservesBOE1
1201102000 mboe
CY2022Q4 srt Proved Developed Reserves Boe1
ProvedDevelopedReservesBOE1
1403553000 mboe
CY2023Q4 srt Proved Developed Reserves Boe1
ProvedDevelopedReservesBOE1
1496530000 mboe
CY2020Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
499643000 mboe
CY2021Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
587889000 mboe
CY2022Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
629418000 mboe
CY2023Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
681231000 mboe
CY2023 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
355874000 mboe
CY2023 srt Development Wells Drilled Net Productive
DevelopmentWellsDrilledNetProductive
954 well
CY2023 fang Proved Undeveloped Reserves Numberof Wells Added
ProvedUndevelopedReservesNumberofWellsAdded
344 well
CY2023 fang Percentage Of Extension Volumes Attributable To Subsidiary
PercentageOfExtensionVolumesAttributableToSubsidiary
0.07
CY2023 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
-54470000 mboe
CY2023 fang Estimates Increase Decrease Due To Higher Commodity Prices And Improved Well Performance
EstimatesIncreaseDecreaseDueToHigherCommodityPricesAndImprovedWellPerformance
62370000 mboe
CY2023 fang Proved Developed And Undeveloped Reserves Revisions Of Previous Estimates Increase Decrease Due To Change In Corporate Plan
ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimatesIncreaseDecreaseDueToChangeInCorporatePlan
32249000 mboe
CY2023 fang Proved Developed And Undeveloped Reserves Performance Revisions
ProvedDevelopedAndUndevelopedReservesPerformanceRevisions
40149000 mboe
CY2023 srt Proved Developed And Undeveloped Reserve Purchase Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservePurchaseOfMineralInPlaceEnergy
70481000 mboe
CY2023 fang Proved Developed And Undeveloped Reserve Acquisitions
ProvedDevelopedAndUndevelopedReserveAcquisitions
54470000 mboe
CY2023 fang Proved Developed And Undeveloped Reserve Royalty Purchases
ProvedDevelopedAndUndevelopedReserveRoyaltyPurchases
16011000 mboe
CY2023 srt Proved Developed And Undeveloped Reserves Sale Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservesSaleOfMineralInPlaceEnergy
63682000 mboe
CY2022 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
334495000 mboe
CY2022 srt Development Wells Drilled Net Productive
DevelopmentWellsDrilledNetProductive
654 well
CY2022 fang Proved Undeveloped Reserves Numberof Wells Added
ProvedUndevelopedReservesNumberofWellsAdded
311 well
CY2022 fang Percentage Of Extension Volumes Attributable To Subsidiary
PercentageOfExtensionVolumesAttributableToSubsidiary
0.08
CY2022 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
-6784000 mboe
CY2022 fang Proved Developed And Undeveloped Reserves Revisions Of Previous Estimates Increase Decrease Due To Change In Corporate Plan
ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimatesIncreaseDecreaseDueToChangeInCorporatePlan
98902000 mboe
CY2022 fang Estimates Increase Decrease Due To Higher Commodity Prices And Improved Well Performance
EstimatesIncreaseDecreaseDueToHigherCommodityPricesAndImprovedWellPerformance
92118000 mboe
CY2022 srt Proved Developed And Undeveloped Reserve Purchase Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservePurchaseOfMineralInPlaceEnergy
68043000 mboe
CY2022 fang Proved Developed And Undeveloped Reserve Acquisitions
ProvedDevelopedAndUndevelopedReserveAcquisitions
67037000 mboe
CY2022 fang Proved Developed And Undeveloped Reserve Royalty Purchases
ProvedDevelopedAndUndevelopedReserveRoyaltyPurchases
1005000 mboe
CY2022 srt Proved Developed And Undeveloped Reserves Sale Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservesSaleOfMineralInPlaceEnergy
10882000 mboe
CY2021 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
518722000 mboe
CY2021 srt Development Wells Drilled Net Productive
DevelopmentWellsDrilledNetProductive
470 well
CY2021 fang Proved Undeveloped Reserves Numberof Wells Added
ProvedUndevelopedReservesNumberofWellsAdded
439 well
CY2021 fang Percentage Of Extension Volumes Attributable To Subsidiary
PercentageOfExtensionVolumesAttributableToSubsidiary
0.06
CY2021 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
-134705000 mboe
CY2021 fang Proved Developed And Undeveloped Reserves Revisions Of Previous Estimates Increase Decrease Due To Change In Corporate Plan
ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimatesIncreaseDecreaseDueToChangeInCorporatePlan
268560000 mboe
CY2021 fang Estimates Increase Decrease Due To Higher Commodity Prices And Improved Well Performance
EstimatesIncreaseDecreaseDueToHigherCommodityPricesAndImprovedWellPerformance
133855000 mboe
CY2021 fang Proved Developed And Undeveloped Reserve Increase Due To Purchase Of Reserves
ProvedDevelopedAndUndevelopedReserveIncreaseDueToPurchaseOfReserves
285309000 mboe
CY2021 fang Proved Developed And Undeveloped Reserve Acquisitions
ProvedDevelopedAndUndevelopedReserveAcquisitions
276207000 mboe
CY2021 fang Proved Developed And Undeveloped Reserve Royalty Purchases
ProvedDevelopedAndUndevelopedReserveRoyaltyPurchases
9102000 mboe
CY2021 fang Proved Developed And Undeveloped Reserve Divestitures
ProvedDevelopedAndUndevelopedReserveDivestitures
59775000 mboe
CY2023Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
681231000 mboe
CY2023 fang Proved Undeveloped Reserves Period Increase Decrease
ProvedUndevelopedReservesPeriodIncreaseDecrease
51813000 mboe
CY2022Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
629418000 mboe
CY2022Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
629418000 mboe
CY2023 fang Proved Undeveloped Reserves Undeveloped Reserves Transferred To Be Developed
ProvedUndevelopedReservesUndevelopedReservesTransferredToBeDeveloped
187097000 mboe
CY2023 fang Proved Undeveloped Reserves Revisions
ProvedUndevelopedReservesRevisions
34110000 mboe
CY2023 fang Proved Undeveloped Reserves Purchases
ProvedUndevelopedReservesPurchases
4206000 mboe
CY2023 fang Proved Undeveloped Reserves Divestitures
ProvedUndevelopedReservesDivestitures
7461000 mboe
CY2023 fang Proved Undeveloped Reserves Extensionsand Discoveries
ProvedUndevelopedReservesExtensionsandDiscoveries
276275000 mboe
CY2023Q4 srt Proved Undeveloped Reserve Boe1
ProvedUndevelopedReserveBOE1
681231000 mboe
CY2023 fang Proved Undeveloped Reserves Extensions And Discoveries Working Interest
ProvedUndevelopedReservesExtensionsAndDiscoveriesWorkingInterest
266178000 mboe
CY2023 fang Number Of Horizontal Wells Developed Working Interest Gross
NumberOfHorizontalWellsDevelopedWorkingInterestGross
344 well
CY2023 fang Number Of Horizontal Wells Developed Working Interest Net
NumberOfHorizontalWellsDevelopedWorkingInterestNet
295 well
CY2023 fang Proved Undeveloped Reserves Extensionsand Discoveries Mineral Interest
ProvedUndevelopedReservesExtensionsandDiscoveriesMineralInterest
10097000 mboe
CY2023 fang Number Of Horizontal Wells Developed Mineral Interest
NumberOfHorizontalWellsDevelopedMineralInterest
179 well
CY2023 fang Number Of Horizontal Wells Developed Working Interest Gross
NumberOfHorizontalWellsDevelopedWorkingInterestGross
344 well
CY2023 fang Proved Undeveloped Reserves Undeveloped Reserves Transferred To Be Developed
ProvedUndevelopedReservesUndevelopedReservesTransferredToBeDeveloped
187097000 mboe
CY2023 fang Number Of Horizontal Wells Drilled Working Interest Gross
NumberOfHorizontalWellsDrilledWorkingInterestGross
204 well
CY2023 fang Number Of Horizontal Wells Drilled Working Interest Net
NumberOfHorizontalWellsDrilledWorkingInterestNet
184 well
CY2023 fang Number Of Horizontal Wells Drilled Mineral Interest Gross
NumberOfHorizontalWellsDrilledMineralInterestGross
170 well
CY2023 fang Proved Undeveloped Reserves Revisions
ProvedUndevelopedReservesRevisions
34110000 mboe
CY2023 fang Proved Undeveloped Reserves Revisions Of Previous Estimates Increase Decrease Due To Lower Benchmark Commodity Prices Of Proved Undeveloped Locations
ProvedUndevelopedReservesRevisionsOfPreviousEstimatesIncreaseDecreaseDueToLowerBenchmarkCommodityPricesOfProvedUndevelopedLocations
25893000 mboe
CY2023 fang Proved Undeveloped Reserves Revisions Of Previous Estimates Increase Decrease Due To Refinement Of Proved Undeveloped Locations
ProvedUndevelopedReservesRevisionsOfPreviousEstimatesIncreaseDecreaseDueToRefinementOfProvedUndevelopedLocations
8217000 mboe
CY2023 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
2000000000 usd
CY2023Q4 fang Future Development Costs Year One
FutureDevelopmentCostsYearOne
1600000000 usd
CY2023Q4 fang Future Development Costs Year Two
FutureDevelopmentCostsYearTwo
1400000000 usd
CY2023Q4 fang Future Development Costs Year Three
FutureDevelopmentCostsYearThree
930000000 usd
CY2023Q4 fang Future Development Costs Year Four
FutureDevelopmentCostsYearFour
676000000 usd
CY2023Q4 fang Expected Future Conversion Of Puds To Proved Developed Category
ExpectedFutureConversionOfPUDSToProvedDevelopedCategory
0.38
CY2023Q4 fang Expected Future Development Of Pud Reserves
ExpectedFutureDevelopmentOfPUDReserves
0.83
CY2023 fang Proved Undeveloped Reserves Planned Development Period
ProvedUndevelopedReservesPlannedDevelopmentPeriod
P5Y
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
106418000000 usd
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
137051000000 usd
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
77085000000 usd
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
6400000000 usd
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
6176000000 usd
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
4243000000 usd
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
25656000000 usd
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
25295000000 usd
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
19123000000 usd
CY2023Q4 fang Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Taxes
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionTaxes
7434000000 usd
CY2022Q4 fang Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Taxes
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionTaxes
9927000000 usd
CY2021Q4 fang Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Taxes
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionTaxes
5572000000 usd
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
11067000000 usd
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
17563000000 usd
CY2022 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
17785000000 usd
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
7237000000 usd
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
55861000000 usd
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
78090000000 usd
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
40910000000 usd
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
28803000000 usd
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
42391000000 usd
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
22193000000 usd
CY2023Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
27058000000 usd
CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
35699000000 usd
CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
18717000000 usd
CY2023Q4 fang Future Development Costs Undiscounted Future Asset Retirement Cost
FutureDevelopmentCostsUndiscountedFutureAssetRetirementCost
685000000 usd
CY2022Q4 fang Future Development Costs Undiscounted Future Asset Retirement Cost
FutureDevelopmentCostsUndiscountedFutureAssetRetirementCost
756000000 usd
CY2021Q4 fang Future Development Costs Undiscounted Future Asset Retirement Cost
FutureDevelopmentCostsUndiscountedFutureAssetRetirementCost
339000000 usd
CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
35699000000 usd
CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
18717000000 usd
CY2020Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
6758000000 usd
CY2023 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
6544000000 usd
CY2022 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
8045000000 usd
CY2021 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
5757000000 usd
CY2023 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
1854000000 usd
CY2022 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
1473000000 usd
CY2021 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
1914000000 usd
CY2023 srt Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
938000000 usd
CY2022 srt Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
119000000 usd
CY2021 srt Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
275000000 usd
CY2023 srt Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
5771000000 usd
CY2022 srt Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
7674000000 usd
CY2021 srt Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
6298000000 usd
CY2023 srt Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
1180000000 usd
CY2022 srt Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
823000000 usd
CY2021 srt Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
548000000 usd
CY2023 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
-17276000000 usd
CY2021 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
10748000000 usd
CY2023 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
518000000 usd
CY2022 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
-317000000 usd
CY2021 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
-19000000 usd
CY2023 srt Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
-1268000000 usd
CY2022 srt Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
102000000 usd
CY2021 srt Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
719000000 usd
CY2023 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
4533000000 usd
CY2022 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
2183000000 usd
CY2021 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
703000000 usd
CY2023 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
2506000000 usd
CY2022 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
-4904000000 usd
CY2021 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
-2841000000 usd
CY2023 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
1023000000 usd
CY2022 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
327000000 usd
CY2021 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
-79000000 usd
CY2023Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
27058000000 usd
CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
35699000000 usd
CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
18717000000 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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