Continental Resources Inc (CLR) 10-Q9 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information Document	6 Months Ended
Document and Entity Information Document	Jun. 30, 2023 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-32886
Entity Registrant Name	CONTINENTAL RESOURCES, INC
Entity Central Index Key	0000732834
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	OK
Entity Tax Identification Number	73-0767549
Entity Address, Address Line One	20 N. Broadway
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73102
City Area Code	405
Local Phone Number	234-9000
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 13,963	$ 137,788
Receivables:
Crude oil, natural gas, and natural gas liquids sales	1,049,728	1,313,538
Joint interest and other	515,106	458,391
Allowance for credit losses	(4,049)	(5,514)
Receivables, net	1,560,785	1,766,415
Derivative assets	246,684	39,280
Inventories	196,740	173,264
Prepaid expenses and other	33,643	27,508
Total current assets	2,051,815	2,144,255
Net property and equipment, based on successful efforts method of accounting	19,455,143	18,471,914
Investment in unconsolidated affiliates	227,223	210,805
Operating lease right-of-use assets	24,307	25,158
Derivative assets, noncurrent	37,016	3,548
Other noncurrent assets	18,240	22,670
Total assets	21,813,744	20,878,350
Current liabilities:
Accounts payable trade	906,856	850,547
Revenues and royalties payable	658,164	882,256
Accrued liabilities and other	279,457	343,777
Current portion of incentive compensation liability	87,636	125,653
Current portion of income tax liabilities	57,048	152,149
Derivative liabilities	0	88,136
Current portion of operating lease liabilities	4,932	4,086
Current portion of long-term debt	894,452	638,058
Total current liabilities	2,888,545	3,084,662
Long-term debt, net of current portion	7,143,076	7,571,582
Other noncurrent liabilities:
Deferred income tax liabilities, net	2,720,305	2,538,312
Incentive compensation liability, noncurrent	22,331	100,066
Asset retirement obligations, noncurrent	262,697	257,152
Derivative liabilities, noncurrent	31,875	133,363
Operating lease liabilities, noncurrent	18,363	20,055
Other noncurrent liabilities	31,107	43,550
Total other noncurrent liabilities	3,086,678	3,092,498
Commitments and contingencies (Note 9)
Equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized 299,610,267 shares issued and outstanding at June 30, 2023; 299,610,267 shares issued and outstanding at December 31, 2022;	2,996	2,996
Retained earnings	8,329,936	6,754,174
Total shareholders’ equity attributable to Continental Resources	8,332,932	6,757,170
Noncontrolling interests	362,513	372,438
Total Equity	8,695,445	7,129,608
Total liabilities and equity	$ 21,813,744	$ 20,878,350

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	299,610,267	299,610,267
Common Stock, Shares, Outstanding	299,610,267	299,610,267

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Crude oil, natural gas, and natural gas liquids sales	$ 1,789,621	$ 2,829,173	$ 3,581,341	$ 5,103,434
Gain (loss) on derivative instruments, net	223,127	(195,744)	605,906	(671,682)
Crude oil and natural gas service operations	24,243	17,045	43,597	34,960
Total revenues	2,036,991	2,650,474	4,230,844	4,466,712
Operating costs and expenses:
Production expenses	174,408	153,238	356,394	290,518
Production and ad valorem taxes	141,653	204,246	277,828	362,611
Transportation, gathering, processing, and compression	80,525	76,352	158,394	151,201
Exploration expenses	4,533	4,634	7,911	17,651
Crude oil and natural gas service operations	21,148	10,444	38,980	19,005
Depreciation, depletion, amortization and accretion	550,169	446,633	1,026,623	905,662
Property impairments	22,368	15,826	35,442	40,074
General and administrative expenses	55,113	62,574	118,384	137,411
Net (gain) loss on sale of assets and other	(161)	10	(347)	(155)
Total operating costs and expenses	1,049,756	973,957	2,019,609	1,923,978
Income from operations	987,235	1,676,517	2,211,235	2,542,734
Other income (expense):
Interest expense	(105,448)	(72,236)	(205,129)	(144,791)
Gain (loss) on extinguishment of debt		(403)	0	(403)
Other	2,905	1,240	4,659	13
Total other income (expense)	(102,543)	(71,399)	(200,470)	(145,181)
Income before income taxes	884,692	1,605,118	2,010,765	2,397,553
Provision for income taxes	(193,388)	(389,271)	(433,144)	(580,355)
Income before equity in net loss of affiliate	691,304	1,215,847	1,577,621	1,817,198
Equity in net loss of affiliate	(495)	(76)	(1,158)	(76)
Net income	690,809	1,215,771	1,576,463	1,817,122
Net income (loss) attributable to noncontrolling interests	(4)	7,024	1,353	10,618
Net income attributable to Continental Resources	$ 690,813	$ 1,208,747	$ 1,575,110	$ 1,806,504
Basic net income (loss) per share (in dollars per share)	$ 2.31	$ 3.38	$ 5.26	$ 5.05
Diluted net income (loss) per share (in dollars per share)	$ 2.31	$ 3.35	$ 5.26	$ 4.99

Condensed Consolidated Statemen

Condensed Consolidated Statements of Shareholders Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings	Continental Resources Shareholders' Equity	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests							$ 380,869
Total Equity	$ 7,856,325
Balance at Dec. 31, 2021		$ 3,643	$ 1,131,602		$ 6,340,211	$ 7,475,456
Balance, shares at Dec. 31, 2021		364,297,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Continental Resources	1,806,504
Net income (loss) attributable to noncontrolling interests	10,618						10,618
Net income (loss)	1,817,122				1,806,504	1,806,504
Dividends, Common Stock, Cash	(185,397)				(185,397)	(185,397)
Change in dividends payable	(88)				(88)	(88)
Treasury Stock, Value, Acquired, Cost Method	(99,855)			$ 99,855		99,855
Treasury Stock, Shares, Retired		(1,842,422)
Treasury Stock, Retired, Cost Method, Amount		$ (18)	(99,837)	$ 99,855
Contributions from Noncontrolling Interests	3,806						3,806
Distributions to Noncontrolling Interests	(17,396)						17,396
Stock-based compensation (unaudited)	44,087		44,087			44,087
Restricted stock:
Granted (unaudited)	14	$ 14				14
Granted (unaudited), shares		1,431,883
Repurchased and canceled (unaudited)	(32,967)	$ (6)	(32,961)			(32,967)
Repurchased and canceled (unaudited), shares		(591,742)
Forfeited (unaudited), shares		(293,109)
Forfeitures (unaudited)	(3)	$ (3)				3
Balance at Jun. 30, 2022		$ 3,630	1,042,891		7,961,406	9,007,927
Balance, shares at Jun. 30, 2022		363,002,130
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests							377,652
Total Equity	8,270,443
Balance at Mar. 31, 2022		$ 3,631	1,034,977		6,854,183	7,892,791
Balance, shares at Mar. 31, 2022		363,126,085
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Continental Resources	1,208,747				1,208,747	1,208,747
Net income (loss) attributable to noncontrolling interests	7,024						7,024
Net income (loss)	1,215,771
Dividends, Common Stock, Cash	(101,631)				(101,631)	(101,631)
Change in dividends payable	107				107	107
Contributions from Noncontrolling Interests	2,003						2,003
Distributions to Noncontrolling Interests	(8,782)						(8,782)
Stock-based compensation (unaudited)	14,857		14,857			14,857
Restricted stock:
Granted (unaudited)	1	$ 1				1
Granted (unaudited), shares		135,855
Repurchased and canceled (unaudited)	(6,944)	$ (1)	(6,943)			(6,944)
Repurchased and canceled (unaudited), shares		(110,718)
Forfeited (unaudited), shares		(149,092)
Forfeitures (unaudited)	(1)	$ (1)				(1)
Balance at Jun. 30, 2022		$ 3,630	$ 1,042,891		7,961,406	9,007,927
Balance, shares at Jun. 30, 2022		363,002,130
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests							377,897
Total Equity	9,385,824
Noncontrolling interests	372,438						372,438
Total Equity	7,129,608
Balance at Dec. 31, 2022	$ 6,757,170	$ 2,996			6,754,174	6,757,170
Balance, shares at Dec. 31, 2022	299,610,267	299,610,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Continental Resources	$ 1,575,110				1,575,110	1,575,110
Net income (loss) attributable to noncontrolling interests	1,353						1,353
Net income (loss)	1,576,463
Change in dividends payable	652				652	652
Contributions from Noncontrolling Interests	6,173						6,173
Distributions to Noncontrolling Interests	(17,451)						(17,451)
Balance at Jun. 30, 2023	$ 8,332,932	$ 2,996			8,329,936	8,332,932
Balance, shares at Jun. 30, 2023	299,610,267	299,610,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests							365,889
Total Equity	$ 8,007,972
Balance at Mar. 31, 2023		$ 2,996			7,639,087	7,642,083
Balance, shares at Mar. 31, 2023		299,610,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Continental Resources	690,813				690,813	690,813
Net income (loss) attributable to noncontrolling interests	(4)						(4)
Net income (loss)	690,809
Change in dividends payable	36				36	36
Contributions from Noncontrolling Interests	3,647						3,647
Distributions to Noncontrolling Interests	(7,019)						(7,019)
Balance at Jun. 30, 2023	$ 8,332,932	$ 2,996			$ 8,329,936	$ 8,332,932
Balance, shares at Jun. 30, 2023	299,610,267	299,610,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests	$ 362,513						$ 362,513
Total Equity	$ 8,695,445

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Cash Flows [Abstract]
Net income	$ 1,576,463	$ 1,817,122
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, Depletion, Amortization and Accretion	1,028,500	907,749
Property impairments	35,442	40,074
Non-cash (gain) loss on derivatives	(430,496)	494,142
Stock/incentive-based compensation	13,624	44,101
Provision for deferred income taxes	181,992	241,530
Equity in net loss of affiliate	1,158	(76)
Dry hole costs	0	12,053
Net (gain) loss on sale of assets and other	(347)	(155)
Loss on extinguishment of debt	0	403
Other, net	8,429	8,400
Changes in assets and liabilities:
Accounts receivable	206,959	(785,171)
Inventories	(23,616)	(69,662)
Other current assets	(5,077)	(5,704)
Accounts payable trade	(2,342)	78,597
Revenues and royalties payable	(222,123)	288,324
Accrued liabilities and other	(63,672)	83,624
Current incentive compensation liability	(129,377)	0
Current income taxes liability	(95,101)	88,679
Other noncurrent assets and liabilities	(14,905)	(1,908)
Net cash provided by operating activities	2,065,511	3,242,274
Cash flows from investing activities
Exploration and development	(1,724,460)	(1,309,681)
Purchase of producing crude oil and natural gas properties	(143,829)	(437,377)
Purchase of other property and equipment	(117,089)	(37,645)
Proceeds from sale of assets	7,402	2,126
Contributions to unconsolidated affiliates	(18,075)	(65,782)
Net cash used in investing activities	(1,996,051)	(1,848,359)
Cash flows from financing activities
Credit facility borrowings	3,222,000	1,916,000
Repayment of credit facility	(2,761,000)	(2,416,000)
Redemption and repurchase of Senior Notes	(636,000)	(31,829)
Repayment of other debt	(1,195)	(1,155)
Debt issuance costs	(242)	(199)
Contributions from noncontrolling interests	4,822	4,902
Distributions to noncontrolling interests	(19,619)	(16,841)
Repurchase of common stock prior to take-private transaction	0	(99,855)
Repurchase of restricted stock for tax withholdings	0	(32,967)
Dividends paid on common stock	(2,051)	(183,579)
Net cash used in financing activities	(193,285)	(861,523)
Net change in cash and cash equivalents	(123,825)	(532,392)
Cash and cash equivalents at beginning of period	137,788	20,868
Cash and cash equivalents at end of period	$ 13,963	$ 553,260

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
Organization and Nature of Business	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Note 1. Org anization and Nature of Business Nature of Business Continental Resources, Inc. (the “Company”) was formed in 1967 and is incorporated under the laws of the State of Oklahoma. The Company’s principal business is the exploration, development, management, and production of crude oil and natural gas and associated products with properties primarily located in four leading basins in the United States – the Bakken field of North Dakota and Montana, the Anadarko Basin of Oklahoma, the Permian Basin of Texas, and the Powder River Basin of Wyoming. Additionally, the Company pursues the acquisition and management of perpetually owned minerals located in certain of its key operating areas. For the six months ended June 30, 2023, crude oil accounted for 52 % of the Company’s total production and 82 % of its crude oil, natural gas, and natural gas liquids revenues. 2022 Take-Private Transaction On November 22, 2022, the Company completed a series of take-private transactions with Omega Acquisition, Inc., an entity owned by the Company’s founder, Harold G. Hamm, pursuant to which the Company became wholly owned by Mr. Hamm, certain members of his family and their affiliated entities (the “Hamm Family”). Following the consummation of the transactions: (i) our common stock ceased to be listed on the New York Stock Exchange; (ii) our common stock was deregistered under Section 12(b) of the Securities Exchange Act of 1934 as amended (the “Exchange Act”); and (iii) we suspended our reporting obligations under Section 15(d) of the Exchange Act. As a result, certain of the corporate governance, disclosure, and other provisions applicable to a company with listed equity securities and reporting obligations under the Exchange Act no longer apply to us. We will continue to furnish Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K with the SEC as required by our senior note indentures.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
Basis of Presentation and Significant Accounting Policies	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Note 2. Basis of Presentation and Significant Accounting Policies Basis of presentation The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities in which the Company has a controlling financial interest. Intercompany accounts and transactions have been eliminated upon consolidation. Noncontrolling interests reflected herein represent third party ownership in the net assets of consolidated subsidiaries. The portions of consolidated net income and equity attributable to the noncontrolling interests are presented separately in the Company’s financial statements. Investments in entities in which the Company has the ability to exercise significant influence, but does not control, are accounted for using the equity method of accounting. In applying the equity method, the investments are initially recognized at cost and are subsequently adjusted for the Company's proportionate share of earnings, losses, contributions, and distributions, as applicable. This report has been prepared pursuant to rules and regulations applicable to interim financial information. Because this is an interim period filing presented using a condensed format, it does not include all disclosures required by accounting principles generally accepted in the United States (“U.S. GAAP”), although the Company believes the disclosures are adequate to make the information not misleading. You should read this Quarterly Report on Form 10-Q (“Form 10-Q”) together with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”), which includes a summary of the Company’s significant accounting policies and other disclosures. The condensed consolidated financial statements as of June 30, 2023 and for the three and six month periods ended June 30, 2023 and 2022 are unaudited. The condensed consolidated balance sheet as of December 31, 2022 was derived from the audited balance sheet included in the 2022 Form 10-K. The Company evaluated its June 30, 2023 financial statements for subsequent events through August 9, 2023, the date the financial statements were available to be issued. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure and estimation of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. The most significant estimates and assumptions impacting reported results are estimates of the Company’s crude oil and natural gas reserves, which are used to compute depreciation, depletion, amortization and impairment of proved crude oil and natural gas properties. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation in accordance with U.S. GAAP have been included in these unaudited condensed consolidated financial statements. The results of operations for any interim period are not necessarily indicative of the results of operations that may be expected for any other interim period or for an entire year. Earnings per share Basic net income per share is computed by dividing net income attributable to the Company by the weighted-average number of shares outstanding for the period. Prior to the Hamm Family's take-private transaction, in periods where the Company had net income, diluted earnings per share reflected the potential dilution of non-vested restricted stock awards, which was calculated using the treasury stock method. The following table presents the calculation of basic and diluted weighted average shares outstanding and net income per share attributable to the Company for the three and six months ended June 30, 2023. Three months ended June 30, Six months ended June 30, In thousands, except per share data 2023 2022 2023 2022 Net income attributable to Continental Resources (numerator) $ 690,813 $ 1,208,747 $ 1,575,110 $ 1,806,504 Weighted average shares (denominator): Weighted average shares - basic 299,610 357,575 299,610 357,871 Non-vested restricted stock and long-term incentive awards (1) — 3,618 4,154 Weighted average shares - diluted 299,610 361,193 299,610 362,025 Net income per share attributable to Continental Resources: Basic $ 2.31 $ 3.38 $ 5.26 $ 5.05 Diluted $ 2.31 $ 3.35 $ 5.26 $ 4.99 (1) At June 30, 2023 , the Company's outstanding long-term incentive awards are expected to be paid in cash, not common stock, upon vesting and are classified as liability awards pursuant to ASC Topic 718, Compensation—Stock Compensation. As a result, no potential dilutive effect for the awards is presented for the three and six months ended June 30, 2023 .

Property Acquisition

Property Acquisition	6 Months Ended
Property Acquisition	Jun. 30, 2023
Property Acquisition [Abstract]
Property Acquisition	Note 3. Property Acquisitions 2023 In March 2023, the Company acquired oil and gas properties in the Anadarko Basin of Oklahoma for cash consideration of $ 178 million. Of the purchase price, $ 84 million was allocated to proved properties and $ 94 million was allocated to unproved properties. 2022 In March 2022, the Company acquired oil and gas properties in the Powder River Basin of Wyoming for cash consideration of $ 403 million. Of the purchase price, $ 381.3 million was allocated to proved properties and $ 21.7 million was allocated to unproved properties. In April 2022, the Company acquired oil and gas properties in the Permian Basin of Texas for cash consideration of $ 197 million. Nearly all of the purchase price was allocated to unproved properties.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
Supplemental Cash Flow Information	Jun. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Note 4. Supplemental Cash Flow Information The following table discloses supplemental cash flow information about cash paid for interest and income tax payments and refunds. Also disclosed is information about investing activities that affects recognized assets and liabilities but does not result in cash receipts or payments. Six months ended June 30, In thousands 2023 2022 Supplemental cash flow information: Cash paid for interest $ 203,256 $ 135,018 Cash paid for income taxes (1) 346,253 250,145 Cash received for income tax refunds 2 13 Non-cash investing activities: Asset retirement obligation additions and revisions, net 641 24,790 (1) Amounts represent estimated quarterly payments for U.S. federal and state income taxes based on estimates of taxable income for the year. As of June 30, 2023 and December 31, 2022 , the Company had $ 403.7 million and $ 344.9 million, respectively, of accrued capital expenditures included in “Net property and equipment” with an offsetting amount in “Accounts payable trade” in the condensed consolidated balance sheets.

Revenues

Revenues	6 Months Ended
Revenues	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Note 5. Revenues The following table presents the disaggregation of the Company's crude oil and natural gas revenues by operating area for the three and six months ended June 30, 2023 and 2022. Sales of natural gas and NGLs are combined, as a substantial majority of the Company's natural gas sales contracts represent wellhead sales of unprocessed gas. Three months ended June 30, 2023 Three months ended June 30, 2022 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 846,326 $ 59,783 $ 906,109 $ 1,071,043 $ 253,607 $ 1,324,650 Anadarko Basin 265,008 138,578 403,586 329,666 529,353 859,019 Powder River Basin 95,422 7,847 103,269 161,644 38,216 199,860 Permian Basin 312,968 16,853 329,821 336,532 46,258 382,790 All other 46,802 34 46,836 62,596 258 62,854 Crude oil, natural gas, and natural gas liquids sales $ 1,566,526 $ 223,095 $ 1,789,621 $ 1,961,481 $ 867,692 $ 2,829,173 Six months ended June 30, 2023 Six months ended June 30, 2022 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 1,643,245 $ 212,668 $ 1,855,913 $ 2,034,360 $ 493,475 $ 2,527,835 Anadarko Basin 465,989 358,798 824,787 610,828 872,710 1,483,538 Powder River Basin 196,170 22,104 218,274 241,558 46,508 288,066 Permian Basin 556,574 35,706 592,280 598,916 84,683 683,599 All other 89,984 103 90,087 119,667 729 120,396 Crude oil, natural gas, and natural gas liquids sales $ 2,951,962 $ 629,379 $ 3,581,341 $ 3,605,329 $ 1,498,105 $ 5,103,434

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 6. Derivative Instruments From time to time the Company enters into derivative contracts to economically hedge against the variability in cash flows associated with future sales of production. The Company recognizes its derivative instruments on the balance sheet as either assets or liabilities measured at fair value. The estimated fair value is based upon various factors, including commodity exchange prices, over-the-counter quotations, and, in the case of collars, volatility, the risk-free interest rate, and the time to expiration. The calculation of the fair value of collars requires the use of an option-pricing model. See Note 7. Fair Value Measurements . At June 30, 2023 the Company had outstanding derivative contracts as set forth in the tables below. Natural gas derivatives Weighted Average Hedge Price ($/MMBtu) Period and Type of Contract Average Volumes Hedged Basis Swaps Swaps Floor Ceiling July 2023 - December 2023 Basis Swaps - NGPL TXOK 75,000 MMBtus/day $ ( 0.17 ) July 2023 - Sept 2023 Swaps - Henry Hub 615,000 MMBtus/day $ 3.49 Swaps - WAHA 70,000 MMBtus/day $ 2.74 October 2023 - December 2023 Swaps - Henry Hub 420,000 MMBtus/day $ 3.70 Collars - Henry Hub 200,000 MMBtus/day $ 3.12 $ 4.09 Swaps - WAHA 70,000 MMBtus/day $ 2.74 January 2024 - December 2024 Swaps - Henry Hub 618,000 MMBtus/day $ 3.44 Collars - Henry Hub 50,000 MMBtus/day $ 3.12 $ 4.09 Swaps - WAHA 42,000 MMBtus/day $ 3.08 January 2025 - December 2025 Swaps - Henry Hub 545,000 MMBtus/day $ 3.93 January 2026 - December 2026 Swaps - Henry Hub 450,000 MMBtus/day $ 4.13 Crude oil derivatives Weighted Average Period and Type of Contract Average Volumes Hedged Roll Swaps Fixed Swaps June 2023 - December 2023 Roll Swaps - NYMEX 12,000 Bbls/day $ 1.07 Fixed Swaps - WTI 76,000 Bbls/day $ 78.71 January 2024 - March 2024 Fixed Swaps - WTI 68,000 Bbls/day $ 78.19 Derivative gains and losses Cash receipts and payments in the following table reflect the gains or losses on derivative contracts which matured during the applicable period, calculated as the difference between the contract price and the market settlement price of matured contracts. The Company's derivative contracts are settled based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on NYMEX West Texas Intermediate ("WTI") pricing and natural gas derivative settlements based primarily on NYMEX Henry Hub pricing. Non-cash gains and losses below represent the change in fair value of derivative instruments which continued to be held at period end and the reversal of previously recognized non-cash gains or losses on derivative contracts that matured during the period. Three months ended June 30, Six months ended June 30, In thousands 2023 2022 2023 2022 Cash received (paid) on derivatives: Crude oil fixed price swaps $ 34,653 $ — $ 39,751 $ — Crude oil NYMEX roll swaps 1,167 ( 5,592 ) 2,567 ( 7,072 ) Natural gas basis swaps 625 1,563 1,982 $ 1,491 Natural gas WAHA swaps 9,351 — 9,363 — Natural gas fixed price swaps 77,924 ( 137,354 ) 93,626 ( 141,583 ) Natural gas collars — ( 13,917 ) 24,380 $ ( 13,917 ) Natural gas 3-way collars — — 3,741 $ ( 16,459 ) Cash received (paid) on derivatives, net 123,720 ( 155,300 ) 175,410 ( 177,540 ) Non-cash gain (loss) on derivatives: Crude oil fixed price swaps 74,090 — 152,629 — Crude oil NYMEX roll swaps ( 109 ) ( 8,519 ) ( 717 ) ( 16,159 ) Natural gas basis swaps 140 ( 1,321 ) ( 6,601 ) 4,792 Natural gas WAHA swaps ( 26,430 ) ( 395 ) ( 10,759 ) ( 14,073 ) Natural gas fixed price swaps 50,299 ( 40,819 ) 265,991 ( 368,494 ) Natural gas collars 1,417 7,978 30,551 ( 90,258 ) Natural gas 3-way collars — 2,632 ( 598 ) ( 9,950 ) Non-cash gain (loss) on derivatives, net 99,407 ( 40,444 ) 430,496 ( 494,142 ) Gain (loss) on derivative instruments, net $ 223,127 $ ( 195,744 ) $ 605,906 $ ( 671,682 ) Balance sheet offsetting of derivative assets and liabilities The Company’s derivative contracts are recorded at fair value in the condensed consolidated balance sheets under the captions “Derivative assets,” “Derivative assets, noncurrent,” “Derivative liabilities,” and “Derivative liabilities, noncurrent,” as applicable. Derivative assets and liabilities with the same counterparty that are subject to contractual terms which provide for net settlement are reported on a net basis in the condensed consolidated balance sheets. The following table presents the gross amounts of recognized derivative assets and liabilities, as applicable, the amounts offset under netting arrangements with counterparties, and the resulting net amounts presented in the condensed consolidated balance sheets for the periods presented, all at fair value. In thousands June 30, 2023 December 31, 2022 Commodity derivative assets: Gross amounts of recognized assets $ 306,373 $ 50,559 Gross amounts offset on balance sheet ( 22,673 ) ( 7,731 ) Net amounts of assets on balance sheet 283,700 42,828 Commodity derivative liabilities: Gross amounts of recognized liabilities ( 54,548 ) ( 229,230 ) Gross amounts offset on balance sheet 22,673 7,731 Net amounts of liabilities on balance sheet $ ( 31,875 ) $ ( 221,499 ) The following table reconciles the net amounts disclosed above to the individual financial statement line items in the condensed consolidated balance sheets. In thousands June 30, 2023 December 31, 2022 Derivative assets $ 246,684 $ 39,280 Derivative assets, noncurrent 37,016 3,548 Net amounts of assets on balance sheet 283,700 42,828 Derivative liabilities — ( 88,136 ) Derivative liabilities, noncurrent ( 31,875 ) ( 133,363 ) Net amounts of liabilities on balance sheet ( 31,875 ) ( 221,499 ) Total derivative assets (liabilities), net $ 251,825 $ ( 178,671 )

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7. Fair Value Measurements The Company's derivative instruments are reported at fair value on a recurring basis. In determining the fair values of swap contracts, a discounted cash flow method is used due to the unavailability of relevant comparable market data for the Company’s exact contracts. The discounted cash flow method estimates future cash flows based on quoted market prices for forward commodity prices and a risk-adjusted discount rate. The fair values of swap contracts are calculated mainly using significant observable inputs (Level 2). Calculation of the fair values of collars requires the use of an industry-standard option pricing model that considers various inputs including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. These assumptions are observable in the marketplace or can be corroborated by active markets or broker quotes and are therefore designated as Level 2 within the valuation hierarchy. The Company’s calculation of fair value for each of its derivative positions is compared to the counterparty valuation for reasonableness. The following tables summarize the valuation of derivative instruments by pricing levels that were accounted for at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. Fair value measurements at June 30, 2023 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 164,325 $ — $ 164,325 Crude oil NYMEX roll swaps — 2,119 — 2,119 Natural gas basis swaps — 2,309 — 2,309 Natural gas WAHA swaps — 8,627 — 8,627 Natural gas fixed price swaps — 74,212 — 74,212 Natural gas collars — 233 — 233 Total $ — $ 251,825 $ — $ 251,825 Fair value measurements at December 31, 2022 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 11,696 $ — $ 11,696 Crude oil NYMEX roll swaps — 2,836 — 2,836 Natural gas basis swaps — 8,910 — 8,910 Natural gas WAHA swaps — 19,386 — 19,386 Natural gas fixed price swaps — ( 191,779 ) — ( 191,779 ) Natural gas collars — ( 30,318 ) — ( 30,318 ) Natural gas 3-way collars — 598 — 598 Total $ — $ ( 178,671 ) $ — $ ( 178,671 )

Debt

Debt	6 Months Ended
Debt	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Note 8. Debt The Company's debt, net of unamortized discounts, premiums, and debt issuance costs totaling $ 45.5 million and $ 49.6 million at June 30, 2023 and December 31, 2022, respectively, consists of the following. In thousands June 30, 2023 December 31, 2022 Credit facility $ 1,621,000 $ 1,160,000 Term Loan 747,583 747,073 Notes payable 18,852 20,041 4.5 % Senior Notes due 2023 — 635,648 3.8 % Senior Notes due 2024 (1) 892,001 891,404 2.268 % Senior Notes due 2026 794,797 794,062 4.375 % Senior Notes due 2028 993,694 993,076 5.75 % Senior Notes due 2031 1,484,639 1,483,843 2.875 % Senior Notes due 2032 792,605 792,238 4.9 % Senior Notes due 2044 692,357 692,255 Total debt $ 8,037,528 $ 8,209,640 Less: Current portion of long-term debt (1) 894,452 638,058 Long-term debt, net of current portion $ 7,143,076 $ 7,571,582 (1) The Company's 2024 Notes, which have a face value of $ 893.1 million at June 30, 2023, are scheduled to mature on June 1, 2024 and, accordingly, are included as a current liability in the caption "Current portion of long-term debt" in the condensed consolidated balance sheets as of June 30, 2023. Credit Facility The Company has a credit facility, maturing in October 2026, with aggregate lender commitments totaling $ 2.255 billion. The credit facility is unsecured and has no borrowing base requirement subject to redetermination. The Company had $ 1.62 billion of outstanding borrowings on its credit facility at June 30, 2023, a portion of which was incurred to fund a portion of the Hamm Family’s November 2022 take-private transaction. Credit facility borrowings bear interest at market-based interest rates plus a margin based on the terms of the borrowing and the credit ratings assigned to the Company’s senior, unsecured, long-term indebtedness. The weighted-average interest rate on outstanding credit facility borrowings at June 30, 2023 was 6.8 %. The Company had approximately $ 633 million of borrowing availability on its credit facility at June 30, 2023 after considering outstanding borrowings and letters of credit. The Company incurs commitment fees based on currently assigned credit ratings of 0.20 % per annum on the daily average amount of unused borrowing availability. The credit facility contains certain restrictive covenants, including a requirement that the Company maintain a consolidated net debt to total capitalization ratio of no greater than 0.65 to 1.00. This ratio represents the ratio of net debt (calculated as total face value of debt plus outstanding letters of credit less cash and cash equivalents) divided by the sum of net debt plus total shareholders' equity plus, to the extent resulting in a reduction of total shareholders’ equity, the amount of any non-cash impairment charges incurred, net of any tax effect, after June 30, 2014. The Company was in compliance with the credit facility covenants at June 30, 2023. Senior Notes The following table summarizes the face values, maturity dates, semi-annual interest payment dates, and optional redemption periods related to the Company’s outstanding senior note obligations at June 30, 2023. 2024 Notes 2026 Notes 2028 Notes 2031 Notes 2032 Notes 2044 Notes Face value (in thousands) $ 893,126 $ 800,000 $ 1,000,000 $ 1,500,000 $ 800,000 $ 700,000 Maturity date June 1, 2024 November 15, 2026 January 15, 2028 January 15, 2031 April 1, 2032 June 1, 2044 Interest payment dates June 1, Dec 1 May 15, Nov 15 Jan 15, July 15 Jan 15, Jul 15 April 1, Oct 1 June 1, Dec 1 Make-whole redemption period (1) Mar 1, 2024 Nov 15, 2023 Oct 15, 2027 Jul 15, 2030 January 1. 2032 Dec 1, 2043 (1) At any time prior to the indicated dates, the Company has the option to redeem all or a portion of its senior notes of the applicable series at the “make-whole” redemption amounts specified in the respective senior note indentures plus any accrued and unpaid interest to the date of redemption. On or after the indicated dates, the Company may redeem all or a portion of its senior notes at a redemption amount equal to 100 % of the principal amount of the senior notes being redeemed plus any accrued and unpaid interest to the date of redemption. The Company’s senior notes are not subject to any mandatory redemption or sinking fund requirements. The indentures governing the Company’s senior notes contain covenants that, among other things, limit the Company’s ability to create liens securing certain indebtedness, enter into certain sale-leaseback transactions, or consolidate, merge or transfer certain assets. These covenants are subject to a number of important exceptions and qualifications. The Company was in compliance with these covenants at June 30, 2023. The senior notes are obligations of Continental Resources, Inc. Additionally, certain of the Company’s wholly-owned subsidiaries (Banner Pipeline Company, L.L.C., CLR Asset Holdings, LLC, The Mineral Resources Company, SCS1 Holdings LLC, Continental Innovations LLC, Jagged Peak Energy LLC, and Parsley SoDe Water LLC) fully and unconditionally guarantee the senior notes on a joint and several basis. The financial information of the guarantor group is not materially different from the consolidated financial statements of the Company. The Company’s other subsidiaries, whose assets, equity, and results of operations attributable to the Company are not material, do not guarantee the senior notes. Redemption of Senior Notes On April 14, 2023, the Company repaid its outstanding $ 636 million of 2023 Notes that were scheduled to mature on April 15, 2023. The redemption price was equal to 100 % of the principal amount plus accrued and unpaid interest to the redemption date. The aggregate of the principal amount and accrued interest paid upon redemption was $ 650.3 million. Term Loan In November 2022, the Company borrowed $ 750 million under a three-year term loan agreement, the proceeds of which were used to fund a portion of the Hamm Family’s November 2022 take-private transaction. The term loan matures in November 2025 and bears interest at market-based interest rates plus a margin based on the terms of the borrowing and the credit ratings assigned to the Company’s senior, unsecured, long-term indebtedness. The interest rate on the term loan was 6.7 % at June 30, 2023. The term loan contains certain restrictive covenants including a requirement that the Company maintain a consolidated net debt to total capitalization ratio of no greater than 0.65 to 1.0, consistent with the covenant requirement in the Company’s revolving credit facility. The Company was in compliance with the term loan covenants at June 30, 2023 .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9. Commitments and Contingencies Transportation, gathering, and processing commitments – The Company has entered into transportation, gathering, and processing commitments to guarantee capacity on crude oil and natural gas pipelines and natural gas processing facilities. Certain of the commitments, which have varying terms extending as far as 2031 , require the Company to pay per-unit transportation, gathering, or processing charges regardless of the amount of capacity used. Future commitments remaining as of June 30, 2023 under the arrangements amount to approximately $ 975 million, of which $ 167 million is expected to be incurred in the remainder of 2023, $ 291 million in 2024, $ 164 million in 2025, $ 139 million in 2026, $ 136 million in 2027, and $ 78 million thereafter. A portion of these future costs will be borne by other interest owners. The Company is not committed under the above contracts to deliver fixed and determinable quantities of crude oil or natural gas in the future. These commitments do not qualify as leases under ASC Topic 842 and are not recognized on the Company's balance sheet. Litigation pertaining to take-private transaction – Transactions such as the Hamm Family’s take-private transaction described in Note 1. Organization and Nature of Business—2022 Take-Private Transaction often attract litigation and demands from minority shareholders. In April 2023, three separate putative class actions were consolidated under the caption In re Continental Resources, Inc. Shareholder Litigation , Case No. CJ-2022-4162, in the District Court of Oklahoma County, Oklahoma (the “Consolidated Action”). In the Consolidated Action, the plaintiffs, on behalf of themselves and all other similarly situated former shareholders of the Company, allege that Mr. Hamm, certain trusts established for the benefit of Mr. Hamm and/or his family members, and the Company’s other directors breached their fiduciary duties in connection with the take-private transaction and seek: (i) monetary damages; (ii) the costs and expenses associated with the lawsuits; and (iii) other equitable relief. The defendants continue to vigorously defend themselves against these claims. In January 2023, FourWorld Deep Value Opportunities Fund I, LLC, FourWorld Event Opportunities, LP, FW Deep Value Opportunities I, LLC, FourWorld Global Opportunities Fund, Ltd., FourWorld Special Opportunities Fund, LLC, Corbin ERISA Opportunity Fund Ltd., and Quadre Investments, L.P. (collectively, “FourWorld”), all former shareholders of the Company, filed a petition in the District Court of Oklahoma County, Oklahoma, seeking appraisal of their respective shares of the Company’s common stock in connection with the take-private transaction. The Company continues to vigorously defend itself against these claims.

Incentive Compensation

Incentive Compensation	6 Months Ended
Incentive Compensation	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Incentive Compensation	Note 10. Incentive Compensation The Company has granted long-term incentive compensation awards to employees pursuant to the Continental Resources, Inc. 2022 Long-Term Incentive Plan ("2022 Plan"). Such awards generally vest after three years of employee service. The Company intends to settle all outstanding awards vesting in the future in cash and, thus, the awards are classified as liability awards pursuant to ASC Topic 718, Compensation—Stock Compensation. At June 30, 2023 , the Company had recorded a current liability of $ 87.6 million and a non-current liability of $ 22.3 million in the captions “Current portion of incentive compensation liability” and “Incentive compensation liability, noncurrent,” respectively, in the consolidated balance sheets associated with the awards. Such amounts reflect the Company’s estimate of expected future cash payments multiplied by the percentage of requisite service periods that employees have completed as of June 30, 2023. The Company’s incentive compensation liability will be remeasured each reporting period leading up to the applicable award vesting dates to reflect additional service rendered by employees and to reflect changes in expected cash payments arising from underlying changes in the value of the Company based on independent third party appraisals. Changes in the liability will be recorded as increases or decreases to compensation expense. The Company has estimated the number of forfeitures expected to occur in determining the amount of liability and expense to recognize. Compensation expense associated with the Company’s awards totaled $ 11.3 million and $ 14.8 million for the three months ended June 30, 2023 and 2022 , respectively, and $ 12.3 million and $ 44.1 million for the six months ended June 30, 2023 and 2022, respectively, which is included in the caption “General and administrative expenses” in the consolidated statements of income. As of June 30, 2023 , there was approximately $ 130 million of unrecognized liabilities and compensation expense related to unvested awards, which are expected to be recognized over a weighted average period of 1.7 years.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Description of the Company	Nature of Business Continental Resources, Inc. (the “Company”) was formed in 1967 and is incorporated under the laws of the State of Oklahoma. The Company’s principal business is the exploration, development, management, and production of crude oil and natural gas and associated products with properties primarily located in four leading basins in the United States – the Bakken field of North Dakota and Montana, the Anadarko Basin of Oklahoma, the Permian Basin of Texas, and the Powder River Basin of Wyoming. Additionally, the Company pursues the acquisition and management of perpetually owned minerals located in certain of its key operating areas. For the six months ended June 30, 2023, crude oil accounted for 52 % of the Company’s total production and 82 % of its crude oil, natural gas, and natural gas liquids revenues.
2022 Take-Private Transaction	2022 Take-Private Transaction On November 22, 2022, the Company completed a series of take-private transactions with Omega Acquisition, Inc., an entity owned by the Company’s founder, Harold G. Hamm, pursuant to which the Company became wholly owned by Mr. Hamm, certain members of his family and their affiliated entities (the “Hamm Family”). Following the consummation of the transactions: (i) our common stock ceased to be listed on the New York Stock Exchange; (ii) our common stock was deregistered under Section 12(b) of the Securities Exchange Act of 1934 as amended (the “Exchange Act”); and (iii) we suspended our reporting obligations under Section 15(d) of the Exchange Act. As a result, certain of the corporate governance, disclosure, and other provisions applicable to a company with listed equity securities and reporting obligations under the Exchange Act no longer apply to us. We will continue to furnish Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K with the SEC as required by our senior note indentures.
Basis of Presentation	Basis of presentation The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities in which the Company has a controlling financial interest. Intercompany accounts and transactions have been eliminated upon consolidation. Noncontrolling interests reflected herein represent third party ownership in the net assets of consolidated subsidiaries. The portions of consolidated net income and equity attributable to the noncontrolling interests are presented separately in the Company’s financial statements. Investments in entities in which the Company has the ability to exercise significant influence, but does not control, are accounted for using the equity method of accounting. In applying the equity method, the investments are initially recognized at cost and are subsequently adjusted for the Company's proportionate share of earnings, losses, contributions, and distributions, as applicable. This report has been prepared pursuant to rules and regulations applicable to interim financial information. Because this is an interim period filing presented using a condensed format, it does not include all disclosures required by accounting principles generally accepted in the United States (“U.S. GAAP”), although the Company believes the disclosures are adequate to make the information not misleading. You should read this Quarterly Report on Form 10-Q (“Form 10-Q”) together with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”), which includes a summary of the Company’s significant accounting policies and other disclosures. The condensed consolidated financial statements as of June 30, 2023 and for the three and six month periods ended June 30, 2023 and 2022 are unaudited. The condensed consolidated balance sheet as of December 31, 2022 was derived from the audited balance sheet included in the 2022 Form 10-K. The Company evaluated its June 30, 2023 financial statements for subsequent events through August 9, 2023, the date the financial statements were available to be issued. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure and estimation of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. The most significant estimates and assumptions impacting reported results are estimates of the Company’s crude oil and natural gas reserves, which are used to compute depreciation, depletion, amortization and impairment of proved crude oil and natural gas properties. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation in accordance with U.S. GAAP have been included in these unaudited condensed consolidated financial statements. The results of operations for any interim period are not necessarily indicative of the results of operations that may be expected for any other interim period or for an entire year.
Earnings Per Share	Earnings per share Basic net income per share is computed by dividing net income attributable to the Company by the weighted-average number of shares outstanding for the period. Prior to the Hamm Family's take-private transaction, in periods where the Company had net income, diluted earnings per share reflected the potential dilution of non-vested restricted stock awards, which was calculated using the treasury stock method. The following table presents the calculation of basic and diluted weighted average shares outstanding and net income per share attributable to the Company for the three and six months ended June 30, 2023. Three months ended June 30, Six months ended June 30, In thousands, except per share data 2023 2022 2023 2022 Net income attributable to Continental Resources (numerator) $ 690,813 $ 1,208,747 $ 1,575,110 $ 1,806,504 Weighted average shares (denominator): Weighted average shares - basic 299,610 357,575 299,610 357,871 Non-vested restricted stock and long-term incentive awards (1) — 3,618 4,154 Weighted average shares - diluted 299,610 361,193 299,610 362,025 Net income per share attributable to Continental Resources: Basic $ 2.31 $ 3.38 $ 5.26 $ 5.05 Diluted $ 2.31 $ 3.35 $ 5.26 $ 4.99 (1) At June 30, 2023 , the Company's outstanding long-term incentive awards are expected to be paid in cash, not common stock, upon vesting and are classified as liability awards pursuant to ASC Topic 718, Compensation—Stock Compensation. As a result, no potential dilutive effect for the awards is presented for the three and six months ended June 30, 2023 .

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Calculation of Basic and Diluted Weighted Average Shares and Net Income Per Share	The following table presents the calculation of basic and diluted weighted average shares outstanding and net income per share attributable to the Company for the three and six months ended June 30, 2023. Three months ended June 30, Six months ended June 30, In thousands, except per share data 2023 2022 2023 2022 Net income attributable to Continental Resources (numerator) $ 690,813 $ 1,208,747 $ 1,575,110 $ 1,806,504 Weighted average shares (denominator): Weighted average shares - basic 299,610 357,575 299,610 357,871 Non-vested restricted stock and long-term incentive awards (1) — 3,618 4,154 Weighted average shares - diluted 299,610 361,193 299,610 362,025 Net income per share attributable to Continental Resources: Basic $ 2.31 $ 3.38 $ 5.26 $ 5.05 Diluted $ 2.31 $ 3.35 $ 5.26 $ 4.99 (1) At June 30, 2023 , the Company's outstanding long-term incentive awards are expected to be paid in cash, not common stock, upon vesting and are classified as liability awards pursuant to ASC Topic 718, Compensation—Stock Compensation. As a result, no potential dilutive effect for the awards is presented for the three and six months ended June 30, 2023 .

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
Supplemental Cash Flow Information (Tables)	Jun. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Summary of Supplemental Cash Flow Information	The following table discloses supplemental cash flow information about cash paid for interest and income tax payments and refunds. Also disclosed is information about investing activities that affects recognized assets and liabilities but does not result in cash receipts or payments. Six months ended June 30, In thousands 2023 2022 Supplemental cash flow information: Cash paid for interest $ 203,256 $ 135,018 Cash paid for income taxes (1) 346,253 250,145 Cash received for income tax refunds 2 13 Non-cash investing activities: Asset retirement obligation additions and revisions, net 641 24,790 (1) Amounts represent estimated quarterly payments for U.S. federal and state income taxes based on estimates of taxable income for the year.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
Revenues (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents the disaggregation of the Company's crude oil and natural gas revenues by operating area for the three and six months ended June 30, 2023 and 2022. Sales of natural gas and NGLs are combined, as a substantial majority of the Company's natural gas sales contracts represent wellhead sales of unprocessed gas. Three months ended June 30, 2023 Three months ended June 30, 2022 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 846,326 $ 59,783 $ 906,109 $ 1,071,043 $ 253,607 $ 1,324,650 Anadarko Basin 265,008 138,578 403,586 329,666 529,353 859,019 Powder River Basin 95,422 7,847 103,269 161,644 38,216 199,860 Permian Basin 312,968 16,853 329,821 336,532 46,258 382,790 All other 46,802 34 46,836 62,596 258 62,854 Crude oil, natural gas, and natural gas liquids sales $ 1,566,526 $ 223,095 $ 1,789,621 $ 1,961,481 $ 867,692 $ 2,829,173 Six months ended June 30, 2023 Six months ended June 30, 2022 In thousands Crude Oil Natural Gas Total Crude Oil Natural Gas Total Bakken $ 1,643,245 $ 212,668 $ 1,855,913 $ 2,034,360 $ 493,475 $ 2,527,835 Anadarko Basin 465,989 358,798 824,787 610,828 872,710 1,483,538 Powder River Basin 196,170 22,104 218,274 241,558 46,508 288,066 Permian Basin 556,574 35,706 592,280 598,916 84,683 683,599 All other 89,984 103 90,087 119,667 729 120,396 Crude oil, natural gas, and natural gas liquids sales $ 2,951,962 $ 629,379 $ 3,581,341 $ 3,605,329 $ 1,498,105 $ 5,103,434

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Jun. 30, 2023
Summary of Outstanding Contracts with Respect to Natural Gas	At June 30, 2023 the Company had outstanding derivative contracts as set forth in the tables below. Natural gas derivatives Weighted Average Hedge Price ($/MMBtu) Period and Type of Contract Average Volumes Hedged Basis Swaps Swaps Floor Ceiling July 2023 - December 2023 Basis Swaps - NGPL TXOK 75,000 MMBtus/day $ ( 0.17 ) July 2023 - Sept 2023 Swaps - Henry Hub 615,000 MMBtus/day $ 3.49 Swaps - WAHA 70,000 MMBtus/day $ 2.74 October 2023 - December 2023 Swaps - Henry Hub 420,000 MMBtus/day $ 3.70 Collars - Henry Hub 200,000 MMBtus/day $ 3.12 $ 4.09 Swaps - WAHA 70,000 MMBtus/day $ 2.74 January 2024 - December 2024 Swaps - Henry Hub 618,000 MMBtus/day $ 3.44 Collars - Henry Hub 50,000 MMBtus/day $ 3.12 $ 4.09 Swaps - WAHA 42,000 MMBtus/day $ 3.08 January 2025 - December 2025 Swaps - Henry Hub 545,000 MMBtus/day $ 3.93 January 2026 - December 2026 Swaps - Henry Hub 450,000 MMBtus/day $ 4.13 Crude oil derivatives Weighted Average Period and Type of Contract Average Volumes Hedged Roll Swaps Fixed Swaps June 2023 - December 2023 Roll Swaps - NYMEX 12,000 Bbls/day $ 1.07 Fixed Swaps - WTI 76,000 Bbls/day $ 78.71 January 2024 - March 2024 Fixed Swaps - WTI 68,000 Bbls/day $ 78.19
Realized and Unrealized Gains and Losses on Derivative Instruments	Three months ended June 30, Six months ended June 30, In thousands 2023 2022 2023 2022 Cash received (paid) on derivatives: Crude oil fixed price swaps $ 34,653 $ — $ 39,751 $ — Crude oil NYMEX roll swaps 1,167 ( 5,592 ) 2,567 ( 7,072 ) Natural gas basis swaps 625 1,563 1,982 $ 1,491 Natural gas WAHA swaps 9,351 — 9,363 — Natural gas fixed price swaps 77,924 ( 137,354 ) 93,626 ( 141,583 ) Natural gas collars — ( 13,917 ) 24,380 $ ( 13,917 ) Natural gas 3-way collars — — 3,741 $ ( 16,459 ) Cash received (paid) on derivatives, net 123,720 ( 155,300 ) 175,410 ( 177,540 ) Non-cash gain (loss) on derivatives: Crude oil fixed price swaps 74,090 — 152,629 — Crude oil NYMEX roll swaps ( 109 ) ( 8,519 ) ( 717 ) ( 16,159 ) Natural gas basis swaps 140 ( 1,321 ) ( 6,601 ) 4,792 Natural gas WAHA swaps ( 26,430 ) ( 395 ) ( 10,759 ) ( 14,073 ) Natural gas fixed price swaps 50,299 ( 40,819 ) 265,991 ( 368,494 ) Natural gas collars 1,417 7,978 30,551 ( 90,258 ) Natural gas 3-way collars — 2,632 ( 598 ) ( 9,950 ) Non-cash gain (loss) on derivatives, net 99,407 ( 40,444 ) 430,496 ( 494,142 ) Gain (loss) on derivative instruments, net $ 223,127 $ ( 195,744 ) $ 605,906 $ ( 671,682 )
Gross Amounts of Recognized Derivative Assets and Liabilities	The following table presents the gross amounts of recognized derivative assets and liabilities, as applicable, the amounts offset under netting arrangements with counterparties, and the resulting net amounts presented in the condensed consolidated balance sheets for the periods presented, all at fair value. In thousands June 30, 2023 December 31, 2022 Commodity derivative assets: Gross amounts of recognized assets $ 306,373 $ 50,559 Gross amounts offset on balance sheet ( 22,673 ) ( 7,731 ) Net amounts of assets on balance sheet 283,700 42,828 Commodity derivative liabilities: Gross amounts of recognized liabilities ( 54,548 ) ( 229,230 ) Gross amounts offset on balance sheet 22,673 7,731 Net amounts of liabilities on balance sheet $ ( 31,875 ) $ ( 221,499 )
Derivatives Not Designated as Hedging Instruments	The following table reconciles the net amounts disclosed above to the individual financial statement line items in the condensed consolidated balance sheets. In thousands June 30, 2023 December 31, 2022 Derivative assets $ 246,684 $ 39,280 Derivative assets, noncurrent 37,016 3,548 Net amounts of assets on balance sheet 283,700 42,828 Derivative liabilities — ( 88,136 ) Derivative liabilities, noncurrent ( 31,875 ) ( 133,363 ) Net amounts of liabilities on balance sheet ( 31,875 ) ( 221,499 ) Total derivative assets (liabilities), net $ 251,825 $ ( 178,671 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Valuation of Financial Instruments by Pricing Levels	The following tables summarize the valuation of derivative instruments by pricing levels that were accounted for at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. Fair value measurements at June 30, 2023 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 164,325 $ — $ 164,325 Crude oil NYMEX roll swaps — 2,119 — 2,119 Natural gas basis swaps — 2,309 — 2,309 Natural gas WAHA swaps — 8,627 — 8,627 Natural gas fixed price swaps — 74,212 — 74,212 Natural gas collars — 233 — 233 Total $ — $ 251,825 $ — $ 251,825 Fair value measurements at December 31, 2022 using: In thousands Level 1 Level 2 Level 3 Total Derivative assets (liabilities): Crude oil fixed price swaps $ — $ 11,696 $ — $ 11,696 Crude oil NYMEX roll swaps — 2,836 — 2,836 Natural gas basis swaps — 8,910 — 8,910 Natural gas WAHA swaps — 19,386 — 19,386 Natural gas fixed price swaps — ( 191,779 ) — ( 191,779 ) Natural gas collars — ( 30,318 ) — ( 30,318 ) Natural gas 3-way collars — 598 — 598 Total $ — $ ( 178,671 ) $ — $ ( 178,671 )

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	The Company's debt, net of unamortized discounts, premiums, and debt issuance costs totaling $ 45.5 million and $ 49.6 million at June 30, 2023 and December 31, 2022, respectively, consists of the following. In thousands June 30, 2023 December 31, 2022 Credit facility $ 1,621,000 $ 1,160,000 Term Loan 747,583 747,073 Notes payable 18,852 20,041 4.5 % Senior Notes due 2023 — 635,648 3.8 % Senior Notes due 2024 (1) 892,001 891,404 2.268 % Senior Notes due 2026 794,797 794,062 4.375 % Senior Notes due 2028 993,694 993,076 5.75 % Senior Notes due 2031 1,484,639 1,483,843 2.875 % Senior Notes due 2032 792,605 792,238 4.9 % Senior Notes due 2044 692,357 692,255 Total debt $ 8,037,528 $ 8,209,640 Less: Current portion of long-term debt (1) 894,452 638,058 Long-term debt, net of current portion $ 7,143,076 $ 7,571,582 (1) The Company's 2024 Notes, which have a face value of $ 893.1 million at June 30, 2023, are scheduled to mature on June 1, 2024 and, accordingly, are included as a current liability in the caption "Current portion of long-term debt" in the condensed consolidated balance sheets as of June 30, 2023.
Summary of Maturity Dates, Semi-Annual Interest Payment Dates, and Optional Redemption Periods of Outstanding Senior Note Obligations	The following table summarizes the face values, maturity dates, semi-annual interest payment dates, and optional redemption periods related to the Company’s outstanding senior note obligations at June 30, 2023. 2024 Notes 2026 Notes 2028 Notes 2031 Notes 2032 Notes 2044 Notes Face value (in thousands) $ 893,126 $ 800,000 $ 1,000,000 $ 1,500,000 $ 800,000 $ 700,000 Maturity date June 1, 2024 November 15, 2026 January 15, 2028 January 15, 2031 April 1, 2032 June 1, 2044 Interest payment dates June 1, Dec 1 May 15, Nov 15 Jan 15, July 15 Jan 15, Jul 15 April 1, Oct 1 June 1, Dec 1 Make-whole redemption period (1) Mar 1, 2024 Nov 15, 2023 Oct 15, 2027 Jul 15, 2030 January 1. 2032 Dec 1, 2043 (1) At any time prior to the indicated dates, the Company has the option to redeem all or a portion of its senior notes of the applicable series at the “make-whole” redemption amounts specified in the respective senior note indentures plus any accrued and unpaid interest to the date of redemption. On or after the indicated dates, the Company may redeem all or a portion of its senior notes at a redemption amount equal to 100 % of the principal amount of the senior notes being redeemed plus any accrued and unpaid interest to the date of redemption.

Organization and Nature of Bu_2

Organization and Nature of Business - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023
Results of Operations for Oil and Gas Producing Activities, by Geographic Area [Line Items]
Percentage of crude oil and natural gas production concentrated in crude oil	52%
Percentage of crude oil and natural gas revenue concentrated in crude oil	82%

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income attributable to Continental Resources (numerator) (1)
Net income attributable to Continental Resources (numerator) (1)		$ 690,813	$ 1,208,747	$ 1,575,110	$ 1,806,504
Weighted average shares - basic		299,610,000	357,575,000	299,610,000	357,871,000
Non-vested restricted stock and long-term incentive awards (1)	[1]	0	3,618,000		4,154,000
Weighted average shares - diluted		299,610,000	361,193,000	299,610,000	362,025,000
Net income per share attributable to Continental Resources: (1)
Basic (in dollars per share)		$ 2.31	$ 3.38	$ 5.26	$ 5.05
Diluted (in dollars per share)		$ 2.31	$ 3.35	$ 5.26	$ 4.99
Weighted Average Number Diluted Shares Outstanding Adjustment				0

[1] At June 30, 2023 , the Company's outstanding long-term incentive awards are expected to be paid in cash, not common stock, upon vesting and are classified as liability awards pursuant to ASC Topic 718, Compensation—Stock Compensation. As a result, no potential dilutive effect for the awards is presented for the three and six months ended June 30, 2023 .

Property Acquisitions (Details)

Property Acquisitions (Details) - USD ($) $ in Millions	1 Months Ended
Property Acquisitions (Details) - USD ($) $ in Millions	Mar. 31, 2023	Apr. 30, 2022	Mar. 31, 2022
Permian Basin
Asset Acquisition [Line Items]
Costs Incurred, Acquisition of Oil and Gas Properties		$ 197
Powder River Basin
Asset Acquisition [Line Items]
Costs Incurred, Acquisition of Oil and Gas Properties			$ 403
Asset acquisition recognition of proved crude oil and natural gas properties			381.3
Asset acquisition recognition of unproved crude oil and natural gas properties			$ 21.7
Anadarko Basin
Asset Acquisition [Line Items]
Costs Incurred, Acquisition of Oil and Gas Properties	$ 178
Asset acquisition recognition of proved crude oil and natural gas properties	84
Asset acquisition recognition of unproved crude oil and natural gas properties	$ 94

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands		6 Months Ended		12 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes (1)	[1]	$ 346,253	$ 250,145
Cash received for income tax refunds		2	0
Noncash Investing and Financing Items [Abstract]
Accrued capital expenditures		403,700		$ 344,900
Increase (Decrease) in Asset Retirement Obligations		641	24,790
Interest Paid, Excluding Capitalized Interest, Operating Activities		$ 203,256	$ 135,018

[1] Amounts represent estimated quarterly payments for U.S. federal and state income taxes based on estimates of taxable income for the year.

Revenues Disaggregation of Reve

Revenues Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	$ 1,789,621	$ 2,829,173	$ 3,581,341	$ 5,103,434
Bakken
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	906,109	1,324,650	1,855,913	2,527,835
Anadarko Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	403,586	859,019	824,787	1,483,538
Powder River Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	103,269	199,860	218,274	288,066
Permian Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	329,821	382,790	592,280	683,599
Other [Member]
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	46,836	62,854	90,087	120,396
Crude oil sales
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	1,566,526	1,961,481	2,951,962	3,605,329
Crude oil sales \| Bakken
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	846,326	1,071,043	1,643,245	2,034,360
Crude oil sales \| Anadarko Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	265,008	329,666	465,989	610,828
Crude oil sales \| Powder River Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	95,422	161,644	196,170	241,558
Crude oil sales \| Permian Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	312,968	336,532	556,574	598,916
Crude oil sales \| Other [Member]
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	46,802	62,596	89,984	119,667
Natural gas sales
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	223,095	867,692	629,379	1,498,105
Natural gas sales \| Bakken
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	59,783	253,607	212,668	493,475
Natural gas sales \| Anadarko Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	138,578	529,353	358,798	872,710
Natural gas sales \| Powder River Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	7,847	38,216	22,104	46,508
Natural gas sales \| Permian Basin
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	16,853	46,258	35,706	84,683
Natural gas sales \| Other [Member]
Disaggregation of Revenue [Line Items]
Crude oil, natural gas, and natural gas liquids sales	$ 34	$ 258	$ 103	$ 729

Derivative Instruments - Summar

Derivative Instruments - Summary of Outstanding Contracts with Respect to Natural Gas and Crude Oil (Detail)	6 Months Ended
	Jun. 30, 2023 MMBTU $ / MMBTU $ / bbl bbl
July 2023 - December 2023 NGPL Basis Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	75,000
Swaps Weighted Average Price	(0.17)
July 2023 to Sept 2023 Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	615,000
Swaps Weighted Average Price	3.49
July 2023 to Sept 2023 WAHA Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	70,000
Swaps Weighted Average Price	2.74
October 2023 to December 2023 Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	420,000
Swaps Weighted Average Price	3.7
October 2023 to December 2023 Collar \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	200,000
Derivative, Average Floor Price	3.12
Derivative, Average Cap Price	4.09
October 2023 to December 2023 WAHA Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	70,000
Swaps Weighted Average Price	2.74
Jan 2024 to Dec 2024 Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	618,000
Swaps Weighted Average Price	3.44
Jan 2024 to Dec 2024 Collars \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	50,000
Derivative, Average Floor Price	3.12
Derivative, Average Cap Price	4.09
Jan 2024 to Dec 2024 WAHA Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	42,000
Swaps Weighted Average Price	3.08
Jan 2025 to Dec 2025 Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	545,000
Swaps Weighted Average Price	3.93
Jan 2026 to Dec 2026 Swaps \| Natural Gas [Member]
Derivative [Line Items]
Natural Gas Production Derivative Volume, MMBtus \| MMBTU	450,000
Swaps Weighted Average Price	4.13
June 2023 to December 2023 NYMEX Roll Swaps \| Crude Oil [Member]
Derivative [Line Items]
Swaps Weighted Average Price \| $ / bbl	1.07
Crude oil production volume hedged \| bbl	12,000
June 2023 to December 2023 Fixed Swaps WTI \| Crude Oil [Member]
Derivative [Line Items]
Swaps Weighted Average Price \| $ / bbl	78.71
Crude oil production volume hedged \| bbl	76,000
Jan 2024 to Mar 2024 W T I Fixed Swaps \| Crude Oil [Member]
Derivative [Line Items]
Swaps Weighted Average Price \| $ / bbl	78.19
Crude oil production volume hedged \| bbl	68,000

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gains and Losses on Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net			$ 430,496	$ (494,142)
Gain (loss) on derivative instruments, net	$ 223,127	$ (195,744)	605,906	(671,682)
Swap [Member] \| Crude Oil [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	34,653	0	39,751	0
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	74,090	0	152,629	0
Swap [Member] \| Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	77,924	(137,354)	93,626	(141,583)
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	50,299	(40,819)	265,991	(368,494)
NYMEX roll swaps \| Crude Oil [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	1,167	(5,592)	2,567	(7,072)
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	(109)	(8,519)	(717)	(16,159)
Basis swaps \| Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	625	1,563	1,982	1,491
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	140	(1,321)	(6,601)	4,792
WAHA Swaps \| Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	9,351	0	9,363	0
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	(26,430)	(395)	(10,759)	(14,073)
Collars [Member] \| Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	0	(13,917)	24,380	(13,917)
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	1,417	7,978	30,551	(90,258)
Three way collar \| Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	0	0	3,741	(16,459)
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	0	2,632	(598)	(9,950)
Crude Oil and Natural Gas [Member]
Cash received (paid) on derivatives:
Cash received (paid) on derivatives, net	123,720	(155,300)	175,410	(177,540)
Non-cash gain (loss) on derivatives:
Non-cash gain (loss) on derivatives, net	99,407	(40,444)	430,496	(494,142)
Gain (loss) on derivative instruments, net	$ 223,127	$ (195,744)	$ 605,906	$ (671,682)

Derivative Instruments - Gross

Derivative Instruments - Gross Amounts of Recognized Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross amounts of recognized assets	$ 306,373	$ 50,559
Gross amounts offset on balance sheet	(22,673)	(7,731)
Net amounts of assets on balance sheet	283,700	42,828
Gross amounts of recognized liabilities	(54,548)	(229,230)
Gross amounts offset on balance sheet	22,673	7,731
Net amounts of liabilities on balance sheet	$ (31,875)	$ (221,499)

Derivative Instruments - Reconc

Derivative Instruments - Reconciles Net Amounts Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets	$ 246,684	$ 39,280
Noncurrent derivative assets	37,016	3,548
Net amounts of assets on balance sheet	283,700	42,828
Derivative liabilities	0	(88,136)
Derivative liabilities, noncurrent	(31,875)	(133,363)
Net amounts of liabilities on balance sheet	(31,875)	(221,499)
Total derivative assets (liabilities), net	$ 251,825	$ (178,671)

Fair Value Measurements - Valua

Fair Value Measurements - Valuation of Financial Instruments by Pricing Levels (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative assets (liabilities):
Derivative assets (liabilities)	$ 251,825	$ (178,671)
Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	164,325	11,696
Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	74,212	(191,779)
Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	(233)	(30,318)
NYMEX roll swaps
Derivative assets (liabilities):
Derivative assets (liabilities)	2,119	2,836
Natural Gas Basis Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	2,309	8,910
Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	8,627	19,386
Natural gas 3-way collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)		598
Fair Value, Inputs, Level 1 [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| NYMEX roll swaps
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| Natural Gas Basis Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 1 [Member] \| Natural gas 3-way collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)		0
Fair Value, Inputs, Level 2 [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	251,825	(178,671)
Fair Value, Inputs, Level 2 [Member] \| Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	164,325	11,696
Fair Value, Inputs, Level 2 [Member] \| Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	74,212	(191,779)
Fair Value, Inputs, Level 2 [Member] \| Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	(233)	(30,318)
Fair Value, Inputs, Level 2 [Member] \| NYMEX roll swaps
Derivative assets (liabilities):
Derivative assets (liabilities)	2,119	2,836
Fair Value, Inputs, Level 2 [Member] \| Natural Gas Basis Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	2,309	8,910
Fair Value, Inputs, Level 2 [Member] \| Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	8,627	19,386
Fair Value, Inputs, Level 2 [Member] \| Natural gas 3-way collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)		598
Fair Value, Inputs, Level 3 [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] \| Crude Oil Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] \| Natural Gas Fixed Price Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] \| Collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] \| NYMEX roll swaps
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] \| Natural Gas Basis Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	0	0
Fair Value, Inputs, Level 3 [Member] \| Natural Gas WAHA Swaps [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)	$ 0	0
Fair Value, Inputs, Level 3 [Member] \| Natural gas 3-way collars [Member]
Derivative assets (liabilities):
Derivative assets (liabilities)		$ 0

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Apr. 14, 2023	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net		$ 45,500	$ 49,600
Aggregate amount of lender commitments on credit facility		$ 2,255,000
Redemption percentage		100%
Line of credit facility, commitment fee percentage, per annum		0.20%
Line of Credit Facility, Covenant Terms		0.65
Term Loan
Debt Instrument [Line Items]
Term Loan		$ 750,000
Debt Instrument, stated interest rate		6.70%
2023 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Repurchased Face Amount	$ 636,000
Redemption percentage	100%
Redemption amount	$ 650,300
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity		$ 633,000
Carrying Amount
Debt Instrument [Line Items]
Credit facility		$ 1,621,000	1,160,000
Debt, Weighted Average Interest Rate		6.80%
Term Loan		$ 747,583	$ 747,073
Carrying Amount \| Hamm Family [Member]
Debt Instrument [Line Items]
Credit facility		$ 1,620,000

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	6 Months Ended
Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: Current portion of long-term debt	$ 894,452	$ 638,058
Long-term debt, net of current portion	$ 7,143,076	7,571,582
4.5% Senior Notes due 2023
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	4.50%
Debt Instrument, Maturity Date, Description	2023
3.8% Senior Notes due 2024
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	3.80%
Debt Instrument, Maturity Date, Description	2024
Senior Notes due 2031
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	5.75%
Debt Instrument, Maturity Date, Description	2031
2.268% Senior Notes due 2026
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	2.268%
Debt Instrument, Maturity Date, Description	2026
4.375% Senior Notes due 2028
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	4.375%
Debt Instrument, Maturity Date, Description	2028
2.875% Senior Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	2.875%
Debt Instrument, Maturity Date, Description	2032
4.9% Senior Notes due 2044
Debt Instrument [Line Items]
Debt Instrument, stated interest rate	4.90%
Debt Instrument, Maturity Date, Description	2044
Carrying Amount
Debt Instrument [Line Items]
Credit facility	$ 1,621,000	1,160,000
Term Loan	747,583	747,073
Notes payable	18,852	20,041
Total debt	8,037,528	8,209,640
Carrying Amount \| 4.5% Senior Notes due 2023
Debt Instrument [Line Items]
Senior notes	0	635,648
Carrying Amount \| 3.8% Senior Notes due 2024
Debt Instrument [Line Items]
Senior notes	892,001	891,404
Carrying Amount \| Senior Notes due 2031
Debt Instrument [Line Items]
Senior notes	1,484,639	1,483,843
Carrying Amount \| 2.268% Senior Notes due 2026
Debt Instrument [Line Items]
Senior notes	794,797	794,062
Carrying Amount \| 4.375% Senior Notes due 2028
Debt Instrument [Line Items]
Senior notes	993,694	993,076
Carrying Amount \| 2.875% Senior Notes due 2032
Debt Instrument [Line Items]
Senior notes	792,605	792,238
Carrying Amount \| 4.9% Senior Notes due 2044
Debt Instrument [Line Items]
Senior notes	$ 692,357	$ 692,255

Debt - Long-Term Debt (Parenthe

Debt - Long-Term Debt (Parenthetical) (Details) - 2024 Notes [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 893,126
Maturity date	Jun. 01, 2024

Debt - Summary of Maturity Date

Debt - Summary of Maturity Dates, Semi-Annual Interest Payment Dates, and Optional Redemption Periods of Outstanding Senior Note Obligations (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
2024 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 893,126
Debt Instrument, Maturity Date	Jun. 01, 2024
Interest payment dates	June 1, Dec 1
Debt Instrument, Redemption Period, Start Date	Mar. 01, 2024
2026 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 800,000
Debt Instrument, Maturity Date	Nov. 15, 2026
Interest payment dates	May 15, Nov 15
Debt Instrument, Redemption Period, Start Date	Nov. 15, 2023
2028 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000
Debt Instrument, Maturity Date	Jan. 15, 2028
Interest payment dates	Jan 15, July 15
Debt Instrument, Redemption Period, Start Date	Oct. 15, 2027
Senior Notes due 2031
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500,000
Debt Instrument, Maturity Date	Jan. 15, 2031
Interest payment dates	Jan 15, Jul 15
Debt Instrument, Redemption Period, Start Date	Jul. 15, 2030
Senior Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 800,000
Debt Instrument, Maturity Date	Apr. 01, 2032
Interest payment dates	April 1, Oct 1
Debt Instrument, Redemption Period, Start Date	Jan. 01, 2032
2044 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 700,000
Debt Instrument, Maturity Date	Jun. 01, 2044
Interest payment dates	June 1, Dec 1
Debt Instrument, Redemption Period, Start Date	Dec. 01, 2043

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Long-term Purchase Commitment [Line Items]
Purchase Obligation Agreement Expiration Date	2031
Purchase Obligation	$ 975
Purchase Obligation, to be Paid, Year Two	291
Purchase Obligation, to be Paid, Year Three	164
Purchase Obligation, to be Paid, Year Four	139
Purchase Obligation, to be Paid, Year Five	136
Purchase Obligation, to be Paid, after Year Five	78
Purchase Obligation, to be Paid, Year One	$ 167

Incentive Compensation - Additi

Incentive Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 11.3	$ 14.8	$ 12.3	$ 44.1
Unrecognized liabilities and compensation expense related to unvested awards	130		$ 130
Unrecognized compensation expense related to non-vested, period for recognition, in years			1 year 8 months 12 days
Current Portion of Incentive Compensation Liability [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability related settlement of awards	87.6		$ 87.6
Incentive Compensation Liability, Net of Current Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability related settlement of awards	$ 22.3		$ 22.3