Leases (Tables)

12 Months Ended

Dec. 31, 2025

The Company accounts for lease and non-lease components in its contracts as a single lease component for all asset classes. Additionally, the Company does not apply the recognition requirements of ASC Topic 842 to leases with durations of twelve months or less and uses hindsight in determining the lease term for all leases. The Company’s leasing activities as a lessor are negligible.


	December 31,
In thousands	2025		2024
Surface use agreements	$	15,332	$	16,370
Field equipment		13,223		3,034
Other		371		465
Total	$	28,926	$	19,869

Summary of Maturities of Operating Leases

Minimum future commitments by year for the Company’s operating leases as of December 31, 2025 are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized on the balance sheet.


In thousands	Amount
2026		11,451
2027		5,858
2028		1,746
2029		1,749
2030		1,749
Thereafter		12,984
Total operating lease liabilities, at undiscounted value	$	35,537
Less: Imputed interest		(6,611	)
Total operating lease liabilities, at discounted present value	$	28,926
Less: Current portion of operating lease liabilities		(10,225	)
Operating lease liabilities, noncurrent	$	18,701

Summary of Lease Cost


	Year ended December 31,
In thousands, except weighted average data	2025			2024			2023
Lease costs:
Operating lease costs	$	14,185		$	20,073		$	13,121
Variable lease costs		2,698			1,174			896
Short-term lease costs		166,886			180,830			168,680
Total lease costs	$	183,769		$	202,077		$	182,697

Other information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,147		$	1,097		$	24,949
Operating cash flows from operating leases included in lease liabilities		14,087			20,076			13,166
Weighted average remaining lease term as of December 31 (in years)		7.4			11.1			6.9
Weighted average discount rate as of December 31		4.7	%		4.8	%		4.7	%

CONTINENTAL RESOURCES, INC 10-K