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Financial Instruments and Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Price Risk Derivatives | At December 31, 2024 volumes per day associated with outstanding natural gas derivative contracts and the weighted average prices for these contracts are as follows:
NYMEX Henry Hub | Area | Commodity | Volumes MMCF/d | Price/MCF | Start Date | End Date
Fixed price derivative swap | United States | Natural gas | 20 | $ | 3.20 |  | 1/1/2025 | 1/31/2025
Subsequent to year end, the Company entered into additional natural gas derivative contracts. Volumes per day and the weighted average prices for these contracts are as follows:
NYMEX Henry Hub | Area | Commodity | Volumes MMCF/d | Price/MCF | Start Date | End Date
Fixed price derivative swap | United States | Natural gas | 40 | $ | 3.58 |  | 2/1/2025 | 6/30/2025
Fixed price derivative swap | United States | Natural gas | 60 | $ | 3.65 |  | 7/1/2025 | 9/30/2025
Fixed price derivative swap | United States | Natural gas | 60 | $ | 3.74 |  | 10/1/2025 | 12/31/2025
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | At December 31, 2024 and 2023, the fair value of derivative instruments not designated as hedging instruments are presented in the following table. See also Note O.
(Thousands of dollars) |  | Asset (Liability) Derivatives Fair Value at December 31,
Type of Derivative Contract |  | Balance Sheet Location |  | 2024 |  | 2023
Commodity swaps |  | Accounts payable |  | $ | (1,707) |  |  | — |
Schedule of Recognized Gains and Losses for Derivative Instruments Not Designated as Hedging Instruments | The gains and losses recognized in the Consolidated Statements of Operations for derivative instruments not designated as hedging instruments for each of the three years presented are shown in the following table.
|  |  |  | Gain (Loss)
(Thousands of dollars) |  |  |  | Year Ended December 31,
Type of Derivative Contract |  | Statement of Operations Locations |  | 2024 |  | 2023 |  | 2022
Commodity swaps |  | Loss on derivative instruments |  | $ | (1,707) |  |  | $ | — |  |  | $ | (160,690) |
Commodity collars |  | Loss on derivative instruments |  | — |  |  | — |  |  | (159,721) |

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