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Acquisition (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Preliminary Adjusted Purchase Consideration

The following table presents the preliminary adjusted purchase consideration (in thousands):

Consideration:
Purchase consideration as per Sable-EM Purchase Agreement			$	625,000
Plus:
Paid-in-kind interest from effective date to closing*			140,018
Materials and supplies*			16,637
Cash consideration paid			204,154
Preliminary adjusted purchase consideration			$	985,809

*Included in the initial principal associated with the Senior Secured Term Loan.

Schedule of Identified Assets Acquired and Liabilities Assumed

The following table represents the allocation of the total purchase price for the acquisition of the identifiable assets acquired and the liabilities assumed at the acquisition date (in thousands):

Total consideration			$	985,809
Fair value of assets acquired:
Oil and gas properties			$	1,060,583
Materials and supplies			16,637
Other assets			4,621
Amount attributable to assets acquired			$	1,081,841
Fair value of liabilities assumed:
Asset retirement obligations			$	90,073
Other current liabilities			827
Deferred tax liability			1,209
Other long term liabilities			3,923
Amounts attributable to liabilities assumed			96,032
Net assets acquired and liabilities assumed			$	985,809

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- References

No definition available.

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

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