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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Financial Instruments [Abstract]

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments

The following table presents the carrying amounts, net of discount and deferred financing costs, and estimated fair values of the Company’s debt instruments (in thousands):

	June 30, 2026						December 31, 2025
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
9.000% Second-Priority Senior Secured Notes	$	615,629		$	651,313		$	614,058		$	649,425
9.375% Second-Priority Senior Secured Notes	$	613,135		$	656,713		$	612,131		$	656,250

Schedule of Impact that Derivatives not Qualifying as Hedging Instruments in Condensed Consolidated Statements of Operations

The following table presents the impact that derivatives, not designated as hedging instruments, had on its Condensed Consolidated Statements of Operations (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Net cash received (paid) on settled derivative instruments	$	(74,146	)	$	33,315		$	(96,616	)	$	38,482
Unrealized gain (loss)		104,695			53,540			(46,382	)		32,520
Price risk management activities income (expense)	$	30,549		$	86,855		$	(142,998	)	$	71,002

Schedule of Contracted Volumes and Weighted Average Prices and will Receive Under the Terms of Derivative Contracts

The following tables reflect the contracted average daily volumes and weighted average prices under the terms of the Company's derivative contracts as of June 30, 2026:

Swap Contracts
Production Period	Settlement Index	Volumes			Swap Price
Crude oil:		(Bbls)			(per Bbl)
July 2026 – December 2026	NYMEX WTI CMA		3,842		$	65.03
January 2027 – June 2027	NYMEX WTI CMA		4,000		$	73.75
Natural gas:		(MMBtu)			(per MMBtu)
July 2026 – December 2026	NYMEX Henry Hub		28,342		$	3.64

Two-Way Collar Contracts
Production Period	Settlement Index	Volumes			Floor Price			Ceiling Price
Crude oil:		(Bbls)			(per Bbl)			(per Bbl)
July 2026 – December 2026	NYMEX WTI CMA		20,326		$	60.90		$	72.83
January 2027 – June 2027	NYMEX WTI CMA		13,972		$	62.16		$	76.71
Natural gas:		(MMBtu)			(per MMBtu)			(per MMBtu)
January 2027 – March 2027	NYMEX Henry Hub		35,000		$	3.51		$	5.00

Summary of Additional Information Related to Financial Instruments Measured at Fair Value on Recurring Basis

The following tables provide additional information related to financial instruments measured at fair value on a recurring basis (in thousands):

	June 30, 2026
	Level 1			Level 2			Level 3			Total
Assets:
Oil and natural gas derivatives	$	—		$	28,834		$	—		$	28,834
Liabilities:
Oil and natural gas derivatives		—			(27,504	)		—			(27,504	)
Total net asset (liability)	$	—		$	1,330		$	—		$	1,330

	December 31, 2025
	Level 1			Level 2			Level 3			Total
Assets:
Oil and natural gas derivatives	$	—		$	54,420		$	—		$	54,420
Liabilities:
Oil and natural gas derivatives		—			(6,708	)		—			(6,708	)
Total net asset (liability)	$	—		$	47,712		$	—		$	47,712

Schedule of Fair Value of Derivative Financial Instruments

The following table presents the fair value of derivative financial instruments as well as the potential effect of netting arrangements on the Company's recognized derivative asset and liability amounts (in thousands):

	June 30, 2026						December 31, 2025
	Assets			Liabilities			Assets			Liabilities
Oil and natural gas derivatives:
Current	$	28,834		$	27,504		$	54,420		$	6,708
Total gross amounts presented on balance sheet		28,834			27,504			54,420			6,708
Less: Gross amounts not offset on the balance sheet		24,210			24,210			6,708			6,708
Net amounts	$	4,624		$	3,294		$	47,712		$	—

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Financial instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
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-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 4A
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-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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Tabular disclosure of price risk derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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