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Subsequent events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent events

Subsequent Events

On February 15, 2024, the Company's Board of Directors declared a cash dividend of $0.11 per share for the first quarter of 2024. The dividend will be paid on March 15, 2024 to stockholders of record as of March 1, 2024.

In February 2024, the Company entered into oil collars for the first half of 2025 for 166,852 Bbls with a floor price of $59.00 per Bbl and a ceiling price of $77.30 per Bbl. In addition, the Company entered into natural gas swaps for 1,162,050 Mcf for the second quarter of 2025 at a swap price of $3.02 per Mcf. The following table sets forth the Company’s outstanding commodity derivative contracts as of March 7, 2024.

			2024																														2025
			First Quarter						Second Quarter						Third Quarter						Fourth Quarter						Total						Total
Collar (oil)
Volume (Bbl)			461,524						401,874						361,552						311,496						1,536,446						439,852
Weighted-average floor price ($/Bbl)			$	64.22					$	64.27					$	64.32					$	64.13					$	64.24					$	61.48
Weighted-average ceiling price ($/Bbl)			$	84.99					$	85.11					$	85.24					$	84.97					$	85.07					$	80.65
Swaps (oil)
Volume (Bbl)			62,000						48,000						39,000						32,000						181,000						—
Weighted-average price ($/Bbl)			$	80.00					$	80.00					$	80.00					$	80.00					$	80.00					$	—
Collar (natural gas)
Volume (Mcf)			3,856,000						—						—						1,615,000						5,471,000						2,156,000
Weighted-average floor price ($/Mcf)			$	2.93					$	—					$	—					$	3.57					$	3.12					$	3.57
Weighted-average ceiling price ($/Mcf)			$	4.39					$	—					$	—					$	5.37					$	4.68					$	5.37
Swaps (natural gas)
Volume (Mcf)			—						3,236,000						2,823,000						844,000						6,903,000						1,612,050
Weighted-average price ($/Mcf)			$	—					$	3.22					$	3.22					$	3.22					$	3.22					$	3.20

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- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//855/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483399/855-10-50-2

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