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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | The following table presents the carrying amounts and fair values of the Company’s financial instruments as of September 30, 2024 and December 31, 2023:
| September 30, 2024 |  | December 31, 2023
(in thousands) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Assets: |  |  |  |  |  |  |
Derivative instruments - commodity derivatives | $ | 8,489 |  |  | $ | 8,489 |  |  | $ | 12,306 |  |  | $ | 12,306 |
Equity instruments | $ | 27,651 |  |  | $ | 27,651 |  |  | $ | 50,427 |  |  | $ | 50,427 |
Liabilities: |  |  |  |  |  |  |
Revolving credit facilities | $ | 195,000 |  |  | $ | 195,000 |  |  | $ | 110,000 |  |  | $ | 110,000 |
Derivative instruments - commodity derivatives | $ | 676 |  |  | $ | 676 |  |  | $ | — |  |  | $ | — |
Schedule of Net Derivative Asset (Liability) Measured at Fair Value |
| September 30, 2024
| Fair Value Measurement Using |  |  |  |  |  |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value |  | Gross Amounts Offset in the Condensed Consolidated Balance Sheet |  | Net Fair Value Presented in the Condensed Consolidated Balance Sheet
Equity investments | $ | 27,651 |  |  | $ | — |  |  | $ | — |  |  | $ | 27,651 |  |  | $ | — |  |  | $ | 27,651 |
Assets (at fair value): |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives – current portion | $ | — |  |  | $ | 13,092 |  |  | $ | — |  |  | $ | 13,092 |  |  | $ | (4,603) |  |  | $ | 8,489 |
Commodity derivatives – noncurrent portion | — |  |  | 5,636 |  |  | — |  |  | 5,636 |  |  | (5,636) |  |  | — |
Liabilities (at fair value): |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives – current portion | — |  |  | (4,603) |  |  | — |  |  | (4,603) |  |  | 4,603 |  |  | — |
Commodity derivatives – noncurrent portion | — |  |  | (6,312) |  |  | — |  |  | (6,312) |  |  | 5,636 |  |  | (676) |
Net derivative instruments | $ | — |  |  | $ | 7,813 |  |  | $ | — |  |  | $ | 7,813 |  |  | $ | — |  |  | $ | 7,813 |
| December 31, 2023
| Fair Value Measurement Using |  |  |  |  |  |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value |  | Gross Amounts Offset in the Condensed Consolidated Balance Sheet |  | Net Fair Value Presented in the Condensed Consolidated Balance Sheet
Equity investments - common stock | $ | 25,554 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,554 |  |  | $ | — |  |  | $ | 25,554 |
Equity investments - preferred stock | — |  |  | 24,873 |  |  | — |  |  | 24,873 |  |  | — |  |  | 24,873 |
Total equity investments | $ | 25,554 |  |  | $ | 24,873 |  |  | $ | — |  |  | $ | 50,427 |  |  | $ | — |  |  | $ | 50,427 |
Assets (at fair value): |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives – current portion | $ | — |  |  | $ | 14,202 |  |  | $ | — |  |  | $ | 14,202 |  |  | $ | (3,085) |  |  | $ | 11,117 |
Commodity derivatives – noncurrent portion | — |  |  | 2,534 |  |  | — |  |  | 2,534 |  |  | (1,345) |  |  | 1,189 |
Liabilities (at fair value): |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives – current portion | — |  |  | (3,085) |  |  | — |  |  | (3,085) |  |  | 3,085 |  |  | — |
Commodity derivatives – noncurrent portion | — |  |  | (1,345) |  |  | — |  |  | (1,345) |  |  | 1,345 |  |  | — |
Net derivative instruments | $ | — |  |  | $ | 12,306 |  |  | $ | — |  |  | $ | 12,306 |  |  | $ | — |  |  | $ | 12,306 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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