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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 3,743 $ 9,419
Revenue receivable 76,647 69,692
Advances to operators 8,326 19,959
Prepaid and other current assets 2,298 3,831
Derivative assets - commodity derivatives 6,924 537
Equity investments 11,026 31,783
Total current assets 108,964 135,221
Property and equipment:    
Oil and gas properties, successful efforts method 1,733,681 1,540,021
Accumulated depletion (744,463) (643,051)
Total property and equipment, net 989,218 896,970
Long-term assets:    
Derivative assets - commodity derivatives 2,844 0
Other long-term assets 3,937 4,288
Total long-term assets 6,781 4,288
Total assets 1,104,963 1,036,479
Current liabilities:    
Accounts payable and accrued liabilities 78,406 99,440
Derivative liabilities - commodity derivatives 3,053 1,822
Other liabilities 1,015 546
Total current liabilities 82,474 101,808
Long-term liabilities:    
Long-term debt 275,000 205,000
Derivative liabilities - commodity derivatives 3,469 3,679
Asset retirement obligations 11,333 10,693
Deferred tax liability 90,221 79,946
Total long-term liabilities 380,023 299,318
Total liabilities 462,497 401,126
Stockholders' Equity:    
Common stock, $0.0001 par value, 431,000,000 shares authorized, 136,951,676 and 136,417,677 issued at June 30, 2025 and December 31, 2024, respectively 14 14
Additional paid-in capital 656,520 655,472
Retained earnings 22,128 16,047
Treasury stock, at cost, 5,686,711 and 5,683,921 shares at June 30, 2025 and December 31, 2024, respectively (36,196) (36,180)
Total stockholders' equity 642,466 635,353
Total liabilities and stockholders' equity $ 1,104,963 $ 1,036,479