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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

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 June 30, 2025 and December 31, 2024:

			June 30, 2025												December 31, 2024
(in thousands)			Carrying Value						Fair Value						Carrying Value						Fair Value
Assets:
Derivative instruments - commodity derivatives			$	9,768					$	9,768					$	537					$	537
Equity investments			$	11,026					$	11,026					$	31,783					$	31,783
Liabilities:
Revolving credit facilities			$	275,000					$	275,000					$	205,000					$	205,000
Derivative instruments - commodity derivatives			$	6,522					$	6,522					$	5,501					$	5,501

Schedule of Net Derivative Asset (Liability) Measured at Fair Value

			June 30, 2025
			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			$	11,026					$	—					$	—					$	11,026					$	—					$	11,026
Assets (at fair value):
Commodity derivatives – current portion			$	—					$	8,321					$	—					$	8,321					$	(1,397)					$	6,924
Commodity derivatives – noncurrent portion			—						2,844						—						2,844						—						2,844
Liabilities (at fair value):
Commodity derivatives – current portion			—						(4,450)						—						(4,450)						1,397						(3,053)
Commodity derivatives – noncurrent portion			—						(3,469)						—						(3,469)						—						(3,469)
Net derivative instruments			$	—					$	3,246					$	—					$	3,246					$	—					$	3,246

			December 31, 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			$	31,783					$	—					$	—					$	31,783					$	—					$	31,783
Assets (at fair value):
Commodity derivatives – current portion			$	—					$	2,053					$	—					$	2,053					$	(1,516)					$	537
Liabilities (at fair value):
Commodity derivatives – current portion			—						(3,338)						—						(3,338)						1,516						(1,822)
Commodity derivatives – noncurrent portion			—						(3,679)						—						(3,679)						—						(3,679)
Net derivative instruments			$	—					$	(4,964)					$	—					$	(4,964)					$	—					$	(4,964)

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- References

No definition available.

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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

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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

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