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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Accounts Receivable

Accounts receivable is summarized below:

			December 31, 2022						December 31, 2021
			(In thousands)
Oil, natural gas and NGL sales			$	24,136					$	17,562
Joint interest accounts receivable			793						409
Other accounts receivable			622						31
Total accounts receivable			$	25,551					$	18,002

Schedule of Other Non-current Assets, Net

Other non-current assets consisted of the following:

			December 31, 2022						December 31, 2021
			(In thousands)
Deferred financing costs, net			$	2,556					$	1,345
Prepayments to outside operators			186						690
Right of use assets			1,370						208
Other deposits			63						50
Total other non-current assets, net			$	4,175					$	2,293

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following:

			December 31, 2022						December 31, 2021
			(In thousands)
Accrued capital expenditures			$	16,744					$	5,618
Accrued lease operating expenses			4,607						2,534
Accrued general and administrative costs			2,286						3,404
Accrued inventory			6,235						—
Accrued ad valorem tax			3,789						705
Other accrued expenditures			1,921						613
Total accrued liabilities			$	35,582					$	12,874

Schedule of Asset Retirement Obligations

Components of the changes in ARO consisted of the following and is shown below:

			December 31, 2022						December 31, 2021
			(In thousands)
ARO, beginning balance			$	2,453					$	2,434
Liabilities incurred			358						56
Revision of estimated obligations			326						—
Liability settlements and disposals			(178)						(58)
Accretion			79						21
ARO, ending balance			3,038						2,453
Less: current ARO(1)			(314)						(192)
ARO, long-term			$	2,724					$	2,261

_____________________

(1)Current ARO is included within other current liabilities on the accompanying consolidated balance sheets.

Summary of Disaggregation of Revenue

The following table presents oil and natural gas sales disaggregated by product:

			Year Ended December 31, 2022						Three Months Ended December 31, 2021						Year Ended September 30, 2021
			(In thousands)
Oil and natural gas sales:
Oil			$	298,723					$	50,623					$	136,421
Natural gas			10,755						2,705						7,500
Natural gas liquids			9,865						3,322						4,715
Total oil and natural gas sales, net			$	319,343					$	56,650					$	148,636

Schedule of Assets And Liabilities, Lessee

			December 31, 2022						December 31, 2021
			(In thousands)
ROU asset			$	1,370					$	208
Current lease liability			$	539					$	212
Long-term lease liability			$	838					$	—

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