XML 69 R3.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash $ 13,124 $ 15,319
Accounts receivable, net 44,411 35,126
Prepaid expenses 1,592 1,631
Inventory 5,734 6,177
Current derivative assets 3,264 5,013
Total Current Assets 68,125 63,266
Oil and natural gas properties, net (successful efforts) 860,797 846,901
Other property and equipment, net 30,477 20,653
Non-current derivative assets 585 2,296
Equity method investment 22,811 5,620
Other non-current assets, net 10,706 6,975
Total Assets 993,501 945,711
Current Liabilities:    
Accounts payable 13,937 3,855
Accrued liabilities 33,918 33,159
Revenue payable 34,786 30,695
Current derivative liabilities 0 360
Current portion of long-term debt 20,000 20,000
Other current liabilities 20,123 6,276
Total Current Liabilities 122,764 94,345
Non-current derivative liabilities 414 0
Asset retirement obligations 32,706 19,255
Long-term debt 249,494 335,959
Deferred tax liabilities 76,547 73,345
Other non-current liabilities 961 1,212
Total Liabilities 482,886 524,116
Commitments and Contingencies (Note 15)
Shareholders' Equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued and outstanding 0 0
Common stock, $0.001 par value, 240,000,000 shares authorized; 21,482,555 and 20,405,093 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 21 20
Additional paid-in capital 310,232 279,112
Retained earnings 200,362 142,463
Total Shareholders' Equity 510,615 421,595
Total Liabilities and Shareholders' Equity $ 993,501 $ 945,711