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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Accounts Receivable
Accounts receivable, net is summarized below:
December 31,
20242023
(In thousands)
Oil, natural gas and NGL sales$38,374 $31,135 
Joint interest accounts receivable4,884 1,630 
Allowance for credit losses
(62)— 
Other accounts receivable1,215 2,361 
Total accounts receivable, net
$44,411 $35,126 
Schedule of Other Property and Equipment
Other property and equipment, net is summarized below:
December 31,
20242023
(In thousands)
Midstream property and equipment
$11,297 $— 
Furniture, fixtures and other
5,882 6,605 
Land
16,673 16,673 
$33,852 $23,278 
Accumulated depreciation and amortization
(3,375)(2,625)
Total other property and equipment, net
$30,477 $20,653 
Schedule of Other Non-current Assets, Net
Other non-current assets, net consisted of the following:
December 31,
20242023
(In thousands)
Deferred financing costs, net$4,949 $3,844 
Right-of-use assets
1,398 1,890 
Other
4,359 1,241 
Total other non-current assets, net$10,706 $6,975 
Schedule of Accrued Liabilities
Accrued liabilities consisted of the following:
December 31,
20242023
(In thousands)
Accrued capital expenditures$10,441 $15,851 
Accrued lease operating expenses7,676 6,038 
Accrued general and administrative costs8,123 4,655 
Accrued inventory1,709 — 
Accrued ad valorem tax5,396 5,269 
Other accrued expenditures573 1,346 
Total accrued liabilities$33,918 $33,159 
Schedule of Other Current Liabilities
Other current liabilities consisted of the following:
December 31,
20242023
(In thousands)
Advances from joint interest owners$11,278 $259 
Income taxes payable5,233 561 
Current ARO liabilities2,562 3,789 
Other1,050 1,667 
Total other current liabilities
$20,123 $6,276 
Schedule of Asset Retirement Obligations
Components of the changes in ARO consisted of the following and is shown below:
December 31,
20242023
(In thousands)
ARO, beginning balance$23,044 $3,038 
Liabilities incurred78 45 
Liabilities assumed in acquisitions
9,727 19,359 
Revision of estimated obligations1,856 — 
Liability settlements and disposals(2,291)(1,039)
Accretion2,854 1,641 
ARO, ending balance$35,268 $23,044 
Less: current ARO (1)
(2,562)(3,789)
ARO, long-term$32,706 $19,255 
_____________________
(1)Current ARO is included within other current liabilities in our consolidated balance sheets.
Summary of Disaggregation of Revenue
The following table presents oil and natural gas sales disaggregated by product:
Year Ended December 31,
20242023
(In thousands)
Oil and natural gas sales:
Oil$408,935 $363,125 
Natural gas(1,412)2,612 
NGLs
2,278 6,910 
Total oil and natural gas sales, net (1)
$409,801 $372,647 
_____________________
(1) The Company's oil, natural gas and NGL sales are presented net of gathering, processing and transportation costs. These costs, related to natural gas and NGLs, at times exceeded the price we received and resulted in negative average realized prices.
Schedule of Assets And Liabilities, Lessee
December 31,
20242023
(In thousands)
ROU asset$1,398 $1,890 
Current lease liability$758 $985 
Long-term lease liability$673 $938