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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash $ 8,857 $ 13,124
Accounts receivable, net 37,518 44,411
Prepaid expenses 1,838 1,592
Inventory 4,346 5,734
Current derivative assets 1,253 3,264
Total Current Assets 53,812 68,125
Oil and natural gas properties, net (successful efforts) 864,655 860,797
Other property and equipment, net 34,968 30,477
Non-current derivative assets 36 585
Equity method investment 28,942 22,811
Other non-current assets, net 12,531 10,706
Total Assets 994,944 993,501
Current Liabilities:    
Accounts payable 18,134 13,937
Accrued liabilities 31,588 33,918
Revenue payable 34,161 34,786
Current derivative liabilities 2,659 0
Current portion of long-term debt 20,000 20,000
Other current liabilities 15,292 20,123
Total Current Liabilities 121,834 122,764
Non-current derivative liabilities 2,160 414
Asset retirement obligations 33,340 32,706
Long-term debt 229,342 249,494
Deferred tax liabilities 74,721 76,547
Other non-current liabilities 1,164 961
Total Liabilities 462,561 482,886
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; 21,885,008 and 21,482,555 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 21 21
Additional paid-in capital 311,529 310,232
Retained earnings 220,833 200,362
Total Shareholders' Equity 532,383 510,615
Total Liabilities and Shareholders' Equity $ 994,944 $ 993,501