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v3.25.2

Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents consolidated net income, the significant measure of profit and loss used by the CODM, as well as total assets, capital expenditures and our equity method investment for the Company's single reportable segment:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Total Revenues | $ | 85,394 |  |  | $ | 105,403 |  |  | $ | 187,851 |  |  | $ | 205,147 |
Less: |  |  |  |  |  |  |
Lease operating expenses | 18,880 |  |  | 16,492 |  |  | 37,211 |  |  | 33,261 |
Production and ad valorem taxes | 6,126 |  |  | 7,174 |  |  | 12,796 |  |  | 14,405 |
Exploration costs | 47 |  |  | 60 |  |  | 56 |  |  | 64 |
Depletion, depreciation, amortization and accretion | 19,563 |  |  | 17,470 |  |  | 38,701 |  |  | 35,249 |
Impairment of oil and natural gas properties | 1,214 |  |  | — |  |  | 1,214 |  |  | — |
Administrative Costs | 6,199 |  |  | 6,644 |  |  | 13,637 |  |  | 11,983 |
Share-based compensation expense | 2,685 |  |  | 3,281 |  |  | 4,054 |  |  | 4,973 |
Other segment items(1) | 1,926 |  |  | 670 |  |  | 1,926 |  |  | 1,033 |
Interest expense, net of capitalized interest(2) | 7,320 |  |  | 9,093 |  |  | 14,111 |  |  | 18,367 |
Interest income | (149) |  |  | (236) |  |  | (279) |  |  | (443) |
(Gain) loss on derivatives, net | (18,720) |  |  | 359 |  |  | (12,870) |  |  | 17,436 |
Loss from equity method investment | 129 |  |  | 192 |  |  | 248 |  |  | 25 |
Income tax expense | 9,704 |  |  | 10,656 |  |  | 17,943 |  |  | 16,488 |
Segment net income(3) | $ | 30,470 |  |  | $ | 33,548 |  |  | $ | 59,103 |  |  | $ | 52,306 |
Total assets | $ | 1,033,567 |  |  | $ | 1,002,957 |  |  | $ | 1,033,567 |  |  | $ | 1,002,957 |
Capital expenditures(4) | $ | 27,786 |  |  | $ | 21,438 |  |  | $ | 51,786 |  |  | $ | 47,620 |
Equity method investment | $ | 28,813 |  |  | $ | 20,757 |  |  | $ | 28,813 |  |  | $ | 20,757 |
_____________________ (1)Other segment items include transaction costs and cost of contract services - related parties. (2)Interest expense is shown gross of, or prior to the effect of interest income. (3)There are no reconciling items between net income presented in our accompanying condensed consolidated statements of operations and segment net income. (4)Capital expenditures are accrual (activity-based) before acquisitions.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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