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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes these instruments that were accounted for at fair value on a recurring basis by level within the fair value hierarchy:
| September 30, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Financial assets: |  |  |  |  |  |  |
Commodity derivative assets | $ | — |  |  | $ | 22,867 |  |  | $ | — |  |  | $ | 22,867 |
Interest rate assets | $ | — |  |  | $ | 218 |  |  | $ | — |  |  | $ | 218 |
Financial liabilities: |  |  |  |  |  |  |
Commodity derivative liabilities | $ | — |  |  | $ | (12,164) |  |  | $ | — |  |  | $ | (12,164) |
Interest rate liabilities | $ | — |  |  | $ | (195) |  |  | $ | — |  |  | $ | (195) |
| December 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Financial assets: |  |  |  |  |  |  |
Commodity derivative assets | $ | — |  |  | $ | 15,301 |  |  | $ | — |  |  | $ | 15,301 |
Interest rate assets | $ | — |  |  | $ | 1,177 |  |  | $ | — |  |  | $ | 1,177 |
Financial liabilities: |  |  |  |  |  |  |
Commodity derivative liabilities | $ | — |  |  | $ | (13,043) |  |  | $ | — |  |  | $ | (13,043) |
The following table summarizes the fair value and carrying amount of the Company's financial instruments:
| September 30, 2025 |  | December 31, 2024
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
| (In thousands)
Credit Facility (Level 2) | $ | 225,000 |  |  | $ | 225,000 |  |  | $ | 115,000 |  |  | $ | 115,000 |
Senior Notes (Level 2)(1) | $ | 142,042 |  |  | $ | 152,826 |  |  | $ | 154,494 |  |  | $ | 172,864 |
Schedule of Fair Value of Earnout Payments | The fair value of the earnout payments is considered a Level 3 measurement due to the unobservable inputs including volatility and the discount rate, as well as the detailed modeling required to estimate fair value. See Note 4 - Acquisitions of Oil and Natural Gas Properties for additional information on the earnout payments.
| September 30, 2025
| Fair Value
| (In thousands)
Earnout Payments (Level 3) | $ | 3,100 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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