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Acquisitions of Oil and Natural Gas Properties (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table presents the preliminary allocation of the Silverback Acquisition to the identified assets acquired and liabilities assumed based on estimated fair value as of the closing date of the acquisition:    
Preliminary purchase price allocation as of September 30, 2025 (in thousands):
Consideration:
Cash consideration paid to sellers upon closing$119,684 
Preliminary estimated fair value of earnout payments3,100 
Total consideration transferred$122,784 
Fair value of assets acquired:
Cash
$1,857 
Accounts receivable8,234 
Prepaid expenses
313 
Inventory5,371 
Current derivative assets
1,029 
Oil and natural gas properties (successful efforts)
139,996 
Other property and equipment
602 
Other non-current assets
1,416 
Amount attributable to assets acquired
$158,818 
Fair value of liabilities assumed:
Accounts payable$554 
Accrued liabilities
1,825 
Revenue payable14,371 
Asset retirement obligations19,284 
Amount attributable to liabilities assumed$36,034 
Net assets acquired$122,784 
Schedule of Business Acquisition, Pro Forma Information The following supplemental, unaudited pro forma combined financial information for the three and nine months ended September 30, 2025, and 2024, reflect the consolidated results of operations of the Company as if the Silverback Acquisition had occurred on January 1, 2024. The information below reflects pro forma adjustments based on available information and certain assumptions that the Company believes are factual and supportable. The unaudited pro forma information includes adjustments for (i) transaction costs being reclassified to the first quarter of 2024 instead of being recorded in the three and nine months ended September 30, 2025, (ii) depletion, depreciation and amortization expense and (iii) interest expense related to the financing for the Silverback Acquisition. In addition, the pro forma information has been effected for income taxes with a blended statutory rate of 25.7% for the three and nine months ended September 30, 2025 and 2024.
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(In thousands, except per share amounts)
Total revenues, net
$106,852 $118,582 $331,297 $364,335 
Net income$17,515 $26,585 $82,755 $80,730 
Basic net income per common share$0.83 $1.27 $3.91 $3.92 
Diluted net income per common share$0.82 $1.25 $3.91 $3.89