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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash $ 15,809 $ 17,889
Accounts receivable, net 56,629 41,045
Prepaid expenses 2,710 7,763
Inventory 7,919 7,929
Current derivative assets 0 19,141
Total Current Assets 83,067 93,767
Oil and natural gas properties, net (successful efforts) 1,018,168 995,539
Other property and equipment, net 22,784 21,872
Non-current derivative assets 1,388 5,117
Equity method investment 39,820 36,188
Funds held in escrow 1,196 1,196
Other non-current assets, net 13,658 15,899
Total Assets 1,180,081 1,169,578
Current Liabilities:    
Accounts payable 22,716 5,083
Accrued liabilities 44,377 37,690
Revenue payable 57,186 59,606
Current derivative liabilities 77,937 37
Current portion of long-term debt 20,000 20,000
Other current liabilities 41,439 34,089
Total Current Liabilities 263,655 156,505
Non-current derivative liabilities 14,587 112
Asset retirement obligations 59,426 59,977
Long-term debt 220,675 227,855
Deferred tax liabilities 62,811 86,119
Other non-current liabilities 5,487 4,768
Total Liabilities 626,641 535,336
Commitments and Contingencies (Note 15)
Shareholders' Equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued 0 0
Common stock, $0.001 par value, 240,000,000 shares authorized; 21,567,428 and 21,718,800 shares issued at March 31, 2026 and December 31, 2025, respectively 22 22
Additional paid-in capital 304,900 306,660
Retained earnings 248,518 327,560
Total Shareholders' Equity 553,440 634,242
Total Liabilities and Shareholders' Equity $ 1,180,081 $ 1,169,578