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Acquisitions and Divestitures (Tables)
 3 Months Ended
Mar. 31, 2026
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 presents the allocation of the total purchase price 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 March 31, 2026 (in thousands):
Consideration:
Cash consideration paid to sellers upon closing$119,559 
Preliminary estimated fair value of earnout payments3,100 
Total consideration transferred$122,659 
Fair value of assets acquired:
Cash
$1,857 
Accounts receivable7,476 
Prepaid expenses
313 
Inventory5,371 
Current derivative assets
1,029 
Oil and gas properties
140,317 
Other property and equipment
602 
Other non-current assets
1,421 
Amount attributable to assets acquired
$158,386 
Fair value of liabilities assumed:
Accounts payable$364 
Accrued liabilities
1,708 
Revenue payable14,371 
Asset retirement obligations19,284 
Amount attributable to liabilities assumed$35,727 
Net assets acquired$122,659 
Schedule of Gain (loss) on Divestitures and Acquisitions
Loss on acquisitions and divestitures, net consisted of the following:
Three Months Ended March 31,
20262025
(In thousands)
Gain on sale of oil and natural gas properties (1)
$1,446 $— 
Loss on earnout liabilities - Silverback Acquisition
(4,120)— 
Loss on sale of other property and equipment(23)— 
Total loss on acquisitions and divestitures, net
$(2,697)$— 
_____________________
(1) Represents sale of interest in non-operated wells.
Schedule of Business Acquisition, Pro Forma Information The following supplemental, unaudited pro forma combined financial information for the three months ended March 31, 2025, 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 year ended December 31, 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 months ended March 31, 2025.
Three Months Ended
March 31, 2025
(In thousands, except per share amounts)
Total revenues
$122,971 
Net income$31,631 
Basic net income per common share$1.50 
Diluted net income per common share$1.50