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Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenues |  |  |  |  |  |  |
Oil | $ | 16,956 |  |  | $ | 14,732 |  |  | $ | 35,836 |  |  | $ | 30,331 |
Natural gas | 8,748 |  |  | 2,946 |  |  | 21,421 |  |  | 8,953 |
NGL | 8,827 |  |  | 8,299 |  |  | 19,878 |  |  | 16,976 |
Total revenues | 34,531 |  |  | 25,977 |  |  | 77,135 |  |  | 56,260 |
Expenses |  |  |  |  |  |  |
Lease operating expenses | 6,556 |  |  | 8,738 |  |  | 17,473 |  |  | 19,630 |
Production, ad valorem, and other taxes | 2,158 |  |  | 1,841 |  |  | 5,257 |  |  | 3,737 |
Depreciation and depletion—oil and natural gas | 8,290 |  |  | 4,350 |  |  | 16,706 |  |  | 8,426 |
Depreciation and amortization—other | 1,612 |  |  | 1,664 |  |  | 3,215 |  |  | 3,342 |
General and administrative | 3,028 |  |  | 3,050 |  |  | 6,881 |  |  | 6,382 |
Restructuring expenses | 412 |  |  | 81 |  |  | 452 |  |  | 81 |
(Gain) loss on derivative contracts | (6,059) |  |  | — |  |  | (3,572) |  |  | — |
Other operating (income) expense | — |  |  | 33 |  |  | — |  |  | 24 |
Total expenses | 15,997 |  |  | 19,757 |  |  | 46,412 |  |  | 41,622 |
Income (loss) from operations | 18,534 |  |  | 6,220 |  |  | 30,723 |  |  | 14,638 |
Other income (expense) |  |  |  |  |  |  |
Interest income (expense), net | 1,027 |  |  | 2,491 |  |  | 1,887 |  |  | 5,189 |
Other income (expense), net | (3) |  |  | 83 |  |  | (3) |  |  | 92 |
Total other income (expense) | 1,024 |  |  | 2,574 |  |  | 1,884 |  |  | 5,281 |
Income (loss) before income taxes | 19,558 |  |  | 8,794 |  |  | 32,607 |  |  | 19,919 |
Income tax (benefit) | — |  |  | — |  |  | — |  |  | — |
Net income (loss) | $ | 19,558 |  |  | $ | 8,794 |  |  | $ | 32,607 |  |  | $ | 19,919 |

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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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