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Basis of Presentation (Tables)

6 Months Ended

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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- References

No definition available.

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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

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