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OIL AND NATURAL GAS PROPERTIES, NET | 12 Months Ended
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Dec. 31, 2023
Extractive Industries [Abstract] |
OIL AND NATURAL GAS PROPERTIES, NET | OIL AND NATURAL GAS PROPERTIES, NET Oil and natural gas properties consisted of the following at December 31, 2023:
| December 31, 2023 |  |
| (In thousands)
Total proved properties costs | $ | 25,276 |  |  |
Accumulated depletion and depreciation | (159) |  |  |
Oil and natural gas properties, net | $ | 25,117 |  |  |
Total depletion and depreciation expense in the consolidated statements of operations was $245,000 for the period from November 13, 2023 through December 31, 2023 and includes depletion and depreciation in cost of production. Benchmark determined no impairment to proved oil and natural gas properties was necessary as of December 31, 2023.

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- Definition The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//932-360/tableOfContent + Details
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