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OIL AND NATURAL GAS PROPERTIES, NET | 12 Months Ended
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Dec. 31, 2024
Extractive Industries [Abstract] |
OIL AND NATURAL GAS PROPERTIES, NET | OIL AND NATURAL GAS PROPERTIES, NET Benchmark’s oil and natural gas properties consisted of the following:
| December 31,
| 2024 |  | 2023
| (In thousands)
Proved oil and gas properties | $ | 199,559 |  |  | $ | 25,276 |
Unproved oil and gas properties | 4,786 |  |  | — |
Accumulated depletion and depreciation | (12,665) |  |  | (159) |
Oil and natural gas properties, net | $ | 191,680 |  |  | $ | 25,117 |
Total depletion and depreciation expense in the consolidated statements of operations and comprehensive income (loss) was $12.5 million for the year ended December 31, 2024 and $245,000 for the period from November 13, 2023 through December 31, 2023. Our Energy Operations includes depletion and depreciation in cost of production.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/932-360/tableOfContent + Details
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