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v3.25.1

Supplementary Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Notes Tables |
Oil and Gas, Capitalized Cost [Table Text Block] |
|  | As of December 31, |
(Thousands of dollars) |  | 2024 |  |  | 2023 |
Proved Developed oil and gas properties |  | $ | 773,330 |  |  | $ | 659,792 |
Proved Undeveloped oil and gas properties |  |  | — |  |  |  | — |
Total Capitalized Costs |  |  | 773,330 |  |  |  | 659,792 |
Accumulated depreciation, depletion and valuation allowance |  |  | (479,424 | ) |  |  | (406,913 | )
Net Capitalized Costs |  | $ | 293,906 |  |  | $ | 252,879 |
Oil and Gas, Cost Incurred, Property Acquisition, Exploration, and Development [Table Text Block] |
|  | Years Ended December 31, |
(Thousands of dollars) |  | 2024 |  |  | 2023 |
Development Costs |  | $ | 117,424 |  |  | $ | 110,700 |
Oil and Gas, Standardized Measure, Discounted Future Net Cash Flow [Table Text Block] |
|  | As of December 31, |
(Thousands of dollars) |  | 2024 |  |  | 2023 |
Future cash inflows |  | $ | 981,343 |  |  | $ | 1,219,605 |
Future production costs |  |  | (374,816 | ) |  |  | (437,408 | )
Future development costs |  |  | (105,811 | ) |  |  | (213,823 | )
Future income tax expenses |  |  | (105,150 | ) |  |  | (119,359 | )
Future Net Cash Flows |  |  | 395,566 |  |  |  | 449,015 |
10% annual discount for estimated timing of cash flows |  |  | (122,521 | ) |  |  | (170,967 | )
Standardized Measure of Discounted Future Net Cash Flows |  | $ | 273,045 |  |  | $ | 278,048 |
Oil and Gas, Change in Standardized Measure, Discounted Future Net Cash Flow [Table Text Block] |
|  | Years Ended December 31, |
(Thousands of dollars) |  | 2024 |  |  | 2023 |
Sales of oil and gas produced, net of production costs |  | $ | (223,042 | ) |  | $ | (107,742 | )
Net changes in prices and production costs |  |  | (40,024 | ) |  |  | (98,132 | )
Extensions, discoveries and improved recovery |  |  | 24,848 |  |  |  | 178,960 |
Revisions of previous quantity estimates |  |  | (39,149 | ) |  |  | (3,877 | )
Net change in development costs |  |  | 70,002 |  |  |  | 66,552 |
Reserves sold |  |  | (1,371 | ) |  |  | (398 | )
Accretion of discount |  |  | 27,805 |  |  |  | 24,454 |
Net change in income taxes |  |  | 8,896 |  |  |  | 4,532 |
Changes in production rates (timing) and other |  |  | 167,032 |  |  |  | (30,836 | )
Net change |  |  | (5,003 | ) |  |  | 33,512 |
Standardized measure of discounted future net cash flow: |  |  |  |  |  |  |  |
Beginning of year |  |  | 278,048 |  |  |  | 244,536 |
End of year |  | $ | 273,045 |  |  | $ | 278,048 |
Oil and Gas, Proved Reserve, Quantity [Table Text Block] |
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
|  | Oil (MBbls) |  |  | NGL’s (MBbls) |  |  | Gas (MMcf) |  |  | Oil (MBbls) |  |  | NGLs (MBbls) |  |  | Gas (MMcf) |
Proved Developed Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 5,757 |  |  |  | 3,676 |  |  |  | 24,749 |  |  |  | 4,143 |  |  |  | 2,497 |  |  |  | 22,277 |
Extensions, discoveries and improved recovery |  |  | 186 |  |  |  | 132 |  |  |  | 859 |  |  |  | 843 |  |  |  | 467 |  |  |  | 2,391 |
Revisions of previous estimates |  |  | (745 | ) |  |  | (385 | ) |  |  | (983 | ) |  |  | (1,101 | ) |  |  | (515 | ) |  |  | (4,796 | )
Converted from undeveloped reserves |  |  | 4,854 |  |  |  | 4,509 |  |  |  | 20,791 |  |  |  | 3,028 |  |  |  | 1,833 |  |  |  | 9,030 |
Production |  |  | (2,556 | ) |  |  | (1,284 | ) |  |  | (7,766 | ) |  |  | (1,144 | ) |  |  | (606 | ) |  |  | (4,127 | )
End of year |  |  | 7,443 |  |  |  | 6,597 |  |  |  | 37,489 |  |  |  | 5,757 |  |  |  | 3,676 |  |  |  | 24,749 |
Proved Undeveloped Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 6,254 |  |  |  | 5,156 |  |  |  | 24,470 |  |  |  | 3,028 |  |  |  | 1,833 |  |  |  | 9,030 |
Extensions, discoveries and improved recovery |  |  | 3,166 |  |  |  | 1,670 |  |  |  | 8,327 |  |  |  | 6,254 |  |  |  | 5,156 |  |  |  | 24,470 |
Revisions of previous estimates |  |  | (1,400 | ) |  |  | (647 | ) |  |  | (3,680 | ) |  |  | — |  |  |  | — |  |  |  | — |
Converted to developed reserves |  |  | (4,854 | ) |  |  | (4,509 | ) |  |  | (20,791 | ) |  |  | (3,028 | ) |  |  | (1,833 | ) |  |  | (9,030 | )
Reserves Sold |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
End of year |  |  | 3,166 |  |  |  | 1,670 |  |  |  | 8,326 |  |  |  | 6,254 |  |  |  | 5,156 |  |  |  | 24,470 |
Total Proved Reserves at the End of the Year |  |  | 10,609 |  |  |  | 8,267 |  |  |  | 45,815 |  |  |  | 12,011 |  |  |  | 8,832 |  |  |  | 49,219 |
Oil and Gas, Result of Operation, Producing Activity [Table Text Block] |
|  | Years Ended December 31, |
(Thousands of dollars) |  | 2024 |  |  | 2023 |
Revenue: |  |  |  |  |  |  |  |
Oil and gas sales |  | $ | 223,042 |  |  | $ | 107,742 |
Costs and Expenses: |  |  |  |  |  |  |  |
Lease operating expenses |  |  | 59,853 |  |  |  | 39,004 |
Depreciation, depletion and accretion |  |  | 77,229 |  |  |  | 31,660 |
Income tax expense |  |  | 16,884 |  |  |  | 5,797 |
Total Costs and Expenses |  |  | 153,966 |  |  |  | 76,461 |
Results of Operations from Producing Activities (excluding corporate overhead and interest costs) |  | $ | 69,076 |  |  | $ | 31,281 |

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