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Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company has one reportable segment, which is engaged in the acquisition, exploration, development and production of crude oil and natural gas in the United States. All of our oil and natural gas sales come from customers in the United States. The segment’s revenues are primarily derived from our interests in the sales of crude oil and natural gas production. The Company’s chief operating decision maker (“CODM”) is our chief executive officer, who manages the Company’s business activities as a single operating and reporting segment. The accounting policies of the one reportable segment are the same as those described in the summary of significant accounting policies. The CODM uses net income, as reported in our statement of operations, to measure segment profit or loss, assess performance, and make strategic capital resources allocations. The measure of segment assets is reported on our balance sheet as total assets. The significant expense categories regularly provided to the CODM are the expenses as noted on the face of the statements of operations. See our Condensed Consolidated Statement of Operations. The following table provides information about the Company’s one reportable segment and includes the reconciliation to consolidated net income:
|  |  | For the Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025 |  |
Total revenues |  |  |  |  | 154,872 |  | 85,165 |  |
Less: |  |  |  |  |  |  |  |  |
Gathering, processing, and transportation |  |  |  |  | 19,723 |  | 12,070 |  |
Lease operating |  |  |  |  | 8,916 |  | 6,772 |  |
Production and ad valorem taxes |  |  |  |  | 2,349 |  | 632 |  |
Midstream operations and maintenance expense |  |  |  |  | 1,478 |  | 662 |  |
Depreciation, depletion, and amortization |  |  |  |  | 35,660 |  | 21,258 |  |
General and administrative |  |  |  |  | 21,413 |  | 131,750 |  |
Other segment (income)/expenses(1) |  |  |  |  | 71,676 |  | 40,383 |  |
Segment income |  |  |  |  | $ | (6,343) |  | $ | (128,362) |  |
_____________ (1) Other segment (income) expenses are comprised of net interest expense of $5.8 million and $3.1 million for the three months ended March 31, 2026 and 2025, respectively, gain (loss) on derivative instruments of $(65.1) million and $(37.2) million for the three months ended March 31, 2026 and 2025, respectively, other income (loss) of $(1.1) million and $(0.1) million for the three months ended March 31, 2026 and 2025, respectively and income tax expense (benefit) of $(0.3) million for the three months ended March 31, 2026.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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