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Asset Retirement Obligation | 3 Months Ended
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Mar. 31, 2025
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligation | Note 8 – Asset Retirement Obligation The following table presents the changes in the Company’s asset retirement obligations for the periods presented: Schedule of Asset Retirement Obligation
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Asset retirement obligation, at the beginning of the period |  | $ | 227 |  |  | $ | — |
Liabilities assumed in acquisitions |  |  | 2,328 |  |  |  | 221 |
Liabilities incurred through development activities |  |  | 46 |  |  |  | — |
Accretion of asset retirement obligation |  |  | 6 |  |  |  | 6 |
Asset retirement obligation, at the end of the period |  | $ | 2,607 |  |  | $ | 227 |
As of March 31, 2025, the asset retirement obligations liabilities assumed in acquisitions fully relate to the Bayswater Acquisition. Refer to Note 3 – Acquisitions for a discussion of the Bayswater Acquisition. As of March 31, 2025, the asset retirement obligations liabilities incurred through development activities fully relate to the Shelduck wells, which came online in February 2025.

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-2 + Details
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