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Derivative Instruments (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Crude Oil and Natural Gas Derivative Contracts in Place | As of March 31, 2025, the Company had the following outstanding crude oil and natural gas derivative contracts in place, which settle monthly and are indexed to NYMEX West Texas Intermediate and NYMEX Henry Hub, respectively: Schedule of Outstanding Crude Oil and Natural Gas Derivative Contracts in Place
|  | Settling April 1, 2025 through December 31, 2025 |  |  | Settling January 1, 2026 through December 31, 2026 |  |  | Settling January 1, 2027 through December 31, 2027 |  |  | Settling January 1, 2028 through December 31, 2028 |
Crude Oil Swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional volume (Bbls) |  |  | 714,342 |  |  |  | 496,884 |  |  |  | 223,599 |  |  |  | 169,839 |
Weighted average price ($/Bbl) |  | $ | 66.89 |  |  | $ | 64.40 |  |  | $ | 62.70 |  |  | $ | 61.81 |
Natural Gas Swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional volume (MMBtus) |  |  | 1,026,999 |  |  |  | 885,147 |  |  |  | 626,832 |  |  |  | 457,368 |
Weighted average price ($/MMBtu) |  | $ | 3.46 |  |  | $ | 3.73 |  |  | $ | 3.69 |  |  | $ | 3.49 |
Schedule of Derivative Instruments Consolidated Balance Sheets | The following table presents the net fair values of the Company’s derivative instruments, recorded on the consolidated balance sheet for the period presented: Schedule of Derivative Instruments Consolidated Balance Sheets
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Current liabilities |  | $ | 3,071 |  |  | $ | 2,446 |
Long-term liabilities |  |  | 1,441 |  |  |  | 1,949 |
Total derivatives liabilities |  | $ | 4,512 |  |  | $ | 4,395 |
Schedule of Derivative Instruments | Schedule of Derivative Instruments
|  | 2025 |  |  | 2024 |
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Cash paid for derivative settlements, net: |  |  |  |  |  |  |  |
Crude oil |  | $ | (519 | ) |  | $ | — |
Natural gas |  |  | (262 | ) |  |  | — |
Total cash paid for derivative settlements, net: |  |  | (781 | ) |  |  | — |
Non-cash gain (loss) on derivatives: |  |  |  |  |  |  |  |
Crude oil |  |  | 1,074 |  |  |  | — |
Natural gas |  |  | (1,191 | ) |  |  | — |
Total non-cash loss on derivatives |  |  | (117 | ) |  |  | — |
Loss on derivatives, net |  | $ | (898 | ) |  | $ | — |

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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