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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 19,712 $ 57,529
Accounts receivable, net 26,298 23,021
Assets from derivative contracts 6,969 8,992
Restricted cash 91 90
Prepaids and other 982 907
Total current assets 54,052 90,539
Oil and natural gas properties (full cost method):    
Evaluated 816,186 755,482
Unevaluated 49,091 58,909
Gross oil and natural gas properties 865,277 814,391
Less - accumulated depletion (497,272) (445,975)
Net oil and natural gas properties 368,005 368,416
Other operating property and equipment:    
Other operating property and equipment 4,663 4,640
Less - accumulated depreciation (2,455) (1,817)
Net other operating property and equipment 2,208 2,823
Other noncurrent assets:    
Assets from derivative contracts 4,052 4,877
Operating lease right of use assets 453 1,027
Other assets 2,278 17,656
Total assets 431,048 485,338
Current liabilities:    
Accounts payable and accrued liabilities 52,682 66,525
Liabilities from derivative contracts 12,330 17,191
Current portion of long-term debt 12,246 50,106
Operating lease liabilities 406 594
Total current liabilities 77,664 134,416
Long-term debt, net 145,535 140,276
Other noncurrent liabilities:    
Liabilities from derivative contracts 6,954 16,058
Asset retirement obligations 19,156 17,458
Operating lease liabilities 84 490
Other   2,084
Commitments and contingencies (Note 11)
Temporary equity:    
Redeemable convertible preferred stock: 138,000 shares and 98,000 shares of $0.0001 par value authorized, issued and outstanding as of December 31, 2024 and 2023, respectively 177,535 106,535
Stockholders' equity:    
Common stock: 100,000,000 shares of $0.0001 par value authorized; 16,456,563 shares issued and outstanding as of December 31, 2024 and 2023 2 2
Additional paid-in capital 288,993 321,012
Accumulated deficit (284,875) (252,993)
Total stockholders' equity 4,120 68,021
Total liabilities and stockholders' equity $ 431,048 $ 485,338