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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2024
FAIR VALUE MEASUREMENTS  
Schedule of fair value of the Company's financial assets and liabilities

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities associated with commodity-based derivative contracts that were accounted for at fair value as of December 31, 2024 and 2023 (in thousands):

December 31, 2024

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

Assets from derivative contracts

$

$

11,021

$

$

11,021

Liabilities

Liabilities from derivative contracts

$

$

19,284

$

$

19,284

December 31, 2023

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

Assets from derivative contracts

$

$

13,869

$

$

13,869

Liabilities

Liabilities from derivative contracts

$

$

33,249

$

$

33,249

Schedule of changes in fair value of the change of control call option

Change of Control

Call Option

Balance at December 31, 2023

$

2,084

Change in fair value

(2,084)

Balance at December 31, 2024

$