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ADDITIONAL FINANCIAL STATEMENT INFORMATION

3 Months Ended

Mar. 31, 2025

ADDITIONAL FINANCIAL STATEMENT INFORMATION

ADDITIONAL FINANCIAL STATEMENT INFORMATION

12. ADDITIONAL FINANCIAL STATEMENT INFORMATION

Certain balance sheet amounts are comprised of the following (in thousands):

​

​	​	​	​	​	​	​
​		March 31, 2025			December 31, 2024
Accounts receivable, net:	​	​	​	​	​	​
Oil, natural gas and natural gas liquids revenues	​	$	17,775	​	$	23,516
Joint interest accounts	​	​	2,049	​	​	2,140
Other	​	​	1,353	​	​	642
​	​	$	21,177	​	$	26,298
Prepaids and other:	​	​	​	​	​	​
Prepaids	​	$	493	​	$	572
Funds in escrow	​	​	350	​	​	349
Other	​	​	58	​	​	61
​	​	$	901	​	$	982
Other assets (Non-current):	​	​	​	​	​	​
Investment in unconsolidated affiliate	​	$	1,380	​	$	940
Funds in escrow	​	​	583	​	​	578
Other	​	​	1,259	​	​	760
​	​	$	3,222	​	$	2,278
Accounts payable and accrued liabilities:	​	​	​	​	​	​
Trade payables	​	$	16,208	​	$	15,663
Accrued oil and natural gas capital costs	​	​	13,210	​	​	7,800
Revenues and royalties payable	​	​	21,096	​	​	19,816
Accrued interest expense	​	​	76	​	​	330
Accrued employee compensation	​	​	623	​	​	1,472
Accrued lease operating expenses	​	​	7,282	​	​	7,597
Other	​	​	4	​	​	4
​	​	$	58,499	​	$	52,682

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Investment in Unconsolidated Affiliate. In May 2022, the Company entered into a joint venture with Caracara to develop an acid gas treatment facility to remove hydrogen sulfide and carbon dioxide from its produced natural gas. Caracara provided the initial capital for the construction of the treatment facility. The Company contributed certain full cost pool assets to the related party joint venture in a non-cash exchange for a retained 5% equity interest in WAT (previously Brazos Amine Treater, LLC (“BAT”)), an unconsolidated subsidiary. For accounting purposes, since the Company does not control the key activities (e.g. operating and maintaining the facility) which most significantly impact economic performance, the Company is not the primary beneficiary of WAT. Accordingly, the Company accounts for its investment in WAT (a related party) using the equity method of accounting based on its ability to exercise significant influence, but not control, over the key activities of the joint venture. For more information related to this joint venture, see Note 9, “Commitments and Contingencies”.

Certain income statement amounts are comprised of the following (in thousands) for the periods presents:

​	​	​	​	​	​	​
​		March 31, 2025			March 31, 2024
Interest expense and other	​	​	​	​	​	​
Interest expense	​	$	7,189	​	$	8,391
Interest income	​	​	(579)	​	​	(701)
Mark-to-market of derivatives - change of control call option	​	​	—	​	​	(928)
Other	​	​	60	​	​	277
​	​	$	6,670	​	$	7,039

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