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ADDITIONAL FINANCIAL STATEMENT INFORMATION

6 Months Ended

Jun. 30, 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):


	June 30, 2025		December 31, 2024
Accounts receivable, net:
Oil, natural gas and natural gas liquids revenues	$	19,258	$	23,516
Joint interest accounts		4,333		2,140
Other		873		642
	$	24,464	$	26,298
Prepaids and other:
Prepaids	$	342	$	572
Funds in escrow		170		349
Other		57		61
	$	569	$	982
Other assets (Non-current):
Investment in unconsolidated affiliate	$	1,319	$	940
Funds in escrow		589		578
Other		1,759		760
	$	3,667	$	2,278
Accounts payable and accrued liabilities:
Trade payables	$	15,708	$	15,663
Accrued oil and natural gas capital costs		16,843		7,800
Revenues and royalties payable		18,861		19,816
Accrued interest expense		74		330
Accrued employee compensation		1,361		1,472
Accrued lease operating expenses		7,645		7,597
Other		1,794		4
	$	62,286	$	52,682

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:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Interest expense and other
Interest expense	$	7,341	$	7,610	$	14,530	$	16,001
Interest income		(764)		(634)		(1,343)		(1,335)
Mark-to-market of derivatives - change of control call option		—		(437)		—		(1,365)
Other		22		(91)		82		185
	$	6,599	$	6,448	$	13,269	$	13,486