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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Oil, natural gas and natural gas liquids sales:        
Total oil, natural gas and natural gas liquids sales $ 42,576 $ 49,083 $ 89,961 $ 98,615
Other 236 21 326 359
Total operating revenues 42,812 49,104 90,287 98,974
Production:        
Lease operating 10,670 11,005 21,028 22,591
Workover and other 2,309 951 3,742 1,839
Taxes other than income 2,522 3,349 5,322 6,340
Gathering and other 10,958 12,126 22,958 29,412
General and administrative 2,567 3,340 6,980 7,411
Depletion, depreciation and accretion 13,939 13,213 27,019 26,238
Total operating expenses 42,965 43,984 87,049 93,831
(Loss) income from operations (153) 5,120 3,238 5,143
Other income (expenses):        
Net gain (loss) on derivative contracts 11,548 1,223 20,850 (22,964)
Interest expense and other (6,599) (6,448) (13,269) (13,486)
Total other income (expenses) 4,949 (5,225) 7,581 (36,450)
Income (loss) before income taxes 4,796 (105) 10,819 (31,307)
Income tax benefit (provision) 0 0 0 0
Net income (loss) 4,796 (105) 10,819 (31,307)
Preferred dividends (8,270) (8,586) (20,090) (14,218)
Net loss available to common stockholders $ (3,474) $ (8,691) $ (9,271) $ (45,525)
Net loss per share of common stock available to common stockholders:        
Basic (in dollars per share) $ (0.21) $ (0.53) $ (0.56) $ (2.77)
Diluted (in dollars per share) $ (0.21) $ (0.53) $ (0.56) $ (2.77)
Weighted average common shares outstanding:        
Basic (in shares) 16,457 16,457 16,457 16,457
Diluted (in shares) 16,457 16,457 16,457 16,457
Oil        
Oil, natural gas and natural gas liquids sales:        
Total oil, natural gas and natural gas liquids sales $ 36,291 $ 45,699 $ 75,991 $ 88,128
Natural gas        
Oil, natural gas and natural gas liquids sales:        
Total oil, natural gas and natural gas liquids sales 935 (2,119) 3,758 (72)
Natural gas liquids        
Oil, natural gas and natural gas liquids sales:        
Total oil, natural gas and natural gas liquids sales $ 5,350 $ 5,503 $ 10,212 $ 10,559