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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 10,819 $ (31,307)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depletion, depreciation and accretion 27,019 26,238
Stock-based compensation, net (109) 135
Unrealized (gain) loss on derivative contracts (19,076) 15,327
Amortization/accretion of financing related costs 792 3,390
Accrued settlements on derivative contracts (537) 774
Change in fair value of embedded derivative liability   (1,365)
Other 109 179
Change in assets and liabilities:    
Accounts receivable 3,186 (445)
Prepaids and other 412 85
Accounts payable and accrued liabilities 321 20,730
Net cash provided by operating activities 22,936 33,741
Cash flows from investing activities:    
Oil and natural gas capital expenditures (53,090) (44,849)
Proceeds received from sale of oil and natural gas assets   7,015
Acquisition of oil and natural gas properties   (47)
Contract asset   (7,795)
Other operating property and equipment capital expenditures (14) (17)
Other (370) (13)
Net cash used in investing activities (53,474) (45,706)
Cash flows from financing activities:    
Proceeds from borrowings 63,000  
Repayments of borrowings (5,678) (39,853)
Debt issuance costs (1,875)  
Payment of debt financing costs   (129)
Proceeds from issuance of preferred stock   38,849
Merger deposit   10,000
Net cash provided by financing activities 55,447 8,867
Net increase (decrease) in cash, cash equivalents and restricted cash 24,909 (3,098)
Cash, cash equivalents and restricted cash at beginning of period 19,803 57,619
Cash, cash equivalents and restricted cash at end of period 44,712 54,521
Supplemental cash flow information:    
Cash paid for interest $ 13,892 $ 12,512