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v3.25.1

Supplemental Disclosure of Oil and Natural Gas Operations (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2024
Supplemental Disclosure of Oil and Natural Gas Operations (Unaudited) [Abstract] |
Schedule of Capitalized Costs Related to Crude Oil and Natural Gas Exploration and Production Activities | Aggregate capitalized costs related to crude oil and natural gas exploration and production activities with applicable accumulated depreciation, depletion, and amortization are presented below as of the dates indicated:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Oil and natural gas properties |  |  |  |  |  |
Proved |  | $ | 100,285,138 |  |  | $ | 94,189,372 |
Less: accumulated depreciation, depletion, and amortization |  |  | (2,759,226 | ) |  |  | (352,127 | )
Net oil and natural gas properties capitalized costs |  | $ | 97,525,912 |  |  | $ | 93,837,245 |
Schedule of Costs Incurred in Crude Oil and Natural Gas Exploration | Costs incurred in crude oil and natural gas exploration and development for the periods presented:
|  | Successor |  |  | Predecessor |
|  | For the Year Ended December 31, 2024 |  |  | November 15, 2023 to December 31, 2023 |  |  | January 1, 2023 to November 14, 2023 |
Exploration costs |  | $ | - |  |  | $ | - |  |  | $ | - |
Development costs |  |  | 6,095,765 |  |  |  | 238,499 |  |  |  | 6,769,557 |
Total |  | $ | 6,095,765 |  |  | $ | 238,499 |  |  | $ | 6,769,557 |
Schedule of Proved Developed and Proved Undeveloped Reserves | The following table and subsequent narrative disclosure provides a roll forward of the total proved reserves for the years ended December 31, 2024 and 2024 as well as proved developed and proved undeveloped reserves at the beginning and end of each respective year:
|  | For the years ended December 31, |
|  | 2024 |  |  | 2023 |
|  | Oil (MBbls) |  |  | Natural Gas (MMcf) |  |  | Total (MBoe) |  |  | Oil (MBbls) |  |  | Natural Gas (MMcf) |  |  | Total (MBoe) |
Proved Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of period |  |  | 15,414 |  |  |  | 3,525 |  |  |  | 16,001 |  |  |  | 17,577 |  |  |  | 4,572 |  |  |  | 18,339 |
Extensions and discoveries |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,817 |  |  |  | 495 |  |  |  | 1,900 |
Dispositions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,758 | ) |  |  | (457 | ) |  |  | (1,834 | )
Revisions to previous estimates |  |  | (1,140 | ) |  |  | (471 | ) |  |  | (1,219 | ) |  |  | (1,758 | ) |  |  | (729 | ) |  |  | (1,995 | )
Production |  |  | (256 | ) |  |  | (213 | ) |  |  | (291 | ) |  |  | (349 | ) |  |  | (356 | ) |  |  | (409 | )
End of period |  |  | 14,018 |  |  |  | 2,840 |  |  |  | 14,492 |  |  |  | 15,414 |  |  |  | 3,525 |  |  |  | 16,001 |
Proved Developed Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of period |  |  | 11,277 |  |  |  | 2,674 |  |  |  | 11,723 |  |  |  | 13,014 |  |  |  | 3,572 |  |  |  | 13,609 |
End of period |  |  | 9,803 |  |  |  | 2,056 |  |  |  | 10,145 |  |  |  | 11,277 |  |  |  | 2,674 |  |  |  | 11,723 |
Proved Undeveloped Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of period |  |  | 4,137 |  |  |  | 850 |  |  |  | 4,279 |  |  |  | 4,564 |  |  |  | 1,000 |  |  |  | 4,730 |
End of period |  |  | 4,215 |  |  |  | 784 |  |  |  | 4,346 |  |  |  | 4,137 |  |  |  | 850 |  |  |  | 4,279 |
Schedule of Standardized Measure of Discounted Future Net Cash Flows | The standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves is as follows:
|  | For the year ended December 31, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Future cash inflows |  | $ | 1,086,436 |  |  | $ | 1,216,840 |
Future production costs |  |  | (453,384 | ) |  |  | (438,653 | )
Future development costs |  |  | (94,156 | ) |  |  | (94,156 | )
Future net cash flows |  |  | 538,896 |  |  |  | 684,031 |
10% annual discount for estimated timing of cash flows |  |  | (331,634 | ) |  |  | (403,413 | )
Standardized measure of discounted future net cash flows |  | $ | 207,262 |  |  | $ | 280,618 |
Schedule of Changes in the Standardized Measure of Discounted Future Net Cash Flows | Changes in the standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves are as follows:
|  | For the year ended December 31, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Balance, beginning of period (Successor for 2024, Predecessor for 2023) |  | $ | 280,618 |  |  | $ | 519,547 |
Net change in sales and transfer prices and in production (lifting) costs related to future production |  |  | (32,505 | ) |  |  | (95,981 | )
Sales and transfers of oil and natural gas produced during the period |  |  | (9,504 | ) |  |  | (22,914 | )
Changes in estimated future development costs |  |  | 1,550 |  |  |  | (2,313 | )
Previously estimated development incurred during the period |  |  | 5,628 |  |  |  | 7,008 |
Net purchases (divestitures) of reserves in place |  |  | - |  |  |  | (138,893 | )
Net change due to revisions in quantity estimates |  |  | (20,516 | ) |  |  | (45,534 | )
Net change due to extensions and discoveries, and improved recovery |  |  | — |  |  |  | — |
Accretion of discount |  |  | 28,062 |  |  |  | 51,955 |
Timing and other differences |  |  | (46,070 | ) |  |  | (446 | )
Standardized measure of discounted future net cash flows (Successor for 2024, Predecessor for 2023) |  | $ | 207,262 |  |  | $ | 280,618 |

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