Segments (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Segment Reporting [Abstract] |
|
| Schedule Of Summarizes Segment Operating Profit and Reconciliation to Net Income (Loss) |
The following table summ a rizes segment operating profit and reconciliation to net inco m e (loss) for the periods presented:
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Three Months Ended March 31, |
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| Segment operating profit |
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|
Mineral and Non-operating |
|
$ |
7,658 |
|
|
$ |
10,491 |
|
| Operating |
|
|
36,257 |
|
|
|
902 |
|
| Securities |
|
|
24,997 |
|
|
|
12,787 |
|
| Eliminations |
|
|
(29,752 |
) |
|
|
(15,543 |
) |
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| Total segment operating profit |
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|
39,160 |
|
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|
8,637 |
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|
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| Interest income |
|
|
689 |
|
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|
22 |
|
| Interest expense, net |
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|
(35,849 |
) |
|
|
(16,921 |
) |
| Gain (loss) on derivatives |
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|
1,920 |
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|
(67 |
) |
| Loss on debt extinguishment |
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|
(321 |
) |
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|
(76 |
) |
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| Net income (loss) |
|
$ |
5,599 |
|
|
$ |
(8,405 |
) |
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| Schedule of Segment Reporting Information by Segment |
The following tables present financial information by seg m ent for the three m ont hs ended March 31, 2025 and 2024 and as of March 31, 2025 and December 31, 2024.
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Three Months Ended March 31, |
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Significant expenses |
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Mineral and Non-operating |
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|
|
|
|
Cost of sales |
|
$ |
4,582 |
|
|
$ |
6,391 |
|
Depreciation, depletion, amortization, and accretion |
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|
8,265 |
|
|
|
11,595 |
|
Selling, general, and administrative |
|
|
4,944 |
|
|
|
2,335 |
|
Payroll and payroll-related |
|
|
3,959 |
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|
2,613 |
|
|
|
|
516 |
|
|
|
570 |
|
Operating |
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|
|
|
|
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|
Cost of sales |
|
$ |
22,539 |
|
|
$ |
1,602 |
|
Depreciation, depletion, amortization, and accretion |
|
|
22,960 |
|
|
|
1,810 |
|
Selling, general, and administrative |
|
|
1,997 |
|
|
|
1,301 |
|
Payroll and payroll-related |
|
|
2,019 |
|
|
|
1,057 |
|
|
|
|
— |
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|
|
6 |
|
Securities |
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Advertising and marketing |
|
$ |
320 |
|
|
$ |
5 |
|
Selling, general, and administrative |
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|
2,573 |
|
|
|
1,614 |
|
Payroll and payroll-related |
|
|
1,951 |
|
|
|
1,155 |
|
Interest expense |
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|
Mineral and Non-operating |
|
$ |
23,290 |
|
|
$ |
12,987 |
|
Operating |
|
|
12,559 |
|
|
|
3,934 |
|
Securities |
|
|
(29,752 |
) |
|
|
(15,543 |
) |
Eliminations |
|
|
29,752 |
|
|
|
15,543 |
|
|
|
|
|
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Total interest expense, net |
|
$ |
35,849 |
|
|
$ |
16,921 |
|
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Capital expenditures |
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|
Mineral and Non-operating |
|
$ |
89,319 |
|
|
$ |
48,104 |
|
Operating |
|
|
96,150 |
|
|
|
48,731 |
|
Eliminations |
|
|
(3,194 |
) |
|
|
(2,072 |
) |
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Total capital expenditures |
|
$ |
182,275 |
|
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$ |
94,763 |
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| (a) |
Other segment items include advertising and marketing exp ense, loss on sale of assets, and impairment expense. |
| (b) |
Other segment item includes advertising and marketing expense. |
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Assets |
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Mineral and Non-operating |
|
$ |
949,292 |
|
|
$ |
898,300 |
|
Operating |
|
|
420,264 |
|
|
|
332,721 |
|
Securities |
|
|
2,899 |
|
|
|
6,918 |
|
Eliminations |
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|
(237,783 |
) |
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|
(208,869 |
) |
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Total assets |
|
$ |
1,134,672 |
|
|
$ |
1,029,070 |
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| Schedule of Summarizes the Company's Oil and Natural Properties by Proved and Unproved Properties, Location and by Segment |
The following tables summarize the Company’s oil and natural prop ert ies by proved and unproved properties, location and by segment (before accumulated depletion):
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Oil and natural gas properties, proved |
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Williston Basin |
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$ |
196,909 |
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$ |
450,018 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
646,927 |
|
Powder River Basin |
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|
49,386 |
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— |
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— |
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— |
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|
49,386 |
|
Denver-Julesburg |
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|
45,565 |
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— |
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— |
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|
— |
|
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|
45,565 |
|
Permian Basin |
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|
20,050 |
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— |
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— |
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|
— |
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|
20,050 |
|
Marcellus |
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|
1,306 |
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— |
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— |
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— |
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|
1,306 |
|
Uinta Basin |
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35,869 |
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|
— |
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|
— |
|
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|
— |
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|
35,869 |
|
Other |
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|
1,702 |
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— |
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— |
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— |
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|
1,702 |
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Total proved properties |
|
$ |
350,787 |
|
|
$ |
450,018 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
800,805 |
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Oil and natural gas properties, unproved |
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|
Williston Basin |
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$ |
273,216 |
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$ |
7,870 |
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$ |
— |
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|
$ |
— |
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|
$ |
281,086 |
|
Powder River Basin |
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|
29,869 |
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|
— |
|
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|
— |
|
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|
— |
|
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|
29,869 |
|
Denver-Julesburg |
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|
35,639 |
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— |
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— |
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— |
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|
35,639 |
|
Permian Basin |
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6,752 |
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— |
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— |
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— |
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|
6,752 |
|
Uinta Basin |
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38,086 |
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— |
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— |
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|
— |
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|
38,086 |
|
Other |
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|
1,849 |
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— |
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— |
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— |
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|
1,849 |
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Total unproved properties |
|
$ |
385,411 |
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|
$ |
7,870 |
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$ |
— |
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$ |
— |
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$ |
393,281 |
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Oil and natural gas properties, proved |
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|
Williston Basin |
|
$ |
184,740 |
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$ |
351,864 |
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|
$ |
— |
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|
$ |
— |
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$ |
536,604 |
|
Powder River Basin |
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|
47,780 |
|
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|
— |
|
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|
— |
|
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|
— |
|
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|
47,780 |
|
Denver-Julesburg |
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|
45,193 |
|
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|
— |
|
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|
— |
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|
— |
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|
45,193 |
|
Permian Basin |
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|
20,050 |
|
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|
— |
|
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|
— |
|
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|
— |
|
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|
20,050 |
|
Marcellus |
|
|
1,306 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,306 |
|
Uinta Basin |
|
|
34,731 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
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|
34,731 |
|
Other |
|
|
1,702 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,702 |
|
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|
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|
Total proved properties |
|
$ |
335,502 |
|
|
$ |
351,864 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
687,366 |
|
|
|
|
|
|
|
|
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Oil and natural gas properties, unproved |
|
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|
Williston Basin |
|
$ |
209,437 |
|
|
$ |
7,300 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
216,737 |
|
Powder River Basin |
|
|
29,853 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
29,853 |
|
Denver-Julesburg |
|
|
35,619 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
35,619 |
|
Permian Basin |
|
|
6,752 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6,752 |
|
Uinta Basin |
|
|
28,045 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
28,045 |
|
Other |
|
|
1,849 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,849 |
|
|
|
|
|
|
|
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|
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|
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|
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|
Total unproved properties |
|
$ |
311,555 |
|
|
$ |
7,300 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
318,855 |
|
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