Supplemental Disclosure of Oil and Natural Gas Operations (Unaudited) (Tables)
|
12 Months Ended |
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 | |
|