v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash $ 14,026 $ 13,124
Accounts receivable, net 35,295 44,411
Prepaid expenses 2,828 1,592
Inventory 3,685 5,734
Current derivative assets 11,160 3,264
Total Current Assets 66,994 68,125
Oil and natural gas properties, net (successful efforts) 867,218 860,797
Other property and equipment, net 40,744 30,477
Non-current derivative assets 0 585
Equity method investment 28,813 22,811
Funds held in escrow 14,201 0
Other non-current assets, net 15,597 10,706
Total Assets 1,033,567 993,501
Current Liabilities:    
Accounts payable 9,231 13,937
Accrued liabilities 31,198 33,918
Revenue payable 32,799 34,786
Current derivative liabilities 12 0
Current portion of long-term debt 20,000 20,000
Other current liabilities 11,535 20,123
Total Current Liabilities 104,775 122,764
Non-current derivative liabilities 1,109 414
Asset retirement obligations 33,592 32,706
Long-term debt 255,191 249,494
Deferred tax liabilities 79,587 76,547
Other non-current liabilities 2,432 961
Total Liabilities 476,686 482,886
Commitments and Contingencies (Note 15)
Shareholders' Equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued and outstanding 0 0
Common stock, $0.001 par value, 240,000,000 shares authorized; 22,045,608 and 21,482,555 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 22 21
Additional paid-in capital 313,908 310,232
Retained earnings 242,951 200,362
Total Shareholders' Equity 556,881 510,615
Total Liabilities and Shareholders' Equity $ 1,033,567 $ 993,501