v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total Revenues $ 85,394 $ 105,403 $ 187,851 $ 205,147
Costs and Expenses:        
Lease operating expenses 18,880 16,492 37,211 33,261
Production and ad valorem taxes 6,126 7,174 12,796 14,405
Exploration costs 47 60 56 64
Depletion, depreciation, amortization and accretion 19,563 17,470 38,701 35,249
Impairment of oil and natural gas properties 1,214 0 1,214 0
General and administrative:        
Administrative costs 6,199 6,644 13,637 11,983
Share-based compensation expense 2,685 3,281 4,054 4,973
Transaction costs 1,926 670 1,926 670
Total Costs and Expenses 56,640 51,791 109,595 100,968
Income from Operations 28,754 53,612 78,256 104,179
Other Income (Expense):        
Interest expense, net (7,171) (8,857) (13,832) (17,924)
Gain (loss) on derivatives, net 18,720 (359) 12,870 (17,436)
Loss from equity method investment (129) (192) (248) (25)
Total Other Income (Expense) 11,420 (9,408) (1,210) (35,385)
Net Income from Operations before Income Taxes 40,174 44,204 77,046 68,794
Income tax expense (9,704) (10,656) (17,943) (16,488)
Net Income $ 30,470 $ 33,548 $ 59,103 $ 52,306
Net Income per Share:        
Basic (USD per Share) $ 1.44 $ 1.61 $ 2.80 $ 2.57
Diluted (USD per Share) $ 1.44 $ 1.59 $ 2.80 $ 2.55
Weighted Average Common Shares Outstanding:        
Basic (in Shares) 21,141 20,866 21,126 20,378
Diluted (in Shares) 21,158 21,087 21,135 20,539
Related Party        
General and administrative:        
Cost of contract services - related parties $ 0 $ 0 $ 0 $ 363
Oil and natural gas sales, net        
Revenues:        
Total Revenues 85,394 105,343 187,851 204,767
Contract services - related parties        
Revenues:        
Total Revenues $ 0 $ 60 $ 0 $ 380