v3.25.2
Asset Retirement Obligation
6 Months Ended
Jun. 30, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation

Note 8 – Asset Retirement Obligation

 

The following table presents the changes in the Company’s asset retirement obligations for the periods presented:

 

   June 30, 2025   December 31, 2024 
   (In thousands) 
Asset retirement obligation, at the beginning of the period  $227   $ 
Liabilities assumed in acquisitions   2,328    221 
Liabilities incurred through development activities   46     
Accretion of asset retirement obligation   71    6 
Asset retirement obligation, at the end of the period  $2,672   $227 

 

As of June 30, 2025, the asset retirement obligations liabilities assumed in acquisitions fully relate to the Bayswater Acquisition. Refer to Note 3 – Acquisitions for a discussion of the Bayswater Acquisition. As of June 30, 2025, the asset retirement obligations liabilities incurred through development activities fully relate to the wells which came online in February 2025.