v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 41,486 $ 60,666
Accounts receivable, net (see Note 13) 19,860 30,141
Short-term derivative instruments 0 15,429
Prepaid expenses and other current assets 23,926 24,358
Total current assets 85,272 130,594
Property and equipment, at cost:    
Oil and natural gas properties, successful efforts method 409,197 388,920
Support equipment and facilities 155,576 154,954
Other 9,637 9,601
Accumulated depreciation, depletion and amortization (370,194) (364,534)
Property and equipment, net 204,216 188,941
Long-term derivative instruments 0 3,425
Restricted investments 42,747 40,241
Operating lease - long term right-of-use asset 2,698 2,998
Deferred tax asset 244,892 233,334
Other long-term assets 1,281 1,367
Total assets 581,106 600,900
Current liabilities:    
Accounts payable 22,477 17,901
Revenues payable 7,505 5,638
Accrued liabilities (see Note 13) 20,684 34,518
Short-term derivative instruments 22,776 0
Total current liabilities 73,442 58,057
Asset retirement obligations 73,504 72,376
Long-term derivative instruments 1,818 0
Operating lease liability 2,341 2,568
Other long-term liabilities 9,434 9,176
Total liabilities 160,539 142,177
Commitments and contingencies (see Note 16)
Stockholders' equity:    
Preferred stock, $0.01 par value: 50,000,000 shares authorized; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock, $0.01 par value: 250,000,000 shares authorized; 41,288,706 and 40,719,957 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 413 407
Additional paid-in capital 445,770 445,816
Accumulated earnings (deficit) (25,616) 12,500
Total stockholders' equity 420,567 458,723
Total liabilities and equity $ 581,106 $ 600,900