v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 43,390 $ 9,274
Restricted cash 6,132 10,405
Accounts receivable 74,189 69,752
Other current assets 6,257 7,490
Total current assets 129,968 96,921
Property, plant and equipment, net 1,836,358 1,844,146
Intangible assets, net 150,892 153,564
Investment in Double E 263,226 265,583
Other noncurrent assets 25,949 27,395
TOTAL ASSETS 2,406,393 2,387,609
LIABILITIES AND EQUITY    
Trade accounts payable 27,585 31,652
Accrued expenses 36,116 24,270
Deferred revenue 9,135 10,122
Ad valorem taxes payable 4,975 10,190
Accrued compensation and employee benefits 4,223 12,063
Accrued interest 9,891 30,045
Accrued environmental remediation 1,573 1,710
Accrued settlement payable 8,333 8,333
Current portion of long-term debt 850 21,223
Other current liabilities 5,522 27,185
Total current liabilities 108,203 176,793
Deferred tax liabilities, net 91,389 73,635
Long-term debt, net 1,264,914 1,024,347
Noncurrent deferred revenue 17,577 18,398
Noncurrent accrued environmental remediation 52 52
Other noncurrent liabilities 9,266 6,532
TOTAL LIABILITIES 1,491,401 1,299,757
Commitments and contingencies (See Note 8)
Mezzanine Equity    
Subsidiary Series A Preferred Units (nil and 93,039 units issued and outstanding as of March 31, 2026 and December 31, 2025, respectively) 0 141,296
Equity    
Additional paid-in capital 739,647 638,427
Accumulated deficit (208,197) (202,902)
Total Company stockholders’ equity 595,816 546,180
Noncontrolling interest 319,176 400,376
Total Equity 914,992 946,556
TOTAL LIABILITIES AND EQUITY 2,406,393 2,387,609
Series A Preferred Stock    
Equity    
Series A Preferred Stock (65,508 shares authorized, issued and outstanding as of March 31, 2026 and December 31, 2025) 64,165 110,468
Common Stock    
Equity    
Common stock, value issued 136 122
Class B Common Stock    
Equity    
Common stock, value issued $ 65 $ 65