v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 1,674 $ 1,478
Accrued revenue and accounts receivable 71,060 65,572
Commodity derivative assets, net 9,848 18,864
Prepaid expenses and other current assets 6,425 9,722
TOTAL CURRENT ASSETS 89,007 95,636
PROPERTY AND EQUIPMENT    
Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $1,099,220 and $1,063,709 at June 30, 2026 and December 31, 2025, respectively 3,134,600 3,079,340
Accumulated depreciation, depletion, amortization and impairment (1,874,181) (1,855,332)
Oil and natural gas properties, net 1,260,419 1,224,008
Other property and equipment, net of accumulated depreciation of $16,229 and $15,768 at June 30, 2026 and December 31, 2025, respectively 1,020 1,126
NET PROPERTY AND EQUIPMENT 1,261,439 1,225,134
DEFERRED CHARGES AND OTHER LONG-TERM ASSETS 15,465 14,784
TOTAL ASSETS 1,365,911 1,335,554
CURRENT LIABILITIES    
Accounts payable 4,133 2,823
Accrued liabilities 12,111 19,388
Commodity derivative liabilities, net 5,823 0
Other current liabilities 1,627 2,412
TOTAL CURRENT LIABILITIES 23,694 24,623
LONG–TERM LIABILITIES    
Credit facility 196,000 154,000
Accrued incentive compensation 841 1,011
Commodity derivative liabilities, net 3,072 0
Asset retirement obligations 23,312 22,716
Other long-term liabilities 5,526 4,748
TOTAL LIABILITIES 252,445 207,098
COMMITMENTS AND CONTINGENCIES (Note 7)
EQUITY    
Partners' equity – general partner interest 0 0
TOTAL EQUITY 812,988 827,978
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,365,911 1,335,554
Preferred Units    
MEZZANINE EQUITY    
Partners' equity – Series B cumulative convertible preferred units, 14,711 units outstanding at June 30, 2026 and December 31, 2025, respectively 300,478 300,478
Common units    
EQUITY    
Partners' equity – common units, 212,703 and 211,873 units outstanding at June 30, 2026 and December 31, 2025, respectively $ 812,988 $ 827,978