v3.26.1
Acquisitions & Divestitures (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Summary of Asset Acquisition Information The fair value of the consideration transferred and the allocation to the assets acquired and liabilities assumed based on their relative
fair values as of April 30, 2026 were as follows (in thousands):
Consideration paid
Cash consideration
$236,387
Total consideration
$236,387
Net assets acquired
Natural gas and oil properties
$266,336
Property, plant and equipment, net
2,032
Derivatives, net
4,317
Accounts receivable, net
1,261
Asset retirement obligations
(32,081)
Other current liabilities
(5,478)
Net assets acquired
$236,387
The fair value of the consideration transferred and the allocation to the assets acquired and liabilities assumed based on their relative
fair values as of November 24, 2025 were as follows (in thousands):
Consideration paid
Cash consideration
$398,534
Fair value of common stock issued(a)
53,951
Payoff existing credit facility
80,602
Total consideration
$533,087
Net assets acquired
Cash
$51,679
Natural gas and oil properties
553,329
Property, plant and equipment, net
3,097
Other noncurrent assets
773
Accounts receivable, net
22,515
Other current assets
6,323
Asset retirement obligations
(10,963)
Deferred tax liability
(43,118)
Other noncurrent liabilities
(573)
Accounts payable
(8,625)
Other current liabilities
(41,350)
Net assets acquired
$533,087
(a)The fair value of the common stock issued was based on the closing price of the Company’s common stock on November 24, 2025
of $14.51. The fair value of our common stock is a Level 1 input as our stock price is a quoted price in an active market.
Schedule of the Fair Value of the Consideration Transferred and the Provisional Fair Value of Assets Acquired and Liabilities Assumed The fair value of the consideration transferred and the fair value amounts of the assets acquired and liabilities assumed as of March 14,
2025 were as follows (in thousands):
Consideration paid
Cash consideration
$210,753
Fair value of common stock issued(a)
253,270
Payoff existing credit facility
201,533
Total consideration
$665,556
Net assets acquired
Cash
$20,894
Natural gas and oil properties
1,298,477
Property, plant and equipment, net
43,585
Restricted cash
62,048
Other noncurrent assets
28,861
Derivatives, net
4,829
Accounts receivable, net
153,205
Other current assets
14,695
Asset retirement obligations
(179,528)
Borrowings
(518,394)
Other noncurrent liabilities
(38,915)
Accounts payable
(42,967)
Accrued operating expenses
(55,583)
Revenues payable
(44,306)
Other current liabilities
(81,345)
Net assets acquired
$665,556
(a)The fair value of the common stock issued was based on the closing price of the Company’s common stock on March 14, 2025 of
$11.95. The fair value of our common stock is a Level 1 input as our stock price is a quoted price in an active market.
Business Combination, Recognized Asset Acquired and Liability Assumed The fair value of the consideration transferred and the fair value amounts of the assets acquired and liabilities assumed as of March 14,
2025 were as follows (in thousands):
Consideration paid
Cash consideration
$210,753
Fair value of common stock issued(a)
253,270
Payoff existing credit facility
201,533
Total consideration
$665,556
Net assets acquired
Cash
$20,894
Natural gas and oil properties
1,298,477
Property, plant and equipment, net
43,585
Restricted cash
62,048
Other noncurrent assets
28,861
Derivatives, net
4,829
Accounts receivable, net
153,205
Other current assets
14,695
Asset retirement obligations
(179,528)
Borrowings
(518,394)
Other noncurrent liabilities
(38,915)
Accounts payable
(42,967)
Accrued operating expenses
(55,583)
Revenues payable
(44,306)
Other current liabilities
(81,345)
Net assets acquired
$665,556
(a)The fair value of the common stock issued was based on the closing price of the Company’s common stock on March 14, 2025 of
$11.95. The fair value of our common stock is a Level 1 input as our stock price is a quoted price in an active market.