v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents (Note 13) $ 126,728 $ 82,931
Accounts receivable 32,838 32,908
Inventory 48,425 55,384
Taxes receivable (Note 4) 15,038 27,113
Derivatives (Note 12) 3,077 10,147
Prepaid expenses 12,856 5,044
Total Current Assets 238,962 213,527
Oil and Gas Properties    
Proved 1,073,792 1,154,836
Unproved 108,769 108,339
Total Oil and Gas Properties 1,182,561 1,263,175
Other capital assets 54,381 41,245
Total Property, Plant and Equipment 1,236,942 1,304,420
Other Long-Term Assets    
Deferred tax assets 66,640 56,268
Taxes receivable long-term (Note 4) 10,227 1,912
Other long-term assets (Note 12 and 13) 11,324 9,952
Total Other Long-Term Assets 88,191 68,132
Total Assets 1,564,095 1,586,079
Current Liabilities    
Accounts payable, accrued liabilities and other (Note 6 and 7) 383,814 314,005
Current portion of long-term debt (Note 6 and 12) 45,717 21,212
Taxes payable (Note 4) 15,109 11,906
Derivatives (Note 12) 30,693 0
Equity compensation award liability (Note 8) 17,991 8,569
Total Current Liabilities 493,324 355,692
Long-Term Liabilities    
Long-term debt (Note 6 and 12) 551,812 686,521
Customer advance (Note 7) 201,409 115,909
Deferred tax liabilities 40,740 53,458
Asset retirement obligation 113,527 118,876
Equity compensation award liability (Note 8) 17,032 14,993
Other long-term liabilities (Note 4) 14,019 11,886
Total Long-Term Liabilities 938,539 1,001,643
Contingencies (Note 11)
Shareholders' Equity    
Common Stock (35,380,429 and 35,298,774 issued and outstanding shares of Common Stock as at June 30, 2026 and December 31, 2025, respectively, par value $0.001 per share), (Note 8) 9,939 9,939
Additional paid-in capital 1,269,926 1,269,178
Accumulated other comprehensive (loss) gain (389) 2,560
Deficit (1,147,244) (1,052,933)
Total Shareholders’ Equity 132,232 228,744
Total Liabilities and Shareholders’ Equity $ 1,564,095 $ 1,586,079