v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following table summarizes the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis by level within the fair value hierarchy:
June 30, 2026
Level 1Level 2Level 3Total
(In thousands)
Financial assets:
Commodity derivative assets$— $21,650 $— $21,650 
Interest rate assets$— $10 $— $10 
Financial liabilities:
Commodity derivative liabilities$— $(43,401)$— $(43,401)
Silverback earnout payment liabilities
$— $— $(5,647)$(5,647)
December 31, 2025
Level 1Level 2Level 3Total
(In thousands)
Financial assets:
Commodity derivative assets$— $31,437 $— $31,437 
Financial liabilities:
Commodity derivative liabilities$— $(7,179)$— $(7,179)
Interest rate liabilities$— $(149)$— $(149)
Silverback earnout payment liabilities$— $— $(3,100)$(3,100)
The following table summarizes the fair value and carrying amount of the Company's financial instruments:
June 30, 2026December 31, 2025
Carrying AmountFair ValueCarrying AmountFair Value
(In thousands)
Credit Facility (Level 2)
$138,000 $138,000 $110,000 $110,000 
Senior Notes (Level 2)(1)
$129,495 $138,289 $137,855 $149,312 
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(1)The carrying value for the Senior Notes is shown net of unamortized discount and unamortized deferred financing costs.
Schedule of Fair Value of Earnout Payments The following table summarizes the changes in the fair value of our Silverback earnout payments, in addition to the range and arithmetic average of the significant unobservable inputs used in the Level 3 fair value measurement:
Unobservable Inputs
Fair Value
(In thousands)		Valuation Technique
WTI Futures (Arithmetic Average)
December 31, 2025$(3,100)
Monte Carlo
$56.91 - $57.96 ($57.23)
Loss on earnout liabilities(4,120)
March 31, 2026$(7,220)
Monte Carlo
$68.09 - $98.64 ($74.07)
Settled earnout payments938 
Gain on earnout liabilities635 
June 30, 2026$(5,647)
Monte Carlo
$65.63 - $69.50 ($67.25)