v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Note 13—Subsequent Events
Senior Note Redemption
On July 15, 2026, the Company redeemed all of the outstanding 9.875% senior notes due 2031 at a redemption price equal to 104.938% of the aggregate principal amount outstanding of $325.0 million plus accrued and unpaid interest up to, but excluding, the redemption date.
2026 Ward County Bolt-On Acquisition
On July 31, 2026, the Company completed its acquisition of approximately 20,500 net leasehold acres and approximately 950 net royalty acres inclusive of both operated and non-operated wells and associated infrastructure for an unadjusted base purchase price of $520.0 million (the “Ward County Bolt-On Acquisition”). The acreage acquired is located in Ward County, Texas, directly offset the Company’s existing position in the core of the Southern Delaware Basin. The unadjusted purchase price is subject to customary adjustments and was funded with cash on hand and borrowings under the Credit Agreement. The Company will account for the Ward County Bolt-On Acquisition as an asset acquisition in accordance with ASC 805, under which the purchase price will be allocated to the assets acquired and liabilities assumed on a relative fair value basis, which the Company is in the process of finalizing.