Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Management Services Agreement. On October 27, 2023, the Company entered into a management services agreement (the “MSA”) with Mach Resources. Under the MSA, Mach Resources manages and performs all aspects of oil and gas operations and other general and administrative functions for the Company and the Company (i) will pay Mach Resources an annual management fee of approximately $7.4 million and (ii) reimburse Mach Resources for the costs and expenses of the services provided. On a monthly basis, the Company distributes funding to Mach Resources for performance under the MSA. During the six months ended June 30, 2026 and 2025, the Company paid Mach Resources $91.3 million (inclusive of $3.7 million in management fees presented as general and administrative expense - related party in the statement of operations) and $57.2 million (inclusive of $3.7 million as management fees presented in general and administrative expense - related party in the statement of operations), respectively. During the three months ended June 30, 2026 and 2025, the Company paid Mach Resources $43.0 million (inclusive of $1.9 million in management fees presented as general and administrative expense - related party in the statement of operations) and $25.9 million (inclusive of $1.9 million as management fees presented in general and administrative expense - related party in the statement of operations), respectively. As of June 30, 2026 and December 31, 2025, the Company owed $0.2 million and $0.9 million, respectively, to Mach Resources, presented as accounts payable - related party. Common units purchased by Tom L. Ward In connection with the April 2026 Secondary Offering, Tom L. Ward, Chief Executive Officer and Director, purchased 0.2 million common units at the public offering price of $13.05 per common unit. Transition Services Agreements In connection with the closing of the IKAV and Sabinal Acquisitions, the Company entered into a transition services agreement with each respective counterparty. During the first quarter of 2026, the Company paid the IKAV Sellers $1.4 million for continued assistance in transitioning processes to the Company. For the year ended December 31, 2025, the Company paid the IKAV Sellers and the Sabinal Sellers $1.6 million and $4.3 million, respectively, for continued assistance in transitioning processes to the Company. There were no transition payments made to the IKAV or Sabinal Sellers during the three and six months ended June 30, 2025. Common units purchased by BCE-Mach Aggregator In connection with the February 2025 Offering, BCE-Mach Aggregator, an affiliate of our General Partner, purchased 5.2 million common units at the public offering price, which accounted for $79.2 million of the proceeds received by the Company in the February 2025 Offering, after deducting underwriting fees. In connection therewith, the underwriters received a reduced underwriting discount on such common units purchased by BCE-Mach Aggregator compared to other common units sold to the public in the February 2025 Offering.
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