v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Schedule of Components of Inventory The components of inventory consisted of the following as of June 30, 2026 and December 31, 2025:
June 30,
2026		December 31,
2025
Production equipment
$40,990 $42,122 
Crude oil in storage
1,383 1,389 
Total
$42,373 $43,511 
Schedule of Reconciliation of ARO The following is a reconciliation of ARO for the six months ended June 30, 2026 and 2025 (in thousands):
June 30,
2026		June 30,
2025
Asset retirement obligation at beginning of period$261,856 $101,858 
Liabilities assumed in acquisitions
— 4,210 
Liabilities incurred31 81 
Liabilities settled(267)(184)
Accretion expense12,099 4,224 
Asset retirement obligation at end of period$273,719 $110,189 
Schedule of Concentration Risks The following purchasers each accounted for more than 10% of the Company’s revenues for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Purchaser A21.8 %26.9 %19.5 %26.8 %
Purchaser B14.4 %*16.3 %*
Purchaser C12.8 %24.1 %17.2 %25.0 %
Purchaser D*11.2 %*10.9 %
__________
* Purchaser did not account for greater than 10% of oil, natural gas, and NGL sales for the period.
Schedule of Reconciliation of Revenue Disaggregated to Revenue Reported
The following table displays the revenue disaggregated and reconciles disaggregated revenue to the revenue reported for the three and six months ended June 30, 2026 and 2025 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenues:
Oil$196,988 $111,053 $351,880 $236,066 
Natural gas109,703 69,250 275,280 155,615 
NGL61,551 39,940 107,720 84,933 
Gross oil, natural gas, and NGL sales368,242 220,243 734,880 476,614 
Transportation and gathering(1,390)(831)(2,482)(4,476)
Net oil, natural gas, and NGL sales$366,852 $219,412 $732,398 $472,138 
Schedule of Supplemental Disclosures to the Statement of Cash Flows
Supplemental disclosures to the statements of cash flows are presented below for the six months ended June 30, 2026 and 2025 (in thousands):
Six Months Ended June 30,
20262025
Supplemental disclosure of cash flow information:
Cash paid for interest$46,395 $27,165 
Supplemental disclosure of non-cash transactions:
Change in accrued capital expenditures including amounts in accounts payable$15,963 $1,360 
Asset retirement cost capitalized$31 $81 
Right-of-use assets obtained in exchange for lease liabilities$6,004 $4,092 
Change in accrued distributions$2,330 $1,405 
Change in accrued acquisition costs$(2,320)$— 
Common units cancelled in IKAV acquisition final settlement$(19,047)$—