Commitments and Contingencies	6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7 - Commitments and Contingencies We assumed various commitments through the Merger which are included in our commitments and contingencies disclosures as of June 30, 2026. Other than the items discussed below, there have been no changes in commitments and contingencies that differ materially from those disclosed in the 2025 Form 10-K through the filing of this report. Commitments Drilling and Completion Commitments. During the six months ended June 30, 2026, we entered into an agreement that requires us to drill and complete minimum lateral footage requirements on certain existing leases. Failure to satisfy these obligations by March 31, 2028, will require us to pay liquidated damages based on the difference between the actual footage drilled and completed and the minimum requirements. As of June 30, 2026, the liquidated damages could range from zero to a maximum of $80 million, with the maximum exposure assuming no additional development activity occurs prior to March 31, 2028. As of the filing of this report, we expect to meet our obligations under this agreement. In connection with the Merger, we assumed certain oil, gas, and produced water gathering agreements that collectively contain a drilling commitment. The commitment requires us to drill and complete a total of 106 qualifying wells by December 31, 2026, unless our obligation is excused under the terms of the agreements. As of June 30, 2026, we do not expect to meet this commitment; however, we believe our nonperformance is excused under the terms of the agreements. We cannot reasonably estimate the amount of damages, if any, that might be incurred if our position is not sustained. Delivery Commitments. As of June 30, 2026, we have material, long-term transportation and delivery commitments with various parties. These agreements, some of which we assumed through the Merger, require us to make periodic deficiency payments for any shortfalls in delivering specified minimum volume commitments. In connection with the Merger, we assumed delivery commitments under which, as of June 30, 2026, we are required to deliver a minimum of 61 MMBbl of oil through 2030 and 49 Bcf of gas through 2029. As of June 30, 2026, if we fail to deliver any product under all applicable agreements, the aggregate undiscounted deficiency payments would total approximately $214 million. We do not expect to incur material penalties or shortfalls with regard to these commitments. Contingencies We are subject to litigation and claims arising in the ordinary course of business. We accrue for such items when a liability is both probable and the amount can be reasonably estimated. As of the filing of this report, in the opinion of management, the anticipated results of any pending litigation and claims are not expected to have a material effect on our results of operations, our financial position, or our cash flows.

We assumed various commitments through the Merger which are included in our commitments and contingencies disclosures as of June 30, 2026. Other than the items discussed below, there have been no changes in commitments and contingencies that differ materially from those disclosed in the 2025 Form 10-K through the filing of this report.

Drilling and Completion Commitments. During the six months ended June 30, 2026, we entered into an agreement that requires us to drill and complete minimum lateral footage requirements on certain existing leases. Failure to satisfy these obligations by March 31, 2028, will require us to pay liquidated damages based on the difference between the actual footage drilled and completed and the minimum requirements. As of June 30, 2026, the liquidated damages could range from zero to a maximum of $80 million, with the maximum exposure assuming no additional development activity occurs prior to March 31, 2028. As of the filing of this report, we expect to meet our obligations under this agreement.

In connection with the Merger, we assumed certain oil, gas, and produced water gathering agreements that collectively contain a drilling commitment. The commitment requires us to drill and complete a total of 106 qualifying wells by December 31, 2026, unless our obligation is excused under the terms of the agreements. As of June 30, 2026, we do not expect to meet this commitment; however, we believe our nonperformance is excused under the terms of the agreements. We cannot reasonably estimate the amount of damages, if any, that might be incurred if our position is not sustained.

Delivery Commitments. As of June 30, 2026, we have material, long-term transportation and delivery commitments with various parties. These agreements, some of which we assumed through the Merger, require us to make periodic deficiency payments for any shortfalls in delivering specified minimum volume commitments. In connection with the Merger, we assumed delivery commitments under which, as of June 30, 2026, we are required to deliver a minimum of 61 MMBbl of oil through 2030 and 49 Bcf of gas through 2029. As of June 30, 2026, if we fail to deliver any product under all applicable agreements, the aggregate undiscounted

deficiency payments would total approximately $214 million. We do not expect to incur material penalties or shortfalls with regard to these commitments.

We are subject to litigation and claims arising in the ordinary course of business. We accrue for such items when a liability is both probable and the amount can be reasonably estimated. As of the filing of this report, in the opinion of management, the anticipated results of any pending litigation and claims are not expected to have a material effect on our results of operations, our financial position, or our cash flows.