v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 113,345 $ 110,998
Restricted cash 1,347 1,347
Accounts receivable, net 26,659 26,186
Derivative contracts 4,217 2,773
Prepaid expenses 2,213 748
Other current assets 3,939 5,806
Total current assets 151,720 147,858
Oil and natural gas properties, using full cost method of accounting    
Proved 1,799,920 1,759,943
Unproved 28,101 27,520
Less: accumulated depreciation, depletion and impairment (1,464,076) (1,446,824)
Net oil and natural gas properties 363,945 340,639
Other property, plant and equipment, net 72,621 75,649
Other assets 1,462 1,539
Deferred tax assets, net of valuation allowance 78,336 78,336
Total assets 668,084 644,021
Current liabilities    
Accounts payable and accrued expenses 49,030 59,037
Asset retirement obligations 8,044 8,098
Other current liabilities 750 905
Total current liabilities 57,824 68,040
Derivative contracts 31 0
Asset retirement obligations 66,855 64,293
Other long-term obligations 693 817
Total liabilities 125,403 133,150
Commitments and contingencies (Note 7)
Stockholders’ Equity    
Common stock, $0.001 par value; 250,000 shares authorized; 37,075 issued and outstanding at June 30, 2026 and 36,825 issued and outstanding at December 31, 2025 37 37
Additional paid-in capital 967,039 980,592
Accumulated deficit (424,395) (469,758)
Total stockholders’ equity 542,681 510,871
Total liabilities and stockholders’ equity $ 668,084 $ 644,021