v3.26.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 146,346,000 $ 162,075,000
Accounts receivable 83,064,000 55,546,000
Derivative instruments 27,815,000 29,574,000
Inventory 3,817,000 7,648,000
Prepaid expenses 3,217,000 5,054,000
Total current assets 264,259,000 259,897,000
Crude oil and natural gas properties, using the successful efforts method of accounting:    
Proved properties 4,663,607,000 4,477,368,000
Unproved properties 57,439,000 59,285,000
Accumulated depletion, depreciation and amortization (1,832,511,000) (1,606,217,000)
Total crude oil and natural gas properties, net 2,888,535,000 2,930,436,000
Other property and equipment, net 3,259,000 3,012,000
Derivative instruments 3,349,000 4,197,000
Other noncurrent assets 15,182,000 16,172,000
Total assets 3,174,584,000 3,213,714,000
Current liabilities:    
Current maturities of long-term debt 120,000,000 60,000,000
Accounts payable – trade 52,609,000 84,313,000
Accrued capital expenditures 45,471,000 30,921,000
Revenues and royalties payable 32,610,000 30,665,000
Derivative instruments 25,652,000 380,000
Other accrued liabilities 13,877,000 20,927,000
Derivative settlements payable 11,960,000 0
Advances from joint interest owners 2,867,000 2,205,000
Operating leases 448,000 845,000
Total current liabilities 305,494,000 230,256,000
Noncurrent liabilities:    
Long-term debt, net 1,068,913,000 1,132,807,000
Deferred income taxes 228,433,000 239,636,000
Asset retirement obligations 16,659,000 15,944,000
Derivative instruments 3,881,000 360,000
Operating leases 75,000 142,000
Commitments and Contingencies  
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value, 600,000,000 shares authorized, 126,452,804 and 125,330,104 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 13,000 13,000
Additional paid-in capital 1,163,740,000 1,162,007,000
Retained earnings 387,376,000 432,549,000
Total stockholders’ equity 1,551,129,000 1,594,569,000
Total liabilities and stockholders’ equity $ 3,174,584,000 $ 3,213,714,000