v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flow from operating activities:    
Net income (loss) $ (40,268) $ (8,312)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Unrealized (gain) loss on commodity derivative instruments (7,051) (370)
Depletion, depreciation and accretion 19,863 9,177
Stock-based compensation 1,408 0
Amortization of debt issuance costs 496 364
Loss on extinguishment of debt 21,722 3,839
Change in Fair Value of earn out liability 1,694 0
Deferred income taxes 5,932 (4,595)
Changes in operating assets and liabilities (net of assets and liabilities acquired)    
Accounts receivable 1,539 (4,371)
Other current assets (740) (801)
Other assets (274) 1,097
Accounts payable 7,842 (830)
Accrued liabilities and other liabilities (5,461) 833
Net cash provided by (used in) operating activities 6,702 (3,969)
Cash flows from investing activities:    
Purchases of oil and gas properties, net of post-close adjustments (36,836) (115,003)
Internalization, net of cash (2,882) 0
Acquisition of PHX, net of cash 0 (192,782)
Net cash provided by (used in) investing activities (39,718) (307,785)
Cash flows from financing activities:    
Proceeds from Senior Notes 0 186,000
Repayment of Senior Notes (187,410) (3,250)
Deferred financing costs (8,222) (5,712)
Proceeds from the issuance of common stock, net 214,389 105,805
Common stock redemptions (854) (140)
Dividends paid to common stock (4,662) (4,393)
Dividend equivalent rights paid (52) 0
Net cash provided by (used in) financing activities 17,256 319,380
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation, Total (15,760) 7,626
Cash and cash equivalents, beginning of period 28,989 5,330
Cash and cash equivalents, end of period 13,229 12,956
Supplemental Cash Flow Information [Abstract]    
Cash paid for interest 10,954 5,915
Cash paid for income taxes 1,898 0
Noncash Investing and Financing Items [Abstract]    
Dividends paid to common stock holders through common stock issuances pursuant to distribution reimbursement plan 1,534 0
Change in dividends declared but not yet paid (7,542) 1,728
Series A Preferred Stock [Member]    
Cash flows from financing activities:    
Preferred Stock redemptions 0 (19,000)
Dividends paid to Preferred Stock 0 (794)
Series B Preferred Stock [Member]    
Cash flows from financing activities:    
Proceeds from the issuance of preferred stock, net 18,541 7,520
Preferred Stock redemptions (10,182) 0
Dividends paid to Preferred Stock (1,258) (615)
Series C Preferred Stock [Member]    
Cash flows from financing activities:    
Proceeds from the issuance of preferred stock, net 0 56,000
Dividends paid to Preferred Stock 0 (2,041)
Series D Preferred Stock [Member]    
Cash flows from financing activities:    
Proceeds from the issuance of preferred stock, net 37,768 0
Preferred Stock redemptions (37,780) 0
Dividends paid to Preferred Stock $ (3,022) $ 0