v3.26.1
Segment Reporting
6 Months Ended
Jun. 30, 2026
Segment Reporting  
Segment Reporting

Note 16 – Segment Reporting

The Company’s operations are managed and reported to its CEO, the Company’s CODM, on a consolidated basis. The CEO uses consolidated net loss in assessing performance of capital spend projects to allocate the appropriate resources to drive efficiencies and develop growth strategies. Under the organizational and reporting structure, the Company has one operating segment and one reportable segment.

The CODM is provided with the following significant segment expenses within lease operating expense on the unaudited interim condensed consolidated statements of operations:

For the Three Months Ended June 30, 

 

For the Six Months Ended June 30, 

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Production costs

$

4,383

$

5,911

$

8,915

$

11,292

Workover activity

 

651

 

417

 

1,022

 

802

Plugging and abandonment activity

 

3

 

59

 

260

 

59

Total Lease operating expense

$

5,037

$

6,387

$

10,197

$

12,153

Other segment items within consolidated net loss are all separately disclosed on the unaudited interim condensed consolidated statements of operations. Segment asset information is not presented to and used by the CODM to allocate resources, assess performance or make strategic decisions.