v3.26.1
Commodity Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Commodity Derivative Financial Instruments  
Schedule of recognized commodity derivative assets and liabilities

June 30, 2026

Gross

 

Effects of

 

Net

Balance Sheet Classification

Presentation

  ​ ​ ​

Netting

  ​ ​ ​

Presentation

Current assets

$

71

$

(33)

$

38

Long-term assets

Total assets

$

71

$

(33)

$

38

Current liabilities

$

33

$

(33)

$

Long-term liabilities

Total liabilities

$

33

$

(33)

$

Schedule of net realized and unrealized amounts reported in earnings related to the oil derivative instruments

For the Three Months Ended June 30, 

For the Six Months Ended June 30, 

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Settlements received (paid) for derivatives, net (1)

$

(4,241)

$

$

(4,241)

$

Non-cash gain (loss) on derivatives, net

 

2,629

 

 

38

 

Loss on derivatives, net

$

(1,612)

$

$

(4,203)

$

(1)For the three and six months ended June 30, 2026, includes amounts early settled by the counterparty on behalf of Empire of approximately $2.1 million. Refer to Note 13 – Related Party Transactions for additional information.
Schedule of outstanding commodity derivative contracts

The following table sets forth the Company’s outstanding commodity derivative contracts as of June 30, 2026:

Quarterly

Weighted-Average

Volume (Bbls)

Fixed Price (Bbl)

2026

Third Quarter

58,000

$

69.89