
Joint interest billing	890		8,191
Intercompany receivable	—		1,934
ATO receivable	2,956		722
Other receivables	38		113
Prepaid expenses and other current assets	5,056		—
Total current assets	19,825		14,690
Natural gas properties, successful efforts method:
Unproved properties	464,060		285,631
Assets under construction - natural gas equipment			—
Operating lease right-of-use-assets	1,283		—
Finance lease right-of-use assets	14,345		16,544
Prepaid expenses and other non-current assets	4,604		2,026
Total non-current assets	484,292		304,201
TOTAL ASSETS	$	504,117	$	318,891
LIABILITIES
Current liabilities
Accounts payable and accrued expenses	$	44,788	$	12,507
Current portion of operating lease obligations	1,451		—
Current portion of finance lease obligations	14,410		15,307
Total current liabilities	60,649		27,814
Finance lease obligations	8,354		9,523
Asset retirement obligations	6,181		5,127
Loan from Group	247,762		163,016
Total non-current liabilities	262,297		177,666
TOTAL LIABILITIES	$	322,946	$	205,480

The following table summarizes the carrying amounts of SPCF Sub Trust’s assets and liabilities included in the Group’s consolidated balance sheet as of June 30, 2026 and 2025 (in thousands):


	June 30,
	2026		2025
ASSETS
Current assets
Cash and cash equivalents	$	3,872	$	1,935
Restricted cash	11,960		—
Trade and other receivables:


ATO receivable	396		123
Other receivables	45		—
Loan to Group	—		1,124
Total current assets	16,273		3,182
Natural gas properties, successful efforts method:

Assets under construction - natural gas equipment	72,287		24,441

Prepaid expenses and other non-current assets	2,608		—
Total non-current assets	74,895		24,441
TOTAL ASSETS	$	91,168	$	27,623
LIABILITIES
Current liabilities
Accounts payable and accrued expenses	$	7,380	$	4,364
Advance against joint interest billings	—		450
Intercompany payable	3,102		1,338

Total current liabilities	10,482		6,152
Asset retirement obligations	204		95

Long-term debt, net	59,043		—
Other non-current liabilities	746		—
Total non-current liabilities	59,993		95
TOTAL LIABILITIES	$	70,475	$	6,247