v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Assets, Current [Abstract]      
Cash and cash equivalents $ 13,229,000 $ 28,989,000 $ 5,330,000
Accounts receivable 8,637,000 10,176,000 4,036,000
Short-term derivative asset 8,532,000 5,349,000 153,000
Other current assets 2,150,000 1,410,000 185,000
Total current assets 32,548,000 45,924,000 9,704,000
Natural gas and oil mineral interests, net - successful efforts method 477,633,000 460,586,000 155,084,000
Other property and equipment, net 215,000 275,000 0
Other assets 7,892,000 353,000 1,132,000
Total assets 518,288,000 507,138,000 165,920,000
Current liabilities:      
Accounts payable 9,020,000 1,177,000 1,274,000
Accrued liabilities 3,300,000 1,158,000 1,232,000
Accrued dividends 0 7,516,000 2,399,000
Senior notes, current portion 0 6,275,000 6,500,000
Earnout liability, current portion 10,841,000 0  
Operating lease liabilities, current portion 179,000 176,000 0
Total current liabilities 23,340,000 16,302,000 11,405,000
Senior notes, net of unamortized debt issuance costs 68,070,000 227,985,000 56,284,000
Deferred tax liability 0 21,329,000 0
Operating lease liabilities, net of current portion 31,000 121,000 0
Earnout liability, net of current portion 15,076,000 0  
Long-term derivative liability 801,000 4,669,000 6,439,000
Asset retirement obligation 329,000 316,000 0
Total liabilities 107,647,000 270,722,000 74,128,000
Commitments and contingencies (See Note 14)
Equity:      
Additional paid in capital 333,792,000 223,900,000 82,128,000
Accumulated deficit (55,299,000) (15,146,000) (11,561,000)
Total shareholders' equity 375,878,000 208,754,000 70,567,000
Equity, Attributable to Parent, Total 278,493,000 208,754,000  
Non-controlling interest 97,385,000 0  
Total liabilities, mezzanine equity and equity 518,288,000 507,138,000 165,920,000
Series A Preferred Stock      
Mezzanine equity:      
Preferred stock   0 13,308,000
Carrying Value   0 13,308,000
Series B Preferred Stock      
Mezzanine equity:      
Preferred stock 34,763,000 27,662,000 7,917,000
Carrying Value 34,763,000 27,662,000 7,917,000
Common Class A      
Equity:      
Common Stock, Value, Issued 0 0 0
Common Stock Value 0 0 0
Class T Common Stock      
Equity:      
Common Stock, Value, Issued 0 0 0
Common Stock Value 0 0 0
Class I Common Stock      
Equity:      
Common Stock, Value, Issued 0 0 0
Common Stock Value 0 0 $ 0
Common Class B      
Equity:      
Common Stock, Value, Issued 0 0  
Common Stock Value $ 0 $ 0