CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
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| Revenues: | ||||||
| Royalty revenue | $ 17,813 | $ 10,306 | $ 43,429 | $ 18,345 | $ 50,075 | $ 12,702 |
| Gain (loss) on commodity derivative instruments | 10,984 | 10,726 | 5,675 | 1,852 | 16,648 | (4,418) |
| Lease bonus and other revenue | 280 | 85 | 797 | 87 | 872 | 1,166 |
| Total revenue | 29,077 | 21,117 | 49,901 | 20,284 | 67,595 | 9,450 |
| Operating expenses: | ||||||
| General and administrative | 4,379 | 9,596 | 7,971 | 10,487 | 16,585 | 2,792 |
| Management fees | 15,841 | 2,173 | 18,822 | 3,596 | 9,966 | 4,681 |
| Depletion, depreciation and accretion | 10,198 | 5,978 | 19,863 | 9,177 | 24,237 | 10,827 |
| Total operating expenses | 30,418 | 17,747 | 46,656 | 23,260 | 50,788 | 18,300 |
| Operating income (loss) | (1,341) | 3,370 | 3,245 | (2,976) | 16,807 | (8,850) |
| Other expense: | ||||||
| Loss on extinguishment of debt | 21,722 | 3,839 | 21,722 | 3,839 | 3,839 | 359 |
| Change in fair value of earnout liability | 1,694 | 0 | 1,694 | 0 | ||
| Loss on sale of assets | 123 | 0 | ||||
| Interest expense, net | 5,034 | 4,345 | 11,031 | 6,092 | 19,070 | 3,939 |
| Income (loss) before income taxes | (29,791) | (4,814) | (31,202) | (12,907) | (6,225) | (13,148) |
| Provision for (benefit from) income taxes | 9,414 | (4,595) | 9,066 | (4,595) | (2,640) | (1,587) |
| Net income (loss) | (39,205) | (219) | (40,268) | (8,312) | (3,585) | (11,561) |
| Net (income) loss attributable to non-controlling interests | 115 | 0 | 115 | 0 | ||
| Earnings allocated to participating securities | (4,420) | (2,367) | (5,507) | (3,540) | (7,341) | (5,266) |
| Net income (loss) attributable to common stockholders | $ (43,510) | $ (2,586) | $ (45,660) | $ (11,852) | $ (10,926) | $ (16,827) |
| Earnings(loss) per common share: | ||||||
| Common shares - Basic | $ (2.54) | $ (0.47) | $ (2.86) | $ (2.34) | $ (1.3) | $ (3.88) |
| Common shares - Diluted | $ (2.54) | $ (0.47) | $ (2.86) | $ (2.34) | $ (1.3) | $ (3.88) |
| Weighted average number of shares outstanding: | ||||||
| Weighted Common shares - Basic | 17,144 | 5,461 | 15,948 | 5,060 | 8,378 | 4,340 |
| Weighted Common shares - Diluted | 17,144 | 5,461 | 15,948 | 5,060 | 8,378 | 4,340 |
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of assets utilized in financial service operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of open agreements to purchase or sell mineral resources, energy, and agricultural products at some future point held at each balance sheet date, that was included in earnings for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Changes In Fair Value Of Earnout Liability No definition available.
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- Definition Earnings Allocated To Participating Securities No definition available.
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- Definition Earnings (Loss) Per Common Share: No definition available.
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- Definition Royalty Revenue No definition available.
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- Definition Weighted Average Number Of Shares Outstanding No definition available.
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