Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Oil Derivative Contracts and Interest Rate Swap

The following table sets forth the volumes in barrels underlying the Company’s outstanding oil derivative contracts and the weighted average prices per Bbl for those contracts as of September 30, 2026. Volumes and weighted average prices are net of any offsetting derivative contracts entered into.


				Weighted Average Price per Bbl
				Net Deferred
				Premium
				Payable/		Sold
Term	Type of Contract	Index	MBbl	(Receivable)	Swap	Put	Floor	Ceiling
2026:
Oct - Dec	Three-way collars	Dated Brent	500	—	—	50.00	60.00	75.51
Oct - Dec	Swaps(1)	Dated Brent	250	—	72.46	—	—	100.00
Oct - Dec	Swaps(1)	Dated Brent	500	—	69.70	55.00	—	—
Oct - Dec	Swaps(1)	NYMEX WTI	375	—	64.83	50.00	—	—
2027:
Jan - Dec	Three-way collars	Dated Brent	2,000	0.40	—	47.50	60.00	75.00
Jan - Jun	Three-way collars	Dated Brent	2,000	0.03	—	55.00	70.00	85.00
Jan - Dec	Two-way collars	Dated Brent	3,000	0.73	—	—	68.33	93.33
Jan - Dec	Three-way collars	NYMEX WTI	1,000	0.50	—	55.00	70.00	90.00

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(1)Includes option contracts sold to counterparties to enhance Swaps.

Schedule of Derivative Instruments by Balance Sheet Location

The following tables disclose the Company’s derivative instruments as of September 30, 2026 and December 31, 2025, and gain/(loss) from derivatives during the three and nine months ended September 30, 2026 and 2025, respectively:


		Estimated Fair Value
		Asset (Liability)
Type of Contract	Balance Sheet Location	September 30, 2026		December 31, 2025
		(In thousands)
Derivatives not designated as hedging instruments:
Derivative assets:
Commodity	Derivatives assets—current	$	—	$	47,816
Provisional sales contracts	Receivables: Oil and gas sales	—		—

Commodity	Derivatives assets—long-term	18		2,681
Derivative liabilities:
Commodity	Derivatives liabilities—current	(97,263)		—


Commodity	Derivatives liabilities—long-term	(10,809)		—

Total derivatives not designated as hedging instruments		$	(108,054)	$	50,497

Schedule of Derivative Instruments by Location of Gain/(Loss)


		Amount of Gain/(Loss)				Amount of Gain/(Loss)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
Type of Contract	Location of Gain/(Loss)	2026		2025		2026		2025
		(In thousands)
Derivatives not designated as hedging instruments:
Provisional sales contracts	Oil and gas revenue	$	26,862	$	(964)	$	(35,243)	$	(8,571)
Commodity	Derivatives, net	(133,876)		3,646		(334,063)		18,480
Interest rate	Interest expense	—		110		—		766
Total derivatives not designated as hedging instruments		$	(107,014)	$	2,792	$	(369,306)	$	10,675