v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 3,794 $ 1,473
Accounts receivable—oil, natural gas, and natural gas liquids sales 128,614 155,942
Accounts receivable—joint interest and other 11,748 8,727
Prepaid expenses and other current assets 9,576 7,086
Short-term derivative instruments 44,191 58,085
Total current assets 197,923 231,313
Property and equipment:    
Proved oil and natural gas properties 3,669,584 3,349,805
Unproved properties 211,626 221,650
Other property and equipment 12,278 11,291
Total property and equipment 3,893,488 3,582,746
Less: accumulated depletion, depreciation and amortization (1,703,691) (1,564,475)
Total property and equipment, net 2,189,797 2,018,271
Other assets:    
Long-term derivative instruments 20,906 6,003
Deferred tax asset 529,844 581,233
Operating lease assets 956 6,099
Other assets 20,031 22,778
Total other assets 571,737 616,113
Total assets 2,959,457 2,865,697
Current liabilities:    
Accounts payable and accrued liabilities 335,631 298,081
Short-term derivative instruments 53,184 41,889
Current portion of operating lease liabilities 804 5,538
Total current liabilities 389,619 345,508
Non-current liabilities:    
Long-term derivative instruments 44,793 35,081
Asset retirement obligation 32,703 32,949
Non-current operating lease liabilities 153 561
Long-term debt 695,154 702,857
Total non-current liabilities 772,803 771,448
Total liabilities 1,162,422 1,116,956
Commitments and contingencies (Note 9)
Mezzanine equity:    
Preferred stock - $0.0001 par value, 110.0 thousand shares authorized, 31.4 thousand issued and outstanding at June 30, 2025, and 37.3 thousand issued and outstanding at December 31, 2024 31,356 37,348
Stockholders’ equity:    
Common stock - $0.0001 par value, 42.0 million shares authorized, 17.6 million issued and outstanding at June 30, 2025, and 17.8 million issued and outstanding at December 31, 2024 2 2
Additional paid-in capital 1,509 129,059
Retained earnings 1,764,668 1,582,332
Treasury stock, at cost - 2.5 thousand shares at June 30, 2025 and 0 shares at December 31, 2024 (500) 0
Total stockholders’ equity 1,765,679 1,711,393
Total liabilities, mezzanine equity and stockholders’ equity $ 2,959,457 $ 2,865,697

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