Transactions with Related Parties

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Transactions with Related Parties

Transactions with Related Parties

Contract Services

RPOC provides certain administrative services to Combo Resources, LLC ("Combo") and is also the contract operator on behalf of Combo in exchange for a monthly fee of $100 thousand and reimbursement of all third party expenses pursuant to a contract services agreement. Additionally, RPOC provides certain administrative and operational services to Riley Exploration Group, LLC ("REG") in exchange for a monthly fee of $100 thousand pursuant to a contract services agreement. Combo and REG are portfolio companies of Yorktown Energy Partners XI, L.P. ("Yorktown XI"), certain managed funds of which have investments in the Company (all deemed to be related parties). As of December 31, 2023, our Executive Vice President - Business Intelligence was the President of both REG and Combo, as well as a board member of Combo.

The following table presents revenues from and related cost for contract services for related parties:

	Year Ended December 31,
	2023		2022
	(In thousands)
Combo	$	1,200	$	1,200
REG	1,200		1,200
Contract services - related parties	$	2,400	$	2,400
Cost of contract services	$	579	$	450

The Company had amounts payable to Combo of $0.7 million and $0.4 million at December 31, 2023 and 2022, respectively, which are reflected in other current liabilities in the accompanying consolidated balance sheets. Amounts due to Combo reflect the revenue, net of any expenditures for wells and fees due under the contract services agreement, for Combo's

net working interest in wells that the Company operates on Combo's behalf. See Note 14 - Subsequent Events for additional information regarding arrangements with Combo occurring after December 31, 2023.

Consulting and Legal Fees

The Company has an engagement agreement with di Santo Law PLLC ("di Santo Law"), a law firm owned by Beth di Santo, a member of our Board of Directors, pursuant to which di Santo Law's attorneys provide legal services to the Company. For the years ended December 31, 2023 and 2022, the Company incurred legal fees from di Santo Law of approximately $1.2 million, and $0.7 million, respectively. As of December 31, 2023, the Company had approximately $0.6 million in amounts accrued for di Santo Law, which was included in accrued liabilities in the accompanying consolidated balance sheets.