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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments [Abstract]  
Outstanding Crude Oil and Natural Gas Derivative Contracts in Place
As of September 30, 2025, the Company had the following outstanding crude oil, natural gas, and NGL derivative contracts in place, which settle monthly and are indexed to NYMEX West Texas Intermediate, NYMEX Henry Hub, and Mount Belvieu OPIS, respectively:

   
Settling
October 1,
2025
through
December
31, 2025
    
Settling
January 1,
2026
through
December
31, 2026
    
Settling
January 1,
2027
through
December
31, 2027
    
Settling
January 1,
2028
through
December
31, 2028
  
Crude Oil Swaps:
                        
Notional volume (Bbls)
    
717,598
      
2,241,616
      
1,592,503
      
471,907
  
Weighted average price ($/Bbl)
  
$
67.85
    
$
64.42
    
$
64.16
    
$
63.47
  
Natural Gas Swaps:
                                
Notional volume (MMBtus)
    
3,017,447
      
11,413,134
      
9,874,626
      
4,406,357
  
Weighted average price ($/MMBtu)
  
$
4.33
    
$
4.08
    
$
4.07
    
$
4.00
  
Ethane Swaps:
                                
Notional volume (Bbls)
    
85,845
      
288,956
      
232,375
      
51,809
  
Weighted average price ($/Bbl)
  
$
11.91
    
$
11.54
    
$
11.05
    
$
11.28
  
Propane Swaps:
                                
Notional volume (Bbls)
    
149,550
      
509,724
      
417,744
      
94,220
  
Weighted average price ($/Bbl)
  
$
28.74
    
$
26.36
    
$
26.51
    
$
26.00
  
Iso Butane Swaps:
                                
Notional volume (Bbls)
    
18,772
      
63,185
      
50,812
      
11,328
  
Weighted average price ($/Bbl)
  
$
35.62
    
$
33.92
    
$
30.22
    
$
29.63
  
Normal Butane Swaps:
                                
Notional volume (Bbls)
    
51,933
      
174,809
      
140,580
      
31,343
  
Weighted average price ($/Bbl)
  
$
38.32
    
$
35.24
    
$
31.37
    
$
30.37
  
Pentane Plus Swaps:
                                
Notional volume (Bbls)
    
38,716
      
130,321
      
104,802
      
23,366
  
Weighted average price ($/Bbl)
  
$
46.17
    
$
53.05
    
$
52.40
    
$
52.49
  
Gross and Net Fair Values of Derivative Instruments
The following tables present the gross and net fair values of the Company’s derivative instruments recognized on the condensed consolidated balance sheets for the periods presented:

   
September 30, 2025
  
   
Gross Amounts
Recognized
    
Gross Amounts
Offset in
Consolidated
Balance Sheet
    
Net Amounts
Presented on
the
Consolidated
Balane Sheet
  
   
(In thousands)
  
Current derivative assets
  
$
13,698
    
$
(554
)
  
$
13,134
  
Long-term derivative assets
  
$
7,560
    
$
(1,037
)
  
$
6,523
  
                         
Current derivative liabilities
  
$
(1,602
 )
 
$
1,602
  
  
$
—
  
Long-term derivative liabilities
  
$
—
    
$
—
    
$
—
  

   
December 31, 2024
  
   
Gross Amounts
Recognized
    
Gross Amounts Offset in Consolidated Balance Sheet
    
Net Amounts Presented on
the
Consolidated Balance Sheet
  
   
(In thousands)
  
Current derivative assets
  
$
—
    
$
—
    
$
—
  
Long-term derivative assets
  
$
—
    
$
—
    
$
—
  
                         
Current derivative liabilities
  
$
(2,446
)
  
$
—
    
$
(2,446
)
Long-term derivative liabilities
  
$
(1,949
)
  
$
—
    
$
(1,949
)
Components of Realized Gain on Derivatives and Unrealized Gain on Derivatives
The following table presents the components of realized gain on derivatives and unrealized gain on derivatives reflected on the accompanying condensed consolidated statements of operations and cash flows for the periods presented:

 
  
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
  
 
  
2025
    
2024
    
2025
    
2024
  
 
  
(In thousands)
  
Cash received (paid) for derivative settlements, net:
                        
Crude oil
  
$
2,968
    
$
—
    
$
6,599
    
$
—
  
Natural gas
    
5,345
      
—
      
6,307
      
—
  
NGLs
    
(301
)
    
—
      
(731
)
    
—
  
Total cash received for derivative settlements, net:
  
$
8,012
    
$
—
    
$
12,175
    
$
—
  
Non-cash (loss) gain on derivatives:
                                
Crude oil
  
$
(2,345
)
  
$
—
    
$
21,061
    
$
—
  
Natural gas
    
2,408
      
—
      
4,592
      
—
  
NGLs
    
899
      
—
      
(1,601
)
    
—
  
Total non-cash gain on derivatives
    
962
      
—
      
24,052
      
—
  
Total gain on derivatives, net
  
$
8,974
    
$
—
    
$
36,227
    
$
—