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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income (loss) from continuing operations $ 1,287 $ (11,424) $ 34,353 $ (27,930)  
Adjustment to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Stock–based compensation     7,845 5,835  
Depreciation, depletion, and amortization     30,353 0  
Unrealized gain on derivatives (962) 0 (24,052) 0  
Loss on adjustment to fair value – embedded derivatives, debt, and warrants     30,451 0  
Non-cash SEPA commitment fee     0 600  
Loss on issuance of debt 0 3,039 0 3,039  
Amortization of deferred financing costs     3,902 0  
Accretion of asset retirement obligation     147 0  
Changes in operating assets and liabilities:          
Accounts receivable     (54,162) 0  
Prepaid expenses and other current assets     (1,703) (96)  
Inventory     (4,885) 0  
Accounts payable and accrued expenses     23,710 12,453  
Ad valorem and production taxes payable     8,627 0  
Oil, natural gas, and NGL revenue payable     12,902 0  
Other assets and liabilities     (104) (19)  
Net cash provided by (used in) continuing operating activities     67,384 (6,118)  
Net cash provided by discontinued operations     0 460  
Net cash provided by (used in) operating activities     67,384 (5,658)  
Cash flows from investing activities:          
Cash paid for Bayswater asset purchase     (467,461) 0  
Cash paid for other asset purchases     (12,709) 0  
Deposit for Nickel Road asset purchase     0 (9,000)  
Return of Nickel Road asset purchase deposit     0 3,000  
Transaction expenses paid related to Nickel Road asset purchase     0 (120)  
Deposit on other oil and natural gas properties purchase     0 (382)  
Development of oil and natural gas properties     (126,184) (8,732)  
Cash paid for leasehold property purchases     (3,015) 0  
Cash received from payment on note receivable related to sale of cryptocurrency miners     833 252  
Cash received from sale of cryptocurrency miners     0 1,000  
Net cash used in investing activities     (608,536) (13,982)  
Cash flows from financing activities:          
Proceeds from the issuance of Common Stock     43,817 15,000  
Financing costs associated with issuance of Common Stock     (3,603) (4,884)  
Proceeds from the issuance of Series F Preferred Stock     148,250 0  
Financing costs associated with the issuance of Series F Preferred Stock     (12,171) 0  
Borrowings on the Credit Facility     389,000 0  
Debt issuance costs associated with the Credit Facility     (15,670) 0  
Payments of the Subordinated Note – related party     (3,214) 0  
Proceeds from option exercise     633 0  
Repurchases of treasury stock     (442) 0  
Proceeds from the exercise of Series D and E Preferred Stock warrants     0 33,539  
Proceeds from the issuance of the Subordinated Promissory Note – related party     0 3,000  
Net cash provided by financing activities     546,600 46,655  
Net increase in cash and cash equivalents     5,448 27,015  
Cash and cash equivalents, beginning of the period     5,192 13,037 $ 13,037
Cash and cash equivalents, end of the period $ 10,640 $ 40,052 $ 10,640 $ 40,052 $ 5,192