Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,192	$ 13,037
Oil, natural gas, and NGL revenue	3,024
Joint interest and other	9,275
Note receivable	494
Prepaid expenses and other current assets	317	171
Current assets – discontinued operations		323
Total current assets	18,302	13,531
Property and equipment:
Oil and natural gas properties, successful efforts method of accounting including $70,462 and $28,705 excluded from amortization as of December 31, 2024 and 2023, respectively	134,953	28,705
Other	94
Less: Accumulated depreciation, depletion, and amortization	(427)
Total property and equipment, net	134,620	28,705
Deposits on oil and natural gas property purchases	382
Operating lease assets	1,323	155
Note receivable – non–current	168
Deferred transaction costs		109
Other non–current assets	1,759
Non–current assets – discontinued operations		3,182
Total assets	156,554	45,682
Current liabilities:
Accounts payable and accrued expenses	38,225	5,374
Ad valorem and production taxes payable	7,094
Oil, natural gas, and NGL revenue payable	2,366
Senior convertible note, at fair value	12,555
Derivative liabilities	2,446
Operating lease liabilities	323	42
Total current liabilities	63,009	5,416
Long–term liabilities:
Credit facility	28,000
Subordinated note warrants, at fair value – related party	4,159
SEPA, at fair value	790
Derivative liabilities	1,949
Asset retirement obligation	227
Operating lease liabilities	1,043	94
Total long–term liabilities	40,777	94
Total liabilities	103,786	5,510
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock; $0.01 par value; 500,000,000 shares authorized, and 23,045,209 and 9,826,719 shares issued and outstanding as of December 31, 2024 and 2023, respectively	230	98
Additional paid–in capital	172,304	118,928
Accumulated deficit	(119,766)	(78,854)
Total stockholders’ equity	52,768	40,172
Total liabilities and stockholders’ equity	156,554	45,682
Series D Preferred Stock [Member]
Stockholders’ equity:
Preferred stock value
Series E Preferred Stock [Member]
Stockholders’ equity:
Preferred stock value
Related Party [Member]
Long–term liabilities:
Subordinated note, at fair value – related party	$ 4,609