Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Crude Oil and Natural Gas Derivative Contracts in Place

As of December 31, 2024, the Company had the following outstanding crude oil and natural gas derivative contracts in place, which settle monthly and are indexed to NYMEX West Texas Intermediate and NYMEX Henry Hub, respectively:

	Settling January 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)		938,040		496,884		223,599		169,839
Weighted average price ($/Bbl)	$	67.30	$	64.40	$	62.70	$	61.81
Natural Gas Swaps:
Notional volume (MMBtus)		1,309,098		885,147		626,832		457,368
Weighted average price ($/MMBtu)	$	3.33	$	3.73	$	3.69	$	3.49

Schedule of Derivative Instruments Consolidated Balance Sheets

The following table presents the net fair values of the Company’s derivative instruments, recorded on the consolidated balance sheet for the period presented:

	December 31, 2024
	(In thousands)
Current liabilities	$	2,446
Long-term liabilities		1,949
Total derivatives liabilities	$	4,395

Schedule of Derivative Instruments

	Year Ended
	December 31, 2024
	(In thousands)
Change in fair value of derivatives, net
Crude oil	$	3,763
Natural gas		632
Total		4,395
Loss on derivatives, net	$	4,395

The Company did not have any outstanding derivatives contracts or any derivative settlements during the year ended December 31, 2023.