Asset Retirement Obligation

3 Months Ended

Mar. 31, 2025

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

Note 8 – Asset Retirement Obligation

The following table presents the changes in the Company’s asset retirement obligations for the periods presented:

	March 31, 2025		December 31, 2024
	(In thousands)
Asset retirement obligation, at the beginning of the period	$	227	$	—
Liabilities assumed in acquisitions		2,328		221
Liabilities incurred through development activities		46		—
Accretion of asset retirement obligation		6		6
Asset retirement obligation, at the end of the period	$	2,607	$	227

As of March 31, 2025, the asset retirement obligations liabilities assumed in acquisitions fully relate to the Bayswater Acquisition. Refer to Note 3 – Acquisitions for a discussion of the Bayswater Acquisition. As of March 31, 2025, the asset retirement obligations liabilities incurred through development activities fully relate to the Shelduck wells, which came online in February 2025.