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Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 18 – Subsequent Events

 

Hedging Program

 

Following the closing of the Bayswater Acquisition, the Company executed a portfolio of hedges covering approximately 85% of its current daily production, inclusive of volumes from the Bayswater Acquisition assets. These hedges secured prices of $68.27 per barrel and $4.28 per MMBtu through the rest of 2025 and $64.29 per barrel and $4.09 per MMBtu in 2026 through the first quarter of 2028.

 

Additional Working Interest Acquisition

 

As discussed above, at the close of the Bayswater Acquisition, the Company deposited $15.0 million into escrow for the Additional Working Interest Acquisition, which is not included in the preliminary purchase price allocation above. The Additional Working Interest Acquisition was completed on April 11, 2025 and the Company will adjust the preliminary allocation of the Bayswater Purchase Price accordingly in the second quarter of 2025.