Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

As of March 31, 2025, 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 April 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)		714,342		496,884		223,599		169,839
Weighted average price ($/Bbl)	$	66.89	$	64.40	$	62.70	$	61.81
Natural Gas Swaps:
Notional volume (MMBtus)		1,026,999		885,147		626,832		457,368
Weighted average price ($/MMBtu)	$	3.46	$	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:

	March 31, 2025		December 31, 2024
	(In thousands)
Current liabilities	$	3,071	$	2,446
Long-term liabilities		1,441		1,949
Total derivatives liabilities	$	4,512	$	4,395

Schedule of Derivative Instruments

	Three Months Ended March 31,
	2025			2024
	(In thousands)
Cash paid for derivative settlements, net:
Crude oil	$	(519	)	$	—
Natural gas		(262	)		—
Total cash paid for derivative settlements, net:		(781	)		—
Non-cash gain (loss) on derivatives:
Crude oil		1,074			—
Natural gas		(1,191	)		—
Total non-cash loss on derivatives		(117	)		—
Loss on derivatives, net	$	(898	)	$	—