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Schedule of Purchase Price Allocation (Details) - USD ($)
$ in Thousands
Mar. 26, 2025
Oct. 01, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]    
Cash consideration $ 467,520 [1] $ 49,270 [2]
Common stock issued to the sellers [3] 16,000  
Direct transaction costs 7,061 [4] 239 [5]
Total consideration 490,581 55,509
Oil and natural gas properties 509,954 [6] 63,591 [7]
Oil and natural gas properties 17,096  
Acquisition receivable [8] 37,806  
Total Assets acquired 564,856 63,695
Accounts payable and accrued expenses (71,947) [9] (7,965) [10]
Asset retirement obligation, long-term (2,328) (221)
Total Liabilities acquired $ (74,275) (8,186)
Deposits on oil and natural gas properties [11]   6,000
Prepaid expenses, third-party JIB receivable, and other   $ 104
[1] Includes customary purchase price adjustments.
[2] Includes the final settlement statement payment of $0.3 million from NRO to the Company.
[3] Represents approximately 3.7 million shares of Common Stock issued to Bayswater.
[4] Represents transaction costs associated with the Bayswater Acquisition, which have been capitalized in accordance with ASC 805.
[5] Represents transaction costs associated with the NRO Acquisition which have been capitalized in accordance with ASC 805.
[6] Includes the asset retirement obligation asset associated with the proved oil and natural gas properties.
[7] Includes the asset retirement obligation asset associated with the proved oil and natural gas properties.
[8] Represents February 1 through March 25, 2025 revenue, net of operating expenses, due to the Company from Bayswater at final settlement.
[9] Represents the amounts associated with the assets acquired in the Bayswater Acquisition unpaid at the closing date and primarily relates to ad valorem tax liabilities of $27.1 million and suspended revenues of $44.8 million.
[10] Represents the amounts associated with the assets acquired in the NRO Acquisition unpaid at the closing date and primarily relates to ad valorem tax liabilities of $6.6 million and suspended revenues of $1.2 million.
[11] Represents the Deposit paid by the Company to NRO.