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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net loss from continuing operations $ (2,617) $ (7,993)  
Adjustment to reconcile net loss to net cash provided by (used in) operating activities:      
Stock–based compensation 1,324 2,067  
Depreciation, depletion, and amortization 2,117  
Unrealized loss on derivatives, net 117  
Cash paid for derivative settlements, net 781  
Loss on adjustment to fair value – embedded derivatives, debt, and warrants 2,164  
Amortization and expensing of deferred financing costs 270  
Accretion of asset retirement obligation 6  
Changes in operating assets and liabilities:      
Accounts receivable (4,614)  
Prepaid expenses and other current assets (195) (11)  
Inventory (1,276)  
Accounts payable and accrued expenses 20,713 2,093  
Ad valorem and production taxes payable (2,702)  
Oil, natural gas, and NGL revenue payable 801  
Other assets and liabilities 43 60  
Net cash provided by (used in) continuing operating activities 16,932 (3,784)  
Net cash provided by discontinued operations 460  
Net cash provided by (used in) operating activities 16,932 (3,324)  
Cash flows from investing activities:      
Cash paid for Bayswater asset purchase (474,581)  
Deposit on other oil and natural gas properties (15,000)  
Deposit for Nickel Road asset purchase (9,000)  
Transaction expenses paid related to Nickel Road asset purchase (78)  
Development of oil and natural gas properties (38,999) (2,049)  
Cash received from payment on note receivable related to sale of cryptocurrency miners 149  
Cash received from sale of cryptocurrency miners 1,000  
Net cash used in investing activities (528,431) (10,127)  
Cash flows from financing activities:      
Proceeds from the issuance of Common Stock 43,817  
Financing costs associated with issuance of Common Stock (3,077)  
Proceeds from the issuance of Series F Preferred Stock 148,250  
Financing costs associated with the issuance of Series F Preferred Stock (1,233)  
Borrowings on the Credit Facility 349,000  
Debt issuance costs associated with the Credit Facility (12,511)  
Payments of the Subordinated Note – related party (3,214)  
Proceeds from option exercise 583  
Treasury stock repurchased (336)  
Proceeds from the exercise of Series D and E Preferred Stock warrants 4,462  
Net cash provided by financing activities 521,279 4,462  
Net increase (decrease) in cash and cash equivalents 9,780 (8,989)  
Cash and cash equivalents, beginning of the year 5,192 13,037 $ 13,037
Cash and cash equivalents, end of the year $ 14,972 $ 4,048 $ 5,192