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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 54,430 $ 57,529
Accounts receivable, net 24,894 23,021
Assets from derivative contracts 5,869 8,992
Restricted cash 91 90
Prepaids and other 821 907
Total current assets 86,105 90,539
Oil and natural gas properties (full cost method):    
Evaluated 791,908 755,482
Unevaluated 51,896 58,909
Gross oil and natural gas properties 843,804 814,391
Less: accumulated depletion (471,413) (445,975)
Net oil and natural gas properties 372,391 368,416
Other operating property and equipment:    
Other operating property and equipment 4,657 4,640
Less: accumulated depreciation (2,141) (1,817)
Net other operating property and equipment 2,516 2,823
Other noncurrent assets:    
Assets from derivative contracts 4,614 4,877
Operating lease right of use assets 749 1,027
Other assets 20,916 17,656
Total assets 487,291 485,338
Current liabilities:    
Accounts payable and accrued liabilities 76,456 66,525
Liabilities from derivative contracts 25,554 17,191
Current portion of long-term debt 52,606 50,106
Operating lease liabilities 634 594
Total current liabilities 155,250 134,416
Long-term debt, net 101,185 140,276
Other noncurrent liabilities:    
Liabilities from derivative contracts 19,635 16,058
Asset retirement obligations 18,135 17,458
Operating lease liabilities 162 490
Other 10,719 2,084
Commitments and contingencies (Note 8)
Temporary equity:    
Redeemable convertible preferred stock: 138,000 shares and 98,000 shares of $0.0001 par value authorized, issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 159,535 106,535
Stockholders' equity:    
Common stock: 100,000,000 shares of $0.0001 par value authorized; 16,456,563 shares issued and outstanding as of June 30, 2024 and December 31, 2023 2 2
Additional paid-in capital 306,969 321,012
Accumulated deficit (284,301) (252,993)
Total stockholders' equity 22,670 68,021
Total liabilities, temporary equity and stockholders' equity $ 487,291 $ 485,338