Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents selected financial information with respect to the Company’s single operating segment (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Revenues
Oil	$	22,415	$	16,871	$	58,251	$	47,202
Natural gas	8,517		4,349		29,938		13,302
NGL	8,890		8,837		28,768		25,813
Total revenues	39,822		30,057		116,957		86,317
Expenses
Lease operating expenses	10,911		9,104		28,384		28,734
Production, ad valorem, and other taxes	2,155		1,813		7,412		5,550
Depreciation and depletion—oil and natural gas	9,400		8,345		26,106		16,771
Depreciation and amortization—other	1,638		1,605		4,853		4,947
General and administrative	2,737		2,304		9,618		8,686
Restructuring expenses	305		260		757		341
(Gain) loss on derivative contracts	(2,364)		(1,866)		(5,936)		(1,866)
Other operating (income) expense	—		—		—		24
Total expenses	24,782		21,565		71,194		63,187
Income (loss) from operations	15,040		8,492		45,763		23,130
Other income (expense)
Interest income (expense), net	916		1,553		2,803		6,742
Other income (expense), net	(3)		—		(6)		92
Total other income (expense)	913		1,553		2,797		6,834
Income (loss) before income taxes	15,953		10,045		48,560		29,964
Income tax (benefit)	—		(15,439)		—		(15,439)
Net income (loss)	$	15,953	$	25,484	$	48,560	$	45,403