Information about Oil and Gas Producing Activities (Tables)

12 Months Ended

Dec. 31, 2024

Information About Oil And Gas Producing Activities

Schedule of capitalized costs relating to oil and gas producing activities

	December 31,
	2024			2023
	(in thousands)
Proved properties	$	32,203		$	31,728
Accumulated depletion and amortization		(29,321	)		(27,837	)
Oil and gas properties, net	$	2,882		$	3,891

Schedule of costs incurred in oil and gas property acquisition, exploration, and development

	Year ended December 31,
	2024		2023
	(in thousands)
Development costs	$	581	$	320
	$	581	$	320

Schedule of reserve quantity information

	December 31, 2024									December 31, 2023
		United States
		Oil (MBBL)		NGL (MBBL)		Gas (MMCF)		Total (MBOE) (a)			Oil (MBBL)		NGL (MBBL)		Gas (MMCF)		Total (MBOE) (a)
Proved developed and undeveloped reserves:
Beginning of year		150.9		17.7		87.5		183.2			218.2		18.9		113.0		255.9
Revisions of previous estimates (b)		23.7		0.4		21.9		27.7			0.3		7.9		22.4		12.0
Production		(45.2	)	(5.3	)	(32.7	)	(56.0	)		(67.6	)	(9.1	)	(47.9	)	(84.7	)
End of year		129.4		12.8		76.7		154.9			150.9		17.7		87.5		183.2
Proved developed reserves:
Beginning of year		101.5		12.7		62.9		124.7			143.3		13.8		82.7		170.9
End of year		59.4		7.1		42.5		73.5			101.5		12.7		62.9		124.7
Proved undeveloped reserves:
Beginning of year		49.4		5.0		24.6		58.5			74.9		5.1		30.3		85.0
End of year		70.0		5.7		34.2		81.4			49.4		5.0		24.6		58.5

(a) BOE refers to barrel of oil equivalent. Barrel of oil equivalent is based on six MCF of natural gas to one barrel of oil or one barrel of NGL, which reflects an energy content equivalency and not a price or revenue equivalency.

(b) Revisions of previous estimates were attributable to well performance. In addition, effective January 1, 2023, the fixed percentage overriding royalty interest of 8.16% in the Fund’s net revenue interest in the Beta Project’s oil and natural gas production became payable to the Fund’s former lender, which was conveyed pursuant to the Fund’s credit agreement applicable to the project. The effect of this conveyance in the reserves was included within revisions of previous estimates.

Schedule of standardized measure of discounted future net cash flows relating to proved oil and gas reserves

	December 31,
	2024			2023
	(in thousands)
Future cash inflows	$	9,724		$	11,480
Future production costs		(1,616	)		(2,680	)
Future development costs		(4,965	)		(3,525	)
Future net cash flows		3,143			5,275
10% annual discount for estimated timing of cash flows		197			(153	)
Standardized measure of discounted future net cash flows	$	3,340		$	5,122

Schedule of changes in the standardized measure for discounted cash flows

	Year ended December 31,
	2024			2023
	(in thousands)
Net change in sales and transfer prices and in production costs related to future production	$	884		$	(2,989	)
Sales and transfers of oil and gas produced during the period		(3,072	)		(4,733	)
Changes in estimated future development costs		(1,440	)		697
Net change due to revisions in quantities estimates		1,509			560
Accretion of discount		512			1,054
Other		(175	)		(11	)
Aggregate change in the standardized measure of discounted future net cash flows for the year	$	(1,782	)	$	(5,422	)