Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2024

Acquisitions and Divestitures

Acquisitions and Divestitures

Note 4. Acquisitions and Divestitures

Acquisition and divestiture related expenses for third-party transactions are included in general and administrative expense in the accompanying statements of operations for the periods indicated below (in thousands):

For the Year Ended
December 31,
2024		2023
$	1,633	$	219

During the year ended December 31, 2024, the Company sold certain rights, title and interest in assets located in East Texas to a third party. The Company recorded a gain of approximately $1.4 million, as reflected in the (gain) loss on sale of properties in the Consolidated Statements of Operations.

Subsequent Events. On January 15, 2025, the Company announced that it entered into a definitive merger agreement with privately held Juniper Capital Advisors, L.P. (“Juniper”) to combine with certain Juniper portfolio companies that own substantial oil-weighted producing assets and significant leasehold interests in the Denver-Julesburg Basin and Powder River Basin. See Note 21 for additional information related to the Mergers (as defined below).

On January 15, 2025, the Company purchased and sold certain rights, title and interest in assets in East Texas from a third party, whereby the Company received net proceeds of $6.2 million.