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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 2,519 $ 2,519
Accrued revenue and accounts receivable 80,025 71,093
Commodity derivative assets, net 2,111 1,824
Prepaid expenses and other current assets 8,731 3,108
TOTAL CURRENT ASSETS 93,386 78,544
PROPERTY AND EQUIPMENT    
Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $1,015,395 and $973,028 at June 30, 2025 and December 31, 2024, respectively 3,153,976 3,105,457
Accumulated depletion and impairment (1,989,690) (1,973,460)
Oil and natural gas properties, net 1,164,286 1,131,997
Other property and equipment, net of accumulated depreciation of $15,238 and $14,551 at June 30, 2025 and December 31, 2024, respectively 1,508 2,044
NET PROPERTY AND EQUIPMENT 1,165,794 1,134,041
DEFERRED CHARGES AND OTHER LONG-TERM ASSETS 8,709 6,321
TOTAL ASSETS 1,267,889 1,218,906
CURRENT LIABILITIES    
Accounts payable 6,877 5,946
Accrued liabilities 12,504 17,242
Commodity derivative liabilities, net 7,072 3,852
Other current liabilities 2,528 3,383
TOTAL CURRENT LIABILITIES 28,981 30,423
LONG–TERM LIABILITIES    
Credit facility 99,000 25,000
Accrued incentive compensation 788 1,234
Commodity derivative liabilities, net 11,766 11,581
Asset retirement obligations 19,728 19,286
Other long-term liabilities 5,010 1,943
TOTAL LIABILITIES 165,273 89,467
COMMITMENTS AND CONTINGENCIES (Note 7)
EQUITY    
Partners' equity – general partner interest 0 0
TOTAL EQUITY 802,138 828,961
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,267,889 1,218,906
Series B Cumulative Convertible Preferred Units    
MEZZANINE EQUITY    
Partners' equity – Series B cumulative convertible preferred units, 14,711 units outstanding at June 30, 2025 and December 31, 2024 300,478 300,478
Common units    
EQUITY    
Partners' equity – common units, 211,842 and 210,695 units outstanding at June 30, 2025 and December 31, 2024, respectively $ 802,138 $ 828,961