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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 2,519 $ 70,282
Accounts receivable 71,093 82,253
Commodity derivative assets 1,824 38,273
Prepaid expenses and other current assets 3,108 2,319
TOTAL CURRENT ASSETS 78,544 193,127
PROPERTY AND EQUIPMENT    
Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $973,028 and $890,338 at December 31, 2024 and 2023, respectively 3,105,457 3,026,394
Accumulated depreciation, depletion, amortization, and impairment (1,973,460) (1,961,899)
Oil and natural gas properties, net 1,131,997 1,064,495
Other property and equipment, net of accumulated depreciation of $14,551 and $14,163 at December 31, 2024 and 2023, respectively 2,044 1,007
NET PROPERTY AND EQUIPMENT 1,134,041 1,065,502
DEFERRED CHARGES AND OTHER LONG-TERM ASSETS 6,321 8,255
TOTAL ASSETS 1,218,906 1,266,884
CURRENT LIABILITIES    
Accounts payable 5,946 6,270
Accrued liabilities 17,242 17,003
Commodity derivative liabilities 3,852 1,229
Other current liabilities 3,383 1,334
TOTAL CURRENT LIABILITIES 30,423 25,836
LONG-TERM LIABILITIES    
Credit facility 25,000 0
Accrued incentive compensation 1,234 1,699
Commodity derivative liabilities 11,581 81
Asset retirement obligations 19,286 19,030
Other long-term liabilities 1,943 2,893
TOTAL LIABILITIES 89,467 49,539
COMMITMENTS AND CONTINGENCIES (Note 11)
EQUITY    
Partners' equity — general partner interest 0 0
TOTAL EQUITY 828,961 918,208
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,218,906 1,266,884
Series B Cumulative Convertible Preferred Units    
MEZZANINE EQUITY    
Partners' equity — Series B cumulative convertible preferred units, 14,711 and 14,711 units outstanding at December 31, 2024 and 2023, respectively 300,478 299,137
Common Units    
EQUITY    
Partners' equity — common units, 210,695 and 209,991 units outstanding at December 31, 2024 and 2023, respectively $ 828,961 $ 918,208