Acquisitions (Tables) - ILX and Castex

12 Months Ended

Dec. 31, 2022

Business Acquisition [Line Items]

Summary of Revenue and Net Income Attributable to Assets Acquired

The following table presents revenue and net income attributable to the assets acquired in the ILX and Castex Acquisition:

	Year Ended December 31, 2020
Revenue	$	126,857
Net loss	$	(6,011	)

Supplemental Proforma Information

The following supplemental pro forma financial information (in thousands, except per common share amounts), presents the consolidated results of operations for the year ended December 31, 2020 as if the ILX and Castex Acquisition had occurred on January 1, 2019. The unaudited pro forma information was derived from historical statements of operations of the Company and the Sellers adjusted to (i) include depletion expense applied to the adjusted basis of the oil and natural gas properties acquired, (ii) include interest expense to reflect borrowings under the Bank Credit Facility, (iii) eliminate the write-down of oil and natural gas properties on the assets acquired to reflect the pro-forma ceiling test calculation and (iv) include weighted average basic and diluted shares of common stock outstanding, which was calculated assuming the 11.0 million shares of Conversion Stock were issued to the Sellers. This information does not purport to be indicative of results of operations that would have occurred had the ILX and Castex Acquisition occurred on January 1, 2019, nor is such information indicative of any expected future results of operations.

	Year Ended December 31, 2020
Revenue	$	634,921
Net loss	$	(449,988	)
Basic net loss per common share	$	(6.48	)
Diluted net loss per common share	$	(6.48	)