Falcon Reverse Merger (Tables)

3 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

Schedule of Consideration for Falcon Merger

The following table summarizes the consideration for the Falcon Merger:

Falcon Common Stock — issued and outstanding as of June 7, 2022:		21,935,492
Class A Common Stock price on June 7, 2022	$	29.12
Total consideration and fair value	$	638,761,527

Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed (in thousands):

	June 7, 2022			Adjustments			December 31, 2022
Falcon fair values:
Cash	$	4,484		$	—		$	4,484
Accrued revenue and accounts receivable		12,054			6,696			18,750
Unproved oil and gas properties		495,803			(4,572	)		491,231
Proved oil and gas properties		200,773			—			200,773
Property and equipment		278			—			278
Current liabilities		(22,315	)		(1,106	)		(23,421	)
Long-term debt		(43,105	)		—			(43,105	)
Deferred tax liability		(2,598	)		(1,018	)		(3,616	)
Warrant liability		(6,612	)		—			(6,612	)
Total consideration and fair value	$	638,762		$	—		$	638,762