Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instrument Detail [Abstract]

Schedule of Oil and Gas Contracts

The Company’s oil swap contracts as of December 31, 2024 are summarized below:

	Oil (NYMEX WTI)
Remaining Term	Bbl per Day	Weighted Average Price per Bbl
January 2025 - June 2025	1,100	$	74.65

The Company’s oil and gas two-way commodity collar contracts as of December 31, 2024 are summarized below:

	Oil (NYMEX WTI)
Remaining Term	Bbl per Day	Weighted Average Floor Price per Bbl		Weighted Average Ceiling Price per Bbl
January 2025 - June 2025	2,000	$	60.00	$	93.20

	Gas (NYMEX Henry Hub)
Remaining Term	MMBtu per Day	Weighted Average Floor Price per MMBtu		Weighted Average Ceiling Price per MMBtu
January 2025 - June 2025	11,600	$	3.31	$	10.34

Schedule of Derivative Instruments

The following table presents a summary of the Company’s derivative instruments and where such values are recorded on the consolidated balance sheets as of December 31, 2024 and 2023 (in thousands):

		December 31, 2024		December 31, 2023
	Balance sheet location	Fair value		Fair value
Asset derivatives not designated as hedges for accounting purposes:
Commodity contracts	Current assets	$	1,811	$	19,080
Commodity contracts	Long-term assets	—		3,440
Total asset derivatives		$	1,811	$	22,520
Liability derivatives not designated as hedges for accounting purposes:
Commodity contracts	Current liabilities	$	—	$	—
Commodity contracts	Long-term liabilities	—		—
Total liability derivatives		$	—	$	—
Net derivatives		$	1,811	$	22,520

Schedule of Gross Fair Values of Recognized Derivative Assets and Liabilities, Amounts Offset Under Master Netting Arrangements With Counterparties and Resulting Net Amounts

The following table presents the gross fair values of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties, and the resulting net amounts presented on the consolidated balance sheets (in thousands):

	December 31, 2024						December 31, 2023
	Gross Fair Value		Gross Amounts Offset		Net Fair Value		Gross Fair Value		Gross Amounts Offset		Net Fair Value
Commodity derivative assets	$	1,916	$	(105)	$	1,811	$	23,401	$	(881)	$	22,520
Commodity derivative liabilities	(105)		105		—		(881)		881		—

Schedule of Derivative Gains and Losses

The following table is a summary of derivative gains and losses, and where such values are recorded in the consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 (in thousands):

		Year Ended December 31,
	Statement of income location	2024		2023		2022
Commodity derivative gains (losses)	Other income (expense)	$	(4,905)	$	15,199	$	39,037
Interest rate derivative gains	Other income (expense)	$	—	$	462	$	110