Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 6 - Commitments and Contingencies

Commitments

Other than those items discussed below, there have been no changes in commitments through the filing of this report that differ materially from those disclosed in the 2024 Form 10-K.

Railcar Leases. During the three months ended March 31, 2025, the Company entered into new railcar leases and amended certain of its existing railcar leases. New commitments related to these leases totaled $41.3 million with terms extending into 2029.

Fracturing Services Contract. Subsequent to March 31, 2025, the Company entered into a fracturing services contract with a minimum commitment of $49.9 million with terms extending through March 31, 2026. As of the filing of this report, if the Company terminated the contract, it would be subject to liquidated damages of up to $45.6 million; however, the Company expects to meet its obligation under this contract.

Contingencies

The Company is subject to litigation and claims arising in the ordinary course of business. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. As of the filing of this report, in the opinion of management, the anticipated results of any pending litigation and claims are not expected to have a material effect on the results of operations, the financial position, or the cash flows of the Company.