Commitments and Contingencies

6 Months Ended

Jun. 30, 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 six months ended June 30, 2025, the Company entered into new railcar leases and amended certain of its existing railcar leases with terms extending into 2030, with a total remaining commitment of $80.5 million as of June 30, 2025.

Fracturing Services Contract. During the six months ended June 30, 2025, the Company entered into a fracturing services contract with a term through March 31, 2026. As of June 30, 2025, the minimum commitment remaining under this contract was $36.8 million. As of the filing of this report, if the Company terminated the contract, it would be subject to liquidated damages of up to $33.3 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.