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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
Note 2 - Revenue from Contracts with Customers
The Company recognizes its share of revenue from the sale of produced oil, gas, and NGLs from its Midland Basin, South Texas, and Uinta Basin assets. Oil, gas, and NGL production revenue presented within the accompanying unaudited condensed consolidated statements of operations (“accompanying statements of operations”) reflects revenue generated from contracts with customers.
The tables below present oil, gas, and NGL production revenue by product type for each of the Company’s operating areas. Amounts below for the Uinta Basin reflect activity for the three and six months ended June 30, 2025. There is no comparable activity for the three and six months ended June 30, 2024, because the Uinta Basin assets were acquired on October 1, 2024.
Midland BasinSouth Texas
Uinta Basin
Total
Three Months Ended
June 30,		Three Months Ended
June 30,		Three Months Ended
June 30,		Three Months Ended
June 30,
20252024202520242025202420252024
(in thousands)
Oil production revenue$314,535$378,830$113,480$153,724$225,363$—$653,378$532,554
Gas production revenue27,21522,83344,48122,3526,298—77,99445,185
NGL production revenue10913453,52155,57874—53,70455,712
Total$341,859$401,797$211,482$231,654$231,735$—$785,076$633,451
Relative percentage43 %63 %27 %37 %30 %— %100 %100 %
Midland BasinSouth Texas
Uinta Basin
Total
Six Months Ended
June 30,		Six Months Ended
June 30,		Six Months Ended
June 30,		Six Months Ended
June 30,
20252024202520242025202420252024
(in thousands)
Oil production revenue$650,962$711,021$230,894$262,427$429,993$—$1,311,849$973,448
Gas production revenue83,42863,37198,90049,65815,760—198,088113,029
NGL production revenue262218114,423106,35274—114,759106,570
Total$734,652$774,610$444,217$418,437$445,827$—$1,624,696$1,193,047
Relative percentage45 %65 %27 %35 %28 %— %100 %100 %
The Company recognizes oil, gas, and NGL production revenue at the point in time when custody and title (“control”) of the product transfers to the purchaser, which may differ depending on the applicable contractual terms. Transfer of control determines the presentation of transportation, gathering, processing, and other post-production expenses (“costs and other deductions”) within the accompanying statements of operations. Costs and other deductions incurred by the Company prior to transfer of control are recorded within the oil, gas, and NGL production expense line item on the accompanying statements of operations. When control is transferred, sales are based on a market price that may be affected by costs and other deductions incurred by the purchaser subsequent to the transfer of control.
Revenue is recorded in the month when performance obligations are satisfied. However, settlement statements from the purchasers of hydrocarbons and the related cash consideration are received 30 to 90 days after production has occurred. As a result, the Company must estimate the amount of production delivered to the customer and the consideration that will ultimately be received for sale of the product. Estimated revenue due to the Company is recorded within the accounts receivable line item on the accompanying unaudited condensed consolidated balance sheets (“accompanying balance sheets”) until payment is received. The accounts receivable balances from contracts with customers within the accompanying balance sheets as of June 30, 2025, and December 31, 2024, were $234.9 million and $246.4 million, respectively. To estimate accounts receivable from contracts with customers, the Company uses knowledge of its properties, historical performance, contractual arrangements, index pricing, quality and transportation differentials, and other factors as the basis for these estimates. Differences between estimates and actual amounts received for product sales are recorded in the month that payment is received from the purchaser. The time period between production and satisfaction of performance obligations is generally less than one day for volumes sold at, or in close proximity, to the wellhead or to the inlet or tailgate of the midstream processing facility, and is generally less than two weeks for volumes transported by rail. As of June 30, 2025, there were no material unsatisfied or partially unsatisfied performance obligations.