ACQUISITIONS AND DIVESTITURE (Tables)

12 Months Ended

Dec. 31, 2025

Asset Acquisition [Abstract]

Schedule of Assets Reported as Held for Sale in the Consolidated Balance Sheet

The following table sets forth the carrying value of the assets and liabilities held for sale:

	Balance Sheet Classification	December 31, 2025
		(in thousands)
Current assets (Derivative assets, current)	Current assets held for sale	$	179
Crude oil, natural gas and NGLs properties and equipment, net	Noncurrent assets held for sale	31,826
Current liabilities (Asset retirement obligation, current)	Current liabilities held for sale	(183)
Asset retirement obligations	Noncurrent liabilities held for sale	(7,403)
Net assets held for sale		$	24,419

Business Combination, Recognized Asset Acquired and Liability Assumed

The following tables summarize the cash paid for the purchase price and the final purchase price allocation of the acquisition consideration.

	April 30, 2024		Measurement Period Adjustment		April 30, 2024 (As Adjusted)
	(in thousands)
Purchase Consideration
Cash	$	40,166	$	—	$	40,166
Total purchase consideration	$	40,166	$	—	$	40,166
	April 30, 2024		Measurement Period Adjustment		April 30, 2024 (As Adjusted)
	(in thousands)
Assets acquired:
Cash and cash equivalents	$	31,789	$	466	$	32,255
Other receivables, net	830		—		830
Crude oil inventory	14,981		—		14,981
Prepayments and other	409		—		409
Crude oil, natural gas and NGLs properties and equipment, net	100,188		6,901		107,089
Restricted cash	8,788		—		8,788
Other LT receivables	33		—		33
Deferred tax asset	28,153		(12,095)		16,058
Total assets acquired	185,171		(4,728)		180,443
Liabilities assumed:
Accounts payable	(2,506)		—		(2,506)
State oil liability	(19,447)		—		(19,447)
Accrued tax settlement	(8,788)		—		(8,788)
Accrued accounts payable invoices	(21,692)		—		(21,692)
Accrued liabilities and other	(19,083)		(301)		(19,384)
Asset retirement obligations	(15,694)		(11,617)		(27,311)
Deferred tax liability	(37,897)		10,280		(27,617)
Total liabilities acquired	(125,107)		(1,638)		(126,745)
Bargain purchase gain	(19,898)		6,366		(13,532)
Total purchase price	$	40,166	$	—	$	40,166

Schedule of Post Acquisition Operating Results

The table below summarizes amounts contributed by the Cote d’Ivoire assets acquired in the Svenska Acquisition to the Company's consolidated results for the period from April 30, 2024 through December 31, 2024.

	April 30, 2024 through December 31, 2024
	(in thousands)
Crude oil, natural gas and natural gas liquids sales	$	95,082
Net income	12,143

The unaudited pro forma results do not purport to represent what the Company’s

actual results of operations would have been if the Svenska Acquisition had been completed on such date or to project the Company’s results of operations for any future date or period.

	Year Ended December 31,
	2024		2023
	(in thousands)
Pro forma (unaudited)
Crude oil, natural gas and natural gas liquids sales	$	510,513	$	632,514
Operating income	$	120,681	243,228
Net income(a)(b)	$	38,336	95,740
Basic net income per share:
Net income	$	38,336	$	95,740
Net income per share	$	0.37	$	0.90
Basic weighted average shares outstanding	103,669		106,376
Diluted net income per share:
Net income	$	38,336	$	95,740
Net income per share	$	0.37	$	0.90
Diluted weighted average shares outstanding	103,747		106,555

(a)The unaudited pro forma net income (loss) for the year ended December 31, 2024 excludes a nonrecurring pro forma adjustment directly attributable to the Svenska Acquisition, consisting of a bargain purchase gain of $13.5 million.

(b) The unaudited pro forma net income (loss) for the year ended December 31, 2023 excludes a nonrecurring pro forma adjustment attributable to the TransGlobe Acquisition, consisting of a bargain purchase gain adjustment of $1.4 million.