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OIL AND NATURAL GAS PROPERTIES, NET
 12 Months Ended
Dec. 31, 2024
Extractive Industries [Abstract]  
OIL AND NATURAL GAS PROPERTIES, NET OIL AND NATURAL GAS PROPERTIES, NET
Benchmark’s oil and natural gas properties consisted of the following:
December 31,
20242023
(In thousands)
Proved oil and gas properties$199,559 $25,276 
Unproved oil and gas properties4,786 — 
Accumulated depletion and depreciation(12,665)(159)
Oil and natural gas properties, net$191,680 $25,117 
Total depletion and depreciation expense in the consolidated statements of operations and comprehensive income (loss) was $12.5 million for the year ended December 31, 2024 and $245,000 for the period from November 13, 2023 through December 31, 2023. Our Energy Operations includes depletion and depreciation in cost of production.