FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis were as follows:

	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
December 31, 2024:
Equity securities	$	23,135	$	—	$	—	$	23,135
Commodity derivative instruments	—		2,114		—		2,114
Total	$	23,135	$	2,114	$	—	$	25,249
December 31, 2023:
Equity securities	$	63,068	$	—	$	—	$	63,068
Commodity derivative instruments	—		2,723		—		2,723
Total	$	63,068	$	2,723	$	—	$	65,791

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of the changes in the estimated fair value of the Company’s Level 3 liabilities, which were measured at fair value on a recurring basis. There are no Level 3 liabilities as of December 31, 2024. The changes in the estimated fair value of the Company’s Level 3 liabilities as of December 31, 2023 were as follows:

	Series A Embedded Derivative Liabilities		Series B Warrant Liabilities		Total
	(In thousands)
Balance at December 31, 2022	$	16,835	$	84,780	$	101,615
Exercise of warrants	—		(82,018)		(82,018)
Conversion of redeemable convertible preferred stock	(12,881)		—		(12,881)
Remeasurement to fair value	(3,954)		(2,762)		(6,716)
Balance at December 31, 2023	—		—		—