Quarterly report [Sections 13 or 15(d)]

FINANCIAL INSTRUMENTS (Tables)

v3.26.1
FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2026
FINANCIAL INSTRUMENTS  
Schedule of Contracted Volumes and Weighted Average Prices of Open Derivative Contracts

The following table reflects the contracted volumes and weighted average prices under the terms of the Company’s open costless collar contracts as of March 31, 2026:

Average

Instrument

Daily

  ​ ​ ​

Total

  ​ ​ ​

Weighted

  ​ ​ ​

Weighted

  ​ ​ ​

Weighted

Period

  ​ ​ ​

Type

  ​ ​ ​

Volumes

Volumes

Strike Price

Floor Price

Ceiling Price

Oil (WTI)

(Bbls) (1)

(Bbls)

($/Bbls)

($/Bbls)

($/Bbls)

Apr 2026 - Dec 2026

collars

4,000

1,100,000

$

$

56.18

$

69.40

Apr 2026 - Dec 2026

swaps

2,000

550,000

64.53

(1)

Bbls – barrels of oil

Schedule of derivatives instruments statements of financial performance and financial position, location

The fair value of the Company’s derivative financial instruments was recorded in the Condensed Consolidated Balance Sheets as follows (in thousands):

  ​ ​ ​

March 31, 

December 31, 

2026

2025

Prepaid expenses and other current assets

$

1,310

$

318

Accrued liabilities

 

25,823

 

The impact of commodity derivative contracts on the Condensed Consolidated Statements of Operations was as follows (in thousands):

Three Months Ended March 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Realized loss

$

2,678

$

3,639

Unrealized loss (gain)

21,835

(882)

Derivative loss, net

$

24,513

$

2,757

Schedule of net values and estimated fair values of the Company's debt

The following table presents the net values and estimated fair values of the Company’s debt (in thousands):

  ​ ​ ​

March 31, 2026

  ​ ​ ​

December 31, 2025

Net Value

  ​ ​ ​

Fair Value

  ​ ​ ​

Net Value

  ​ ​ ​

Fair Value

10.75% Notes

$

342,879

$

357,833

$

342,355

$

320,208

TVPX Loan

8,309

8,411

8,458

8,613

Total

$

351,188

$

366,244

$

350,813

$

328,821