Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 150,683 $ 140,558
Restricted cash   62
Accounts receivable:    
Oil, natural gas liquids and natural gas sales 67,094 59,633
Joint interest, net of allowance for credit losses of $10,629 and $10,529, respectively 25,581 24,473
Prepaid expenses and other current assets 19,433 14,543
Total current assets 262,791 239,269
Oil and natural gas properties and other, net of accumulated depreciation, depletion and amortization of $8,526,024 and $8,473,181, respectively 641,718 662,082
Restricted deposits for asset retirement obligations 24,122 24,026
Deferred income taxes 88 35
Other assets 30,795 30,395
Total assets 959,514 955,807
Current liabilities:    
Accounts payable 88,750 98,406
Accrued liabilities 37,540 39,809
Undistributed oil and natural gas proceeds 63,269 59,065
Advances from joint interest partners 2,267 2,394
Current portion of asset retirement obligations 24,411 26,147
Current portion of long-term debt, net 8,158 8,458
Total current liabilities 224,395 234,279
Asset retirement obligations 548,824 535,704
Long-term debt, net 343,418 342,355
Other liabilities 14,529 15,781
Commitments and contingencies 24,549 27,440
Shareholders' deficit:    
Preferred stock: $0.00001 par value; 20,000 shares authorized; no shares issued
Common stock: $0.00001 par value; 400,000 shares authorized; 153,785 shares and 151,647 shares issued, respectively 2 2
Additional paid-in capital 621,460 604,732
Retained deficit (793,496) (780,319)
Treasury stock: 2,869 shares, at cost (24,167) (24,167)
Total shareholders' deficit (196,201) (199,752)
Total liabilities and shareholders' deficit $ 959,514 $ 955,807