Quarterly report [Sections 13 or 15(d)]

FINANCIAL INSTRUMENTS (Tables)

v3.26.1
FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 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 oil derivative contracts as of June 30, 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)

July 2026 - Dec 2026

collars

4,000

736,000

$

$

56.18

$

69.40

July 2026 - Dec 2026

swap

2,000

368,000

64.53

July 2026 - April 2027

call

10,000

3,040,000

122.50

(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):

  ​ ​ ​

June 30, 

December 31, 

2026

2025

Prepaid expenses and other current assets

$

1,477

$

318

Accrued liabilities

 

6,760

 

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

Three Months Ended June 30, 

Six Months Ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Realized loss (gain)

$

13,691

$

(9,493)

$

16,369

$

(5,854)

Unrealized (gain) loss

(11,774)

(2,554)

10,061

(3,436)

Derivative loss (gain), net

$

1,917

$

(12,047)

$

26,430

$

(9,290)

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):

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Net Value

  ​ ​ ​

Fair Value

  ​ ​ ​

Net Value

  ​ ​ ​

Fair Value

10.75% Notes

$

343,418

$

357,420

$

342,355

$

320,208

TVPX Loan

8,158

8,211

8,458

8,613

Total

$

351,576

$

365,631

$

350,813

$

328,821