Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 191,317 $ 140,558
Restricted cash   62
Accounts receivable:    
Oil, natural gas liquids and natural gas sales 79,113 59,633
Joint interest, net of allowance for credit losses of $10,638 and $10,529, respectively 25,455 24,473
Prepaid expenses and other current assets 18,477 14,543
Total current assets 314,362 239,269
Oil and natural gas properties and other, net of accumulated depreciation, depletion and amortization of $8,554,290 and $8,473,181, respectively 621,476 662,082
Restricted deposits for asset retirement obligations 24,410 24,026
Deferred income taxes 96 35
Other assets 30,684 30,395
Total assets 991,028 955,807
Current liabilities:    
Accounts payable 95,409 98,406
Accrued liabilities 52,486 39,809
Undistributed oil and natural gas proceeds 66,941 59,065
Advances from joint interest partners 2,123 2,394
Current portion of asset retirement obligations 22,010 26,147
Current portion of long-term debt, net 1,000 8,458
Total current liabilities 239,969 234,279
Asset retirement obligations 558,802 535,704
Long-term debt, net 350,972 342,355
Other liabilities 17,365 15,781
Commitments and contingencies 13,851 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; 157,758 shares and 151,647 shares issued, respectively 2 2
Additional paid-in capital 643,055 604,732
Retained deficit (808,821) (780,319)
Treasury stock: 2,869 shares, at cost (24,167) (24,167)
Total shareholders' deficit (189,931) (199,752)
Total liabilities and shareholders' deficit $ 991,028 $ 955,807