Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of the Company's consolidated provision for income taxes from continuing operations are as follows:

	Year Ended December 31,
	2023		2022
	(In thousands)
Current income tax expense:
Federal	$	5,852	$	4,026
State	1,020		446
Total current income tax expense	$	6,872	$	4,472
Deferred income tax expense:
Federal	$	24,305	$	27,393
State	3,284		979
Total deferred income tax expense	$	27,589	$	28,372
Total income tax expense	$	34,461	$	32,844

Schedule of Deferred Tax Assets and Liabilities

The Company's net deferred tax position is as follows:

	Year Ended December 31,
	2023		2022
	(In thousands)
Deferred tax assets
Non-cash gain on derivatives	$	—	$	3,563
Intangibles	163		182
Share-based compensation	772		421
Interest expense limitation	3,861		—
Accruals and other	1,123		484
Net operating loss	2,700		2,812
Total deferred tax assets	8,619		7,462
Oil and natural gas assets	(79,761)		(52,665)
Other fixed assets	(661)		(553)
Unrealized gain on derivatives	(1,542)		—
Total deferred tax liabilities	(81,964)		(53,218)
Net deferred tax liabilities	$	(73,345)	$	(45,756)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:

	Year Ended December 31,
	2023		2022
Tax at statutory rate	21.0	%	21.0	%
Nondeductible compensation	0.7	%	0.2	%
Share-based compensation	(0.5)	%	—	%
State income taxes, net of federal benefit	2.4	%	0.7	%
Other	—	%	(0.2)	%
Effective income tax rate	23.6	%	21.7	%