Acquisitions of Oil and Natural Gas Properties (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following presents the allocation of the total purchase price of the New Mexico Acquisition to the identified assets acquired and liabilities assumed based on estimated fair value as of the Closing Date:    

Purchase price allocation (in thousands):
Total cash consideration	$	324,686
Assets acquired:
Inventory	$	2,980
Oil and natural gas properties	342,308
Other	$	149
Amount attributable to assets acquired	$	345,437
Liabilities assumed:
Revenue payable	$	1,475
Asset retirement obligations	19,276
Amount attributable to liabilities assumed	$	20,751
Net assets acquired	$	324,686

Schedule of Business Acquisition, Pro Forma Information

The following unaudited pro forma combined results for the three months ended March 31, 2023 reflect the consolidated results of operations of the Company as if the New Mexico Acquisition had occurred on January 1, 2022. The unaudited pro forma information includes adjustments for (i) amortization for the discount and deferred financing costs and interest expense related to the Senior Notes and Credit Facility, (ii) depletion, depreciation and amortization expense, and (iii) interest expense related to the financing for the New Mexico Acquisition. In addition, the pro forma information has been effected for income taxes with a 21.5% statutory tax rate for three months ended March 31, 2023.

		Three Months Ended
		March 31, 2023
	(In thousands, except per share amounts)
Total revenues		$	97,607
Net income		$	33,798
Basic net income per common share		$	1.72
Diluted net income per common share		$	1.70