Subsequent events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent events

Note 18 Subsequent events

2024 acquisition

On February 2, 2024 (the "PEP Closing Date"), the Company purchased additional working interests in producing properties associated with the Henry Acquisition, with an effective date of August 1, 2023 (the "PEP Acquisition") through PEP Henry Production Partners LP, PEP HPP Jubilee SPV LP, PEP PEOF Dropkick SPV, LLC, PEP HPP Dropkick SPV LP and HPP Acorn SPV LP. The aggregate purchase price of $79.7 million consisted of (i) 878,690 shares of the Company's Common Stock, (ii) 980,272 shares of the Company's Preferred Stock based upon the share price as of the PEP Closing Date plus the fair value of anticipated dividends and (iii) $1.0 million in estimated transaction-related expenses, inclusive of customary closing price adjustments and subject to post-closing adjustments.

Senior Secured Credit Facility

On January 4, 2024 and February 15, 2024, the Company borrowed an additional $100.0 million and $30.0 million, respectively, on the Senior Secured Credit Facility. As a result, the outstanding balance under the Senior Secured Credit Facility was $265.0 million as of March 4, 2024. See Note 7 for additional discussion of the Senior Secured Credit Facility.