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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2024
Derivatives [Abstract]  
Schedule of Derivative Volumes The following table sets forth the derivative volumes by period as of September 30, 2024 for the Company:
   Price collars 
Period  Volume
(Bbls/month)		   Weighted
average
floor price
($/Bbl)		   Weighted
average
ceiling price
($/Bbl)		   Weighted
average
sold call
($/Bbl)		 
Q4 2024   9,000   $70.00   $85.50   $85.50 
The following table reflects the weighted-average price of open commodity swap contracts as of September 30, 2024:
Commodity Swaps
       Weighted 
   Volume   average 
Period  (Bbls/month)   price ($/Bbl) 
Q4 2024   2,250   $70.89 
Q1-Q4 2025   5,000   $70.21 

 
Schedule of Derivatives Fair Value Included in Consolidated Balance Sheets The combined fair value of derivatives included in the accompanying consolidated balance sheets as of September 30, 2024 and December 31, 2023 is summarized below.
   As of September 30, 2024 
   Gross fair
value		   Amounts
netted		   Net fair
value		 
Commodity derivatives:            
Short-term derivative asset  $631,851   $(3,338)  $628,513 
Long-term derivative asset   165,682    
—
    165,682 
Short-term derivative liability   (3,338)   3,338    
-
 
Long-term derivative liability        
—
    
-
 
Total derivative liability            $794,195 
   As of December 31, 2023 (Successor) 
   Gross fair
value		   Amounts
netted		   Net fair
value		 
Commodity derivatives:            
Short-term derivative asset  $583,035   $(191,547)  $391,488 
                
Long-term derivative asset   76,199    
—
    76,199 
Short-term derivative liability   (191,547)   (191,547)   
—
 
Long-term derivative liability   
—
    
—
    
—
 
Total derivative asset            $467,687 
Schedule of Derivatives on the Consolidated Statements of Operations The effects of the Company’s derivatives on the consolidated statements of operations are summarized below:
   Three
Months
Ended
September 30,
2024		   Nine
Months
Ended
September 30,
2024		   Three
Months
Ended
September 30,
2023		   Nine
Months
Ended
September 30,
2023		 
   Successor   Predecessor 
Total gain (loss) on unsettled derivatives  $2,008,631   $326,508   $(835,360)  $226,338 
Total gain (loss) on settled derivatives   (107,969)   (506,571)   (600,740)   (899,395)
Net gain (loss) on derivatives  $1,900,662   $(180,063)  $(1,436,100)  $(673,057)