Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

NOTE 12: Subsequent Events

Debt Redetermination

Subsequent to September 30, 2024, the Company's borrowing base under the Credit Facility was reaffirmed at $50 million, which constitutes the periodic redetermination of the borrowing base for December 1, 2024 and is not deemed an unscheduled redetermination.

Derivative Contracts

Subsequent to September 30, 2024, the Company entered into new derivative contracts as summarized in the table below:

	Production volume
Contract period	covered per month	Index	Contract price
Natural gas costless collars
November 2025 - March 2026	50,000 Mmbtu	NYMEX Henry Hub	$3.50 floor / $3.87 ceiling
April 2026 - June 2026	75,000 Mmbtu	NYMEX Henry Hub	$3.00 floor / $3.60 ceiling
July 2026 - September 2026	100,000 Mmbtu	NYMEX Henry Hub	$3.00 floor / $3.60 ceiling
Oil fixed price swaps
April 2026 - June 2026	1,000 Bbls	NYMEX WTI	$65.80