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Investment in Laramie Energy, LLC
 9 Months Ended
Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Laramie Energy, LLC Investment in Laramie Energy, LLC
    As of September 30, 2022, we had a 46.0% ownership interest in Laramie Energy. Laramie Energy is focused on producing natural gas in Garfield, Mesa, and Rio Blanco counties, Colorado. The balance of our investment in Laramie Energy was zero as of September 30, 2022 and December 31, 2021.
Laramie Energy has a term loan agreement which provides a term loan secured by a lien on its natural gas and crude oil properties and related assets. As of September 30, 2022, the term loan had an outstanding balance of $85.1 million. Under the terms of the term loan, Laramie Energy is generally prohibited from making future cash distributions to its owners, including us, except for certain permitted tax distributions. Laramie Energy’s term loan matures on July 1, 2025.
    Summarized financial information for Laramie Energy is as follows (in thousands):
September 30, 2022December 31, 2021
Current assets$61,845 $68,779 
Non-current assets336,991 328,571 
Current liabilities76,594 107,976 
Non-current liabilities248,088 177,503 
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Natural gas and oil revenues$63,621 $46,329 $172,355 $166,293 
Income from operations32,056 20,807 86,124 73,957 
Net loss(5,187)(41,892)(37,704)(1,308)
Laramie Energy’s net loss includes (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Depreciation, depletion, and amortization$6,754 $6,134 $18,018 $21,890 
Unrealized loss on derivative instruments17,367 54,857 70,756 55,039