Quarterly report pursuant to Section 13 or 15(d)

CONDENSED COMBINED STATEMENTS OF INCOME

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CONDENSED COMBINED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES                
Oil, natural gas, and related product sales, net       $ 55,717       $ 142,632
EXPENSES                
Lease operating expenses       3,621       8,407
Production taxes       2,506       7,737
Depletion and accretion expense       15,794       45,798
General and administrative       1,764       4,978
Total expenses       23,685       66,920
Net operating income (loss)       32,032       75,712
OTHER INCOME/(EXPENSE)                
Gain/(loss) on derivative contracts       (6,558)       (18,115)
Interest expense       (353)       (926)
Total other income (expense)       (6,911)       (19,041)
NET INCOME/(LOSS)   $ 66,466 $ 27,845 25,121 $ 16,040 $ 15,510   $ 56,671
As Previously Reported                
REVENUES                
Oil, natural gas, and related product sales, net $ 90,194           $ 263,263  
EXPENSES                
Lease operating expenses 6,368           15,840  
Production taxes 5,053           14,628  
Depletion and accretion expense 39,868           70,529  
General and administrative 1,776           4,880  
Total expenses 53,065           105,877  
Net operating income (loss) 37,129           157,386  
OTHER INCOME/(EXPENSE)                
Gain/(loss) on derivative contracts 6,082           (19,147)  
Interest expense (476)           (1,193)  
Total other income (expense) 5,606           (20,340)  
NET INCOME/(LOSS) 42,735     42,735     137,046  
Adjustments                
EXPENSES                
Depletion and accretion expense (14,082)           (14,082)  
Total expenses (14,082)           (14,082)  
Net operating income (loss) 14,082           14,082  
OTHER INCOME/(EXPENSE)                
NET INCOME/(LOSS) 14,082     14,082     14,082  
As Restated                
REVENUES                
Oil, natural gas, and related product sales, net 90,194           263,263  
EXPENSES                
Lease operating expenses 6,368           15,840  
Production taxes 5,053           14,628  
Depletion and accretion expense 25,786           56,447  
General and administrative 1,776           4,880  
Total expenses 38,983           91,795  
Net operating income (loss) 51,211           171,468  
OTHER INCOME/(EXPENSE)                
Gain/(loss) on derivative contracts 6,082           (19,147)  
Interest expense (476)           (1,193)  
Total other income (expense) 5,606           (20,340)  
NET INCOME/(LOSS) $ 56,817     $ 56,817     $ 151,128