SandRidge Energy (SD) 10-K 7 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-33784
Entity Registrant Name	SANDRIDGE ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8084793
Entity Address, Address Line One	1 E. Sheridan Ave, Suite 500
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73104
City Area Code	405
Local Phone Number	429-5500
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	SD
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 473.1
Entity Common Stock, Shares Outstanding		37,100,832
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Company’s definitive proxy statement for the 2024 Annual Meeting of Stockholders, which will be filed with the SEC within 120 days of December 31, 2023, are incorporated by reference in Part III.
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001349436

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	248	659	34
Auditor Name	GRANT THORNTON LLP	MOSS ADAMS LLP	DELOITTE & TOUCHE LLP
Auditor Location	Oklahoma City, Oklahoma	Houston, Texas	Houston, Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 252,407	$ 255,722
Restricted cash - other	1,537	1,746
Accounts receivable, net	22,166	34,735
Derivative contracts	0	4,429
Prepaid expenses	430	523
Other current assets	1,314	7,747
Total current assets	277,854	304,902
Oil and natural gas properties, using full cost method of accounting
Proved	1,538,724	1,507,690
Unproved	11,197	11,516
Less: accumulated depreciation, depletion and impairment	(1,393,801)	(1,380,574)
Net oil and natural gas properties capitalized costs	156,120	138,632
Other property, plant and equipment, net	86,493	92,244
Other assets	3,130	190
Deferred tax assets, net of valuation allowance	50,569	64,529
Total assets	574,166	600,497
Current liabilities
Accounts payable and accrued expenses	38,828	46,335
Asset retirement obligations	9,851	16,074
Other current liabilities	645	870
Total current liabilities	49,324	63,279
Asset retirement obligations	54,553	47,635
Other long-term obligations	2,178	1,661
Total liabilities	106,055	112,575
Commitments and contingencies
Stockholders’ Equity
Common stock, $0.001 par value; 250,000 shares authorized; 37,091 issued and outstanding at December 31, 2023 and 36,868 issued and outstanding at December 31, 2022	37	37
Additional paid-in capital	1,071,021	1,151,689
Accumulated deficit	(602,947)	(663,804)
Total stockholders’ equity	468,111	487,922
Total liabilities and stockholders’ equity	$ 574,166	$ 600,497

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Shares authorized (in shares)	250,000,000	250,000,000
Common stock, issued (in shares)	37,091,000	36,868,000
Common stock, outstanding (in shares)	37,091,000	36,868,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Total revenues	$ 148,641	$ 254,258	$ 168,882
Expenses
Lease operating expenses	41,862	41,286	35,999
Production, ad valorem, and other taxes	10,870	15,880	9,918
Depreciation and depletion—oil and natural gas	15,657	11,542	9,372
Depreciation and amortization—other	6,518	6,342	6,073
General and administrative	10,735	9,449	9,675
Restructuring expenses	406	382	792
Employee termination benefits	19	0	49
(Gain) loss on derivative contracts	(1,447)	(5,975)	2,251
Gain on sale of assets	0	0	(18,952)
Other operating (income) expense	(157)	(99)	(382)
Total expenses	84,463	78,807	54,795
Income (loss) from operations	64,178	175,451	114,087
Other income (expense)
Interest income (expense), net	10,552	1,810	(404)
Other income (expense), net	87	378	3,055
Total other income (expense)	10,639	2,188	2,651
Income (loss) before income taxes	74,817	177,639	116,738
Income tax (benefit)	13,960	(64,529)	0
Net Income (loss)	$ 60,857	$ 242,168	$ 116,738
Net income (loss) per share
Basic (in dollars per share)	$ 1.65	$ 6.59	$ 3.21
Diluted (in dollars per share)	$ 1.64	$ 6.52	$ 3.13
Weighted average number of common shares outstanding
Basic (in shares)	36,939	36,745	36,393
Diluted (in shares)	37,134	37,154	37,271
Oil, natural gas and NGL
Revenues
Total revenues	$ 148,641	$ 254,258	$ 168,882

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Warrants	Additional Paid-In Capital	Accumulated Deficit
Beginning Balance (in shares) at Dec. 31, 2020		35,928	6,734
Beginning Balance at Dec. 31, 2020	$ 128,066	$ 36	$ 88,520	$ 1,062,220	$ (1,022,710)
Increase (Decrease) in Stockholders' Equity
Issuance of stock awards, net of cancellations (in shares)		547
Issuance of stock awards, net of cancellations	0	$ 1		(1)
Common stock issued for general unsecured claims (in shares)		200
Common stock issued for general unsecured claims	0
Stock-based compensation	1,417			1,417
Issuance of warrants for general unsecured claims (in shares)			247
Issuance of warrants for general unsecured claims	0
Tax withholdings paid in exchange for shares withheld on employee vested stock awards	(899)			(899)
Net Income (loss)	116,738				116,738
Ending Balance (in shares) at Dec. 31, 2021		36,675	6,981
Ending Balance at Dec. 31, 2021	245,322	$ 37	$ 88,520	1,062,737	(905,972)
Increase (Decrease) in Stockholders' Equity
Issuance of stock awards, net of cancellations (in shares)		193
Issuance of stock awards, net of cancellations		$ 0		0
Stock-based compensation	1,603			1,603
Tax withholdings paid in exchange for shares withheld on employee vested stock awards	(1,177)			(1,177)
Warrants exercised	6		$ (2)	8
Cancellation of expired warrants (in shares)			(6,981)
Cancellation of expired warrants	0		$ (88,518)	88,518
Net Income (loss)	$ 242,168				242,168
Ending Balance (in shares) at Dec. 31, 2022	36,868	36,868	0
Ending Balance at Dec. 31, 2022	$ 487,922	$ 37	$ 0	1,151,689	(663,804)
Increase (Decrease) in Stockholders' Equity
Issuance of stock awards, net of cancellations (in shares)		223
Stock-based compensation	2,039			2,039
Tax withholdings paid in exchange for shares withheld on employee vested stock awards	(929)			(929)
Dividends to shareholders	(81,778)			(81,778)
Net Income (loss)	$ 60,857				60,857
Ending Balance (in shares) at Dec. 31, 2023	37,091	37,091	0
Ending Balance at Dec. 31, 2023	$ 468,111	$ 37	$ 0	$ 1,071,021	$ (602,947)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)	$ 60,857	$ 242,168	$ 116,738
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Provision for expected credit losses	0	0	(2,329)
Depreciation, depletion and amortization	22,176	17,884	15,445
Deferred income taxes	13,960	(64,529)	0
Debt issuance costs amortization	0	0	57
Write off of debt issuance costs	0	0	174
(Gain) loss on derivative contracts	(1,447)	(5,975)	2,251
Settlement gains (losses) on derivative contracts	5,876	1,525	(2,230)
(Gain) on sale of assets	0	0	(18,952)
Stock-based compensation	1,945	1,526	1,394
Other	159	153	144
Changes in operating assets and liabilities increasing (decreasing) cash
Receivables	12,130	(13,211)	841
Prepaid expenses	93	(1,507)	2,264
Other current assets	2,203	(5,378)	0
Other assets and liabilities, net	(56)	(129)	(1,212)
Accounts payable and accrued expenses	(1,409)	(5,246)	(2,241)
Asset retirement obligations	(909)	(2,585)	(2,084)
Net cash provided by operating activities	115,578	164,696	110,260
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures for property, plant and equipment	(26,375)	(44,085)	(11,583)
Acquisitions of assets	(11,232)	(1,431)	(3,545)
Purchase of other property and equipment	(29)	(49)	(59)
Proceeds from sale of assets	1,472	448	38,160
Net cash (used in) provided by investing activities	(36,164)	(45,117)	22,973
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid to shareholders	(81,515)	0	0
Repayments of borrowings	0	0	(20,000)
Debt issuance costs	0	0	(75)
Reduction of financing lease liability	(588)	(541)	(1,024)
Proceeds from exercise of stock options	94	77	23
Tax withholdings paid in exchange for shares withheld on employee vested stock awards	(929)	(1,177)	(899)
Cash received on warrant exercises	0	6	0
Net cash (used in) financing activities	(82,938)	(1,635)	(21,975)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	(3,524)	117,944	111,258
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	257,468	139,524	28,266
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of year	$ 253,944	$ 257,468	$ 139,524

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Business. SandRidge Energy, Inc. is an oil and natural gas acquisition, development and production company headquartered in Oklahoma City, Oklahoma with a principal focus on developing and producing hydrocarbon resources in the United States. Principles of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly owned or majority owned subsidiaries, including its proportionate share of the Royalty Trusts. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates. The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and NGL reserves; impairment tests of long-lived assets; the carrying value of unproved oil and natural gas properties; depreciation, depletion and amortization; asset retirement obligations; determinations of significant alterations to the full cost pool and related estimates of fair value used to allocate the full cost pool net book value to divested properties, as necessary; valuation allowances for deferred tax assets; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. Although management believes these estimates are reasonable, actual results could differ significantly from those estimates. Going Concern Consideration. The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Cash and Cash Equivalents. The Company considers all highly-liquid instruments with an original maturity of three months or less to be cash equivalents as these instruments are readily convertible to known amounts of cash and bear insignificant risk of changes in value due to their short maturity period. Additionally, the Company considers demand deposits or accounts that have the general characteristics of demand deposits where we may deposit additional funds at any time and also effectively withdraw funds at any time without prior notice or penalty to be cash equivalents. Restricted Cash. The Company maintains funds related to collateralized letters of credit and secured credit cards. Accounts Receivable, Net. The Company has receivables for sales of oil, natural gas and NGLs, as well as receivables related to the drilling, completion, and production of oil and natural gas, which have a contractual maturity of one year or less. An allowance for expected credit losses has been established based on management’s review of the collectability of the receivables in light of historical experience, the nature and volume of the receivables and other subjective factors. Accounts receivable are charged against the allowance, upon approval by management, when they are deemed uncollectible. Refer to Note 5 for further information on the Company’s accounts receivable and allowance for expected credit losses. Fair Value of Financial Instruments. Certain of the Company’s financial assets and liabilities are measured at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company’s financial instruments, not otherwise recorded at fair value, consist primarily of cash, restricted cash, prepaid expenses, trade receivables, and trade payables and accrued expenses. The carrying values of cash, restricted cash, trade receivables, trade payables and accrued expenses are considered to reflect fair values due to the short-term maturity of these instruments. See Note 4 for further discussion of the Company’s fair value measurements. Fair Value of Non-financial Assets and Liabilities. The Company also applies fair value accounting guidance to initially, or as events dictate, measure non-financial assets and liabilities such as those obtained through business acquisitions, property, plant and equipment and asset retirement obligations. These assets and liabilities are subject to fair value adjustments only in certain circumstances and are not subject to recurring revaluations. Fair value may be estimated using comparable market data, a discounted cash flow method, or a combination of the two as considered appropriate based on the circumstances. Under the discounted cash flow method, estimated future cash flows are based on management’s expectations for the future and include estimates of future oil and natural gas production or other applicable sales estimates, operational costs and a risk-adjusted discount rate. The Company may use the present value of estimated future cash inflows and/or outflows, third-party offers or prices of comparable assets with consideration of current market conditions to fair value its non-financial assets and liabilities when necessary. Derivative Financial Instruments. The Company enters into oil and natural gas derivative contracts to manage risks related to fluctuations in prices of its expected oil and natural gas production. The Company considers current and anticipated market conditions, planned capital expenditures, and any debt service requirements when determining whether to enter into oil and gas derivative contracts. The Company may also, from time to time, enter into interest rate swaps in order to manage risk associated with its exposure to variable interest rates. The Company recognizes its derivative instruments as either assets or liabilities at fair value with changes in fair value recognized in earnings unless designated as a hedging instrument. The Company has elected not to designate price risk management activities as accounting hedges under applicable accounting guidance. The Company nets derivative assets and liabilities whenever it has a legally enforceable master netting agreement with the counterparty to a derivative contract. The related cash flow impact of the Company’s derivative activities are reflected as cash flows from operating activities unless the derivative contract contains a significant financing element, in which case, cash settlements are classified as cash flows from financing activities in the consolidated statements of cash flows. See Note 6 for further discussion of the Company’s derivatives. Oil and Natural Gas Operations. The Company uses the full cost method to account for its oil and natural gas properties. Under full cost accounting, all costs directly associated with the acquisition, exploration and development of oil, natural gas and NGL reserves are capitalized into a full cost pool. These capitalized costs include costs of unproved properties and internal costs directly related to the Company’s acquisition, development, and exploration activities and capitalized interest. The Company capitalized gross internal costs of $0.2 million, $0.3 million and $0.5 million during the years ended December 31, 2023, 2022 and 2021, respectively. Capitalized costs are amortized using the unit-of-production method. Under this method, depreciation and depletion is computed at the end of each quarter by multiplying total production for the quarter by a depletion rate. The depletion rate is determined by dividing the total unamortized cost base plus future development costs by net equivalent proved reserves at the beginning of the quarter. Costs associated with unproved properties are excluded from the amortizable cost base until it has been determined that proved reserves exist or a lease is impaired. Unproved properties are reviewed at the end of each quarter to determine whether the costs incurred should be reclassified to the full cost pool and amortized. The costs associated with unproved properties are primarily the costs to acquire unproved acreage. All items classified as unproved property are assessed, on an individual basis or as a group if properties are individually insignificant, on a quarterly basis for possible impairment. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and whether the proved reserves can be developed economically. During any period in which these factors indicate an impairment, all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Costs of seismic data are allocated to unproved leaseholds and transferred to the amortization base with the associated leasehold costs on a specific project basis. Under the full cost method of accounting, total capitalized costs of oil and natural gas properties, net of accumulated depreciation, depletion and impairment, less related deferred income taxes and electrical infrastructure costs may not exceed the ceiling limitation. A ceiling limitation calculation is performed at the end of each quarter. If the ceiling limitation is exceeded, a write-down or impairment of the full cost pool is required. A write-down of the carrying value of the full cost pool is a non-cash charge that reduces earnings and impacts stockholders’ equity and typically results in lower depreciation and depletion expense in future periods. Once incurred, a write-down cannot be reversed at a later date. The ceiling limitation calculation is prepared using SEC prices adjusted for basis or location differentials, held constant over the life of the reserves. If applicable, these prices would be further adjusted to include the effects of any fixed price arrangements for the sale of oil and natural gas. Derivative contracts that qualify and are designated as cash flow hedges are included in estimated future cash flows, although the Company historically has not designated any of its derivative contracts as cash flow hedges. The future cash outflows associated with future development or abandonment of wells are included in the computation of the discounted present value of future net revenues for purposes of the ceiling limitation calculation. Sales and abandonments of oil and natural gas properties being amortized are accounted for as adjustments to the full cost pool, with no gain or loss recognized, unless the adjustments would significantly alter the relationship between capitalized costs and proved oil, natural gas and NGL reserves. A significant alteration would not ordinarily be expected to occur upon the sale of reserves involving less than 25% of the proved reserve quantities of a cost center, unless it results in a greater than 10% change to the depletion rate. Property, Plant and Equipment, Net. Other capitalized costs, including other property and equipment, such as electrical infrastructure assets and buildings, are carried at cost or fair value established on the Emergence Date less applicable depreciation. Renewals and improvements are capitalized while repairs and maintenance are expensed. Depreciation of such property and equipment is computed using the straight-line method over the estimated useful lives of the assets, which range from 7 to 39 years for buildings and 1 to 27 years for the electrical infrastructure assets and other equipment. When property and equipment components are disposed, the cost and the related accumulated depreciation are removed and any resulting gain or loss is reflected in the consolidated statements of operations. Realization of the carrying value of property and equipment is reviewed for possible impairment whenever events or changes in circumstances indicate that estimated future net operating cash flows directly related to the asset or asset group including disposal value is less than the carrying amount of the asset or asset group. Impairment is measured as the excess of the carrying amount of the impaired asset or asset group over its fair value. Capitalized Interest. Interest is capitalized on assets being made ready for use using a weighted average interest rate based on the Company’s borrowings outstanding during that time. The Company did not capitalize any interest on unproved properties during the years ended December 31, 2023 and 2022. Debt Issuance Costs. The Company includes unamortized debt issuance costs, if any, in other assets in the consolidated balance sheets. Other debt issuance costs related to long-term debt, if any, are presented in the balance sheets as a direct deduction from the associated debt liability, if material. Debt issuance costs are amortized to interest expense over the term of the related debt. When debt is retired, any unamortized costs, if material are written off and included in gain or loss on extinguishment of debt. Asset Retirement Obligations. The Company owns oil and natural gas assets that require expenditures to plug, abandon and remediate associated property at the end of their productive lives, in accordance with applicable federal and state laws. Liabilities for these asset retirement obligations are recorded at the estimated present value at the time the wells are drilled or acquired, with the offsetting increase to property cost. These property costs are depreciated on a unit-of-production basis within the full cost pool. The liability accretes each period until it is settled or the asset is sold and the liability is removed. Both the accretion and the depreciation are included in the consolidated statements of operations. The Company determines its asset retirement obligations by calculating the present value of estimated expenses related to the liability. Estimating future asset retirement obligations requires management to make estimates and judgments regarding timing, existence of a liability and what constitutes adequate restoration. Inherent in the present value calculation are the timing of settlement and changes in the legal, regulatory, environmental and political environments, which are subject to change. See Note 10 for further discussion of the Company’s asset retirement obligations. Revenue Recognition and Natural Gas Balancing. Sales of oil, natural gas and NGLs are recorded at a point in time when control of the oil, natural gas and NGL production passes to the customer at the inlet of the processing plant or pipeline, or the delivery point for onloading to a delivery truck, net of royalties, discounts and allowances, as applicable. Additionally, the Company deducts transportation costs from oil, natural gas and NGL revenues. Taxes assessed by governmental authorities on oil, natural gas and NGL sales are included in production, ad valorem and other taxes in the consolidated statements of operations. See Note 14 for further information on the Company's accounting policies related to revenues. The Company accounts for natural gas production imbalances using the sales method, which recognizes revenue on all natural gas sold even though the natural gas volumes sold may be more or less than the Company's ownership entitles it to sell. Liabilities are recorded for imbalances greater than the Company’s proportionate share of remaining estimated natural gas reserves. The Company has recorded a liability for natural gas imbalance positions of $1.5 million and $1.4 million at December 31, 2023 and 2022, respectively. The Company includes the gas imbalance positions in other long-term obligations in the consolidated balance sheets. Allocation of Share-Based Compensation. Equity compensation provided to employees directly involved in exploration and development activities is capitalized to the Company’s oil and natural gas properties. Equity compensation not capitalized is recognized in general and administrative expenses, production expenses, and other operating expense in the accompanying consolidated statements of operations. Restructuring expenses . Restructuring expenses represent fees and costs associated with our outsourcing and relocation of certain corporate specific functions that are of a non-recurring nature, expenses related to our predecessor company's 2016 bankruptcy, and our exit from North Park Basin in Colorado. Income Taxes. Deferred income taxes reflect the net tax effects of temporary differences between the amounts of assets and liabilities reported for financial statement purposes and their tax basis. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. The Company has elected an accounting policy in which interest and penalties on income taxes resulting from the underpayment or late payment of income taxes due to a taxing authority or relating to income tax contingencies are presented as a component of the income tax provision, rather than as interest expense. Earnings per Share. Basic earnings per common share is calculated by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing earnings available to common stockholders by the weighted average number of diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities consist of unvested restricted stock awards and units, performance share units, warrants, and stock options using the treasury method. Under the treasury method, the amount of unrecognized compensation expense related to unvested stock-based compensation grants or the proceeds that would be received if the warrants were exercised are assumed to be used to repurchase shares at the average market price. When a loss exists, all potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share. See Note 17 for the Company’s earnings per share calculation. Commitments and Contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation or other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Environmental expenditures are expensed or capitalized, as appropriate, depending on future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefit are expensed. Environmental liabilities related to future costs are recorded on an undiscounted basis when assessments and/or remediation activities are probable and costs can be reasonably estimated. See Note 11 for discussion of the Company’s commitments and contingencies. Concentration of Risk. We regularly maintain cash in excess of federally insured limits at financial institutions. Additionally, all of the Company’s commodity derivative transactions have been carried out in the over-the-counter market, which involves the risk that the counterparties may be unable to meet the financial terms of the transactions. The counterparty for all of the Company’s commodity derivative transactions have an “investment grade” credit rating. The Company monitors the credit ratings of its commodity derivative counterparties on an ongoing basis and considers their credit default risk ratings in determining the fair value of its commodity derivative contracts. Historically, the Company’s commodity derivative contracts have been with multiple counterparties to minimize exposure to any individual counterparty. The Company enters into master netting agreements with all of its commodity derivative counterparties, which allows the Company to net its commodity derivative assets and liabilities for like commodities and derivative instruments with the same counterparty. As a result of the netting provisions, the Company’s maximum amount of loss under commodity derivative transactions due to credit risk was limited to the net amounts due from the counterparties under the commodity derivative contracts. The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payment for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. The Company’s joint interest partners are primarily independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the joint interest partners to reimburse the Company could be adversely affected. Purchasers of the Company’s oil, natural gas and NGL production consist primarily of independent marketers, large oil and natural gas companies and gas pipeline companies. The number of available purchasers and markets in the areas where we sell our production reduces the risk that the loss of a single downstream customer would materially affect our sales. We do not have any material commitments to deliver fixed and determinable quantities of oil and natural gas in the future under existing sales contracts or sales agreements. The Company had sales exceeding 10% of total revenues to the following oil and natural gas purchasers (in thousands): Sales % of Revenue December 31, 2023 Plains Marketing, L.P. $ 71,832 48.3 % Targa Pipeline Mid-Continent West OK LLC $ 69,743 46.9 % December 31, 2022 Targa Pipeline Mid-Continent West OK LLC $ 147,902 58.2 % Plains Marketing, L.P. $ 76,342 30.0 % December 31, 2021 Targa Pipeline Mid-Continent West OK LLC $ 91,066 53.9 % Plains Marketing, L.P. $ 51,204 30.3 % Recent Accounting Pronouncements Not Yet Adopted . The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which require greater disaggregation of income tax disclosures. The amendments in this update improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. This update improves the effectiveness and comparability of disclosures by requiring disaggregation by jurisdiction of disclosures of pretax income (or loss) and income tax expense (or benefit). This ASU is to be applied on a prospective basis, with retrospective application permitted. The guidance in this update is effective for fiscal years beginning after December 15, 2024. We are currently evaluating the potential effect of the adoption of this ASU will have on our consolidated financial statements and related disclosures. The FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires entities to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires entities to disclose the title and position of the Chief Operating Decision Maker. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. We expect this ASU to only impact our disclosures with no impact to our consolidated financial statements. The FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, amended by ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. This guidance provides optional practical expedients and exceptions for applying United States Generally Accepted Accounting Principles ("US GAAP") provisions to contracts, hedging relationships, and other transactions that reference LIBOR, or other reference rates expected to be discontinued because of reference rate reform, if certain criteria are met. The guidance in this update was effective upon its issuance. If elected, the guidance is to be applied prospectively through December 31, 2024. We are currently evaluating the effect the potential adoption of this ASU will have on our consolidated financial statements, if any.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental disclosures to the consolidated statements of cash flows are presented below (in thousands): Year Ended December 31, 2023 2022 2021 Supplemental Disclosure of Cash Flow Information Cash paid for interest, net of amounts capitalized $ (104) $ (215) $ (177) Supplemental Disclosure of Noncash Investing and Financing Activities Capital expenditures for property, plant and equipment in accounts payables and accrued expenses $ 919 $ 6,151 $ 1,029 Right-of-use assets obtained in exchange for financing lease obligations $ 760 $ 713 $ 1,258 Inventory material transfers to oil and natural gas properties $ 1,289 $ — $ — Asset retirement obligation capitalized $ 113 $ 86 $ 18 Asset retirement obligation removed due to divestiture $ (1,413) $ (623) $ (7,662) Asset retirement obligation revisions $ (939) $ 2,656 $ 6,800 Dividend payable $ 263 $ — $ —

Acquisitions and Divestitures o

Acquisitions and Divestitures of Assets and Oil and Gas Properties	12 Months Ended
	Dec. 31, 2023
Acquisitions And Dispositions [Abstract]
Acquisitions and Divestitures of Assets and Oil and Gas Properties	Acquisitions and Divestitures of Assets and Oil and Gas Properties 2023 Acquisitions On July 11, 2023, the Company closed an acquisition that increased its ownership interest in twenty-six producing wells operated by the Company within the Northwest Stack play for $10.6 million, after customary post-closing adjustments, with an effective date of April 1, 2023. The Company used its cash on hand to fund the acquisition 2021 Acquisitions and Divestitures On April 22, 2021, the Company closed an acquisition of all the overriding royalty interest assets of SandRidge Mississippian Trust I (the “Trust”). The gross purchase price was $4.9 million (net $3.6 million, given our 26.9% ownership of the Trust). North Park Basin Sale

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures and reports certain assets and liabilities on a fair value basis and has classified and disclosed its fair value measurements using the levels of the fair value hierarchy noted below. The carrying values of cash, restricted cash, accounts receivable, prepaid expenses, certain other current assets, accounts payable and accrued expenses and other current liabilities and other long-term obligations included in the consolidated balance sheets approximated fair value at December 31, 2023 and December 31, 2022. Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Measurement based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable for objective sources ( i.e., supported by little or no market activity). Assets and liabilities that are measured at fair value are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values, stated below, considers the market for the Company's financial assets and liabilities, the associated credit risk and other factors. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. The Company had assets classified in Level 2 of the hierarchy as of December 31, 2022. Level 2 Fair Value Measurements Commodity Derivative Contracts. As applicable, the fair values of the Company’s oil, natural gas and NGL fixed price swaps are based upon inputs that are either readily available in the public market, such as oil, natural gas and NGL futures prices, volatility factors and discount rates, or can be corroborated from active markets. As applicable, if the Company has a commodity derivative contract in place, the fair value is determined through the use of a discounted cash flow model or option pricing model using the applicable inputs discussed above. The Company applies a weighted average credit default risk rating factor for its counterparties or gives effect to its credit default risk rating, as applicable, in determining the fair value of these derivative contracts. Credit default risk ratings are based on current published credit default swap rates. Fair Value - Recurring Measurement Basis There were no open commodity derivative contracts as of December 31, 2023. As of December 31, 2022 the following table summarizes the Company’s assets measured at fair value on a recurring basis by the fair value hierarchy (in thousands): December 31, 2022 Fair Value Measurements Netting(1) Assets at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 4,429 $ — $ — $ 4,429 Total $ — $ 4,429 $ — $ — $ 4,429 (1) Represents the impact of netting assets and liabilities with counterparties where the right of offset exists. Transfers.

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Accounts Receivable	Accounts Receivable A summary of accounts receivable is as follows (in thousands): December 31, 2023 2022 Oil, natural gas and NGL sales $ 14,545 $ 21,839 Joint interest billing 7,405 11,234 Other 2,243 3,689 Total accounts receivable 24,193 36,762 Less: allowance for expected credit losses (2,027) (2,027) Total accounts receivable, net $ 22,166 $ 34,735 The following table presents the balance and activity in the allowance for expected credit losses for the years ended December 31, 2023 and 2022 (in thousands): Year Ended December 31, 2023 2022 Beginning balance $ 2,027 $ 2,027 Additions charged to costs and expenses — — Deductions (1) — — Ending balance $ 2,027 $ 2,027 ____________________ (1) Deductions represent collections of amounts for which an allowance had previously been established.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Commodity Derivatives The Company is exposed to commodity price risk, which impacts the predictability of its cash flows from the sale of oil, natural gas and NGL. On occasion, the Company has attempted to manage this risk on a portion of its forecasted oil, natural gas or NGL production sales through the use of commodity derivative contracts. There were no open commodity derivative contracts as of December 31, 2023. Historically, the Company has not designated any of its derivative contracts as hedges for accounting purposes. As applicable, if the Company has open derivative contracts, the Company has recorded such contracts at fair value with changes in derivative contract fair values recognized as a gain or loss on derivative contracts in the condensed consolidated income statements. Commodity derivative contracts were settled on a monthly basis, and the commodity derivative contract valuations were adjusted on a mark-to-market valuation basis quarterly. The following table summarizes derivative activity for the years ended December 31, 2023, 2022 and 2021, (in thousands): Year Ended December 31, 2023 2022 2021 (Gain) loss on derivative contracts $ (1,447) $ (5,975) $ 2,251 Realized settlement gains (losses) on derivative contracts $ 5,876 $ 1,525 $ (2,230) Master Netting Agreements and the Right of Offset. As applicable, the Company historically has had master netting agreements with all of its commodity derivative counterparties and has presented its derivative assets and liabilities with the same counterparty on a net basis in the unaudited condensed consolidated balance sheets. As a result of the netting provisions, the Company's maximum amount of loss under commodity derivative transactions due to credit risk was limited to the net amounts due from its counterparties. There were no open commodity derivatives contracts as of December 31, 2023. As of December 31,2022, the Company’s open commodity derivative contracts were held with one counterparty. There were no open derivative positions as of December 31, 2023. The following tables summarize (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative asset positions as of December 31, 2022 (in thousands): December 31, 2022 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 4,429 $ — $ 4,429 $ — $ 4,429 Total $ 4,429 $ — $ 4,429 $ — $ 4,429 Because we did not designate any of our derivative contracts as hedges for accounting purposes, changes in the fair value of our derivative contracts were recognized as gains and losses in the earnings of the relevant period. As a result, and as applicable, our current period earnings could have been significantly affected by changes in the fair value of our commodity derivative contracts. Changes in fair value were principally measured based on a comparison of future prices to the contract price at the end of the period. Fair Value of Derivatives The following table presents the fair value of the Company’s derivative contracts on a net basis with same counterparty netting (in thousands): Type of Contract Balance Sheet Classification December 31, 2022 Natural Gas Current assets - Derivative Contracts $ 4,429 Total net derivative contracts $ 4,429 See Note 4 for additional discussion of the fair value measurement of the Company’s derivative contracts.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate was used as the discount rate when determining the present value of future payments. Lease assets are recognized based on the lease liability plus any prepaid lease payments and excluding lease incentives and initial direct costs incurred for the same periods. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that option will be exercised. The Company recognizes right-of-use assets and current and non-current lease liabilities on the balance sheet for all leases with lease terms of greater than one year. Short-term leases that have an initial term of one year or less are not capitalized. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Capitalized operating leases are included in other assets, other current liabilities other long-term other current liabilities other long-ter The Company had operating and financing leases for vehicles, office space and equipment outstanding during the year ended December 31, 2023, 2022 and 2021 which were not significant to the consolidated financial statements. The components of lease costs recognized for the Company's right-of-use leases are shown below (in thousands): Year Ended December 31, 2023 Year Ended December 31, 2022 Year Ended December 31, 2021 Short-term lease cost (1) $ 3,139 $ 4,208 $ 892 Financing lease cost 874 673 389 Operating lease cost 167 161 151 Total lease cost $ 4,180 $ 5,042 $ 1,432 ___________________ (1)
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate was used as the discount rate when determining the present value of future payments. Lease assets are recognized based on the lease liability plus any prepaid lease payments and excluding lease incentives and initial direct costs incurred for the same periods. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that option will be exercised. The Company recognizes right-of-use assets and current and non-current lease liabilities on the balance sheet for all leases with lease terms of greater than one year. Short-term leases that have an initial term of one year or less are not capitalized. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Capitalized operating leases are included in other assets, other current liabilities other long-term other current liabilities other long-ter The Company had operating and financing leases for vehicles, office space and equipment outstanding during the year ended December 31, 2023, 2022 and 2021 which were not significant to the consolidated financial statements. The components of lease costs recognized for the Company's right-of-use leases are shown below (in thousands): Year Ended December 31, 2023 Year Ended December 31, 2022 Year Ended December 31, 2021 Short-term lease cost (1) $ 3,139 $ 4,208 $ 892 Financing lease cost 874 673 389 Operating lease cost 167 161 151 Total lease cost $ 4,180 $ 5,042 $ 1,432 ___________________ (1)

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands): December 31, 2023 2022 Oil and natural gas properties Proved $ 1,538,724 $ 1,507,690 Unproved 11,197 11,516 Total oil and natural gas properties 1,549,921 1,519,206 Less accumulated depreciation, depletion and impairment (1,393,801) (1,380,574) Net oil and natural gas properties capitalized costs 156,120 138,632 Land 200 200 Electrical infrastructure 121,819 121,819 Non-oil and natural gas equipment 1,656 1,644 Buildings and structures 3,603 3,603 Financing Leases 1,399 1,468 Total 128,677 128,734 Less accumulated depreciation and amortization (42,184) (36,490) Other property, plant and equipment, net 86,493 92,244 Total property, plant and equipment, net $ 242,613 $ 230,876 The average rates used for depreciation and depletion of oil and natural gas properties were $1.82 per Boe in 2023, $1.18 per Boe in 2022 and $0.78 per Boe in 2021. Costs Excluded from Amortization Costs excluded from amortization were related to unproved properties and were $11.2 million and $11.5 million, at December 31, 2023 and 2022, respectively. For leases that do not have existing production that would otherwise extend the lease term, the Company estimates that any associated unproved costs will be evaluated and transferred to the amortization base of the full cost pool within a three

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consist of the following (in thousands): December 31, 2023 2022 Accounts payable and other accrued expenses $ 12,854 $ 17,989 Production payable 21,086 22,290 Payroll and benefits 4,146 3,471 Taxes payable 742 2,585 Total accounts payable and accrued expenses $ 38,828 $ 46,335

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The following table presents the balance and activity of the Company’s asset retirement obligations (in thousands): Year Ended December 31, 2023 2022 2021 Beginning balance $ 63,709 $ 59,368 $ 57,168 Liability incurred upon acquiring and drilling wells 113 86 18 Revisions in estimated cash flows (1) (939) 2,656 6,800 Liability settled or disposed in current period (2) (2,927) (2,296) (8,668) Accretion (3) 4,448 3,895 4,050 Ending balance 64,404 63,709 59,368 Less: current portion 9,851 16,074 17,606 Asset retirement obligations, net of current $ 54,553 $ 47,635 $ 41,762 ____________________ (1) Revisions for the years ended December 31, 2023, 2022 and 2021 relate primarily to changes in working interest, estimated well lives, and changes in plugging cost estimates. (2) $6.1 million is related to the sale of NPB in February 2021. (3) Included on the Depreciation and depletion - oil and natural gas line item on the Consolidated Statements of Operations.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Included below is a discussion of the Company's various future commitments and contingencies as of December 31, 2023. The Company has provided accruals where necessary for contingent liabilities, based on ASC 450, Contingencies, when it has determined that a liability is probable and reasonably estimable. The Company continuously assesses the potential liability related to the Company's pending litigation and revises its estimates when additional information becomes available. Additionally, the Company currently expenses all legal costs as they are incurred. The commitments and contingencies under these arrangements are not recorded in the accompanying consolidated balance sheets. Legal Proceedings. As previously disclosed, on May 16, 2016, the Company and certain of its direct and indirect subsidiaries (collectively, the “Debtors”) filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The Bankruptcy Court confirmed the joint plan of organization (the “Plan”) of the Debtors on September 9, 2016, and the Debtors subsequently emerged from bankruptcy on October 4, 2016. Pursuant to the Plan, claims against the Company were discharged without recovery in each of the following consolidated cases (the “Cases”): • In re SandRidge Energy, Inc. Securities Litigation , Case No. 5:12-cv-01341-LRW, USDC, Western District of Oklahoma (“In re SandRidge Energy, Inc. Securities Litigation”); and • Ivan Nibur, Lawrence Ross, Jase Luna, Matthew Willenbucher, and the Duane & Virginia Lanier Trust v. SandRidge Mississippian Trust I, et al ., Case No. 5:15-cv-00634-SLP, USDC, Western District of Oklahoma (“Lanier Trust”) Both cases were settled with all defendants except the SandRidge Mississippian Trust I (“the Trust”), which is being sued by a class of purchasers of units under Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, based on allegations that the Trust, made misrepresentations or omissions concerning various topics including the performance of wells operated by the Company. The Company is contractually obligated to indemnify the Trust for losses, claims, damages, liabilities and expenses, including reasonable costs of investigation and attorney’s fees and expenses, which it is required to advance. Such indemnification is not covered by insurance . Considering the status of the Lanier Trust matter, and the facts, circumstances and legal theories relating thereto, the Company is not able to determine the likelihood of an outcome or provide an estimate of any reasonably possible loss or range of possible loss related thereto. However, such losses, if incurred, could be material. The Company has not established any liabilities relating to the Lanier Trust matter and believes that the plaintiffs’ claims are without merit. Separately, the Company had received a demand by two of the settling individual defendants to fund a proposed settlement of $17 million with those defendants. The Company refused and filed an action in Oklahoma state court seeking a declaratory judgment that the defendants were not entitled to any settlement. As a result of the Company’s refusal to fund the settlement, separate insurance was triggered. The insurance carriers funded the settlement of $17 million and are seeking recovery from the Company in the State court action. The Company disputes any liability under this demand and intends to continue to vigorously defend against this claim. Considering the status of this matter, and the facts, circumstances and legal theories thereto, the Company is not able to determine the likelihood of an outcome. The Company has not established any liabilities relating to this matter. In addition to the matters described above, the Company is involved in various lawsuits, claims and proceedings, which are being handled and defended by the Company in the ordinary course of business.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s income tax (benefit) provision consisted of the following components (in thousands): Year Ended December 31, 2023 2022 2021 Current Federal $ — $ — $ — State — — — — — — Deferred Federal 12,002 (55,796) — State 1,958 (8,733) — 13,960 (64,529) — Total (benefit) provision $ 13,960 $ (64,529) $ — A reconciliation of the (benefit) provision for income taxes at the statutory federal tax rate to the Company’s actual income tax (benefit) provision is as follows (in thousands): Year Ended December 31, 2023 2022 2021 Computed at federal statutory rate $ 15,712 $ 37,304 $ 24,404 State taxes, net of federal benefit 2,433 5,843 3,012 Non-deductible expenses 2 3 83 Stock-based compensation (71) 23 (541) Return to provision adjustments 738 1,015 (221) Change in statutory tax rate 2,665 25,499 — Change in state net operating loss carryforwards — 31,762 — Change in valuation allowance (7,537) (165,978) (26,733) Other 18 — (4) Total (benefit) provision $ 13,960 $ (64,529) $ — Effective tax rate 18.7 % (36.3) % — % Deferred income taxes are provided to reflect the future tax consequences of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. In assessing the realizability of the deferred tax assets, we consider whether it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future income in periods in which the deferred tax assets can be utilized. In prior years, we determined that the deferred tax assets did not meet the more likely than not threshold of being utilized and thus recorded a valuation allowance. As of December 31, 2023, we partially released our valuation allowance on our deferred tax assets by $50.6 million. We anticipate being able to utilize these deferred tax assets based on the generation of future income. A change in the estimate of future income could cause the valuation allowance to be adjusted in subsequent periods. As the partial valuation allowance release as of December 31, 2023 was lower than the partial valuation allowance release as of December 31, 2022 of $64.5 million, the Company recognized $14.0 million of deferred federal and state income tax expense for the year ended December 31, 2023. Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2023 December 31, 2022 Deferred tax liabilities Investments (1) $ — $ — Derivative contracts — — Total deferred tax liabilities — — Deferred tax assets Property, plant and equipment 68,750 89,090 Net operating loss carryforwards 372,903 373,702 Tax credits and other carryforwards 33,851 33,852 Asset retirement obligations 13,551 13,791 Investments (1) 121 165 Other 1,618 1,392 Total deferred tax assets 490,794 511,992 Valuation allowance (440,225) (447,463) Net deferred tax asset $ 50,569 $ 64,529 ____________________ (1) Includes the Company’s deferred tax liability resulting from its investment in the Royalty Trusts. Internal Revenue Code (“IRC”) Section 382 addresses company ownership changes and specifically limits the utilization of certain deductions and other tax attributes on an annual basis following an ownership change. As a result of the Chapter 11 reorganization and related transactions, the Company experienced an ownership change within the meaning of IRC Section 382 during 2016 that subjected certain of the Company’s tax attributes, including net operating losses ("NOLs"), to an IRC Section 382 limitation. This limitation has not resulted in cash taxes for any period subsequent to the ownership change. Since the 2016 ownership change, the Company has generated additional NOLs and other tax attributes that are not currently subject to an IRC Section 382 limitation. The Company's ability to use NOLs and other tax attributes to reduce taxable income and income taxes could be materially impacted by a future IRC 382 ownership change. Future transactions involving the Company's stock including those outside of the Company's control could cause an IRC 382 ownership change resulting in a limitation on tax attributes currently not limited and a more restrictive limitation on tax attributes currently subject to the previous IRC 382 limitation. As of December 31, 2023, the Company had approximately $1.6 billion of federal NOL carryforwards, net of NOLs expected to expire unused due to the 2016 IRC Section 382 limitation. Of the $1.6 billion of federal NOL carryforwards, $0.7 billion expire during the years 2025 through 2037, while $0.9 billion do not have an expiration date. In addition, the Company had approximately $1.1 billion of state NOL carryforwards, net of NOLs expected to expire unused due to the 2016 IRC Section 382 limitation. Of the $1.1 billion in state NOL carryforwards, approximately $199 million are derived from states the Company currently does not operate in. Of the remaining state NOL carryforwards, $651 million do not have an expiration date and $237 million expire during the years 2026 through 2037. Additionally, the Company had federal tax credits in excess of $33.5 million which begin expiring in 2029. The Company did not have any unrecognized tax benefits at December 31, 2023, 2022 or 2021. three

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Equity	Equity Capital Stock and Equity Awards. Our authorized capital stock consists of 300 million shares, which include 250 million shares of common stock, $0.001 par value per share and 50 million shares of preferred stock, par value $0.001 per share. At December 31, 2023, the Company had 37.1 million shares of common stock issued and outstanding, including 0.1 million of shares of unvested restricted stock awards. The Company also has 0.1 million restricted stock units, an immaterial amount of performance share units and 0.2 million stock options outstanding at December 31, 2023 as discussed further in Note 15. At December 31, 2022, the Company had 36.9 million shares of common stock issued and outstanding, including an immaterial amount of shares of unvested restricted stock awards. The Company also has 0.3 million restricted stock units, an immaterial amount of performance share units and 0.2 million stock options outstanding at December 31, 2022 as discussed further in Note 15. Warrants. Since the fourth quarter of 2016, the Company issued approximately 4.9 million Series A warrants and 2.1 million Series B warrants to certain holders of general unsecured claims as defined in the 2016 bankruptcy reorganization plan. These warrants were exercisable until October 4, 2022 for one share of common stock per warrant at initial exercise prices of $41.34 and $42.03 per share, respectively, subject to adjustments pursuant to the terms of the warrants. The warrants contained customary anti-dilution adjustments in the event of any stock split, reverse stock split, reclassification, stock dividend or other distributions. During the year ended December 31, 2022, warrant holders exercised 103 Series A warrants and 44 Series B warrants for 147 shares of common stock. Upon expiration, the remaining 4.9 million Series A warrants and 2.1 million Series B warrants were cancelled and the carrying value was transferred to Additional paid-in capital in the accompanying consolidated balance sheets. Share Repurchase Program. In May 2023, the Company's Board of Directors (the “Board”) approved a share repurchase program (the “Program”) authorizing the Company to repurchase up to an aggregate of $75.0 million of the Company’s outstanding common stock with the Company’s cash on hand. The Program replaced the prior share repurchase program previously approved by the Board in August 2021 of $25.0 million. Purchases under the Program are intended to meet the requirements of Rule 10b5-1 of the Exchange Act. The Program does not require any specific number of shares to be acquired, can be modified or discontinued by the Board at any time and does not have an expiration date. The Company did not repurchase any common stock under the Program or the prior share repurchase program during the year ended December 31, 2023. Dividends . In May 2023, the Board approved a one-time cash dividend of $2.00 per share of the Company’s common stock, which was paid on June 7, 2023 to shareholders of record as of the close of business on May 24, 2023. The aggregate total payout was $73.8 million. Additionally, in May 2023, the Board announced plans for a regular quarterly dividend of $0.10 per share, subject to quarterly approval by the Board. In August 2023, the Board declared a cash dividend of $0.10 per share of the Company’s common stock, which was paid on August 28, 2023 to shareholders of record as of the close of business on August 14, 2023. The aggregate total payout was $3.7 million. On November 2, 2023, the Board declared a cash dividend of $0.10 per share of the Company’s common stock, which was paid on November 27, 2023 to shareholders of record as of the close of business on November 13, 2023. The aggregate total payout was $3.7 million. In addition to the quarterly dividend payments, the Company paid $0.3 million in cash dividends on vested stock awards during the year ended December 31, 2023. Dividend payments for the year ended December 31, 2023 totaled $81.5 million. The Tax Benefits Preservation Plan . On July 1, 2020, the Board declared a dividend distribution of one right (a “Right”) for each outstanding share of Company common stock, par value $0.001 per share to stockholders of record at the close of business on July 13, 2020. Each Right entitles its holder, under certain circumstances, to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock of the Company, par value $0.001 per share, at an exercise price of $5.00 per Right, subject to adjustment. The description and terms of the Rights are set forth in the tax benefits preservation plan, dated as of July 1, 2020, between the Company and American Stock Transfer & Trust Company, LLC, as rights agent (and any successor rights agent, the “Rights Agent”). The Company adopted the Tax Benefits Preservation Plan, as amended on March 16, 2021, in order to protect shareholder value against a possible limitation on the Company’s ability to use its tax net operating losses (the “NOLs”) and certain other tax benefits to reduce potential future U.S. federal income tax obligations. The NOLs are a valuable asset to the Company, which may inure to the benefit of the Company and its stockholders. However, if the Company experiences an “ownership change,” as defined in Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), its ability to fully utilize the NOLs and certain other tax benefits will be substantially limited and the timing of the usage of the NOLs and such other benefits could be substantially delayed, which could significantly impair the value of those assets. Generally, an “ownership change” occurs if the percentage of the Company’s stock owned by one or more of its “five-percent shareholders” (as such term is defined in Section 382 of the Code) increases by more than 50 percentage points over the lowest percentage of stock owned by such stockholder or stockholders at any time over a three-year period. The Tax Benefits Preservation Plan is intended to prevent against such an “ownership change” by deterring any person or group from acquiring beneficial ownership of 4.9% or more of the Company’s securities. Subject to certain exceptions, the Rights become exercisable and trade separately from Common Stock only upon the “Distribution Time,” which occurs upon the earlier of: • the close of business on the tenth (10th) day after the “Stock Acquisition Date,” which is (a) the first date of public announcement that a person or group of affiliated or associated persons (with certain exceptions, an “Acquiring Person”) has acquired, or obtained the right or obligation to acquire, beneficial ownership of 4.9% or more of the outstanding shares of Common Stock (with certain exceptions) or (b) such other date, as determined by the Board, on which a person or group has become an Acquiring Person, or • the close of business on the tenth (10th) business day (or later date as may be determined by the Board prior to such time as any person or group becomes an Acquiring Person) following the commencement of a tender offer or exchange offer which, if consummated, would result in a person or group becoming an Acquiring Person. Any existing stockholder or group that beneficially owns 4.9% or more of Common Stock has been grandfathered at its current ownership level, but the Rights will not be exercisable if, at any time after the announcement of the Tax Benefits Preservation Plan, such stockholder or group increases its ownership of Common Stock by one share of Common Stock. Certain synthetic interests in securities created by derivative positions, whether or not such interests are considered to be ownership of the underlying Common Stock or are reportable for purposes of Regulation 13D of the Securities Exchange Act of 1934, as amended, are treated as beneficial ownership of the number of shares of Common Stock equivalent to the economic exposure created by the derivative position, to the extent actual shares of Common Stock are directly or indirectly held by counterparties to the derivatives contracts. Until the earlier of the Distribution Time and the Expiration Time, the surrender for transfer of any shares of Common Stock will also constitute the transfer of the Rights associated with those shares. As soon as practicable after the Distribution Time, separate rights certificates will be mailed to holders of record of Common Stock as of the close of business on the Distribution Time. From and after the Distribution Time, the separate rights certificates alone will represent the Rights. Except as otherwise provided in the Tax Benefits Preservation Plan, only shares of Common Stock issued prior to the Distribution Time will be issued with Rights. The Rights are not exercisable until the Distribution Time. The Tax Benefits Preservation Plan was approved at the 2021 annual meeting of stockholders on May 25, 2021. On June 14, 2023, our Board of Directors approved an amendment to the Tax Benefits Preservation Plan to extend the expiration time of the Tax Benefits Preservation Plan from July 1, 2023 to July 1, 2026. The Company will submit this amendment to the Company’s stockholders for approval at our 2024 Annual Meeting. In the event that any person or group (other than certain exempt persons) becomes an Acquiring Person (a “Flip-in Event”), each holder of a Right (other than any Acquiring Person and certain related parties, whose Rights automatically become null and void) will have the right to receive, upon exercise, shares of Common Stock having a value equal to two times the exercise price of the Right. In the event that, at any time following the Stock Acquisition Date, any of the following occurs (each, a “Flip-over Event”): • the Company consolidates with, or merges with and into, any other entity, and the Company is not the continuing or surviving entity • any entity engages in a share exchange with or consolidates with, or merges with or into, the Company, and the Company is the continuing or surviving entity and, in connection with such share exchange, consolidation or merger, all or part of the outstanding shares of Common Stock are changed into or exchanged for stock or other securities of any other entity or cash or any other property; or • the Company sells or otherwise transfers, in one transaction or a series of related transactions, fifty percent (50%) or more of the Company’s assets, cash flow or earning power, each holder of a Right (except Rights which previously have been voided as described above) will have the right to receive, upon exercise, common stock of the acquiring company having a value equal to two times the exercise price of the Right. Shares Withheld for Taxes. The following table shows the number of shares withheld for taxes and the associated value of those shares. These shares were accounted for as treasury stock when withheld, and then immediately retired. Year Ended December 31, 2023 2022 2021 (In thousands) Number of shares withheld for taxes 59 66 192 Value of shares withheld for taxes $ 929 $ 1,177 $ 899

Revenues

Revenues	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table disaggregates the Company’s revenue by source for the years ended December 31, 2023, 2022 and 2021 (in thousands): Year Ended December 31, 2023 2022 2021 Oil $ 78,174 $ 87,528 $ 62,297 Natural gas 34,941 103,067 55,749 NGL 35,526 63,663 50,836 Total revenues $ 148,641 $ 254,258 $ 168,882 Oil, natural gas and NGL revenues. A majority of the Company’s revenues come from sales of oil, natural gas and NGLs. In accordance with the contracts governing these sales, performance obligations to customers are satisfied and revenues are recorded at a point in time when control of the oil, natural gas and NGL production passes to the customer at the inlet of the processing plant or pipeline, or the delivery point for onloading to a delivery truck. As the Company’s customers obtain control of the production prior to selling it to other end customers, the Company presents its revenues on a net basis, rather than on a gross basis. Pricing for the Company’s oil, natural gas and NGL contracts is variable and is based on volumes sold multiplied by either an index price, net of deductions, or a percentage of the sales price obtained by the customer, which is also based on index prices. The transaction price is allocated on a pro-rata basis to each unit of oil, natural gas or NGL sold based on the terms of the contract. Oil, natural gas and NGL revenues are also recorded net of royalties, discounts and allowances, and transportation costs, as applicable. Taxes assessed by governmental authorities on oil, natural gas and NGL sales are presented separately from revenues and are included in production, ad valorem, and other taxes expense in the consolidated statements of operations. Revenues Receivable. The Company records an asset in accounts receivable, net on its consolidated balance sheet for revenues receivable from contracts with customers at the end of each period. Pricing for revenues receivable is estimated using current month crude oil, natural gas and NGL prices, net of deductions. Revenues receivable on operated properties are typically collected the month after the Company delivers the related production to its customers. As of December 31, 2023 and 2022, the Company had revenues receivable of $14.5 million and $21.8 million, respectively, and we did not record any credit losses on revenue receivable as of December 31, 2023 , 2022 and 2021. As of December 31, 2023, two purchasers accounted for approximately 72.3% of our revenues receivable.

Share Based Compensation

Share Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Share-Based Compensation Omnibus Incentive Plan. The Omnibus Incentive Plan became effective on October 4, 2016 and authorizes the issuance of up to 4.6 million shares of SandRidge common stock. Persons eligible to receive awards under the Omnibus Incentive Plan include non-employee directors of the Company, employees of the Company or any of its affiliates, and certain consultants and advisors to the Company or any of its affiliates. The types of awards that may be granted under the Omnibus Incentive Plan include stock options, restricted stock, performance awards and other forms of awards granted or denominated in shares of common stock, as well as certain cash-based awards. At December 31, 2023, the Company had restricted stock awards, restricted stock units, performance share units and stock options outstanding under the Omnibus Incentive Plan. Forfeitures for these awards are recognized as they occur. Restricted Stock Awards. The Company’s restricted stock awards are equity-classified awards and are valued based upon the market value of the Company’s common stock on the date of grant. Outstanding restricted shares at December 31, 2023 will generally vest over either a one-year period or three-year period with a remaining weighted average contractual period of 0.45 years and have $0.3 million of associated unrecognized compensation cost. The following table presents a summary of the Company’s unvested restricted stock awards: Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Unvested restricted shares outstanding at January 1, 2021 114 $ 3.26 Granted 56 $ 5.26 Vested (111) $ 2.99 Forfeited / Canceled (2) $ 16.25 Unvested restricted shares outstanding at December 31, 2021 57 $ 5.26 Granted 18 $ 18.93 Vested (57) $ 5.26 Forfeited / Canceled — $ — Unvested restricted shares outstanding at December 31, 2022 18 $ 18.93 Granted 54 $ 13.85 Vested (1) (18) $ 18.93 Forfeited / Canceled — $ — Unvested restricted shares outstanding at December 31, 2023 54 $ 13.85 ____________________ (1) The aggregate intrinsic value of restricted stock that vested during 2023 was approximately $0.3 million based on the stock price at the time of vesting. Restricted Stock Units. The Company’s restricted stock units awards are equity-classified awards and are valued based upon the market value of the Company’s common stock on the date of grant. Outstanding restricted stock units at December 31, 2023 will generally vest over a three-year period with a remaining weighted average contractual period of 2.13 years and have $1.3 million associated unrecognized compensation cost at December 31, 2023. The following table presents a summary of the Company’s unvested restricted stock units: Number of Weighted- Average Grant Date Fair Value (In thousands) Unvested restricted stock units outstanding at January 1, 2021 1,410 $ 1.10 Granted 178 $ 7.58 Vested (477) $ 1.14 Forfeited / Canceled (705) $ 0.94 Unvested restricted stock units outstanding at December 31, 2021 406 $ 4.18 Granted 39 $ 13.51 Vested (175) $ 3.61 Forfeited / Canceled (18) $ 5.51 Unvested restricted stock units outstanding at December 31, 2022 252 $ 5.93 Granted 79 $ 15.13 Vested (1) (175) $ 4.33 Forfeited / Canceled (18) $ 11.50 Unvested restricted stock units outstanding at December 31, 2023 138 $ 12.51 ____________________ (1) The aggregate intrinsic value of restricted stock units that vested during 2023 was approximately $2.8 million based on the stock price at the time of vesting. Performance Share Units. The Company’s performance share units awards are equity-classified awards and are valued based upon the market value of the Company’s common stock on the date of grant. Outstanding performance share units at December 31, 2023 will generally vest over a one year period with a remaining weighted average contractual period of 0.26 years and an $0.1 million amount of unrecognized compensation cost at December 31, 2023. The following table presents a summary of the Company's performance share units: Number of Weighted- Average Grant Date Fair Value (In thousands) Unvested performance share units outstanding at January 1, 2021 205 $ 1.66 Granted 39 $ 5.01 Vested (197) $ 1.70 Forfeited / Canceled (13) $ 2.38 Unvested performance share units outstanding at December 31, 2021 34 $ 5.01 Granted 19 $ 13.51 Vested (34) $ 5.01 Forfeited / Canceled (2) $ 13.51 Unvested performance share units outstanding at December 31, 2022 17 $ 13.51 Granted 19 $ 15.31 Vested (1) (17) $ 13.51 Forfeited / Canceled (3) $ 15.31 Unvested performance share units outstanding at December 31, 2023 16 $ 15.31 ____________________ (1) The aggregate intrinsic value of performance share units that vested during 2023 was approximately $0.2 million. Stock Options The fair value of stock options is estimated on the date of the grant using a Black-Scholes valuation model that uses the weighted average assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s common stock and other factors. The Company uses historical data on the exercise of stock options, post-vesting forfeitures and other factors to estimate the expected term of the stock-based payments granted. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Generally, stock options granted to employees and directors vest ratably over three years from the grant date and expire seven years from the date of grant. There were no stock options granted during the years ended December 31, 2023 or 2022. Assumptions For the Year Ended December 31, 2021 Risk-free interest rate 0.79 % Expected dividend yield — % Expected volatility 78.2 % Expected term 5 years The following table presents a summary of the Company's stock option activity for the years ended December 31, 2023, 2022 and 2021: Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term(years) Aggregate Intrinsic Value (in millions) (In thousands) Outstanding at January 1, 2021 91 $ — 2.68 $ 0.24 Granted 250 — — — Exercised (9) 6.43 Expired (1) — Forfeited / Canceled (7) — — — Outstanding at December 31, 2021 324 $ — 7.80 $ 0.80 Exercisable at December 31, 2021 24 $ — 1.59 $ 0.19 Outstanding at December 31, 2021 324 $ — 7.80 $ 0.80 Granted — — — — Exercised (31) $ 17.53 — — Expired — — — — Forfeited / Canceled (7) — — — Outstanding at December 31, 2022 286 $ — 7.64 $ 2.38 Exercisable at December 31, 2022 68 $ — 6.49 $ 0.64 Outstanding at December 31, 2022 286 $ — 7.64 $ 2.38 Granted — — — — Exercised (36) $ 15.68 — — Expired — — — Forfeited / Canceled — — — — Outstanding at December 31, 2023 (1) 250 $ — 7.66 $ 1.02 Exercisable at December 31, 2023 100 $ — 7.66 $ 0.41 ____________________ (1) All outstanding stock options as of December 31, 2023 are expected to vest. In August 2021, the Company granted nonqualified stock options. As of December 31, 2023, the total unrecognized compensation expense was $0.8 million and will be recognized over a weighted average period of 2.65 years. The Company issues new shares upon stock option exercises. The following tables summarize the Company's share and incentive-based compensation for the years ended December 31, 2023, 2022 and 2021 (in thousands): Recurring Compensation Expense (1) Reduction in Force (2) Total Year Ended December 31, 2023 Equity-classified awards: Restricted stock awards and units $ 1,415 $ — $ 1,415 Performance share units 229 — 229 Stock options 301 — 301 Total share-based compensation expense 1,945 — 1,945 Year Ended December 31, 2022 Equity-classified awards: Restricted stock awards and units $ 997 $ — $ 997 Performance share units 215 — 215 Stock options 314 — 314 Total share-based compensation expense 1,526 — 1,526 Year Ended December 31, 2021 Equity-classified awards: Restricted stock awards and units $ 773 $ 11 $ 784 Performance share units 476 6 482 Stock options 128 — 128 Total share-based compensation expense 1,377 17 1,394 ____________________ (1) Recorded in general and administrative expense in the accompanying consolidated statements of operations. (2) Recorded in employee termination benefits in the accompanying consolidated statements of operations.

Incentive and Deferred Compensa

Incentive and Deferred Compensation Plans	12 Months Ended
	Dec. 31, 2023
Compensation Related Costs [Abstract]
Incentive and Deferred Compensation Plans	Incentive and Deferred Compensation Plans Annual Incentive Plan. The Annual Incentive Plan ("AIP") incorporates quantitative performance measures, strategic qualitative goals and competitive target award levels for management and employees for the 2023 and 2022 performance years. Incentive bonus awards for 2023 will be provided based on performance measures related to health, safety and environment, production, operating expenses, capital expenditures, general and administrative expenses, among other metrics and will be paid in 2024 at the discretion of the Board of Directors. As of December 31, 2023 and 2022, the Company accrued approximately $2.2 million and $1.5 million, respectively for AIP. AIP Payments totaling $1.5 million were paid in 2023 for the 2022 performance year and $2.1 million were paid in 2022 for the 2021 performance year. 401(k) Plan. The Company maintains a 401(k) retirement plan for its employees. Under this plan, eligible employees may elect to defer a portion of their earnings up to the maximum allowed by the IRS. For the years ended December 31, 2023, 2022 and 2021, the Company made matching contributions to the plan equal to 100% on the first 10% of employee deferred wages, excluding incentive compensation, totaling $0.8 million for each year. Participants in the plan are immediately 100% vested in the discretionary employee contributions and related earnings on those contributions. The Company's matching contributions and related earnings vest based on years of service, with full vesting occurring on the four

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings (loss) per share: Net Earnings (Loss) Weighted Average Shares Earnings (Loss) Per Share (In thousands, except per share amounts) Year Ended December 31, 2023 Basic earnings per share $ 60,857 36,939 $ 1.65 Effect of dilutive securities Restricted stock awards (1) — 19 Restricted share units (1) — 120 Performance share units (1) — 13 Stock Options (1) — 43 Diluted earnings per share $ 60,857 37,134 $ 1.64 Year Ended December 31, 2022 Basic earnings per share $ 242,168 36,745 $ 6.59 Effect of dilutive securities Restricted stock awards (1) — 20 Restricted share units (1) — 285 Performance share units (1) — 20 Stock Options (1) — 84 Diluted earnings per share $ 242,168 37,154 $ 6.52 Year Ended December 31, 2021 Basic earnings per share $ 116,738 36,393 $ 3.21 Effect of dilutive securities Restricted stock awards (1) — 58 Restricted share units (1) — 689 Performance share units (1) — 83 Stock Options (1) — 48 Diluted earnings per share $ 116,738 37,271 $ 3.13 ____________________ (1) The incremental shares of potentially dilutive restricted stock awards, restricted stock units, performance share units and stock options were included for the years ended December 31, 2023, 2022 and 2021 as their effect was dilutive under the treasury stock method. See Note 15 for discussion of the Company’s share-based compensation awards.

Supplemental Information on Oil

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited)	12 Months Ended
	Dec. 31, 2023
Extractive Industries [Abstract]
Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited)	Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) The supplemental information below includes capitalized costs related to oil and natural gas producing activities; costs incurred in oil and natural gas property acquisition, exploration and development; and the results of operations for oil and natural gas producing activities. Supplemental information is also provided for oil, natural gas and NGL production and average sales prices; the estimated quantities of proved oil, natural gas and NGL reserves; the standardized measure of discounted future net cash flows associated with proved oil, natural gas and NGL reserves; and a summary of the changes in the standardized measure of discounted future net cash flows associated with proved oil, natural gas and NGL reserves. Capitalized Costs Related to Oil and Natural Gas Producing Activities The Company’s capitalized costs for oil and natural gas activities consisted of the following (in thousands): December 31, 2023 2022 Oil and natural gas properties Proved $ 1,538,724 $ 1,507,690 Unproved 11,197 11,516 Total oil and natural gas properties 1,549,921 1,519,206 Less accumulated depreciation, depletion and impairment (1,393,801) (1,380,574) Net oil and natural gas properties capitalized costs $ 156,120 $ 138,632 Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Costs incurred in oil and natural gas property acquisition, exploration and development activities which have been capitalized are summarized as follows (in thousands): Year Ended December 31, 2023 2022 2021 Acquisitions of properties Proved $ 11,232 $ 1,431 $ 3,545 Unproved — — — Exploration (1) (46) 809 905 Development 22,478 48,399 10,045 Total cost incurred $ 33,664 $ 50,639 $ 14,495 ____________________ (1) Includes land, geological, geophysical and leasehold costs. Results of Operations for Oil and Natural Gas Producing Activities The following table presents the Company’s results of operations from oil and natural gas producing activities (in thousands), which exclude any interest costs or indirect general and administrative costs and, therefore, are not necessarily indicative of the impact the Company’s operations have on actual net earnings. Year Ended December 31, 2023 2022 2021 Revenues $ 148,641 $ 254,258 $ 168,882 Expenses Production costs 53,099 57,221 46,309 Depreciation and depletion 15,657 11,542 9,372 Total expenses 68,756 68,763 55,681 Income (loss) before income taxes 79,885 185,495 113,201 Income tax expense (benefit) (1) 19,374 45,055 26,734 Results of operations for oil and natural gas producing activities (excluding corporate overhead and interest costs) $ 60,511 $ 140,440 $ 86,467 ____________________ (1) Income tax (benefit) expense is hypothetical and is calculated by applying the Company’s statutory tax rate to (loss) income before income taxes attributable to our oil and natural gas producing activities, after giving effect to permanent differences and tax credits. Oil, Natural Gas and NGL Reserve Quantities Proved oil, natural gas and NGL reserves are those quantities, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible, based on oil, natural gas and NGL prices used to estimate reserves, from a given date forward from known reservoirs, and under existing economic conditions, operating methods, and government regulation prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain. The term “reasonable certainty” implies a high degree of confidence that the quantities of oil, natural gas and NGLs actually recovered will equal or exceed the estimate. To achieve reasonable certainty, the Company’s engineers and independent petroleum consultants relied on technologies that have been demonstrated to yield results with consistency and repeatability. The technologies and economic data used to estimate the Company’s proved reserves include, but are not limited to, well logs, geologic maps, seismic data, well test data, production data, historical price and cost information and property ownership interests. The accuracy of the reserve estimates is dependent on many factors, including the following: • the quality and quantity of available data and the engineering and geological interpretation of that data; • estimates regarding the amount and timing of future costs, which could vary considerably from actual costs; • the accuracy of mandated economic assumptions; and • the judgment of the personnel preparing the estimates. Proved developed reserves are proved reserves expected to be recovered through existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared with the cost of a new well. Proved undeveloped reserves are reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively large major expenditure is required for recompletion. Approximately 95% of the Company’s proved reserves estimates have been prepared by independent reservoir engineers and geoscience professionals and the remaining 5% of proved reserves are estimated internally and are reviewed by members of the Company’s senior management to ensure that the Company consistently applies rigorous professional standards and the reserve definitions prescribed by the SEC. Cawley, Gillespie & Associates, independent oil and natural gas consultants, prepared the estimates of proved reserves of oil, natural gas and NGLs for approximately 95% of the Company’s net interest in oil and natural gas properties as of the years ended December 31, 2023 and 2022. Cawley, Gillespie & Associates are independent petroleum engineers, geologists, geophysicists and petrophysicists and do not own an interest in the Company or its properties and are not employed on a contingent basis. The remaining proved reserves were based on Company estimates. The Company believes the geoscience and engineering data examined provides reasonable assurance that the proved reserves are economically producible in future years from known reservoirs, and under recent, past or historical economic conditions, operating methods and governmental regulations. Estimates of proved reserves are subject to change, either positively or negatively, as additional information is available and contractual and economic conditions change. 2023 Activity . Proved reserves decreased from 74.3 MMBoe at December 31, 2022 to 55.7 MMBoe at December 31, 2023, primarily due to a decrease in year-end SEC commodity prices for oil and natural gas, price realizations and NGL yield which resulted in a decrease of 17.5 MMBoe, as well as 6.2 MMBoe from the Company's production during 2023, 1.4 MMBoe attributable to well shut-ins and other revisions, and 0.1 MMBoe in sales. The Company also had positive revisions including purchases of 1.8 MMBoe, extensions of 1.2 MMBoe, 1.9 MMBoe associated with well positive performance revisions, and 1.7 MMBoe associated with other commercial improvements. 2022 Activity . Proved reserves increased from 71.3 MMBoe at December 31, 2021 to 74.3 MMBoe at December 31, 2022, primarily as a result of positive revisions of 9.1 MMBoe associated with the increase in year-end SEC commodity prices for oil and natural gas, 1.8 MMBoe related to the Company's well reactivation program, and 1.0 MMBoe associated with other commercial improvements. Further, extensions added 1.2 MMBoe and purchases added 0.2 MMBoe of proved reserves. These increases were offset by 2022 production totaling 6.5 MMBoe, a decrease of 1.0 MMBoe due to higher operating expenses in the trailing twelve month period used in the projections, and a decrease of 2.8 MMBoe attributable to other revisions. 2021 Activity . Proved reserves increased from 36.9 MMBoe at December 31, 2020 to 71.3 MMBoe at December 31, 2021, primarily as a result of positive revisions of 27.3 MMBoe associated with the increase in year-end SEC commodity prices for oil and natural gas, 13.6 MMBoe associated with reduction in expenses and other commercial improvements, 3.7 MMBoe related to a well reactivation program, and purchases of 1.4 MMBoe of proved reserves. The Company also recorded 2021 production totaling 6.8 MMBoe and a decrease of 3.6 MMBoe due to sales and 1.2 MMBoe attributable to well shut-ins, and other revisions. The summary below presents changes in the Company’s estimated reserves. NPB is included in 2021 and 2020. Oil NGL Natural Gas Total (MBbls) (MBbls) (MMcf) (1) MBoe Proved developed and undeveloped reserves As of December 31, 2020 8,485 11,245 102,893 36,879 Revisions of previous estimates (2) 3,627 14,924 148,736 43,340 Acquisitions of new reserves 135 438 5,235 1,446 Sales of reserves in place (3,440) (28) (716) (3,587) Production (957) (2,266) (21,417) (6,793) As of December 31, 2021 7,850 24,313 234,731 71,285 Revisions of previous estimates (2) 971 2,825 25,841 8,102 Acquisitions of new reserves 39 65 528 192 Extensions and discoveries 510 227 2,823 1,208 Production (949) (1,997) (21,101) (6,463) As of December 31, 2022 8,421 25,433 242,822 74,324 Revisions of previous estimates (2) (1,027) (8,200) (36,464) (15,304) Acquisitions of new reserves 453 379 5,474 1,745 Extensions and discoveries 283 357 3,431 1,211 Sales of reserves in place (26) (49) (427) (147) Production (1,047) (1,705) (20,403) (6,152) As of December 31, 2023 7,057 16,215 194,433 55,677 Proved developed reserves As of December 31, 2020 8,485 11,245 102,893 36,879 As of December 31, 2021 7,850 24,313 234,731 71,285 As of December 31, 2022 8,421 25,433 242,822 74,324 As of December 31, 2023 7,057 16,215 194,433 55,677 Proved undeveloped reserves As of December 31, 2020 — — — — As of December 31, 2021 — — — — As of December 31, 2022 — — — — As of December 31, 2023 — — — — Totals may not sum or recalculate due to rounding _________________ (1) Natural gas reserves are computed at 14.65 pounds per square inch absolute and 60 degrees Fahrenheit. (2) Revisions include changes due to commodity prices, production costs, previous quantity estimates, and other commercial factors. Primary factor for revisions in years ended 2023, 2022 and 2021 were changes in SEC prices, among other factors. See Proved Reserves discussion in Part I, Item 1 of this Form 10-K for additional detail. Standardized Measure of Discounted Future Net Cash Flows (Unaudited) The standardized measure of discounted cash flows and summary of the changes in the standardized measure computation from year to year are prepared in accordance with ASC Topic 932, Extractive Activities—Oil and Gas, ("ASC Topic 932"). The assumptions underlying the computation of the standardized measure of discounted cash flows may be summarized as follows: • the standardized measure includes the Company’s estimate of proved oil, natural gas and NGL reserves and projected future production volumes based upon economic conditions; • pricing is applied based upon SEC prices at December 31, 2023, 2022 and 2021, adjusted for fixed or determinable contracts that are in existence at year-end. The calculated weighted average per unit prices for the Company’s proved reserves and future net revenues were as follows: At December 31, 2023 2022 2021 Oil (per Bbl) $ 76.65 $ 93.73 $ 64.95 Natural gas (per Mcf) $ 1.62 $ 4.76 $ 2.56 NGL (per Bbl) $ 21.53 $ 33.42 $ 19.26 • future development and production costs are determined based on trailing 12 month average cost at year-end; • the standardized measure includes projections of future abandonment costs based upon actual costs at year-end; and • a discount factor of 10% per year is applied annually to the future net cash flows. The summary below presents the Company’s future net cash flows relating to proved oil, natural gas and NGL reserves based on the standardized measure in ASC Topic 932 (in thousands). December 31, 2023 2022 2021 Future cash inflows from production $ 1,204,568 $ 2,795,762 $ 1,579,734 Future production costs (1) (627,715) (1,131,145) (735,904) Future development costs (2) (39,288) (36,730) (66,732) Future income tax expenses (3) — (17,780) — Undiscounted future net cash flows 537,565 1,610,107 777,098 10% annual discount (241,272) (803,242) (344,184) Standardized measure of discounted future net cash flows $ 296,293 $ 806,865 $ 432,914 ____________________ (1) Consists of severance taxes, ad valorem taxes, and lease operating expenses. (2) Includes abandonment costs. (3) The future income tax expenses have been computed using statutory tax rates, giving effect to allowable tax deductions and tax credits under current laws, including expected tax benefits to be realized from the utilization of net operating loss carryforwards. The following table represents the Company’s estimate of changes in the standardized measure of discounted future net cash flows from proved reserves (in thousands): Year Ended December 31, 2023 2022 2021 Beginning present value $ 806,865 $ 432,914 $ 104,986 Changes during the year Revenues less production (95,909) (197,419) (122,964) Net changes in prices, production and other costs (372,897) 465,116 380,026 Development costs incurred 645 846 83 Net changes in future development costs (1,307) 3,028 446 Extensions and discoveries 18,422 36,984 — Revisions of previous quantity estimates (1) (171,758) 98,579 112,926 Accretion of discount 81,066 34,138 6,016 Net change in income taxes 3,798 (3,798) — Purchases of reserves in-place 14,450 3,039 15,541 Sales of reserves in-place (1,394) — (29,792) Timing differences and other (2) 14,312 (66,562) (34,354) Net change for the year (510,572) 373,951 327,928 Ending present value (3) $ 296,293 $ 806,865 $ 432,914 ____________________ (1) A significant portion of the revisions of previous quantity estimates is related to the decrease in pricing which affects well life and other economic factors. Performance revisions were positive. See Proved Reserves discussion. (2) The change in timing differences and other are related to revisions in the Company's estimated time of production and development. (3) Standardized Measure was determined using SEC prices, and does not reflect actual prices received or current market prices.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In January 2024, the Board approved a one-time cash dividend of $1.50 per share of the Company's common stock, which was paid on February 20, 2024 to shareholders of record as of the close of business on February 5, 2024. The aggregate total payout was approximately $55.6 million. Additionally, in January 2024, the Board announced that it plans to increase its on-going quarterly dividend to $0.11 per share starting with the next quarterly payout, estimated to be first paid in March 2024, continuing every quarter thereafter until noticed, subject to quarterly approval by the Board.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (loss)	$ 60,857	$ 242,168	$ 116,738

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business. SandRidge Energy, Inc. is an oil and natural gas acquisition, development and production company headquartered in Oklahoma City, Oklahoma with a principal focus on developing and producing hydrocarbon resources in the United States.
Principles of Consolidation	Principles of Consolidation.
Use of Estimates	Use of Estimates. The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and NGL reserves; impairment tests of long-lived assets; the carrying value of unproved oil and natural gas properties; depreciation, depletion and amortization; asset retirement obligations; determinations of significant alterations to the full cost pool and related estimates of fair value used to allocate the full cost pool net book value to divested properties, as necessary; valuation allowances for deferred tax assets; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. Although management believes these estimates are reasonable, actual results could differ significantly from those estimates.
Going Concern Consideration	Going Concern Consideration. The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
Cash and Cash Equivalents	Cash and Cash Equivalents.
Restricted Cash	Restricted Cash.
Accounts Receivable, Net	Accounts Receivable, Net. The Company has receivables for sales of oil, natural gas and NGLs, as well as receivables related to the drilling, completion, and production of oil and natural gas, which have a contractual maturity of one year or less. An allowance for expected credit losses has been established based on management’s review of the collectability of the receivables in light of historical experience, the nature and volume of the receivables and other subjective factors. Accounts receivable are charged against the allowance, upon approval by management, when they are deemed uncollectible. Refer to Note 5 for further information on the Company’s accounts receivable and allowance for expected credit losses.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. Certain of the Company’s financial assets and liabilities are measured at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company’s financial instruments, not otherwise recorded at fair value, consist primarily of cash, restricted cash, prepaid expenses, trade receivables, and trade payables and accrued expenses. The carrying values of cash, restricted cash, trade receivables, trade payables and accrued expenses are considered to reflect fair values due to the short-term maturity of these instruments. See Note 4 for further discussion of the Company’s fair value measurements.
Fair Value of Non-financial Assets and Liabilities	Fair Value of Non-financial Assets and Liabilities. The Company also applies fair value accounting guidance to initially, or as events dictate, measure non-financial assets and liabilities such as those obtained through business acquisitions, property, plant and equipment and asset retirement obligations. These assets and liabilities are subject to fair value adjustments only in certain circumstances and are not subject to recurring revaluations. Fair value may be estimated using comparable market data, a discounted cash flow method, or a combination of the two as considered appropriate based on the circumstances.
Derivative Financial Instruments	Derivative Financial Instruments. The Company enters into oil and natural gas derivative contracts to manage risks related to fluctuations in prices of its expected oil and natural gas production. The Company considers current and anticipated market conditions, planned capital expenditures, and any debt service requirements when determining whether to enter into oil and gas derivative contracts. The Company may also, from time to time, enter into interest rate swaps in order to manage risk associated with its exposure to variable interest rates. The Company recognizes its derivative instruments as either assets or liabilities at fair value with changes in fair value recognized in earnings unless designated as a hedging instrument. The Company has elected not to designate price risk management activities as accounting hedges under applicable accounting guidance. The Company nets derivative assets and liabilities whenever it has a legally enforceable master netting agreement with the counterparty to a derivative contract. The related cash flow impact of the Company’s derivative activities are reflected as cash flows from operating activities unless the derivative contract contains a significant financing element, in which case, cash settlements are classified as cash flows from financing activities in the consolidated statements of cash flows. See Note 6 for further discussion of the Company’s derivatives.
Oil and Natural Gas Operations	Oil and Natural Gas Operations. The Company uses the full cost method to account for its oil and natural gas properties. Under full cost accounting, all costs directly associated with the acquisition, exploration and development of oil, natural gas and NGL reserves are capitalized into a full cost pool. These capitalized costs include costs of unproved properties and internal costs directly related to the Company’s acquisition, development, and exploration activities and capitalized interest. The Company capitalized gross internal costs of $0.2 million, $0.3 million and $0.5 million during the years ended December 31, 2023, 2022 and 2021, respectively. Capitalized costs are amortized using the unit-of-production method. Under this method, depreciation and depletion is computed at the end of each quarter by multiplying total production for the quarter by a depletion rate. The depletion rate is determined by dividing the total unamortized cost base plus future development costs by net equivalent proved reserves at the beginning of the quarter. Costs associated with unproved properties are excluded from the amortizable cost base until it has been determined that proved reserves exist or a lease is impaired. Unproved properties are reviewed at the end of each quarter to determine whether the costs incurred should be reclassified to the full cost pool and amortized. The costs associated with unproved properties are primarily the costs to acquire unproved acreage. All items classified as unproved property are assessed, on an individual basis or as a group if properties are individually insignificant, on a quarterly basis for possible impairment. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and whether the proved reserves can be developed economically. During any period in which these factors indicate an impairment, all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Costs of seismic data are allocated to unproved leaseholds and transferred to the amortization base with the associated leasehold costs on a specific project basis. Under the full cost method of accounting, total capitalized costs of oil and natural gas properties, net of accumulated depreciation, depletion and impairment, less related deferred income taxes and electrical infrastructure costs may not exceed the ceiling limitation. A ceiling limitation calculation is performed at the end of each quarter. If the ceiling limitation is exceeded, a write-down or impairment of the full cost pool is required. A write-down of the carrying value of the full cost pool is a non-cash charge that reduces earnings and impacts stockholders’ equity and typically results in lower depreciation and depletion expense in future periods. Once incurred, a write-down cannot be reversed at a later date. The ceiling limitation calculation is prepared using SEC prices adjusted for basis or location differentials, held constant over the life of the reserves. If applicable, these prices would be further adjusted to include the effects of any fixed price arrangements for the sale of oil and natural gas. Derivative contracts that qualify and are designated as cash flow hedges are included in estimated future cash flows, although the Company historically has not designated any of its derivative contracts as cash flow hedges. The future cash outflows associated with future development or abandonment of wells are included in the computation of the discounted present value of future net revenues for purposes of the ceiling limitation calculation. Sales and abandonments of oil and natural gas properties being amortized are accounted for as adjustments to the full cost pool, with no gain or loss recognized, unless the adjustments would significantly alter the relationship between capitalized costs and proved oil, natural gas and NGL reserves. A significant alteration would not ordinarily be expected to occur upon the sale of reserves involving less than 25% of the proved reserve quantities of a cost center, unless it results in a greater than 10% change to the depletion rate.
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net. Other capitalized costs, including other property and equipment, such as electrical infrastructure assets and buildings, are carried at cost or fair value established on the Emergence Date less applicable depreciation. Renewals and improvements are capitalized while repairs and maintenance are expensed. Depreciation of such property and equipment is computed using the straight-line method over the estimated useful lives of the assets, which range from 7 to 39 years for buildings and 1 to 27 years for the electrical infrastructure assets and other equipment. When property and equipment components are disposed, the cost and the related accumulated depreciation are removed and any resulting gain or loss is reflected in the consolidated statements of operations. Realization of the carrying value of property and equipment is reviewed for possible impairment whenever events or changes in circumstances indicate that estimated future net operating cash flows directly related to the asset or asset group including disposal value is less than the carrying amount of the asset or asset group. Impairment is measured as the excess of the carrying amount of the impaired asset or asset group over its fair value.
Capitalized Interest	Capitalized Interest.
Debt Issuance Costs	Debt Issuance Costs.
Asset Retirement Obligations	Asset Retirement Obligations.
Revenue Recognition and Natural Gas Balancing	Revenue Recognition and Natural Gas Balancing. Sales of oil, natural gas and NGLs are recorded at a point in time when control of the oil, natural gas and NGL production passes to the customer at the inlet of the processing plant or pipeline, or the delivery point for onloading to a delivery truck, net of royalties, discounts and allowances, as applicable. Additionally, the Company deducts transportation costs from oil, natural gas and NGL revenues. Taxes assessed by governmental authorities on oil, natural gas and NGL sales are included in production, ad valorem and other taxes in the consolidated statements of operations. See Note 14 for further information on the Company's accounting policies related to revenues. The Company accounts for natural gas production imbalances using the sales method, which recognizes revenue on all natural gas sold even though the natural gas volumes sold may be more or less than the Company's ownership entitles it to sell. Liabilities are recorded for imbalances greater than the Company’s proportionate share of remaining estimated natural gas reserves. The Company has recorded a liability for natural gas imbalance positions of $1.5 million and $1.4 million at December 31, 2023 and 2022, respectively. The Company includes the gas imbalance positions in other long-term obligations in the consolidated balance sheets. Oil, natural gas and NGL revenues. A majority of the Company’s revenues come from sales of oil, natural gas and NGLs. In accordance with the contracts governing these sales, performance obligations to customers are satisfied and revenues are recorded at a point in time when control of the oil, natural gas and NGL production passes to the customer at the inlet of the processing plant or pipeline, or the delivery point for onloading to a delivery truck. As the Company’s customers obtain control of the production prior to selling it to other end customers, the Company presents its revenues on a net basis, rather than on a gross basis. Pricing for the Company’s oil, natural gas and NGL contracts is variable and is based on volumes sold multiplied by either an index price, net of deductions, or a percentage of the sales price obtained by the customer, which is also based on index prices. The transaction price is allocated on a pro-rata basis to each unit of oil, natural gas or NGL sold based on the terms of the contract. Oil, natural gas and NGL revenues are also recorded net of royalties, discounts and allowances, and transportation costs, as applicable. Taxes assessed by governmental authorities on oil, natural gas and NGL sales are presented separately from revenues and are included in production, ad valorem, and other taxes expense in the consolidated statements of operations. Revenues Receivable. The Company records an asset in accounts receivable, net on its consolidated balance sheet for revenues receivable from contracts with customers at the end of each period. Pricing for revenues receivable is estimated using current month crude oil, natural gas and NGL prices, net of deductions. Revenues receivable on operated properties are typically collected the month after the Company delivers the related production to its customers. As of December 31, 2023 and 2022, the Company had revenues receivable of $14.5 million and $21.8 million, respectively, and we did not record any credit losses on revenue receivable as of December 31, 2023 , 2022 and 2021. As of December 31, 2023, two purchasers accounted for approximately 72.3% of our revenues receivable.
Allocation of Share-Based Compensation	Allocation of Share-Based Compensation. Equity compensation provided to employees directly involved in exploration and development activities is capitalized to the Company’s oil and natural gas properties. Equity compensation not capitalized is recognized in general and administrative expenses, production expenses, and other operating expense in the accompanying consolidated statements of operations.
Restructuring Expenses	Restructuring expenses . Restructuring expenses represent fees and costs associated with our outsourcing and relocation of certain corporate specific functions that are of a non-recurring nature, expenses related to our predecessor company's 2016 bankruptcy, and our exit from North Park Basin in Colorado.
Income Taxes	Income Taxes. Deferred income taxes reflect the net tax effects of temporary differences between the amounts of assets and liabilities reported for financial statement purposes and their tax basis. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. The Company has elected an accounting policy in which interest and penalties on income taxes resulting from the underpayment or late payment of income taxes due to a taxing authority or relating to income tax contingencies are presented as a component of the income tax provision, rather than as interest expense.
Earnings per Share	Earnings per Share. Basic earnings per common share is calculated by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing earnings available to common stockholders by the weighted average number of diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities consist of unvested restricted stock awards and units, performance share units, warrants, and stock options using the treasury method. Under the treasury method, the amount of unrecognized compensation expense related to unvested stock-based compensation grants or the proceeds that would be received if the warrants were exercised are assumed to be used to repurchase shares at the average market price. When a loss exists, all potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share. See Note 17 for the Company’s earnings per share calculation.
Commitments and Contingencies	Commitments and Contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation or other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Environmental expenditures are expensed or capitalized, as appropriate, depending on future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefit are expensed. Environmental liabilities related to future costs are recorded on an undiscounted basis when assessments and/or remediation activities are probable and costs can be reasonably estimated. See Note 11 for discussion of the Company’s commitments and contingencies.
Concentration of Risk	Concentration of Risk. We regularly maintain cash in excess of federally insured limits at financial institutions. Additionally, all of the Company’s commodity derivative transactions have been carried out in the over-the-counter market, which involves the risk that the counterparties may be unable to meet the financial terms of the transactions. The counterparty for all of the Company’s commodity derivative transactions have an “investment grade” credit rating. The Company monitors the credit ratings of its commodity derivative counterparties on an ongoing basis and considers their credit default risk ratings in determining the fair value of its commodity derivative contracts. Historically, the Company’s commodity derivative contracts have been with multiple counterparties to minimize exposure to any individual counterparty. The Company enters into master netting agreements with all of its commodity derivative counterparties, which allows the Company to net its commodity derivative assets and liabilities for like commodities and derivative instruments with the same counterparty. As a result of the netting provisions, the Company’s maximum amount of loss under commodity derivative transactions due to credit risk was limited to the net amounts due from the counterparties under the commodity derivative contracts. The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payment for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. The Company’s joint interest partners are primarily independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the joint interest partners to reimburse the Company could be adversely affected. Purchasers of the Company’s oil, natural gas and NGL production consist primarily of independent marketers, large oil and natural gas companies and gas pipeline companies. The number of available purchasers and markets in the areas where we sell our production reduces the risk that the loss of a single downstream customer would materially affect our sales. We do not have any material commitments to deliver fixed and determinable quantities of oil and natural gas in the future under existing sales contracts or sales agreements. The Company had sales exceeding 10% of total revenues to the following oil and natural gas purchasers (in thousands): Sales % of Revenue December 31, 2023 Plains Marketing, L.P. $ 71,832 48.3 % Targa Pipeline Mid-Continent West OK LLC $ 69,743 46.9 % December 31, 2022 Targa Pipeline Mid-Continent West OK LLC $ 147,902 58.2 % Plains Marketing, L.P. $ 76,342 30.0 % December 31, 2021 Targa Pipeline Mid-Continent West OK LLC $ 91,066 53.9 % Plains Marketing, L.P. $ 51,204 30.3 %
Recent Accounting Pronouncements	Recent Accounting Pronouncements Not Yet Adopted . The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which require greater disaggregation of income tax disclosures. The amendments in this update improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. This update improves the effectiveness and comparability of disclosures by requiring disaggregation by jurisdiction of disclosures of pretax income (or loss) and income tax expense (or benefit). This ASU is to be applied on a prospective basis, with retrospective application permitted. The guidance in this update is effective for fiscal years beginning after December 15, 2024. We are currently evaluating the potential effect of the adoption of this ASU will have on our consolidated financial statements and related disclosures. The FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires entities to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires entities to disclose the title and position of the Chief Operating Decision Maker. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. We expect this ASU to only impact our disclosures with no impact to our consolidated financial statements. The FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, amended by ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. This guidance provides optional practical expedients and exceptions for applying United States Generally Accepted Accounting Principles ("US GAAP") provisions to contracts, hedging relationships, and other transactions that reference LIBOR, or other reference rates expected to be discontinued because of reference rate reform, if certain criteria are met. The guidance in this update was effective upon its issuance. If elected, the guidance is to be applied prospectively through December 31, 2024. We are currently evaluating the effect the potential adoption of this ASU will have on our consolidated financial statements, if any.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedules of Concentration of Risk	The Company had sales exceeding 10% of total revenues to the following oil and natural gas purchasers (in thousands): Sales % of Revenue December 31, 2023 Plains Marketing, L.P. $ 71,832 48.3 % Targa Pipeline Mid-Continent West OK LLC $ 69,743 46.9 % December 31, 2022 Targa Pipeline Mid-Continent West OK LLC $ 147,902 58.2 % Plains Marketing, L.P. $ 76,342 30.0 % December 31, 2021 Targa Pipeline Mid-Continent West OK LLC $ 91,066 53.9 % Plains Marketing, L.P. $ 51,204 30.3 %

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental disclosures to the consolidated statements of cash flows are presented below (in thousands): Year Ended December 31, 2023 2022 2021 Supplemental Disclosure of Cash Flow Information Cash paid for interest, net of amounts capitalized $ (104) $ (215) $ (177) Supplemental Disclosure of Noncash Investing and Financing Activities Capital expenditures for property, plant and equipment in accounts payables and accrued expenses $ 919 $ 6,151 $ 1,029 Right-of-use assets obtained in exchange for financing lease obligations $ 760 $ 713 $ 1,258 Inventory material transfers to oil and natural gas properties $ 1,289 $ — $ — Asset retirement obligation capitalized $ 113 $ 86 $ 18 Asset retirement obligation removed due to divestiture $ (1,413) $ (623) $ (7,662) Asset retirement obligation revisions $ (939) $ 2,656 $ 6,800 Dividend payable $ 263 $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	There were no open commodity derivative contracts as of December 31, 2023. As of December 31, 2022 the following table summarizes the Company’s assets measured at fair value on a recurring basis by the fair value hierarchy (in thousands): December 31, 2022 Fair Value Measurements Netting(1) Assets at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 4,429 $ — $ — $ 4,429 Total $ — $ 4,429 $ — $ — $ 4,429 (1) Represents the impact of netting assets and liabilities with counterparties where the right of offset exists.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Summary of Accounts Receivable	A summary of accounts receivable is as follows (in thousands): December 31, 2023 2022 Oil, natural gas and NGL sales $ 14,545 $ 21,839 Joint interest billing 7,405 11,234 Other 2,243 3,689 Total accounts receivable 24,193 36,762 Less: allowance for expected credit losses (2,027) (2,027) Total accounts receivable, net $ 22,166 $ 34,735
Balance and Activity in Allowance for Expected Credit Losses	The following table presents the balance and activity in the allowance for expected credit losses for the years ended December 31, 2023 and 2022 (in thousands): Year Ended December 31, 2023 2022 Beginning balance $ 2,027 $ 2,027 Additions charged to costs and expenses — — Deductions (1) — — Ending balance $ 2,027 $ 2,027 ____________________ (1) Deductions represent collections of amounts for which an allowance had previously been established.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The following table summarizes derivative activity for the years ended December 31, 2023, 2022 and 2021, (in thousands): Year Ended December 31, 2023 2022 2021 (Gain) loss on derivative contracts $ (1,447) $ (5,975) $ 2,251 Realized settlement gains (losses) on derivative contracts $ 5,876 $ 1,525 $ (2,230)
Schedule of Offsetting Assets	The following tables summarize (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative asset positions as of December 31, 2022 (in thousands): December 31, 2022 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 4,429 $ — $ 4,429 $ — $ 4,429 Total $ 4,429 $ — $ 4,429 $ — $ 4,429
Fair Value of Derivative Contracts	The following table presents the fair value of the Company’s derivative contracts on a net basis with same counterparty netting (in thousands): Type of Contract Balance Sheet Classification December 31, 2022 Natural Gas Current assets - Derivative Contracts $ 4,429 Total net derivative contracts $ 4,429

Leases (Table)

Leases (Table)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Costs	The components of lease costs recognized for the Company's right-of-use leases are shown below (in thousands): Year Ended December 31, 2023 Year Ended December 31, 2022 Year Ended December 31, 2021 Short-term lease cost (1) $ 3,139 $ 4,208 $ 892 Financing lease cost 874 673 389 Operating lease cost 167 161 151 Total lease cost $ 4,180 $ 5,042 $ 1,432 ___________________ (1)

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consists of the following (in thousands): December 31, 2023 2022 Oil and natural gas properties Proved $ 1,538,724 $ 1,507,690 Unproved 11,197 11,516 Total oil and natural gas properties 1,549,921 1,519,206 Less accumulated depreciation, depletion and impairment (1,393,801) (1,380,574) Net oil and natural gas properties capitalized costs 156,120 138,632 Land 200 200 Electrical infrastructure 121,819 121,819 Non-oil and natural gas equipment 1,656 1,644 Buildings and structures 3,603 3,603 Financing Leases 1,399 1,468 Total 128,677 128,734 Less accumulated depreciation and amortization (42,184) (36,490) Other property, plant and equipment, net 86,493 92,244 Total property, plant and equipment, net $ 242,613 $ 230,876

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consist of the following (in thousands): December 31, 2023 2022 Accounts payable and other accrued expenses $ 12,854 $ 17,989 Production payable 21,086 22,290 Payroll and benefits 4,146 3,471 Taxes payable 742 2,585 Total accounts payable and accrued expenses $ 38,828 $ 46,335

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]
Reconciliation of Beginning and Ending Aggregate Carrying Amounts of Asset Retirement Obligations	The following table presents the balance and activity of the Company’s asset retirement obligations (in thousands): Year Ended December 31, 2023 2022 2021 Beginning balance $ 63,709 $ 59,368 $ 57,168 Liability incurred upon acquiring and drilling wells 113 86 18 Revisions in estimated cash flows (1) (939) 2,656 6,800 Liability settled or disposed in current period (2) (2,927) (2,296) (8,668) Accretion (3) 4,448 3,895 4,050 Ending balance 64,404 63,709 59,368 Less: current portion 9,851 16,074 17,606 Asset retirement obligations, net of current $ 54,553 $ 47,635 $ 41,762 ____________________ (1) Revisions for the years ended December 31, 2023, 2022 and 2021 relate primarily to changes in working interest, estimated well lives, and changes in plugging cost estimates. (2) $6.1 million is related to the sale of NPB in February 2021. (3) Included on the Depreciation and depletion - oil and natural gas line item on the Consolidated Statements of Operations.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
(Benefit) Provision for Income Taxes	The Company’s income tax (benefit) provision consisted of the following components (in thousands): Year Ended December 31, 2023 2022 2021 Current Federal $ — $ — $ — State — — — — — — Deferred Federal 12,002 (55,796) — State 1,958 (8,733) — 13,960 (64,529) — Total (benefit) provision $ 13,960 $ (64,529) $ —
Reconciliation of Provision (Benefit) for Income Taxes at Statutory Federal Tax Rate	A reconciliation of the (benefit) provision for income taxes at the statutory federal tax rate to the Company’s actual income tax (benefit) provision is as follows (in thousands): Year Ended December 31, 2023 2022 2021 Computed at federal statutory rate $ 15,712 $ 37,304 $ 24,404 State taxes, net of federal benefit 2,433 5,843 3,012 Non-deductible expenses 2 3 83 Stock-based compensation (71) 23 (541) Return to provision adjustments 738 1,015 (221) Change in statutory tax rate 2,665 25,499 — Change in state net operating loss carryforwards — 31,762 — Change in valuation allowance (7,537) (165,978) (26,733) Other 18 — (4) Total (benefit) provision $ 13,960 $ (64,529) $ — Effective tax rate 18.7 % (36.3) % — %
Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2023 December 31, 2022 Deferred tax liabilities Investments (1) $ — $ — Derivative contracts — — Total deferred tax liabilities — — Deferred tax assets Property, plant and equipment 68,750 89,090 Net operating loss carryforwards 372,903 373,702 Tax credits and other carryforwards 33,851 33,852 Asset retirement obligations 13,551 13,791 Investments (1) 121 165 Other 1,618 1,392 Total deferred tax assets 490,794 511,992 Valuation allowance (440,225) (447,463) Net deferred tax asset $ 50,569 $ 64,529 ____________________ (1)

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Treasury Stock Activity	The following table shows the number of shares withheld for taxes and the associated value of those shares. These shares were accounted for as treasury stock when withheld, and then immediately retired. Year Ended December 31, 2023 2022 2021 (In thousands) Number of shares withheld for taxes 59 66 192 Value of shares withheld for taxes $ 929 $ 1,177 $ 899

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates the Company’s revenue by source for the years ended December 31, 2023, 2022 and 2021 (in thousands): Year Ended December 31, 2023 2022 2021 Oil $ 78,174 $ 87,528 $ 62,297 Natural gas 34,941 103,067 55,749 NGL 35,526 63,663 50,836 Total revenues $ 148,641 $ 254,258 $ 168,882

Share Based Compensation (Table

Share Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Awards	The following table presents a summary of the Company’s unvested restricted stock awards: Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Unvested restricted shares outstanding at January 1, 2021 114 $ 3.26 Granted 56 $ 5.26 Vested (111) $ 2.99 Forfeited / Canceled (2) $ 16.25 Unvested restricted shares outstanding at December 31, 2021 57 $ 5.26 Granted 18 $ 18.93 Vested (57) $ 5.26 Forfeited / Canceled — $ — Unvested restricted shares outstanding at December 31, 2022 18 $ 18.93 Granted 54 $ 13.85 Vested (1) (18) $ 18.93 Forfeited / Canceled — $ — Unvested restricted shares outstanding at December 31, 2023 54 $ 13.85 ____________________ (1) The aggregate intrinsic value of restricted stock that vested during 2023 was approximately $0.3 million based on the stock price at the time of vesting. The following table presents a summary of the Company’s unvested restricted stock units: Number of Weighted- Average Grant Date Fair Value (In thousands) Unvested restricted stock units outstanding at January 1, 2021 1,410 $ 1.10 Granted 178 $ 7.58 Vested (477) $ 1.14 Forfeited / Canceled (705) $ 0.94 Unvested restricted stock units outstanding at December 31, 2021 406 $ 4.18 Granted 39 $ 13.51 Vested (175) $ 3.61 Forfeited / Canceled (18) $ 5.51 Unvested restricted stock units outstanding at December 31, 2022 252 $ 5.93 Granted 79 $ 15.13 Vested (1) (175) $ 4.33 Forfeited / Canceled (18) $ 11.50 Unvested restricted stock units outstanding at December 31, 2023 138 $ 12.51 ____________________ (1) The aggregate intrinsic value of restricted stock units that vested during 2023 was approximately $2.8 million based on the stock price at the time of vesting. The following table presents a summary of the Company's performance share units: Number of Weighted- Average Grant Date Fair Value (In thousands) Unvested performance share units outstanding at January 1, 2021 205 $ 1.66 Granted 39 $ 5.01 Vested (197) $ 1.70 Forfeited / Canceled (13) $ 2.38 Unvested performance share units outstanding at December 31, 2021 34 $ 5.01 Granted 19 $ 13.51 Vested (34) $ 5.01 Forfeited / Canceled (2) $ 13.51 Unvested performance share units outstanding at December 31, 2022 17 $ 13.51 Granted 19 $ 15.31 Vested (1) (17) $ 13.51 Forfeited / Canceled (3) $ 15.31 Unvested performance share units outstanding at December 31, 2023 16 $ 15.31 ____________________ (1) The aggregate intrinsic value of performance share units that vested during 2023 was approximately $0.2 million.
Schedule of Weighted Average Assumptions	The fair value of stock options is estimated on the date of the grant using a Black-Scholes valuation model that uses the weighted average assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s common stock and other factors. The Company uses historical data on the exercise of stock options, post-vesting forfeitures and other factors to estimate the expected term of the stock-based payments granted. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Generally, stock options granted to employees and directors vest ratably over three years from the grant date and expire seven years from the date of grant. There were no stock options granted during the years ended December 31, 2023 or 2022. Assumptions For the Year Ended December 31, 2021 Risk-free interest rate 0.79 % Expected dividend yield — % Expected volatility 78.2 % Expected term 5 years
Summary of Stock Option Activity	The following table presents a summary of the Company's stock option activity for the years ended December 31, 2023, 2022 and 2021: Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term(years) Aggregate Intrinsic Value (in millions) (In thousands) Outstanding at January 1, 2021 91 $ — 2.68 $ 0.24 Granted 250 — — — Exercised (9) 6.43 Expired (1) — Forfeited / Canceled (7) — — — Outstanding at December 31, 2021 324 $ — 7.80 $ 0.80 Exercisable at December 31, 2021 24 $ — 1.59 $ 0.19 Outstanding at December 31, 2021 324 $ — 7.80 $ 0.80 Granted — — — — Exercised (31) $ 17.53 — — Expired — — — — Forfeited / Canceled (7) — — — Outstanding at December 31, 2022 286 $ — 7.64 $ 2.38 Exercisable at December 31, 2022 68 $ — 6.49 $ 0.64 Outstanding at December 31, 2022 286 $ — 7.64 $ 2.38 Granted — — — — Exercised (36) $ 15.68 — — Expired — — — Forfeited / Canceled — — — — Outstanding at December 31, 2023 (1) 250 $ — 7.66 $ 1.02 Exercisable at December 31, 2023 100 $ — 7.66 $ 0.41 ____________________ (1) All outstanding stock options as of December 31, 2023 are expected to vest.
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The following tables summarize the Company's share and incentive-based compensation for the years ended December 31, 2023, 2022 and 2021 (in thousands): Recurring Compensation Expense (1) Reduction in Force (2) Total Year Ended December 31, 2023 Equity-classified awards: Restricted stock awards and units $ 1,415 $ — $ 1,415 Performance share units 229 — 229 Stock options 301 — 301 Total share-based compensation expense 1,945 — 1,945 Year Ended December 31, 2022 Equity-classified awards: Restricted stock awards and units $ 997 $ — $ 997 Performance share units 215 — 215 Stock options 314 — 314 Total share-based compensation expense 1,526 — 1,526 Year Ended December 31, 2021 Equity-classified awards: Restricted stock awards and units $ 773 $ 11 $ 784 Performance share units 476 6 482 Stock options 128 — 128 Total share-based compensation expense 1,377 17 1,394 ____________________ (1) Recorded in general and administrative expense in the accompanying consolidated statements of operations. (2) Recorded in employee termination benefits in the accompanying consolidated statements of operations.

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) per Share	The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings (loss) per share: Net Earnings (Loss) Weighted Average Shares Earnings (Loss) Per Share (In thousands, except per share amounts) Year Ended December 31, 2023 Basic earnings per share $ 60,857 36,939 $ 1.65 Effect of dilutive securities Restricted stock awards (1) — 19 Restricted share units (1) — 120 Performance share units (1) — 13 Stock Options (1) — 43 Diluted earnings per share $ 60,857 37,134 $ 1.64 Year Ended December 31, 2022 Basic earnings per share $ 242,168 36,745 $ 6.59 Effect of dilutive securities Restricted stock awards (1) — 20 Restricted share units (1) — 285 Performance share units (1) — 20 Stock Options (1) — 84 Diluted earnings per share $ 242,168 37,154 $ 6.52 Year Ended December 31, 2021 Basic earnings per share $ 116,738 36,393 $ 3.21 Effect of dilutive securities Restricted stock awards (1) — 58 Restricted share units (1) — 689 Performance share units (1) — 83 Stock Options (1) — 48 Diluted earnings per share $ 116,738 37,271 $ 3.13 ____________________ (1) The incremental shares of potentially dilutive restricted stock awards, restricted stock units, performance share units and stock options were included for the years ended December 31, 2023, 2022 and 2021 as their effect was dilutive under the treasury stock method.

Supplemental Information on O_2

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2023
Extractive Industries [Abstract]
Capitalized Costs Relating to Oil, Natural Gas and NGL Producing Activities	The Company’s capitalized costs for oil and natural gas activities consisted of the following (in thousands): December 31, 2023 2022 Oil and natural gas properties Proved $ 1,538,724 $ 1,507,690 Unproved 11,197 11,516 Total oil and natural gas properties 1,549,921 1,519,206 Less accumulated depreciation, depletion and impairment (1,393,801) (1,380,574) Net oil and natural gas properties capitalized costs $ 156,120 $ 138,632
Cost Incurred in Oil and Natural Gas Property Acquisition, Exploration, and Development	Costs incurred in oil and natural gas property acquisition, exploration and development activities which have been capitalized are summarized as follows (in thousands): Year Ended December 31, 2023 2022 2021 Acquisitions of properties Proved $ 11,232 $ 1,431 $ 3,545 Unproved — — — Exploration (1) (46) 809 905 Development 22,478 48,399 10,045 Total cost incurred $ 33,664 $ 50,639 $ 14,495 ____________________ (1) Includes land, geological, geophysical and leasehold costs.
Results of Operations for Oil, Natural Gas and NGL Producing Activities	The following table presents the Company’s results of operations from oil and natural gas producing activities (in thousands), which exclude any interest costs or indirect general and administrative costs and, therefore, are not necessarily indicative of the impact the Company’s operations have on actual net earnings. Year Ended December 31, 2023 2022 2021 Revenues $ 148,641 $ 254,258 $ 168,882 Expenses Production costs 53,099 57,221 46,309 Depreciation and depletion 15,657 11,542 9,372 Total expenses 68,756 68,763 55,681 Income (loss) before income taxes 79,885 185,495 113,201 Income tax expense (benefit) (1) 19,374 45,055 26,734 Results of operations for oil and natural gas producing activities (excluding corporate overhead and interest costs) $ 60,511 $ 140,440 $ 86,467 ____________________ (1) Income tax (benefit) expense is hypothetical and is calculated by applying the Company’s statutory tax rate to (loss) income before income taxes attributable to our oil and natural gas producing activities, after giving effect to permanent differences and tax credits.
Summary of Changes in Estimated Oil, Natural Gas and NGL Reserves	The summary below presents changes in the Company’s estimated reserves. NPB is included in 2021 and 2020. Oil NGL Natural Gas Total (MBbls) (MBbls) (MMcf) (1) MBoe Proved developed and undeveloped reserves As of December 31, 2020 8,485 11,245 102,893 36,879 Revisions of previous estimates (2) 3,627 14,924 148,736 43,340 Acquisitions of new reserves 135 438 5,235 1,446 Sales of reserves in place (3,440) (28) (716) (3,587) Production (957) (2,266) (21,417) (6,793) As of December 31, 2021 7,850 24,313 234,731 71,285 Revisions of previous estimates (2) 971 2,825 25,841 8,102 Acquisitions of new reserves 39 65 528 192 Extensions and discoveries 510 227 2,823 1,208 Production (949) (1,997) (21,101) (6,463) As of December 31, 2022 8,421 25,433 242,822 74,324 Revisions of previous estimates (2) (1,027) (8,200) (36,464) (15,304) Acquisitions of new reserves 453 379 5,474 1,745 Extensions and discoveries 283 357 3,431 1,211 Sales of reserves in place (26) (49) (427) (147) Production (1,047) (1,705) (20,403) (6,152) As of December 31, 2023 7,057 16,215 194,433 55,677 Proved developed reserves As of December 31, 2020 8,485 11,245 102,893 36,879 As of December 31, 2021 7,850 24,313 234,731 71,285 As of December 31, 2022 8,421 25,433 242,822 74,324 As of December 31, 2023 7,057 16,215 194,433 55,677 Proved undeveloped reserves As of December 31, 2020 — — — — As of December 31, 2021 — — — — As of December 31, 2022 — — — — As of December 31, 2023 — — — — Totals may not sum or recalculate due to rounding _________________ (1) Natural gas reserves are computed at 14.65 pounds per square inch absolute and 60 degrees Fahrenheit. (2) Revisions include changes due to commodity prices, production costs, previous quantity estimates, and other commercial factors. Primary factor for revisions in years ended 2023, 2022 and 2021 were changes in SEC prices, among other factors. See Proved Reserves discussion in Part I, Item 1 of this Form 10-K for additional detail.
Calculation of Weighted Average Per Unit Prices	The calculated weighted average per unit prices for the Company’s proved reserves and future net revenues were as follows: At December 31, 2023 2022 2021 Oil (per Bbl) $ 76.65 $ 93.73 $ 64.95 Natural gas (per Mcf) $ 1.62 $ 4.76 $ 2.56 NGL (per Bbl) $ 21.53 $ 33.42 $ 19.26
Standardized Measure of Discounted Future Cash Flows	The summary below presents the Company’s future net cash flows relating to proved oil, natural gas and NGL reserves based on the standardized measure in ASC Topic 932 (in thousands). December 31, 2023 2022 2021 Future cash inflows from production $ 1,204,568 $ 2,795,762 $ 1,579,734 Future production costs (1) (627,715) (1,131,145) (735,904) Future development costs (2) (39,288) (36,730) (66,732) Future income tax expenses (3) — (17,780) — Undiscounted future net cash flows 537,565 1,610,107 777,098 10% annual discount (241,272) (803,242) (344,184) Standardized measure of discounted future net cash flows $ 296,293 $ 806,865 $ 432,914 ____________________ (1) Consists of severance taxes, ad valorem taxes, and lease operating expenses. (2) Includes abandonment costs. (3) The future income tax expenses have been computed using statutory tax rates, giving effect to allowable tax deductions and tax credits under current laws, including expected tax benefits to be realized from the utilization of net operating loss carryforwards.
Estimate of Changes in Standardized Measure of Discounted Future Net Cash Flows from Proved Reserves	The following table represents the Company’s estimate of changes in the standardized measure of discounted future net cash flows from proved reserves (in thousands): Year Ended December 31, 2023 2022 2021 Beginning present value $ 806,865 $ 432,914 $ 104,986 Changes during the year Revenues less production (95,909) (197,419) (122,964) Net changes in prices, production and other costs (372,897) 465,116 380,026 Development costs incurred 645 846 83 Net changes in future development costs (1,307) 3,028 446 Extensions and discoveries 18,422 36,984 — Revisions of previous quantity estimates (1) (171,758) 98,579 112,926 Accretion of discount 81,066 34,138 6,016 Net change in income taxes 3,798 (3,798) — Purchases of reserves in-place 14,450 3,039 15,541 Sales of reserves in-place (1,394) — (29,792) Timing differences and other (2) 14,312 (66,562) (34,354) Net change for the year (510,572) 373,951 327,928 Ending present value (3) $ 296,293 $ 806,865 $ 432,914 ____________________ (1) A significant portion of the revisions of previous quantity estimates is related to the decrease in pricing which affects well life and other economic factors. Performance revisions were positive. See Proved Reserves discussion. (2) The change in timing differences and other are related to revisions in the Company's estimated time of production and development. (3) Standardized Measure was determined using SEC prices, and does not reflect actual prices received or current market prices.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Significant Accounting Policies [Line Items]
Capitalized costs	$ 33,664	$ 50,639	$ 14,495
Maximum reserves sold from cost center not expected to result in significant alteration (less than)	25%
Percentage depletion rate of reserves (greater than)	0.10
Interest capitalized during period	$ 0	0
Natural gas balancing liability	1,500	1,400
Internal Costs
Significant Accounting Policies [Line Items]
Capitalized costs	$ 200	$ 300	$ 500
Buildings and structures | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	7 years
Buildings and structures | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	39 years
Equipment | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	1 year
Equipment | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	27 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Revenues	$ 148,641	$ 254,258	$ 168,882
Plains Marketing L.P.
Concentration Risk [Line Items]
Revenues	$ 71,832	$ 76,342	$ 51,204
Plains Marketing L.P. | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	48.30%	30%	30.30%
Targa Pipeline Mid-Continent West OK LLC
Concentration Risk [Line Items]
Revenues	$ 69,743	$ 147,902	$ 91,066
Targa Pipeline Mid-Continent West OK LLC | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	46.90%	58.20%	53.90%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, net of amounts capitalized	$ (104)	$ (215)	$ (177)
Supplemental Disclosure of Noncash Investing and Financing Activities
Capital expenditures for property, plant and equipment in accounts payables and accrued expenses	919	6,151	1,029
Right-of-use assets obtained in exchange for financing lease obligations	760	713	1,258
Inventory material transfers to oil and natural gas properties	1,289	0	0
Asset retirement obligation capitalized	113	86	18
Asset retirement obligation removed due to divestiture	(1,413)	(623)	(7,662)
Asset retirement obligation revisions	(939)	2,656	6,800
Dividend payable	$ 263	$ 0	$ 0

Acquisitions and Divestitures_2

Acquisitions and Divestitures of Assets and Oil and Gas Properties (Details) $ in Thousands				12 Months Ended
	Jul. 11, 2023 USD ($) produceWell	Apr. 22, 2021 USD ($)	Feb. 05, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Assets and Liabilities Held for Sale [Line Items]
Proceeds from sale of assets				$ 1,472	$ 448	$ 38,160
Disposal Group, Held-for-sale, Not Discontinued Operations | North Park Basin, Colorado
Assets and Liabilities Held for Sale [Line Items]
Purchase price of the sale of oil and gas property and equipment			$ 47,000
Proceeds from sale of assets			39,700
Reduction of full cost pool assets			22,000
Reduction in non-full cost pool assets			4,600
Gain on sale			$ 18,900
Northwest Stack Play
Assets and Liabilities Held for Sale [Line Items]
Number of producing wells | produceWell	26
Gross purchase price	$ 10,600
Royalty Interest of SandRidge Mississippian Trust I
Assets and Liabilities Held for Sale [Line Items]
Gross purchase price		$ 4,900
Net purchase price		$ 3,600
Royalty Interest of SandRidge Mississippian Trust I | SandRidge Energy, Inc
Assets and Liabilities Held for Sale [Line Items]
Ownership interest in trust		26.90%

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - Commodity derivative contracts $ in Thousands	Dec. 31, 2022 USD ($)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets at Fair Value	$ 4,429
Level 1
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets at Fair Value	0
Level 2
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets at Fair Value	4,429
Level 3
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets at Fair Value	0
Netting
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets at Fair Value	$ 0

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Oil, natural gas and NGL sales	$ 14,545	$ 21,839
Joint interest billing	7,405	11,234
Other	2,243	3,689
Total accounts receivable	24,193	36,762
Less: allowance for expected credit losses	(2,027)	(2,027)	$ (2,027)
Total accounts receivable, net	$ 22,166	$ 34,735

Accounts Receivable - Balance a

Accounts Receivable - Balance and Activity in Allowance for Expect Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 2,027	$ 2,027
Additions charged to costs and expenses	0	0
Deductions	0	0
Ending balance	$ 2,027	$ 2,027

Derivatives - Summary of Deriva

Derivatives - Summary of Derivative Activity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) institution	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Gain) loss on derivative contracts	$ (1,447)	$ (5,975)	$ 2,251
Realized settlement gains (losses) on derivative contracts	$ (5,876)	(1,525)	2,230
Number of counterparties to open derivative contracts | institution	1
Commodity Derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Gain) loss on derivative contracts	$ (1,447)	(5,975)	2,251
Realized settlement gains (losses) on derivative contracts	$ (5,876)	$ (1,525)	$ 2,230

Derivatives - Offsetting Assets

Derivatives - Offsetting Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
ASSETS
Gross Amounts	$ 4,429
Gross Amounts Offset	0
Amounts Net of Offset	4,429
Financial Collateral	0
Net Amount	$ 4,429
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Derivative contracts

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Contracts (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Derivatives, Fair Value
Total net derivative contracts	$ 4,429
Natural Gas | Current assets - Derivative Contracts
Derivatives, Fair Value
Net Amount	$ 4,429

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease liability, current, balance sheet location [Extensible List]	Other current liabilities	Other current liabilities
Operating lease liability, noncurrent, balance sheet location [Extensible List]	Other long-term obligations	Other long-term obligations
Finance lease liability, current, balance sheet location [Extensible List]	Other current liabilities	Other current liabilities
Finance lease liability, noncurrent, balance sheet location [Extensible List]	Other long-term obligations	Other long-term obligations
Short-term lease cost	$ 3,139	$ 4,208	$ 892
Financing lease cost	874	673	389
Operating lease cost	167	161	151
Total lease cost	4,180	5,042	1,432
Short-term lease, cost, capitalized	$ 1,600	$ 3,300	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Oil and natural gas properties, using full cost method of accounting
Proved	$ 1,538,724	$ 1,507,690
Unproved	11,197	11,516
Total oil and natural gas properties	1,549,921	1,519,206
Less: accumulated depreciation, depletion and impairment	(1,393,801)	(1,380,574)
Net oil and natural gas properties capitalized costs	156,120	138,632
Property, Plant and Equipment, Net
Financing Leases	1,399	1,468
Total	128,677	128,734
Less accumulated depreciation and amortization	(42,184)	(36,490)
Other property, plant and equipment, net	86,493	92,244
Total property, plant and equipment, net	242,613	230,876
Land
Property, Plant and Equipment, Net
Property, plant and equipment, gross	200	200
Electrical infrastructure
Property, Plant and Equipment, Net
Property, plant and equipment, gross	121,819	121,819
Non-oil and natural gas equipment
Property, Plant and Equipment, Net
Property, plant and equipment, gross	1,656	1,644
Buildings and structures
Property, Plant and Equipment, Net
Property, plant and equipment, gross	$ 3,603	$ 3,603

Property, Plant and Equipment -

Property, Plant and Equipment - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / Boe	Dec. 31, 2022 USD ($) $ / Boe	Dec. 31, 2021 $ / Boe
Property, Plant and Equipment [Line Items]
Average depreciation and depletion rate (usd per Boe) | $ / Boe	1.82	1.18	0.78
Unproved | $	$ 11,197	$ 11,516
Minimum
Property, Plant and Equipment [Line Items]
Expect completion of evaluation activities on majority of unproved properties, without existing production (in years)	3 years
Maximum
Property, Plant and Equipment [Line Items]
Expect completion of evaluation activities on majority of unproved properties, without existing production (in years)	5 years

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable and other accrued expenses	$ 12,854	$ 17,989
Production payable	21,086	22,290
Payroll and benefits	4,146	3,471
Taxes payable	742	2,585
Total accounts payable and accrued expenses	$ 38,828	$ 46,335

Asset Retirement Obligations -

Asset Retirement Obligations - Reconciliation of Beginning and Ending Aggregate Carrying Amounts of Asset Retirement Obligations (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 05, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation, Roll Forward Analysis
Beginning balance		$ 63,709	$ 59,368	$ 57,168
Liability incurred upon acquiring and drilling wells		113	86	18
Revisions in estimated cash flows		(939)	2,656	6,800
Liability settled or disposed in current period		(2,927)	(2,296)	(8,668)
Accretion		4,448	3,895	4,050
Ending balance		64,404	63,709	59,368
Less: current portion		9,851	16,074	17,606
Asset retirement obligations		54,553	47,635	41,762
Assets and Liabilities Held for Sale [Line Items]
Asset retirement obligation removed due to divestiture		$ 2,927	$ 2,296	$ 8,668
North Park Basin, Colorado
Asset Retirement Obligation, Roll Forward Analysis
Liability settled or disposed in current period	$ (6,100)
Assets and Liabilities Held for Sale [Line Items]
Asset retirement obligation removed due to divestiture	$ 6,100

Commitments and Contingencies (

Commitments and Contingencies (Details) - SandRidge Mississippian Trust I - Pending Litigation $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) individual
Loss Contingencies [Line Items]
Number of defendants | individual	2
Loss contingency, estimate of possible loss | $	$ 17,000

Income Taxes - (Benefit) Provis

Income Taxes - (Benefit) Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ 0	$ 0	$ 0
State	0	0	0
Current, total	0	0	0
Deferred
Federal	12,002	(55,796)	0
State	1,958	(8,733)	0
Deferred, total	13,960	(64,529)	0
Total (benefit) provision	$ 13,960	$ (64,529)	$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of (Benefit) Provision for Income Taxes at Statutory Federal Tax Rate to Company's Actual Income Tax (Benefit) Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Computed at federal statutory rate	$ 15,712	$ 37,304	$ 24,404
State taxes, net of federal benefit	2,433	5,843	3,012
Non-deductible expenses	2	3	83
Stock-based compensation	(71)	23	(541)
Return to provision adjustments	738	1,015	(221)
Change in statutory tax rate	2,665	25,499	0
Change in state net operating loss carryforwards	0	31,762	0
Change in valuation allowance	(7,537)	(165,978)	(26,733)
Other	18	0	(4)
Total (benefit) provision	$ 13,960	$ (64,529)	$ 0
Effective tax rate	18.70%	(36.30%)	0%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred tax assets, net of valuation allowance	$ 50,569	$ 64,529
Deferred federal and state tax expense	14,000
States operating loss carryforwards	199,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 50,600	$ 64,500
Minimum
Operating Loss Carryforwards [Line Items]
Number of tax years open for state tax audit (in years)	3 years
Maximum
Operating Loss Carryforwards [Line Items]
Number of tax years open for state tax audit (in years)	5 years
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryovers	$ 1,600,000
Operating loss carryforwards, subject to expiration	700,000
Operating loss carryforwards, not subject to expiration	900,000
Tax credits, not subject to expiration	33,500
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryovers	1,100,000
Operating loss carryforwards, subject to expiration	237,000
Operating loss carryforwards, not subject to expiration	$ 651,000

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax liabilities
Investments	$ 0	$ 0
Derivative contracts	0	0
Total deferred tax liabilities	0	0
Deferred tax assets
Property, plant and equipment	68,750	89,090
Net operating loss carryforwards	372,903	373,702
Tax credits and other carryforwards	33,851	33,852
Asset retirement obligations	13,551	13,791
Investments	121	165
Other	1,618	1,392
Total deferred tax assets	490,794	511,992
Valuation allowance	(440,225)	(447,463)
Net deferred tax asset	$ 50,569	$ 64,529

Equity - Narrative (Details)

Equity - Narrative (Details) $ / shares in Units, $ in Thousands							3 Months Ended	12 Months Ended
	Nov. 27, 2023 USD ($)	Nov. 02, 2023 $ / shares	Aug. 28, 2023 USD ($)	Aug. 01, 2023 $ / shares	Jun. 07, 2023 USD ($) $ / shares	May 01, 2023 $ / shares	Dec. 31, 2016 shares	Dec. 31, 2023 USD ($) shareholder $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	May 31, 2023 USD ($)	Aug. 16, 2021 USD ($)	Dec. 31, 2020 shares	Jul. 01, 2020 $ / shares shares
Class of Stock [Line Items]
Number of shares authorized (in shares)								300,000,000
Shares authorized (in shares)								250,000,000	250,000,000
Dividends cash paid, (in dollars per share) | $ / shares					$ 2
Dividends cash paid | $	$ 3,700		$ 3,700		$ 73,800			$ 81,778
Dividends declared (in dollars per share) | $ / shares		$ 0.1		$ 0.1		$ 0.1
Cash dividends on vested stock awards | $								300
Payments of dividends | $								$ 81,515	$ 0	$ 0
Common stock, par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001
Preferred stock, authorized (in shares)								50,000,000
Preferred stock, par value (in dollars per share) | $ / shares								$ 0.001
Common stock, issued (in shares)								37,091,000	36,868,000
Common stock, outstanding (in shares)								37,091,000	36,868,000
Options outstanding (in shares)								250,000	286,000	324,000			91,000
Number of securities issued for each warrant (in shares)								1
Number of common shares exercised (in shares)									147
Stock repurchase program, authorized amount | $											$ 75,000	$ 25,000
Tax benefits preservation plan, ownership threshold, beneficial ownership threshold, number of shareholders | shareholder								1
Tax benefits preservation plan, ownership threshold, beneficial ownership threshold, percent								4.90%
Tax benefits preservation plan, ownership threshold, beneficial ownership threshold, period (in years)								3 years
Maximum
Class of Stock [Line Items]
Tax benefits preservation plan, ownership threshold, beneficial ownership threshold, percent								5%
Minimum
Class of Stock [Line Items]
Tax benefits preservation plan, ownership threshold, beneficial ownership threshold, increases by more points over lowest percentage of stock owned								5,000%
Series A Warrants
Class of Stock [Line Items]
Common stock issued for general unsecured claims (in shares)							4,900,000		103
Exercise price of warrants (in usd per share) | $ / shares								$ 41.34
Number of warrants cancelled (in shares)									4,900,000
Series B Warrants
Class of Stock [Line Items]
Common stock issued for general unsecured claims (in shares)								2,100,000	44
Exercise price of warrants (in usd per share) | $ / shares								$ 42.03
Number of warrants cancelled (in shares)									2,100,000
The Tax Benefits Preservation Plan
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares														$ 0.001
Preferred stock, par value (in dollars per share) | $ / shares														$ 0.001
Number of rights per outstanding share of common stock														1
The Tax Benefits Preservation Plan | Preferred Stock
Class of Stock [Line Items]
Exercise price of warrants (in usd per share) | $ / shares														$ 5
Class of warrant or right, fractional number of securities called by each warrant or right (in shares)														0.001
Restricted Stock
Class of Stock [Line Items]
Shares authorized (in shares)								100,000
Options outstanding (in shares)								100,000
Performance Share Units
Class of Stock [Line Items]
Options outstanding (in shares)								0
Stock Options
Class of Stock [Line Items]
Options outstanding (in shares)								200,000	200,000
Restricted Stock Units
Class of Stock [Line Items]
Options outstanding (in shares)									300,000

Equity - Shares Withheld for Ta

Equity - Shares Withheld for Taxes (Details) - Treasury Stock - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares withheld for taxes	59	66	192
Value of shares withheld for taxes	$ 929	$ 1,177	$ 899

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 148,641	$ 254,258	$ 168,882
Oil
Disaggregation of Revenue [Line Items]
Revenues	78,174	87,528	62,297
Natural gas
Disaggregation of Revenue [Line Items]
Revenues	34,941	103,067	55,749
NGL
Disaggregation of Revenue [Line Items]
Revenues	$ 35,526	$ 63,663	$ 50,836

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Bad debt expense on revenues receivable	$ 0	$ 0	$ 0
Accounts Receivable | Customer Concentration Risk | Two Purchasers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	72.30%
Revenue Receivable from Contract with Customer
Disaggregation of Revenue [Line Items]
Accounts receivable, gross	$ 14.5	$ 21.8

Share Based Compensation - Narr

Share Based Compensation - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 04, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	300,000,000
Options outstanding, Weighted average remaining contractual term (in years)	7 years 7 months 28 days	7 years 7 months 20 days	7 years 9 months 18 days	2 years 8 months 4 days
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)					4,600,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of recognition for unrecognized costs (years)	5 months 12 days
Unrecognized compensation expense	$ 0.3
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Period of recognition for unrecognized costs (years)	2 years 1 month 17 days
Unrecognized compensation expense	$ 1.3
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Period of recognition for unrecognized costs (years)	3 months 3 days
Unrecognized compensation expense	$ 0.1
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Unrecognized compensation expense	$ 0.8
Expiration period (in years)	7 years
Options outstanding, Weighted average remaining life (in years)	2 years 7 months 24 days
Minimum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Maximum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years

Share Based Compensation - Summ

Share Based Compensation - Summary of Awards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock
Number of Shares
Unvested shares/units outstanding at beginning of period (in shares)	18	57	114
Granted (in shares)	54	18	56
Vested (in shares)	(18)	(57)	(111)
Forfeited / Canceled (in shares)	0	0	(2)
Unvested shares/units outstanding at end of period (in shares)	54	18	57
Weighted- Average Grant Date Fair Value (usd per share)
Unvested shares outstanding at beginning of period (in usd per share)	$ 18.93	$ 5.26	$ 3.26
Granted (in usd per share)	13.85	18.93	5.26
Vested (in usd per share)	18.93	5.26	2.99
Forfeited / Canceled (in usd per share)	0	0	16.25
Unvested shares outstanding at end of period (in usd per share)	$ 13.85	$ 18.93	$ 5.26
Aggregate intrinsic value of award vested during period	$ 0.3
Restricted Stock Units
Number of Shares
Unvested shares/units outstanding at beginning of period (in shares)	252	406	1,410
Granted (in shares)	79	39	178
Vested (in shares)	(175)	(175)	(477)
Forfeited / Canceled (in shares)	(18)	(18)	(705)
Unvested shares/units outstanding at end of period (in shares)	138	252	406
Weighted- Average Grant Date Fair Value (usd per share)
Unvested shares outstanding at beginning of period (in usd per share)	$ 5.93	$ 4.18	$ 1.10
Granted (in usd per share)	15.13	13.51	7.58
Vested (in usd per share)	4.33	3.61	1.14
Forfeited / Canceled (in usd per share)	11.50	5.51	0.94
Unvested shares outstanding at end of period (in usd per share)	$ 12.51	$ 5.93	$ 4.18
Aggregate intrinsic value of award vested during period	$ 2.8
Performance Share Units
Number of Shares
Unvested shares/units outstanding at beginning of period (in shares)	17	34	205
Granted (in shares)	19	19	39
Vested (in shares)	(17)	(34)	(197)
Forfeited / Canceled (in shares)	(3)	(2)	(13)
Unvested shares/units outstanding at end of period (in shares)	16	17	34
Weighted- Average Grant Date Fair Value (usd per share)
Unvested shares outstanding at beginning of period (in usd per share)	$ 13.51	$ 5.01	$ 1.66
Granted (in usd per share)	15.31	13.51	5.01
Vested (in usd per share)	13.51	5.01	1.70
Forfeited / Canceled (in usd per share)	15.31	13.51	2.38
Unvested shares outstanding at end of period (in usd per share)	$ 15.31	$ 13.51	$ 5.01
Aggregate intrinsic value of award vested during period	$ 0.2

Share Based Compensation - Weig

Share Based Compensation - Weighted Average Assumptions (Details) - Stock Options	12 Months Ended
	Dec. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.79%
Expected dividend yield	$ 0
Expected volatility	78.20%
Expected term	5 years

Share Based Compensation - Su_2

Share Based Compensation - Summary of Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Options Activity
Outstanding at December 31, 2019 (in shares)	286	324	91
Granted (in shares)	0	0	250
Exercised (in shares)	(36)	(31)	(9)
Expired (in shares)	0	0	(1)
Forfeited / Canceled (in shares)	0	(7)	(7)
Outstanding at December 31, 2020 (in shares)	250	286	324	91
Stock Options Weighted Average Exercise Price
Options outstanding, Weighted average exercise price per share - December 31, 2019 (in USD per share)	$ 0	$ 0	$ 0
Options granted, Weighted average exercise price per share (in USD per share)	0	0	0
Options exercised, Weighted average exercise price per share (in USD per share)	15.68	17.53	6.43
Options expired, Weighted average exercise price per share (in USD per share)	0	0	0
Options forfeited / canceled, Weighted average exercise price per share (in USD per share)	0	0	0
Options outstanding, Weighted average exercise price per share - December 31, 2020 (in USD per share)	$ 0	$ 0	$ 0	$ 0
Additional Disclosures
Options outstanding, Weighted average remaining contractual term (in years)	7 years 7 months 28 days	7 years 7 months 20 days	7 years 9 months 18 days	2 years 8 months 4 days
Options outstanding, Aggregate intrinsic value (in USD)	$ 1,020	$ 2,380	$ 800	$ 240
Options exercisable, Number of options (in shares)	100	68	24
Options exercisable, Weighted average exercise price per share (in USD per share)	$ 0	$ 0	$ 0
Options exercisable, Weighted average remaining contractual term (in years)	7 years 7 months 28 days	6 years 5 months 26 days		1 year 7 months 2 days
Options exercisable, Aggregate intrinsic value (in USD)	$ 410	$ 640	$ 190

Share Based Compensation - Shar

Share Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 1,945	$ 1,526	$ 1,394
Recurring Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	1,945	1,526	1,377
Reduction in Force
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0	0	17
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	1,415	997	784
Restricted Stock and Restricted Stock Units | Recurring Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	1,415	997	773
Restricted Stock and Restricted Stock Units | Reduction in Force
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0	0	11
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	229	215	482
Performance Share Units | Recurring Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	229	215	476
Performance Share Units | Reduction in Force
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0	0	6
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	301	314	128
Stock Options | Recurring Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	301	314	128
Stock Options | Reduction in Force
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 0	$ 0	$ 0

Incentive and Deferred Compen_2

Incentive and Deferred Compensation Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
401(k) Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Retirement plan, employer matching contribution, percent of match	100%	100%
Retirement plan, employer matching contribution, percent of employees' gross pay (up to)	10%	10%
Retirement plan, cost recognized	$ 0.8
Percent of employee contributions vesting immediately	100%	100%
Retirement plan, employer matching contribution, vesting period	4 years
Annual Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Accrued bonuses	$ 2.2	$ 1.5
Payments to employees	$ 1.5	$ 2.1

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Earnings (Loss)	$ 60,857	$ 242,168	$ 116,738
Weighted Average Shares, basic (in shares)	36,939	36,745	36,393
Earnings Per Share, Basic (in dollars per share)	$ 1.65	$ 6.59	$ 3.21
Effect of dilutive securities
Restricted stock awards	$ 0	$ 0	$ 0
Restricted stock awards (in shares)	19	20	58
Restricted share units	$ 0	$ 0	$ 0
Restricted share units (in shares)	120	285	689
Performance share units	$ 0	$ 0	$ 0
Performance share units (in shares)	13	20	83
Stock Options	$ 0	$ 0	$ 0
Stock Options (in shares)	43	84	48
Earnings per share, diluted	$ 60,857	$ 242,168	$ 116,738
Diluted (in shares)	37,134	37,154	37,271
Earnings Per Share, Diluted (in dollars per share)	$ 1.64	$ 6.52	$ 3.13

Supplemental Information on O_3

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Capitalized Costs Related to Oil and Natural Gas Producing Activities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Oil and natural gas properties
Proved	$ 1,538,724	$ 1,507,690
Unproved	11,197	11,516
Total oil and natural gas properties	1,549,921	1,519,206
Less: accumulated depreciation, depletion and impairment	(1,393,801)	(1,380,574)
Net oil and natural gas properties capitalized costs	$ 156,120	$ 138,632

Supplemental Information on O_4

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquisitions of properties
Proved	$ 11,232	$ 1,431
Proved			$ 3,545
Unproved	0	0	0
Exploration	46	809	905
Development	22,478	48,399	10,045
Total cost incurred	$ 33,664	$ 50,639	$ 14,495

Supplemental Information on O_5

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Results of Operations from Oil and Natural Gas Producing Activities (Unaudited) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Results of Operations for Oil and Gas Producing Activities
Revenues	$ 148,641	$ 254,258	$ 168,882
Expenses
Production costs	53,099	57,221	46,309
Depreciation and depletion	15,657	11,542	9,372
Total expenses	68,756	68,763	55,681
Income (loss) before income taxes	79,885	185,495	113,201
Income tax benefit	19,374	45,055	26,734
Results of operations for oil and natural gas producing activities (excluding corporate overhead and interest costs)	60,511	140,440	86,467
Oil, natural gas and NGL
Results of Operations for Oil and Gas Producing Activities
Revenues	$ 148,641	$ 254,258	$ 168,882

Supplemental Information on O_6

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 MBoe	Dec. 31, 2022 MBoe	Dec. 31, 2021 MBoe	Dec. 31, 2020 MBoe
Extractive Industries [Abstract]
Percentage of proved reserves estimates prepared by external engineers	0.95	0.95
Percentage of proved reserves estimates prepared internally	5%
Proved developed and undeveloped reserves (MBoe)	55,677	74,324	71,285	36,879
Decrease due to change in accounting (MBoe)	17.5	9,100	27,300
Decrease due to change in accounting, PUD		(1,000)	(13,600)
Revision of previous estimates due to changes in commodity pricing (MBoe)	6.2	6,500	6,800
Attributable to well shut-ins and other revisions	(1.4)	2,800	1,200
Decrease due to change in accounting, Remaining Proved Reserves	(1.8)	(200)	1,400
Increase in commodity for oil and natural gas and extensions	1.2	1,200
Revision of previous estimates due to changes in well performance (MBoe)	(1.9)	(1,000)	3,600
Revision from sales (MBoe)	(0.1)
Revision of previous estimates due to changes in commerical improvements (MBoe)	1.7
Revision from well reactivation program		1,800	3,700
Production (MBoe)	6,152	6,463	6,793
Acquisitions of new reserves (MBoe)	1,745	192	1,446
Percentage of discount factor	0.10

Supplemental Information on O_7

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Summary of Changes in Estimated Oil and Natural Gas Reserves (Unaudited) (Details)	12 Months Ended
	Dec. 31, 2023 MBoe ° psi MBbls Mcf	Dec. 31, 2022 MBoe MBbls Mcf	Dec. 31, 2021 MBoe MBbls Mcf	Dec. 31, 2020 MBoe Mcf MBbls
Proved Developed and Undeveloped Reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)
Proved developed and undeveloped reserves, Beginning balance (MBoe) | MBoe	74,324	71,285	36,879
Revisions of previous estimates (MBoe) | MBoe	(15,304)	8,102	43,340
Acquisitions of new reserves (MBoe) | MBoe	1,745	192	1,446
Extensions and discoveries (MBoe) | MBoe	1,211	1,208
Sales of reserves in place (MBoe) | MBoe	(147)		(3,587)
Production (MBoe) | MBoe	(6,152)	(6,463)	(6,793)
Proved developed and undeveloped reserves, Ending balance (MBoe) | MBoe	55,677	74,324	71,285
Proved developed reserves (MBoe) | MBoe	55,677	74,324	71,285	36,879
Proved undeveloped reserves (MBoe) | MBoe	0	0	0	0
Oil
Proved Developed and Undeveloped Reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)
Proved developed and undeveloped reserves, beginning balance	8,421	7,850	8,485
Revisions of previous estimates (2)	(1,027)	971	3,627
Acquisitions of new reserves	453	39	135
Extensions and discoveries	283	510
Sales of reserves in place	(26)		(3,440)
Production	(1,047)	(949)	(957)
Proved developed and undeveloped reserves, ending balance	7,057	8,421	7,850
Proved developed reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)	7,057	8,421	7,850	8,485
Proved undeveloped reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)	0	0	0	0
NGL
Proved Developed and Undeveloped Reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)
Proved developed and undeveloped reserves, beginning balance	25,433	24,313	11,245
Revisions of previous estimates (2)	(8,200)	2,825	14,924
Acquisitions of new reserves	379	65	438
Extensions and discoveries	357	227
Sales of reserves in place	(49)		(28)
Production	(1,705)	(1,997)	(2,266)
Proved developed and undeveloped reserves, ending balance	16,215	25,433	24,313
Proved developed reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)	16,215	25,433	24,313	11,245
Proved undeveloped reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)	0	0	0	0
Natural gas
Proved Developed and Undeveloped Reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas)
Proved developed and undeveloped reserves, beginning balance | Mcf	242,822,000	234,731,000	102,893,000
Revisions of previous estimates (2) | Mcf	(36,464,000)	25,841,000	148,736,000
Acquisitions of new reserves | Mcf	5,474,000	528,000	5,235,000
Extensions and discoveries | Mcf	3,431,000	2,823,000
Sales of reserves in place | Mcf	(427,000)		(716,000)
Production | Mcf	(20,403,000)	(21,101,000)	(21,417,000)
Proved developed and undeveloped reserves, ending balance | Mcf	194,433,000	242,822,000	234,731,000
Proved developed reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas) | Mcf	194,433,000	242,822,000	234,731,000	102,893,000
Proved undeveloped reserves (in MBbls for Oil and NGLs/MMcf for Natural Gas) | Mcf	0	0	0	0
Proved developed and undeveloped reserves, per square inch absolute | psi	14.65
Proved developed and undeveloped reserves, degree fahrenheit | °	60

Supplemental Information on O_8

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Calculation of Weighted Average Per Unit Prices (Unaudited) (Details)	12 Months Ended
	Dec. 31, 2023 $ / Mcf $ / bbl	Dec. 31, 2022 $ / Mcf $ / bbl	Dec. 31, 2021 $ / Mcf $ / bbl
Oil
Oil and Gas, Present Activity [Line Items]
Weighted Average Sales Price (USD per barrel for Oil and NGLs/USD per Mcf for Natural Gas)	76.65	93.73	64.95
NGL
Oil and Gas, Present Activity [Line Items]
Weighted Average Sales Price (USD per barrel for Oil and NGLs/USD per Mcf for Natural Gas)	21.53	33.42	19.26
Natural gas
Oil and Gas, Present Activity [Line Items]
Weighted Average Sales Price (USD per barrel for Oil and NGLs/USD per Mcf for Natural Gas) | $ / Mcf	1.62	4.76	2.56

Supplemental Information on O_9

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Standardized Measure of Discounted Future Cash Flows (Unaudited) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Extractive Industries [Abstract]
Future cash inflows from production	$ 1,204,568	$ 2,795,762	$ 1,579,734
Future production costs (1)	(627,715)	(1,131,145)	(735,904)
Future development costs	(39,288)	(36,730)	(66,732)
Future income tax expenses	0	(17,780)	0
Undiscounted future net cash flows	537,565	1,610,107	777,098
10% annual discount	(241,272)	(803,242)	(344,184)
Standardized measure of discounted future net cash flows	$ 296,293	$ 806,865	$ 432,914	$ 104,986

Supplemental Information on _10

Supplemental Information on Oil and Natural Gas Producing Activities (Unaudited) - Estimate of Changes in Standardized Measure of Discounted Future Net Cash Flows from Proved Reserves (Unaudited) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Roll Forward]
Beginning present value	$ 806,865	$ 432,914	$ 104,986
Changes during the year
Revenues less production	(95,909)	(197,419)	(122,964)
Net changes in prices, production and other costs	(372,897)	465,116	380,026
Development costs incurred	645	846	83
Net changes in future development costs	(1,307)	3,028	446
Extensions and discoveries	18,422	36,984	0
Revisions of previous quantity estimates	(171,758)	98,579	112,926
Accretion of discount	81,066	34,138	6,016
Net change in income taxes	3,798	(3,798)	0
Purchases of reserves in-place	14,450	3,039	15,541
Sales of reserves in-place	(1,394)	0	(29,792)
Timing differences and other	14,312	(66,562)	(34,354)
Net change for the year	(510,572)	373,951	327,928
Ending present value	$ 296,293	$ 806,865	$ 432,914

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands							1 Months Ended	12 Months Ended
	Nov. 27, 2023	Nov. 02, 2023	Aug. 28, 2023	Aug. 01, 2023	Jun. 07, 2023	May 01, 2023	Jan. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Dividends cash paid, (in dollars per share)					$ 2
Dividends cash paid	$ 3,700		$ 3,700		$ 73,800			$ 81,778
Dividends declared (in dollars per share)		$ 0.1		$ 0.1		$ 0.1
Subsequent Event
Business Acquisition [Line Items]
Dividends cash paid, (in dollars per share)							$ 1.5
Dividends cash paid							$ 55,600
Dividends declared (in dollars per share)							$ 0.11