0001928446-25-000010 | 10-K | XBRL Viewer | Granite Ridge Resources INC

Print Document

Debt (Details) - USD ($) $ in Millions	12 Months Ended
Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Nov. 01, 2024	Apr. 01, 2024	Mar. 31, 2024	Dec. 31, 2023
Credit facility
Long-term debt	$ 205.0				$ 110.0
Line of Credit
Credit facility
Debt instrument term	5 years
Initial borrowing capacity		$ 325.0	$ 300.0	$ 275.0
Capacity for aggregate elected commitments		$ 325.0	$ 300.0	$ 240.0
Write-off of deferred financing cost	$ 2.2
Capitalized debt expenses	3.0
Deferred financing costs	4.3
Outstanding borrowings	205.0
Letters of credit outstanding	0.3
Line of credit facility, remaining borrowing capacity	$ 119.7
Debt, weighted average interest rate	8.12%				8.71%
Commitment fee percentage	0.50%
Leverage ratio	300.00%
Current ratio	100.00%
Line of Credit \| Credit Spread Adjustment Scenario 1
Credit facility
Interest rate increase (percent)	0.10%
Line of Credit \| Credit Spread Adjustment Scenario 2
Credit facility
Interest rate increase (percent)	0.15%
Line of Credit \| Credit Spread Adjustment Scenario 3
Credit facility
Interest rate increase (percent)	0.20%
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Credit Spread Adjustment Scenario 1
Credit facility
Interest rate increase (percent)	1.00%
Variable interest rate adjustment term	1 month
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Minimum
Credit facility
Variable interest rate (percent)	3.00%
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Minimum \| Credit Spread Adjustment Scenario 1
Credit facility
Additional to margin added to interest rate	2.00%
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Maximum
Credit facility
Variable interest rate (percent)	4.00%
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Maximum \| Credit Spread Adjustment Scenario 1
Credit facility
Additional to margin added to interest rate	3.00%
Line of Credit \| Federal funds rate
Credit facility
Interest rate increase (percent)	0.50%

Summary of Significant Accounting Policies - Advance to operators (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Advance payments to operators, term	90 days

Summary of Significant Accounting Policies - Revenue recognition (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounting policies [Line items]
Allowance for credit loss	$ 0.2	$ 0.2
Minimum
Accounting policies [Line items]
Accounts receivable, timing of receipts	1 month
Maximum
Accounting policies [Line items]
Accounts receivable, timing of receipts	3 months

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company uses derivative financial instruments in connection with its oil and natural gas operations to provide an economic hedge of the Company’s exposure to commodity price risk associated with anticipated future oil and natural gas production. The Company does not hold or issue derivative financial instruments for speculative trading purposes.

The Company does not designate its derivative instruments to qualify for hedge accounting. Accordingly, the Company reflects changes in the fair value of its derivative instruments in its consolidated statements of operations as they occur.

Collar Option Contracts and Swaps

The Company’s derivative financial instruments consist of collar option contracts and swaps.

A collar option is established with the sale of a short call option (ceiling price) and the purchase of a long put option (floor price) set to expire at a predetermined date in the future. The options give the owner the right but not the obligation to exercise the option at the expiration date.

When the settlement price is below the established floor price, the Company receives an amount from its counterparty equal to the difference between the settlement price and the floor price multiplied by the hedged contract volume. When the settlement price is above the established ceiling price, the Company pays its counterparty an amount equal to the difference between the settlement price and the ceiling price multiplied by the hedged contract volume. When the settlement price is between the established floor and the ceiling, no amounts are due to or from the counterparty.

A swap contract allows the Company to receive a fixed price and pay a floating market price to the counterparty for the hedged commodity.

The Company has master netting agreements on individual derivative instruments with its counterparties and therefore certain amounts may be presented on a net basis in the consolidated balance sheets.

Volume of Derivative Activities

The following table sets forth the Company’s outstanding commodity derivative contracts as of December 31, 2024.


	2025										2026
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total		Total
Collars (oil)
Volume (Bbl)	764,903		623,266		522,210		494,000		2,404,379		788,980
Weighted-average floor price ($/Bbl)	$	61.59	$	60.27	$	61.65	$	60.00	$	60.93	$	60.00
Weighted-average ceiling price ($/Bbl)	$	78.52	$	77.82	$	79.43	$	77.23	$	78.27	$	69.68
Collars (natural gas)
Volume (Mcf)	4,134,179		1,075,438		2,441,757		2,662,615		10,313,989		8,154,446
Weighted-average floor price ($/Mcf)	$	3.30	$	3.00	$	3.00	$	3.10	$	3.14	$	3.29
Weighted-average ceiling price ($/Mcf)	$	4.56	$	3.75	$	3.75	$	3.89	$	4.11	$	4.06
Swaps (natural gas)
Volume (Mcf)	—		2,548,520		717,450		212,350		3,478,320		1,253,400
Weighted-average price ($/Mcf)	$	—	$	3.19	$	3.17	$	3.16	$	3.18	$	3.41

The following table summarizes the amounts reported in the consolidated statements of operations related to the commodity derivative instruments for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Gain (loss) on commodity derivatives
Oil derivatives	$	(10,260)	$	6,459	$	(14,985)
Natural gas derivatives	9,352		19,085		(10,339)
Total	$	(908)	$	25,544	$	(25,324)

The following table represents the Company’s net cash receipts (payments on) commodity derivatives for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Net cash receipts from (payments on) commodity derivatives
Oil derivatives	$	1,503	$	4,576	$	(23,695)
Natural gas derivatives	14,860		18,319		(18,742)
Total	$	16,363	$	22,895	$	(42,437)

Common Stock Warrants

On October 24, 2022, in connection with the Business Combination, the Company issued 10,349,975 common stock warrants. Each warrant entitled the holder to purchase one share of Granite Ridge’s common stock at an exercise price of $11.50 per share. The common stock warrants became exercisable 30 days after the completion of the Business Combination and 461 common stock warrants were exercised during the period they were outstanding.

On June 22, 2023, the Company issued 2,471,738 shares of common stock in exchange for 9,887,035 warrants tendered in the Offer, with a minimal cash settlement in lieu of partial shares. In July 2023, each remaining outstanding warrant was converted into 0.225 shares of the Company’s common stock, and subsequently, no warrants remained outstanding.

The fair value of the common stock warrants as of December 31, 2022 was a liability of $11.9 million. The Company recognized a loss of $5.7 million and a gain of $0.4 million during 2023 and 2022, respectively, from the change in fair value of the warrant liability in the consolidated statements of operations. The warrants exchanged in the Offer were marked to fair value on the date of settlement, and the liability of $17.0 million and $0.7 million related to the exchanged common stock warrants was removed from the consolidated balance sheet in June 2023 and July 2023, respectively, and the issuance of shares of the Company’s common stock was reflected in stockholders’ equity. See Note 9 for further discussion of the Warrant Exchange.

Cover	12 Months Ended
Cover	Dec. 31, 2024
Cover [Abstract]
Documents Incorporated by Reference	Documents incorporated by reference: Portions of the definitive proxy statement related to the registrant's 2025 Annual Meeting of Stockholders to be filed pursuant to Regulation 14A are incorporated by reference into Part III of this Annual Report on Form 10-K.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Adoption of ASU No. 2016-13 (Note 2)	As of January 1, 2023	Previous Partnerships' Capital Existing Until the Recapitalization of Granite Ridge Resources, Inc.	Previous Partnerships' Capital Existing Until the Recapitalization of Granite Ridge Resources, Inc. As of January 1, 2023	Common Stock Issued	Common Stock Issued As of January 1, 2023	Additional Paid-in Capital	Additional Paid-in Capital As of January 1, 2023	Retained Earnings	Retained Earnings Adoption of ASU No. 2016-13 (Note 2)	Retained Earnings As of January 1, 2023	Treasury Stock	Treasury Stock As of January 1, 2023
Balance at beginning of period at Dec. 31, 2021	$ 474,930			$ 474,930		$ 0		$ 0		$ 0			$ 0
Balance at beginning of period (in shares) at Dec. 31, 2021						0
Begging balance, treasury stock (in shares) at Dec. 31, 2021													0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income prior to Business Combination	219,292			219,292
Contribution of Funds' assets in exchange for common stock (in shares)						130,000,000
Contribution of Funds' assets in exchange for common stock	0			(694,222)		$ 13		694,209
Recapitalization (in shares)						2,923,000
Recapitalization	6,825							6,825
Issuance costs	(18,508)							(18,508)
Issuance of common stock warrants	(12,265)							(12,265)
Issuance of vesting shares (in shares)						372,000
Issuance of vesting shares	(1,287)							(1,287)
Deferred income tax liability at Business Combination	(36,899)							(36,899)
Purchase of treasury stock (in shares)													(26,000)
Purchase of treasury stock	(229)												$ (229)
Common stock dividend declared	(10,664)									(10,664)
Net income subsequent to the Business Combination	43,052									43,052
Net income	262,344
Balance at ending of period at Dec. 31, 2022	664,247	$ (118)	$ 664,129	0	$ 0	$ 13	$ 13	632,075	$ 632,075	32,388	$ (118)	$ 32,270	$ (229)	$ (229)
Balance at ending of period (in shares) at Dec. 31, 2022						133,295,000	133,295,000
Ending balance, treasury stock (in shares) at Dec. 31, 2022													(26,000)	(26,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of treasury stock (in shares)													(5,652,000)
Purchase of treasury stock	(36,096)												$ (36,096)
Common stock dividend declared	(58,587)									(58,587)
Grants of restricted stock (in shares)						403,000
Forfeitures of restricted stock (in shares)						(13,000)
Cancellation of vesting shares (in shares)						(221,000)
Vesting shares	1,287							1,287
Stock-based compensation	2,162							2,162
Common stock issued in warrant exchange (in shares)						2,576,000
Common stock issued in warrant exchange	17,646					$ 1		17,645
Common stock issued for exercise of warrants (in shares)						1,000
Common stock issued for exercise of warrants	5							5
Net income	81,099									81,099
Balance at ending of period at Dec. 31, 2023	$ 671,645			0		$ 14		653,174		54,782			$ (36,325)
Balance at ending of period (in shares) at Dec. 31, 2023	136,040,777					136,041,000
Ending balance, treasury stock (in shares) at Dec. 31, 2023	(5,677,627)												(5,678,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of treasury stock (in shares)													(6,000)
Purchase of treasury stock	$ (40)												$ (40)
Excise tax adjustments on treasury stock	185
Common stock dividend declared	(57,494)									(57,494)
Grants of restricted stock (in shares)						383,000
Forfeitures of restricted stock (in shares)						(6,000)
Stock-based compensation	2,298							2,298
Net income	18,759									18,759
Balance at ending of period at Dec. 31, 2024	$ 635,353			$ 0		$ 14		$ 655,472		$ 16,047			$ (36,180)
Balance at ending of period (in shares) at Dec. 31, 2024	136,417,677					136,418,000
Ending balance, treasury stock (in shares) at Dec. 31, 2024	(5,683,921)												(5,684,000)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of disaggregated revenues by operation and geographic location

The following tables present the disaggregation of the Company’s oil and natural gas revenues by basin for the years ended December 31, 2024, 2023 and 2022.


	Year Ended December 31,
(in thousands)	2024		2023		2022
Oil	$	327,491	$	317,099	$	338,163
Natural gas	52,539		76,970		159,254
Total	$	380,030	$	394,069	$	497,417


Permian	$	238,052	$	237,730	$	266,856
Eagle Ford	54,399		46,410		64,879
Bakken	40,358		51,128		64,999
Haynesville	16,776		24,833		62,743
DJ	29,980		33,968		37,880
SCOOP/STACK	—		—		60
Appalachian	465		—		—
Total	$	380,030	$	394,069	$	497,417

Stock Incentive Plan - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,298	$ 2,162	$ 0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,872	1,081
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	210	47
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	216	234
Other Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 0	$ 800

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On the Closing Date of the Business Combination, Grey Rock Administration, LLC (the “Manager”) entered into a Management Services Agreement with Granite Ridge (the “MSA”). Under the MSA, the Manager provides general management, administrative, and operating services covering the oil and gas assets and other properties of the Company and other day-to-day business and affairs of the Company. In accordance with the MSA, the Company pays the Manager an annual services fee of $10.0 million and reimburses the Manager for certain Granite Ridge group costs related to the operation of the Company’s assets (including for third party costs allocated or attributable to the assets of the Company). The initial term of the MSA expires on April 30, 2028; however, the MSA will automatically renew for additional consecutive one-year renewal terms until terminated in accordance with its terms. Upon any termination of the MSA, the Manager shall provide transition services for a period of up to 90 days. For the years ended December 31, 2024, 2023 and 2022, service fees for the Company under the MSA were approximately $10.0 million, $10.0 million, and $1.9 million, respectively. Prior to the Transaction, the Funds paid management fees to an investment advisor under common control with the Funds as compensation for providing managerial services to the Company. For the year ended December 31, 2022, total management fees for the Company were $7.9 million and are included in general and administrative expenses within the accompanying consolidated statements of operations. During the year ended December 31, 2024, the Company divested of partial interests in certain unproved oil and natural gas properties to an affiliate of the Manager for consideration of $7.5 million. No gain or loss was recognized on the sale.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Fair Value Measurements - Carrying amounts and fair values of financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Carrying Value
Assets:
Derivative instruments - commodity derivatives	$ 537	$ 12,306
Equity investments	31,783	50,427
Liabilities:
Revolving credit facilities	205,000	110,000
Derivative instruments - commodity derivatives	5,501	0
Fair Value
Assets:
Derivative instruments - commodity derivatives	537	12,306
Equity investments	31,783	50,427
Liabilities:
Revolving credit facilities	205,000	110,000
Derivative instruments - commodity derivatives	$ 5,501	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477439/946-210-55-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 30: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

+ Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 28: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

+ Details

- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482736/825-10-45-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation As it pertains to periods prior to completion of the Business Combination, the financial statements have been presented on a combined historical basis due to the Funds' prior common ownership and control. Prior to the Business Combination, the financial statements include the accounts of the Funds, all of which were commonly owned and controlled. All inter-entity balances and transactions have been eliminated in combination. As it pertains to periods subsequent to completion of the Business Combination, the accompanying consolidated financial statements also include the accounts of the Company and all other wholly owned subsidiaries created in connection with the Business Combination. References to the “Company” prior to October 24, 2022 refer to the combined business of the Funds and references after October 24, 2022 refer to the consolidated business of Granite Ridge Resources, Inc.
Basis of Presentation	Basis of Presentation As a result of the Business Combination, periods prior to October 24, 2022 reflect the Funds as limited partnerships, not as corporations. The primary financial impacts of the Transactions to the consolidated financial statements were (i) reclassification of partnership capital accounts to equity accounts reflective of a corporation and (ii) income tax effects. Since the Funds were identified as entities under common control, the consolidated financial statements for periods prior to the GREP Formation Transaction have been adjusted to retrospectively combine the previously separate entities for presentation purposes. All intercompany transactions within the consolidated businesses of the Company have been eliminated. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Segment Reporting	Segment Reporting The Company operates in one reporting segment, which is oil and natural gas development, exploration and production. All of our operations are conducted in the geographic area of the United States. The reporting segment generates revenue through the sale of oil and natural gas. The Company’s chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer, manages operations on a consolidated basis for purposes of evaluating operational performance and allocating resources. Net income, as reported within the Company’s consolidated statement of operations, is used by the CODM to assess performance for the oil and natural gas development, exploration and production segment. Significant segment expenses are the same as those reported in the consolidated statement of operations. Total assets, as reported within the Company’s consolidated balance sheets, is the measure of segment assets.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates of reserves are used to determine depletion and to conduct impairment analysis. Estimating reserves is inherently uncertain, including the projection of future rates of production and the timing of development expenditures. The Company’s estimates of oil and natural gas reserves are, by necessity, projections based on geologic and engineering data, and there are uncertainties inherent in the interpretation of such data as well as the projection of future rates of production and the timing of development expenditures. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that are difficult to measure. The accuracy of any reserve estimate is a function of the quality of available data, engineering and geological interpretation and judgment. Estimates of economically recoverable oil and natural gas reserves and future net cash flows necessarily depend upon a number of variable factors and assumptions, such as historical production from the area compared with production from other producing areas, the assumed effect of regulations by governmental agencies, and assumptions governing future oil and natural gas prices, future operating costs, severance taxes, development costs and workover costs, all of which may in fact vary considerably from actual results. The future drilling costs associated with reserves assigned to proved undeveloped locations may ultimately increase to the extent that these reserves are later determined to be uneconomic. For these reasons, estimates of the economically recoverable quantities of expected oil and natural gas attributable to any particular group of properties, classifications of such reserves based on risk of recovery, and estimates of the future net cash flows may vary substantially. Any significant variance in the assumptions could materially affect the estimated quantity of the reserves, which could affect the carrying value of the Company’s oil and natural gas properties and/or the rate of depletion related to the oil and natural gas properties. Additional significant estimates include, but are not limited to, fair value of derivative financial instruments, fair value of assets acquired and liabilities assumed for business combinations, fair value of oil and natural gas properties for impairment, asset retirement obligations, revenue receivable and income taxes. Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain reclassifications have been made to prior years' reported amounts to conform to the current year presentation.
Cash and Restricted Cash	Cash and Restricted Cash Cash represents liquid cash and investments with an original maturity of 90 days or less. The Company places its cash with reputable financial institutions. At times, the balances deposited may exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). However, management believes that the Company’s counterparty risks are minimal based on the reputation and history of the institutions selected. The Company has not incurred any losses related to amounts in excess of FDIC limits. Restricted cash consists of cash that is stated at cost, which approximates fair market value. Classification of restricted cash is based on the nature of the restrictions associated with the underlying assets. As of December 31, 2023, the Company had $0.3 million of cash classified as restricted. The restricted balance related to a cash deposit for two standby letters of credit associated with oil and natural gas mining lease agreements. During 2024, the standby letters of credit were terminated and, as a result, the Company has no restricted cash at December 31, 2024.
Revenue Receivable	Revenue Receivable Revenue receivable is comprised of accrued oil and natural gas sales. The operators remit payment for production directly to the Company. In the event of complete non-performance by the Company’s customers, the maximum exposure to the Company is the outstanding revenue receivable balance at the date of non-performance. The Company monitors this exposure primarily by reviewing credit ratings, financial statements and payment history. Revenue receivables are generally unsecured and are typically received from the operator one to three months after production. As of December 31, 2024 and 2023, the Company had an allowance for expected credit losses of $0.2 million, which was based on a historical loss rate. The Company considers forecasts of future economic conditions in the estimate of its expected credit losses, in particular whether there is an increase in the probability that the Company’s counterparties are unable to pay their obligations when due, and adjusts its allowance for expected credit losses when necessary.
Advance to Operators	Advance to Operators The Company participates in the drilling of oil and natural gas wells with other working interest partners. Due to the capital-intensive nature of oil and natural gas drilling activities, our partner operators may request advance payments from working interest partners for their share of the costs. The Company expects such advances to be applied by these operators against joint interest billings for its share of drilling operations within 90 days from when the advance is paid. Changes in advances to operators are presented as an investing outflow within capital expenditures for oil and natural gas properties on the consolidated statements of cash flows.
Oil and Natural Gas Properties	Oil and Natural Gas Properties The Company uses the successful efforts method of accounting for oil and natural gas producing activities, as further defined under ASC 932, "Extractive Activities - Oil and Gas" (“ASC 932”). Costs to acquire mineral interests in oil and gas properties, to drill and equip exploratory leases that find proved reserves, and to drill and equip development leases and related asset retirement costs are capitalized. Costs to drill exploratory wells are capitalized pending determinations of whether the wells have proved reserves. If the Company determines that the wells do not have proved reserves, the costs are charged to expense. There were no exploratory wells capitalized pending determinations of whether the wells have proved reserves as of December 31, 2024 or 2023. Capitalized leasehold costs relating to proved properties are depleted using the unit-of-production method based on proved reserves. The depletion of capitalized drilling and development costs and integrated assets is based on the unit-of-production method using proved developed reserves. The Company recognized depletion expense of $175.7 million, $160.2 million and $105.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. As a result of the Business Combination, the Company aggregated certain proved properties for amortization and impairment purposes. Costs of significant nonproducing properties, wells in the process of being drilled and completed and development projects are excluded from depletion until the related project is completed. Costs incurred to maintain wells and related equipment are charged to expense as incurred. The Company capitalizes interest on expenditures for significant exploration and development projects that last more than six months while activities are in progress to bring the assets to their intended use. No interest costs were capitalized for the years ended December 31, 2024 and 2022. For the year ended December 31, 2023, $1.0 million of interest costs were capitalized. Gains or losses are recorded for sales or dispositions of proved oil and gas properties which constitute an entire depletion base or from the sale of less than an entire depletion base if the disposition is significant enough to materially impact the depletion rate of the remaining properties in the depletion base. Dispositions of individual properties that do not significantly alter the depletion rates are generally accounted for as adjustments to capitalized costs with no gain or loss recorded. The Company reviews its long-lived assets to be held and used, including proved oil and natural gas properties, whenever events or circumstances indicate that the carrying value of those assets may not be recoverable; for instance, when there are declines in commodity prices or well performance. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. For each property determined to be impaired, an impairment loss equal to the difference between the carrying value of the properties and the estimated fair market value is recognized at that time. The fair value of impaired assets is determined using the market or income valuation approach. The income approach is calculated using a discounted cash flow model. Discounted future cash flows use a discount rate similar to that used by market participants, or comparable market value if available. Estimating future cash flows involves the use of judgments, including estimation of the proved and risk-adjusted unproved oil and natural gas reserve quantities, timing of development and production, expected future commodity prices, capital expenditures and production costs. The Company recorded proved property impairment of $35.6 million and $26.5 million for the years ended December 31, 2024 and 2023, respectively. There were no proved property impairment indicators for the year ended December 31, 2022. Unproved oil and natural gas properties are periodically assessed for impairment by considering future drilling and exploration plans, results of exploration activities, commodity price outlooks, planned future sales and expiration of all or a portion of the projects. The Company recorded unproved oil and gas properties impairment of $0.7 million for the year ended December 31, 2024. The Company did not record any unproved oil and gas properties impairment for the years ended December 31, 2023 or 2022.
Derivative Instruments - Commodity Derivatives	Derivative Instruments- Commodity Derivatives The Company recognizes its derivative instruments as either assets or liabilities measured at fair value. The Company nets the fair value of the derivative instruments by counterparty in the accompanying consolidated balance sheets when the right of offset exists. The Company does not have any derivatives designated as fair value or cash flow hedges.
Derivative Instruments - Common Stock Warrants	Derivative Instruments- Common Stock Warrants Prior to the Warrant Exchange, the Company accounted for warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”) and ASC Topic 815, "Derivatives and Hedging" (“ASC 815”). The warrants were required to be recorded at their initial fair value on the date of issuance and each balance sheet date thereafter. Changes in the estimated fair value of the warrants were recognized as a non-operating gain or loss in the consolidated statements of operations. For the period during which the Company’s common stock was publicly traded, the fair value of the warrants was based on quoted prices in an active market. On June 22, 2023, the Company issued 2,471,738 shares of common stock in exchange for 9,887,035 warrants tendered in the Offer. In July 2023, each remaining outstanding warrant was converted into 0.225 shares of the Company’s common stock, and subsequently, no warrants remained outstanding.
Equity Investments	Equity Investments In December 2023, the Company completed the sale of certain of its Permian Basin assets to Vital Energy, Inc. ("Vital Energy") for consideration of 561,752 shares of Vital Energy's common stock and 541,155 shares of Vital Energy's 2.0% cumulative mandatorily convertible preferred securities. On June 4, 2024, the 2.0% cumulative mandatorily convertible preferred securities were converted into the equivalent number of shares of Vital Energy’s common stock. During the year ended December 31, 2024, the Company divested 75,000 shares of Vital Energy’s common stock and realized a gain on sale of $0.1 million included in gain (loss) on equity investments within the Company’s consolidated statements of operations. The Company follows the guidance in ASC 321, "Investments - Equity Securities" (“ASC 321”) for its investment in the common and preferred stock of Vital Energy. ASC 321 requires equity investments with readily determinable fair values to be measured at fair value, with unrealized holding gains and losses recorded as a gain or loss in the consolidated statements of operations. For the preferred stock that did not have a readily determinable fair value, the Company did not elect the measurement alternative in ASC 321 and instead accounted for the preferred stock at fair value with unrealized gains and losses recorded through net income for the periods until the preferred stock was converted into common stock. For the year ended December 31, 2024, an unrealized loss of $15.3 million is included in gain (loss) on equity investments within the Company's consolidated statements of operations that reflects the change in fair value of the common stock. For the year ended December 31, 2023, the Company recorded an unrealized gain of $0.5 million related to the Vital Energy common and preferred shares.
Asset Retirement Obligation	Asset Retirement Obligations The Company follows the provisions of ASC 410-20, "Asset Retirement Obligations" ("ASC 410-20"). ASC 410-20 requires entities to record the fair value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The Company’s asset retirement obligations relate to the plugging, dismantlement, removal, site reclamation and similar activities of its oil and natural gas properties. When the liability is initially recorded, the entity capitalizes a cost by increasing the carrying amount of the related oil and natural gas property asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depleted over the useful life of the related asset. Based on certain factors, including commodity prices and costs, the Company may revise its previous estimates of the liability, which would also increase or decrease the related oil and natural gas property asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss for the difference of the settled amount and recorded liability. Asset retirement obligations are estimated at the present value of expected future net cash flows and are discounted using the Company’s credit adjusted risk free rate. The Company uses unobservable inputs in the estimation of asset retirement obligations that include, but are not limited to, costs of labor, costs of materials, profits on costs of labor and materials, the effect of inflation on estimated costs, and the discount rate. Due to the subjectivity of assumptions and the relatively long lives of the Company’s leases, the costs to ultimately retire the Company’s leases may vary significantly from prior estimates.
Revenue Recognition	Revenue Recognition The Company’s revenues are primarily derived from its interests in the sale of oil and natural gas production. The Company recognizes revenue from its interests in the sales of oil and natural gas in the period that its performance obligations are satisfied. Performance obligations are satisfied when the customer obtains control of the product, when the Company has no further obligations to perform related to the sale, when the transaction price has been determined, and when collectability is probable. The Company receives payment from the sale of oil and natural gas production from one to three months after delivery. The transaction price is variable as it is based on market prices for oil and natural gas, less revenue deductions such as gathering, transportation and compression costs. Management has determined that the variable revenue constraint is overcome at the date control passes to the customer since the variable consideration to be received can be reasonably estimated based on daily market prices and historical transportation charges. Revenue is presented net of these costs within the consolidated statements of operations. At the end of each month when the performance obligation is satisfied, the variable consideration can be reasonably estimated and amounts due from customers are accrued in revenue receivable in the consolidated balance sheets. Variances between the Company’s estimated revenue and actual payments are recorded in the month the payment is received; however, differences have been and are insignificant. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical expedient in accordance with ASC 606. The expedient, as described in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required.
Non-operated Crude Oil and Natural Gas Reserves	Non-operated Crude Oil and Natural Gas Revenues The Company’s proportionate share of production from non-operated properties is generally marketed at the discretion of the operators. For non-operated properties, the Company receives a net payment from the operator representing its proportionate share of sales proceeds, which is net of revenue deductions such as gathering, transportation and compression costs incurred by the operator. Such non-operated revenues are recognized at the net amount of proceeds to be received by the Company during the month in which production occurs and it is probable the Company will collect the consideration it is entitled to receive. Proceeds are generally received by the Company within one to three months after the month in which production occurs.
Take-in Kind Oil and Natural Gas Reserves	Take-in Kind Oil and Natural Gas Revenues Under certain arrangements, the Company has the right to take a volume of unprocessed gas in kind at the operator's wellhead, representing its proportionate share of its natural gas production, in lieu of receiving a net payment from the operator. The Company currently takes certain natural gas volumes in kind in lieu of monetary settlement. When the Company elects to take volumes in kind, it pays third parties to transport the natural gas it took in kind to downstream delivery points, where it then sells to customers at prices applicable to those downstream markets. In such situations, revenues are recognized during the month in which control transfers to the customer at the delivery point and it is probable the Company will collect the consideration it is entitled to receive. Sales proceeds are generally received by the Company within one month after the month in which a sale has occurred. In these scenarios, gathering and processing costs and transportation expenses the Company incurs to transport the volumes to downstream customers are recorded in lease operating expenses in the consolidated statements of operations.
Lease Operating Expenses	Lease Operating Expenses Lease operating expenses represents field employees’ salaries, saltwater disposal, repairs and maintenance, expensed workovers and other operating expenses. Lease operating expenses are expensed as incurred.
Production and Ad Valorem Taxes	Production and Ad Valorem Taxes The Company incurs production taxes on the sale of its production. These taxes are reported on a gross basis. Production taxes for the years ended December 31, 2024, 2023 and 2022 were approximately $21.0 million, $24.9 million and $26.9 million, respectively. The Company incurs ad valorem tax on the value of its properties in certain states. Ad valorem taxes for the years ended December 31, 2024, 2023 and 2022 were approximately $5.0 million, $2.8 million and $3.7 million, respectively.
Income Taxes	Income Taxes Prior to the Business Combination, GREP and the associated activities held by the Funds were treated as partnerships for U.S. federal income tax purposes and were not subject to U.S. federal income tax. As a result of the Business Combination, the Company became a C corporation and is subject to U.S. federal income tax and state and local income taxes, and accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rate on deferred income tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred income taxes if it is more likely than not these items will either expire before the Company is able to realize their benefits or if future deductibility is uncertain. Additionally, the Company evaluates tax positions under a more likely than not recognition threshold and measurement analysis before the positions are recognized for financial statement reporting.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense is recognized in the Company's consolidated financial statements on an accelerated basis over the awards' vesting periods based on their grant date fair values. Restricted stock awards are valued at the closing price of the Company's common stock on the date of grant. The Company utilizes the Monte Carlo simulation method to determine the fair value of certain performance stock units ("PSUs"), the Black-Scholes model for options issued at-the-money and a binomial lattice model for other stock options. The Company recognizes forfeitures of stock-based compensation awards as they occur.
Recently Issued and Applicable Accounting Pronouncements (Issued and Not Yet Adopted)	Recently Issued and Applicable Accounting Pronouncements (Issued and Not Yet Adopted) In December 2023, the FASB issued ASU 2023-09, "Improvements to Income Tax Disclosures" ("ASU 2023-09") which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company has not early adopted the standard and is currently assessing the effect that ASU 2023-09 will have on its disclosures. In November 2024, the FASB issued ASU 2024-03, "Disaggregation of Income Statement Expenses", ("ASU 2024-03") which requires enhanced disclosure about specific types of expenses included in the expense captions presented on the face of the consolidated income statement as well as disclosures about selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company has not early adopted the standard and is currently assessing the effect that ASU 2024-03 will have on its disclosures. Recently Issued and Applicable Accounting Pronouncements (Issued and Adopted) The FASB issued ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which replaced the “incurred loss” methodology for recognizing credit losses with an “expected loss” methodology. This new methodology requires that a financial asset measured at amortized cost be presented at the net amount expected to be collected. This standard is intended to provide more timely decision-useful information about the expected credit losses on financial instruments. The adoption of this guidance on January 1, 2023 did not have a material impact on the Company’s consolidated financial statements or related disclosures. Revenue receivable is the primary financial asset that is within the scope of the new guidance. A loss-rate method is applied to the receivables to estimate credit losses. The Company recognized a tax effected $0.1 million non-cash cumulative effect adjustment to retained earnings on its opening consolidated balance sheet at January 1, 2023 to record an allowance for expected credit losses associated with the Company’s revenue receivable. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", ("ASU 2023-07") which requires public entities, including public entities with a single reportable segment, to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets. ASU 2023-07 was effective for annual periods beginning after December 15, 2023, and is effective for interim periods beginning after December 15, 2024. The Company adopted this accounting standard beginning in this Annual Report on Form 10-K. See Segment Reporting section of this note for enhanced disclosures resulting from the adoption of ASU 2023-07.

Earnings Per Share - Schedule of diluted earnings per share, diluted securities (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	536,394	327,233	0
Amended Warrant Agreement Offer
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants outstanding (in shares)	0			0
Antidilutive securities excluded from computation of earnings per share, amount (in shares)			10,349,975
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	44,649	23,428	0
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	491,745	303,805	0

Stock Incentive Plan - Stock Option Activity (Details) - Stock Options $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Stock Options
Beginning balance (in shares) \| shares	392,108
Options granted (in shares) \| shares	134,375
Options canceled/forfeited (in shares) \| shares	0
Options exercised (in shares) \| shares	0
Ending balance (in shares) \| shares	526,483
Options exercisable (in shares) \| shares	306,195
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 8.45
Options granted (in dollars per share) \| $ / shares	6.06
Options canceled/forfeited (in dollars per share) \| $ / shares	0
Options exercised (in dollars per share) \| $ / shares	0
Outstanding, ending balance (in dollars per share) \| $ / shares	7.84
Options exercisable, (in dollars per share) \| $ / shares	$ 8.10
Aggregate intrinsic value
Outstanding, aggregate intrinsic value \| $	$ 158
Options exercisable \| $	$ 87

Summary of Significant Accounting Policies - Oil and natural gas properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Exploratory wells capitalized whose proved reserves are yet to be determined	$ 0	$ 0
Depletion	175,700	160,200	$ 105,300
Interest costs capitalized	0	1,000
Impairment of oil and gas properties	35,600	26,500	0
Unproved property impairment	$ 700	$ 0	$ 0

Related Party Transactions (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 24, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related party transactions
Proceeds from the disposal of oil and natural gas properties		$ 13,995	$ 60	$ 4,845
Related Party \| Grey Rock Administration, LLC (the Manager)
Related party transactions
Related Party Transaction, Amounts of Transaction	$ 10,000
Oil and gas management agreement, renewal term	1 year
Oil and gas management agreement, transition services term	90 days
Management service fees		10,000	$ 10,000	1,900
Management fees paid				$ 7,900
Related Party \| Affiliate of the "Manager"
Related party transactions
Proceeds from the disposal of oil and natural gas properties		7,500
Gain (loss) on disposition of unproved property		$ 0

Acquisitions and Divestitures - Fair value of assets acquired and liabilities assumed (Details) - 2023 Acquisitions $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Fair value of assets acquired and liabilities assumed
Total oil and natural gas properties	$ 32,033
Less: Asset retirement obligations	(341)
Net assets acquired	31,692
Consideration transferred (including liabilities assumed)	31,692
Asset retirement costs	341
Proved Oil and Natural Gas Properties
Fair value of assets acquired and liabilities assumed
Total oil and natural gas properties	15,488
Unproved Oil and Natural Gas Properties
Fair value of assets acquired and liabilities assumed
Total oil and natural gas properties	$ 16,545

Derivative Financial Instruments - Impact of commodity derivatives on earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative instruments
Gain (loss) on commodity derivatives	$ (908)	$ 25,544	$ (25,324)
Net cash receipts from (payments on) commodity derivatives	16,363	22,895	(42,437)
Oil derivatives
Derivative instruments
Gain (loss) on commodity derivatives	9,352	6,459	(14,985)
Net cash receipts from (payments on) commodity derivatives	1,503	4,576	(23,695)
Natural gas derivatives
Derivative instruments
Gain (loss) on commodity derivatives	(10,260)	19,085	(10,339)
Net cash receipts from (payments on) commodity derivatives	$ 14,860	$ 18,319	$ (18,742)

Acquisitions and Divestitures - Schedule of Disaggregated Revenues by Operation and Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	$ 64,157	$ 46,875
Permian
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	46,494	24,534
Eagle Ford
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	0	2,800
Bakken
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	1,981	0
Haynesville
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	0	2,921
DJ
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	5,325	16,620
Appalachian
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred	$ 10,357	$ 0

Organization and Nature of Operations	12 Months Ended
Organization and Nature of Operations	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Granite Ridge Resources, Inc. (together with its consolidated subsidiaries, “Granite Ridge” or the “Company”) is a Delaware corporation, initially formed in May 2022, whose common stock is listed and traded on the New York Stock Exchange (“NYSE”). The Company was created for the purpose of the Business Combination (as defined below), and following the Business Combination, for the purpose of purchasing non-operated oil and natural gas assets in multiple basins in North America and realizing profits through participation in oil and natural gas wells. On October 24, 2022, the Business Combination closed and was accounted for as a reverse recapitalization and Grey Rock Energy Fund III (as defined below) was determined to be the accounting acquirer and Predecessor (as defined below). Unless otherwise indicated, for the periods prior to October 24, 2022, (i) the historical financial data in this Annual Report on Form 10-K and (ii) the operating and other non-financial data, disclosed in “Part II – Management’s Discussion and Analysis of Financial Condition and Results of Operations” (collectively the “Financial Statement Sections”) reflect the combined business and operations of the Funds (as defined below). Business Combination On October 24, 2022 (the “Closing Date”), Granite Ridge and Executive Network Partnering Corporation, a Delaware corporation (“ENPC”), consummated the Business Combination pursuant to the terms of the Business Combination Agreement, dated as of May 16, 2022 (the “Business Combination Agreement”), by and among ENPC, Granite Ridge, ENPC Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Granite Ridge (“ENPC Merger Sub”), GREP Merger Sub, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Granite Ridge (“GREP Merger Sub”), and Granite Ridge Holdings, LLC, a Delaware limited liability company formerly known as GREP Holdings, LLC (“GREP”). Pursuant to the Business Combination Agreement, on the Closing Date, (i) ENPC Merger Sub merged with and into ENPC (the “ENPC Merger”), with ENPC surviving the ENPC Merger as a wholly-owned subsidiary of Granite Ridge and (ii) GREP Merger Sub merged with and into GREP (the “GREP Merger,” and together with the ENPC Merger, the “Mergers”), with GREP surviving the GREP Merger as a wholly-owned subsidiary of Granite Ridge (the transactions contemplated by the foregoing clauses (i) and (ii) the “Business Combination,” and together with the other transactions contemplated by the Business Combination Agreement, the “Transactions”). Immediately prior to the closing of the Transactions, the net assets of Grey Rock Energy Fund, L.P., a Delaware limited partnership (“Fund I”), Grey Rock Energy Fund II, L.P., a Delaware limited partnership (“Fund II-A”), Grey Rock Energy Fund II-B, L.P., a Delaware limited partnership (“Fund II-B”) and Grey Rock Energy Fund II-B Holdings, L.P., a Delaware limited partnership (“Fund II-B Holdings”, and together with Fund II-A and Fund II-B, collectively, “Fund II”), and Grey Rock Energy Fund III-A, L.P., a Delaware limited partnership (“Fund III-A”), Grey Rock Energy Partners Fund III-B, L.P., a Delaware limited partnership (“Fund III-B”), and Grey Rock Energy Fund III-B Holdings, L.P., a Delaware limited partnership (“Fund III-B Holdings” and together with Fund III-A and Fund III-B, collectively, “Fund III” or “Predecessor”) were transferred (through various intermediary entities) to GREP (the “GREP Formation Transaction”). Fund I, Fund II and Fund III are collectively referred to herein as the “Funds”. At the special meeting of ENPC stockholders held in connection with the Business Combination, of the 41,400,000 shares of ENPC Class A common stock, public stockholders of 39,343,496 shares of ENPC Class A common stock exercised their rights to have those shares redeemed for cash at a redemption price of approximately $10.07 per share, or an aggregate of approximately $396.1 million. The holders of membership interests in GREP (the “Existing GREP Members”) and their direct and indirect members were issued 130.0 million shares of Granite Ridge common stock at the closing. Upon consummation of the Business Combination, each public stockholder’s ENPC common stock and ENPC warrants were automatically converted into an equivalent number of shares of Granite Ridge common stock and Granite Ridge warrants as a result of the Transactions. At the effective time of the Mergers, (i) 495,357 shares of ENPC Class F common stock were converted to 1,238,393 shares of ENPC Class A common stock (of which an aggregate of 220,348 shares were subsequently forfeited pursuant to the terms of the Sponsor Agreement, dated as of May 16, 2022, by and among ENPC, Granite Ridge, and certain other parties thereto (the "Sponsor Agreement")) and the remaining shares of ENPC Class F common stock outstanding were automatically cancelled for no consideration (the “ENPC Class F Conversion”) (ii) all other remaining shares of ENPC Class A common stock automatically cancelled without any conversion, payment or distribution (the “Sponsor Share Cancellation”) and (iii) all shares of ENPC Class B common stock outstanding were deemed transferred to ENPC and surrendered and forfeited for no consideration (the “ENPC Class B Contribution”). In January 2023, 220,348 of the 371,518 shares subject to vesting and forfeiture provisions under the terms of the Sponsor Agreement were forfeited. Following the ENPC Class F Conversion, the Sponsor Share Cancellation, the ENPC Class B Contribution and the separation of the securities offered in ENPC’s initial public offering, which consisted of one share of Class A common stock and one-quarter of one ENPC warrant (“CAPSTM Separation”), each share of ENPC Class A common stock outstanding was automatically converted into one share of Granite Ridge common stock. Total aggregate investment by ENPC was $6.8 million, which amount represents total risk capital contributed by ENPC, including working capital loans that were forgiven. Fund III, Fund I and Fund II were identified as entities under common control, in which all entities are ultimately controlled by the same party before and after the GREP Formation Transaction and therefore resulted in a change in reporting entity. In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805-50-45-5, for transactions between entities under common control, the consolidated financial statements for periods prior to the GREP Formation Transaction have been adjusted to retrospectively combine the previously separate entities for presentation purposes. Warrant Exchange On October 24, 2022, in connection with the Business Combination, the Company issued 10,349,975 common stock warrants. On June 22, 2023, the Company completed an offer to holders of its outstanding warrants which provided such holders the opportunity to receive 0.25 shares of the Company’s common stock in exchange for each warrant tendered by such holders (the “Offer”). This Offer coincided with a solicitation of consents from holders of the warrants to amend the warrant agreement governing such warrants to permit the Company to require that each warrant that remained outstanding upon the closing of the Offer be exchanged for 0.225 shares of the Company’s common stock (together with the Offer, the “Warrant Exchange”). On June 22, 2023, the Company issued 2,471,738 shares of common stock in exchange for 9,887,035 warrants tendered in the Offer, with a minimal cash settlement in lieu of partial shares. In July 2023, each remaining outstanding warrant was converted into 0.225 shares of the Company’s common stock, and subsequently, no warrants remained outstanding. See Note 9 for further discussion of the Warrant Exchange.

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset retirement obligations
Asset retirement obligations, beginning of year	$ 9,874	$ 4,963	$ 2,962
Liabilities incurred during the period	760	2,370	1,012
Revision of estimates	0	2,596	490
Accretion of discount during the period	791	441	499
Disposals or settlements	(504)	(496)	0
Asset retirement obligations, end of year	10,921	9,874	4,963
Less current portion of asset retirement obligations	228	483	218
Asset retirement obligations, long-term	$ 10,693	$ 9,391	$ 4,745

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various possible contingencies that arise primarily from interpretation of federal and state laws and regulations affecting the oil and gas industry. Such contingencies include differing interpretations as to the prices at which oil and natural gas sales may be made, the prices at which royalty owners may be paid for production from their leases, environmental issues and other matters. Although management believes that it has complied with the various laws and regulations, administrative rulings and interpretations thereof, adjustments could be required as new interpretations and regulations are issued. In addition, environmental matters are subject to regulation by various federal and state agencies. On the Closing Date of the Business Combination, the Company entered into the MSA agreement between Granite Ridge and the Manager whereby the Company shall pay the Manager an annual services fee of $10.0 million and shall reimburse the Manager for certain Granite Ridge group costs. The initial term of the MSA expires on April 30, 2028; however, the MSA will automatically renew for additional consecutive one-year renewal terms until terminated in accordance with its terms.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Oil and natural gas sales [Member]	Oil and natural gas sales [Member]	Oil and natural gas sales [Member]
Oil and natural gas sales	$ 380,030	$ 394,069	$ 497,417
Operating costs and expenses:
Lease operating expenses	57,461	60,521	44,678
Production and ad valorem taxes	26,007	27,707	30,619
Depletion and accretion expense	176,529	160,662	105,752
Impairments of long-lived assets	36,369	26,496	0
General and administrative	24,649	27,920	14,223
Other, net	(241)	176	0
Total operating costs and expenses	320,774	303,482	195,272
Net operating income	59,256	90,587	302,145
Other income (expense):
Gain (loss) on derivatives - commodity derivatives	(908)	25,544	(25,324)
Interest expense, net	(18,470)	(5,315)	(1,989)
Gain (loss) on derivatives - common stock warrants	0	(5,742)	362
Gain (loss) on equity investments	(15,183)	508	0
Other income	271	0	0
Total other income (expense)	(34,290)	14,995	(26,951)
Income before income taxes	24,966	105,582	275,194
Income tax expense	6,207	24,483	12,850
Net income	$ 18,759	$ 81,099	$ 262,344
Net income per share:
Basic (in dollars per share)	$ 0.14	$ 0.61	$ 1.97
Diluted (in dollars per share)	$ 0.14	$ 0.61	$ 1.97
Weighted-average number of shares outstanding:
Weighted average common shares outstanding – basic (in shares)	130,189	133,093	132,923
Weighted average common shares outstanding – diluted (in shares)	130,227	133,109	133,074

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued drilling costs	$ 62,346	$ 32,739
Accounts and JIB payable	26,438	20,037
Accrued production costs	7,646	5,729
Other	3,010	2,370
Total accounts payable and accrued liabilities	$ 99,440	$ 60,875

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

The following table provides the components of the Company’s accounts payable and accrued liabilities at December 31, 2024 and December 31, 2023:


	December 31,
(in thousands)	2024		2023
Accounts payable and accrued liabilities:
Accrued drilling costs	$	62,346	$	32,739
Accounts and JIB payable	26,438		20,037
Accrued production costs	7,646		5,729
Other	3,010		2,370
Total accounts payable and accrued liabilities	$	99,440	$	60,875

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	431,000,000	431,000,000
Common stock, shares issued (in shares)	136,417,677	136,040,777
Treasury stock, common shares (in shares)	5,683,921	5,677,627

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

In 2022, the Company became the sole owner of GREP. GREP is a disregarded entity for U.S. federal income tax purposes. As a result of the Business Combination, the Funds' net assets were transferred to the Company resulting in carryover tax basis of those assets. The Company is a C corporation and subject to U.S. federal income tax and state and local income taxes.

The Components of income tax expense were as follows for the periods indicated:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Current
Federal	$	—	$	—	$	—
State	249		209		—
	249		209		—
Deferred
Federal	$	6,449	$	22,314	$	11,444
State	(491)		1,960		1,406
	5,958		24,274		12,850
Income tax expense	$	6,207	$	24,483	$	12,850

The Company's effective tax rate was 24.9%, 23.2% and 4.7% for the years ended December 31, 2024, 2023 and 2022, respectively. For 2024, the effective tax rate differs from the enacted statutory rate of 21% primarily due to the impact of certain discrete items, state income taxes and changes in state tax rates. For 2023, the effective tax rate differed from the enacted statutory rate of 21% primarily due to the impact of certain discrete items and state income taxes.

The following reconciles the income tax expense included in the consolidated statements of operations with the income tax expense that would result from the application of the statutory federal tax rate:


	Year Ended December 31,
(in thousands)	2024			2023			2022
Income before income taxes	$	24,966		$	105,582		$	275,194

Income tax expense at federal statutory rate	5,243			22,172			57,791
Net (income) loss prior to Business Combination - non-taxable	—			—			(46,051)
Impact of prior tax returns	1,487			142			—
State income taxes, net of federal benefit	524			2,169			1,110
Impact of tax rate and apportionment updates	(1,047)			—			—
Income tax expense	$	6,207		$	24,483		$	12,850
Effective tax rate	24.9		%	23.2		%	4.7		%

Significant components of deferred tax assets and liabilities are included in the table below:


	Year Ended December 31,
(in thousands)	2024		2023
Deferred tax assets
Net operating loss carryforwards	$	14,152	$	13,677
Disallowed interest expense carryforward	5,410		1,335
Asset retirement obligations	2,459		2,169
Unrealized derivatives	1,118		—
Unrealized loss on investment	3,327		—
Other deductible temporary differences	831		495
Total deferred tax assets	27,297		17,676
Less: valuation allowance	—		—
Net deferred tax assets	$	27,297	$	17,676

Deferred tax liabilities
Property, plant and equipment	$	(107,243)	$	(88,870)
Unrealized derivatives	—		(2,795)
Total deferred tax liabilities	(107,243)		(91,665)
Net deferred tax liability	$	(79,946)	$	(73,989)

As of December 31, 2024, the Company had accumulated federal net operating loss carryforwards of $63.7 million, none of which are expected to expire, and state net operating loss carryforwards of approximately $63.7 million in states that allow net operating loss carryforward, some of which begin to expire in 2042. Utilization of these net operating losses may be limited if there were to be an ownership change as defined by Section 382 of the U.S. Internal Revenue Code. As of December 31, 2024, the Company does not believe any of its net operating losses were limited under these rules.

The Company is subject to the various taxing jurisdictions in the United States, including federal and certain state jurisdictions. As of December 31, 2024, the Company has no current tax years under audit. The Company remains subject to examination for federal income taxes for tax years 2020 through 2024 and state income taxes for tax years 2019 through 2024.

The Company has evaluated all tax positions for which the statute of limitations remains open and believes that the material positions taken would more likely than not be sustained upon examination. Therefore, as of December 31, 2024 and 2023, the Company had no unrecognized tax benefits and did not recognize any interest or penalties during those respective periods related to unrecognized tax benefits.

On August 16, 2022, the Inflation Reduction Act (the "IRA") was enacted into law and includes significant changes related to tax, climate change, energy and health care. The provisions within the IRA, among other things, include (i) a new 15% corporate alternative minimum tax on certain large corporations, (ii) a new nondeductible 1% excise tax on the value of certain stock that a company repurchases, and (iii) various tax incentives for energy and climate initiatives. Each of these provisions are effective for tax years beginning after December 31, 2022. The Department of the Treasury is expected to continue to publish regulations relevant to many aspects of the IRA. In addition to no 2023 or 2024 impact on income tax expense, the Company currently does not believe that there will be a material impact on its cash taxes or income tax expense for future periods but will continue to monitor.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Fair Value Measurements - Fair values - Narrative (Details) $ in Millions		12 Months Ended
	Jun. 04, 2024 shares	Dec. 31, 2024 USD ($) $ / bbl $ / Mcf shares	Dec. 31, 2023 USD ($) $ / bbl $ / Mcf	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of oil and gas properties \| $		$ 35.6	$ 26.5	$ 0.0
Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long lived asset measurement input (percent)		0.10
Oil commodity prices per barrel 2025 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / bbl		69.87
Oil commodity prices per barrel 2029 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / bbl		63.07
Natural gas commodity prices per Mcf 2025 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / Mcf		3.53
Natural gas commodity prices per Mcf 2029 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / Mcf		3.58
Oil commodity prices per barrel 2024 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / bbl			71.68
Oil commodity prices per barrel 2028 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / bbl			62.02
Natural gas commodity prices per Mcf 2024 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / Mcf			2.67
Natural gas commodity prices per Mcf 2028 \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract prices \| $ / Mcf			3.80
Vital Energy, Inc \| 2024 Divestitures \| Convertible Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred stock, dividend rate (in percent)	2.00%
Noncash or part noncash divestiture, consideration received (in shares) \| shares	541,155
Vital Energy, Inc \| 2024 Divestitures \| Common Stock Issued
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment Owned, Balance, Shares \| shares		1,027,907
Bakken \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of oil and gas properties \| $		$ 35.6
Haynesville \| Level 3 \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of oil and gas properties \| $			$ 26.5

Income Taxes - Components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Federal	$ 0	$ 0	$ 0
State	249	209	0
Current income taxes	249	209	0
Deferred
Federal	6,449	22,314	11,444
State	(491)	1,960	1,406
Deferred income taxes	5,958	24,274	12,850
Income tax expense	$ 6,207	$ 24,483	$ 12,850

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Summary of Significant Accounting Policies - Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2024 segment
Accounting Policies [Abstract]
Number of operating segments	1

Income Taxes - Schedule of Reconciles the income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of income tax expense (benefit)
Income before income taxes	$ 24,966	$ 105,582	$ 275,194
Income tax expense at federal statutory rate	5,243	22,172	57,791
Net (income) loss prior to Business Combination - non-taxable	0	0	(46,051)
Impact of prior tax returns	1,487	142	0
State income taxes, net of federal benefit	524	2,169	1,110
Impact of tax rate and apportionment updates	(1,047)	0	0
Income tax expense	$ 6,207	$ 24,483	$ 12,850
Effective tax rate	24.90%	23.20%	4.70%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

+ Details

Summary of Significant Accounting Policies - Cash and restricted cash (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 item	Dec. 31, 2023 USD ($) item
Accounting Policies [Abstract]
Cash investment term	90 days
Cash classified as restricted \| $		$ 0.3
Number of standby letters of credit \| item	2	2

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2024	Mar. 03, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-41537
Entity Registrant Name	GRANITE RIDGE RESOURCES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-2227812
Entity Address, Address Line One	5217 McKinney Ave
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75205
City Area Code	214
Local Phone Number	396-2850
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	GRNT
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	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 393,318,392
Entity Common Stock, Shares Outstanding		130,812,702
Entity Central Index Key	0001928446
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

The Company uses the two-class method of calculating earnings per share because certain of the Company’s unvested stock-based awards qualify as participating securities.

The Company’s basic earnings per share attributable to common stockholders is computed as (i) net income as reported, (ii) less participating basic earnings, (iii) divided by weighted average basic common shares outstanding. The Company’s diluted earnings per share attributable to common stockholders is computed as (i) basic earnings attributable to common stockholders, (ii) plus reallocation of participating earnings, (iii) divided by weighted average diluted common shares outstanding.

The following table presents the basic and diluted earnings per share computations for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Net income	$	18,759	$	81,099	$	262,344
Participating basic earnings (a)	(211)		(152)		—
Basic earnings attributable to common stockholders	18,548		80,947		262,344
Reallocation of participating earnings	—		—		—
Diluted earnings attributable to common stockholders	$	18,548	$	80,947	$	262,344

Weighted average common shares outstanding:
Weighted average common shares outstanding – basic	130,189		133,093		132,923
Dilutive performance stock units	29		10		—
Dilutive stock options	9		6		—
Vesting Shares	—		—		151
Weighted average common shares outstanding – diluted	130,227		133,109		133,074

Net income per common share:
Basic	$	0.14	$	0.61	$	1.97
Diluted	$	0.14	$	0.61	$	1.97
(a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends with the common stockholders of the Company. Participating earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.

Prior to the Warrant Exchange, the warrants were out-of-the-money and were not included in the computation of the diluted earnings per share. As a result of the Warrant Exchange, no warrants remained outstanding at December 31, 2023. Diluted weighted average common shares outstanding for the year ended December 31, 2022 included certain Vesting Shares, as defined in Note 9. Diluted net earnings per share for the year ended December 31, 2022 excluded 10,349,975 common stock warrants outstanding.

The following table is a summary of the PSUs and stock options, which were not included in the computation of diluted earnings per share, as inclusion of these items would be antidilutive.


	Year Ended December 31,
	2024	2023	2022
Number of antidilutive common shares:
Antidilutive performance stock units	44,649	23,428	—
Antidilutive stock options	491,745	303,805	—
Total antidilutive common shares	536,394	327,233	—

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The following table presents the basic and diluted earnings per share computations for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Net income	$	18,759	$	81,099	$	262,344
Participating basic earnings (a)	(211)		(152)		—
Basic earnings attributable to common stockholders	18,548		80,947		262,344
Reallocation of participating earnings	—		—		—
Diluted earnings attributable to common stockholders	$	18,548	$	80,947	$	262,344

Weighted average common shares outstanding:
Weighted average common shares outstanding – basic	130,189		133,093		132,923
Dilutive performance stock units	29		10		—
Dilutive stock options	9		6		—
Vesting Shares	—		—		151
Weighted average common shares outstanding – diluted	130,227		133,109		133,074

Net income per common share:
Basic	$	0.14	$	0.61	$	1.97
Diluted	$	0.14	$	0.61	$	1.97
(a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends with the common stockholders of the Company. Participating earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.

Schedule of Diluted Earnings Per Share, Diluted Securities

The following table is a summary of the PSUs and stock options, which were not included in the computation of diluted earnings per share, as inclusion of these items would be antidilutive.


	Year Ended December 31,
	2024	2023	2022
Number of antidilutive common shares:
Antidilutive performance stock units	44,649	23,428	—
Antidilutive stock options	491,745	303,805	—
Total antidilutive common shares	536,394	327,233	—

Fair Value Measurements - Fair value of net derivative instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets (at fair value):
Derivative instruments - commodity derivatives	$ 537	$ 11,117
Commodity derivatives – noncurrent portion	0	1,189
Liabilities (at fair value):
Commodity derivatives – current portion	(1,822)	0
Commodity derivatives – noncurrent portion	(3,679)	0
Fair Value
Assets (at fair value):
Equity investments	31,783	50,427
Fair Value, Recurring
Assets (at fair value):
Equity investments		50,427
Commodity derivatives - current portion - Net of fair value presented in CBS	537	11,117
Commodity derivatives - noncurrent portion - Net of fair value presented in CBS		1,189
Liabilities (at fair value):
Commodity derivatives - current portion - Net fair value presented in CBS	(1,822)	0
US Derivative Liability, Non Current, Subject to Master Netting Arrangement, after Offset	(3,679)	0
Net derivative instruments	(4,964)	12,306
Fair Value, Recurring \| Common Stock
Assets (at fair value):
Equity investments	31,783	25,554
Fair Value, Recurring \| Preferred Stock
Assets (at fair value):
Equity investments		24,873
Fair Value, Recurring \| Fair Value
Assets (at fair value):
Equity investments		50,427
Derivative instruments - commodity derivatives	2,053	14,202
Commodity derivatives - current portion offset in the Consolidated Balance Sheet	(1,516)	(3,085)
Commodity derivatives – noncurrent portion		2,534
Commodity derivatives - Non-current portion offset in the Consolidated Balance Sheet		(1,345)
Liabilities (at fair value):
Commodity derivatives – current portion	(3,338)	(3,085)
Commodity derivatives - current portion - Offset in Consolidated Balance Sheet	1,516	3,085
Commodity derivatives – noncurrent portion	(3,679)	(1,345)
Warrant liability - noncurrent portion- Offset in the Consolidated Balance Sheet	0	1,345
Net derivative instruments	(4,964)	12,306
Fair Value, Recurring \| Fair Value \| Common Stock
Assets (at fair value):
Equity investments	31,783	25,554
Fair Value, Recurring \| Fair Value \| Preferred Stock
Assets (at fair value):
Equity investments		24,873
Fair Value, Recurring \| Level 1 \| Fair Value
Assets (at fair value):
Equity investments		25,554
Derivative instruments - commodity derivatives	0	0
Commodity derivatives – noncurrent portion		0
Liabilities (at fair value):
Commodity derivatives – current portion	0	0
Commodity derivatives – noncurrent portion	0	0
Net derivative instruments	0	0
Fair Value, Recurring \| Level 1 \| Fair Value \| Common Stock
Assets (at fair value):
Equity investments	31,783	25,554
Fair Value, Recurring \| Level 1 \| Fair Value \| Preferred Stock
Assets (at fair value):
Equity investments		0
Fair Value, Recurring \| Level 2 \| Fair Value
Assets (at fair value):
Equity investments		24,873
Derivative instruments - commodity derivatives	2,053	14,202
Commodity derivatives – noncurrent portion		2,534
Liabilities (at fair value):
Commodity derivatives – current portion	(3,338)	(3,085)
Commodity derivatives – noncurrent portion	(3,679)	(1,345)
Net derivative instruments	(4,964)	12,306
Fair Value, Recurring \| Level 2 \| Fair Value \| Common Stock
Assets (at fair value):
Equity investments	0	0
Fair Value, Recurring \| Level 2 \| Fair Value \| Preferred Stock
Assets (at fair value):
Equity investments		24,873
Fair Value, Recurring \| Level 3 \| Fair Value
Assets (at fair value):
Equity investments		0
Derivative instruments - commodity derivatives	0	0
Commodity derivatives – noncurrent portion		0
Liabilities (at fair value):
Commodity derivatives – current portion	0	0
Commodity derivatives – noncurrent portion	0	0
Net derivative instruments	0	0
Fair Value, Recurring \| Level 3 \| Fair Value \| Common Stock
Assets (at fair value):
Equity investments	$ 0	0
Fair Value, Recurring \| Level 3 \| Fair Value \| Preferred Stock
Assets (at fair value):
Equity investments		$ 0

Summary of Significant Accounting Policies - Equity Investments (Details) - USD ($) $ in Millions		12 Months Ended
	Jun. 04, 2024	Dec. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Unrealized (loss) gain on equity investments		$ (15.3)	$ 0.5
2024 Divestitures \| Vital Energy, Inc
Class of Stock [Line Items]
Realized gain on sale		$ 0.1
Common Stock \| 2024 Divestitures \| Vital Energy, Inc
Class of Stock [Line Items]
Noncash or part noncash divestiture, common stock, shares (in shares)		75,000
Convertible Preferred Stock \| 2024 Divestitures \| Vital Energy, Inc
Class of Stock [Line Items]
Noncash or part noncash divestiture, consideration received (in shares)	541,155
Preferred stock, dividend rate (in percent)	2.00%

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2024

Asset Retirement Obligation Disclosure [Abstract]

Schedule of changes in the asset retirement obligations

The following table presents the changes in the asset retirement obligations during the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Asset retirement obligations, beginning of year	$	9,874	$	4,963	$	2,962
Liabilities incurred during the period	760		2,370		1,012
Revision of estimates(1)	—		2,596		490
Accretion of discount during the period	791		441		499
Disposals or settlements	(504)		(496)		—
Asset retirement obligations, end of year	$	10,921	$	9,874	$	4,963
Less current portion of asset retirement obligations	228		483		218
Asset retirement obligations, long-term	$	10,693	$	9,391	$	4,745

__________________________________________

(1)Revisions in estimated liabilities during 2023 relate primarily to changes in estimated well lives, while revisions in 2022 relate primarily to changes in estimates of asset retirement costs.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	12 Months Ended
	Dec. 31, 2022 $ / shares
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Common stock dividend declared (in USD per share)	$ 0.08

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-1

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477123/405-50-65-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482477/820-10-65-13

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482477/820-10-65-13

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 66: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 67: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 69: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Reference 80: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summary of carrying amounts and fair values of financial instruments

The following table presents the carrying amounts and fair values of the Company’s financial instruments as of December 31, 2024 and 2023:


	December 31, 2024				December 31, 2023
(in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Derivative instruments - commodity derivatives	$	537	$	537	$	12,306	$	12,306
Equity investments	$	31,783	$	31,783	$	50,427	$	50,427

Liabilities:
Revolving credit facilities	$	205,000	$	205,000	$	110,000	$	110,000
Derivative instruments - commodity derivatives	$	5,501	$	5,501	$	—	$	—

Summary of net derivative asset (liability) measured at fair value

The Company nets the fair value of commodity derivative instruments by counterparty in the Company’s consolidated balance sheets.


	December 31, 2024
	Fair Value Measurement Using
(in thousands)	Level 1		Level 2		Level 3		Total Fair Value		Gross Amounts Offset in the Consolidated Balance Sheet		Net Fair Value Presented in the Consolidated Balance Sheet
Equity investments - common stock	$	31,783	$	—	$	—	$	31,783	$	—	$	31,783

Assets (at fair value):
Commodity derivatives – current portion	$	—	$	2,053	$	—	$	2,053	$	(1,516)	$	537

Liabilities (at fair value):
Commodity derivatives – current portion	—		(3,338)		—		(3,338)		1,516		(1,822)
Commodity derivatives – noncurrent portion	—		(3,679)		—		(3,679)		—		(3,679)
Net derivative instruments	$	—	$	(4,964)	$	—	$	(4,964)	$	—	$	(4,964)


	December 31, 2023
	Fair Value Measurement Using
(in thousands)	Level 1		Level 2		Level 3		Total Fair Value		Gross Amounts Offset in the Consolidated Balance Sheet		Net Fair Value Presented in the Consolidated Balance Sheet
Equity investments - common stock	$	25,554	$	—	$	—	$	25,554	$	—	$	25,554
Equity investments - preferred stock	—		24,873		—		24,873		—		24,873
Total equity investments	$	25,554	$	24,873	$	—	$	50,427	$	—	$	50,427

Assets (at fair value):
Commodity derivatives – current portion	$	—	$	14,202	$	—	$	14,202	$	(3,085)	$	11,117
Commodity derivatives – noncurrent portion	—		2,534		—		2,534		(1,345)		1,189
Liabilities (at fair value):
Commodity derivatives – current portion	—		(3,085)		—		(3,085)		3,085		—
Commodity derivatives – noncurrent portion	—		(1,345)		—		(1,345)		1,345		—
Net derivative instruments	$	—	$	12,306	$	—	$	12,306	$	—	$	12,306

Debt	12 Months Ended
Debt	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt The carrying value of the Company’s total debt was $205.0 million and $110.0 million as of December 31, 2024 and 2023, respectively. Granite Ridge Credit Agreement On October 24, 2022, Granite Ridge entered into a senior secured revolving credit agreement (as amended, the “Credit Agreement”) with a syndicate of banks, currently led by Bank of America, N.A., as administrative agent. The Credit Agreement has a maturity date of five years from the effective date thereof, or October 24, 2027. The borrowing base is redetermined semiannually on or about April 1 and October 1 of each calendar year, and is subject to additional adjustments from time to time, including for asset sales, elimination or reduction of hedge positions and incurrence of other debt. On April 1, 2024, the Company entered into the Resignation, Appointment, Assignment and Third Amendment to Credit Agreement (the “Third Amendment”) which, among other things, (a) appointed a new administrative agent and L/C Issuer (as defined therein) (b) increased the size of the lender group by adding nine new banks, with one bank exiting the facility, (c) increased the borrowing base from $275.0 million to $300.0 million, and (d) increased the aggregate elected commitments from $240.0 million to $300.0 million. In connection with the Third Amendment and the increase in the size of the lender group, certain lenders decreased their commitment amounts and one bank exited the facility, which resulted in a write-off of $2.2 million in deferred financing costs that were previously capitalized in other long-term assets in the consolidated balance sheets. This $2.2 million is included in interest expense in the consolidated statement of operations for the year ended December 31, 2024 and is added back as a non-cash adjustment to operating activities in the consolidated statement of cash flows. The Company capitalized approximately $3.0 million in expenses related to the Third Amendment that are included in other long-term assets in the consolidated balance sheet. On November 1, 2024, the Company and its lenders entered into the Fourth Amendment to the Credit Agreement, which amended the Credit Agreement to, among other things, (a) increase the borrowing base from $300.0 million to $325.0 million, and (b) increase the aggregate elected commitments from $300.0 million to $325.0 million. The Company and the Required Lenders (as defined in the Credit Agreement) may request one unscheduled redetermination of the borrowing base between each scheduled redetermination. The amount of the borrowing base is determined by the lenders in their sole discretion and consistent with the oil and gas lending criteria of the lenders at the time of the relevant redetermination. The amount the Company is able to borrow under the Credit Agreement is subject to compliance with the financial covenants, satisfaction of various conditions precedent to borrowing and other provisions of the Credit Agreement. Deferred financing costs were $4.3 million at December 31, 2024, and these costs are being amortized over the term of the Credit Agreement. At December 31, 2024, the Company had outstanding borrowings of $205.0 million and $0.3 million of letters of credit issued and outstanding under the Credit Agreement, resulting in availability of $119.7 million. The Credit Agreement is guaranteed by the restricted subsidiaries of Granite Ridge and is secured by a first priority mortgage and security interest in substantially all of the Company's and its restricted subsidiaries' assets. Borrowings under the Credit Agreement may be base rate loans or secured overnight financing rate (“SOFR”) loans. Interest is payable quarterly for base rate loans and at the end of the applicable interest period for SOFR loans. SOFR loans bear interest at SOFR plus an applicable margin ranging from 300 to 400 basis points, depending on the percentage of the borrowing base utilized, plus an additional 10, 15 or 20 basis point credit spread adjustment for a one, three, or six month interest period, respectively. Base rate loans bear interest at a rate per annum equal to the greatest of: (i) the U.S. prime rate as published by the Wall Street Journal; (ii) the federal funds effective rate plus 50 basis points; and (iii) the adjusted SOFR rate for a one-month interest period plus 100 basis points, plus, in the case of this clause (iii) an additional 10 basis point credit spread adjustment, plus, in the case of any base rate loan, an applicable margin ranging from 200 to 300 basis points, depending on the percentage of the borrowing base utilized. The Company's weighted average effective interest rate under the Credit Agreement as of December 31, 2024 and 2023 was 8.12% and 8.71%, respectively. The Company also pays a commitment fee on unused elected commitment amounts under its facility of 50 basis points. The Company may repay any amounts borrowed under the Credit Agreement prior to the maturity date without any premium or penalty. The Credit Agreement contains certain financial covenants, including the maintenance of the following financial ratios: (i)a leverage ratio, which is the ratio of Consolidated Total Debt to EBITDAX (each as defined in the Credit Agreement), of not greater than 3.00 to 1.00 as of the last day of any fiscal quarter, and (ii)a Current Ratio (as defined in the Credit Agreement), of not less than 1.00 to 1.00 as of the last day of each fiscal quarter. At December 31, 2024, the Company was in compliance with all financial covenants required by the Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Equity	12 Months Ended
Equity	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Equity	Equity As a result of the Business Combination, periods prior to October 24, 2022 reflect Granite Ridge as a limited partnership, not a corporation. On the date of the Transactions, the capital of the Funds consisted of general partner interests and limited partner interests. The general partner interest was a non-economic, management interest. The general partner was granted full and complete power and authority to manage and conduct the business and affairs of the Funds and to take all such actions as it deemed necessary or appropriate to accomplish the purpose of the Funds. In connection with the Business Combination, the net assets of the Funds were transferred to GREP, which became a wholly-owned subsidiary of Granite Ridge. For additional information regarding the Business Combination, see Note 1. Warrant Exchange - On June 22, 2023, the Company completed an Offer to holders of its outstanding warrants which provided such holders the opportunity to receive 0.25 shares of the Company’s common stock in exchange for each warrant tendered by such holders. This Offer coincided with a solicitation of consents from holders of the warrants to amend the warrant agreement to permit the Company to require that each warrant that remained outstanding upon the closing of the Offer be exchanged for 0.225 shares of the Company’s common stock. On June 22, 2023, the Company issued 2,471,738 shares of common stock in exchange for 9,887,035 warrants tendered in the Offer, with a minimal cash settlement in lieu of partial shares. In July 2023, each remaining outstanding warrant was converted into 0.225 shares of the Company’s common stock, and subsequently, no warrants remained outstanding. The warrants exchanged in the Offer were marked to fair value on the date of settlement, which was recorded in "Gain (loss) on derivatives - common stock warrants" on the consolidated statements of operations. Upon exchange, the liability of $17.0 million and $0.7 million related to the exchanged common stock warrants in June 2023 and July 2023, respectively, was removed from the consolidated balance sheet and the issuance of shares of the Company’s common stock was reflected in stockholders’ equity. The Company incurred $2.5 million of costs directly related to the Warrant Exchange, consisting primarily of professional, legal, printing, filing, regulatory, and other costs. The costs were recorded in general and administrative expenses on the consolidated statements of operations for the year ended December 31, 2023. Common stock dividends - The Company paid dividends of $57.5 million, or $0.44 per share, and $58.6 million, or $0.44 per share, during the years ended December 31, 2024 and 2023, respectively. Any payment of future dividends will be at the discretion of the Company’s Board of Directors. Share repurchase program - In December 2022, the Company announced that its Board of Directors approved a share repurchase program for up to $50.0 million. The stock repurchase program terminated on December 31, 2023. During the year ended December 31, 2023, the Company repurchased 5,651,707 shares under the program at an aggregate cost of $36.1 million. As of December 31, 2023, the Company had repurchased a total of 5,677,627 shares since the inception of the program at an aggregate cost of $36.3 million. Previous Capitalization Prior to the Business Combination, the partners’ capital attributable to the Funds was divided into two classifications: (1) General Partner and (2) Limited Partners. On the date of the Business Combination, the General Partner and Limited Partner’s capital was exchanged for 130 million shares of common stock. See Note 1 for additional information on these and other transactions related to the Business Combination. Vesting Shares As discussed in Note 1, 495,357 shares of Class F common stock of ENPC were converted into 1,238,393 shares of Class A common stock of ENPC, 371,518 of which became subject to certain vesting and forfeiture provisions upon their conversion to the Company’s common stock in accordance with the Business Combination Agreement (the “Vesting Shares”). Based on an assessment of the Vesting Shares, the Company considered ASC 480 and accounted for the Vesting Shares as a liability. The Company recorded a liability related to the Vesting Shares of $1.3 million as of December 31, 2022. In January 2023, the Company reversed this liability and the related additional paid-in capital when 151,170 of these shares vested. The remaining shares were forfeited.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Risk Concentrations (Details)	12 Months Ended
Risk Concentrations (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Risk concentrations
Percentage of wells operated by third-party operating partners (percent)	100.00%
Sales revenue \| Oil and natural gas
Risk concentrations
Benchmark percentage of revenues contributed by major operators (percent)	10.00%	10.00%	10.00%
Benchmark used to determine the disclosure of revenues contributed by major operators (percent)	10.00%	10.00%	10.00%
Sales revenue \| Oil and natural gas \| Operator A
Risk concentrations
Concentration risk (as a percent)		11.00%	12.00%
Sales revenue \| Oil and natural gas \| Operator B
Risk concentrations
Concentration risk (as a percent)		12.00%	10.00%
Sales revenue \| Oil and natural gas \| Operator C
Risk concentrations
Concentration risk (as a percent)			10.00%
Sales revenue \| Oil and natural gas \| Operator D
Risk concentrations
Concentration risk (as a percent)	14.00%

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended			12 Months Ended			13 Months Ended
	Jun. 22, 2023	Oct. 24, 2022	Jul. 31, 2023	Jun. 30, 2023	Jan. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Class of Stock [Line Items]
Dividends paid						$ 57,500	$ 58,600
Common stock, dividends, per share, cash paid (in dollars per share)						$ 0.44	$ 0.44
Treasury stock, value, acquired, cost method						$ 40	$ 36,096	$ 229
Common Class A
Class of Stock [Line Items]
Contribution of Funds' assets in exchange for common stock (in shares)		130,000,000
Amended Warrant Agreement Offer
Class of Stock [Line Items]
Shares of common stock underlying each warrant (in shares)	0.25		0.225
Warrants tendered (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Warrants outstanding (in shares)			0			0
Fair value settlements			$ 700	$ 17,000
Warrant exchange costs						$ 2,500
Common Stock Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount								50,000
Purchase of treasury stock (in shares)							5,651,707		5,677,627
Treasury stock, value, acquired, cost method							$ 36,100		$ 36,300
ENPC Common Class F \| ENPC Conversion Activity, Effective Time of Merger
Class of Stock [Line Items]
Shares to-be converted during merger (in shares)		495,357
ENPC Common Class A \| ENPC Conversion Activity, Effective Time of Merger
Class of Stock [Line Items]
Shares converted during merger (in shares)		1,238,393
Converted shares subject to certain vesting provisions (in shares)		371,518
Vesting shares liability (in shares)								$ 1,300
Awards vested (in shares)					151,170

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Oct. 24, 2022	Dec. 31, 2024	Dec. 31, 2023
Related party transactions
Other liabilities		$ 546	$ 1,204
Management
Related party transactions
Oil and gas management agreement, renewal term	1 year
Related Party \| Grey Rock Administration, LLC (the Manager)
Related party transactions
Other liabilities	$ 10,000
Oil and gas management agreement, renewal term	1 year

Risk Concentrations

12 Months Ended

Dec. 31, 2024

Risks and Uncertainties [Abstract]

Risk Concentrations

As a non-operator, 100% of the Company’s wells are operated by third-party operating partners. As a result, the Company is highly dependent on the success of these third-party operators. If they are not successful in the development, exploitation, production and exploration activities relating to the Company’s leasehold interests, or are unable or unwilling to perform, the Company’s financial condition and results of operation could be adversely affected. These risks are heightened in a low commodity price environment, which may present significant challenges to these third-party operators. The Company’s third-party operators will make decisions in connection with their operations that may not be in the Company’s best interests, and the Company may have little or no ability to exercise influence over the operational decisions of its third-party operators.

The following table sets forth the percentage of revenues attributable to third-party operating partners who have accounted for 10% or more of revenues attributable to the Company’s assets during the years ended December 31, 2024, 2023 and 2022.


Major Operators	2024		2023		2022
Operator A	*		11	%	12	%
Operator B	*		12	%	10	%
Operator C	*		*		10	%
Operator D	14	%	*		*

__________________________________________

*Less than 10%

No other operator accounted for 10% or more of revenue attributable to the Company’s assets on a combined basis in the years ended December 31, 2024, 2023, or 2022. The loss of any such operator could adversely affect revenues attributable to the Company’s assets in the short term.

In the normal course of business, the Company maintains its cash balances in financial institutions, which at times may exceed federally insured limits. The Company is subject to credit risk to the extent any financial institution with which it conducts business is unable to fulfill contractual obligations on its behalf. Management monitors the financial condition of such financial institutions and does not anticipate any losses from these counterparties.

Derivative counterparties - The Company uses credit and other financial criteria to evaluate the creditworthiness of counterparties to its derivative instruments. The Company believes that all of its derivative counterparties are currently acceptable credit risks. All of the Company’s outstanding derivative instruments are covered by International Swap Dealers Association Master Agreements (“ISDAs”) entered into with parties that are also lenders under the Company’s Credit Agreement. The Company’s obligations under the derivative instruments are secured pursuant to the Credit Agreement, and no additional collateral has been posted by the Company.

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2024

Oil and Gas, Joint Interest Billing, Receivable [Abstract]

Acquisitions and Divestitures

Asset Acquisitions

The Company follows ASU 2017-1 in evaluating whether acquisitions of oil and natural gas properties are accounted for as asset acquisitions or as business combinations. The following table presents the cumulative adjusted purchase price of transactions accounted for as asset acquisitions, by basin, included in oil and gas properties on the Company’s consolidated balance sheets:


	Year Ended December 31,
(in thousands)	2024		2023
Permian	46,494		24,534
Eagle Ford	—		2,800
Bakken	1,981		—
Haynesville	—		2,921
DJ	5,325		16,620
Appalachian	10,357		—
Total	$	64,157	$	46,875

Business Combinations

There were no acquisitions accounted for under the acquisition method of accounting as a business combination in accordance with ASC Topic 805, Business Combinations ("ASC 805") during 2024.

During 2023, the Company closed on three separate acquisitions that were accounted for as business combinations in accordance with ASC Topic 805. These included the following transactions:

Multi-Basin Acquisition - In September 2023, the Company closed on an acquisition comprised of proved developed producing oil and natural gas properties with approximately 281 net acres. The properties are located in the Permian, Eagle Ford and DJ basins. As consideration for the acquisition, the Company paid $8.2 million in cash. Asset retirement obligations acquired were $0.2 million.

Haynesville Basin - In December 2023, the Company closed on an acquisition of proved and unproved oil and natural gas properties in the Haynesville Basin for $22.2 million in cash. Asset retirement obligations acquired were $0.2 million.

Haynesville Basin - In December 2023, the Company closed on an acquisition of royalty interests in proved and unproved oil and natural gas properties in the Haynesville Basin for $1.4 million in cash.

The following table presents a summary of the fair values of the assets acquired and the liabilities assumed in acquisitions that met the definition of a business combination for the year ended December 31, 2023:


(in thousands)
Fair value of assets acquired and liabilities assumed
Proved oil and natural gas properties(1)	$	15,488
Unproved properties	16,545
Total oil and natural gas properties	32,033
Less: Asset retirement obligations	(341)
Net assets acquired	$	31,692
Consideration transferred (including liabilities assumed)	$	31,692

__________________________________________

(1)Amount includes asset retirement costs of $0.3 million.

Divestitures

During the year ended December 31, 2024, the Company sold certain oil and gas properties in exchange for total consideration of $14.9 million. The Company recorded a gain of $0.5 million on the disposal of unproved oil and natural gas properties, which is included in other, net in the consolidated statement of operations for the year ended December 31, 2024.

In December 2023, the Company completed the sale of certain of its Permian Basin assets to Vital Energy in exchange for consideration of 561,752 shares of Vital Energy's common stock and 541,155 shares of Vital Energy's 2.0% cumulative mandatorily convertible preferred securities (the "Preferred Stock"). As the sale of oil and natural gas properties did not significantly affect the unit-of-production amortization rate of the Permian Basin depletion aggregation, the Company accounted for the divestiture as a normal retirement with no gain or loss recorded on the sale.

Subsequent Events - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		2 Months Ended	12 Months Ended
	Feb. 14, 2025	Mar. 04, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsequent events
Common stock dividend declared (in USD per share)			$ 0.44	$ 0.44	$ 0.08
Subsequent Event
Subsequent events
Common stock dividend declared (in USD per share)	$ 0.11
Subsequent Event \| Permian Basin
Subsequent events
Consideration paid to acquire proved and unproved properties		$ 26.0
Fair value of properties acquired		$ 19.7

Summary of Significant Accounting Policies - Revenue recognition (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) source area	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of revenue sources \| source	2
Operating regions \| area	6
Revenue	$ 380,030	$ 394,069	$ 497,417
Permian
Disaggregation of Revenue [Line Items]
Revenue	238,052	237,730	266,856
Eagle Ford
Disaggregation of Revenue [Line Items]
Revenue	54,399	46,410	64,879
Bakken
Disaggregation of Revenue [Line Items]
Revenue	40,358	51,128	64,999
Haynesville
Disaggregation of Revenue [Line Items]
Revenue	16,776	24,833	62,743
DJ
Disaggregation of Revenue [Line Items]
Revenue	29,980	33,968	37,880
SCOOP/STACK
Disaggregation of Revenue [Line Items]
Revenue	0	0	60
Appalachian
Disaggregation of Revenue [Line Items]
Revenue	465	0	0
Oil
Disaggregation of Revenue [Line Items]
Revenue	327,491	317,099	338,163
Natural gas
Disaggregation of Revenue [Line Items]
Revenue	$ 52,539	$ 76,970	$ 159,254

Stock Incentive Plan - Future Stock-based Compensation Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2025	$ 748
2026	269
2027	34
Total	1,051
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2025	245
2026	186
2027	0
Total	431
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2025	54
2026	6
2027	0
Total	$ 60

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company has adopted and follows ASC 820, Fair Value Measurements and Disclosures, for measurement and disclosures about fair value of its financial instruments. ASC 820 establishes a framework for measuring fair value in U.S. GAAP, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, ASC 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by ASC 820 are:

Level 1 — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Level 2 — Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.

Level 3 — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

As defined by ASC 820, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale, which was further clarified as the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in an orderly transaction between market participants at the measurement date.

As required, financial assets and liabilities are classified in their entirety 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 requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.

The following table presents the carrying amounts and fair values of the Company’s financial instruments as of December 31, 2024 and 2023:


	December 31, 2024				December 31, 2023
(in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Derivative instruments - commodity derivatives	$	537	$	537	$	12,306	$	12,306
Equity investments	$	31,783	$	31,783	$	50,427	$	50,427

Liabilities:
Revolving credit facilities	$	205,000	$	205,000	$	110,000	$	110,000
Derivative instruments - commodity derivatives	$	5,501	$	5,501	$	—	$	—

Revolving credit facilities — The carrying amounts of the revolving credit facilities approximate their fair values, as the applicable interest rates are variable and reflective of market rates.

Other financial assets and liabilities — The carrying amounts of the Company’s other financial assets and liabilities, such as revenue receivable and accrued expenses due to sellers, approximate their fair values because of the short maturity of these instruments.

Derivative instruments - commodity derivatives — The fair value of the Company’s derivative instruments is estimated by management considering various factors, including closing exchange and over-the-counter quotations and the time value of the underlying commitments. The fair value of the Company’s commodity derivative instruments is considered to be a Level 2 measurement. Substantially all of these inputs are observable in the marketplace throughout the full term of the derivative instrument, can be derived from observable data, or supported by observable levels at which transactions are executed in the marketplace. The Company’s valuation models are primarily industry-standard models that consider various inputs including: (i) quoted forward prices for commodities, (ii) current market and contractual prices for the underlying instruments, (iii) applicable credit-adjusted risk-free rate curves, as well as other relevant economic measures.

Equity investments — The fair value of the Company’s investment in Vital Energy's common stock was valued using the instrument's publicly listed trading price, which is considered to be a Level 1 measurement due to the use of an observable market quote in an active market. The fair value of the Company's investment in Vital Energy's preferred stock was estimated by management considering various factors, including the publicly listed trading price of Vital Energy's common shares and the present value of expected dividends. The fair value of the investment in preferred stock was considered to be a Level 2 measurement. Substantially all of these inputs are observable in the marketplace throughout the full term of the instrument, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace.

On June 4, 2024, the 2.0% cumulative mandatorily convertible preferred securities of Vital Energy were converted into 541,155 shares of common stock of Vital Energy. Prior to this conversion, the common shares of Vital Energy owned by the Company were not entitled to vote and bore a restricted legend to that effect. As of December 31, 2024, the Company held 1,027,907 shares of Vital Energy’s common stock, for which the fair value is a Level 1 measurement.

Financial assets and liabilities 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 and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following tables summarize (i) the valuation of each of the Company’s financial instruments by required fair value hierarchy levels and (ii) the gross fair value by the appropriate balance sheet classification, even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the Company’s

consolidated balance sheets as of December 31, 2024 and 2023. The Company nets the fair value of commodity derivative instruments by counterparty in the Company’s consolidated balance sheets.


	December 31, 2024
	Fair Value Measurement Using
(in thousands)	Level 1		Level 2		Level 3		Total Fair Value		Gross Amounts Offset in the Consolidated Balance Sheet		Net Fair Value Presented in the Consolidated Balance Sheet
Equity investments - common stock	$	31,783	$	—	$	—	$	31,783	$	—	$	31,783

Assets (at fair value):
Commodity derivatives – current portion	$	—	$	2,053	$	—	$	2,053	$	(1,516)	$	537

Liabilities (at fair value):
Commodity derivatives – current portion	—		(3,338)		—		(3,338)		1,516		(1,822)
Commodity derivatives – noncurrent portion	—		(3,679)		—		(3,679)		—		(3,679)
Net derivative instruments	$	—	$	(4,964)	$	—	$	(4,964)	$	—	$	(4,964)


	December 31, 2023
	Fair Value Measurement Using
(in thousands)	Level 1		Level 2		Level 3		Total Fair Value		Gross Amounts Offset in the Consolidated Balance Sheet		Net Fair Value Presented in the Consolidated Balance Sheet
Equity investments - common stock	$	25,554	$	—	$	—	$	25,554	$	—	$	25,554
Equity investments - preferred stock	—		24,873		—		24,873		—		24,873
Total equity investments	$	25,554	$	24,873	$	—	$	50,427	$	—	$	50,427

Assets (at fair value):
Commodity derivatives – current portion	$	—	$	14,202	$	—	$	14,202	$	(3,085)	$	11,117
Commodity derivatives – noncurrent portion	—		2,534		—		2,534		(1,345)		1,189
Liabilities (at fair value):
Commodity derivatives – current portion	—		(3,085)		—		(3,085)		3,085		—
Commodity derivatives – noncurrent portion	—		(1,345)		—		(1,345)		1,345		—
Net derivative instruments	$	—	$	12,306	$	—	$	12,306	$	—	$	12,306

Fair Values – Nonrecurring

Impairments of long-lived assets — The Company periodically reviews its long-lived assets to be held and used, including proved oil and natural gas properties, whenever events or circumstances indicate that the carrying value of those assets may not be recoverable; for instance, when there are declines in commodity prices or well performance. The Company reviews its oil and natural gas properties by depletion base. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If the estimated undiscounted future net cash flows are less than the carrying amount of the Company’s assets, it recognizes an impairment loss for the amount by which the carrying amount of the asset exceeds the estimated fair value of the asset.

The Company calculates the estimated fair values of its long-lived assets using the market and income valuation approaches. The income approach is calculated using a discounted future cash flow model. Fair value assumptions associated with the calculation of discounted future net cash flows include (i) market estimates of commodity prices, which are based on the NYMEX strip, (ii) pricing adjustments for differentials, (iii) production costs, (iv) capital expenditures, (v) production volumes, (vi) estimated proved and unproved reserves and (vii) discount rate. The expected future net cash flows are generally discounted using a discount rate which has approximated 10 percent for proved developed producing reserves and an appropriate market discount rate based on risk for other reserve categories. The Company uses the market approach by identifying market comparisons of recent transactions of oil and gas properties that share geographical and reserve characteristics to assess the fair value of the Company's assets. These are classified as Level 3 fair value assumptions.

As of December 31, 2024, the Company’s estimates of commodity prices for purposes of determining discounted future cash flows, which are based on the NYMEX strip, ranged from a 2025 price of $69.87 per barrel of oil decreasing to a 2029 price of $63.07 per barrel of oil. Natural gas prices ranged from a 2025 price of $3.53 per Mcf of natural gas increasing to a 2029 price of $3.58 per Mcf. Both oil and natural gas commodity prices for this purpose were held flat after 2029.

As of December 31, 2023, the Company’s estimates of commodity prices for purposes of determining discounted future cash flows, which are based on the NYMEX strip, ranged from a 2024 price of $71.68 per barrel of oil decreasing to a 2028 price of $62.02 per barrel of oil. Natural gas prices ranged from a 2024 price of $2.67 per Mcf of natural gas increasing to a 2028 price of $3.80 per Mcf. Both oil and natural gas commodity prices for this purpose were held flat after 2028.

Bakken Impairment

In the fourth quarter of 2024, there were indicators that the carrying value of the Company's Bakken proved oil and gas properties may be impaired due to widening differentials and higher production cost assumptions. As a result of the impairment evaluation, where the market and income approach were utilized to assess fair value, the Company recorded impairment of $35.6 million, which is included in impairment of long-lived assets within the consolidated statements of operations.

Haynesville Impairment

In the fourth quarter of 2023, there were indicators that the carrying value of the Company's Haynesville proved oil and gas properties may be impaired due to a decline in natural gas prices and negative reserve revisions for certain wells that had recently begun production as well as certain proved undeveloped wells. As a result of the impairment evaluation, where the income approach was utilized to assess fair value, the Company recorded impairment of $26.5 million, which is included in impairment of long-lived assets within the consolidated statements of operations.

Asset retirement obligations — The fair value measurements of asset retirement obligations are measured on a nonrecurring basis when a well is drilled or acquired or when production equipment and facilities are installed or acquired using a discounted cash flow model based on inputs that are not observable in the market and therefore represent Level 3 inputs. Significant inputs to the fair value measurement of asset retirement obligations include estimates of the costs of plugging and abandoning oil and natural gas wells, removing production equipment and facilities and restoring the surface of the land as well as estimates of the economic lives of the oil and natural gas wells and future inflation rates.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Income Taxes - Narratives (Details) - USD ($)	12 Months Ended
Income Taxes - Narratives (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	24.90%	23.20%	4.70%
Deferred tax assets, operating loss carryforwards, not subject to expiration	$ 63,700,000
Deferred tax assets, operating loss carryforwards, subject to expiration	63,700,000
Unrecognized tax benefits, interest or penalties	$ 0	$ 0
Inflation Reduction Act, corporate alternative minimum tax percentage	15.00%
Inflation Reduction Act, excise tax percentage	1.00%

Subsequent events

12 Months Ended

Dec. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

Dividend

On February 14, 2025, the Company's Board of Directors declared a cash dividend of $0.11 per share for the first quarter of 2025. The dividend will be paid on March 14, 2025 to stockholders of record as of February 28, 2025.

Acquisitions

As of March 4, 2025, the Company closed on various acquisitions of oil and gas properties during 2025 for a total purchase price of $26.0 million, of which $19.7 million were acquisition of properties in the Permian Basin. The Company is evaluating the accounting treatment of these transactions.

New Commodity Derivative Contracts

Subsequent to December 31, 2024, the Company entered into the following oil and natural gas derivative contracts to hedge additional amounts of estimated future production.


	2025										2026
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total		Total
Collars (oil)
Volume (Bbl)	233,000		310,000		280,000		204,000		1,027,000		1,316,000
Weighted-average floor price ($/Bbl)	$	69.84	$	67.49	$	65.29	$	62.47	$	66.43	$	60.00
Weighted-average ceiling price ($/Bbl)	$	75.70	$	74.41	$	74.01	$	74.41	$	74.59	$	70.90
Collars (natural gas)
Volume (Mcf)	—		—		—		888,000		888,000		1,752,000
Weighted-average floor price ($/Mcf)	$	—	$	—	$	—	$	4.10	$	4.10	$	4.06
Weighted-average ceiling price ($/Mcf)	$	—	$	—	$	—	$	4.98	$	4.98	$	4.89
Swaps (natural gas)
Volume (Mcf)	1,234,000		1,843,000		1,571,000		498,000		5,146,000		2,388,000
Weighted-average price ($/Mcf)	$	3.78	$	3.79	$	3.79	$	3.79	$	3.79	$	3.76

Earnings Per Share - Schedule of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 18,759	$ 81,099	$ 262,344
Participating basic earnings	(211)	(152)	0
Basic earnings attributable to common stockholders	18,548	80,947	262,344
Reallocation of participating earnings	0	0	0
Diluted earnings attributable to common stockholders	$ 18,548	$ 80,947	$ 262,344
Weighted-average number of shares outstanding:
Weighted average common shares outstanding – basic (in shares)	130,189	133,093	132,923
Weighted average common shares outstanding – diluted (in shares)	130,227	133,109	133,074
Net income per common share:
Basic (in dollars per share)	$ 0.14	$ 0.61	$ 1.97
Diluted (in dollars per share)	$ 0.14	$ 0.61	$ 1.97
Performance Stock Units
Weighted-average number of shares outstanding:
Dilutive performance stock units, stock options and vesting shares (in shares)	29	10	0
Stock Options
Weighted-average number of shares outstanding:
Dilutive performance stock units, stock options and vesting shares (in shares)	9	6	0
Vesting Shares
Weighted-average number of shares outstanding:
Dilutive performance stock units, stock options and vesting shares (in shares)	0	0	151

Income Taxes - Schedule of income tax expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets
Net operating loss carryforwards	$ 14,152	$ 13,677
Disallowed interest expense carryforward	5,410	1,335
Asset retirement obligations	2,459	2,169
Unrealized derivatives	1,118	0
Unrealized loss on investment	3,327	0
Other deductible temporary differences	831	495
Total deferred tax assets	27,297	17,676
Less: valuation allowance	0	0
Net deferred tax assets	27,297	17,676
Deferred tax liabilities
Property, plant and equipment	(107,243)	(88,870)
Unrealized derivatives	0	(2,795)
Total deferred tax liabilities	(107,243)	(91,665)
Net deferred tax liability	$ (79,946)	$ (73,989)

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 18,759	$ 81,099	$ 262,344

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Organization and Nature of Operations (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended
	Jun. 22, 2023	Oct. 24, 2022	Jan. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jul. 31, 2023
Basin acquisition that met the definition of a business combination
Common stock, shares authorized (in shares)				431,000,000	431,000,000
Stock warrants issued (in shares)		10,349,975
Warrant Exchange Offer
Basin acquisition that met the definition of a business combination
Shares of common stock underlying each warrant (in shares)	0.25					0.225
Warrants tendered (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Warrants outstanding (in shares)						0
Amended Warrant Agreement Offer
Basin acquisition that met the definition of a business combination
Shares of common stock underlying each warrant (in shares)	0.25					0.225
Warrants tendered (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Warrants outstanding (in shares)				0		0
Common Class A
Basin acquisition that met the definition of a business combination
Shares issues to existing GREP members upon business combination closing (in shares)		130,000,000
Executive Network Partnering Corporation
Basin acquisition that met the definition of a business combination
Business acquisition, cash consideration transferred		$ 396.1
Common stock to be converted (in shares)		1
Warrants to be converted (in shares)		0.25
Common stock shares converted (in shares)		1
Executive Network Partnering Corporation \| Executive Network Partnering Corporation
Basin acquisition that met the definition of a business combination
Total aggregate investment by ENPC		$ 6.8
Executive Network Partnering Corporation \| Common Class A
Basin acquisition that met the definition of a business combination
Shares issues to existing GREP members upon business combination closing (in shares)		130,000,000.0
Executive Network Partnering Corporation \| ENPC Common Class A
Basin acquisition that met the definition of a business combination
Common stock, shares authorized (in shares)		41,400,000
Common stock, shares outstanding (in shares)		39,343,496
Business acquisition, redemption price per share (in dollars per share)		$ 10.07
Executive Network Partnering Corporation \| ENPC Common Class A \| ENPC Conversion Activity, Effective Time of Merger
Basin acquisition that met the definition of a business combination
Shares converted during merger (in shares)		1,238,393
Shares forfeited (in shares)			220,348
Converted shares subject to certain vesting provisions (shares)			371,518
Executive Network Partnering Corporation \| ENPC Common Class F \| ENPC Conversion Activity, Effective Time of Merger
Basin acquisition that met the definition of a business combination
Shares to-be converted during merger (in shares)		495,357
Shares forfeited (in shares)		220,348

Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2024

Subsequent Events [Abstract]

Schedule of Subsequent Events


	2025										2026
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total		Total
Collars (oil)
Volume (Bbl)	233,000		310,000		280,000		204,000		1,027,000		1,316,000
Weighted-average floor price ($/Bbl)	$	69.84	$	67.49	$	65.29	$	62.47	$	66.43	$	60.00
Weighted-average ceiling price ($/Bbl)	$	75.70	$	74.41	$	74.01	$	74.41	$	74.59	$	70.90
Collars (natural gas)
Volume (Mcf)	—		—		—		888,000		888,000		1,752,000
Weighted-average floor price ($/Mcf)	$	—	$	—	$	—	$	4.10	$	4.10	$	4.06
Weighted-average ceiling price ($/Mcf)	$	—	$	—	$	—	$	4.98	$	4.98	$	4.89
Swaps (natural gas)
Volume (Mcf)	1,234,000		1,843,000		1,571,000		498,000		5,146,000		2,388,000
Weighted-average price ($/Mcf)	$	3.78	$	3.79	$	3.79	$	3.79	$	3.79	$	3.76

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Forvis Mazars, LLP
Auditor Location	Dallas, Texas
Auditor Firm ID	686

Derivative Financial Instruments - Common stock warrants (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended		12 Months Ended
	Jun. 22, 2023	Oct. 24, 2022	Jul. 31, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative instruments
Stock warrants issued (in shares)		10,349,975
(Loss) gain on common stock warrants					$ 0	$ (5,742)	$ 362
Warrant Exchange Offer
Derivative instruments
Shares of common stock underlying each warrant (in shares)	0.25		0.225
Common stock issued in warrant exchange (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Warrants outstanding (in shares)			0
Amended Warrant Agreement Offer
Derivative instruments
Shares of common stock underlying each warrant (in shares)	0.25		0.225
Common stock issued in warrant exchange (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Warrants outstanding (in shares)			0		0
Fair value settlements			$ 700	$ 17,000
Warrant Exchange Offer
Derivative instruments
Warrants and rights outstanding						11,900
(Loss) gain on common stock warrants						$ (5,700)	$ 400
Warrant
Derivative instruments
Stock warrants issued (in shares)		10,349,975
Shares of common stock underlying each warrant (in shares)		1
Exercise price of warrants (in usd per share)		$ 11.50
Period after business combination close in which warrants become exercisable		30 days
Common stock issued for exercise of warrants (in shares)						461

Stock Incentive Plan - Additional information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of options (in dollars per share) \| $ / shares	$ 1.38
Weighted average outstanding remaining contractual terms (in years)	8 years 6 months 3 days
Weighted average exercisable remaining contractual terms (in years)	8 years 4 months 24 days
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards authorized (in shares)	6,500,000
Number of common stock available for future awards (in shares)	5,000,000.0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value of restricted stock awards vested \| $	$ 1.0
Awards granted (in shares)	383,430
Awards granted (in dollars per share) \| $ / shares	$ 6.07
Restricted Stock Awards \| Employee And Consultants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Restricted Stock Awards \| Non Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	1 year
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Awards granted (in shares)	70,958
Awards granted (in dollars per share) \| $ / shares	$ 7.51
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan term (in years)	10 years
Number of anniversaries	2 years
Options granted (in shares)	134,375
Stock Options \| Vesting immediately
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options that vested (in percent)	33.00%
Stock Options \| Vesting on second anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options that vested (in percent)	33.00%
Stock Options \| Vesting on third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options that vested (in percent)	33.00%
Minimum \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of share ultimately issued (as a percent)	0.00%
Maximum \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of share ultimately issued (as a percent)	200.00%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
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

Asset Retirement Obligations

12 Months Ended

Dec. 31, 2024

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

The Company recognizes the fair value of its asset retirement obligations related to the future costs of plugging, abandonment, and remediation of oil and natural gas producing properties at the times the obligations are incurred. Upon initial recognition of a liability, that cost is capitalized as part of the related oil and natural gas properties and allocated to expense over the useful life of the asset. Our asset retirement obligations primarily represent the present value of the estimated amount we will incur to plug, abandon and remediate our proved producing properties at the end of their productive lives, in accordance with applicable state laws.

The following table presents the changes in the asset retirement obligations during the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Asset retirement obligations, beginning of year	$	9,874	$	4,963	$	2,962
Liabilities incurred during the period	760		2,370		1,012
Revision of estimates(1)	—		2,596		490
Accretion of discount during the period	791		441		499
Disposals or settlements	(504)		(496)		—
Asset retirement obligations, end of year	$	10,921	$	9,874	$	4,963
Less current portion of asset retirement obligations	228		483		218
Asset retirement obligations, long-term	$	10,693	$	9,391	$	4,745

__________________________________________

(1)Revisions in estimated liabilities during 2023 relate primarily to changes in estimated well lives, while revisions in 2022 relate primarily to changes in estimates of asset retirement costs.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

As it pertains to periods prior to completion of the Business Combination, the financial statements have been presented on a combined historical basis due to the Funds' prior common ownership and control. Prior to the Business Combination, the financial statements include the accounts of the Funds, all of which were commonly owned and controlled. All inter-entity balances and transactions have been eliminated in combination.

As it pertains to periods subsequent to completion of the Business Combination, the accompanying consolidated financial statements also include the accounts of the Company and all other wholly owned subsidiaries created in connection with the Business Combination. References to the “Company” prior to October 24, 2022 refer to the combined business of the Funds and references after October 24, 2022 refer to the consolidated business of Granite Ridge Resources, Inc.

Basis of Presentation

As a result of the Business Combination, periods prior to October 24, 2022 reflect the Funds as limited partnerships, not as corporations. The primary financial impacts of the Transactions to the consolidated financial statements were (i) reclassification of partnership capital accounts to equity accounts reflective of a corporation and (ii) income tax effects. Since the Funds were identified as entities under common control, the consolidated financial statements for periods prior to the GREP Formation Transaction have been adjusted to retrospectively combine the previously separate entities for presentation purposes. All intercompany transactions within the consolidated businesses of the Company have been eliminated.

The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Segment Reporting

The Company operates in one reporting segment, which is oil and natural gas development, exploration and production. All of our operations are conducted in the geographic area of the United States. The reporting segment generates revenue through the sale of oil and natural gas. The Company’s chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer, manages operations on a consolidated basis for purposes of evaluating operational performance and allocating resources. Net income, as reported within the Company’s consolidated statement of operations, is used by the CODM to assess performance for the oil and natural gas development, exploration and production segment. Significant segment expenses are the same as those reported in the consolidated statement of operations. Total assets, as reported within the Company’s consolidated balance sheets, is the measure of segment assets.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates of reserves are used to determine depletion and to conduct impairment analysis. Estimating reserves is inherently uncertain, including the projection of future rates of production and the timing of development expenditures.

The Company’s estimates of oil and natural gas reserves are, by necessity, projections based on geologic and engineering data, and there are uncertainties inherent in the interpretation of such data as well as the projection of future rates of production and the timing of development expenditures. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that are difficult to measure. The accuracy of any reserve estimate is a function of the quality of available data, engineering and geological interpretation and judgment. Estimates of economically recoverable oil and natural gas reserves and future net cash flows necessarily depend upon a number of variable factors and assumptions, such as historical production from the area compared with production from other producing areas, the assumed effect of regulations by governmental agencies, and assumptions governing future oil and natural gas prices, future operating costs, severance taxes, development costs and workover costs, all of which may in fact vary considerably from actual results. The future drilling costs associated with reserves assigned to proved undeveloped locations may ultimately increase to the extent that these reserves are later determined to be uneconomic. For these reasons, estimates of the economically recoverable quantities of expected oil and natural gas attributable to any particular group of properties, classifications of such reserves based on risk of recovery, and estimates of the future net cash flows may vary substantially. Any significant variance in the assumptions could materially affect the estimated quantity of the reserves, which could affect the carrying value of the Company’s oil and natural gas properties and/or the rate of depletion related to the oil and natural gas properties.

Additional significant estimates include, but are not limited to, fair value of derivative financial instruments, fair value of assets acquired and liabilities assumed for business combinations, fair value of oil and natural gas properties for impairment, asset retirement obligations, revenue receivable and income taxes. Actual results could differ from those estimates.

Reclassifications

Certain reclassifications have been made to prior years' reported amounts to conform to the current year presentation.

Cash and Restricted Cash

Cash represents liquid cash and investments with an original maturity of 90 days or less. The Company places its cash with reputable financial institutions. At times, the balances deposited may exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). However, management believes that the Company’s counterparty risks are minimal based on the reputation and history of the institutions selected. The Company has not incurred any losses related to amounts in excess of FDIC limits.

Restricted cash consists of cash that is stated at cost, which approximates fair market value. Classification of restricted cash is based on the nature of the restrictions associated with the underlying assets. As of December 31, 2023, the Company had $0.3 million of cash classified as restricted. The restricted balance related to a cash deposit for two standby letters of credit associated with oil and natural gas mining lease agreements. During 2024, the standby letters of credit were terminated and, as a result, the Company has no restricted cash at December 31, 2024.

Revenue Receivable

Revenue receivable is comprised of accrued oil and natural gas sales. The operators remit payment for production directly to the Company. In the event of complete non-performance by the Company’s customers, the maximum exposure to the Company is the outstanding revenue receivable balance at the date of non-performance. The Company monitors this exposure primarily by reviewing credit ratings, financial statements and payment history. Revenue receivables are generally unsecured and are typically received from the operator one to three months after production. As of December 31, 2024 and 2023, the Company had an allowance for expected credit losses of $0.2 million, which was based on a historical loss rate.

The Company considers forecasts of future economic conditions in the estimate of its expected credit losses, in particular whether there is an increase in the probability that the Company’s counterparties are unable to pay their obligations when due, and adjusts its allowance for expected credit losses when necessary.

Advance to Operators

The Company participates in the drilling of oil and natural gas wells with other working interest partners. Due to the capital-intensive nature of oil and natural gas drilling activities, our partner operators may request advance payments from working interest partners for their share of the costs. The Company expects such advances to be applied by these operators against joint interest billings for its share of drilling operations within 90 days from when the advance is paid. Changes in advances to operators are presented as an investing outflow within capital expenditures for oil and natural gas properties on the consolidated statements of cash flows.

Oil and Natural Gas Properties

The Company uses the successful efforts method of accounting for oil and natural gas producing activities, as further defined under ASC 932, "Extractive Activities - Oil and Gas" (“ASC 932”). Costs to acquire mineral interests in oil and gas properties, to drill and equip exploratory leases that find proved reserves, and to drill and equip development leases and related asset retirement costs are capitalized. Costs to drill exploratory wells are capitalized pending determinations of whether the wells have proved reserves. If the Company determines that the wells do not have proved reserves, the costs are charged to expense. There were no exploratory wells capitalized pending determinations of whether the wells have proved reserves as of December 31, 2024 or 2023.

Capitalized leasehold costs relating to proved properties are depleted using the unit-of-production method based on proved reserves. The depletion of capitalized drilling and development costs and integrated assets is based on the unit-of-production method using proved developed reserves. The Company recognized depletion expense of $175.7 million, $160.2 million and $105.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. As a result of the Business Combination, the Company aggregated certain proved properties for amortization and impairment purposes.

Costs of significant nonproducing properties, wells in the process of being drilled and completed and development projects are excluded from depletion until the related project is completed. Costs incurred to maintain wells and related equipment are charged to expense as incurred. The Company capitalizes interest on expenditures for significant exploration and development projects that last more than six months while activities are in progress to bring the assets to their intended use. No interest costs were capitalized for the years ended December 31, 2024 and 2022. For the year ended December 31, 2023, $1.0 million of interest costs were capitalized.

Gains or losses are recorded for sales or dispositions of proved oil and gas properties which constitute an entire depletion base or from the sale of less than an entire depletion base if the disposition is significant enough to materially impact the depletion rate of the remaining properties in the depletion base. Dispositions of individual properties that do not

significantly alter the depletion rates are generally accounted for as adjustments to capitalized costs with no gain or loss recorded.

The Company reviews its long-lived assets to be held and used, including proved oil and natural gas properties, whenever events or circumstances indicate that the carrying value of those assets may not be recoverable; for instance, when there are declines in commodity prices or well performance. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. For each property determined to be impaired, an impairment loss equal to the difference between the carrying value of the properties and the estimated fair market value is recognized at that time. The fair value of impaired assets is determined using the market or income valuation approach. The income approach is calculated using a discounted cash flow model. Discounted future cash flows use a discount rate similar to that used by market participants, or comparable market value if available. Estimating future cash flows involves the use of judgments, including estimation of the proved and risk-adjusted unproved oil and natural gas reserve quantities, timing of development and production, expected future commodity prices, capital expenditures and production costs. The Company recorded proved property impairment of $35.6 million and $26.5 million for the years ended December 31, 2024 and 2023, respectively. There were no proved property impairment indicators for the year ended December 31, 2022.

Unproved oil and natural gas properties are periodically assessed for impairment by considering future drilling and exploration plans, results of exploration activities, commodity price outlooks, planned future sales and expiration of all or a portion of the projects. The Company recorded unproved oil and gas properties impairment of $0.7 million for the year ended December 31, 2024. The Company did not record any unproved oil and gas properties impairment for the years ended December 31, 2023 or 2022.

Derivative Instruments- Commodity Derivatives

The Company recognizes its derivative instruments as either assets or liabilities measured at fair value. The Company nets the fair value of the derivative instruments by counterparty in the accompanying consolidated balance sheets when the right of offset exists. The Company does not have any derivatives designated as fair value or cash flow hedges.

Derivative Instruments- Common Stock Warrants

Prior to the Warrant Exchange, the Company accounted for warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”) and ASC Topic 815, "Derivatives and Hedging" (“ASC 815”). The warrants were required to be recorded at their initial fair value on the date of issuance and each balance sheet date thereafter. Changes in the estimated fair value of the warrants were recognized as a non-operating gain or loss in the consolidated statements of operations. For the period during which the Company’s common stock was publicly traded, the fair value of the warrants was based on quoted prices in an active market.

On June 22, 2023, the Company issued 2,471,738 shares of common stock in exchange for 9,887,035 warrants tendered in the Offer. In July 2023, each remaining outstanding warrant was converted into 0.225 shares of the Company’s common stock, and subsequently, no warrants remained outstanding.

Equity Investments

In December 2023, the Company completed the sale of certain of its Permian Basin assets to Vital Energy, Inc. ("Vital Energy") for consideration of 561,752 shares of Vital Energy's common stock and 541,155 shares of Vital Energy's 2.0% cumulative mandatorily convertible preferred securities.

On June 4, 2024, the 2.0% cumulative mandatorily convertible preferred securities were converted into the equivalent number of shares of Vital Energy’s common stock. During the year ended December 31, 2024, the Company divested 75,000 shares of Vital Energy’s common stock and realized a gain on sale of $0.1 million included in gain (loss) on equity investments within the Company’s consolidated statements of operations.

The Company follows the guidance in ASC 321, "Investments - Equity Securities" (“ASC 321”) for its investment in the common and preferred stock of Vital Energy. ASC 321 requires equity investments with readily determinable fair values to be measured at fair value, with unrealized holding gains and losses recorded as a gain or loss in the consolidated statements

of operations. For the preferred stock that did not have a readily determinable fair value, the Company did not elect the measurement alternative in ASC 321 and instead accounted for the preferred stock at fair value with unrealized gains and losses recorded through net income for the periods until the preferred stock was converted into common stock. For the year ended December 31, 2024, an unrealized loss of $15.3 million is included in gain (loss) on equity investments within the Company's consolidated statements of operations that reflects the change in fair value of the common stock. For the year ended December 31, 2023, the Company recorded an unrealized gain of $0.5 million related to the Vital Energy common and preferred shares.

Asset Retirement Obligations

The Company follows the provisions of ASC 410-20, "Asset Retirement Obligations" ("ASC 410-20"). ASC 410-20 requires entities to record the fair value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The Company’s asset retirement obligations relate to the plugging, dismantlement, removal, site reclamation and similar activities of its oil and natural gas properties. When the liability is initially recorded, the entity capitalizes a cost by increasing the carrying amount of the related oil and natural gas property asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depleted over the useful life of the related asset. Based on certain factors, including commodity prices and costs, the Company may revise its previous estimates of the liability, which would also increase or decrease the related oil and natural gas property asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss for the difference of the settled amount and recorded liability.

Asset retirement obligations are estimated at the present value of expected future net cash flows and are discounted using the Company’s credit adjusted risk free rate. The Company uses unobservable inputs in the estimation of asset retirement obligations that include, but are not limited to, costs of labor, costs of materials, profits on costs of labor and materials, the effect of inflation on estimated costs, and the discount rate. Due to the subjectivity of assumptions and the relatively long lives of the Company’s leases, the costs to ultimately retire the Company’s leases may vary significantly from prior estimates.

Revenue Recognition

The Company’s revenues are primarily derived from its interests in the sale of oil and natural gas production. The Company recognizes revenue from its interests in the sales of oil and natural gas in the period that its performance obligations are satisfied.

Performance obligations are satisfied when the customer obtains control of the product, when the Company has no further obligations to perform related to the sale, when the transaction price has been determined, and when collectability is probable.

The Company receives payment from the sale of oil and natural gas production from one to three months after delivery. The transaction price is variable as it is based on market prices for oil and natural gas, less revenue deductions such as gathering, transportation and compression costs. Management has determined that the variable revenue constraint is overcome at the date control passes to the customer since the variable consideration to be received can be reasonably estimated based on daily market prices and historical transportation charges. Revenue is presented net of these costs within the consolidated statements of operations. At the end of each month when the performance obligation is satisfied, the variable consideration can be reasonably estimated and amounts due from customers are accrued in revenue receivable in the consolidated balance sheets. Variances between the Company’s estimated revenue and actual payments are recorded in the month the payment is received; however, differences have been and are insignificant.

The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical expedient in accordance with ASC 606. The expedient, as described in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required.

Non-operated Crude Oil and Natural Gas Revenues

The Company’s proportionate share of production from non-operated properties is generally marketed at the discretion of the operators. For non-operated properties, the Company receives a net payment from the operator representing its proportionate share of sales proceeds, which is net of revenue deductions such as gathering, transportation and compression costs incurred by the operator. Such non-operated revenues are recognized at the net amount of proceeds to be received by the Company during the month in which production occurs and it is probable the Company will collect the consideration it is entitled to receive. Proceeds are generally received by the Company within one to three months after the month in which production occurs.

Take-in Kind Oil and Natural Gas Revenues

Under certain arrangements, the Company has the right to take a volume of unprocessed gas in kind at the operator's wellhead, representing its proportionate share of its natural gas production, in lieu of receiving a net payment from the operator. The Company currently takes certain natural gas volumes in kind in lieu of monetary settlement. When the Company elects to take volumes in kind, it pays third parties to transport the natural gas it took in kind to downstream delivery points, where it then sells to customers at prices applicable to those downstream markets. In such situations, revenues are recognized during the month in which control transfers to the customer at the delivery point and it is probable the Company will collect the consideration it is entitled to receive. Sales proceeds are generally received by the Company within one month after the month in which a sale has occurred. In these scenarios, gathering and processing costs and transportation expenses the Company incurs to transport the volumes to downstream customers are recorded in lease operating expenses in the consolidated statements of operations.

Disaggregated Oil and Natural Gas Revenues

The Company’s disaggregated revenue has two primary sources: oil sales and natural gas sales. Substantially all of the Company’s oil and natural gas sales come from six geographic areas in the United States: the Eagle Ford Basin (Texas), the Permian Basin (Texas/New Mexico), the Haynesville Basin (Texas/Louisiana), the Denver-Julesburg “DJ” Basin (Colorado), the Bakken Basin (Montana/North Dakota), and Appalachian Basin (Ohio). The Company previously owned oil and natural gas assets in the SCOOP/STACK Basin in Oklahoma, which were sold during the year ended December 31, 2022. The following tables present the disaggregation of the Company’s oil and natural gas revenues by basin for the years ended December 31, 2024, 2023 and 2022.


	Year Ended December 31,
(in thousands)	2024		2023		2022
Oil	$	327,491	$	317,099	$	338,163
Natural gas	52,539		76,970		159,254
Total	$	380,030	$	394,069	$	497,417


Permian	$	238,052	$	237,730	$	266,856
Eagle Ford	54,399		46,410		64,879
Bakken	40,358		51,128		64,999
Haynesville	16,776		24,833		62,743
DJ	29,980		33,968		37,880
SCOOP/STACK	—		—		60
Appalachian	465		—		—
Total	$	380,030	$	394,069	$	497,417

Lease Operating Expenses

Lease operating expenses represents field employees’ salaries, saltwater disposal, repairs and maintenance, expensed workovers and other operating expenses. Lease operating expenses are expensed as incurred.

Production and Ad Valorem Taxes

The Company incurs production taxes on the sale of its production. These taxes are reported on a gross basis. Production taxes for the years ended December 31, 2024, 2023 and 2022 were approximately $21.0 million, $24.9 million and $26.9 million, respectively.

The Company incurs ad valorem tax on the value of its properties in certain states. Ad valorem taxes for the years ended December 31, 2024, 2023 and 2022 were approximately $5.0 million, $2.8 million and $3.7 million, respectively.

Income Taxes

Prior to the Business Combination, GREP and the associated activities held by the Funds were treated as partnerships for U.S. federal income tax purposes and were not subject to U.S. federal income tax. As a result of the Business Combination, the Company became a C corporation and is subject to U.S. federal income tax and state and local income taxes, and accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rate on deferred income tax assets and liabilities is recognized in income in the period that includes the enactment date.

A valuation allowance is provided for deferred income taxes if it is more likely than not these items will either expire before the Company is able to realize their benefits or if future deductibility is uncertain. Additionally, the Company evaluates tax positions under a more likely than not recognition threshold and measurement analysis before the positions are recognized for financial statement reporting.

Stock-Based Compensation

Stock-based compensation expense is recognized in the Company's consolidated financial statements on an accelerated basis over the awards' vesting periods based on their grant date fair values. Restricted stock awards are valued at the closing price of the Company's common stock on the date of grant. The Company utilizes the Monte Carlo simulation method to determine the fair value of certain performance stock units ("PSUs"), the Black-Scholes model for options issued at-the-money and a binomial lattice model for other stock options. The Company recognizes forfeitures of stock-based compensation awards as they occur.

Recently Issued and Applicable Accounting Pronouncements (Issued and Not Yet Adopted)

In December 2023, the FASB issued ASU 2023-09, "Improvements to Income Tax Disclosures" ("ASU 2023-09") which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company has not early adopted the standard and is currently assessing the effect that ASU 2023-09 will have on its disclosures.

In November 2024, the FASB issued ASU 2024-03, "Disaggregation of Income Statement Expenses", ("ASU 2024-03") which requires enhanced disclosure about specific types of expenses included in the expense captions presented on the face of the consolidated income statement as well as disclosures about selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company has not early adopted the standard and is currently assessing the effect that ASU 2024-03 will have on its disclosures.

Recently Issued and Applicable Accounting Pronouncements (Issued and Adopted)

The FASB issued ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which replaced the “incurred loss” methodology for recognizing credit losses with an “expected loss” methodology. This new methodology requires that a financial asset measured at amortized cost be presented at the net amount expected to be collected. This standard is intended to provide more timely decision-useful information about the expected credit losses on financial instruments. The adoption of this guidance on January 1, 2023 did not have a material impact on the Company’s consolidated financial statements or related disclosures. Revenue receivable is the primary financial asset that is within the scope of the new guidance. A loss-rate method is applied to the receivables to estimate credit losses. The Company recognized a tax effected $0.1 million non-cash cumulative effect adjustment to retained earnings on its opening consolidated balance sheet at January 1, 2023 to record an allowance for expected credit losses associated with the Company’s revenue receivable.

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", ("ASU 2023-07") which requires public entities, including public entities with a single reportable segment, to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets. ASU 2023-07 was effective for annual periods beginning after December 15, 2023, and is effective for interim periods beginning after December 15, 2024. The Company adopted this accounting standard beginning in this Annual Report on Form 10-K. See Segment Reporting section of this note for enhanced disclosures resulting from the adoption of ASU 2023-07.

Stock Incentive Plan

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Incentive Plan

The Granite Ridge Resources, Inc. 2022 Omnibus Incentive Plan (the “Plan”) provides the Company the ability to grant, among other award types, stock options, restricted stock awards, and PSUs to directors, officers, employees and consultants or advisors employed by or providing service to the Company. The maximum number of shares of common stock that may be issued under the Plan is 6.5 million shares. As of December 31, 2024, the Company had 5.0 million shares of common stock remaining available for future awards under the Plan. Shares issued as a result of awards granted under the Plan are generally new common shares.

Stock-based compensation expense is recognized net of forfeitures within general and administrative expenses on the consolidated statements of operations. The Company has elected to account for forfeitures of stock-based compensation awards as they occur in determining compensation expense. The stock-based compensation expense is presented below for the indicated periods:


	Year Ended December 31,
(in thousands)	2024		2023
Stock-based compensation expense
Restricted Stock Awards	$	1,872	$	1,081
Performance Stock Units	210		47
Stock Options	216		234
Other Awards	—		800
Total stock-based compensation expense	$	2,298	$	2,162

There was no stock-based compensation expense for the year ended December 31, 2022.

Restricted Stock Awards - The Company grants service-based restricted stock awards to certain of its employees and consultants, which vest ratably over a period of three years, and to non-employee directors, which vest in full after one year. Restricted stock awards are valued at the closing price of the Company's common stock on the date of grant. All restricted shares are legally issued and outstanding. If an employee terminates employment prior to the restriction lapse date, the awarded shares are forfeited and canceled and are no longer considered issued and outstanding. The holders of unvested restricted stock awards have voting rights and the right to receive dividends. The Company recognizes compensation expense utilizing graded vesting whereby compensation expense is recognized over the service period for each separately vesting tranche. A summary of the Company's restricted stock award activity for the year ended December 31, 2024 is presented below.


	Restricted Stock Awards	Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2023	295,990	$	5.75
Awards granted	383,430	$	6.07
Awards canceled/forfeited	(6,530)	$	5.74
Awards vested	(154,842)	$	6.47
Outstanding at December 31, 2024	518,048	$	5.77

The aggregate fair value of restricted stock awards that vested during the year ended December 31, 2024 was $1.0 million.

PSUs - The Company has granted PSUs to certain of its officers under the Plan. The PSUs cliff vest at the end of three years, generally subject to continued employment through the performance period. The total number of shares eligible to be earned may range from zero to 200% of the target number of PSUs granted, determined based upon achievement of certain “financial performance” and “market performance” criteria for the Company and individual performance criteria for the officers awarded PSUs. Financial performance is based on the Company’s financial performance at the end of the

applicable performance period, while market performance is based on the relative standing of total shareholder return achieved by the Company compared to a predetermined group of peer companies at the end of the applicable performance period. Individual performance criteria is based on the officer's performance relative to individual performance goals at the end of the performance period. The Company utilizes the Monte Carlo simulation method to determine the fair value of the PSUs based on market performance, while PSUs based on financial performance are valued using the closing price of the Company's common stock on the date of grant.

A summary of the Company's PSU activity for the year ended December 31, 2024 is presented below.


	Performance Stock Units	Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2023	26,574	$	6.01
Awards granted	70,958	$	7.51



Outstanding at December 31, 2024	97,532	$	7.10

Stock Options - The Company has granted stock options to certain of its officers under the Plan. The Company’s outstanding stock options expire 10 years following the date of grant. Pursuant to the stock options granted under the Plan, 33% of the options vest immediately with an additional 33% to vest on each of the next two anniversaries of the date of the grant, generally subject to continued employment through each such vesting date. A summary of the Company's stock option activity for the year ended December 31, 2024 is presented below.


	Stock Options	Weighted Average Exercise Price Per Share		Aggregate intrinsic value
				(in thousands)
Outstanding at December 31, 2023	392,108	$	8.45
Options granted	134,375	$	6.06
Options canceled/forfeited	—	$	—
Options exercised	—	$	—
Outstanding at December 31, 2024	526,483	$	7.84	$	158
Options exercisable at December 31, 2024	306,195	$	8.10	$	87

The fair value of each stock option award is estimated on the date of grant. For stock options granted at-the-money, grant date fair value is estimated using the Black-Scholes pricing model. As these options represent plain vanilla options and the Company did not have historical exercise detail, the expected term for these options was estimated using the simplified method allowed under Staff Accounting Bulletin Topic 14.D.2, which is the average of the weighted average vesting term and time to expiration as of the grant date. For stock options granted with an exercise price higher than the stock price at the date of grant, grant date fair value is estimated using a lattice-based option valuation model that incorporates a range of assumptions. Expected volatilities were based on historical volatilities of the Company's stock and other factors. The expected term was derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding. The weighted average fair value of stock options on the date of the grant during the year ended December 31, 2024 was $1.38 per share. The weighted average remaining terms on the outstanding options and the exercisable options was 8.51 years and 8.4 years, respectively. The Company used the following assumptions to estimate the fair value of stock options granted during the year ended December 31, 2024:

Risk-free interest rate

4.0%

Volatility

44.0%

Expected term

5.53 years

Dividend yield

7.3%

Future stock-based compensation expense - The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding at December 31, 2024:


(in thousands)	Restricted Stock Awards		Performance Stock Units		Stock Options
2025	$	748	$	245	$	54
2026	269		186		6
2027	34		—		—
Total	$	1,051	$	431	$	60

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2024

Oil and Gas, Joint Interest Billing, Receivable [Abstract]

Schedule of Cumulative Adjusted Purchase Price of Asset Acquisition

The following table presents the cumulative adjusted purchase price of transactions accounted for as asset acquisitions, by basin, included in oil and gas properties on the Company’s consolidated balance sheets:


	Year Ended December 31,
(in thousands)	2024		2023
Permian	46,494		24,534
Eagle Ford	—		2,800
Bakken	1,981		—
Haynesville	—		2,921
DJ	5,325		16,620
Appalachian	10,357		—
Total	$	64,157	$	46,875

Summary of the fair value of the assets acquired and the liabilities assumed


(in thousands)
Fair value of assets acquired and liabilities assumed
Proved oil and natural gas properties(1)	$	15,488
Unproved properties	16,545
Total oil and natural gas properties	32,033
Less: Asset retirement obligations	(341)
Net assets acquired	$	31,692
Consideration transferred (including liabilities assumed)	$	31,692

__________________________________________

(1)Amount includes asset retirement costs of $0.3 million.

Acquisitions and Divestitures - Narrative (Details)	1 Months Ended		12 Months Ended
Acquisitions and Divestitures - Narrative (Details)	Dec. 31, 2023 USD ($) shares	Sep. 30, 2023 USD ($) a	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) acquisition	Dec. 31, 2022 USD ($)
Oil and natural gas properties
Number of businesses acquired \| acquisition				3
Proceeds from the disposal of oil and natural gas properties			$ 13,995,000	$ 60,000	$ 4,845,000
2024 Divestitures
Oil and natural gas properties
Proceeds from the disposal of oil and natural gas properties			14,900,000
Gain (loss) on oil and gas property divestitures			$ 500,000
2023 Acquisitions
Oil and natural gas properties
Business acquisition, cash consideration transferred				31,692,000
Fair value of properties acquired	$ 32,033,000			32,033,000
Unproved Oil and Natural Gas Properties \| 2023 Acquisitions
Oil and natural gas properties
Fair value of properties acquired	16,545,000			16,545,000
Proved Oil and Natural Gas Properties \| 2023 Acquisitions
Oil and natural gas properties
Fair value of properties acquired	15,488,000			15,488,000
Permian, Eagle Ford and Denver Julesburg Basins \| 2023 Acquisitions
Oil and natural gas properties
Net acres \| a		281
Business acquisition, cash consideration transferred		$ 8,200,000
Asset retirement obligations incurred and acquired		$ 200,000
Haynesville Basin \| 2023 Acquisitions
Oil and natural gas properties
Business acquisition, cash consideration transferred	22,200,000
Asset retirement obligations incurred and acquired	200,000
Haynesville Basin \| Proved and Unproved Oil And Natural Gas Properties \| 2023 Acquisitions
Oil and natural gas properties
Business acquisition, cash consideration transferred	$ 1,400,000
Permian \| 2023 Divestitures
Oil and natural gas properties
Gain (loss) on oil and gas property divestitures				$ 0
Permian \| 2023 Divestitures \| Common Stock \| Vital Energy, Inc
Oil and natural gas properties
Noncash or part noncash divestiture, consideration received (in shares) \| shares	561,752
Permian \| 2023 Divestitures \| Convertible Preferred Stock
Oil and natural gas properties
Preferred stock, dividend rate (in percent)	2.00%
Permian \| 2023 Divestitures \| Convertible Preferred Stock \| Vital Energy, Inc
Oil and natural gas properties
Noncash or part noncash divestiture, consideration received (in shares) \| shares	541,155

Summary of Significant Accounting Policies - Production and Ad Valorem taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Production Tax Expense	$ 21.0	$ 24.9	$ 26.9
Ad valorem taxes	$ 5.0	$ 2.8	$ 3.7

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative activity by volume

The following table sets forth the Company’s outstanding commodity derivative contracts as of December 31, 2024.


	2025										2026
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total		Total
Collars (oil)
Volume (Bbl)	764,903		623,266		522,210		494,000		2,404,379		788,980
Weighted-average floor price ($/Bbl)	$	61.59	$	60.27	$	61.65	$	60.00	$	60.93	$	60.00
Weighted-average ceiling price ($/Bbl)	$	78.52	$	77.82	$	79.43	$	77.23	$	78.27	$	69.68
Collars (natural gas)
Volume (Mcf)	4,134,179		1,075,438		2,441,757		2,662,615		10,313,989		8,154,446
Weighted-average floor price ($/Mcf)	$	3.30	$	3.00	$	3.00	$	3.10	$	3.14	$	3.29
Weighted-average ceiling price ($/Mcf)	$	4.56	$	3.75	$	3.75	$	3.89	$	4.11	$	4.06
Swaps (natural gas)
Volume (Mcf)	—		2,548,520		717,450		212,350		3,478,320		1,253,400
Weighted-average price ($/Mcf)	$	—	$	3.19	$	3.17	$	3.16	$	3.18	$	3.41

Schedule of commodity derivatives reported in earnings

The following table summarizes the amounts reported in the consolidated statements of operations related to the commodity derivative instruments for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Gain (loss) on commodity derivatives
Oil derivatives	$	(10,260)	$	6,459	$	(14,985)
Natural gas derivatives	9,352		19,085		(10,339)
Total	$	(908)	$	25,544	$	(25,324)

Schedule of net cash receipts (payments on) commodity derivatives

The following table represents the Company’s net cash receipts (payments on) commodity derivatives for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Net cash receipts from (payments on) commodity derivatives
Oil derivatives	$	1,503	$	4,576	$	(23,695)
Natural gas derivatives	14,860		18,319		(18,742)
Total	$	16,363	$	22,895	$	(42,437)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Stock Incentive Plan - Assumptions to Estimate the Fair Value (Details) - Stock Options	12 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate, minimum (percent)	4.00%
Volatility, minimum (percent)	44.00%
Dividend yield (percent)	7.30%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months 10 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net income	$ 18,759	$ 81,099	$ 262,344
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion and accretion expense	176,529	160,662	105,752
Impairments of long-lived assets	36,369	26,496	0
(Gain) loss on derivatives - commodity derivatives	908	(25,544)	25,324
Net cash receipts from (payments on) commodity derivatives	16,363	22,895	(42,437)
Stock-based compensation	2,298	2,162	0
Amortization of loan origination costs	3,540	1,260	159
(Gain) loss on derivatives - common stock warrants	0	5,742	(362)
(Gain) loss on equity investments	15,183	(508)	0
Deferred income taxes	5,958	24,274	12,850
Other	(1,034)	(313)	0
Increase (decrease) in cash attributable to changes in operating assets and liabilities:
Revenue receivable	3,288	(846)	(24,989)
Other receivable	183	103	0
Accrued expenses	(1,153)	4,550	9,838
Prepaid and other current assets	(1,411)	485	(2,095)
Other payable	(47)	350	5
Net cash provided by operating activities	275,733	302,867	346,389
Investing activities:
Capital expenditures for oil and natural gas properties	(285,796)	(282,390)	(185,497)
Acquisition of oil and natural gas properties	(61,197)	(76,810)	(49,191)
Deposit on acquisition	(887)	0	(1,899)
Refund of advances to operators	19,655	2,464	1,180
Proceeds from the disposal of oil and natural gas properties	13,995	60	4,845
Proceeds from the sale of equity investments	3,462	0	0
Net cash used in investing activities	(310,768)	(356,676)	(230,562)
Financing activities:
Proceeds from borrowing on credit facilities	110,000	162,500	21,000
Repayments of borrowing on credit facilities	(15,000)	(52,500)	(72,100)
Deferred financing costs	(3,340)	(2,616)	(3,237)
Payment of expenses related to formation of Granite Ridge Resources, Inc.	0	(43)	(18,456)
Purchase of treasury shares	(442)	(35,353)	(216)
Payment of dividends	(57,494)	(58,587)	(10,664)
Proceeds from issuance of common stock	0	5	6,825
Net cash provided by (used in) financing activities	33,724	13,406	(76,848)
Net change in cash and restricted cash	(1,311)	(40,403)	38,979
Cash and restricted cash at beginning of year	10,730	51,133	12,154
Cash and restricted cash at end of year	9,419	10,730	51,133
Supplemental disclosure of cash flow information:
Cash paid during the year for interest	(14,472)	(4,825)	(2,286)
Cash paid during the year for income taxes	(197)	(742)	(98)
Supplemental disclosure of non-cash investing activities:
Oil and natural gas properties divested in exchange for equity securities	0	49,920	0
Oil and natural gas property development costs in accrued expenses	36,736	(12,325)	48,187
Advances to operators applied to development of oil and natural gas properties	121,922	98,224	103,535
Cash and restricted cash:
Cash	9,419	10,430	50,833
Restricted cash included in other long-term assets	0	300	300
Cash and restricted cash	$ 9,419	$ 10,730	$ 51,133

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash	$ 9,419	$ 10,430
Revenue receivable	69,692	72,934
Advances to operators	19,959	4,928
Prepaid and other current assets	3,831	1,716
Derivative assets - commodity derivatives	537	11,117
Equity investments	31,783	50,427
Total current assets	135,221	151,552
Property and equipment:
Oil and gas properties, successful efforts method	1,540,021	1,236,683
Accumulated depletion	(643,051)	(467,141)
Total property and equipment, net	896,970	769,542
Long-term assets:
Derivative assets - commodity derivatives	0	1,189
Other long-term assets	4,288	4,821
Total long-term assets	4,288	6,010
Total assets	1,036,479	927,104
Current liabilities:
Accounts payable and accrued liabilities	99,440	60,875
Other liabilities	546	1,204
Derivative liabilities - commodity derivatives	1,822	0
Total current liabilities	101,808	62,079
Long-term liabilities:
Long-term debt	205,000	110,000
Derivative liabilities - commodity derivatives	3,679	0
Asset retirement obligations	10,693	9,391
Deferred tax liability	79,946	73,989
Total long-term liabilities	299,318	193,380
Total liabilities	401,126	255,459
Commitments and contingencies (Note 11)
Stockholders' Equity:
Common stock, $0.0001 par value, 431,000,000 shares authorized, 136,417,677 and 136,040,777 issued at December 31, 2024 and 2023, respectively	14	14
Additional paid-in capital	655,472	653,174
Retained earnings	16,047	54,782
Treasury stock, at cost, 5,683,921 and 5,677,627 shares at December 31, 2024 and 2023, respectively	(36,180)	(36,325)
Total stockholders' equity	635,353	671,645
Total liabilities and stockholders' equity	$ 1,036,479	$ 927,104

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Schedule of Accrued expenses

The following table provides the components of the Company’s accounts payable and accrued liabilities at December 31, 2024 and December 31, 2023:


	December 31,
(in thousands)	2024		2023
Accounts payable and accrued liabilities:
Accrued drilling costs	$	62,346	$	32,739
Accounts and JIB payable	26,438		20,037
Accrued production costs	7,646		5,729
Other	3,010		2,370
Total accounts payable and accrued liabilities	$	99,440	$	60,875

Stock Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense is presented below for the indicated periods:


	Year Ended December 31,
(in thousands)	2024		2023
Stock-based compensation expense
Restricted Stock Awards	$	1,872	$	1,081
Performance Stock Units	210		47
Stock Options	216		234
Other Awards	—		800
Total stock-based compensation expense	$	2,298	$	2,162

The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding at December 31, 2024:


(in thousands)	Restricted Stock Awards		Performance Stock Units		Stock Options
2025	$	748	$	245	$	54
2026	269		186		6
2027	34		—		—
Total	$	1,051	$	431	$	60

Schedule of Nonvested Restricted Stock Shares Activity

A summary of the Company's restricted stock award activity for the year ended December 31, 2024 is presented below.


	Restricted Stock Awards	Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2023	295,990	$	5.75
Awards granted	383,430	$	6.07
Awards canceled/forfeited	(6,530)	$	5.74
Awards vested	(154,842)	$	6.47
Outstanding at December 31, 2024	518,048	$	5.77

Schedule of Nonvested Performance-Based Units Activity

A summary of the Company's PSU activity for the year ended December 31, 2024 is presented below.


	Performance Stock Units	Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2023	26,574	$	6.01
Awards granted	70,958	$	7.51



Outstanding at December 31, 2024	97,532	$	7.10

Schedule of Share-Based Payment Arrangement, Option, Activity

A summary of the Company's stock option activity for the year ended December 31, 2024 is presented below.


	Stock Options	Weighted Average Exercise Price Per Share		Aggregate intrinsic value
				(in thousands)
Outstanding at December 31, 2023	392,108	$	8.45
Options granted	134,375	$	6.06
Options canceled/forfeited	—	$	—
Options exercised	—	$	—
Outstanding at December 31, 2024	526,483	$	7.84	$	158
Options exercisable at December 31, 2024	306,195	$	8.10	$	87

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The Company used the following assumptions to estimate the fair value of stock options granted during the year ended December 31, 2024:

Risk-free interest rate

4.0%

Volatility

44.0%

Expected term

5.53 years

Dividend yield

7.3%

Summary of Significant Accounting Policies - Derivative instruments- common stock warrants (Details) - shares	Jun. 22, 2023	Dec. 31, 2024	Jul. 31, 2023
Warrant Exchange Offer
Basin acquisition that met the definition of a business combination
Warrants tendered (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Shares of common stock underlying each warrant (in shares)	0.25		0.225
Warrants outstanding (in shares)			0
Amended Warrant Agreement Offer
Basin acquisition that met the definition of a business combination
Warrants tendered (in shares)	2,471,738
Number of warrants tendered (in shares)	9,887,035
Shares of common stock underlying each warrant (in shares)	0.25		0.225
Warrants outstanding (in shares)		0	0

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense

The Components of income tax expense were as follows for the periods indicated:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Current
Federal	$	—	$	—	$	—
State	249		209		—
	249		209		—
Deferred
Federal	$	6,449	$	22,314	$	11,444
State	(491)		1,960		1,406
	5,958		24,274		12,850
Income tax expense	$	6,207	$	24,483	$	12,850

Schedule of effective tax rate


	Year Ended December 31,
(in thousands)	2024			2023			2022
Income before income taxes	$	24,966		$	105,582		$	275,194

Income tax expense at federal statutory rate	5,243			22,172			57,791
Net (income) loss prior to Business Combination - non-taxable	—			—			(46,051)
Impact of prior tax returns	1,487			142			—
State income taxes, net of federal benefit	524			2,169			1,110
Impact of tax rate and apportionment updates	(1,047)			—			—
Income tax expense	$	6,207		$	24,483		$	12,850
Effective tax rate	24.9		%	23.2		%	4.7		%

Schedule of significant components of deferred tax assets and liabilities

Significant components of deferred tax assets and liabilities are included in the table below:


	Year Ended December 31,
(in thousands)	2024		2023
Deferred tax assets
Net operating loss carryforwards	$	14,152	$	13,677
Disallowed interest expense carryforward	5,410		1,335
Asset retirement obligations	2,459		2,169
Unrealized derivatives	1,118		—
Unrealized loss on investment	3,327		—
Other deductible temporary differences	831		495
Total deferred tax assets	27,297		17,676
Less: valuation allowance	—		—
Net deferred tax assets	$	27,297	$	17,676

Deferred tax liabilities
Property, plant and equipment	$	(107,243)	$	(88,870)
Unrealized derivatives	—		(2,795)
Total deferred tax liabilities	(107,243)		(91,665)
Net deferred tax liability	$	(79,946)	$	(73,989)

Stock Incentive Plan - Restricted Stock Awards and PSU (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restricted Stock Awards
Restricted Stock Awards
Beginning balance (in shares)	295,990
Awards granted (in shares)	383,430
Awards canceled/forfeited (in shares)	(6,530)
Awards canceled/forfeited (in shares)	(154,842)
Ending balance (in shares)	518,048
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning balance (in dollars per share)	$ 5.77	$ 5.75
Awards granted (in dollars per share)	6.07
Awards canceled/forfeited (in dollars per share)	5.74
Awards vested (in dollars per share)	6.47
Outstanding, ending balance (in dollars per share)	$ 5.77
Performance Stock Units
Restricted Stock Awards
Beginning balance (in shares)	26,574
Awards granted (in shares)	70,958
Ending balance (in shares)	97,532
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning balance (in dollars per share)	$ 7.10	$ 6.01
Awards granted (in dollars per share)	7.51
Outstanding, ending balance (in dollars per share)	$ 7.10

Risk Concentrations (Tables)

12 Months Ended

Dec. 31, 2024

Risks and Uncertainties [Abstract]

Schedule of third-party operating partners who have accounted for 10% or more of revenues


Major Operators	2024		2023		2022
Operator A	*		11	%	12	%
Operator B	*		12	%	10	%
Operator C	*		*		10	%
Operator D	14	%	*		*

__________________________________________

*Less than 10%

Summary of Significant Accounting Policies - Recently Issued and Applicable Accounting Pronouncements (Issued and Not Yet Adopted) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax effected cumulative adjustment to retained earnings	$ 635,353	$ 671,645		$ 664,247	$ 474,930
Retained Earnings
Tax effected cumulative adjustment to retained earnings	$ 16,047	$ 54,782		32,388	$ 0
Adoption of ASU No. 2016-13 (Note 2)
Tax effected cumulative adjustment to retained earnings				(118)
Adoption of ASU No. 2016-13 (Note 2) \| Retained Earnings
Tax effected cumulative adjustment to retained earnings			$ 100	$ (118)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2

+ Details

Derivative Financial Instruments - Volume of derivative activities (Details)	Dec. 31, 2024 bbl Mcf $ / bbl $ / Mcf
Collars Oil Contract, 2024 Settlement \| First Quarter
Derivative instruments
Volume (bbl) \| bbl	764,903
Collars Oil Contract, 2024 Settlement \| Second Quarter
Derivative instruments
Volume (bbl) \| bbl	623,266
Collars Oil Contract, 2024 Settlement \| Third Quarter
Derivative instruments
Volume (bbl) \| bbl	522,210
Collars Oil Contract, 2024 Settlement \| Fourth Quarter
Derivative instruments
Volume (bbl) \| bbl	494,000
Collars Oil Contract, 2024 Settlement \| 2025
Derivative instruments
Volume (bbl) \| bbl	2,404,379
Collars Oil Contract, 2024 Settlement \| Weighted-average floor price \| First Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf) \| $ / bbl	61.59
Collars Oil Contract, 2024 Settlement \| Weighted-average floor price \| Second Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf) \| $ / bbl	60.27
Collars Oil Contract, 2024 Settlement \| Weighted-average floor price \| Third Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf) \| $ / bbl	61.65
Collars Oil Contract, 2024 Settlement \| Weighted-average floor price \| Fourth Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf) \| $ / bbl	60.00
Collars Oil Contract, 2024 Settlement \| Weighted-average floor price \| 2025
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf) \| $ / bbl	60.93
Collars Oil Contract, 2024 Settlement \| Weighted-average ceiling price \| First Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf) \| $ / bbl	78.52
Collars Oil Contract, 2024 Settlement \| Weighted-average ceiling price \| Second Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf) \| $ / bbl	77.82
Collars Oil Contract, 2024 Settlement \| Weighted-average ceiling price \| Third Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf) \| $ / bbl	79.43
Collars Oil Contract, 2024 Settlement \| Weighted-average ceiling price \| Fourth Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf) \| $ / bbl	77.23
Collars Oil Contract, 2024 Settlement \| Weighted-average ceiling price \| 2025
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf) \| $ / bbl	78.27
Collar Oil Contract, 2025 Total Settlement \| 2026
Derivative instruments
Volume (bbl) \| bbl	788,980
Collar Oil Contract, 2025 Total Settlement \| Weighted-average floor price \| 2026
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf) \| $ / bbl	60.00
Collar Oil Contract, 2025 Total Settlement \| Weighted-average ceiling price \| 2026
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf) \| $ / bbl	69.68
Collars Natural Gas Contract, 2024 Settlement \| First Quarter
Derivative instruments
Volume (bbl) \| Mcf	4,134,179
Collars Natural Gas Contract, 2024 Settlement \| Second Quarter
Derivative instruments
Volume (bbl) \| Mcf	1,075,438
Collars Natural Gas Contract, 2024 Settlement \| Third Quarter
Derivative instruments
Volume (bbl) \| Mcf	2,441,757
Collars Natural Gas Contract, 2024 Settlement \| Fourth Quarter
Derivative instruments
Volume (bbl) \| Mcf	2,662,615
Collars Natural Gas Contract, 2024 Settlement \| 2025
Derivative instruments
Volume (bbl) \| Mcf	10,313,989
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average floor price \| First Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf)	3.30
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average floor price \| Second Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf)	3.00
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average floor price \| Third Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf)	3.00
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average floor price \| Fourth Quarter
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf)	3.10
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average floor price \| 2025
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf)	3.14
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average ceiling price \| First Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf)	4.56
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average ceiling price \| Second Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf)	3.75
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average ceiling price \| Third Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf)	3.75
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average ceiling price \| Fourth Quarter
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf)	3.89
Collars Natural Gas Contract, 2024 Settlement \| Weighted-average ceiling price \| 2025
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf)	4.11
Collars Natural Gas Contract, 2025 Total Settlement \| 2026
Derivative instruments
Volume (bbl) \| Mcf	8,154,446
Collars Natural Gas Contract, 2025 Total Settlement \| Weighted-average floor price \| 2026
Derivative instruments
Weighted average floor price ($/Bbl, $/Mcf)	3.29
Collars Natural Gas Contract, 2025 Total Settlement \| Weighted-average ceiling price \| 2026
Derivative instruments
Weighted average ceiling price ($/Bbl, $/Mcf)	4.06
Swaps Natural Gas Contract, 2024 Settlement \| First Quarter
Derivative instruments
Volume (bbl) \| Mcf	0
Swaps Natural Gas Contract, 2024 Settlement \| Second Quarter
Derivative instruments
Volume (bbl) \| Mcf	2,548,520
Swaps Natural Gas Contract, 2024 Settlement \| Third Quarter
Derivative instruments
Volume (bbl) \| Mcf	717,450
Swaps Natural Gas Contract, 2024 Settlement \| Fourth Quarter
Derivative instruments
Volume (bbl) \| Mcf	212,350
Swaps Natural Gas Contract, 2024 Settlement \| 2025
Derivative instruments
Volume (bbl) \| Mcf	3,478,320
Swaps Natural Gas Contract, 2024 Settlement \| Weighted-average price \| First Quarter
Derivative instruments
Weighted-average price ($/Mcf)	0
Swaps Natural Gas Contract, 2024 Settlement \| Weighted-average price \| Second Quarter
Derivative instruments
Weighted-average price ($/Mcf)	3.19
Swaps Natural Gas Contract, 2024 Settlement \| Weighted-average price \| Third Quarter
Derivative instruments
Weighted-average price ($/Mcf)	3.17
Swaps Natural Gas Contract, 2024 Settlement \| Weighted-average price \| Fourth Quarter
Derivative instruments
Weighted-average price ($/Mcf)	3.16
Swaps Natural Gas Contract, 2024 Settlement \| Weighted-average price \| 2025
Derivative instruments
Weighted-average price ($/Mcf)	3.18
Swaps Natural Gas Contract, 2025 Total Settlement \| 2026
Derivative instruments
Volume (bbl) \| Mcf	1,253,400
Swaps Natural Gas Contract, 2025 Total Settlement \| Weighted-average price \| 2026
Derivative instruments
Weighted-average price ($/Mcf)	3.41

Subsequent Events - Schedule of outstanding derivative contracts (Details) - Subsequent Event	2 Months Ended
	Mar. 06, 2025 $ / bbl $ / Mcf bbl Mcf
Collar Oil Contract, 2025
Subsequent events
Volume (Bbl) \| bbl	1,027,000
Collar Oil Contract, 2025 \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	66.43
Collar Oil Contract, 2025 \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	74.59
Collar Oil Contract, 2025 \| First Quarter
Subsequent events
Volume (Bbl) \| bbl	233,000
Collar Oil Contract, 2025 \| First Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	69.84
Collar Oil Contract, 2025 \| First Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	75.70
Collar Oil Contract, 2025 \| Second Quarter
Subsequent events
Volume (Bbl) \| bbl	310,000
Collar Oil Contract, 2025 \| Second Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	67.49
Collar Oil Contract, 2025 \| Second Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	74.41
Collar Oil Contract, 2025 \| Third Quarter
Subsequent events
Volume (Bbl) \| bbl	280,000
Collar Oil Contract, 2025 \| Third Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	65.29
Collar Oil Contract, 2025 \| Third Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	74.01
Collar Oil Contract, 2025 \| Fourth Quarter
Subsequent events
Volume (Bbl) \| bbl	204,000
Collar Oil Contract, 2025 \| Fourth Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	62.47
Collar Oil Contract, 2025 \| Fourth Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	74.41
Collar Oil Contract, 2026 Total
Subsequent events
Volume (Bbl) \| bbl	1,316,000
Collar Oil Contract, 2026 Total \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	60.00
Collar Oil Contract, 2026 Total \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf) \| $ / bbl	70.90
Collar Natural Gas Contract, 2025
Subsequent events
Volume (Bbl) \| Mcf	888,000
Collar Natural Gas Contract, 2025 \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	4.10
Collar Natural Gas Contract, 2025 \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	4.98
Collar Natural Gas Contract, 2025 \| First Quarter
Subsequent events
Volume (Bbl) \| Mcf	0
Collar Natural Gas Contract, 2025 \| First Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	0
Collar Natural Gas Contract, 2025 \| First Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	0
Collar Natural Gas Contract, 2025 \| Second Quarter
Subsequent events
Volume (Bbl) \| Mcf	0
Collar Natural Gas Contract, 2025 \| Second Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	0
Collar Natural Gas Contract, 2025 \| Second Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	0
Collar Natural Gas Contract, 2025 \| Third Quarter
Subsequent events
Volume (Bbl) \| Mcf	0
Collar Natural Gas Contract, 2025 \| Third Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	0
Collar Natural Gas Contract, 2025 \| Third Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	0
Collar Natural Gas Contract, 2025 \| Fourth Quarter
Subsequent events
Volume (Bbl) \| Mcf	888,000
Collar Natural Gas Contract, 2025 \| Fourth Quarter \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	4.10
Collar Natural Gas Contract, 2025 \| Fourth Quarter \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	4.98
Collar Natural Gas Contract, 2026 Total
Subsequent events
Volume (Bbl) \| Mcf	1,752,000
Collar Natural Gas Contract, 2026 Total \| Weighted-average floor price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	4.06
Collar Natural Gas Contract, 2026 Total \| Weighted-average ceiling price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	4.89
Swaps Natural Gas Contract, 2025
Subsequent events
Volume (Bbl) \| Mcf	5,146,000
Swaps Natural Gas Contract, 2025 \| Weighted-average price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	3.79
Swaps Natural Gas Contract, 2025 \| First Quarter
Subsequent events
Volume (Bbl) \| Mcf	1,234,000
Swaps Natural Gas Contract, 2025 \| First Quarter \| Weighted-average price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	3.78
Swaps Natural Gas Contract, 2025 \| Second Quarter
Subsequent events
Volume (Bbl) \| Mcf	1,843,000
Swaps Natural Gas Contract, 2025 \| Second Quarter \| Weighted-average price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	3.79
Swaps Natural Gas Contract, 2025 \| Third Quarter
Subsequent events
Volume (Bbl) \| Mcf	1,571,000
Swaps Natural Gas Contract, 2025 \| Third Quarter \| Weighted-average price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	3.79
Swaps Natural Gas Contract, 2025 \| Fourth Quarter
Subsequent events
Volume (Bbl) \| Mcf	498,000
Swaps Natural Gas Contract, 2025 \| Fourth Quarter \| Weighted-average price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	3.79
Swaps Natural Gas Contract, 2026 Total
Subsequent events
Volume (Bbl) \| Mcf	2,388,000
Swaps Natural Gas Contract, 2026 Total \| Weighted-average price
Subsequent events
Weighted-average price ( $/Bbl, $/Mcf)	3.76