Quarterly report pursuant to Section 13 or 15(d)

SUBSIDIARY BORROWERS (Tables)

v3.24.2.u1
SUBSIDIARY BORROWERS (Tables)
6 Months Ended
Jun. 30, 2024
SUBSIDIARY BORROWERS  
Schedule of Consolidation of Subsidiary Borrowers

The following table presents the amounts recorded by the Company on the Condensed Consolidated Balance Sheets related to the consolidation of Aquasition Energy LLC, the parent of the Subsidiary Borrowers (the “Subsidiary Parent”), and the Subsidiary Borrowers (in thousands):

June 30, 

December 31, 

2024

2023

Assets:

 

  

 

  

Cash and cash equivalents

$

4,453

$

600

Receivables:

 

  

 

  

Oil and natural gas sales

 

11,630

 

19,171

Joint interest, net

 

(21,319)

 

(33,151)

Prepaid expenses and other current assets

 

834

 

612

Oil and natural gas properties and other, net

 

285,393

 

287,313

Other assets

 

5,689

 

8,097

Liabilities:

 

  

 

  

Accounts payable

2,979

4,473

Accrued liabilities

 

9,830

 

7,152

Undistributed oil and natural gas proceeds

 

5,747

 

4,359

Current portion of long-term debt, net

14,400

28,872

Asset retirement obligations

 

70,914

 

67,771

Long-term debt, net

 

97,260

 

82,317

Other liabilities

 

4,261

 

6,749

Schedule of Subsidiary Borrowers and the subsidiary that owns the equity

The following table presents the amounts recorded by the Company in the Condensed Consolidated Statements of Operations related to the consolidation of the operations of the Subsidiary Borrowers and the Subsidiary Parent (in thousands):

Three Months Ended June 30, 

Six Months Ended June 30, 

2024

2023

2024

2023

Total revenues

$

20,698

$

25,437

$

40,966

$

46,560

Total operating expenses

 

20,386

 

30,443

 

39,260

 

50,490

Interest expense, net

 

2,209

 

3,229

 

4,451

 

5,411

Derivative loss (gain), net

 

2,446

 

(6,012)

 

(3,129)

 

(52,389)