| 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):
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
2024 |
|
2023 |
Assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
3,671 |
|
$ |
600 |
Receivables: |
|
|
|
|
|
|
Oil and natural gas sales |
|
|
7,594 |
|
|
19,171 |
Joint interest, net |
|
|
(12,280) |
|
|
(33,151) |
Prepaid expenses and other current assets |
|
|
1,401 |
|
|
612 |
Oil and natural gas properties and other, net |
|
|
291,741 |
|
|
287,313 |
Other assets |
|
|
5,173 |
|
|
8,097 |
Liabilities: |
|
|
|
|
|
|
Accounts payable |
|
|
2,498 |
|
|
4,473 |
Accrued liabilities |
|
|
6,945 |
|
|
7,152 |
Undistributed oil and natural gas proceeds |
|
|
7,085 |
|
|
4,359 |
Current portion of asset retirement obligations |
|
|
8,069 |
|
|
44 |
Current portion of long-term debt, net |
|
|
20,429 |
|
|
28,872 |
Asset retirement obligations |
|
|
72,336 |
|
|
67,771 |
Long-term debt, net |
|
|
91,467 |
|
|
82,317 |
Other liabilities |
|
|
4,401 |
|
|
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 |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Total revenues |
|
$ |
19,300 |
|
$ |
28,865 |
|
$ |
60,265 |
|
$ |
75,425 |
Total operating expenses |
|
|
18,122 |
|
|
18,807 |
|
|
57,381 |
|
|
69,297 |
Interest expense, net |
|
|
2,225 |
|
|
2,536 |
|
|
6,676 |
|
|
7,947 |
Derivative gain, net |
|
|
(3,828) |
|
|
(2,652) |
|
|
(6,957) |
|
|
(55,041) |
|