Note 15 - Goodwill	9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Goodwill Disclosure [Text Block]	*Note 15.* Goodwill** Goodwill represents the excess of the purchase price of assets acquired over the fair value of those assets. The fair value of Goodwill is classified as a Level 3 measurement according to the fair value hierarchy defined by ASC 820. Goodwill is tested for impairment annually, or more frequently if events or changes in circumstances dictate that the carrying value of goodwill may not be recoverable. Such test includes an assessment of qualitative and quantitative factors. If the results of such tests are such that the fair value of the reporting unit is less than the carrying value, goodwill is then reduced by an amount that is equal to the amount by which the carrying value exceeds the fair value. A discounted future cash flow analysis of the properties to which the Goodwill was associated was performed based on commodity price futures as of March 31, 2020. The resulting fair value was lower than the net book value of the associated properties. Additionally, the Company’s enterprise value, calculated as the combined market capitalization of the Company’s equity and long-term debt, was lower than the book value of its assets, without allocating between the Company's two major properties, Midland properties and Eagle Ford properties. Accordingly, the entire $17.6 million balance of Goodwill was impaired on that date. No additional impairments have been recorded to Goodwill through September 30, 2020. The Company did not have any non-cash impairment charges to Goodwill for the three and nine months ended September 30, 2019. Accumulated impairments to Goodwill as of September 30, 2020 and December 31, 2019 were $36.7 million and $19.1 million, respectively.

Note 15 - Goodwill

9 Months Ended

Sep. 30, 2020

Note 15. Goodwill

Goodwill represents the excess of the purchase price of assets acquired over the fair value of those assets. The fair value of Goodwill is classified as a Level 3 measurement according to the fair value hierarchy defined by ASC 820. Goodwill is tested for impairment annually, or more frequently if events or changes in circumstances dictate that the carrying value of goodwill may not be recoverable. Such test includes an assessment of qualitative and quantitative factors. If the results of such tests are such that the fair value of the reporting unit is less than the carrying value, goodwill is then reduced by an amount that is equal to the amount by which the carrying value exceeds the fair value.

A discounted future cash flow analysis of the properties to which the Goodwill was associated was performed based on commodity price futures as of March 31, 2020. The resulting fair value was lower than the net book value of the associated properties. Additionally, the Company’s enterprise value, calculated as the combined market capitalization of the Company’s equity and long-term debt, was lower than the book value of its assets, without allocating between the Company's two major properties, Midland properties and Eagle Ford properties. Accordingly, the entire $17.6 million balance of Goodwill was impaired on that date. No additional impairments have been recorded to Goodwill through September 30, 2020. The Company did not have any non-cash impairment charges to Goodwill for the three and nine months ended September 30, 2019.

Accumulated impairments to Goodwill as of September 30, 2020 and December 31, 2019 were $36.7 million and $19.1 million, respectively.