CRUDE OIL AND NATURAL GAS PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2020

Asset Acquisition [Line Items]

Pro forma information

The summarized unaudited pro forma information may not be indicative of the results that would have occurred had the Company completed the acquisition as of January 1, 2019, or that would be attained in the future.

	Nine Months Ended
(In thousands)	September 30, 2019
Revenues	$	441,716
Net Income	11,564

VEN Bakken LLC

Asset Acquisition [Line Items]

Preliminary estimate of the fair values of the assets and liabilities

The following table reflects the fair values of the net assets and liabilities as of the date of acquisition:

	(In thousands)
Fair value of net assets:
Proved oil and natural gas properties	$	324,974
Asset retirement cost	2,680
Total assets acquired	327,654
Asset retirement obligations	(2,680)
Derivative instruments	(9,694)
Net assets acquired	$	315,280
Fair value of consideration paid for net assets:
Cash consideration	$	174,912
Issuance of common stock	11,708
Unsecured VEN Bakken Note	128,660
Total fair value of consideration transferred	$	315,280