Nature of operations and summary of significant accounting policies and going concern (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Components of accounts receivable

	March 31, 2020			December 31, 2019
Joint interests	$	16,362		$	16,664
Commodity sales	19,818			30,819
Derivative settlements	8,009			717
Other	1,896			2,544
Allowance for doubtful accounts	(2,768		)	(1,097		)
	$	43,317		$	49,647

Accounts Receivable, Allowance for Credit Loss

The table below segregates our joint interest receivables based on the amount of revenues payable which can be utilized to offset the receivable balance. We consider this segregation to be a reasonable indicator of credit quality.

Joint interest receivables, gross	March 31, 2020
Accounts which have sufficient related revenue distributions payable to offset entire receivable balance	$	1,895
Accounts which have related revenue distributions payable but not sufficient to offset entire receivable balance	10,286
Accounts without related revenue distributions payable	4,181
Total	$	16,362

Allowance for credit losses. The table below discloses activity on our receivables allowance account:

	Three months ended March 31, 2020
	Commodity sales		Joint interest		Derivatives		Other		Total
Balance at January 1, 2020	$	—	$	1,097	$	—	$	—	$	1,097
Cumulative effect of accounting standard adoption	154		—		—		—		154
Credit losses	44		1,473		—		—		1,517
Write-offs	—		—		—		—		—
Recoveries	—		—		—		—		—
Balance at March 31, 2020	$	198	$	2,570	$	—	$	—	$	2,768

Our credit loss expense is included as a component of “General and administrative expenses” on our consolidated statement of operations and is as follows:

	Three months ended March 31,
	2020		2019
Credit losses on receivables	$	1,517	$	(258	)

Components of inventories

Inventories consisted of the following:

	March 31, 2020			December 31, 2019
Equipment inventory	$	2,730		$	3,435
Commodities	444			474
Inventory valuation allowance	(332		)	(179		)
	$	2,842		$	3,730

Summary of property and equipment, net

Major classes of property and equipment are shown in the following:

	March 31, 2020		December 31, 2019
Machinery and equipment	$	3,477	$	3,543
Office and computer equipment	3,556		3,363
Automobiles and trucks	2,678		3,071
Building and improvements	664		693
Furniture and fixtures	8		8
	10,383		10,678
Less accumulated depreciation, amortization and impairment	3,716		3,459
	6,667		7,219
Land	1,936		1,998
	$	8,603	$	9,217

Schedule of assets held for sale

Our held for sale assets:

	Carrying value at
	March 31, 2020		December 31,  2019
Equipment	$	—	$	1,572
Vehicles	164		488
Real estate	—		800
Total held for sale	$	164	$	2,860

Components of unevaluated oil and natural gas properties

The costs of unevaluated oil and natural gas properties consisted of the following:

	March 31, 2020		December 31, 2019
Leasehold acreage	$	332,226	$	334,083
Capitalized interest	17,617		16,785
Wells and facilities in progress of completion	4,704		20,361
Total unevaluated oil and natural gas properties excluded from amortization	$	354,547	$	371,229

Summary of disaggregation of revenue

he following table displays the revenue disaggregated and reconciles the disaggregated revenue to the revenue reported:

	Three months ended March 31,
	2020			2019
Revenues:
Oil	$	37,026		$	32,802
Natural gas	8,655			11,206
Natural gas liquids	9,682			9,217
Gross commodity sales	55,363			53,225
Transportation and processing	(6,512		)	(4,606		)
Net commodity sales	$	48,851		$	48,619