Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Components of Income Tax Expense (Benefit)



	Years Ended December 31,
(In thousands)	2019		2018			2017
State Income Tax
Current (benefit)/expense	$	692	$	(23	)	$	713
Deferred (benefit)/expense	63		(138		)	295
Federal Income Tax
Current expense	1,322		114			—
Deferred expense	602		374			—
Totals:	$	2,679	$	327		$	1,008

Total current income taxes	$	2,014	$	91		$	713
Total deferred income taxes	665		236			295
Totals:	$	2,679	$	327		$	1,008

Schedule of Income before Income Tax, Domestic and Foreign

The following table reconciles the income tax provision with income tax expense at the federal statutory rate for the periods indicated:



	Years Ended December 31,
(In thousands)	2019			2018			2017
Income before income taxes	$	24,318		$	33,142		$	116,620
Less: income before income taxes attributable to predecessor	(5,118		)	(30,805		)	(116,620		)
Less: income before income taxes attributable to temporary equity	(9,858		)	—			—
Income before income taxes attributable to shareholders	$	9,342		$	2,337		$	—

Income tax at the federal statutory rate	$	1,962		$	491		$	—
State income taxes, net of federal benefit	717			(150		)	1,008
Percentage depletion in excess of basis	—			(14		)	—
Total income tax provision	$	2,679		$	327		$	1,008

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities were are follows:



	Years Ended December 31,
(In thousands)	2019			2018
Deferred tax assets:
Investment in subsidiary	$	19,021		$	—
Total deferred tax assets:	$	19,021		$	—

Deferred tax liabilities:
Oil and gas properties	(198		)	(208		)
Investment in subsidiary	—			(3,476		)
Total deferred tax liabilities	$	(198	)	$	(3,684	)