Note 12 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	August 22, 2020 through September 30, 2020
Current tax benefit	$	(2,306	)
Deferred tax benefit		(3	)
Income tax benefit	$	(2,309	)
Effective income tax rate		16.7	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	September 30, 2020
Deferred tax assets:
Stock-based compensation	$	2,951
Less: Valuation allowance		-
Net deferred tax assets		2,951
Deferred tax liabilities:
Oil and natural gas properties, principally due to differences in basis and depreciation and the deduction of intangible drilling costs for tax purposes		(43,447	)
Net deferred tax liabilities	$	(40,496	)