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Note 10 - Related Party Transactions - Construction of Beginning Balance of the Company (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Aug. 22, 2020
Aug. 21, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash and cash equivalents $ 19,552 $ 86,483   $ 22,711  
Cash and cash equivalents (19,552) (86,483)   (22,711)  
Accounts Receivable, after Allowance for Credit Loss, Current, Total 7,722 3,027   3,363  
Accounts receivable (7,722) (3,027)   (3,363)  
Total current assets 33,295 89,510   92,026  
Total current assets (33,295) (89,510)   (92,026)  
Total oil and gas properties, net 502,636 452,039   404,794  
Total oil and gas properties, net (502,636) (452,039)   (404,794)  
Other property and equipment, net 1,092 436   1,088  
Other property and equipment, net (1,092) (436)   (1,088)  
Total assets 537,930 541,985   497,908  
Total assets (537,930) (541,985)   (497,908)  
Current liabilities 22,435 28,358   30,980  
Current liabilities (22,435) (28,358)   (30,980)  
Deferred income tax liability 38,898 39,946    
Deferred income tax liability (38,898) (39,946)    
Notes payable (receivable)        
Notes payable (receivable)        
Asset retirement obligations 2,293 2,398   2,212  
Asset retirement obligations (2,293) (2,398)   (2,212)  
Partners' capital   $ 430,902 464,716 $ 84,057
Partners' capital   (430,902) (464,716) $ (84,057)
Common stock 9 9    
Common stock (9) (9)    
Additional Paid in Capital, Ending Balance 581,426 562,054    
Additional paid-in capital (581,426) (562,054)    
Retained Earnings (Accumulated Deficit), Ending Balance (107,209) (90,780)   (5,746)  
Accumulated deficit 107,209 90,780   5,746  
Total stockholders' equity/partner's capital 474,226 471,283    
Total stockholders' equity/partner's capital (474,226) (471,283)    
Total liabilities and stockholders' equity/partners' capital 537,930 541,985   497,908  
Total liabilities and stockholders' equity/partners' capital $ (537,930) $ (541,985)   $ (497,908)  
High Peak Business Combination [Member] | Issuance of HighPeak Energy Common Stock [Member]          
Cash and cash equivalents [1]     92,554    
Cash and cash equivalents [1]     (92,554)    
Accounts Receivable, after Allowance for Credit Loss, Current, Total [1]        
Accounts receivable [1]        
Total current assets [1]     92,554    
Total current assets [1]     (92,554)    
Total oil and gas properties, net [1]        
Total oil and gas properties, net [1]        
Other property and equipment, net [1]        
Other property and equipment, net [1]        
Total assets [1]     92,554    
Total assets [1]     (92,554)    
Current liabilities [1]     9,538    
Current liabilities [1]     (9,538)    
Deferred income tax liability [1]        
Deferred income tax liability [1]        
Notes payable (receivable) [1]        
Notes payable (receivable) [1]        
Asset retirement obligations [1]        
Asset retirement obligations [1]        
Partners' capital [1]     (521,682)    
Partners' capital [1]     521,682    
Common stock [1]     9    
Common stock [1]     (9)    
Additional Paid in Capital, Ending Balance [1]     623,765    
Additional paid-in capital [1]     (623,765)    
Retained Earnings (Accumulated Deficit), Ending Balance [1]        
Accumulated deficit [1]        
Total stockholders' equity/partner's capital [1]     102,092    
Total stockholders' equity/partner's capital [1]     (102,092)    
Total liabilities and stockholders' equity/partners' capital [1]     92,554    
Total liabilities and stockholders' equity/partners' capital [1]     (92,554)    
High Peak Business Combination [Member] | Offering Costs [Member]          
Cash and cash equivalents [2]     8,114    
Cash and cash equivalents [2]     (8,114)    
Accounts Receivable, after Allowance for Credit Loss, Current, Total [2]        
Accounts receivable [2]        
Total current assets [2]     8,114    
Total current assets [2]     (8,114)    
Total oil and gas properties, net [2]        
Total oil and gas properties, net [2]        
Other property and equipment, net [2]        
Other property and equipment, net [2]        
Total assets [2]     8,114    
Total assets [2]     (8,114)    
Current liabilities [2]        
Current liabilities [2]        
Deferred income tax liability [2]        
Deferred income tax liability [2]        
Notes payable (receivable) [2]        
Notes payable (receivable) [2]        
Asset retirement obligations [2]        
Asset retirement obligations [2]        
Partners' capital [2]        
Partners' capital [2]        
Common stock [2]        
Common stock [2]        
Additional Paid in Capital, Ending Balance [2]     8,114    
Additional paid-in capital [2]     (8,114)    
Retained Earnings (Accumulated Deficit), Ending Balance [2]        
Accumulated deficit [2]        
Total stockholders' equity/partner's capital [2]     8,114    
Total stockholders' equity/partner's capital [2]     (8,114)    
Total liabilities and stockholders' equity/partners' capital [2]     8,114    
Total liabilities and stockholders' equity/partners' capital [2]     (8,114)    
High Peak Business Combination [Member] | Deferred Tax Liability [Member]          
Cash and cash equivalents [3]        
Cash and cash equivalents [3]        
Accounts Receivable, after Allowance for Credit Loss, Current, Total [3]        
Accounts receivable [3]        
Total current assets [3]        
Total current assets [3]        
Total oil and gas properties, net [3]        
Total oil and gas properties, net [3]        
Other property and equipment, net [3]        
Other property and equipment, net [3]        
Total assets [3]        
Total assets [3]        
Current liabilities [3]        
Current liabilities [3]        
Deferred income tax liability [3]     39,946    
Deferred income tax liability [3]     (39,946)    
Notes payable (receivable) [3]        
Notes payable (receivable) [3]        
Asset retirement obligations [3]        
Asset retirement obligations [3]        
Partners' capital [3]        
Partners' capital [3]        
Common stock [3]        
Common stock [3]        
Additional Paid in Capital, Ending Balance [3]     (39,946)    
Additional paid-in capital [3]     39,946    
Retained Earnings (Accumulated Deficit), Ending Balance [3]        
Accumulated deficit [3]        
Total stockholders' equity/partner's capital [3]     (39,946)    
Total stockholders' equity/partner's capital [3]     39,946    
Total liabilities and stockholders' equity/partners' capital [3]        
Total liabilities and stockholders' equity/partners' capital [3]        
HPK, LP [Member]          
Cash and cash equivalents [4]     1,943    
Cash and cash equivalents [4]     (1,943)    
Accounts Receivable, after Allowance for Credit Loss, Current, Total [4]     3,001    
Accounts receivable [4]     (3,001)    
Total current assets [4]     4,944    
Total current assets [4]     (4,944)    
Total oil and gas properties, net [4]     452,039    
Total oil and gas properties, net [4]     (452,039)    
Other property and equipment, net [4]     436    
Other property and equipment, net [4]     (436)    
Total assets [4]     457,419    
Total assets [4]     (457,419)    
Current liabilities [4]     35,794    
Current liabilities [4]     (35,794)    
Deferred income tax liability [4]        
Deferred income tax liability [4]        
Notes payable (receivable) [4]     (11,675)    
Notes payable (receivable) [4]     11,675    
Asset retirement obligations [4]     2,398    
Asset retirement obligations [4]     (2,398)    
Partners' capital [4]     521,682    
Partners' capital [4]     (521,682)    
Common stock [4]        
Common stock [4]        
Additional Paid in Capital, Ending Balance [4]        
Additional paid-in capital [4]        
Retained Earnings (Accumulated Deficit), Ending Balance [4]     (90,780)    
Accumulated deficit [4]     90,780    
Total stockholders' equity/partner's capital [4]     430,902    
Total stockholders' equity/partner's capital [4]     (430,902)    
Total liabilities and stockholders' equity/partners' capital [4]     457,419    
Total liabilities and stockholders' equity/partners' capital [4]     (457,419)    
Pure [Member]          
Cash and cash equivalents [5]     1    
Cash and cash equivalents [5]     (1)    
Accounts Receivable, after Allowance for Credit Loss, Current, Total [5]        
Accounts receivable [5]        
Total current assets [5]     1    
Total current assets [5]     (1)    
Total oil and gas properties, net [5]        
Total oil and gas properties, net [5]        
Other property and equipment, net [5]        
Other property and equipment, net [5]        
Total assets [5]     1    
Total assets [5]     (1)    
Current liabilities [5]     2,025    
Current liabilities [5]     (2,025)    
Deferred income tax liability [5]        
Deferred income tax liability [5]        
Notes payable (receivable) [5]     11,675    
Notes payable (receivable) [5]     (11,675)    
Asset retirement obligations [5]        
Asset retirement obligations [5]        
Partners' capital [5]        
Partners' capital [5]        
Common stock [5]        
Common stock [5]        
Additional Paid in Capital, Ending Balance     (13,699)    
Additional paid-in capital     13,699    
Retained Earnings (Accumulated Deficit), Ending Balance [5]        
Accumulated deficit [5]        
Total stockholders' equity/partner's capital [5]     (13,699)    
Total stockholders' equity/partner's capital [5]     13,699    
Total liabilities and stockholders' equity/partners' capital [5]     1    
Total liabilities and stockholders' equity/partners' capital [5]     (1)    
HighPeak Energy Employees, Inc [Member]          
Cash and cash equivalents [6]     99    
Cash and cash equivalents [6]     (99)    
Accounts Receivable, after Allowance for Credit Loss, Current, Total [6]     26    
Accounts receivable [6]     (26)    
Total current assets [6]     125    
Total current assets [6]     (125)    
Total oil and gas properties, net [6]        
Total oil and gas properties, net [6]        
Other property and equipment, net [6]        
Other property and equipment, net [6]        
Total assets [6]     125    
Total assets [6]     (125)    
Current liabilities [6]     77    
Current liabilities [6]     (77)    
Deferred income tax liability [6]        
Deferred income tax liability [6]        
Notes payable (receivable) [6]        
Notes payable (receivable) [6]        
Asset retirement obligations [6]        
Asset retirement obligations [6]        
Partners' capital [6]        
Partners' capital [6]        
Common stock [6]        
Common stock [6]        
Additional Paid in Capital, Ending Balance [6]     48    
Additional paid-in capital [6]     (48)    
Retained Earnings (Accumulated Deficit), Ending Balance [6]        
Accumulated deficit [6]        
Total stockholders' equity/partner's capital [6]     48    
Total stockholders' equity/partner's capital [6]     (48)    
Total liabilities and stockholders' equity/partners' capital [6]     125    
Total liabilities and stockholders' equity/partners' capital [6]     $ (125)    
[1] Represents the issuance by the Company of 91,592,354 shares of common stock, 10,538,183 warrants and 10,209,300 Contingent Value Rights upon the closing of the HighPeak business combination. The reduction to accounts payable of $9.5 million represents those vendors of HPK LP that purchased shares under the Forward Purchase Agreement Amendment in the HighPeak business combination in lieu of being paid cash for the majority of their outstanding balances.
[2] Represents the cash costs paid for the offering of the aforementioned shares in addition to the cash costs that had previously been incurred by Pure of $13.7 million in column (b).
[3] Represents the beginning deferred tax liability of the Company given the combination of all the entities, most of which originated from HPK LP which was a partnership for U.S. federal income tax purposes and therefore did not record a deferred tax liability.
[4] Represents HPK LP's condensed consolidated balance sheet estimated as of August 21, 2020.
[5] Represents Pure's condensed consolidated balance sheet estimated as of August 21, 2020 after taking into account: (i) the closing of its trust account, (ii) the redemption of Pure's Class A Common Stock by the former public stockholders of Pure that elected to redeem, (iii) paying out the cash consideration to those former public stockholders of Pure who elected to remain and (iv) the conversion of the remaining shares of Pure's Class A Common Stock to HighPeak Energy common stock upon the closing of the HighPeak business combination. The $13.7 million reduction to equity is considered noncash offering costs on the condensed consolidated statement of changes in stockholders' equity.
[6] Represents the balance sheet of HighPeak Energy Employees, Inc which was acquired by the Company for $10.00 upon the closing of the HighPeak business combination.