Note 12 - Income Taxes (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

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

	Three Months Ended March 31, 2021
Current tax expense	$	-
Deferred tax expense		1,115
Income tax expense	$	1,115

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Three Months Ended March 31, 2021
Income tax expense at U.S. federal statutory rate	$	1,230
Limited tax benefit due to stock-based compensation		(109	)
Other		(6	)
Income tax expense	$	1,115
Effective income tax rate	19.0		%

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

	March 31, 2021			December 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$	15,300		$	9,725
Stock-based compensation		3,234			3,124
Other		31			31
Less: Valuation allowance		-			-
Net deferred tax assets		18,565			12,880
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		(58,578	)		(51,778	)
Net deferred tax liabilities	$	(40,013	)	$	(38,898	)