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Condensed Consolidated and Combined Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating Revenues:        
Operating revenues $ 48,270,000 $ 944,000 $ 73,987,000 $ 5,567,000
Operating Costs and Expenses:        
Oil and natural gas production 4,692,000 1,814,000 6,919,000 4,203,000
Production and ad valorem taxes 2,543,000 94,000 4,207,000 402,000
Exploration and abandonments 463,000 1,000 654,000 4,000
Depletion, depreciation and amortization 16,857,000 1,735,000 29,820,000 5,091,000
Accretion of discount on asset retirement obligations 37,000 35,000 72,000 69,000
General and administrative 1,617,000 1,412,000 3,376,000 4,273,000
Stock-based compensation 1,023,000 0 1,989,000 0
Total operating costs and expenses 27,232,000 5,091,000 47,037,000 14,042,000
Income (loss) from operations 21,038,000 (4,147,000) 26,950,000 (8,475,000)
Interest income 0 0 1,000 0
Interest expense (152,000) 0 (206,000) 0
Derivative loss, net (13,596,000) 0 (13,596,000) 0
Other expense (127,000) 0 (127,000) (76,503,000)
Income (loss) before income taxes 7,163,000 (4,147,000) 13,022,000 (84,978,000)
Income tax expense 1,420,000 0 2,535,000 0
Net income (loss) $ 5,743,000 $ (4,147,000) $ 10,487,000 $ (84,978,000)
Earnings per share:        
Basic net income (in dollars per share) $ 0.06 $ 0.11
Diluted net income (in dollars per share) $ 0.06 $ 0.10
Weighted average shares outstanding:        
Basic (in shares) 92,676 92,634
Diluted (in shares) 92,676 92,830
Crude Oil Sales [Member]        
Operating Revenues:        
Operating revenues $ 46,985,000 $ 938,000 $ 71,855,000 $ 5,462,000
Natural Gas and NGL Sales [Member]        
Operating Revenues:        
Operating revenues $ 1,285,000 $ 6,000 $ 2,132,000 $ 105,000