Note 12 - Income Taxes (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Notes Tables

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

	Six Months Ended June 30, 2021
Current tax expense	$	-
Deferred tax expense		2,535
Income tax expense	$	2,535

	August 22, 2020 through December 31, 2020
Current tax benefit	$	(3,176	)
Deferred tax benefit		(1,047	)
Income tax benefit	$	(4,223	)

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

	Six Months Ended June 30, 2021
Income tax expense at U.S. federal statutory rate	$	2,735
Limited tax benefit due to stock-based compensation		(81	)
Other		(119	)
Income tax expense	$	2,535
Effective income tax rate		19.5	%

	August 22, 2020 through December 31, 2020
Income tax expense (benefit) at U.S. federal statutory rate	$	(4,337	)
Limited tax benefit due to stock-based compensation		127
Other		(13	)
Income tax expense (benefit)	$	(4,223	)
Effective income tax rate		20.4	%

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

	June 30, 2021			December 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$	16,770		$	9,725
Stock-based compensation		3,419			3,124
Unrecognized derivative losses		2,637			-
Other		107			31
Less: Valuation allowance		-			-
Net deferred tax assets		22,933			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		(64,365	)		(51,778	)
Net deferred tax liabilities	$	(41,432	)	$	(38,898	)

	December 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$	9,725
Stock-based compensation		3,124
Other		31
Less: Valuation allowance		-
Net deferred tax assets		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		(51,778	)
Net deferred tax liabilities	$	(38,898	)