Note 18 - Supplemental Crude Oil and Natural Gas Disclosures (Unaudited) - Changes in Standardized Measure of Discounted Future (Details) - USD ($)		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Standardized measure of discounted future net cash flows, beginning of year	[1]	$ 222,192,000	$ 140,032,000
Sales of crude oil and natural gas, net of production costs		(184,325)	(15,648)	[1]
Extensions and discoveries, net of future development costs		987,689,000	172,478,000	[1]
Net changes in prices and production costs		272,889,000	(50,728,000)	[1]
Changes in estimated future development costs		(13,551,000)	6,466,000	[1]
Purchases of minerals-in-place		31,353,000	600,000	[1]
Sales of minerals-in-place		(3,067)	0	[1]
Revisions of previous quantity estimates		(40,466,000)	(41,646,000)	[1]
Accretion of discount		23,419,000	14,134,000	[1]
Net changes in income taxes (1)	[2]	(212,574,000)	(10,675,000)	[1]
Net changes in timing of production and other		35,250,000	7,190,000	[1]
Standardized measure of discounted future net cash flows, end of year		$ 1,118,809,000	$ 222,192,000	[1]

[1] The year ended December 31, 2020 in the table above reflects the change in standardized measure from that of HPK LP, our Predecessor, as of December 31, 2019 to that of the Company as of December 31, 2020 and amounts are combined for the period from January 1, 2020 to August 21, 2020 of HPK LP and from August 22, 2020 to December 31, 2020 of the Company. There was no third-party reserve report prepared as of August 21, 2020 from which to compute a standardized measure from as of that date. We believe the table above accurately reflects the change in standardized measure for the Predecessor and Successor in a meaningful context.

[2] Effective with the HighPeak business combination that closed on August 21, 2020, the crude oil and natural gas properties became owned by HighPeak Energy, which is treated as a corporation for U.S. federal income tax purposes. As such, the “Net change in income taxes” in the table above for the year ended December 31, 2020 reflects the change in tax status applicable to the operations of the crude oil and natural gas properties. Prior to the HighPeak business combination, the Predecessor was treated as a partnership for U.S. federal income tax purposes. Accordingly, federal taxable income and losses relating to the operation of the crude oil and natural gas properties were reported on the income tax returns of the Predecessor’s partners. The Predecessor was subject to margin / franchise taxes in Texas, which is reflected as “Net change in income taxes” in the table above.