Note 12 - Income Taxes (Tables)

3 Months Ended

Mar. 31, 2025

Notes Tables

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

	Three Months Ended March 31,
	2025		2024
Provision for current income taxes:
Federal	$	—	$	386
State		—		223
Total provision for current income taxes		—		609
Provision for deferred income taxes:
Federal		9,572		1,465
State		367		223
Total provision for deferred income taxes		9,939		1,688
Total provision for income taxes	$	9,939	$	2,297

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

	Three Months Ended March 31,
	2025			2024
Provision for income taxes at U.S. federal statutory rate	$	9,718		$	1,834
State deferred income taxes		367			399
Limited tax benefit (expense) due to stock-based compensation		(112	)		377
Other, net		(34	)		(313	)
Provision for income taxes	$	9,939		$	2,297
Effective income tax rate		21.5	%		26.3	%

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

	March 31, 2025			December 31, 2024
Deferred tax assets:
Interest expense limitations	$	80,163		$	73,013
Net operating loss carryforwards		16,030			13,089
Stock-based compensation		3,388			3,351
Unrecognized derivative losses, net		573			—
Other		79			35
Less: Valuation allowance		—			—
Deferred tax assets		100,233			89,488
Deferred tax liabilities:
Crude oil and natural gas properties, principally due to differences in basis and depreciation and the deduction of intangible drilling costs for tax purposes		(342,570	)		(321,411	)
Unrecognized derivative gains, net		—			(475	)
Deferred tax liabilities		(342,570	)		(321,886	)
Net deferred tax liabilities	$	(242,337	)	$	(232,398	)