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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
ASSETS      
Cash $ 3,363,372 $ 3,505,454 $ 2,016,315
Accounts receivable
Crude oil and natural gas 2,213,565 2,103,341 2,862,945
Other 3,924 90,163 201,669
Short-term derivative instrument asset 391,488
Prepaid expenses and other current assets 662,244 722,002 395,204
Total current assets 6,243,105 6,812,448 5,476,133
Crude oil and natural gas properties, successful efforts method:      
Proved properties 94,834,573 94,189,372 64,799,213
Accumulated depreciation, depletion, amortization and impairment (828,201) (352,127) (9,592,296)
Total oil and natural gas properties, net 94,006,372 93,837,245 55,206,917
Other property, plant and equipment, net 20,000 83,004
Operating lease assets, net of accumulated depreciation   126,678
Other noncurrent assets   6,668
Long-term derivative instrument asset 76,199
Total assets 100,269,477 100,725,892 64,708,403
Current liabilities      
Accounts payable 5,807,031 4,795,208 1,218,054
Accrued liabilities and other 5,707,787 4,422,183 1,128,671
Revenue and royalties payable 1,022,165 461,773 617,163
Deferred underwriting fee payable 1,250,000 1,300,000
Short-term derivative instrument liabilities 1,003,764 1,191,354
Related party notes payable, net of discount 3,122,292 2,359,048
Current portion of operating lease liabilities   70,232
Current portion of long-term debt 9,413,202 4,157,602
Forward purchase agreement liability 1,443,286 1,094,097
Total current liabilities 30,507,059 20,113,049 4,225,474
Long-term debt, net of current portion and discount 31,385,711 37,486,206 26,750,000
Warrant liability 5,625,934 4,777,971
Deferred tax liability 4,731,204 6,163,140
Operating lease liabilities   58,921
Asset retirement obligations 937,302 904,297 4,494,761
Long-term derivative instrument liability 388,642  
Other liabilities 675,000 675,000 675,000
Total for non-current liabilities 43,743,793 50,006,614 31,978,682
Total liabilities 74,250,852 70,119,663 36,204,156
Commitments and Contingencies (Note 6)  
Stockholders’ equity      
Preferred stock value
Additional paid-in capital 17,017,104 16,317,856
Owners’ equity   28,504,247
Accumulated deficit (24,405,597) (19,118,745)
Total stockholders’ (deficit) equity attributable to HNR Acquisition Corp. (7,387,789) (2,800,185) 28,504,247
Noncontrolling interest 33,406,414 33,406,414
Total stockholders’ equity 26,018,625 30,606,229 28,504,247
Total liabilities and stockholders’ equity 100,269,477 100,725,892 64,708,403
Related Party      
Crude oil and natural gas properties, successful efforts method:      
Note and interest receivable – related party   3,809,003
Current liabilities      
Revenue and royalties payable – related parties 1,737,532 1,523,138
Class A Common Stock      
Stockholders’ equity      
Common stock value 524 524
Class B Common Stock      
Stockholders’ equity      
Common stock value $ 180 $ 180