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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of Subsequent Events [Table Text Block]
Subsequent Events. We have evaluated subsequent events requiring potential accrual or disclosure in our condensed consolidated financial statements. Effective November 2, 2020, as part of our regularly scheduled borrowing base redetermination, the borrowing base of our Credit Facility (as defined below) was decreased from $330 million to $310 million. See Note 6 for more information.

Through October 31, 2020, the Company entered into additional derivative contracts. The following tables summarize the weighted-average prices as well as future production volumes for our future derivative contracts entered into after September 30, 2020:
Oil Derivative Contracts
(New York Mercantile Exchange (“NYMEX”) West Texas Intermediate (“WTI”) Settlements)
Total Volumes
(Bbls)(1)
Weighted-Average PriceWeighted-Average Collar Floor PriceWeighted-Average Collar Call Price
2022 Contracts
Swap Contracts
3Q2236,800 $43.38 
Collar Contracts
1Q2240,500 $40.00 $45.55 
2Q2229,400 $40.00 $45.30 
(1) Bbl refers to one barrel of oil.
Natural Gas Derivative Contracts
(NYMEX Henry Hub Settlements)		Total Volumes
(MMBtu)		Weighted-Average Collar Floor Price Weighted-Average Collar Call Price
2022 Contracts
Collar Contracts
3Q22920,000 $2.35 $2.65 

Natural Gas Basis Derivative Swaps
(East Texas Houston Ship Channel vs. NYMEX Settlements)		Total Volumes
(MMBtu)		Weighted-Average Price
2022 Contracts
1Q221,800,000 $(0.08)
2Q221,820,000 $(0.08)
3Q221,840,000 $(0.08)
4Q221,840,000 $(0.08)

There were no other material subsequent events requiring additional disclosure in these condensed consolidated financial statements.
Property and Equipment
The “Property and Equipment” balances on the accompanying condensed consolidated balance sheets are summarized for presentation purposes. The following is a detailed breakout of our “Property and Equipment” balances (in thousands):
September 30, 2020December 31, 2019
Property and Equipment  
Proved oil and gas properties$1,287,962 $1,201,296 
Unproved oil and gas properties30,661 41,201 
Furniture, fixtures and other equipment5,166 5,220 
Less – Accumulated depreciation, depletion, amortization & impairment(787,830)(380,728)
Property and Equipment, Net$535,959 $866,989 
Disaggregation of Revenue [Table Text Block]
The following table provides information regarding our oil and gas sales, by product, reported on the Statements of Operations for the three months ended September 30, 2020 and 2019 and the nine months ended September 30, 2020 and 2019 (in thousands):
Three Months Ended September 30, 2020Three Months Ended September 30, 2019Nine Months Ended September 30, 2020Nine Months Ended September 30, 2019
Oil, natural gas and NGLs sales:
Oil$17,665 $28,894 $40,979 $68,441 
Natural gas23,595 37,040 73,170 131,941 
NGLs4,439 6,080 9,772 18,400 
Total$45,699 $72,014 $123,921 $218,781 
Accounts Payable and Accrued Liabilities The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands):
 September 30, 2020December 31, 2019
Trade accounts payable$8,063 $26,121 
Accrued operating expenses2,816 3,873 
Accrued compensation costs3,414 4,601 
Asset retirement obligations – current portion439 392 
Accrued non-income based taxes4,133 1,413 
Accrued corporate and legal fees162 109 
Other payables3,680 2,834 
Total accounts payable and accrued liabilities$22,707 $39,343