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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2021
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.

On August 3, 2021, we acquired additional working interest in 12 wells that we currently operate and additional acreage in Webb County for total aggregate consideration of approximately $24 million.
Through July 30, 2021, 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 June 30, 2021:
Oil Derivative Contracts
(New York Mercantile Exchange (“NYMEX”) West Texas Intermediate (“WTI”) Settlements)
Total Volumes
(Bbls)(1)
Weighted-Average Price
2021 Contracts
3Q2130,000 $70.75 
3Q21 (2)
12,000 $72.76 
4Q2181,250 $66.69 
2022 Contracts
1Q2245,000 $63.37 
2Q2245,500 $62.00 
3Q2246,000 $60.81 
4Q2246,000 $59.75 
(1) Bbl refers to one barrel of oil.
(2) Transaction for a swap purchase to reduce overall hedge position.
Natural Gas Derivative Contracts
(NYMEX Henry Hub Settlements)		Total Volumes
(MMBtu)		Weighted-Average PriceWeighted-Average Collar Floor Price Weighted-Average Collar Call Price
Swap Contracts
2021 Contracts
3Q21610,000 $4.00 
4Q211,240,000 $3.90 
2022 Contracts
2Q223,795,000 $2.99 
3Q224,140,000 $3.02 
4Q222,760,000 $3.14 
Collar Contracts
2022 Contracts
4Q221,380,000 $2.90 $3.34 
2023 Contracts
1Q231,350,000 $2.95 $3.51 
2Q232,275,000 $2.40 $2.84 

NGL Swaps (Mont Belvieu)Total Volumes
(Bbls)		Weighted-Average Price
2022 Contracts
1Q2245,000 $26.32 
2Q2245,500 $26.32 
3Q2246,000 $26.32 
4Q2246,000 $26.32 

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):
June 30, 2021December 31, 2020
Property and Equipment  
Proved oil and gas properties$1,372,163 $1,310,008 
Unproved oil and gas properties24,312 28,090 
Furniture, fixtures and other equipment5,727 5,275 
Less – Accumulated depreciation, depletion, amortization & impairment(830,749)(801,279)
Property and Equipment, Net$571,453 $542,094 
Disaggregation of Revenue [Table Text Block]
The following table provides information regarding our oil and gas sales, by product, reported on the Condensed Consolidated Statements of Operations for the three months ended June 30, 2021 and 2020 and the six months ended June 30, 2021 and 2020 (in thousands):
Three Months Ended June 30, 2021Three Months Ended June 30, 2020Six Months Ended June 30, 2021Six Months Ended June 30, 2020
Oil, natural gas and NGLs sales:
Oil$15,890 $5,265 $33,356 $23,315 
Natural gas46,791 18,103 109,705 49,574 
NGLs7,180 1,478 13,541 5,333 
Total$69,861 $24,846 $156,602 $78,222 
Accounts Payable and Accrued Liabilities The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands):
 June 30, 2021December 31, 2020
Trade accounts payable$8,736 $15,930 
Accrued operating expenses2,873 2,491 
Accrued compensation costs2,579 3,771 
Asset retirement obligations – current portion515 441 
Accrued non-income based taxes2,517 1,819 
Accrued corporate and legal fees143 150 
Other payables6,524 2,389 
Total accounts payable and accrued liabilities$23,887 $26,991