XML 48 R37.htm IDEA: XBRL DOCUMENT v3.21.2
Summary of Significant Accounting Policies (Details Textual)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 08, 2021
USD ($)
shares
Oct. 01, 2021
USD ($)
shares
Sep. 30, 2021
USD ($)
bbl
MMBTU
$ / MMBTU
$ / Boe
shares
Jun. 30, 2021
shares
Mar. 31, 2021
shares
Sep. 30, 2020
USD ($)
shares
Jun. 30, 2020
shares
Mar. 31, 2020
shares
Sep. 30, 2021
USD ($)
bbl
MMBTU
$ / MMBTU
$ / Boe
shares
Sep. 30, 2020
USD ($)
shares
Nov. 04, 2021
bbl
MMBTU
$ / MMBTU
$ / Boe
Aug. 13, 2021
USD ($)
Dec. 31, 2020
USD ($)
Summary of Significant Accounting Policies                          
Brent Spot Price     78 77 64       78        
WTI Spot Price     75 74 59       75        
Stock Issued During Period, Shares, Acquisitions | shares     516,675                    
Acquisition of oil and gas properties | $                 $ 13,219 $ 3,441      
Total capitalized internal costs | $     $ 1,200     $ 800     3,500 2,800      
Proved oil and gas properties | $     1,445,818           1,445,818       $ 1,310,008
Unproved oil and gas properties | $     24,988           24,988       28,090
Furniture, fixtures, and other equipment | $     5,780           5,780       5,275
Less - Accumulated depreciation, depletion, and amortization | $     (846,822)           (846,822)       (801,279)
Net Furniture, Fixtures and other equipment | $     629,764           629,764       542,094
Write-down of oil and gas properties | $     0     0     0 355,948      
Allowance for doubtful accounts receivable, current | $     100           100       100
Accounts receivable, gross | $     41,800           41,800       18,800
Accounts receivable related to joint interest owners | $     800           800       4,000
Severance tax receivable | $     1,200           1,200       2,400
Other receivables | $     400           $ 400       700
Percentage of working interest in wells                 100.00%        
Total amount of supervision fees charged to wells | $     1,300     1,100     $ 3,600 3,200      
Provision (Benefit) for Income Taxes | $     (408)     (572)     (408) 20,607      
Oil and gas sales | $     99,249     $ 45,699     255,850 $ 123,921      
Trade accounts payable | $     8,423           8,423       15,930
Accrued operating expenses | $     3,585           3,585       2,491
Accrued payroll costs | $     3,955           3,955       3,771
Asset retirement obligation - current portion | $     492           492       441
Accrued non-income based taxes | $     6,141           6,141       1,819
Accrued corporate and legal fees | $     132           132       150
Payables for Settled Derivatives | $     13,621           13,621       829
Other payables | $     1,651           1,651       1,560
Accounts payable and accrued liabilities | $     $ 38,000           $ 38,000       $ 26,991
Purchase of treasury stock (shares) | shares     440 13,969 60,177 958 1,098 26,675 74,586 28,731      
ATM Program , Maximum Proceeds | $                       $ 40,000  
Stock Issued During Period, Shares, New Issues | shares     669,600                    
Stock Issued During Period, Value, New Issues | $     $ 12,756                    
Oil sales [Member]                          
Summary of Significant Accounting Policies                          
Oil and gas sales | $     25,230     $ 17,665     $ 58,587 $ 40,979      
Natural gas sales [Member]                          
Summary of Significant Accounting Policies                          
Oil and gas sales | $     62,529     23,595     172,234 73,170      
NGL sales [Member]                          
Summary of Significant Accounting Policies                          
Oil and gas sales | $     $ 11,489     $ 4,439     $ 25,030 $ 9,772      
Subsequent Event [Member] | Post Oak Acquisition                          
Summary of Significant Accounting Policies                          
Working Interest Acquired   1                      
Net Oil Weighted Acres Acquired   15,000                      
Net Gas Weighted Acres Acquired   26,000                      
Stock Issued During Period, Shares, Acquisitions | shares   1,341,990                      
Asset Acquisition, Consideration Transferred | $   $ 35,600                      
Subsequent Event [Member] | Teal Acquisition                          
Summary of Significant Accounting Policies                          
Net Oil Weighted Acres Acquired 17,000                        
Asset Acquisition, Consideration Transferred | $ $ 75,000                        
Acquisition of oil and gas properties | $ $ 45,000                        
Wells Purchased 62                        
Asset Acquisition, Percentage of Liquids Production Acquired 0.71                        
Asset Acquisition, Percentage of Oil Production Acquired 0.46                        
Subsequent Event [Member] | Teal Acquisition | Asset Acquisition, Shares Issuable                          
Summary of Significant Accounting Policies                          
Stock Issued During Period, Shares, Acquisitions | shares 1,351,961                        
Subsequent Event [Member] | Teal Acquisition | Asset Acquisition, Share Value Issuable                          
Summary of Significant Accounting Policies                          
Asset Acquisition, Consideration Transferred, Contingent Consideration | $ $ 25,000                        
Swap [Member] | Fourth Quarter 2021 [Member] | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     272,662           272,662        
Derivative, Swap Type, Fixed Price | $ / Boe     57.50           57.50        
Swap [Member] | Fourth Quarter 2021 [Member] | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     1,530,000           1,530,000        
Derivative, Swap Type, Fixed Price     3.60           3.60        
Swap [Member] | Fourth Quarter 2021 [Member] | NGL Derivative                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     192,324           192,324        
Derivative, Swap Type, Fixed Price     24.26           24.26        
Swap [Member] | First Quarter 2022 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     223,455           223,455        
Derivative, Swap Type, Fixed Price | $ / Boe     49.32           49.32        
Swap [Member] | First Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     232,500           232,500        
Derivative, Swap Type, Fixed Price     4.00           4.00        
Swap [Member] | First Quarter 2022 | NGL Derivative                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     135,000           135,000        
Derivative, Swap Type, Fixed Price     25.75           25.75        
Swap [Member] | First Quarter 2022 | NGL Derivative | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     45,000    
Derivative, Swap Type, Fixed Price                     39.25    
Swap [Member] | Second Quarter 2022 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     136,500           136,500        
Derivative, Swap Type, Fixed Price | $ / Boe     56.66           56.66        
Swap [Member] | Second Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     3,795,000           3,795,000        
Derivative, Swap Type, Fixed Price     2.99           2.99        
Swap [Member] | Second Quarter 2022 | NGL Derivative                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     91,000           91,000        
Derivative, Swap Type, Fixed Price     26.87           26.87        
Swap [Member] | Second Quarter 2022 | NGL Derivative | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     45,500    
Derivative, Swap Type, Fixed Price                     32.82    
Swap [Member] | Third Quarter 2022 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     246,100           246,100        
Derivative, Swap Type, Fixed Price | $ / Boe     49.63           49.63        
Swap [Member] | Third Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     4,142,100           4,142,100        
Derivative, Swap Type, Fixed Price     3.02           3.02        
Swap [Member] | Third Quarter 2022 | NGL Derivative                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     92,000           92,000        
Derivative, Swap Type, Fixed Price     26.87           26.87        
Swap [Member] | Third Quarter 2022 | NGL Derivative | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     46,000    
Derivative, Swap Type, Fixed Price                     31.29    
Swap [Member] | Fourth Quarter 2022 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     184,000           184,000        
Derivative, Swap Type, Fixed Price | $ / Boe     54.84           54.84        
Swap [Member] | Fourth Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     2,760,000           2,760,000        
Derivative, Swap Type, Fixed Price     3.14           3.14        
Swap [Member] | Fourth Quarter 2022 | NGL Derivative                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     92,000           92,000        
Derivative, Swap Type, Fixed Price     26.87           26.87        
Swap [Member] | Fourth Quarter 2022 | NGL Derivative | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     46,000    
Derivative, Swap Type, Fixed Price                     31.09    
Swap [Member] | First Quarter 2023 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl     81,900           81,900        
Derivative, Swap Type, Fixed Price | $ / Boe     55.70           55.70        
Swap [Member] | First Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     275    
Derivative, Swap Type, Fixed Price | $ / Boe                     69.40    
Swap [Member] | Second Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     575    
Derivative, Swap Type, Fixed Price | $ / Boe                     68.40    
Swap [Member] | Third Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     53,980    
Derivative, Swap Type, Fixed Price | $ / Boe                     66.55    
Collar Contracts [Member] | Fourth Quarter 2021 [Member] | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     84,640           84,640        
Derivative, Average Floor Price     34.70           34.70        
Derivative, Average Cap Price     41.01           41.01        
Collar Contracts [Member] | Fourth Quarter 2021 [Member] | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     9,301,000           9,301,000        
Derivative, Average Floor Price     2.73           2.73        
Derivative, Average Cap Price     3.15           3.15        
Collar Contracts [Member] | Fourth Quarter 2021 [Member] | Natural Gas Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU                     310,000    
Derivative, Average Floor Price                     6.00    
Derivative, Average Cap Price                     7.45    
Collar Contracts [Member] | First Quarter 2022 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     40,500           40,500        
Derivative, Average Floor Price     40.00           40.00        
Derivative, Average Cap Price     45.55           45.55        
Collar Contracts [Member] | First Quarter 2022 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     45,000    
Derivative, Average Floor Price                     73.00    
Derivative, Average Cap Price                     79.75    
Collar Contracts [Member] | First Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     9,055,000           9,055,000        
Derivative, Average Floor Price     2.87           2.87        
Derivative, Average Cap Price     3.55           3.55        
Collar Contracts [Member] | First Quarter 2022 | Natural Gas Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU                     590,000    
Derivative, Average Floor Price                     6.00    
Derivative, Average Cap Price                     7.45    
Collar Contracts [Member] | Second Quarter 2022 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     115,850           115,850        
Derivative, Average Floor Price     39.25           39.25        
Derivative, Average Cap Price     46.20           46.20        
Collar Contracts [Member] | Second Quarter 2022 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     45,500    
Derivative, Average Floor Price                     71.00    
Derivative, Average Cap Price                     78.00    
Collar Contracts [Member] | Second Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     6,156,500           6,156,500        
Derivative, Average Floor Price     2.29           2.29        
Derivative, Average Cap Price     2.74           2.74        
Collar Contracts [Member] | Third Quarter 2022 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     46,000    
Derivative, Average Floor Price                     70.00    
Derivative, Average Cap Price                     75.40    
Collar Contracts [Member] | Third Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     6,739,000           6,739,000        
Derivative, Average Floor Price     2.60           2.60        
Derivative, Average Cap Price     2.98           2.98        
Collar Contracts [Member] | Fourth Quarter 2022 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     46,000    
Derivative, Average Floor Price                     68.00    
Derivative, Average Cap Price                     73.60    
Collar Contracts [Member] | Fourth Quarter 2022 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     7,765,076           7,765,076        
Derivative, Average Floor Price     2.69           2.69        
Derivative, Average Cap Price     3.20           3.20        
Collar Contracts [Member] | First Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     45,000    
Derivative, Average Floor Price                     65.00    
Derivative, Average Cap Price                     72.80    
Collar Contracts [Member] | First Quarter 2023 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     8,347,000           8,347,000        
Derivative, Average Floor Price     2.89           2.89        
Derivative, Average Cap Price     3.52           3.52        
Collar Contracts [Member] | Second Quarter 2023 | Oil Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     65,975           65,975        
Derivative, Average Floor Price     56.00           56.00        
Derivative, Average Cap Price     63.20           63.20        
Collar Contracts [Member] | Second Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     45,500    
Derivative, Average Floor Price                     64.00    
Derivative, Average Cap Price                     70.85    
Collar Contracts [Member] | Second Quarter 2023 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     4,125,000           4,125,000        
Derivative, Average Floor Price     2.49           2.49        
Derivative, Average Cap Price     2.92           2.92        
Collar Contracts [Member] | Third Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     46,000    
Derivative, Average Floor Price                     63.00    
Derivative, Average Cap Price                     69.10    
Collar Contracts [Member] | Third Quarter 2023 | Natural Gas Derivative Swaps                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | MMBTU     1,380,000           1,380,000        
Derivative, Average Floor Price     2.60           2.60        
Derivative, Average Cap Price     3.13           3.13        
Collar Contracts [Member] | Fourth Quarter 2023 | Oil Derivative Swaps | Subsequent Event [Member]                          
Summary of Significant Accounting Policies                          
Oil and Gas Production Hedged Volumes | bbl                     46,000    
Derivative, Average Floor Price                     62.00    
Derivative, Average Cap Price                     67.55    
Minimum [Member]                          
Summary of Significant Accounting Policies                          
Estimated useful lives of property                 2 years        
Maximum [Member]                          
Summary of Significant Accounting Policies                          
Estimated useful lives of property                 20 years