Business Combinations and Asset Acquisitions (Tables)

Jun. 30, 2022

May 10, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table represents the allocation of the total cost of the acquisition to the assets acquired and liabilities assumed (in thousands):

Total Cost
Cash consideration	$	242,298
Equity consideration	117,651
Fair value of contingent consideration	8,566
Accrued purchase price adjustments receivable	(26,000)
Total Consideration	342,515
Transaction costs	5,264
Total Cost of Transaction	$	347,779
Allocation of Total Cost
Assets
Other current assets	$	4,202
Oil and gas properties	392,645
Right of use assets	890
Total assets	397,737
Liabilities
Accounts payable and accrued liabilities	12,857
Fair value of commodity derivatives	33,767
Non-current lease liability	890
Asset retirement obligations	2,444
Total Liabilities	$	49,958
Net Assets Acquired	$	347,779

The following table represents the allocation of the total cost of the acquisition to the assets acquired and liabilities assumed (in thousands):

Total Cost
Cash consideration	$	28,972
Equity consideration	39,767
Accrued purchase price adjustments receivable	(1,501)
Total Consideration	67,238
Transaction costs	400
Total Cost of Transaction	$	67,638
Allocation of Total Cost
Assets
Oil and gas properties	$	84,307
Total assets	84,307
Liabilities
Fair value of commodity derivatives	16,511
Asset retirement obligations	158
Total Liabilities	$	16,669
Net Assets Acquired	$	67,638