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	$	220,866
Equity consideration	117,651
Fair value of contingent consideration	7,422
Accrued purchase price adjustments receivable	(1,000)
Total Consideration	344,939
Transaction costs	6,766
Total Cost of Transaction	$	351,705
Allocation of Total Cost
Assets
Other current assets	$	4,202
Oil and gas properties	397,401
Right of use assets	890
Total assets	402,493
Liabilities
Accounts payable and accrued liabilities	13,687
Fair value of commodity derivatives	33,767
Non-current lease liability	890
Asset retirement obligations	2,444
Total Liabilities	$	50,788
Net Assets Acquired	$	351,705

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	$	27,709
Equity consideration	39,767
Total Consideration	67,476
Transaction costs	466
Total Cost of Transaction	$	67,942
Allocation of Total Cost
Assets
Oil and gas properties	$	84,810
Total assets	84,810
Liabilities
Accounts payable and accrued liabilities	199
Fair value of commodity derivatives	16,511
Asset retirement obligations	158
Total Liabilities	$	16,868
Net Assets Acquired	$	67,942