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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 18,503 $ 10,034
Accounts receivable:    
Joint owners, net 163 1,117
Oil and gas production sales 7,636 12,280
Other 0 150
Total accounts receivable 7,799 13,547
Other current assets 959 498
Total current assets 27,261 24,079
Property and equipment:    
Proved oil and gas properties, full cost method 1,122,222 1,165,707
Other property and equipment 31,332 39,337
Total 1,153,554 1,205,044
Less accumulated depreciation, depletion, amortization and impairment (1,095,495) (1,099,075)
Total property and equipment, net 58,059 105,969
Operating lease right-of-use assets 4 173
Other assets 255 255
Total assets 85,579 130,476
Current liabilities:    
Accounts payable 7,902 4,678
Joint interest oil and gas production payable 4,100 13,347
Accrued interest 3 477
Accrued expenses 534 347
Right of use liability 4 40
Derivative liabilities - short-term 0 442
Termination of derivative contracts 0 8,022
Current maturities of long-term debt 318 212,688
Total current liabilities 12,861 240,041
Operating lease right-of-use liabilities 0 110
Future site restoration 2,954 4,708
Total liabilities 17,859 247,064
Commitments and contingencies (Note 9)
Stockholders’ Equity:    
Preferred stock, par value $0.01 per share – authorized 1,000,000 shares; 685,505 and -0- shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 7 0
Common stock, par value $0.01 per share, authorized 20,000,000 shares; 10,070,143 and 8,421,910 issued and outstanding at June 30, 2022 and December 31, 2021, respectively 101 84
Additional paid-in capital 571,888 430,422
Accumulated deficit (504,276) (547,094)
Total stockholders' equity (deficit) 67,720 (116,588)
Total liabilities and stockholders’ equity (deficit) 85,579 130,476
Debt Instruments Excluding PPP Loan [Member]    
Current liabilities:    
Long-term debt – less current maturities $ 2,044 $ 2,205