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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Other $ 7 $ 2 $ 12 $ 8
Total revenue 14,536 18,443 26,721 35,113
Operating costs and expenses:        
Lease operating 2,518 4,067 5,091 8,447
Production and ad valorem taxes 1,156 1,688 2,295 3,073
Rig expense 118 128 224 244
Depreciation, depletion, amortization and accretion 1,567 4,242 3,147 8,139
General and administrative (including stock-based compensation of $138, $196 $325 and $507, respectively) 1,900 2,262 3,818 4,311
Total operating cost and expenses 7,259 12,387 14,575 24,214
Operating income 7,277 6,056 12,146 10,899
Other (income) expense:        
Interest income (1) (4) (1) (9)
Interest expense 30 7,662 100 13,685
Gain on sale of oil and gas assets 0 0 (29,359) 0
Loss (gain) on sale of non-oil and gas assets 0 (29) 669 (29)
Amortization of deferred financing fees 0 1,201 0 2,402
Financing fees 0 1,284 0 1,284
Debt forgiveness     (6,645) 1,384
Other 500 0 500 0
Loss on derivative contracts 0 9,947 0 32,645
Total other expense (income) 529 20,061 (34,736) 48,594
Income (loss) before income tax 6,748 (14,005) 46,882 (37,695)
Income tax (expense) benefit 0 0 0 0
Net income (loss) 6,748 (14,005) 46,882 (37,695)
Accretion of preferred stock 2,081 0 4,064 0
Net income (loss) attributable to common stock $ 4,667 $ (14,005) $ 42,818 $ (37,695)
Net income (loss) per common share - basic (in dollars per share) $ 0.61 $ (1.67) $ 5.92 $ (4.49)
Net income (loss) per common share - diluted (in dollars per share) $ 0.50 $ (1.67) $ 4.82 $ (4.49)
Weighted average shares outstanding:        
Basic (in shares) 7,686 8,403 7,230 8,403
Diluted (in shares) 9,336 8,403 8,880 8,403
Paycheck Protection Program, CARES Act [Member]        
Other (income) expense:        
Debt forgiveness $ (0) $ (0) $ 6,645 $ 1,384
Oil Revenues [Member]        
Revenues:        
Revenues 11,283 15,768 21,574 29,693
Gas Revenues [Member]        
Revenues:        
Revenues 2,168 1,259 3,299 2,929
Natural Gas Liquids Revenues [Member]        
Revenues:        
Revenues $ 1,078 $ 1,414 $ 1,836 $ 2,483