Note 3 - Acquisition (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	April 30, 2024
	(in thousands)
Purchase Consideration
Cash	$	40,166
Total purchase consideration	$	40,166
	April 30, 2024
	(in thousands)
Assets acquired:
Cash and cash equivalents	$	31,789
Other receivables, net		830
Crude oil inventory		14,981
Prepayments and other		409
Crude oil, natural gas and NGLs properties and equipment, net		100,188
Restricted cash		8,788
Other LT receivables		33
Deferred tax asset		28,153
Total assets acquired		185,172
Liabilities assumed:
Accounts payable		(2,506	)
State oil liability		(19,447	)
Accrued tax settlement		(8,788	)
Accrued accounts payable invoices		(21,692	)
Accrued liabilities and other		(19,083	)
Asset retirement obligations		(15,694	)
Deferred tax liability		(37,897	)
Total liabilities acquired		(125,107	)
Bargain purchase gain		(19,898	)
Total purchase price	$	40,166

Business Acquisition, Pro Forma Information [Table Text Block]

	April 30, 2024 through June 30, 2024
	(in thousands)
Crude oil, natural gas and natural gas liquids sales	$	17,240
Net loss	$	(2,921	)

	Three Months Ended June 30,						Six Months Ended June 30,
	2024				2023		2024		2023
	(in thousands)						(in thousands)
Pro forma (unaudited)
Crude oil, natural gas and natural gas liquids sales	$	116,778			$	158,631	$	248,458	$	269,547
Operating income		(7,336	)			53,476		38,091		84,836
Net income (loss)		(5,842	)	(a)		23,668		9,316		32,182
Basic net income (loss) per share:
Income (loss) from continuing operations	$	(5,842	)		$	23,668	$	9,316	$	32,182
Net income (loss) per share	$	(0.06	)		$	0.22	$	0.09	$	0.30
Basic weighted average shares outstanding		103,528				106,965		103,594		107,175
Diluted net income (loss) per share:
Income (loss) from continuing operations	$	(5,842	)		$	23,668	$	9,316	$	32,182
Net income (loss) per share	$	(0.06	)		$	0.22	$	0.09	$	0.30
Diluted weighted average shares outstanding		103,676				107,613		103,677		108,050