Note 8 - Commodity Derivative Activities (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

Schedule of Realized and Unrealized Gains and Losses [Table Text Block]

	Three Months Ended March 31, 2019			Three Months Ended March 31, 2018
Oil and Natural Gas Derivatives (in thousands)
Loss on commodity derivatives not designated as hedges, settled	$	(1,760	)	$	(384	)
Gain (loss) on commodity derivatives not designated as hedges, not settled		752			(597	)
Total loss on commodity derivatives not designated as hedges	$	(1,008	)	$	(981	)

Schedule of Price Risk Derivatives [Table Text Block]

Contract Type	Daily Volume		Total Volume		Weighted Average Fixed Price		Fair Value at March 31, 2019 (In thousands)
Oil swaps (Bbls)
2019		308		84,775	$	51.08	$	(742	)
Total oil							$	(742	)
Natural Gas swaps (MMBtu)
2020 (through March 31, 2020)		70,000		6,370,000	$	2.873	$	(787	)
2019		100,000		27,500,000	$	2.887	$	2,613
Total natural gas							$	1,826
Total oil and natural gas							$	1,084

Contract Type	Daily Volume	Fixed Price	Contract Start Date	Contract Termination
Natural gas swap (MMBtu)	30,000	$2.951	April 1, 2019	March 31, 2020

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Description	Level 1		Level 2			Level 3		Total
Fair value of oil and natural gas derivatives - Current Assets	$	-	$	1,826		$	-	$	1,826
Fair value of oil and natural gas derivatives - Non-current Assets		-		-			-		-
Fair value of oil and natural gas derivatives - Current Liabilities		-		(742	)		-		(742	)
Fair value of oil and natural gas derivatives - Non-current Liabilities		-		-			-		-
Total	$	-	$	1,084		$	-	$	1,084

Offsetting Liabilities [Table Text Block]

	March 31, 2019									December 31, 2018
Fair Value of Oil and Natural Gas Derivatives	Gross			Amount			As			Gross			Amount			As
( in thousands )	Amount			Offset			Presented			Amount			Offset			Presented
Fair value of oil and natural gas derivatives - Current Assets	$	3,035		$	(1,209	)	$	1,826		$	2,893		$	(2,090	)	$	803
Fair value of oil and natural gas derivatives - Non-current Assets		-			-			-			-			-			-
Fair value of oil and natural gas derivatives - Current Liabilities		(1,951	)		1,209			(742	)		(2,090	)		2,090			-
Fair value of oil and natural gas derivatives - Non-current Liabilities		-						-			(471	)		-			(471	)
Total	$	1,084		$	-		$	1,084		$	332		$	-		$	332