Note 9 - Derivative Activities (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

Oil and Natural Gas Derivatives (in thousands)	Year Ended December 31, 2019		Year Ended December 31, 2018
Gain (loss) on commodity derivatives not designated as hedges, settled	$	9,560	$	(3,236	)
Gain (loss) on commodity derivatives not designated as hedges, not settled		5,450		(750	)
Total gain (loss) on commodity derivatives not designated as hedges	$	15,010	$	(3,986	)

Schedule of Price Risk Derivatives [Table Text Block]

Contract Type	Average Daily Volume		Total Volume		Weighted Average Fixed Price		December 31, 2019
Crude oil swaps (Bbls)
2020		221		80,945	$	59.02	$	35
2021		220		18,000	$56.58			24
						Total oil		59
Natural gas swaps (MMBtu)
2020		51,631		18,897,000	$	2.67	$	7,502
2021		42,656		3,839,000	$2.64			11
Natural gas collars (MMBtu)
2020		18,287		6,693,000	$2.40-$2.625			901
2021		27,000		2,430,000	$2.40-$2.625			(314	)
						Total natural gas		8,100
Natural gas basis swaps (MMBtu)
2020		50,000		18,300,000	NYMEX - $0.209		$	99
2021		50,000		18,250,000	NYMEX - $0.209			(239	)
2022		50,000		18,250,000	NYMEX - $0.209			(518	)
2023		50,000		18,250,000	NYMEX - $0.209			(679	)
2024		50,000		18,300,000	NYMEX - $0.209			(1,040	)
						Total natural gas basis		(2,377	)
						Total	$	5,782

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	$	-	$	8,537		$	-	$	8,537
Fair value of oil and natural gas derivatives - Non-current Assets		-		31			-		31
Fair value of oil and natural gas derivatives - Current Liabilities		-		-			-		-
Fair value of oil and natural gas derivatives - Non-current Liabilities		-		(2,786	)		-		(2,786	)
Total	$	-	$	5,782		$	-	$	5,782

Offsetting Liabilities [Table Text Block]

	December 31, 2019
Fair Value of Oil and Natural Gas Derivatives (in thousands)	Gross Amount			Amount Offset			As Presented
Fair value of oil and natural gas derivatives - Current Assets	$	9,401		$	(864	)	$	8,537
Fair value of oil and natural gas derivatives - Non-current Assets		847			(816	)		31
Fair value of oil and natural gas derivatives - Current Liabilities		(864	)		864			-
Fair value of oil and natural gas derivatives - Non-current Liabilities		(3,602	)		816			(2,786	)
Total	$	5,782		$	-		$	5,782