Acquisitions and Dispositions (Tables) |
12 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Acquisitions and Dispositions [Abstract] | |
| Fair Value of Assets and Liabilities Acquired | February 25, 2021 (in thousands)Purchase Consideration Cash$ 33,959Fair value of contingent consideration 4,647 Total purchase consideration$ 38,606 February 25, 2021 (in thousands)Assets acquired: Wells, platforms and other production facilities$ 37,176Equipment and other 5,568Value added tax and other receivables 1,234Abandonment funding 11,781Accounts receivable - trade 11,220Other current assets 3,963Liabilities assumed: Asset retirement obligations (14,564)Accrued liabilities and other (10,121)Bargain purchase gain (7,651)Total purchase price$ 38,606 |
| Pro Forma Results of Acquisition | Year Ended December 31, 2021 2020 (in thousand) Pro forma (unaudited) Crude oil and natural gas sales$ 216,848 $ 127,199 Operating income (loss) 89,782 (16,902) Net income (loss) 66,001(a) (36,508)(b) Basic net income (loss) per share: Income (loss) from continuing operations$1.14 $(0.63) Loss from discontinued operations, net of tax (0.01) — Net income (loss) per share$ 1.13 $ (0.63) Basic weighted average shares outstanding 58,230 57,594 Diluted net income (loss) per share: Income (loss) from continuing operations$1.12 $(0.63) Loss from discontinued operations, net of tax — — Net income (loss) per share$ 1.12 $ (0.63) Diluted weighted average shares outstanding 58,755 57,594 ____________________________(a)The unaudited pro forma net income for the year ended December 31, 2021 excludes nonrecurring pro forma adjustments directly attributable to the Sasol Acquisition, consisting of a bargain purchase gain of $7.7 million and transaction costs of $1.0 million.(b)The unaudited pro forma net loss for the year ended December 31, 2020 includes nonrecurring pro forma adjustments directly attributable to the Sasol Acquisition, consisting of a bargain purchase gain of $7.7 million and transaction costs of $1.0 million. |