| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
| |
|
October 13, 2022 |
|
| |
|
(in thousands) |
|
| Purchase Consideration |
|
|
|
|
| Common stock issued to TransGlobe shareholders |
|
$ |
274,145 |
|
| |
|
October 13, 2022 |
|
| |
|
(in thousands) |
|
| Assets acquired: |
|
|
|
|
| Cash |
|
$ |
36,686 |
|
| Wells, platforms and other production facilities |
|
|
243,669 |
|
| Equipment and other |
|
|
2,099 |
|
| Undeveloped acreage |
|
|
30,216 |
|
| Accounts receivable - trade |
|
|
48,068 |
|
| Accounts receivable - other |
|
|
50,275 |
|
| Accounts with joint venture owners |
|
|
68 |
|
| Right of use operating leases |
|
|
1,609 |
|
| Right of use financing leases |
|
|
204 |
|
| Prepayment and other |
|
|
7,627 |
|
| Liabilities assumed: |
|
|
|
|
| Asset retirement obligations |
|
|
(6,134 |
) |
| Accounts payable |
|
|
(10,223 |
) |
| Accrued liabilities and other |
|
|
(50,128 |
) |
| Operating lease liabilities - current portion |
|
|
(961 |
) |
| Financing lease liabilities - current portion |
|
|
(125 |
) |
| Operating lease liabilities - net of current portion |
|
|
(688 |
) |
| Financing lease liabilities - net of current portion |
|
|
(21 |
) |
| Deferred tax liabilities |
|
|
(40,964 |
) |
| Other long-term liabilities |
|
|
(26,313 |
) |
| Bargain purchase gain |
|
|
(10,819 |
) |
| Total purchase price |
|
$ |
274,145 |
|
| |
|
February 25, 2021 |
|
| |
|
(in thousands) |
|
| Purchase Consideration |
|
|
|
|
| Cash |
|
$ |
33,959 |
|
| Fair value of contingent consideration |
|
|
4,647 |
|
| Total purchase consideration |
|
$ |
38,606 |
|
| |
|
February 25, 2021 |
|
| |
|
(in thousands) |
|
| Assets acquired: |
|
|
|
|
| Wells, platforms and other production facilities |
|
$ |
37,176 |
|
| Equipment and other |
|
|
5,568 |
|
| Value added tax and other receivables |
|
|
1,234 |
|
| Abandonment funding |
|
|
11,781 |
|
| Accounts receivable - trade |
|
|
11,220 |
|
| Other current assets |
|
|
3,963 |
|
| Liabilities assumed: |
|
|
|
|
| Asset retirement obligations |
|
|
(14,564 |
) |
| Accrued liabilities and other |
|
|
(10,121 |
) |
| Bargain purchase gain |
|
|
(7,651 |
) |
| Total purchase price |
|
$ |
38,606 |
|
|
| Business Acquisition, Pro Forma Information [Table Text Block] |
| |
|
Year Ended December 31, |
|
|
| |
|
2022 |
|
|
|
2021 |
|
|
| |
|
(in thousands) |
|
|
| Pro forma (unaudited) |
|
|
|
|
|
|
|
|
|
|
| Crude oil and natural gas sales |
|
$ |
547,670 |
|
(a) |
|
$ |
367,210 |
|
(a) |
| Operating income |
|
$ |
267,582 |
|
(b) |
|
$ |
104,924 |
|
(c) |
| Net income |
|
$ |
130,425 |
|
(d) |
|
$ |
54,534 |
|
(e,f) |
| |
|
|
|
|
|
|
|
|
|
|
| Basic net income per share: |
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
1.21 |
|
|
|
$ |
0.51 |
|
|
| Loss from discontinued operations, net of tax |
|
|
- |
|
|
|
|
- |
|
|
| Net income per share |
|
$ |
1.21 |
|
|
|
$ |
0.51 |
|
|
| Basic weighted average shares outstanding |
|
|
108,206 |
|
|
|
|
107,537 |
|
|
| Diluted net income per share: |
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
1.20 |
|
|
|
$ |
0.50 |
|
|
| Loss from discontinued operations, net of tax |
|
|
- |
|
|
|
|
- |
|
|
| Net income per share |
|
$ |
1.20 |
|
|
|
$ |
0.50 |
|
|
| Diluted weighted average shares outstanding |
|
|
108,642 |
|
|
|
|
108,062 |
|
|
|