| 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 |
|
|