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Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2021
Acquisitions and Dispositions [Abstract] |
Fair Value of Assets and Liabilities Acquired |
|  | 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
Pro Forma Results of Acquisition |
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2021 |  | 2020 |  | 2021 |  | 2020 |
| (in thousands) |
Pro forma (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Crude oil and natural gas sales | $ | 47,023 |  | $ | 34,034 |  | $ | 104,570 |  | $ | 68,854 |
Operating income (loss) |  | 18,874 |  |  | 1,270 |  |  | 43,899 |  |  | (20,231) |
Net income (loss) |  | 5,884 |  |  | 1,703 |  |  | 17,620 | (a) |  | (45,452) | (b)
Basic net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | 0.10 |  | $ | 0.03 |  | $ | 0.30 |  | $ | (0.79) |
Loss from discontinued operations, net of tax |  | 0.00 |  |  | 0.00 |  |  | 0.00 |  |  | 0.00 |
Net income (loss) per share | $ | 0.10 |  | $ | 0.03 |  | $ | 0.30 |  | $ | (0.79) |
Basic weighted average shares outstanding |  | 58,072 |  |  | 57,456 |  |  | 57,855 |  |  | 57,716 |
Diluted net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | 0.10 |  | $ | 0.03 |  | $ | 0.30 |  | $ | (0.79) |
Loss from discontinued operations, net of tax |  | 0.00 |  |  | 0.00 |  |  | 0.00 |  |  | 0.00 |
Net income (loss) per share | $ | 0.10 |  | $ | 0.03 |  | $ | 0.30 |  | $ | (0.79) |
Diluted weighted average shares outstanding |  | 58,574 |  |  | 57,594 |  |  | 58,527 |  |  | 57,716 |
________________ (a)The pro forma net income for the six months ended June 30, 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 pro forma net loss for the six months ended June 30, 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.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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