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Acquisitions and Dispositions (Tables) | 12 Months Ended
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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.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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=123413009&loc=d3e4845-128472 + Details
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