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Note 4 - Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2022
Notes Tables |
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 |  |

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