XML 46 R18.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 10 - Derivatives and Fair Value | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes to Financial Statements |
Derivatives and Fair Value [Text Block] | 10. DERIVATIVES AND FAIR VALUE Commodity swaps Outstanding derivative contracts at December 31, 2023 are as follows:
Settlement Period |  | Type of Contract |  | Index |  | Average Monthly Volumes |  |  | Weighted Average Put Price |  |  | Weighted Average Call Price |
|  |  |  |  |  | (Bbls) |  |  | (per Bbl) |  |  | (per Bbl) |
January 2024 - March 2024 |  | Collars |  | Dated Brent |  |  | 85,000 |  |  | $ | 65.00 |  |  | $ | 97.00 |
April 2024 - June 2024 |  | Collars |  | Dated Brent |  |  | 65,000 |  |  | $ | 65.00 |  |  | $ | 100.00 |
The following table sets forth the gain (loss) on derivative instruments on the Company’s consolidated statements of operations and comprehensive income (loss):
|  |  |  | Twelve Months Ended December 31, |
Derivative Item |  | Statements of Operations Line |  | 2023 |  |  | 2022 |  |  | 2021 |
|  |  |  | (in thousands) |
Commodity derivatives |  | Cash settlements paid on matured derivative contracts, net |  | $ | (127 | ) |  | $ | (42,935 | ) |  | $ | (18,020 | )
|  | Unrealized gain (loss) |  |  | 359 |  |  |  | 5,123 |  |  |  | (4,806 | )
|  | Derivative instruments gain (loss), net |  | $ | 232 |  |  | $ | (37,812 | ) |  | $ | (22,826 | )

X
- Definition The entire disclosure for derivatives and fair value of assets and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//815/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//820/tableOfContent + Details
Name: | us-gaap_DerivativesAndFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration