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Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Capitalized Costs Relating to Oil and Gas Producing Activities

CAPITALIZED COSTS RELATING TO

OIL AND GAS PRODUCING ACTIVITIES

(Unaudited)

		As of December 31,
(Thousands of dollars)		2020				2019
Proved Developed oil and gas properties		$	520,488			$	527,729
Proved Undeveloped oil and gas properties			—				—
Total Capitalized Costs			520,488				527,729
Accumulated depreciation, depletion and valuation allowance			335,390				322,409
Net Capitalized Costs		$	185,098			$	205,320

Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities

COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION,

EXPLORATION AND DEVELOPMENT ACTIVITIES

(Unaudited)

		Year Ended December 31,
(Thousands of dollars)		2020				2019
Development Costs		$	9,339			$	15,348

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves

STANDARDIZED MEASURE OF DISCOUNTED FUTURE

NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES

(Unaudited)

		As of December 31,
(Thousands of dollars)		2020				2019
Future cash inflows		$	221,090			$	423,839
Future production costs			(100,691	)			(202,169	)
Future development costs			(39,167	)			(62,379	)
Future income tax expenses			(15,135	)			(29,678	)
Future Net Cash Flows			66,097				129,613
10% annual discount for estimated timing of cash flows			(24,479	)			(48,001	)
Standardized Measure of Discounted Future Net Cash Flows		$	41,619			$	81,612

Standardized Measure of Discounted Future Net Cash Flows and Changes therein Relating to Proved Oil and Gas Reserves

STANDARDIZED MEASURE OF DISCOUNTED FUTURE

NET CASH FLOWS AND CHANGES THEREIN

RELATING TO PROVED OIL AND GAS RESERVES

(Unaudited)

The following are the principal sources of change in the standardized measure of discounted future net cash flows during 2020 and 2019:

		Year Ended December 31,
(Thousands of dollars)		2020				2019
Sales of oil and gas produced, net of production costs		$	(13,945	)		$	(15,938	)
Net changes in prices and production costs			(16,578	)			(42,409	)
Extensions, discoveries and improved recovery			314				31,276
Revisions of previous quantity estimates			(36,919	)			(3,319	)
Net change in development costs			20,724				(53,143	)
Reserves sold			(874	)			(113	)
Reserves purchased			218				174
Accretion of discount			8,161				13,791
Net change in income taxes			5,386				5,572
Changes in production rates (timing) and other			(6,480	)			7,812
Net change			(39,993	)			(56,297	)
Standardized measure of discounted future net cash flow:
Beginning of year			81,612				137,909
End of year		$	41,619			$	81,612

Reserve Quantity Information

RESERVE QUANTITY INFORMATION

Years Ended December 31, 2020 and 2019

(Unaudited)

		As of December 31,
		2020												2019
		Oil (MBbls)				NGL’s (MBbls)				Gas (MMcf)				Oil (MBbls)				NGLs (MBbls)				Gas (MMcf)
Proved Developed Reserves:
Beginning of year			4,381				2,914				19,995				6,404				2,707				21,065
Extensions, discoveries and improved recovery			11				7				36				471				264				1,330
Revisions of previous estimates			(995	)			(239	)			(1,721	)			(1,260	)			506				2,033
Converted from undeveloped reserves			25				5				66				7				7				65
Reserves sold			(29	)			0				(1,400	)			(5	)			—				(120	)
Reserve purchased			24				8				38				6				4				19
Production			(733	)			(437	)			(3,381	)			(1,242	)			(574	)			(4,397	)
End of year			2,684				2,258				13,633				4,381				2,914				19,995
Proved Undeveloped Reserves:
Beginning of year			1,833				1,017				4,547				10				12				124
Extensions, discoveries and improved recovery															1,834				1,013				4,530
Revisions of previous estimates			(24	)			(224				(584	)			(4	)			(1	)			(42	)
Converted to developed reserves			(25	)			(5	)			(66	)			(7	)			(7	)			(65	)
End of year			1,784				787				3,897				1,833				1,017				4,457
Total Proved Reserves at the End of the Year			4,468				3,045				17,530				6,214				3,931				24,542

Results of Operations from Oil and Gas Producing Activities

RESULTS OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES

Years Ended December 31, 2020 and 2019

(Unaudited)

		Year Ended December 31,
(Thousands of dollars)		2020				2019
Revenue:
Oil and gas sales		$	36,973			$	84,015
Costs and Expenses:
Lease operating expenses			23,028				33,461
Depreciation, depletion and accretion			25,921				34,616
Income tax expense			(2,515	)			1,421
Total Costs and Expenses			46,434				69,498
Results of Operations from Producing Activities (excluding corporate overhead and interest costs)		$	(9,461	)		$	14,517

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Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

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