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Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment at June 30, 2021 and December 31, 2020 consisted of the following:

(Thousands of dollars)		June 30, 2021				December 31, 2020
Proved oil and gas properties, at cost		$	524,350			$	520,488
Less: Accumulated depletion and depreciation			(347,857	)			(335,390	)
Oil and Gas Properties, Net		$	176,493			$	185,098
Field and office equipment		$	27,011			$	26,797
Less: Accumulated depreciation			(21,110	)			(20,842	)
Field and Office Equipment, Net		$	5,901			$	5,955
Total Property and Equipment, Net		$	182,394			$	191,053

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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