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Supplementary Information (Tables) | 12 Months Ended
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Dec. 31, 2021
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) |  | 2021 |  |  | 2020 |
Proved Developed oil and gas properties |  | $ | 539,484 |  |  | $ | 520,488 |
Proved Undeveloped oil and gas properties |  |  | — |  |  |  | — |
Total Capitalized Costs |  |  | 539,484 |  |  |  | 520,488 |
Accumulated depreciation, depletion and valuation allowance |  |  | (359,742 | ) |  |  | (335,390 | )
Net Capitalized Costs |  | $ | 179,742 |  |  | $ | 185,098 |
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) cash flow sched
|  | Year Ended December 31, |
(Thousands of dollars) |  | 2021 |  |  | 2020 |
Development Costs |  | $ | 18,678 |  |  | $ | 9,339 |
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) |  | 2021 |  |  | 2020 |
Future cash inflows |  | $ | 501,431 |  |  | $ | 221,090 |
Future production costs |  |  | (207,697 | ) |  |  | (100,691 | )
Future development costs |  |  | (18,507 | ) |  |  | (39,167 | )
Future income tax expenses |  |  | (57,798 | ) |  |  | (15,135 | )
Future Net Cash Flows |  |  | 217,429 |  |  |  | 66,097 |
10% annual discount for estimated timing of cash flows |  |  | (81,623 | ) |  |  | (24,479 | )
Standardized Measure of Discounted Future Net Cash Flows |  | $ | 135,806 |  |  | $ | 41,619 |
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 2021 and 2020:
|  | Year Ended December 31, |
(Thousands of dollars) |  | 2021 |  |  | 2020 |
Sales of oil and gas produced, net of production costs |  | $ | (45,322 | ) |  | $ | (13,945 | )
Net changes in prices and production costs |  |  | 143,750 |  |  |  | (16,578 | )
Extensions, discoveries and improved recovery |  |  | 6,440 |  |  |  | 314 |
Revisions of previous quantity estimates |  |  | 18,991 |  |  |  | (36,919 | )
Net change in development costs |  |  | (12,904 | ) |  |  | 20,724 |
Reserves sold |  |  | (136 | ) |  |  | (874 | )
Reserves purchased |  |  | — |  |  |  | 218 |
Accretion of discount |  |  | 4,162 |  |  |  | 8,161 |
Net change in income taxes |  |  | (21,180 | ) |  |  | 5,386 |
Changes in production rates (timing) and other |  |  | 386 |  |  |  | (6,480 | )
Net change |  |  | 94,187 |  |  |  | (39,993 | )
Standardized measure of discounted future net cash flow: |  |  |  |  |  |  |  |
Beginning of year |  |  | 41,619 |  |  |  | 81,612 |
End of year |  | $ | 135,806 |  |  | $ | 41,619 |
Reserve Quantity Information | RESERVE QUANTITY INFORMATION Years Ended December 31, 2021 and 2020 (Unaudited)
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
|  | Oil (MBbls) |  |  | NGL’s (MBbls) |  |  | Gas (MMcf) |  |  | Oil (MBbls) |  |  | NGLs (MBbls) |  |  | Gas (MMcf) |
Proved Developed Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 2,684 |  |  |  | 2,258 |  |  |  | 13,633 |  |  |  | 4,381 |  |  |  | 2,914 |  |  |  | 19,995 |
Extensions, discoveries and improved recovery |  |  | 69 |  |  |  | 1 |  |  |  | 628 |  |  |  | 11 |  |  |  | 7 |  |  |  | 36 |
Revisions of previous estimates |  |  | 133 |  |  |  | (29 | ) |  |  | 5,312 |  |  |  | (995 | ) |  |  | (239 | ) |  |  | (1,721 | )
Converted from undeveloped reserves |  |  | 1,747 |  |  |  | 231 |  |  |  | 1,067 |  |  |  | 25 |  |  |  | 5 |  |  |  | 66 |
Reserves sold |  |  | 15 |  |  |  | 5 |  |  |  | 26 |  |  |  | (29 | ) |  |  | 0 |  |  |  | (1,400 | )
Reserve purchased |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24 |  |  |  | 8 |  |  |  | 38 |
Production |  |  | 738 |  |  |  | 416 |  |  |  | 3,236 |  |  |  | (733 | ) |  |  | (437 | ) |  |  | (3,381 | )
End of year |  |  | 5,386 |  |  |  | 2,882 |  |  |  | 23,902 |  |  |  | 2,684 |  |  |  | 2,258 |  |  |  | 13,633 |
Proved Undeveloped Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 1,784 |  |  |  | 787 |  |  |  | 3,897 |  |  |  | 1,833 |  |  |  | 1,017 |  |  |  | 4,547 |
Extensions, discoveries and improved recovery |  |  | (61 | ) |  |  | (557 | ) |  |  | (2,726 | ) |  |  | — |  |  |  | — |  |  |  | — |
Revisions of previous estimates |  |  | 31 |  |  |  | 4 |  |  |  | 386 |  |  |  | (24 | ) |  |  | (224 |  |  |  | (584 | )
Converted to developed reserves |  |  | (1,747 | ) |  |  | (231 | ) |  |  | (1,067 | ) |  |  | (25 | ) |  |  | (5 | ) |  |  | (66 | )
Reserves Sold |  |  | (7 | ) |  |  | (4 | ) |  |  | (489 | ) |  |  | — |  |  |  | — |  |  |  | — |
End of year |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,784 |  |  |  | 787 |  |  |  | 3,897 |
Total Proved Reserves at the End of the Year |  |  | 5,386 |  |  |  | 2,882 |  |  |  | 23,902 |  |  |  | 4,468 |  |  |  | 3,045 |  |  |  | 17,530 |
Results of Operations from Oil and Gas Producing Activities | RESULTS OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES Years Ended December 31, 2021 and 2020 (Unaudited)
|  | Year Ended December 31, |
(Thousands of dollars) |  | 2021 |  |  | 2020 |
Revenue: |  |  |  |  |  |  |  |
Oil and gas sales |  | $ | 73,126 |  |  | $ | 36,973 |
Costs and Expenses: |  |  |  |  |  |  |  |
Lease operating expenses |  |  | 27,804 |  |  |  | 23,028 |
Depreciation, depletion and accretion |  |  | 26,325 |  |  |  | 25,921 |
Income tax expense |  |  | 3,989 |  |  |  | (2,515 | )
Total Costs and Expenses |  |  | 58,118 |  |  |  | 46,434 |
Results of Operations from Producing Activities (excluding corporate overhead and interest costs) |  | $ | 15,008 |  |  | $ | (9,461 | )

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61884-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61858-109447 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61872-109447 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61831-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61797-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61869-109447 + Details
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