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v3.24.1.u1

Supplementary Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block] |
|  | As of December 31, |
(Thousands of dollars) |  | 2023 |  |  | 2022 |
Proved Developed oil and gas properties |  | $ | 659,792 |  |  | $ | 555,280 |
Proved Undeveloped oil and gas properties |  |  | — |  |  |  | — |
Total Capitalized Costs |  |  | 659,792 |  |  |  | 555,280 |
Accumulated depreciation, depletion and valuation allowance |  |  | (406,913 | ) |  |  | (385,811 | )
Net Capitalized Costs |  | $ | 252,879 |  |  | $ | 169,469 |
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block] |
|  | Years Ended December 31, |
(Thousands of dollars) |  | 2023 |  |  | 2022 |
Development Costs |  | $ | 110,700 |  |  | $ | 13,598 |
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block] |
|  | As of December 31, |
(Thousands of dollars) |  | 2023 |  |  | 2022 |
Future cash inflows |  | $ | 1,219,605 |  |  | $ | 994,842 |
Future production costs |  |  | (437,408 | ) |  |  | (378,160 | )
Future development costs |  |  | (213,823 | ) |  |  | (95,746 | )
Future income tax expenses |  |  | (119,359 | ) |  |  | (110,439 | )
Future Net Cash Flows |  |  | 449,015 |  |  |  | 410,497 |
10% annual discount for estimated timing of cash flows |  |  | (170,967 | ) |  |  | (165,961 | )
Standardized Measure of Discounted Future Net Cash Flows |  | $ | 278,048 |  |  | $ | 244,536 |
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block] |
|  | Years Ended December 31, |
(Thousands of dollars) |  | 2023 |  |  | 2022 |
Sales of oil and gas produced, net of production costs |  | $ | (107,742 | ) |  | $ | (86,302 | )
Net changes in prices and production costs |  |  | (98,132 | ) |  |  | 72,640 |
Extensions, discoveries and improved recovery |  |  | 178,960 |  |  |  | 126,029 |
Revisions of previous quantity estimates |  |  | (3,877 | ) |  |  | (10,902 | )
Net change in development costs |  |  | 66,552 |  |  |  | (2,814 | )
Reserves sold |  |  | (398 | ) |  |  | (818 | )
Reserves purchased |  |  | — |  |  |  | — |
Accretion of discount |  |  | 24,454 |  |  |  | 13,581 |
Net change in income taxes |  |  | 4,532 |  |  |  | (8,435 | )
Changes in production rates (timing) and other |  |  | (30,836 | ) |  |  | 5,751 |
Net change |  |  | 33,512 |  |  |  | 108,730 |
Standardized measure of discounted future net cash flow: |  |  |  |  |  |  |  |
Beginning of year |  |  | 244,536 |  |  |  | 135,806 |
End of year |  | $ | 278,048 |  |  | $ | 244,536 |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block] |
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | Oil (MBbls) |  |  | NGL’s (MBbls) |  |  | Gas (MMcf) |  |  | Oil (MBbls) |  |  | NGLs (MBbls) |  |  | Gas (MMcf) |
Proved Developed Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 4,143 |  |  |  | 2,497 |  |  |  | 22,277 |  |  |  | 5,386 |  |  |  | 2,882 |  |  |  | 23,902 |
Extensions, discoveries and improved recovery |  |  | 843 |  |  |  | 467 |  |  |  | 2,391 |  |  |  | 99 |  |  |  | 74 |  |  |  | 464 |
Revisions of previous estimates |  |  | (1,101 | ) |  |  | (515 | ) |  |  | (4,796 | ) |  |  | (375 | ) |  |  | (37 | ) |  |  | 1,309 |
Converted from undeveloped reserves |  |  | 3,028 |  |  |  | 1,833 |  |  |  | 9,030 |  |  |  | — |  |  |  | — |  |  |  | — |
Reserves sold |  |  | (12 | ) |  |  | — |  |  |  | (26 | ) |  |  | (28 | ) |  |  | (5 | ) |  |  | (73 | )
Reserve purchased |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Production |  |  | (1,144 | ) |  |  | (606 | ) |  |  | (4,127 | ) |  |  | (939 | ) |  |  | (417 | ) |  |  | (3,325 | )
End of year |  |  | 5,757 |  |  |  | 3,676 |  |  |  | 24,749 |  |  |  | 4,143 |  |  |  | 2,497 |  |  |  | 22,277 |
Proved Undeveloped Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 3,028 |  |  |  | 1,833 |  |  |  | 9,030 |  |  |  | — |  |  |  | — |  |  |  | — |
Extensions, discoveries and improved recovery |  |  | 6,254 |  |  |  | 5,156 |  |  |  | 24,470 |  |  |  | 3,028 |  |  |  | 1,833 |  |  |  | 9,030 |
Revisions of previous estimates |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Converted to developed reserves |  |  | (3,028 | ) |  |  | (1,833 | ) |  |  | (9,030 | ) |  |  | — |  |  |  | — |  |  |  | — |
Reserves Sold |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
End of year |  |  | 6,254 |  |  |  | 5,156 |  |  |  | 24,470 |  |  |  | 3,028 |  |  |  | 1,833 |  |  |  | 9,030 |
Total Proved Reserves at the End of the Year |  |  | 12,011 |  |  |  | 8,832 |  |  |  | 49,219 |  |  |  | 7,171 |  |  |  | 4,330 |  |  |  | 31,307 |
Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block] |
|  | Years Ended December 31, |
(Thousands of dollars) |  | 2023 |  |  | 2022 |
Revenue: |  |  |  |  |  |  |  |
Oil and gas sales |  | $ | 107,742 |  |  | $ | 124,118 |
Costs and Expenses: |  |  |  |  |  |  |  |
Lease operating expenses |  |  | 39,004 |  |  |  | 37,816 |
Depreciation, depletion and accretion |  |  | 31,660 |  |  |  | 28,068 |
Income tax expense |  |  | 5,797 |  |  |  | 10,329 |
Total Costs and Expenses |  |  | 76,461 |  |  |  | 76,213 |
Results of Operations from Producing Activities (excluding corporate overhead and interest costs) |  | $ | 31,281 |  |  | $ | 47,905 |

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