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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 2,015 $ 11,061
Accounts receivable, net 45,488 20,301
Prepaid obligations 1,402 376
Other current assets 5 38
Total current assets 48,910 31,776
Properties and equipment:    
Oil and gas properties at cost 713,764 659,792
Less: Accumulated depletion and depreciation (431,920) (406,913)
Oil and Gas Property, Successful Effort Method, Net 281,844 252,879
Field and office equipment at cost 27,089 26,955
Less: Accumulated depreciation (23,972) (23,715)
Property, Plant and Equipment, Net 3,117 3,240
Total Property and Equipment, Net 284,961 256,119
Other assets 890 673
Total Assets 334,761 288,568
Current liabilities:    
Accounts payable 19,511 15,424
Accrued property cost 44,422 33,264
Accrued liabilities 15,652 15,349
Current portion of asset retirement and other long-term obligations 816 692
Total Current Liabilities 80,542 64,809
Asset Retirement Obligations 14,779 14,707
Deferred income taxes 52,316 47,236
Other Long-Term Obligations 829 866
Total Liabilities 148,466 127,618
Commitments and Contingencies  
Equity    
Common stock, $.10 par value; 2024 and 2023: Authorized: 2,810,000 shares, outstanding 2024: 1,790,245; outstanding 2023: 1,820,100 shares 281 281
Paid-in capital 7,555 7,555
Retained earnings 236,720 205,669
Treasury stock, at cost; 2024: 1,019,755 shares; 2023: 989,900 58,261 52,555
Total Equity 186,295 160,950
Total Liabilities and Equity 334,761 288,568
Related Party [Member]    
Current liabilities:    
Due to related parties $ 141 $ 80