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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 2,549 $ 11,061
Accounts receivable, net 24,338 20,301
Prepaid obligations 1,372 376
Other current assets 11 38
Total Current Assets 28,270 31,776
Property and Equipment    
Oil and gas properties at cost 773,330 659,792
Less: Accumulated depletion and depreciation (479,424) (406,913)
Oil and Gas, Successful Efforts Method, Property and Equipment, after Accumulated Depreciation, Depletion, Amortization, and Impairment 293,906 252,879
Field and office equipment at cost 14,643 26,955
Less: Accumulated depreciation (12,712) (23,715)
Property, Plant and Equipment, Net 1,931 3,240
Total Property and Equipment, Net 295,837 256,119
Other assets 515 673
Total Assets 324,622 288,568
Current Liabilities    
Accounts payable 16,329 15,424
Accrued liabilities 33,092 48,613
Current portion of asset retirement and other long-term obligations 200 692
Liabilities, Current 49,655 64,809
Long-Term Bank Debt 4,000 0
Asset Retirement Obligations 13,799 14,707
Deferred Income Taxes 53,405 47,236
Other Long-Term Obligations 838 866
Total Liabilities 121,697 127,618
Commitments and Contingencies  
Equity    
Common stock, $.10 par value; 2024 and 2023: Authorized: 2,810,000 shares, outstanding 2024: 1,708,470 shares; outstanding 2023: 1,820,100 shares. 281 281
Paid-in capital 7,555 7,555
Retained earnings 261,073 205,669
Treasury stock, at cost; 2024: 1,101,530 shares; 2023: 989,900 65,984 52,555
Total Stockholders’ Equity 202,925 160,950
Total Liabilities and Equity 324,622 288,568
Related Party [Member]    
Current Liabilities    
Due to related parties $ 34 $ 80