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REVENUES

12 Months Ended

Dec. 31, 2023

7. REVENUES

Oil, natural gas liquids and natural gas are mostly sold under contracts of varying price and volume terms. Revenues for oil are typically collected on the 20th day of the month following production, while natural gas and NGL revenues are collected by the 45th day of the month following production. The amount of accrued accounts receivable at December 31, 2023 was $5.5 million (2022 - $5.8 million).

The following table presents the Company’s gross oil and gas revenue disaggregated by revenue source:

	2023			2022
	December 31,
	2023			2022

Oil revenue	$	59,749		$	42,795
Natural gas revenue		1,742			2,759
NGL revenue		2,899			2,822
Total oil and natural gas revenues		64,390			48,376
Less: Royalties		(13,793	)		(10,816	)
Oil and natural gas revenues, net of royalties	$	50,597		$	37,560