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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 30, 2021
Business Acquisition [Line Items] |
SCHEDULE OF BUSINESS ACQUISITIONS | SCHEDULE OF BUSINESS ACQUISITIONS
|  | Amount |
|  | (in thousands) |
Fair value of net assets: |  |  |  |
Proved oil and natural gas properties |  | $ | 564 |
Other current assets |  |  | 14 |
Other long-term assets |  |  | 58 |
Total assets acquired |  |  | 636 |
Asset retirement obligations |  |  | (163 | )
Current payables |  |  | (50 | )
Credit facility |  |  | (61 | )
Net assets acquired |  | $ | 362 |
Fair value of consideration paid for net assets: |  |  |  |
Cash consideration |  | $ | 150 |
Issuance of common stock (59,498 shares at $4.04 per share) |  |  | 240 |
Cash acquired |  |  | (28 | )
Total fair value of consideration transferred |  | $ | 362 |
Field Point Properties [Member] |
Business Acquisition [Line Items] |
SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED | SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED
|  | Amount |
|  | (in thousands) |
Amounts incurred: |  |  |  |
Cash consideration |  | $ | 500 |
Transaction costs |  |  | 97 |
Purchase price adjustments |  |  | (31 | )
Total consideration paid |  |  | 566 |
Asset retirement obligations assumed |  |  | 203 |
Total evaluated property |  | $ | 769 |
Liberty County Properties [Member] |
Business Acquisition [Line Items] |
SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED | SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED
|  | Amount |
|  | (in thousands) |
Amounts incurred: |  |  |  |
Value of 67,254 shares issued |  | $ | 285 |
Transaction costs |  |  | 41 |
Total consideration paid |  |  | 326 |
Asset retirement obligations assumed |  |  | 192 |
Total evaluated property |  | $ | 518 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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