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ACQUISITIONS (Tables) | 3 Months Ended
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Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED | SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED
|  | Amount |
|  | (in thousands) |
Amounts incurred: |  |  |  |
Cash |  | $ | 1,250 |
Value of 19,905,736 shares issued |  |  | 64,694 |
Purchase price adjustments |  |  | 1,497 |
Transaction costs |  |  | 1,267 |
Total consideration paid |  |  | 68,708 |
Debt assumed |  |  | 3,347 |
Commodity derivative liabilities assumed |  |  | 3,152 |
Suspense accounts assumed |  |  | 1,276 |
Employee obligations assumed |  |  | 100 |
Asset retirement obligations assumed |  |  | 9,614 |
Deferred tax liabilities |  |  | 2,460 |
Total liabilities assumed |  |  | 19,949 |
Total consideration paid and liabilities assumed |  | $ | 88,657 |
Allocation to acquired assets: |  |  |  |
Proved oil and gas properties |  |  | 87,037 |
Oil inventory in tanks |  |  | 1,286 |
Vehicles |  |  | 165 |
Deposit account |  |  | 169 |
Total allocation to acquired assets |  | $ | 88,657 |

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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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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