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ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 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			9,855
Deferred tax liabilities			2,460
Total liabilities assumed			20,190
Total consideration paid and liabilities assumed		$	88,898
Allocation to acquired assets:
Proved oil and gas properties			87,278
Oil inventory in tanks			1,286
Vehicles			165
Deposit account			169
Total allocation to acquired assets		$	88,898

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- References

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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

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