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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and equivalents $ 3,093 $ 4,422
Oil and natural gas sales receivable 4,520 933
Marketable equity securities 106 191
Prepaid and other current assets 378 179
Real estate assets held for sale, net of selling costs 175 250
Total current assets 8,272 5,975
Oil and natural gas properties under full cost method:    
Unevaluated properties 1,584 1,588
Evaluated properties 201,572 95,088
Less accumulated depreciation, depletion, amortization and impairment (94,376) (88,195)
Net oil and natural gas properties 108,780 8,481
Pending acquisition 2,767
Property and equipment, net 634 188
Right-of-use asset 933 120
Other assets 375 132
Total assets 118,994 17,663
Current liabilities:    
Accounts payable and accrued liabilities 8,196 1,447
Accrued compensation and benefits 683 1,162
Commodity derivative liability-current 1,991
Asset retirement obligations-current 1,965
Premium finance note 216
Warrant liability 19
Current lease obligation 182 114
Total current liabilities 13,233 2,742
Credit facility 12,500
Commodity derivative liability-noncurrent 6
Asset retirement obligations-noncurrent 12,091 1,461
Lease obligation-noncurrent 837 19
Other noncurrent liabilities 6 6
Total liabilities 38,673 4,228
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; unlimited shares authorized; 25,023,812 and 4,676,301 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 250 47
Additional paid-in capital 216,267 149,276
Accumulated deficit (136,196) (135,888)
Total shareholders’ equity 80,321 13,435
Total liabilities and shareholders’ equity $ 118,994 $ 17,663