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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
SCHEDULE OF INCOME TAX PROVISIONS | The components of the income tax provision for the years ended December 31, 2022 and 2021 include the following: SCHEDULE OF INCOME TAX PROVISIONS
|  | 2022 |  |  | 2021 |
|  | (in thousands) |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State |  |  | 28 |  |  |  | - |
Total current income tax |  | $ | 28 |  |  | $ | - |
Deferred: |  |  |  |  |  |  |  |
Federal |  | $ | (1,765 | ) |  | $ | - |
State |  |  | (156 | ) |  |  | - |
Total deferred income taxes |  | $ | (1,921 | ) |  |  | - |
Total income tax provision |  | $ | (1,893 | ) |  | $ | - |
SCHEDULE OF EFFECTIVE INCOME TAX | SCHEDULE OF EFFECTIVE INCOME TAX
|  | 2022 |  |  | 2021 |
|  | (in thousands) |
Income tax benefit at federal statutory rate (21%) |  | $ | (600 | ) |  | $ | (372 | )
State income tax benefit, net of federal benefit |  |  | (95 | ) |  |  | (26 | )
Change in value of warrant |  |  | - |  |  |  | (16 | )
Percentage depletion carryover |  |  | - |  |  |  | (50 | )
Prior year true up |  |  | (509 | ) |  |  | (14 | )
Compensation and other |  |  | 187 |  |  |  | 2 |
Acquisition |  |  | 1,056 |  |  |  | - |
Change in valuation allowance |  |  | (1,932 | ) |  |  | 476 |
Income tax benefit |  | $ | (1,893 | ) |  | $ | - |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | The components of deferred tax assets and liabilities as of December 31, 2022 and 2021 are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | 2022 |  |  | 2021 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryover |  | $ | 8,443 |  |  | $ | 6,295 |
Property and equipment |  |  | - |  |  |  | 3,115 |
Percentage depletion and contribution carryovers |  |  | 2,004 |  |  |  | 1,947 |
Equity method investment and other |  |  | 249 |  |  |  | 225 |
Deferred compensation liability |  |  | 256 |  |  |  | 9 |
Asset retirement obligations |  |  | 3,581 |  |  |  | 327 |
Stock-based compensation |  |  | 439 |  |  |  | 190 |
Lease obligations |  |  | 224 |  |  |  | 30 |
Derivatives |  |  | 390 |  |  |  | - |
Total deferred tax assets |  |  | 15,586 |  |  |  | 12,138 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment |  |  | (6,107 | ) |  |  | - |
Lease assets |  |  | (198 | ) |  |  | (27 | )
Total deferred tax liabilities |  |  | (6,305 | ) |  |  | (27 | )
Net deferred tax assets |  |  | 9,281 |  |  |  | 12,111 |
Less valuation allowance |  |  | (10,179 | ) |  |  | (12,111 | )
Net deferred tax liability |  | $ | (898 | ) |  | $ | - |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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