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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
Seller [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 |  | $ | 1,250 |
Value of 19,905,736 shares issued |  |  | 64,694 |
Purchase price adjustments |  |  | 487 |
Transaction costs |  |  | 1,267 |
Total consideration paid |  |  | 67,698 |
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 |  |  | 2,819 |
Total liabilities assumed |  |  | 20,308 |
Total consideration paid and liabilities assumed |  | $ | 88,006 |
Allocation to acquired assets: |  |  |  |
Proved oil and gas properties(1) |  |  | 87,672 |
Vehicles |  |  | 165 |
Deposit account |  |  | 169 |
Total allocation to acquired assets |  | $ | 88,006 |
(1) | Amount includes $1,286 of acquired oil in tank batteries. Consistent with the Company’s historical accounting policy and reporting of similar transactions, oil in tank batteries acquired in the Acquisition were recorded within Evaluated Properties on the Company’s consolidated balance sheet.
ETXEnergy LLC [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 |  | $ | 11,875 |
Purchase price adjustments |  |  | (1,048 | )
Transaction costs |  |  | 63 |
Total consideration paid |  |  | 10,890 |
Suspense accounts assumed |  |  | 380 |
Asset retirement obligations assumed |  |  | 1,689 |
Total liabilities assumed |  |  | 2,069 |
Total consideration paid and liabilities assumed |  | $ | 12,959 |
Allocation to acquired assets: |  |  |  |
Proved oil and gas properties(1) |  | $ | 12,959 |
(1) | Amount includes $557 of acquired oil in tank batteries. Consistent with the Company’s historical accounting policy and reporting of similar transactions, oil in tank batteries acquired in the acquisition of the East Texas Assets were recorded within Evaluated Properties on the Company’s consolidated balance sheet.

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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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