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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and equivalents $ 4,411 $ 4,422
Oil and natural gas sales receivable 3,193 933
Marketable equity securities 107 191
Other current assets 558 179
Real estate assets held for sale, net of selling costs 175 250
Total current assets 8,444 5,975
Oil and natural gas properties under full cost method:    
Unevaluated properties 1,584 1,588
Evaluated properties 203,144 95,088
Less accumulated depreciation, depletion, amortization and impairment (96,725) (88,195)
Net oil and natural gas properties 108,003 8,481
Other assets:    
Pending acquisition 2,767
Property and equipment, net 651 188
Right of use asset 868 120
Other assets 354 132
Total other assets 1,873 3,207
Total assets 118,320 17,663
Current liabilities:    
Accounts payable and accrued liabilities 7,832 1,447
Accrued compensation and benefits 1,111 1,162
Commodity derivative liability 1,694
Asset retirement obligations-current 668
Warrant liability 19
Current lease obligation 189 114
Total current liabilities 11,494 2,742
Noncurrent liabilities:    
Credit facility 12,000
Asset retirement obligations 14,774 1,461
Long-term lease obligation, net of current portion 794 19
Deferred tax liability 898  
Other noncurrent liabilities 6 6
Total noncurrent liabilities 28,472 1,486
Total liabilities 39,966 4,228
Commitments and contingencies (Note 9)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 and unlimited shares authorized; 25,023,812 and 4,676,301 shares issued and outstanding as of December 31, 2022 and 2021, respectively 250 47
Additional paid-in capital 216,690 149,276
Accumulated deficit (138,586) (135,888)
Total shareholders’ equity 78,354 13,435
Total liabilities and shareholders’ equity $ 118,320 $ 17,663