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ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2022

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

	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.