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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (963) $ (1,770)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation, depletion, accretion, and amortization 9,607 589
Deferred income taxes (1,921)
Unrealized gain on commodity derivatives (1,458)
Amortization of debt issuance costs 45
Marketable equity securities loss (gain) 83 (10)
Real estate assets held for sale loss 75 151
Change in fair value of warrants (76)
Loss on related party debt conversion and settlement of legal costs 76
Stock-based compensation 3,017 549
Right of use asset amortization 205 90
Changes in operating assets and liabilities:    
Oil and natural gas sales receivable (2,261) (419)
Other assets 150 141
Accounts payable accrued liabilities 4,881 (125)
Accrued compensation and benefits (51) 850
Payments on operating lease liability (104) (92)
Payments of asset retirement obligations (407) (107)
Net cash provided by (used in) operating activities 10,898 (153)
Cash flows from investing activities:    
Acquisition of proved properties (12,641)
Expenditures for pending acquisition (2,221)
Oil and natural gas capital expenditures (6,208) (1,408)
Property and equipment expenditures (435) (196)
Proceeds from sale of oil and natural gas properties 2,335 40
Proceeds from sale of real estate 440
Payment received on notes receivable 20
Net cash used in investing activities: (16,949) (3,325)
Cash flows from financing activities:    
Issuance of common stock, net of fees 5,283
Borrowings on credit facility 15,200
Repayment of debt (6,547)
Payment of fees for credit facility (207)
Payments on insurance premium finance note (559) (199)
Proceeds from warrant exercise 195
Shares withheld to settle tax withholding obligations for restricted stock awards (307) (38)
Dividends paid (1,735)
Net cash provided by financing activities 6,040 5,046
Net (decrease) increase in cash and equivalents (11) 1,568
Cash and equivalents, beginning of year 4,422 2,854
Cash and equivalents, end of year $ 4,411 $ 4,422