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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and equivalents $ 2,421 $ 4,411
Oil and natural gas sales receivable 2,048 3,193
Marketable equity securities 107 107
Other current assets 1,160 558
Real estate assets held for sale, net of selling costs 175 175
Total current assets 5,911 8,444
Oil and natural gas properties under full cost method:    
Unevaluated properties 1,584 1,584
Evaluated properties 204,282 203,144
Less accumulated depreciation, depletion, amortization and impairment (98,825) (96,725)
Net oil and natural gas properties 107,041 108,003
Property and equipment, net 861 651
Right-of-use asset 813 868
Other assets 343 354
Total assets 114,969 118,320
Current liabilities:    
Accounts payable and accrued liabilities 7,641 7,832
Accrued compensation and benefits 357 1,111
Commodity derivative liability-current 369 1,694
Asset retirement obligations-current 657 668
Current lease obligation 174 189
Total current liabilities 9,198 11,494
Credit facility 12,000 12,000
Asset retirement obligations- noncurrent 15,091 14,774
Long-term lease obligation, net of current portion 750 794
Deferred tax liability 836 898
Other noncurrent liabilities 6 6
Total liabilities 37,881 39,966
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 25,234,672 and 25,023,812 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 252 250
Additional paid-in capital 217,265 216,690
Accumulated deficit (140,429) (138,586)
Total shareholders’ equity 77,088 78,354
Total liabilities and shareholders’ equity $ 114,969 $ 118,320