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ACQUISITIONS (Tables)
 3 Months Ended
Mar. 31, 2023
Seller [Member]  
Business Acquisition [Line Items]  
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) Included in the above purchase price adjustments is settlement for oil in temporary storage at the lease in tank batteries. The Company does not separately account for oil in temporary storage until the oil is sold and title transfers to the purchaser. Consistent with the Company’s accounting policy and reporting of similar transactions this amount was recorded within Evaluated Properties on the Company’s condensed 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  $12,959