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SUMMARY OF AMOUNTS INCURRED FOR ASSETS ACQUIRED (Details) - USD ($)
$ in Thousands
3 Months Ended
Jul. 27, 2022
Jan. 05, 2022
Mar. 31, 2022
Business Acquisition [Line Items]      
Value of 19,905,736 shares issued     $ 64,694
Sellers [Member]      
Business Acquisition [Line Items]      
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  
Proved oil and gas properties [1]   87,672  
Vehicles   165  
Deposit account   169  
Total allocation to acquired assets   $ 88,006  
ETXEnergy LLC [Member]      
Business Acquisition [Line Items]      
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    
Proved oil and gas properties [2] $ 12,959    
[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.
[2] “Bbl” refers to one stock tank barrel, or 42 U.S. gallons liquid volume, used in this report in reference to crude oil or other liquid hydrocarbons.