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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and equivalents $ 1,974 $ 4,411
Oil and natural gas sales receivable 3,486 3,193
Marketable equity securities 161 107
Commodity derivative asset -current 58 0
Other current assets 817 558
Real estate assets held for sale, net of selling costs 175 175
Total current assets 6,671 8,444
Oil and natural gas properties under full cost method:    
Unevaluated properties 0 1,584
Evaluated properties 203,375 203,144
Less accumulated depreciation, depletion and amortization (103,919) (96,725)
Net oil and natural gas properties 99,456 108,003
Property and equipment, net 964 651
Right-of-use assets 733 868
Commodity derivative asset-noncurrent 16 0
Other assets 317 354
Total assets 108,157 118,320
Current liabilities:    
Accounts payable and accrued liabilities 8,836 7,832
Accrued compensation and benefits 817 1,111
Commodity derivative liability-current 422 1,694
Asset retirement obligations-current 1,850 668
Current lease obligation 179 189
Total current liabilities 12,104 11,494
Credit facility 12,000 12,000
Asset retirement obligations- noncurrent 16,777 14,774
Long-term lease obligation 658 794
Deferred tax liability 446 898
Other noncurrent liabilities 0 6
Total liabilities 41,985 39,966
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 25,506,570 and 25,023,812 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 255 250
Additional paid-in capital 218,245 216,690
Accumulated deficit (152,328) (138,586)
Total shareholders’ equity 66,172 78,354
Total liabilities and shareholders’ equity $ 108,157 $ 118,320