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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 8,741 $ 11,799 $ 24,992 $ 34,151
Operating expenses:        
Lease operating expenses 3,999 5,204 12,147 12,349
Gathering, transportation and treating 167 119 419 356
Production taxes 596 817 1,654 2,302
Depreciation, depletion, accretion and amortization 2,868 2,528 8,181 6,985
Impairment of oil and natural gas properties 6,495 0 6,495 0
General and administrative expenses 2,824 2,708 8,964 8,296
Total operating expenses 16,949 11,376 37,860 30,288
Operating income (loss) (8,208) 423 (12,868) 3,863
Other income (expense):        
Commodity derivative gain (loss) (504) 4,025 704 (4,944)
Interest expense (306) (187) (864) (295)
Other income (expense), net 68 (122) 46 (168)
Total other income (expense) (742) 3,716 (114) (5,407)
Net income (loss) before income taxes (8,950) 4,139 (12,982) (1,544)
Income tax (expense) benefit 162 (29) 432 2,392
Net income (loss) $ (8,788) $ 4,110 $ (12,550) $ 848
Basic weighted shares outstanding (in shares) 25,428,874 24,390,193 25,265,662 24,548,385
Diluted weighted shares outstanding (in shares) 25,428,874 24,682,476 25,265,662 24,891,148
Basic earnings (loss) per share (in dollars per share) $ (0.35) $ 0.16 $ (0.5) $ 0.03
Diluted earnings (loss) per share (in dollars per share) $ (0.35) $ 0.16 $ (0.5) $ 0.03
Oil [Member]        
Revenue:        
Total revenue $ 7,811 $ 8,979 $ 21,935 $ 28,146
Natural Gas, Midstream [Member]        
Revenue:        
Total revenue $ 930 $ 2,820 $ 3,057 $ 6,005