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v3.24.1

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block] |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Proved property acquisition |  | $ | - |  |  | $ | 102,223 |
Development (1) |  |  | 5,149 |  |  |  | 7,808 |
Exploration |  |  | - |  |  |  | - |
Total |  | $ | 5,149 |  |  | $ | 110,031 |
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block] |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Oil and Natural Gas Properties: |  |  |  |  |  |  |  |
Unevaluated properties (1): |  |  |  |  |  |  |  |
Unproved leasehold costs |  | $ | - |  |  | $ | 1,584 |
Evaluated properties in full cost pool |  |  | 176,679 |  |  |  | 203,144 |
Less accumulated depletion and ceiling test impairment (2) (3) |  |  | (106,504 | ) |  |  | (96,725 | )
Net capitalized costs |  | $ | 70,175 |  |  | $ | 108,003 |
Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block] |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Oil and natural gas sales |  | $ | 32,316 |  |  | $ | 44,552 |
Lease operating expense |  |  | (15,254 | ) |  |  | (16,667 | )
Gathering, treating, and transportation costs |  |  | (557 | ) |  |  | (573 | )
Production taxes |  |  | (2,107 | ) |  |  | (3,010 | )
Depletion |  |  | (9,779 | ) |  |  | (8,530 | )
Income tax benefit |  |  | 891 |  |  |  | 1,893 |
Results of operations from oil and natural gas producing activities |  | $ | 5,510 |  |  | $ | 17,665 |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block] |
|  | 2023 |  |  | 2022 |
|  | Oil |  |  | Gas |  |  | Oil |  |  | Gas |
|  | (bbls) |  |  | (mcfe) (1) |  |  | (bbls) |  |  | (mcfe) (1) |
Total proved reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve quantities, beginning of year |  |  | 5,140,090 |  |  |  | 16,348,264 |  |  |  | 1,021,620 |  |  |  | 1,938,048 |
Revisions of previous estimates |  |  | (822,786 | ) |  |  | (3,421,047 | ) |  |  | (153,434 | ) |  |  | 4,066,007 |
Discoveries and extensions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Purchases of minerals in place |  |  | - |  |  |  | - |  |  |  | 4,777,193 |  |  |  | 11,753,283 |
Sale of minerals in place |  |  | (742,798 | ) |  |  | (1,448,181 | ) |  |  | (108,833 | ) |  |  | (64,338 | )
Production |  |  | (391,645 | ) |  |  | (1,396,650 | ) |  |  | (396,456 | ) |  |  | (1,344,736 | )
Reserve quantities, end of year |  |  | 3,182,861 |  |  |  | 10,082,386 |  |  |  | 5,140,090 |  |  |  | 16,348,264 |
Oil and Gas, Average Sale Price and Production Cost [Table Text Block] |
|  | 2023 |  |  | 2022 |
Oil per Bbl |  | $ | 78.22 |  |  | $ | 93.67 |
Gas per Mmbtu |  | $ | 2.64 |  |  | $ | 6.36 |
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block] |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Future cash inflows |  | $ | 265,529 |  |  | $ | 562,545 |
Future cash outflows: |  |  |  |  |  |  |  |
Production costs |  |  | (142,737 | ) |  |  | (227,365 | )
Development costs |  |  | (37,730 | ) |  |  | (12,716 | )
Income taxes |  |  | (3,940 | ) |  |  | (48,833 | )
Future net cash flows |  |  | 81,122 |  |  |  | 273,631 |
10% annual discount factor |  |  | (20,840 | ) |  |  | (129,843 | )
Standardized measure of discounted future net cash flows |  | $ | 60,282 |  |  | $ | 143,788 |
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block] |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Standardized measure, beginning of year |  | $ | 143,788 |  |  | $ | 19,167 |
Sales of oil and natural gas, net of production costs |  |  | (14,398 | ) |  |  | (24,302 | )
Net changes in prices and production costs |  |  | (66,494 | ) |  |  | 52,053 |
Changes in estimated future development costs |  |  | (4,834 | ) |  |  | (2,860 | )
Extensions and discoveries |  |  | - |  |  |  | - |
Purchases of minerals in place |  |  | - |  |  |  | 116,673 |
Sale of minerals in place |  |  | (16,055 | ) |  |  | (1,606 | )
Revisions in previous quantity estimates |  |  | (22,724 | ) |  |  | 12,662 |
Previously estimated development costs incurred |  |  | 215 |  |  |  | - |
Net changes in income taxes |  |  | 25,874 |  |  |  | (27,021 | )
Accretion of discount |  |  | 14,759 |  |  |  | 10,170 |
Changes in timing and other |  |  | 151 |  |  |  | (11,148 | )
Standardized measure, end of year |  | $ | 60,282 |  |  | $ | 143,788 |

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