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Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Schedule of Capitalized Oil and Gas Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022
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Unproved leasehold costs | [1] | $ 0 | $ 1,584
Evaluated properties in full cost pool |  | 176,679 | 203,144
Less accumulated depletion and ceiling test impairment (2) (3) | [2],[3] | (106,504) | (96,725)
Net capitalized costs |  | $ 70,175 | $ 108,003
[1] | Unevaluated oil and natural gas properties consist of leasehold costs that are excluded from the depletion, depreciation and amortization calculation and the ceiling test until a determination about the existence of proved reserves can be completed. Unevaluated oil and natural gas properties consisted of unproved lease acquisition costs and costs paid to evaluate potential acquisition prospects of $1.6 million at December 31, 2022. On a quarterly basis, management reviews market conditions and other changes in circumstances related to the Company’s unevaluated properties and transfers the costs to evaluated properties within the full cost pool as warranted. During 2023, the unevaluated property balance was transferred to evaluated properties due to the Company evaluating its use of capital relative to its portfolio and strategic initiatives and determining that it no longer plans to fund development of its unevaluated acreage.
[2] | Depletion expense was $9.8 million ($15.66 per BOE) and $8.5 million ($13.75 per BOE) for the years ended December 31, 2023 and 2022, respectively.
[3] | The Company incurred ceiling test write-downs of $26.7 million and $0 for the years ended December 31, 2023 and 2022, respectively. Under the full-cost method of accounting, the net book value of proved oil and gas properties, less related deferred income taxes, may not exceed a calculated “ceiling.” The ceiling limitation is the estimated after-tax future net cash flows from proved oil and gas reserves. Estimated future net cash flows are calculated using the unweighted arithmetic average of commodity prices in effect on the first day of each of the previous 12 months, adjusted for location and quality differentials, held flat for the life of the production (except where prices are defined by contractual arrangements), less estimated operating costs, production taxes and future development costs, all discounted at 10 percent per annum. Future cash outflows associated with settling accrued asset retirement obligations are excluded from the calculation.

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- Definition Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-13 + Details
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- Definition Capitalized costs of unproven properties that include fee ownership or a lease, concession, or other interest representing the right to extract oil or gas subject to such terms as may be imposed by the conveyance of that interest. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//932/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-13 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-14 + Details
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- Definition Net amount of capitalized costs relating to oil and gas producing activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-13 + Details
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- Definition Capitalized costs which include those incurred to (1) to drill and equip those exploratory wells and exploratory-type stratigraphic test wells that have found proved reserves and (2) obtain access to proved reserves and provide facilities for extracting, treating, gathering, storing the oil and gas, including the drilling and equipping of development wells and development-type stratigraphic wells and service wells. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-13 + Details
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