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Note 7 - Commodity Derivatices (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Notes Tables |
Schedule of Derivative Instruments [Table Text Block] |
|  | Fixed Price Swaps |
|  | Quantity |  |  | Weighted |
|  | Crude oil |  |  | Average |
Commodity/ Index/ Maturity Period |  | (Bbls)(1) |  |  | Price |
NYMEX WTI |  |  |  |  |  |  |  |
Crude Oil 2024 Contracts: |  |  |  |  |  |  |  |
Second quarter 2024 |  |  | 48,600 |  |  | $ | 81.76 |
Third quarter 2024 |  |  | 45,000 |  |  | $ | 79.80 |
Fourth quarter 2024 |  |  | 40,720 |  |  | $ | 78.15 |
Total 2024 |  |  | 134,320 |  |  | $ | 80.01 |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] |
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Current assets |  | $ | 59 |  |  | $ | 1,844 |
Total derivative assets |  | $ | 59 |  |  | $ | 1,844 |
Derivative Instruments, Gain (Loss) [Table Text Block] |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Commodity derivative settlement gain (loss): |  |  |  |  |  |  |  |
Oil contracts |  | $ | 404 |  |  | $ | (378 | )
Gas contracts |  |  | - |  |  |  | (28 | )
Total commodity derivative settlement gain (loss) |  | $ | 404 |  |  | $ | (406 | )
Total net commodity derivative gain (loss): |  |  |  |  |  |  |  |
Oil contracts |  | $ | (1,381 | ) |  | $ | 859 |
Gas contracts |  |  | - |  |  |  | 60 |
Total net commodity derivative gain (loss) |  | $ | (1,381 | ) |  | $ | 919 |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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