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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and equivalents $ 2,006 $ 3,351
Oil and natural gas sales receivables 2,088 2,336
Marketable equity securities 179 164
Commodity derivative asset -current 59 1,844
Other current assets 929 527
Real estate assets held for sale, net of selling costs 139 150
Total current assets 5,400 8,372
Oil and natural gas properties under full cost method:    
Unevaluated properties 0 0
Evaluated properties 171,339 176,679
Less accumulated depreciation, depletion and amortization (108,250) (106,504)
Net oil and natural gas properties 63,089 70,175
Other Assets:    
Property and equipment, net 842 899
Right-of-use asset 653 693
Other assets 286 305
Total assets 70,270 80,444
Current liabilities:    
Accounts payable and accrued liabilities 3,695 4,064
Accrued compensation and benefits 404 702
Revenue and royalties payable 4,937 4,857
Asset retirement obligations - current 1,273 1,273
Current lease obligation 186 182
Total current liabilities 10,495 11,078
Noncurrent liabilities:    
Credit facility 5,000 5,000
Asset retirement obligations - noncurrent 17,452 17,217
Long-term lease obligation, net of current portion 564 611
Deferred tax liability 16 16
Total liabilities 33,527 33,922
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 25,343,013 and 25,333,870 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 253 253
Additional paid-in capital 218,161 218,403
Accumulated deficit (181,671) (172,134)
Total shareholders’ equity 36,743 46,522
Total liabilities and shareholders’ equity $ 70,270 $ 80,444