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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

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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