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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and equivalents $ 1,155 $ 3,351
Oil and natural gas sales receivables 1,416 2,336
Marketable equity securities 107 164
Commodity derivative asset 0 1,844
Other current assets 708 527
Real estate assets held for sale, net of selling costs 0 150
Total current assets 3,386 8,372
Oil, natural gas and helium properties under full cost method:    
Proved oil and natural gas properties 163,554 176,679
Less accumulated depreciation, depletion and amortization (111,531) (106,504)
Net oil and natural gas properties 52,023 70,175
Unproved helium properties, not subject to amortization 6,931 0
Net oil, natural gas and helium properties 58,954 70,175
Other Assets:    
Property and equipment, net 725 899
Right-of-use asset 570 693
Other assets 441 305
Total assets 64,076 80,444
Current liabilities:    
Accounts payable and accrued liabilities 4,312 4,064
Accrued compensation and benefits 610 702
Revenue and royalties payable 4,769 4,857
Asset retirement obligations - current 1,000 1,273
Current lease obligation 193 182
Total current liabilities 10,884 11,078
Noncurrent liabilities:    
Credit facility 0 5,000
Asset retirement obligations 16,991 17,217
Long-term lease obligation, net of current portion 466 611
Deferred tax liability 1 16
Total liabilities 28,342 33,922
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 28,035,613 and 25,333,870 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 280 253
Additional paid-in capital 221,346 218,403
Accumulated deficit (185,892) (172,134)
Total shareholders’ equity 35,734 46,522
Total liabilities and shareholders’ equity $ 64,076 $ 80,444