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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Revenue $ 4,957 $ 8,741 $ 16,394 $ 24,992
Operating expenses:        
Lease operating expenses 3,060 3,999 9,322 12,147
Gathering, transportation and treating 43 167 170 419
Production taxes 298 596 1,008 1,654
Depreciation, depletion, accretion and amortization 2,032 2,868 6,392 8,181
Impairment of oil and natural gas properties 1,424 6,495 6,843 6,495
Acquisition transaction costs 368 0 368 0
General and administrative expenses 1,884 2,824 6,181 8,964
Total operating expenses 9,109 16,949 30,284 37,860
Operating income (loss) (4,152) (8,208) (13,890) (12,868)
Other income (expense):        
Commodity derivative gain (loss), net 2,030 (504) 537 704
Interest (expense), net (93) (306) (344) (864)
Other income (expense), net (52) 68 (67) 46
Total other income (expense) 1,885 (742) 126 (114)
Net income (loss) before income taxes (2,267) (8,950) (13,764) (12,982)
Income tax (expense) benefit 20 162 6 432
Net income (loss) $ (2,247) $ (8,788) $ (13,758) $ (12,550)
Basic and diluted weighted average shares outstanding (in shares) 28,052,356 25,428,874 26,304,200 25,265,662
Basic and diluted income (loss) per share (in dollars per share) $ (0.08) $ (0.35) $ (0.52) $ (0.5)
Oil Sales[Member]        
Revenue:        
Revenue $ 4,375 $ 7,811 $ 14,574 $ 21,935
Natural Gas, Midstream [Member]        
Revenue:        
Revenue $ 582 $ 930 $ 1,820 $ 3,057