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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and equivalents $ 10,502 $ 7,723
Oil and natural gas sales receivables 609 1,298
Marketable equity securities 65 131
Other current assets 915 572
Total current assets 12,091 9,724
Oil and natural gas under full cost method and industrial gas properties:    
Proved oil and natural gas properties 140,719 142,029
Less accumulated depreciation, depletion and amortization (113,585) (112,958)
Oil and natural gas properties, net 27,134 29,071
Unevaluated industrial gas properties, not subject to amortization 15,388 9,384
Oil, natural gas and industrial gas properties, net 42,522 38,455
Other Assets:    
Property and equipment, net 459 660
Right-of-use asset 486 528
Other assets 277 300
Total other assets 1,222 1,488
Total assets 55,835 49,667
Current liabilities:    
Accounts payable and accrued liabilities 2,759 5,466
Accrued compensation and benefits 103 850
Revenue and royalties payable 4,712 4,836
Asset retirement obligations - current 1,000 1,000
Current lease obligation 199 196
Total current liabilities 8,773 12,348
Noncurrent liabilities:    
Credit facility 0 0
Asset retirement obligations 13,139 13,083
Long-term lease obligation, net of current portion 365 415
Total noncurrent liabilities 13,504 13,498
Total liabilities 22,277 25,846
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 34,061,831 and 27,903,197 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 342 279
Additional paid-in capital 234,245 221,460
Accumulated deficit (201,029) (197,918)
Total shareholders’ equity 33,558 23,821
Total liabilities and shareholders’ equity $ 55,835 $ 49,667