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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and equivalents $ 1,415 $ 7,723
Oil and natural gas sales receivables 490 1,298
Marketable equity securities 310 131
Other current assets 584 572
Total current assets 2,799 9,724
Oil and natural gas properties under full cost method and industrial gas properties:    
Proved oil and natural gas properties 135,552 142,029
Less accumulated depreciation, depletion and amortization (115,043) (112,958)
Oil and natural gas properties, net 20,509 29,071
Unevaluated industrial gas properties, not subject to amortization 22,126 9,384
Oil, natural gas and industrial gas properties, net 42,635 38,455
Other Assets:    
Property and equipment, net 367 660
Right-of-use asset 400 528
Other assets 296 300
Total other assets 1,063 1,488
Total assets 46,497 49,667
Current liabilities:    
Accounts payable and accrued liabilities 3,977 5,466
Accrued compensation and benefits 59 850
Revenue and royalties payable 3,926 4,836
Asset retirement obligations - current 300 1,000
Current lease obligation 206 196
Total current liabilities 8,468 12,348
Noncurrent liabilities:    
Asset retirement obligations 12,731 13,083
Long-term lease obligation, net of current portion 259 415
Total noncurrent liabilities 12,990 13,498
Total liabilities 21,458 25,846
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 34,143,549 and 27,903,197 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 343 279
Additional paid-in capital 235,124 221,460
Accumulated deficit (210,428) (197,918)
Total shareholders’ equity 25,039 23,821
Total liabilities and shareholders’ equity $ 46,497 $ 49,667