ADDITIONAL FINANCIAL STATEMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

ADDITIONAL FINANCIAL STATEMENT INFORMATION

Schedule of additional financial statement information, balance sheet

Certain balance sheet amounts are comprised of the following (in thousands):


	December 31, 2022		December 31, 2021
Accounts receivable, net:
Oil, natural gas and natural gas liquids revenues	$	33,980	$	34,110
Joint interest accounts		3,201		2,503
Other		793		193
	$	37,974	$	36,806
Prepaids and other:
Prepaids	$	715	$	975
Funds in escrow		341		390
Other		75		1
	$	1,131	$	1,366
Other assets (Non-current):
Investment in unconsolidated affiliate⁽¹⁾	$	1,561	$	—
Oil, natural gas and natural gas liquids revenues		—		1,010
Funds in escrow		527		1,227
Other		739		33
	$	2,827	$	2,270
Accounts payable and accrued liabilities:
Trade payables	$	42,919	$	25,315
Accrued oil and natural gas capital costs		19,911		4,881
Revenues and royalties payable		26,759		22,763
Accrued interest expense		160		42
Accrued employee compensation		2,300		3,735
Accrued lease operating expenses		8,005		6,090
Other		41		—
	$	100,095	$	62,826

(1)

In May 2022, we entered into a joint venture with Caracara Services, LLC (“Caracara”) to develop an acid gas treatment facility to remove hydrogen sulfide and carbon dioxide from our produced natural gas. Caracara will provide all necessary capital for the construction of the treatment facility. We contributed certain full cost pool assets to this related party joint venture in a non-cash exchange for a retained 5% equity interest in BAT, an unconsolidated subsidiary. For accounting purposes, since we do not control the key activities (e.g. operating and maintaining the facility) which most significantly impact economic performance nor do we have the obligation to absorb losses or the right to receive benefits that could potentially be significant, we are not the primary beneficiary of BAT. Accordingly, we account for our investment in BAT (a related party) using the equity method of accounting based on our ability to exercise significant influence, but not control, over the key activities of the joint venture. For more information related to this joint venture, see Note 9, Commitments and Contingencies.