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Business Combination (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Combination [Abstract] |
Schedule of Acquisition in Purchase Price Allocation Depreciation and Amortization |
Purchase Price: |  |  |
Cash |  | $ | 31,074,127 |
Side Letter payable |  |  | 1,925,873 |
Promissory note to Sellers of Pogo Business |  |  | 15,000,000 |
10,000 HNRA Class A Common shares for Option Agreement |  |  | 67,700 |
200,000 HNRA Class A Common shares |  |  | 1,354,000 |
1,800,000 OpCo Class B Units |  |  | 12,186,000 |
1,500,000 OpCo Preferred Units |  |  | 21,220,594 |
Total purchase consideration |  | $ | 82,828,294 |
Purchase Price Allocation |  |  |  |
Cash |  | $ | 246,323 |
Accounts receivable |  |  | 3,986,559 |
Prepaid expenses |  |  | 368,371 |
Oil & gas reserves |  |  | 93,809,392 |
Derivative assets |  |  | 51,907 |
Accounts payable |  |  | (2,290,475 | )
Accrued liabilities and other |  |  | (1,244,633 | )
Revenue and royalties payable |  |  | (775,154 | )
Revenue and royalties payable, related parties |  |  | (1,199,420 | )
Short-term derivative liabilities |  |  | (27,569 | )
Deferred tax liabilities |  |  | (8,528,772 | )
Asset retirement obligations, net |  |  | (893,235 | )
Other liabilities |  |  | (675,000 | )
Net assets acquired |  | $ | 82,828,294 |
Schedule of the Pro Forma Consolidated Results of Operations | The pro forma results of operations are presented for informational purposes only and are not indicative of the results of operations that would have been achieved if the acquisitions had taken place on the dates noted above, or of results that may occur in the future.
|  | Three Months ended March 31, |
|  | 2024 |  |  | 2023 |
Revenue |  | $ | 3,283,099 |  |  | $ | 7,041,949 |
Operating loss |  |  | (3,087,609 | ) |  |  | (660,172 | )
Net loss |  |  | (5,286,852 | ) |  |  | (2,337,254 | )
Net loss per common share |  | $ | (1.01 | ) |  | $ | (0.45 | )
Weighted Average common shares outstanding |  |  | 5,235,131 |  |  |  | 5,235,131 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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