v3.25.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and equivalents $ 6,728 $ 7,723
Oil and natural gas sales receivables 567 1,298
Marketable equity securities 210 131
Other current assets 710 572
Total current assets 8,215 9,724
Oil and natural gas under full cost method and industrial gas properties:    
Proved oil and natural gas properties 137,114 142,029
Less accumulated depreciation, depletion and amortization (114,811) (112,958)
Oil and natural gas properties, net 22,303 29,071
Unevaluated industrial gas properties, not subject to amortization 19,415 9,384
Oil, natural gas and industrial gas properties, net 41,718 38,455
Other Assets:    
Property and equipment, net 411 660
Right-of-use asset 443 528
Other assets 206 300
Total other assets 1,060 1,488
Total assets 50,993 49,667
Current liabilities:    
Accounts payable and accrued liabilities 5,186 5,466
Accrued compensation and benefits 46 850
Revenue and royalties payable 4,532 4,836
Asset retirement obligations - current 800 1,000
Current lease obligation 203 196
Total current liabilities 10,767 12,348
Noncurrent liabilities:    
Asset retirement obligations 11,954 13,083
Long-term lease obligation, net of current portion 312 415
Total noncurrent liabilities 12,266 13,498
Total liabilities 23,033 25,846
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 34,021,820 and 27,903,197 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 342 279
Additional paid-in capital 234,705 221,460
Accumulated deficit (207,087) (197,918)
Total shareholders’ equity 27,960 23,821
Total liabilities and shareholders’ equity $ 50,993 $ 49,667