v3.25.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (9,169) $ (11,511)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation, depletion, accretion, and amortization 2,237 4,360
Impairment of oil and natural gas properties 2,760 5,419
Loss on sale of assets 424 0
Total commodity derivatives losses, net 0 1,493
Commodity derivative settlements received 0 525
Loss (gain) on marketable equity securities (79) 5
Impairment and loss on real estate held for sale 0 11
Amortization of debt issuance costs 45 24
Stock-based compensation 1,034 675
Right-of-use asset amortization 85 81
Changes in operating assets and liabilities:    
Oil and natural gas sales receivable 731 434
Other assets 31 (372)
Accounts payable and accrued liabilities (3,022) (372)
Accrued compensation and benefits (804) (265)
Revenue and royalties payable (304) (34)
Payments on operating lease liability (96) (89)
Payments of asset retirement obligations 0 (58)
Net cash provided by (used in) operating activities (6,126) 326
Cash flows from investing activities:    
Acquisition of industrial gas properties (2,128) (2,213)
Property and equipment expenditures (3) (202)
Net proceeds from sale of oil and natural gas properties 144 247
Proceeds from sale of real estate assets 0 139
Net cash used in investing activities (4,509) (2,696)
Cash flows from financing activities:    
Borrowings on credit facility 0 2,000
Payments on insurance premium finance note 0 (62)
Shares withheld to settle tax withholding obligations for restricted stock awards (346) (132)
Repurchases of common stock (316) (564)
Related party share repurchase (1,574) 0
Proceeds from underwritten offering 11,877 0
Net cash provided by financing activities 9,641 1,242
Net decrease in cash and equivalents (995) (1,128)
Cash and equivalents, beginning of period 7,723 3,351
Cash and equivalents, end of period 6,728 2,223
Industrial Gas Properties [Member]    
Cash flows from investing activities:    
Capital expenditures (2,504) 0
Oil and Natural Gas Properties [Member]    
Cash flows from investing activities:    
Capital expenditures $ (18) $ (667)