Cover [Abstract]
Entity Registrant Name
Entity Central Index Key
Document Type
Amendment Flag
Current Fiscal Year End Date
Entity Small Business
Entity Shell Company
Entity Emerging Growth Company
Entity Current Reporting Status
Document Period End Date
Entity Filer Category
Document Fiscal Period Focus
Document Fiscal Year Focus
Entity Common Stock Shares Outstanding
Entity File Number
Entity Incorporation State Country Code
Entity Tax Identification Number
Entity Address Address Line 1
Entity Address Address Line 2
Entity Address City Or Town
Entity Address State Or Province
Entity Address Postal Zip Code
City Area Code
Local Phone Number
Security 12b Title
Trading Symbol
Security Exchange Name
Document Quarterly Report
Document Transition Report
Entity Interactive Data Current
CONSOLIDATED BALANCE SHEETS
Assets
Current assets:
Cash
Restricted cash
Accounts receivable - oil and gas
Inventory
Derivative contract assets, current
Prepaid expenses and other current assets
Total current assets
[Assets, Current]
Oil and gas properties:
Oil and gas properties, subject to amortization, net
Oil and gas properties, not subject to amortization, net
Total oil and gas properties, net
[Mineral Properties, Net]
Derivative contract assets
Operating lease - right-of-use asset
Other assets
Total assets
[Assets]
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable
Accrued expenses
Revenue payable
Operating lease liabilities - current
Derivative contract liabilities - current
Deposit on sale of oil and gas properties
Asset retirement obligations - current
Total current liabilities
[Liabilities, Current]
Long-term liabilities:
Revolving credit facility
Operating lease liabilities, net of current portion
Derivative contract liabilities
Asset retirement obligations, net of current portion
Deferred income taxes
Other long-term liabilities
Total liabilities
[Liabilities]
Commitments and contingencies (Note 12)
Shareholders' equity:
Series A preferred stock, $0.001 par value, 200,000,000 shares authorized; -0- and 17,013,637 shares issued and outstanding, respectively
Common stock, $0.001 par value, 200,000,000 shares authorized; 13,290,902 and 4,797,239 shares issued and outstanding, respectively
Additional paid-in capital
Accumulated deficit
Total shareholders' equity
[Equity, Attributable to Parent]
Total liabilities and shareholders' equity
[Liabilities and Equity]
Statement [Table]
Statement [Line Items]
Class of Stock [Axis]
Series A Preferred Stock [Member]
Preferred Stock, Par Value
Preferred Stock, Shares Authorized
Preferred Stock, Shares Issued
Preferred Stock, Shares Outstanding
Common Stock, Par Value
Common Stock, Shares Authorized
Common Stock, Shares Issued
Common Stock, Shares Outstanding
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Revenue:
Oil and gas sales
Operating expenses:
Lease operating costs
Exploration expense
Selling, general and administrative expense
Depreciation, depletion, amortization and accretion
Impairment of oil and gas properties
Total operating expenses
[Operating Expenses]
Gain on sale of oil and gas properties
Note receivable - credit loss
Operating income (loss)
[Operating Income (Loss)]
Other income (expense):
Interest expense
[Interest Expense, Operating and Nonoperating]
Interest income
Net income (loss) on derivative contracts
Other income (expense)
Total other income (expense)
[Nonoperating Income (Expense)]
Income (loss) before income taxes
[Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest]
Income tax benefit (expense)
[Income Tax Expense (Benefit)]
Net income (loss)
[Net Income (Loss) Attributable to Parent]
Earnings (loss) per common share:
Basic
Diluted
Weighted average number of common shares outstanding:
Basic
[Weighted Average Number of Shares Outstanding, Basic]
Diluted
[Weighted Average Number of Shares Outstanding, Diluted]
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Cash Flows From Operating Activities:
Net income (loss)
[Net Income (Loss), Including Portion Attributable to Noncontrolling Interest]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion
Impairment of oil and gas properties
Note receivable - credit loss
[Note receivable - credit loss]
Amortization of right-of-use asset
Amortization of deferred financing costs
Share-based compensation expense
Net loss on derivative contracts
[Net loss on derivative contracts]
Cash (paid) received for derivative settlements, net
[Cash (paid) received for derivative settlements, net]
Deferred income taxes
[Deferred income taxes]
Gain on sale of oil and gas properties
[Gain on sale of oil and gas properties]
Changes in operating assets and liabilities:
Accounts receivable - oil and gas
[Increase (Decrease) in Accounts Receivable]
Note receivable accrued interest
[Increase (Decrease) in Accrued Interest Receivable, Net]
Inventory
[Increase (Decrease) in Inventories]
Prepaid expenses and other current assets
[Increase (Decrease) in Prepaid Expense and Other Assets]
Accounts payable
[Increase (Decrease) in Accounts Payable]
Accrued expenses
[Increase (Decrease) in Accrued Liabilities]
Revenue payable
[Revenue payable]
Income tax payable
Other liabilities
Net cash provided by operating activities
[Cash Provided by (Used in) Operating Activity, Including Discontinued Operation]
Cash Flows From Investing Activities:
Cash paid for drilling and completion costs
[Payments to Explore and Develop Oil and Gas Properties]
Cash received for sale of oil and gas property
Net cash (used in) provided by investing activities
[Cash Provided by (Used in) Investing Activity, Including Discontinued Operation]
Cash Flows From Financing Activities:
Proceeds from credit facility
Repayment of credit facility
[Repayments of Lines of Credit]
Reverse stock split costs
[Reverse stock split costs]
Proceeds from issuance of shares, net of offering costs
Net cash (used in) provided by financing activities
[Cash Provided by (Used in) Financing Activity, Including Discontinued Operation]
Net increase in cash and restricted cash
[Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Excluding Exchange Rate Effect, Including Discontinued Operation]
Cash and restricted cash at beginning of period
[Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation]
Cash and restricted cash at end of period
Supplemental Disclosure of Cash Flow Information
Cash paid for:
Interest
Income taxes
Noncash investing and financing activities:
Change in accrued oil and gas development costs
Changes in estimates of asset retirement costs, net
Conversion of preferred stock into common stock
Issuance of restricted common stock
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited)
Equity Components [Axis]
Series A Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Balance, shares
[Shares, Issued]
Balance, amount
Issuance of restricted common stock, shares
Issuance of restricted common stock, amount
Stock-based compensation
Net income (loss)
Restricted common stock surrendered for tax withholding, shares
Restricted common stock surrendered for tax withholding, amount
Preferred conversion, shares
Preferred conversion, amount
Reduction for fractional shares in reverse stock split, shares
Reduction for fractional shares in reverse stock split, amount
Restricted common stock forfeitures, shares
Restricted common stock forfeitures, amount
Balance, shares
Balance, amount
Insider Trading Arrangement [Line Items]
Rule 10b5-1 Arrangement Adopted [Flag]
Rule 10b5-1 Arrangement Terminated [Flag]
Non Rule 10b5-1 Arrangement Adopted [Flag]
Non Rule 10b5-1 Arrangement Terminated [Flag]
Material Terms of Trading Arrangement [Text Block]
BASIS OF PRESENTATION
BASIS OF PRESENTATION
Basis of Presentation and Significant Accounting Policies [Text Block]
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS
Business Description and Basis of Presentation [Text Block]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Significant Accounting Policies [Text Block]
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue from Contract with Customer [Text Block]
CASH
CASH
Cash and Cash Equivalents Disclosure [Text Block]
OIL AND GAS PROPERTIES
OIL AND GAS PROPERTIES
Oil and Gas, Property and Equipment [Text Block]
MERGER ACQUISITION
MERGER ACQUISITION
Mergers, Acquisitions and Dispositions Disclosures [Text Block]
REVOLVING CREDIT FACILITY
REVOLVING CREDIT FACILITY
[REVOLVING CREDIT FACILITY]
DERIVATIVES
DERIVATIVES
Derivatives and Fair Value [Text Block]
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS
Fair Value Disclosures [Text Block]
ASSET RETIREMENT OBLIGATION
ASSET RETIREMENT OBLIGATION
Asset Retirement Obligation Disclosure [Text Block]
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Commitments and Contingencies Disclosure [Text Block]
SHAREHOLDERS EQUITY
SHAREHOLDERS EQUITY
Equity [Text Block]
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION
Shareholders' Equity and Share-Based Payments [Text Block]
EARNINGS (LOSS) PER COMMON SHARE
Earnings Per Share [Text Block]
INCOME TAXES
INCOME TAXES
Income Tax Disclosure [Text Block]
SEGMENT INFORMATION
SEGMENT INFORMATION
Segment Reporting Disclosure [Text Block]
SUBSEQUENT EVENTS
SUBSEQUENT EVENT
New Accounting Pronouncements
Subsequent Events
Schedule of Disaggregation of Revenue from Contract with Customers
Schedule of Cash And Restricted Cash
Schedule Oil and Gas Properties
Schedule of Fair Value of Acquired Assets and Assumed Liabilities
Schedule of Unaudited pro forma financial information
Schedule of Derivative Contracts
Schedule of Open Crude Oil and Natural Gas Derivative Contracts
Schedule of Fair Value of Derivatives
Schedule of Asset Retirement Obligation
Schedule of Supplemental Cash Flow Information Related to Lease
Schedule of Supplemental Balance Sheet Information Related to Lease
Ranges for the assumption of performance based restricted units
Summary of performance based restricted stock unit
Schedule of option activity
Schedule of Nonvested RSUs
Schedule of Stock Option Activity
Shedule of Earnings (Loss) Per Share
Sale of Stock [Axis]
Reverse stock split [Member]
Reverse stock split
Common stock, par value
Common stock, shares issued
Common stock, shares outstanding
Statement Business Segments Axis
Oil Sales
Natural Gas Sales
Natural Gas Liquids Sales
Total revenue from customers
Cash
[Cash]
Restricted cash
Restricted cash included in other assets
Total cash and restricted cash
Statement Geographical Axis
Additions
Disposals
Transfers
Oil and gas properties, subject to amortization
Oil and gas properties, subject to amortization
Oil and gas properties, not subject to amortization
Asset retirement costs
Accumulated depreciation, depletion and amortization
[Oil and Gas, Successful Efforts Method, Property and Equipment, Accumulated Impairment, Depreciation, Depletion, and Amortization]
Accumulated impairment
[Oil and Gas, Successful Efforts Method, Property and Equipment, Accumulated Impairment]
Total oil and gas properties, net
Total oil and gas properties, net
Capital costs for recently completed wells addition
Impairment of oil and gas properties
[Impairment of oil and gas properties]
Depreciation, depletion and amortization
Consideration:
Series A convertible preferred stock
Fair value per share of preferred stock
Common stock consideration, net of estimated liabilities assumed by PEDEVCO
Cash paid to settle North Peak Debt
Total consideration
Fair value of assets acquired:
Cash, cash equivalents and restricted cash
Accounts receivable
Commodity derivative, asset - current
Prepaid expenses and other current assets
[Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current]
Evaluated oil and gas properties
Unevaluated oil and gas properties
Asset retirement costs
[Asset retirement costs]
Other long-term assets
Total assets acquired
Fair value of liabilities assumed:
Accounts payable and accrued liabilities
Asset retirement obligations - current
[Asset retirement obligations - current]
Asset retirement obligations - long-term
Other long-term liabilities
[Business Combination, Recognized Liability Assumed, Other Liability, Noncurrent]
Total liabilities assumed
Total identifiable net assets acquired
Pro forma revenues
Pro forma net income (loss)
Plan Name [Axis]
Related and Nonrelated Parties [Axis]
Title and Position [Axis]
Bottom
Two director [Member]
Top
Two director [Member]
[Two director [Member]]
One Director [Member]
Three director [Member]
Juniper Shareholder [Member]
Common stock, shares outstanding
[Common Stock, Other Shares, Outstanding]
Common stock, shares issued
Series A preferred stock converted shares
Aggregate shares of Series A Preferred Stock per share, post-reverse stock split basis
Aggregate fair value of the consideration paid
Consideration paid in cash
Credit borrowing
Debt issuance costs
Aggregate shares of Series A Preferred Stock
Aggregate shares of Series A Preferred Stock per share
Gross proceeds of Series A Preferred Stock
Reduction in cash consideration
Underwritten offerings
Ownership percentage
Short-Term Debt, Type [Axis]
Product and Service [Axis]
Amended and Restated Credit Agreement [Member]
Bottom [Member]
Top [Member]
Oil and Gas [Member]
Outstanding Balance
[Outstanding Balance]
Outstanding Balance
Company paid amount
Effective interest rate
Commitment fees
Borrowings
Contractual interest
Total interest expense
Amortization of deferred financing costs
[Amortization of Debt Issuance Costs]
Maximum revolving credit commitment
Elected commitments
Hedge coverage
Realized gain (loss) on derivative contracts
Unrealized gain (loss) on derivative contracts
Net income (loss) on derivative contracts
[Net income (loss) on derivative contracts]
Q3 2026 [Member]
Q4 2026 [Member]
FY 2026 [Member]
Q1 2027 [Member]
Q2 2027 [Member]
Q3 2027 [Member]
Q4 2027 [Member]
FY 2027 [Member]
Q1 2028 [Member]
Q2 2028 [Member]
Q3 2028 [Member]
Q4 2028 [Member]
FY 2028 [Member]
Producer three way collars volume, value
Producer Three-Way Collars Put Sold / Boe
Producer Three-Way Collars Put Bought / Boe
Producer Three-Way Collars Call Sold / Boe
Participating Three-Way Collars Volume, value
Participating Three-Way Put Bought / Boe
Participating Three-Way Call Bought / Boe
Participating Three-Way Call Sold / Boe
Natural Gas Swaps Volume (Mcf), Value
Natural Gas Swaps Avg. Price ($/Mcf), Per share
Natural Gas Costless Collars Volume (mcf), Value
Natural Gas Costless Collars Floor Price ($/mcf), Per share
Natural Gas Costless Collars Ceiling Price ($/mcf), Per share
Crude oil Swaps Volume (Boe), Value
Crude Oil Swaps Avg. Price ($/Boe), Per share
Crude oil Costless Collars Volume (Boe), Value
Crude Oil Costless Collars Floor Price ($/Boe), Per share
Crude Oil Costless Collars Ceiling Price ($/Boe), Per share
Fair Value Hierarchy and NAV [Axis]
Fair value Level 1 [Member]
Fair value Level 2 [Member]
Fair value Level 3 [Member]
Derivative contract assets
[Derivative Asset]
Derivative contract liabilities
[Derivative Liability]
Balance at the beginning of the period
[Asset Retirement Obligation]
Accretion expense
Liabilities settled
[Asset Retirement Obligation, Liabilities Settled]
Changes in estimates, net
Balance at end of period
Less: current portion
Asset retirement obligation - long-term portion
Consolidated Entities Axis
RAZO
Plugging and abandonment costs related to SFO
Minimum payment per month
Assets rate per barrel
Cash paid for amounts included in the measurement of lease liabilities
Operating lease - right-of-use asset
Operating lease liabilities - current
Operating lease liabilities - long-term
Total lease liability
Weighted-average discount rate
Previous Expiry of lease date
Expiry of lease date
Monthly rent
Deposit on sale of oil and gas property
Weighted-average remaining lease term
Description of lease hold commitments
Related Party Transaction [Axis]
Series A Convertible Preferred Stock [Member]
Century Oil and Gas Holdings, LLC [Member]
PIPE Investors [Member]
PIPE Financing
Reverse stock split ratio
Proceeds from related party
Equity instrument converted in to common stock shares
Converted common stock shares issued
Preferred stock shares converted
Common stock shares converted
Preferred stock shares purchased
Price per share
Description of investors
Price per share after post-reverse stock split basis
Award Type [Axis]
Restricted Stock Units RSU [Member]
Restricted Stock Awards [Member]
Performance-Based Restricted Stock Units [Member]
Number of nonvested granted
Number of nonvested vested
[Number of nonvested vested]
Number of nonvested forfeited
[Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares]
Number of nonvested outstanding, ending
[Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares]
Weighted average grant date fair value exercise price outstanding, beginning
[Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price]
Weighted average grant date fair value exercise price granted
Weighted average grant date fair value exercise price vested
Weighted average grant date fair value exercise price forfeited
Weighted average grant date fair value exercise price outstanding, ending
Number of nonvested outstanding, beginning
Expected volatility
Expected dividend yield
Risk-free interest rate
Number of options outstanding,beginning
[Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number]
Number of options expired/cancelled
[Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Expirations in Period]
Number of options outstanding, ending
Number of options exercisable
Weighted average exercise price outstanding, beginning
[Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price]
Weighted average exercise price expired/cancelled
Weighted average exercise price outstanding, ending
Weighted average exercise price exercisable
Weighted average remaining contractual life (in years) outstanding, beginning
Weighted average remaining contractual life (in years) outstanding, ending
Weighted average remaining contractual life (in years) exercisable
Stock-based compensation expense
Stock-based compensation expense, stock option
Unamortized stock-based compensation expense, stock option
Intrinsic value of outstanding and exercisable options
Unrecognized cost associated with PBRSU awards
Weighted-average period of approximately
Aggregate grant-date fair value of PSUs issued
Unamortized stock-based compensation expense
Numerator
Net income (loss)
Effect of common stock equivalents
Net income (loss) adjusted for common stock equivalents
Weighted average common shares - basic
Dilutive Effect Of Common Stock Equivalents:
Options, RSUs and PBRSUs
Denominator:
Weighted average common shares - diluted
Earnings (loss) per common share - basic
Earnings (loss) per common share - diluted
Options to purchase common shares
Income tax benefit (expense)
[Income tax benefit (expense)]
Deferred income tax benefit (expense)
Effective tax rates
U.S. federal income tax rate
Subsequent Event Type Axis
Subsequent Event [Member]
Purchase and Sale Agreement [Member]
Aggregate purchase price
Amount in cost of sales
Proceeds from sale of property, plant and equipment
Custom Element.
The amount of asset retirement costs previously incurred and capitalized separately from the capitalized amount of the associated long-lived assets.
Amount of increase (decrease) in the asset retirement obligation from changes in the amount or timing of the estimated cash flows associated with the settlement of the obligation.
Weighted average remaining lease term for finance lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term