v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities:    
Net Loss $ (8,500) $ (9,277)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:    
Stock-Based Compensation 397 1,017
Amortization of Right-of-Use Assets 336 241
Depreciation, Depletion & Amortization 2,861 4,802
Accretion of Asset Retirement Obligations 1,077 1,060
Loss on Commodity Derivatives 4,203  
Net Settlements on Commodity Derivative Instruments (4,241)  
Gain on Financial Derivative (Note 8) (78)  
Amortization of Debt Discount on Convertible Notes 115  
Loss on Extinguishment of Debt 659  
Gain on Sale of Oil and Natural Gas Properties   (175)
Gain on Write Off or Sale of Other Fixed Assets (12) (32)
Change in Operating Assets and Liabilities:    
Accounts Receivable (1,493) (2,012)
Inventory, Oil in Tanks (125) 1
Prepaids, Current 371 425
Accrued Expenses 762 1,054
Other Long-Term Assets and Liabilities (194) 50
Net Cash Used In Operating Activities (3,723) (1,525)
Cash Flows From Investing Activities:    
Disposal of Oil and Natural Gas Properties   175
Capital Expenditures - Oil and Natural Gas Properties [1] (3,556) (3,171)
Disposal of Other Fixed Assets   49
Purchase of Other Fixed Assets (108) (41)
Cash Paid for Right-of-Use Assets (317) (224)
Net Cash Used In Investing Activities (3,981) (3,212)
Cash Flows From Financing Activities:    
Borrowings on Credit Facility   3,000
Payments on Credit Facility (1,000)  
Proceeds from Promissory Note - Related Party (Note 8) 3,000 2,000
Payments on Promissory Note - Related Party (Note 8) (2,000)  
Principal Payments of Debt (309) (221)
Proceeds from Rights Offering, net of transaction costs (Note 10) 9,948  
Net Cash Provided By Financing Activities 9,639 4,779
Net Change in Cash 1,935 42
Cash - Beginning of Period 1,189 2,251
Cash - End of Period 3,124 2,293
Supplemental Cash Flow Information:    
Cash Paid for Interest 704 592
Non-cash addition to oil and natural gas properties related to issuance of shares 7,077  
Non related party    
Change in Operating Assets and Liabilities:    
Accounts Payable (1,985) $ 1,321
Related party    
Change in Operating Assets and Liabilities:    
Accounts Payable $ 2,124  
[1] Incurred capital expenditures were approximately $4.0 million and $3.3 million for the respective periods. The differences between incurred and cash capital expenditures is due to changes in related accounts payable.