v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 28,728 $ 7,425
Accounts receivable, net of an allowance for credit losses of $558. 16,931 19,412
Prepaid obligations 1,454 865
Derivative assets 2,199 0
Other current assets 2 5
Total Current Assets 49,314 27,707
Property and Equipment    
Oil and gas properties at cost 848,494 846,559
Less: Accumulated depletion and depreciation (585,207) (552,756)
Oil and Gas, Successful Efforts Method, Property and Equipment, after Accumulated Depreciation, Depletion, Amortization, and Impairment 263,287 293,803
Field and office equipment at cost 13,153 13,073
Less: Accumulated depreciation (11,396) (11,433)
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization 1,757 1,640
Total Property and Equipment, Net 265,044 295,443
Other Assets 967 745
Total Assets 315,325 323,895
Current Liabilities    
Accounts payable 7,460 10,979
Accrued liabilities 23,467 26,169
Current portion of other long-term obligations 544 260
Asset retirement obligations 1,682 0
Total Current Liabilities 33,200 37,425
Long-term bank debt 0 0
Asset Retirement Obligations, net of current portion 13,046 14,337
Deferred Income Taxes 49,722 55,468
Other Long-Term Obligations 928 980
Total Liabilities 96,896 108,210
Equity    
Common stock, $0.10 par value; 2026 and 2025: Authorized and issued: 2,810,000 shares, outstanding 2026: 1,587,000; outstanding 2025: 1,632,500 shares 281 281
Paid-in capital 7,555 7,555
Retained earnings 298,253 287,385
Treasury stock, at cost; 2026: 1,223,000 shares; 2025: 1,177,500 shares (87,660) (79,536)
Total Stockholders’ Equity 218,429 215,685
Total Liabilities and Equity 315,325 323,895
Related Party [Member]    
Current Liabilities    
Due to related parties $ 47 $ 17