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Note 8 - Derivatives and Fair Value (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

Settlement Period	*Type of Contract*	*Index*	*Average Monthly Volumes*		*Weighted Average Put Price*		*Weighted Average Call Price*
			(Bbls)		(per Bbl)		(per Bbl)
October 2023 - December 2023	Collars	Dated Brent		85,000	$	65.00	$	90.00
January 2024 - March 2024	Collars	Dated Brent		85,000	$	65.00	$	97.00
April 2024 - June 2024	Collars	Dated Brent		65,000	$	65.00	$	100.00

Schedule of Derivative Instruments [Table Text Block]

		*Three Months Ended September 30,*						*Nine Months Ended September 30,*
Derivative Item	*Statements of Operations Line*	*2023*			*2022*			*2023*			*2022*
		*(in thousands)*						*(in thousands)*
Commodity derivatives	Cash settlements paid on matured derivative contracts, net	$	1		$	(9,124	)	$	(62	)	$	(42,683	)
	Unrealized gain (loss)		(2,321	)		12,902			(2,206	)		5,161
	Derivative instruments gain (loss), net	$	(2,320	)	$	3,778		$	(2,268	)	$	(37,522	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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