v3.22.2
CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 2,223,289 $ 2,408,316
Accounts receivable 39,496,928 24,026,807
Joint interest billing receivable 1,350,134 2,433,811
Derivative assets 1,353,196  
Prepaid expenses and other assets 3,205,746 938,029
Total Current Assets 47,629,293 29,806,963
Properties and Equipment    
Oil and natural gas properties, full cost method 945,521,085 883,844,745
Financing lease asset subject to depreciation 2,067,375 1,422,487
Fixed assets subject to depreciation 2,044,709 2,089,722
Total Properties and Equipment 949,633,169 887,356,954
Accumulated depreciation, depletion and amortization (255,274,309) (235,997,307)
Net Properties and Equipment 694,358,860 651,359,647
Operating lease asset 1,140,886 1,277,253
Derivative assets 785,389  
Deferred financing costs 1,324,918 1,713,466
Total Assets 745,239,346 684,157,329
Current Liabilities    
Accounts payable 64,262,609 46,233,452
Financing lease liability 407,031 316,514
Operating lease liability 301,339 290,766
Derivative liabilities 32,700,566 29,241,588
Notes payable 894,295 586,410
Total Current Liabilities 98,565,840 76,668,730
Noncurrent Liabilities    
Deferred income taxes 1,641,253 90,292
Revolving line of credit 270,000,000 290,000,000
Financing lease liability, less current portion 667,456 343,727
Operating lease liability, less current portion 983,995 1,138,319
Asset retirement obligations 15,373,543 15,292,054
Total Liabilities 387,232,087 383,533,122
Stockholders' Equity    
Common stock - $0.001 par value; 225,000,000 shares authorized; 107,236,111 shares and 100,192,562 shares issued and outstanding, respectively 107,236 100,193
Additional paid-in capital 561,791,836 553,472,292
Accumulated deficit (203,891,813) (252,948,278)
Total Stockholders' Equity 358,007,259 300,624,207
Total Liabilities and Stockholders' Equity $ 745,239,346 $ 684,157,329

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