v3.21.2
CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 2,670,242 $ 3,578,634
Accounts receivable 21,679,567 14,997,979
Joint interest billing receivable 1,909,804 1,327,262
Derivative receivable 0 499,906
Prepaid expenses and retainers 1,577,671 396,109
Total Current Assets 27,837,284 20,799,890
Properties and Equipment    
Oil and natural gas properties subject to amortization 858,427,028 836,514,815
Financing lease asset subject to depreciation 819,784 858,513
Fixed assets subject to depreciation 1,741,902 1,520,890
Total Properties and Equipment 860,988,714 838,894,218
Accumulated depreciation, depletion and amortization (216,589,422) (200,111,658)
Net Properties and Equipment 644,399,292 638,782,560
Operating lease asset 1,411,150 1,494,399
Deferred Financing Costs 2,049,096 2,379,348
Total Assets 675,696,822 663,456,197
Current Liabilities    
Accounts payable 44,128,214 32,500,081
Financing lease liability 259,261 295,311
Operating lease liability 216,730 859,017
Derivative liabilities 42,517,473 3,287,328
Notes Payable 758,150  
Total Current Liabilities 87,879,828 36,941,737
Deferred income taxes 190,644  
Revolving line of credit 300,500,000 313,000,000
Financing lease liability, less current portion 4,183 126,857
Operating lease liability, less current portion 1,285,335 635,382
Derivative liabilities, non-current 10,147,883 869,273
Asset retirement obligations 14,992,850 17,117,135
Total Liabilities 415,000,723 368,690,384
Stockholders' Equity    
Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding
Common stock - $0.001 par value; 150,000,000 shares authorized; 99,351,145 shares and 85,568,287 shares issued and outstanding, respectively 99,351 85,568
Additional paid-in capital 551,821,170 550,951,415
Accumulated deficit (291,224,422) (256,271,170)
Total Stockholders' Equity 260,696,099 294,765,813
Total Liabilities and Stockholders' Equity $ 675,696,822 $ 663,456,197

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