Riley Exploration Permian (REPX) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 08, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-15555
Entity Registrant Name	Riley Exploration Permian, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0267438
Entity Address, Address Line One	29 E. Reno Avenue
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73104
City Area Code	405
Local Phone Number	415-8699
Title of 12(b) Security	Common stock, par value $0.001
Trading Symbol	REPX
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		20,160,230
Entity Central Index Key	0001001614
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 17,908	$ 8,317
Accounts receivable	27,463	18,002
Prepaid expenses and other current assets	3,377	4,902
Current derivative assets	1,607	83
Total current assets	50,355	31,304
Oil and natural gas properties, net (successful efforts)	431,067	359,131
Other property and equipment, net	4,822	3,174
Non-current derivative assets	0	267
Other non-current assets, net	4,307	2,293
Total Assets	490,551	396,169
Current Liabilities:
Accounts payable	10,854	7,737
Accounts payable - related parties	122	164
Accrued liabilities	28,785	12,874
Revenue payable	17,768	11,370
Current derivative liabilities	22,529	30,984
Other current liabilities	3,003	947
Total Current Liabilities	83,061	64,076
Non-current derivative liabilities	2,423	9,515
Asset retirement obligations	2,689	2,261
Revolving credit facility	48,000	65,000
Deferred tax liabilities	40,586	17,384
Other non-current liabilities	1,138	95
Total Liabilities	177,897	158,331
Commitments and Contingencies (Note 14)
Shareholders' Equity:
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued and outstanding	0	0
Common stock, $0.001 par value, 240,000,000 shares authorized; 20,181,872 and 19,836,885 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	20	20
Additional paid-in capital	273,821	271,737
Retained earnings (Accumulated deficit)	38,813	(33,919)
Total Shareholders' Equity	312,654	237,838
Total Liabilities and Shareholders' Equity	$ 490,551	$ 396,169

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (USD per Share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in Shares)	25,000,000	25,000,000
Preferred stock, shares issued (in Shares)	0	0
Preferred stock, shares outstanding (in Shares)	0	0
Common stock, par value (USD per Share)	$ 0.001	$ 0.001
Common stock, shares authorized (in Shares)	240,000,000	240,000,000
Common stock, shares issued (in Shares)	20,181,872	19,836,885
Common stock, shares outstanding (in Shares)	20,181,872	19,836,885

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total Revenues	$ 88,071	$ 48,614	$ 243,697	$ 128,022
Costs and Expenses:
Lease operating expenses	8,813	5,686	23,705	17,407
Production and ad valorem taxes	5,826	2,575	14,854	7,347
Exploration costs	20	884	1,540	9,142
Depletion, depreciation, amortization and accretion	8,346	6,692	22,167	20,025
General and administrative:
Administrative costs	5,154	4,790	13,567	11,516
Unit-based compensation expense	0	0	0	276
Share-based compensation expense	704	751	2,274	6,101
Cost of contract services - related parties	89	147	263	329
Transaction costs	0	198	2,638	2,683
Total Costs and Expenses	28,952	21,723	81,008	74,826
Income From Operations	59,119	26,891	162,689	53,196
Other Income (Expense):
Interest expense, net	(585)	(963)	(1,960)	(3,299)
Gain (loss) on derivatives	17,600	(14,987)	(44,395)	(75,286)
Total Other Income (Expense)	17,015	(15,950)	(46,355)	(78,585)
Net Income (Loss) From Continuing Operations Before Income Taxes	76,134	10,941	116,334	(25,389)
Income tax benefit (expense)	(16,317)	3,937	(25,130)	(13,539)
Net Income (Loss) From Continuing Operations	59,817	14,878	91,204	(38,928)
Discontinued Operations:
Gain (loss) from discontinued operations	0	775	0	(18,738)
Income tax benefit (expense) on discontinued operations	0	1	0	(59)
Gain (Loss) on Discontinued Operations	0	776	0	(18,797)
Net Income (Loss)	59,817	15,654	91,204	(57,725)
Dividends on preferred units	0	0	0	(574)
Net Income (Loss) Attributable to Common Shareholders/Unitholders	59,817	15,654	91,204	(58,299)
Net Income (Loss) Attributable to Common Shareholders/Unitholders	$ 59,817	$ 15,654	$ 91,204	$ (58,299)
Net Income (Loss) per Share/Unit:
Net Income (Loss) per Share/Unit from Continuing Operations, Basic (USD per Share/Unit)	$ 3.06	$ 0.77	$ 4.67	$ (2.29)
Net Income (Loss) per Share/Unit from Continuing Operations, Diluted (USD per Share/Unit)	3.05	0.76	4.65	(2.29)
Net Income (Loss) per Share/Unit from Discontinued Operations, Basic (USD per Share/Unit)	0	0.04	0	(1.09)
Net Income (Loss) per Share/Unit from Discontinued Operations, Diluted (USD per Share/Unit)	0	0.04	0	(1.09)
Net Income (Loss) per Share/Unit, Basic (USD per Share/Unit)	3.06	0.81	4.67	(3.38)
Net Income (Loss) per Share/Unit, Diluted (USD per Share/Unit)	$ 3.05	$ 0.80	$ 4.65	$ (3.38)
Weighted Average Common Shares/Units Outstanding:
Basic (in Shares/Units)	19,546	19,434	19,530	17,218
Diluted (in Shares/Units)	19,587	19,540	19,632	17,218
Oil and natural gas sales, net
Revenues:
Total Revenues	$ 87,471	$ 48,014	$ 241,897	$ 126,222
Contract services - related parties
Revenues:
Total Revenues	$ 600	$ 600	$ 1,800	$ 1,800

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS'/SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Members' Equity	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)
Beginning balance (in Shares/Units) at Dec. 31, 2020		1,568	0
Beginning balance at Dec. 31, 2020	$ 0	$ 154,371	$ 0	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of common units under long-term incentive plan (in Shares/Units)		(3)
Purchase of common units under long-term incentive plan		$ (191)
Dividends on preferred units		$ (574)
Preferred units converted to common units (in Shares/Units)		512
Preferred units converted to common units		$ 61,196
Dividends on common units		(3,770)
Unit-based compensation expense		$ 276
Restricted common shares issued in exchange for common units issued under long-term incentive plan (in Shares/Units)		(24)	198
Common shares issued in exchange for common units (effected for 1-for-12 reverse stock split) (in Shares/Units)		(2,053)	16,733
Common shares issued in exchange for common units (effected for 1-for-12 reverse stock split)	192,191	$ (192,191)	$ 17	192,174
Common shares issued for business combination (in Shares)			891
Common shares issued for business combination	26,392		$ 1	26,391
Restricted common shares issued (in Shares)			3
Share-based compensation expense, net	409			409
Dividends declared	(4,991)				(4,991)
Ending balance (in Shares/Units) at Mar. 31, 2021		0	17,825
Ending balance at Mar. 31, 2021	181,240	$ 0	$ 18	218,974	(37,752)
Beginning balance (in Shares/Units) at Dec. 31, 2020		1,568	0
Beginning balance at Dec. 31, 2020	0	$ 154,371	$ 0	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends on preferred units	(574)
Net income (loss)	(57,725)
Common shares issued for business combination	26,392
Ending balance (in Shares/Units) at Sep. 30, 2021		0	19,672
Ending balance at Sep. 30, 2021	221,690	$ 0	$ 20	270,837	(49,167)
Beginning balance (in Shares/Units) at Mar. 31, 2021		0	17,825
Beginning balance at Mar. 31, 2021	181,240	$ 0	$ 18	218,974	(37,752)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units under long-term incentive plan net (in Shares/Units)			197
Issuance of common shares under long-term incentive plan, net	4,165			4,165
Net income (loss)	(21,501)				(21,501)
Share-based compensation expense, net	779			779
Dividends paid	(55)				(55)
Ending balance (in Shares/Units) at Jun. 30, 2021		0	18,022
Ending balance at Jun. 30, 2021	164,628	$ 0	$ 18	223,918	(59,308)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	15,654				15,654
Share-based compensation expense, net	751			751
Repurchased shares for tax withholding (in Shares)			(17)
Repurchased shares for tax withholding	(514)			(514)
Common stock sold to public, net of issuance costs (in Shares)			1,667
Common stock sold to public, net of issuance costs	46,684		$ 2	46,682
Dividends declared	(5,513)				(5,513)
Ending balance (in Shares/Units) at Sep. 30, 2021		0	19,672
Ending balance at Sep. 30, 2021	221,690	$ 0	$ 20	270,837	(49,167)
Beginning balance (in Shares/Units) at Dec. 31, 2021		0	19,837
Beginning balance at Dec. 31, 2021	237,838	$ 0	$ 20	271,737	(33,919)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units under long-term incentive plan net (in Shares/Units)			30
Net income (loss)	(7,168)				(7,168)
Share-based compensation expense, net	1,061			1,061
Repurchased shares for tax withholding (in Shares)			(13)
Repurchased shares for tax withholding	(339)			(339)
Dividends declared	(6,154)				(6,154)
Ending balance (in Shares/Units) at Mar. 31, 2022		0	19,854
Ending balance at Mar. 31, 2022	225,238	$ 0	$ 20	272,459	(47,241)
Beginning balance (in Shares/Units) at Dec. 31, 2021		0	19,837
Beginning balance at Dec. 31, 2021	237,838	$ 0	$ 20	271,737	(33,919)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends on preferred units	0
Net income (loss)	91,204
Common shares issued for business combination	0
Ending balance (in Shares/Units) at Sep. 30, 2022		0	20,182
Ending balance at Sep. 30, 2022	312,654	$ 0	$ 20	273,821	38,813
Beginning balance (in Shares/Units) at Mar. 31, 2022		0	19,854
Beginning balance at Mar. 31, 2022	225,238	$ 0	$ 20	272,459	(47,241)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units under long-term incentive plan net (in Shares/Units)			20
Net income (loss)	38,555				38,555
Share-based compensation expense, net	828			828
Repurchased shares for tax withholding (in Shares)			(9)
Repurchased shares for tax withholding	(252)			(252)
Dividends declared	(6,159)				(6,159)
Ending balance (in Shares/Units) at Jun. 30, 2022		0	19,865
Ending balance at Jun. 30, 2022	258,210	$ 0	$ 20	273,035	(14,845)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units under long-term incentive plan net (in Shares/Units)			317
Net income (loss)	59,817				59,817
Share-based compensation expense, net	795			795
Repurchased shares for tax withholding	(9)			(9)
Dividends declared	(6,159)				(6,159)
Ending balance (in Shares/Units) at Sep. 30, 2022		0	20,182
Ending balance at Sep. 30, 2022	$ 312,654	$ 0	$ 20	$ 273,821	$ 38,813

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS'/SHAREHOLDERS' EQUITY (PARENTHETICAL)	3 Months Ended
	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Reverse stock split	0.083

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ 91,204	$ (57,725)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss from discontinued operations	0	18,797
Oil and gas lease expirations	1,465	8,923
Depletion, depreciation, amortization and accretion	22,167	20,025
Loss on derivatives	44,395	75,286
Settlements on derivative contracts	(61,198)	(21,477)
Amortization of deferred financing costs	548	498
Unit-based compensation expense	0	276
Share-based compensation expense	2,684	6,101
Deferred income tax expense	23,202	13,352
Changes in operating assets and liabilities
Accounts receivable	(9,461)	(6,949)
Accounts receivable – related parties	0	(143)
Prepaid expenses and other current assets	1,513	241
Accounts payable and accrued liabilities	6,038	8,463
Accounts payable - related parties	(42)	800
Revenue payable	6,398	4,481
Other current liabilities	1,439	(763)
Net Cash Provided by Operating Activities - Continuing Operations	130,352	70,186
Cash Flows from Investing Activities:
Additions to oil and natural gas properties	(82,101)	(50,247)
Acquisitions of oil and natural gas properties	0	(445)
Additions to other property and equipment	(1,081)	(1,396)
Tengasco acquired cash	0	859
Net Cash Used in Investing Activities - Continuing Operations	(83,182)	(51,229)
Cash Flows from Financing Activities:
Deferred financing costs	(1,722)	(86)
Proceeds from revolving credit facility	4,000	3,500
Repayment under revolving credit facility	(21,000)	(41,000)
Payment of common share/unit dividends	(18,257)	(14,568)
Proceeds from issuance of common stock	0	50,000
Public offering costs	0	(3,316)
Payment of preferred unit dividends	0	(1,491)
Common stock repurchased for tax withholding	(600)	(514)
Purchase of common units under long-term incentive plan	0	(191)
Net Cash Used in Financing Activities - Continuing Operations	(37,579)	(7,666)
Net Increase in Cash and Cash Equivalents from Continuing Operations	9,591	11,291
Cash Flows from Discontinued Operations:
Operating activities	0	7
Investing activities	0	3,892
Net Increase in Cash and Cash Equivalents from Discontinued Operations	0	3,899
Net Increase in Cash and Cash Equivalents	9,591	15,190
Cash and Cash Equivalents, Beginning of Period	8,317	1,877
Cash and Cash Equivalents, End of Period	17,908	17,067
Cash Paid For:
Interest, net of capitalized interest	1,866	2,384
Non-cash Investing and Financing Activities - Continuing Operations:
Changes in capital expenditures in accounts payable and accrued liabilities	11,971	10,576
Right of use assets obtained in exchange for operating lease liability	1,624	0
Preferred unit dividends	0	574
Common stock issued in exchange for common units	0	192,191
Assets acquired and liabilities assumed in business combination	0	3,695
Common stock issued for business combination	0	26,392
Preferred units converted to common units	0	61,196
Non-cash Investing - Discontinued Operations:
Goodwill incurred in business combination	0	19,013
Assets acquired and liabilities assumed in business combination	$ 0	$ 2,824

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Organization Riley Permian is a growth-oriented, independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas and NGLs in Texas and New Mexico. Our activities primarily include the horizontal development of the San Andres formation, a shelf margin deposit on the Northwest Shelf of the Permian Basin. Our acreage is primarily located on large, contiguous blocks in Yoakum County, Texas. On February 26, 2021 (the “Closing Date”), Riley Permian (f/k/a Tengasco, Inc. (“Tengasco”)), consummated a merger, dated as of October 21, 2020, by and among Tengasco, Antman Sub, LLC, a newly formed Delaware limited liability company and wholly owned subsidiary of Tengasco (“Merger Sub”), and Riley Exploration – Permian, LLC (“REP LLC”). Merger Sub merged with and into REP LLC, with REP LLC as the surviving company and as a wholly owned subsidiary of Tengasco (collectively, with the other transactions described in the Merger Agreement, the “Merger”). On the Closing Date, the Registrant changed its name from Tengasco, Inc. to Riley Exploration Permian, Inc.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation On August 16, 2022, the Board acting by written consent resolved to amend and restate the Company's Second Amended and Restated Bylaws to change the Company's fiscal year period from October 1st through September 30th each year to January 1st through December 31st each year commencing with the 2022 calendar year. On August 19, 2022, the holders of approximately 75% of our outstanding Common Stock acting by written consent approved the Bylaws Restatement and adopted the Third Amended and Restated Bylaws. In accordance with Rule 14c-2 under the Exchange Act, the aforementioned actions taken by written consent became effective on September 23, 2022. As a result, the Company's 2022 fiscal year is now the period from January 1, 2022 to December 31, 2022. As a result of the change in the Company's fiscal year, this document reflects the Company's Quarterly Report for the three and nine months ended September 30, 2022 and comparative information for the 2021 periods. These unaudited condensed consolidated financial statements as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021 include the accounts of Riley Permian and its wholly owned subsidiaries REP LLC, Riley Permian Operating Company, LLC ("RPOC"), Tengasco Pipeline Corporation, Tennessee Land & Mineral Corporation, and Manufactured Methane Corporation, and have been prepared in accordance with U.S. GAAP. All intercompany balances and transactions have been eliminated upon consolidation. The Merger was accounted for as a reverse merger and, as such, the historical operations of REP LLC are deemed to be those of the Company. Thus, the condensed consolidated financial statements included in this report reflect (i) the historical operating results of REP LLC prior to the Merger; (ii) the consolidated results of the Company following the Merger; (iii) the assets and liabilities of REP LLC at their historical cost; and (iv) the Company’s equity and earnings per share for all periods presented. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended September 30, 2021 and the Company's Transition Report on Form 10-QT for the period ended December 31, 2021. These condensed consolidated financial statements have not been audited by an independent registered public accounting firm. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all adjustments necessary for fair presentation of the results of operations for the periods presented, which adjustments were of a normal recurring nature, except as disclosed herein. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2022, for various reasons, including as a result of the impact of fluctuations in prices received for oil and natural gas, natural production declines, the uncertainty of exploration and development drilling results, fluctuations in the fair value of derivative instruments, the current and future impacts of the military conflict between Russia and Ukraine, the volatile inflationary environment in U.S. markets and other factors.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Significant Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, accounts receivable, accrued capital expenditures and operating expenses, ARO, the fair value determination of acquired assets and assumed liabilities, certain tax accruals and the fair value of derivatives. Accounts Receivable Accounts receivable is summarized below: September 30, 2022 December 31, 2021 (In thousands) Oil, natural gas and NGL sales $ 26,380 $ 17,562 Joint interest accounts receivable 500 409 Other accounts receivable 583 31 Total accounts receivable $ 27,463 $ 18,002 The Company had no allowance for credit losses at September 30, 2022 and December 31, 2021. Other Non-Current Assets, Net Other non-current assets consisted of the following: September 30, 2022 December 31, 2021 (In thousands) Deferred financing costs, net $ 2,519 $ 1,345 Prepayments to outside operators 248 690 Right of use assets 1,477 208 Other deposits 63 50 Total other non-current assets, net $ 4,307 $ 2,293 The Company incurred $1.7 million in financing costs related to the amendment of its revolving credit facility in April 2022. The Company extended certain existing leases and entered into a new lease during the nine months ended September 30, 2022, which resulted in additions to the right of use assets. Accrued Liabilities Accrued liabilities consisted of the following: September 30, 2022 December 31, 2021 (In thousands) Accrued capital expenditures $ 14,966 $ 5,618 Accrued lease operating expenses 4,315 2,534 Accrued general and administrative costs 4,750 3,404 Other accrued expenditures 4,754 1,318 Total accrued liabilities $ 28,785 $ 12,874 Asset Retirement Obligations Components of the changes in ARO for the nine months ended September 30, 2022 and the year ended December 31, 2021 are shown below: September 30, 2022 December 31, 2021 (In thousands) ARO, beginning balance $ 2,453 $ 2,434 Liabilities incurred 348 56 Revision of estimated obligations 326 — Liability settlements and disposals (178) (58) Accretion 54 21 ARO, ending balance 3,003 2,453 Less: current ARO (1) (314) (192) ARO, long-term $ 2,689 $ 2,261 _____________________ (1) Current ARO is included within other current liabilities on the accompanying condensed consolidated balance sheets. Goodwill At the closing of the Merger, the Company determined it had two reporting units, and the entire goodwill balance was included in the reporting unit acquired in the Merger (the "Kansas Reporting Unit"). The Company did not fully integrate the Kansas Reporting Unit in the Company's operations as it was deemed to be held for sale upon acquisition. The Company assessed the goodwill balance for impairment since the Company entered into a purchase and sale agreement ("PSA") in March 2021 for $3.5 million before closing adjustments. As the carrying value exceeded the implied fair value at the time of the closing of the Merger, the Company concluded the goodwill balance associated with the Kansas Reporting Unit was impaired and recognized a goodwill impairment loss, included within loss from discontinued operations on the condensed consolidated statement of operations, of $18.5 million for the nine months ended September 30, 2021. See further discussion in Note 12 - Discontinued Operations and Assets Held for Sale. Revenue Recognition The following table presents oil and natural gas sales disaggregated by product: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Oil and natural gas sales: Oil $ 80,017 $ 44,026 $ 224,895 $ 114,314 Natural gas 4,216 1,908 8,855 7,381 Natural gas liquids 3,238 2,080 8,147 4,527 Total oil and natural gas sales, net $ 87,471 $ 48,014 $ 241,897 $ 126,222 Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes." This update is intended to simplify the accounting for income taxes by removing certain exceptions and by clarifying and amending existing guidance and is effective for public business entities beginning after December 15, 2020 with early adoption permitted. The Company adopted this ASU effective October 1, 2021. The adoption of this ASU did not have a material impact on the Company's condensed consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Business Combination Between REP LLC and Tengasco Immediately prior to the closing of the Merger on February 26, 2021, REP LLC converted all of its issued and outstanding Series A Preferred Units into common units of REP LLC. In connection with the Merger, holders of common units of REP LLC were entitled to receive, in exchange for each common unit, shares of common stock of Tengasco (which was renamed Riley Exploration Permian, Inc.), par value $0.001 per share (“Tengasco common stock”) based on the exchange ratio set forth in the Merger Agreement (the “Exchange Ratio”), with cash paid in lieu of the issuance of any fractional shares. The Exchange Ratio was 97.796467 shares of Tengasco common stock for each common unit of REP LLC (as adjusted for the reverse stock split). Immediately prior to the closing of the Merger, Tengasco effected a one-for-twelve reverse stock split resulting in outstanding common stock of approximately 17.8 million shares including shares of Tengasco common stock issued in the Merger. The combination between REP LLC and Tengasco qualified as a business combination with REP LLC being treated as the accounting acquirer. The assets acquired and liabilities assumed were recognized on the condensed consolidated balance sheet at fair value as of the acquisition date. The consideration paid in the Merger by REP LLC as the accounting acquirer totaled approximately $26.4 million and was determined based on the closing price of Tengasco’s common stock on February 26, 2021 and the total number of shares outstanding immediately prior to the Merger. The Merger was structured as a tax-free reorganization for United States federal income tax purposes. The following table summarizes the consideration for the Merger (presented in thousands, except stock price): Tengasco common stock price $ 29.64 Tengasco common stock - issued and outstanding as of February 26, 2021 891 Total consideration $ 26,392 The Company incurred approximately $5.0 million of related costs for the Merger, of which $0.2 million and $2.6 million was expensed for the three and nine months ended September 30, 2021 as transaction costs on the condensed consolidated statements of operations. The Company completed the determination of the fair value attributable to the assets acquired and liabilities assumed as of September 30, 2021. The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values on February 26, 2021 (in thousands): Assets Cash and cash equivalents $ 860 Account receivable 325 Prepaid and other current assets 759 Total current assets 1,944 Oil and gas properties 4,525 Other property and equipment 91 Right of use assets 42 Other non-current assets 4 Deferred tax assets 2,987 Total assets acquired 9,593 Liabilities Accounts payable 130 Accrued liabilities 409 Current lease liabilities, operating 42 Current lease liabilities, financing 68 Total current liabilities 649 Asset retirement obligations 1,565 Total liabilities assumed 2,214 Net identifiable assets acquired 7,379 Goodwill 19,013 Net assets acquired $ 26,392 The goodwill recognized was primarily attributable to a substantial increase in the stock price of Tengasco on the Closing Date, which increased the amount of the consideration transferred. Pro Forma Operating Results (Unaudited) The following unaudited pro forma combined results for the year ended September 30, 2021 reflect the consolidated results of operations of the Company as if the Merger had occurred on October 1, 2019. Subsequent to the Merger, the Company changed its fiscal year period from October 1st through September 30th each year to January 1st to December 31st each year commencing with the 2022 calendar year. The unaudited pro forma information includes adjustments for $3.6 million of transaction costs being reclassified to the fourth quarter of calendar year 2019 which were incurred during the year ended September 30, 2021. Additionally, the Company adjusted for $0.9 million of oil and natural gas property impairment that Tengasco recognized under the full-cost method of accounting, which would not have been recognized under the successful efforts method, during the three months ended December 31, 2020. Also, the unaudited pro forma information has been tax effected using a 21% tax rate. The common stock was also adjusted for the conversion of the REP LLC preferred units into common units and retroactively adjusted for the Exchange Ratio and one-for-twelve reverse stock split. For the year ended September 30, 2021 (In thousands, except per share/unit amounts) (Unaudited) Total Revenues $ 151,036 Pro Forma Net Loss before Taxes (29,871) Pro forma income tax benefit 6,273 Pro Forma Net Loss $ (23,598) Net Loss per Share/Unit from Continuing Operations: Basic $ (1.88) Diluted $ (1.88) Net Income per Share/Unit from Discontinued Operations: Basic $ 0.02 Diluted $ 0.02 The unaudited pro forma combined financial information is for informational purposes only and was based off of the fiscal year period October 1st through September 30th as this was the fiscal year in effect at the time of the Merger. The unaudited pro forma financial information was not modified for the change in the Company's fiscal year. It is not intended to represent or to be indicative of the combined results of operations that the Company would have reported had the Merger been completed as of October 1, 2019 and should not be taken as indicative of the Company's future combined results of operations. The actual results may differ significantly from that reflected in the unaudited pro forma combined financial information for a number of reasons, including, but not limited to, differences in assumptions used to prepare the unaudited pro forma combined financial information and actual results.

Oil and Natural Gas Properties

Oil and Natural Gas Properties	9 Months Ended
	Sep. 30, 2022
Extractive Industries [Abstract]
Oil and Natural Gas Properties	Oil and Natural Gas Properties Oil and natural gas properties are summarized below: September 30, 2022 December 31, 2021 (In thousands) Proved $ 508,834 $ 421,779 Unproved 12,937 18,839 Work-in-progress 26,008 13,534 547,779 454,152 Accumulated depletion and amortization (116,712) (95,021) Total oil and natural gas properties, net $ 431,067 $ 359,131 Depletion and amortization expense for proved oil and natural gas properties was $8.2 million and $6.5 million for the three months ended September 30, 2022 and 2021. Depletion and amortization expense for proved oil and natural gas properties was $21.7 million and $19.3 million for the nine months ended September 30, 2022 and 2021, respectively. Exploration expense was $20 thousand and $0.9 million for the three months ended September 30, 2022 and 2021, respectively, and $1.5 million and $9.1 million for the nine months ended September 30, 2022 and 2021, respectively. Exploration expense was primarily attributable to the expiration of oil and natural gas leases for the nine months ended September 30, 2022 and three and nine months ended September 30, 2021.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Oil and Natural Gas Contracts The Company uses commodity based derivative contracts to reduce exposure to fluctuations in oil and natural gas prices. While the use of these contracts limits the downside risk for adverse price changes, their use also limits future revenues from favorable price changes. We have not designated our derivative contracts as hedges for accounting purposes, and therefore changes in the fair value of derivatives are included and recognized in other income (expense) in the condensed consolidated statement of operations. As of September 30, 2022, the Company's oil and natural gas derivative instruments consisted of fixed price swaps, costless collars, and basis protection swaps. The following table summarizes the open financial derivative positions as of September 30, 2022, related to oil and natural gas production: Weighted Average Price Calendar Quarter / Year Notional Volume Fixed Put Call ($ per unit) Oil Swaps (Bbl) Q4 2022 270,000 $ 56.03 $ — $ — 2023 720,000 $ 53.27 $ — $ — Natural Gas Swaps (Mcf) Q4 2022 540,000 $ 3.26 $ — $ — Oil Collars (Bbl) Q4 2022 90,000 $ — $ 35.00 $ 42.63 2023 — $ — $ — $ — 2024 3,000 $ — $ 50.00 $ 88.00 Oil Basis (Bbl) Q4 2022 240,000 $ 0.41 $ — $ — Interest Rate Contracts The Company has entered into floating-to-fixed interest rate swaps, in which it receives a floating market rate equal to one-month LIBOR and pays a fixed interest rate, to manage interest rate exposure related to the Company's revolving credit facility. The following table summarizes the open interest rate derivative positions as of September 30, 2022: Open Coverage Period Notional Amount Fixed Rate (In thousands) Floating-to-Fixed Interest Rate Swaps October 2022 - September 2023 $ 40,000 0.24 % Balance Sheet Presentation of Derivatives The following tables present the location and fair value of the Company’s derivative contracts included in the condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021: September 30, 2022 Balance Sheet Classification Gross Fair Value Amounts Netted Net Fair Value (In thousands) Current derivative assets $ 1,611 $ (4) $ 1,607 Non-current derivative assets 17 (17) — Current derivative liabilities (22,533) 4 (22,529) Non-current derivative liabilities (2,440) 17 (2,423) Total $ (23,345) $ — $ (23,345) December 31, 2021 Balance Sheet Classification Gross Fair Value Amounts Netted Net Fair Value (In thousands) Current derivative assets $ 281 $ (198) $ 83 Non-current derivative assets 267 — 267 Current derivative liabilities (31,182) 198 (30,984) Non-current derivative liabilities (9,515) — (9,515) Total $ (40,149) $ — $ (40,149) The following table presents the components of the Company's gain (loss) on derivatives for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Settlements on derivative contracts $ (17,040) $ (11,171) $ (61,198) $ (21,477) Non-cash gain (loss) on derivatives 34,640 (3,816) 16,803 (53,809) Gain (loss) on derivatives $ 17,600 $ (14,987) $ (44,395) $ (75,286)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The FASB has established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy consists of three broad levels. Level 1 inputs are the highest priority and consist of unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 3 are unobservable inputs for an asset or liability. The carrying values of financial instruments comprising cash and cash equivalents, payables, receivables, and advances from joint interest owners approximate fair values due to the short-term maturities of these instruments. The carrying value reported for the revolving credit facility approximates fair value because the underlying instruments are at interest rates which approximate current market rates. The revolving line of credit is considered a Level 3 measurement. Assets and Liabilities Measured on a Recurring Basis The fair value of commodity derivatives and interest rate swaps is estimated using discounted cash flow calculations based upon forward curves. The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2022 and December 31, 2021, by level within the fair value hierarchy: September 30, 2022 Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Commodity derivative assets $ — $ 21 $ — $ 21 Interest rate assets $ — $ 1,607 $ — $ 1,607 Financial liabilities: Commodity derivative liabilities $ — $ (24,973) $ — $ (24,973) Interest rate liabilities $ — $ — $ — $ — December 31, 2021 Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Commodity derivative assets $ — $ 187 $ — $ 187 Interest rate assets $ — $ 361 $ — $ 361 Financial liabilities: Commodity derivative liabilities $ — $ (40,687) $ — $ (40,687) Interest rate liabilities $ — $ (10) $ — $ (10)

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Transactions with Related Parties	Transactions with Related Parties Contract Services RPOC provides certain administrative services to Combo Resources, LLC ("Combo") and is also the contract operator on behalf of Combo in exchange for a monthly fee of $100 thousand and reimbursement of all third party expenses pursuant to a contract services agreement. Additionally, RPOC provides certain administrative and operational services to Riley Exploration Group, LLC ("REG") in exchange for a monthly fee of $100 thousand pursuant to a contract services agreement. The following table presents revenues from and related cost for contract services for related parties: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Combo $ 300 $ 300 $ 900 $ 900 REG 300 300 900 900 Contract services - related parties $ 600 $ 600 $ 1,800 $ 1,800 Cost of contract services $ 89 $ 147 $ 263 $ 329 The Company had amounts due to Combo of $0.1 million and $0.2 million at September 30, 2022 and December 31, 2021, respectively, which are reflected in accounts payable - related parties on the accompanying condensed consolidated balance sheets. Amounts due to Combo reflect the revenue, net of any expenditures for wells and fees due under the contract services agreement, for Combo's net working interest in wells that the Company operates on Combo's behalf. Consulting and Legal Fees On January 25, 2022, the Company and di Santo Law PLLC ("di Santo Law"), a law firm owned by a member of our Board of Directors, entered into an engagement letter that provides a monthly fixed fee in exchange for general corporate legal services. The agreement has an initial term of one year and provides for a monthly cash payment of $30 thousand and an aggregate one-time grant of 10,500 shares of restricted stock that vest in four equal installments at the end of each quarter in calendar year 2022. Prior to entry into this agreement, di Santo Law's attorneys provided legal services to the Company based on hourly rates. The Company incurred legal fees from di Santo Law of approximately $0.2 million and $0.5 million for the three months ended September 30, 2022 and 2021, respectively. The Company incurred legal fees from di Santo Law of approximately $0.5 million and $1.3 million for the nine months ended September 30, 2022 and 2021. As of September 30, 2022, there were no amounts due to di Santo Law. As of December 31, 2021, the Company had approximately $0.2 million accrued for di Santo Law. Such amounts were included in accrued liabilities in the accompanying condensed consolidated balance sheets.

Revolving Credit Facility

Revolving Credit Facility	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On September 28, 2017, REP LLC entered into a credit agreement (the "Credit Agreement") to establish a senior secured revolving credit facility with a syndicate of banks including SunTrust Bank, now Truist Bank as successor by merger, as administrative agent. Substantially all of the Company’s assets are pledged to secure the revolving credit facility. The revolving credit facility had an initial borrowing base of $25 million with a maximum facility amount of $500 million. On April 29, 2022, the Company amended its Credit Agreement to, among other things, increase the borrowing base from $175 million to $200 million, extend the maturity date to April 2026, replace LIBOR with SOFR and change the requirements for hedging to be based on utilization of the borrowing base and the Company's leverage ratio. On October 25, 2022, the Company amended its Credit Agreement to, among other things, increase the borrowing base from $200 million to $225 million and change the semi-annual redeterminations to April 1 and October 1 to align with the Company's new fiscal year end of December 31st.. The borrowing base is subject to periodic redeterminations, mandatory reductions and further adjustments from time to time. During these redetermination periods, the Company’s borrowing base may be increased or may be reduced in certain circumstances. The revolving credit facility allows for SOFR Loans and Base Rate Loans (each as defined in the Credit Agreement). The interest rate on each SOFR Loan will be the adjusted Term SOFR for the applicable interest period plus a margin between 2.75% and 3.75% (depending on the borrowing base utilization percentage). The annual interest rate on each Base Rate Loan will be the Base Rate for the applicable interest period plus a margin between 1.75% and 2.75% (depending on the borrowing base utilization percentage). The Company is also subject to an unused commitment fee of between 0.375% and 0.500% (depending on the borrowing base utilization percentage). The Credit Agreement contains certain covenants, which, among other things, require the maintenance of (i) a total leverage ratio of not more than 3.25 to 1.0 and (ii) a minimum current ratio of not less than 1.0 to 1.0 as of the last day of any quarter. The Credit Agreement also contains a total leverage ratio for Restricted Payments, as defined in the Credit Agreement, after giving pro forma effect to such Restricted Payments, which includes payments to any holder of the Company's shares, would not exceed 2.50 to 1.0. If the Company's leverage ratio, after giving pro forma effect to such Restricted Payments (as defined in the Credit Agreement), is above 2.0 to 1.0, then an additional test of free cash flow is applied, and the Company will only be permitted to make such Restricted Payments if such payment does not exceed the Company's free cash flow. The Company is also required to limit its cash balance to less than $15 million or 10% of the borrowing base, whichever is greater. If the Company's cash balance exceeds this limit on the last business day of the month, the Company will be required to apply the excess to reduce its credit facility borrowings. The Credit Agreement also contains other customary affirmative and negative covenants and events of default. The Company's minimum hedging requirement is between 0% and 50% (depending on the borrowing base utilization percentage and leverage ratio as of the hedge evaluation date) of its proved developed producing ("PDP") volumes on a rolling 24-month basis. As of September 30, 2022, the Company's minimum hedging requirement was 0%. The following table summarizes the Company's interest expense: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Interest expense, net of capitalized interest $ 273 $ 728 $ 1,050 $ 2,645 Amortization of deferred financing costs 175 170 548 498 Unused commitment fees 137 65 362 156 Total interest expense, net $ 585 $ 963 $ 1,960 $ 3,299 As of September 30, 2022 and December 31, 2021, the weighted average interest rate on outstanding borrowings under the revolving credit facility was 5.88% and 3.10%, respectively. As of September 30, 2022, the Company was in compliance with all covenants contained in the Credit Agreement and had $48 million of outstanding borrowings and $152 million available under the borrowing base.

Members__Shareholders' Equity

Members’/Shareholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Members’/Shareholders' Equity	Members’/Shareholders' Equity Public Offering of Common Stock On June 30, 2021, the Company entered into an Underwriting Agreement (the "Underwriting Agreement") with Truist Securities, Inc., as the representative of the other several underwriters named in the Underwriting Agreement. On July 2, 2021, the Company issued 1,666,667 shares of common stock at a price to the public of $30.00 per share in accordance with the Underwriting Agreement. Net proceeds from the issuance were approximately $46.7 million, after deducting the underwriting fees and other offering costs incurred. Dividends For the three months ended September 30, 2022 and 2021, the Company declared quarterly dividends on its common stock totaling approximately $6.2 million and $5.5 million, respectively. See Note 9 - Revolving Credit Facility for discussion over the Company's restrictions on certain payments, including dividends. Share-Based and Unit-Based Compensation In connection with the Merger, the Company shareholders adopted an omnibus equity incentive plan, the 2021 LTIP, for the employees, consultants and the directors of the Company and its affiliates who perform services for the Company. The holders of unvested restricted units issued under the 2018 LTIP were issued substitute awards under the 2021 LTIP at the closing of the Merger. Upon the closing of the Merger and after giving effect to the adjustment resulting from the one-for-twelve reverse stock split, the 2021 LTIP had 1,387,022 shares of common stock available for issuance, of which 444,549 shares remained available as of September 30, 2022. 2021 Long-Term Incentive Plan The following table presents the Company's restricted stock activity during the nine months ended September 30, 2022 under the 2021 LTIP: 2021 Long-Term Incentive Plan Restricted Shares Weighted Average Grant Date Fair Value Unvested at December 31, 2021 366,789 $ 19.41 Granted 366,669 $ 17.61 Vested (96,838) $ 18.87 Forfeited (3,625) $ 23.46 Unvested at September 30, 2022 632,995 $ 18.45 For the three months ended September 30, 2022 and 2021, the total equity-based compensation expense is $0.8 million for both periods and is included in general and administrative costs on the Company's condensed consolidated statement of operations for the restricted share awards granted under the 2021 LTIP. For the nine months ended September 30, 2022 and 2021, the total equity-based compensation expense of $2.7 million and $6.1 million, respectively, is included in general and administrative costs on the Company's condensed consolidated statement of operations for the restricted share awards granted under the 2021 LTIP. Approximately $9.4 million of additional equity-based compensation expense will be recognized over the weighted average life of 30 months for the unvested restricted share awards as of September 30, 2022 granted under the 2021 LTIP. 2018 Long-Term Incentive Plan In connection with the Merger and in accordance with the Merger Agreement, each unvested restricted unit outstanding under the 2018 LTIP was converted into restricted shares of the Company under the 2021 LTIP. The holders of unvested restricted units issued under the 2018 LTIP were issued substitute awards under the 2021 LTIP at the closing of the Merger. Total unit-based compensation expense of $0.3 million is for all of the issuances outstanding during the period of January 2021 through the date of the merger, February 26, 2021. Unit-based compensation expense is included in general and administrative costs on the Company's condensed consolidated statement of operations.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesREP LLC was organized as a limited liability company and treated as a flow-through entity for federal income tax purposes. As such, taxable income and any related tax credits were passed through to its members and included in their tax returns, even though such taxable income or tax credits may not have been distributed. In connection with the closing of the Merger, the Company's tax status changed from a limited liability company to a C-corporation. As a result, the Company is responsible for federal and state income taxes and must record deferred tax assets and liabilities for the tax effects of any temporary differences that exist. The components of the Company's consolidated provision for income taxes from continuing operations are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Current income tax expense: Federal $ 142 $ 2 $ 1,442 $ 2 State 291 284 486 52 Total current income tax expense 433 286 1,928 54 Deferred income tax expense (benefit): Federal 15,460 (6,427) 22,439 14,202 State 424 2,204 763 (717) Total deferred income tax expense (benefit) 15,884 (4,223) 23,202 13,485 Total income tax expense (benefit) $ 16,317 $ (3,937) $ 25,130 $ 13,539 A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Tax at statutory rate 21.0 % 21.0 % 21.0 % 21.0 % Nondeductible compensation 0.1 % (32.1) % 0.2 % (1.3) % Transaction costs — % (47.7) % — % (2.1) % Stock compensation — % 0.2 % (0.1) % (0.1) % State income taxes, net of federal benefit 0.8 % 22.9 % 0.8 % (1.6) % Change in tax status — % (0.5) % — % (53.4) % Income subject to taxation by REP LLC's unitholders — % — % — % (15.8) % Other (0.5) % — % (0.3) % — % Effective income tax rate 21.4 % (36.2) % 21.6 % (53.3) % The Company's federal income tax returns for the years subsequent to December 31, 2018 remain subject to examination. The Company's income tax returns in major state income tax jurisdictions remain subject to examination for various periods subsequent to December 31, 2017. The Company currently believes that all other significant filing positions are highly certain and that all of its other significant income tax positions and deductions would be sustained under audit or the final resolution would not have a material effect on the consolidated financial statements. Therefore, the Company has not established any significant reserves for uncertain tax positions.

Discontinued Operations and Ass

Discontinued Operations and Assets Held For Sale	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations and Assets Held For Sale	Discontinued Operations and Assets Held For Sale Kansas Reporting Unit On March 10, 2021, the Company entered into a PSA to divest of the Kansas Reporting Unit for an agreed upon purchase price of $3.5 million before certain closing adjustments. In addition, the Company also agreed to assign to the buyer its lease associated with Tengasco's former corporate office in Greenwood Village, Colorado. With Tengasco qualifying as a business and the Kansas Reporting Unit making up a significant portion of the assets of Tengasco, the Company concluded that the transaction met the requirements of assets held for sale and discontinued operations upon the acquisition date. The sale closed on April 2, 2021 for an adjusted purchase price of $3.3 million, after customary closing adjustments. The following table presents the components of the loss on discontinued operations reported in the condensed consolidated statements of operations for the periods ended September 30, 2021: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 (In thousands) Oil and natural gas sales $ — $ — Total revenues — — Lease operating expenses — 115 Goodwill impairment — 18,516 Total expenses — 18,631 Other income (expenses) 775 (107) Gain (loss) from discontinued operations before income taxes 775 (18,738) Income tax benefit (expense) 1 (59) Gain (loss) from discontinued operations, net of tax $ 776 $ (18,797) The Company did not have any discontinued operations during the three and nine months ended September 30, 2022.

Net Income (Loss) Per Share_Uni

Net Income (Loss) Per Share/Unit	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share/Unit	Net Income (Loss) Per Share/Unit Net income (loss) per share/unit is calculated using a retroactive application of the Exchange Ratio and the one-for-twelve reverse stock split that occurred in conjunction with the Merger. The Company calculated net income or loss per share/unit using the treasury stock method. The table below sets forth the computation of basic and diluted net income (loss) per share/unit for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands, except per share/unit) Continuing Operations: Net income (loss) - Diluted $ 59,817 $ 14,878 $ 91,204 $ (38,928) Less: Dividends on preferred units — — — (574) Net income (loss) attributable to common shareholders/unitholders - Basic (1) $ 59,817 $ 14,878 $ 91,204 $ (39,502) Basic weighted-average common shares/units outstanding 19,546 19,434 19,530 17,218 Effecting of dilutive securities: Restricted shares/units 41 106 102 — Diluted weighted-average common shares/units outstanding 19,587 19,540 19,632 17,218 Continuing Operations: Basic net income (loss) per common share/unit $ 3.06 $ 0.77 $ 4.67 $ (2.29) Diluted net income (loss) per common share/unit $ 3.05 $ 0.76 $ 4.65 $ (2.29) _____________________________________________________ (1) Used in the basic and diluted net loss per share/unit calculation when the Company is in a net loss position. For the three and nine months ended September 30, 2022 and 2021, the following shares/units were excluded from the calculation of diluted net income (loss) per share/unit due to their anti-dilutive effect: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Restricted shares/units 293 127 232 228

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters The Company was named as a defendant in an adversary proceeding (the "Adversary Proceeding") commenced on October 25, 2021 in United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the "Bankruptcy Court"), by the Trustee of the Chapter 7 bankruptcy of the Hoactzin Partners, L.P. ("Hoactzin"). The complaint in the Adversary Proceeding alleges that in October of 2018, one year prior to the Hoactzin bankruptcy filing in October of 2019, Peter Salas ("Salas"), Chairman of the Board of Tengasco during the period of the purported fraudulent transfers, caused Hoactzin to transfer its working interests in certain wells on its Kansas acreage (the “Kansas Working Interests”) to the Company for an amount the complaint alleges was purportedly less than the reasonable equivalent value of such Kansas Working Interests. The complaint includes avoidance actions and other causes of action in connection with the transfer of the Kansas Working Interests, as well as other causes of action alleged related to certain transactions to which the Company was not a party. The complaint also alleges that Salas, Dolphin Direct Equity Partners, L.P. ("DDEP"), an entity substantially owned by Salas, and the Company are jointly and severally liable for the damages incurred by Hoactzin. In connection with the Company’s merger in February 2021, Salas resigned his position from the Company’s Board and no longer holds any position as an officer or director of the Company. On April 2, 2021, the Company closed on the sale of all the assets it held in Kansas (of which the Kansas Working Interests were a small part) to a third party for an agreed upon purchase price of $3.3 million. On October 13, 2022, the Company entered into a Compromise Settlement Agreement and Mutual General Release (the “Settlement Agreement”) with the Trustee for the bankruptcy estate for Hoactzin to resolve certain claims against the Company in the Adversary Proceeding. Under the terms of the Settlement Agreement, the Company will pay $80 thousand to the Trustee in full settlement and satisfaction of (a) all claims, causes of action, and damages that have been asserted against the Company or could be asserted against the Company in the Adversary Proceeding; and (b) all claims which might arise from or relate to any actions taken by the Company while acting in connection with Debtor. The effectiveness of the Settlement Agreement is contingent upon its approval by the Bankruptcy Court. On October 13, 2022, the Trustee filed a motion to approve the Settlement Agreement with the Bankruptcy Court (the “Settlement Motion”). A hearing will be held on November 16, 2022 on the Settlement Motion. Should the Court decline to approve the proposed settlement, the Trustee's claims against Riley Permian would proceed to trial, absent a subsequent settlement approved by the Court. If the Bankruptcy Court grants the Settlement Motion, after Riley Permian makes the settlement payment contemplated under the Settlement Agreement, Riley Permian and the Trustee intend to file a joint motion requesting dismissal of the Adversary Proceeding with prejudice, as contemplated by the Settlement Agreement. The Settlement Agreement will have no effect on the Trustee’s claims against any of the other defendants in the Adversary Proceeding, including without limitation, those claims against Peter Salas, our former Chief Executive Officer. Environmental Matters The Company is subject to various federal, state and local laws and regulations relating to the protection of the environment. These laws, which are often changing, regulate the discharge of materials into the environment and may require the Company to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. The Company had no material environmental liabilities as of September 30, 2022 or December 31, 2021. Contractual Commitments In October 2021, the Company executed two agreements related to its EOR project. The first agreement is a CO 2 purchase agreement with Kinder Morgan CO 2 Company, LLC that has a primary term extending through the earlier of the total contract quantity delivered or December 31, 2025. The agreement also has a daily contract quantity for Kinder Morgan to deliver CO 2 to the Company. The second agreement is a connection agreement that also established a delivery point for the purchased CO 2 with the Cortez Pipeline Company. In April 2022, the Company entered into a purchase agreement for pipe related to its 2023 drilling program. Under the agreement, the Company has commitments to purchase an additional approximately $10.1 million of pipe by first quarter of 2023. In August 2022, the Company entered into a second amendment on its gas gathering and processing agreement with its primary midstream counterparty, Stakeholder Midstream LLC (“Stakeholder”). Stakeholder committed to expand their gathering and processing system with a commitment from the Company to deliver an annual minimum volume to Stakeholder’s gathering system for a minimum of seven years beginning on the in-service date of the expanded plant.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 10, 2022, the Board of Directors of the Company declared a cash dividend of $0.34 per share of common stock payable on November 7, 2022 to its shareholders of record at the close of business on October 24, 2022. On October 25, 2022, the Company amended its Credit Agreement to, among other things, increase the borrowing base from $200 million to $225 million and change the semi-annual redetermination dates to April 1 and October 1 to align with the Company's new fiscal year end of December 31st.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation	These unaudited condensed consolidated financial statements as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021 include the accounts of Riley Permian and its wholly owned subsidiaries REP LLC, Riley Permian Operating Company, LLC ("RPOC"), Tengasco Pipeline Corporation, Tennessee Land & Mineral Corporation, and Manufactured Methane Corporation, and have been prepared in accordance with U.S. GAAP. All intercompany balances and transactions have been eliminated upon consolidation. The Merger was accounted for as a reverse merger and, as such, the historical operations of REP LLC are deemed to be those of the Company. Thus, the condensed consolidated financial statements included in this report reflect (i) the historical operating results of REP LLC prior to the Merger; (ii) the consolidated results of the Company following the Merger; (iii) the assets and liabilities of REP LLC at their historical cost; and (iv) the Company’s equity and earnings per share for all periods presented.
Basis of Presentation	Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended September 30, 2021 and the Company's Transition Report on Form 10-QT for the period ended December 31, 2021. These condensed consolidated financial statements have not been audited by an independent registered public accounting firm. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all adjustments necessary for fair presentation of the results of operations for the periods presented, which adjustments were of a normal recurring nature, except as disclosed herein. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2022, for various reasons, including as a result of the impact of fluctuations in prices received for oil and natural gas, natural production declines, the uncertainty of exploration and development drilling results, fluctuations in the fair value of derivative instruments, the current and future impacts of the military conflict between Russia and Ukraine, the volatile inflationary environment in U.S. markets and other factors.
Significant Estimates	Significant Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, accounts receivable, accrued capital expenditures and operating expenses, ARO, the fair value determination of acquired assets and assumed liabilities, certain tax accruals and the fair value of derivatives.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes." This update is intended to simplify the accounting for income taxes by removing certain exceptions and by clarifying and amending existing guidance and is effective for public business entities beginning after December 15, 2020 with early adoption permitted. The Company adopted this ASU effective October 1, 2021. The adoption of this ASU did not have a material impact on the Company's condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Accounts Receivable	Accounts receivable is summarized below: September 30, 2022 December 31, 2021 (In thousands) Oil, natural gas and NGL sales $ 26,380 $ 17,562 Joint interest accounts receivable 500 409 Other accounts receivable 583 31 Total accounts receivable $ 27,463 $ 18,002
Schedule of Other Non-current Assets, Net	Other non-current assets consisted of the following: September 30, 2022 December 31, 2021 (In thousands) Deferred financing costs, net $ 2,519 $ 1,345 Prepayments to outside operators 248 690 Right of use assets 1,477 208 Other deposits 63 50 Total other non-current assets, net $ 4,307 $ 2,293
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: September 30, 2022 December 31, 2021 (In thousands) Accrued capital expenditures $ 14,966 $ 5,618 Accrued lease operating expenses 4,315 2,534 Accrued general and administrative costs 4,750 3,404 Other accrued expenditures 4,754 1,318 Total accrued liabilities $ 28,785 $ 12,874
Schedule of Asset Retirement Obligations	Components of the changes in ARO for the nine months ended September 30, 2022 and the year ended December 31, 2021 are shown below: September 30, 2022 December 31, 2021 (In thousands) ARO, beginning balance $ 2,453 $ 2,434 Liabilities incurred 348 56 Revision of estimated obligations 326 — Liability settlements and disposals (178) (58) Accretion 54 21 ARO, ending balance 3,003 2,453 Less: current ARO (1) (314) (192) ARO, long-term $ 2,689 $ 2,261 _____________________ (1) Current ARO is included within other current liabilities on the accompanying condensed consolidated balance sheets.
Disaggregation of Revenue	The following table presents oil and natural gas sales disaggregated by product: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Oil and natural gas sales: Oil $ 80,017 $ 44,026 $ 224,895 $ 114,314 Natural gas 4,216 1,908 8,855 7,381 Natural gas liquids 3,238 2,080 8,147 4,527 Total oil and natural gas sales, net $ 87,471 $ 48,014 $ 241,897 $ 126,222

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the consideration for the Merger (presented in thousands, except stock price): Tengasco common stock price $ 29.64 Tengasco common stock - issued and outstanding as of February 26, 2021 891 Total consideration $ 26,392
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values on February 26, 2021 (in thousands): Assets Cash and cash equivalents $ 860 Account receivable 325 Prepaid and other current assets 759 Total current assets 1,944 Oil and gas properties 4,525 Other property and equipment 91 Right of use assets 42 Other non-current assets 4 Deferred tax assets 2,987 Total assets acquired 9,593 Liabilities Accounts payable 130 Accrued liabilities 409 Current lease liabilities, operating 42 Current lease liabilities, financing 68 Total current liabilities 649 Asset retirement obligations 1,565 Total liabilities assumed 2,214 Net identifiable assets acquired 7,379 Goodwill 19,013 Net assets acquired $ 26,392
Schedule of Business Acquisition, Pro Forma Information	The following unaudited pro forma combined results for the year ended September 30, 2021 reflect the consolidated results of operations of the Company as if the Merger had occurred on October 1, 2019. Subsequent to the Merger, the Company changed its fiscal year period from October 1st through September 30th each year to January 1st to December 31st each year commencing with the 2022 calendar year. The unaudited pro forma information includes adjustments for $3.6 million of transaction costs being reclassified to the fourth quarter of calendar year 2019 which were incurred during the year ended September 30, 2021. Additionally, the Company adjusted for $0.9 million of oil and natural gas property impairment that Tengasco recognized under the full-cost method of accounting, which would not have been recognized under the successful efforts method, during the three months ended December 31, 2020. Also, the unaudited pro forma information has been tax effected using a 21% tax rate. The common stock was also adjusted for the conversion of the REP LLC preferred units into common units and retroactively adjusted for the Exchange Ratio and one-for-twelve reverse stock split. For the year ended September 30, 2021 (In thousands, except per share/unit amounts) (Unaudited) Total Revenues $ 151,036 Pro Forma Net Loss before Taxes (29,871) Pro forma income tax benefit 6,273 Pro Forma Net Loss $ (23,598) Net Loss per Share/Unit from Continuing Operations: Basic $ (1.88) Diluted $ (1.88) Net Income per Share/Unit from Discontinued Operations: Basic $ 0.02 Diluted $ 0.02

Oil and Natural Gas Properties

Oil and Natural Gas Properties (Tables)	9 Months Ended
	Sep. 30, 2022
Extractive Industries [Abstract]
Schedule of Oil and Gas Properties	Oil and natural gas properties are summarized below: September 30, 2022 December 31, 2021 (In thousands) Proved $ 508,834 $ 421,779 Unproved 12,937 18,839 Work-in-progress 26,008 13,534 547,779 454,152 Accumulated depletion and amortization (116,712) (95,021) Total oil and natural gas properties, net $ 431,067 $ 359,131

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the open financial derivative positions as of September 30, 2022, related to oil and natural gas production: Weighted Average Price Calendar Quarter / Year Notional Volume Fixed Put Call ($ per unit) Oil Swaps (Bbl) Q4 2022 270,000 $ 56.03 $ — $ — 2023 720,000 $ 53.27 $ — $ — Natural Gas Swaps (Mcf) Q4 2022 540,000 $ 3.26 $ — $ — Oil Collars (Bbl) Q4 2022 90,000 $ — $ 35.00 $ 42.63 2023 — $ — $ — $ — 2024 3,000 $ — $ 50.00 $ 88.00 Oil Basis (Bbl) Q4 2022 240,000 $ 0.41 $ — $ — The following table summarizes the open interest rate derivative positions as of September 30, 2022: Open Coverage Period Notional Amount Fixed Rate (In thousands) Floating-to-Fixed Interest Rate Swaps October 2022 - September 2023 $ 40,000 0.24 %
Schedule of Derivative Instruments Location and Fair Value	The following tables present the location and fair value of the Company’s derivative contracts included in the condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021: September 30, 2022 Balance Sheet Classification Gross Fair Value Amounts Netted Net Fair Value (In thousands) Current derivative assets $ 1,611 $ (4) $ 1,607 Non-current derivative assets 17 (17) — Current derivative liabilities (22,533) 4 (22,529) Non-current derivative liabilities (2,440) 17 (2,423) Total $ (23,345) $ — $ (23,345) December 31, 2021 Balance Sheet Classification Gross Fair Value Amounts Netted Net Fair Value (In thousands) Current derivative assets $ 281 $ (198) $ 83 Non-current derivative assets 267 — 267 Current derivative liabilities (31,182) 198 (30,984) Non-current derivative liabilities (9,515) — (9,515) Total $ (40,149) $ — $ (40,149)
Schedule of Derivative Instruments, Gain (Loss)	The following table presents the components of the Company's gain (loss) on derivatives for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Settlements on derivative contracts $ (17,040) $ (11,171) $ (61,198) $ (21,477) Non-cash gain (loss) on derivatives 34,640 (3,816) 16,803 (53,809) Gain (loss) on derivatives $ 17,600 $ (14,987) $ (44,395) $ (75,286)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2022 and December 31, 2021, by level within the fair value hierarchy: September 30, 2022 Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Commodity derivative assets $ — $ 21 $ — $ 21 Interest rate assets $ — $ 1,607 $ — $ 1,607 Financial liabilities: Commodity derivative liabilities $ — $ (24,973) $ — $ (24,973) Interest rate liabilities $ — $ — $ — $ — December 31, 2021 Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Commodity derivative assets $ — $ 187 $ — $ 187 Interest rate assets $ — $ 361 $ — $ 361 Financial liabilities: Commodity derivative liabilities $ — $ (40,687) $ — $ (40,687) Interest rate liabilities $ — $ (10) $ — $ (10)

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents revenues from and related cost for contract services for related parties: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Combo $ 300 $ 300 $ 900 $ 900 REG 300 300 900 900 Contract services - related parties $ 600 $ 600 $ 1,800 $ 1,800 Cost of contract services $ 89 $ 147 $ 263 $ 329

Revolving Credit Facility (Tabl

Revolving Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Components of Interest Expense	The following table summarizes the Company's interest expense: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Interest expense, net of capitalized interest $ 273 $ 728 $ 1,050 $ 2,645 Amortization of deferred financing costs 175 170 548 498 Unused commitment fees 137 65 362 156 Total interest expense, net $ 585 $ 963 $ 1,960 $ 3,299

Members__Shareholders' Equity (

Members’/Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Restricted Stock, Activity	The following table presents the Company's restricted stock activity during the nine months ended September 30, 2022 under the 2021 LTIP: 2021 Long-Term Incentive Plan Restricted Shares Weighted Average Grant Date Fair Value Unvested at December 31, 2021 366,789 $ 19.41 Granted 366,669 $ 17.61 Vested (96,838) $ 18.87 Forfeited (3,625) $ 23.46 Unvested at September 30, 2022 632,995 $ 18.45

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of the Company's consolidated provision for income taxes from continuing operations are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Current income tax expense: Federal $ 142 $ 2 $ 1,442 $ 2 State 291 284 486 52 Total current income tax expense 433 286 1,928 54 Deferred income tax expense (benefit): Federal 15,460 (6,427) 22,439 14,202 State 424 2,204 763 (717) Total deferred income tax expense (benefit) 15,884 (4,223) 23,202 13,485 Total income tax expense (benefit) $ 16,317 $ (3,937) $ 25,130 $ 13,539
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Tax at statutory rate 21.0 % 21.0 % 21.0 % 21.0 % Nondeductible compensation 0.1 % (32.1) % 0.2 % (1.3) % Transaction costs — % (47.7) % — % (2.1) % Stock compensation — % 0.2 % (0.1) % (0.1) % State income taxes, net of federal benefit 0.8 % 22.9 % 0.8 % (1.6) % Change in tax status — % (0.5) % — % (53.4) % Income subject to taxation by REP LLC's unitholders — % — % — % (15.8) % Other (0.5) % — % (0.3) % — % Effective income tax rate 21.4 % (36.2) % 21.6 % (53.3) %

Discontinued Operations and A_2

Discontinued Operations and Assets Held For Sale (Tables)	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the components of the loss on discontinued operations reported in the condensed consolidated statements of operations for the periods ended September 30, 2021: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 (In thousands) Oil and natural gas sales $ — $ — Total revenues — — Lease operating expenses — 115 Goodwill impairment — 18,516 Total expenses — 18,631 Other income (expenses) 775 (107) Gain (loss) from discontinued operations before income taxes 775 (18,738) Income tax benefit (expense) 1 (59) Gain (loss) from discontinued operations, net of tax $ 776 $ (18,797)

Net Income (Loss) Per Share_U_2

Net Income (Loss) Per Share/Unit (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Shares/Units	The table below sets forth the computation of basic and diluted net income (loss) per share/unit for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands, except per share/unit) Continuing Operations: Net income (loss) - Diluted $ 59,817 $ 14,878 $ 91,204 $ (38,928) Less: Dividends on preferred units — — — (574) Net income (loss) attributable to common shareholders/unitholders - Basic (1) $ 59,817 $ 14,878 $ 91,204 $ (39,502) Basic weighted-average common shares/units outstanding 19,546 19,434 19,530 17,218 Effecting of dilutive securities: Restricted shares/units 41 106 102 — Diluted weighted-average common shares/units outstanding 19,587 19,540 19,632 17,218 Continuing Operations: Basic net income (loss) per common share/unit $ 3.06 $ 0.77 $ 4.67 $ (2.29) Diluted net income (loss) per common share/unit $ 3.05 $ 0.76 $ 4.65 $ (2.29) _____________________________________________________ (1) Used in the basic and diluted net loss per share/unit calculation when the Company is in a net loss position.
Schedule of Anti-Dilutive Shares/Units	For the three and nine months ended September 30, 2022 and 2021, the following shares/units were excluded from the calculation of diluted net income (loss) per share/unit due to their anti-dilutive effect: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands) Restricted shares/units 293 127 232 228

Basis of Presentation (Details)

Basis of Presentation (Details)	Aug. 19, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of holders with outstanding common stock who acted upon written consent	75%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Accounts Receivable (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Oil, natural gas and NGL sales	$ 26,380,000	$ 17,562,000
Joint interest accounts receivable	500,000	409,000
Other accounts receivable	583,000	31,000
Total accounts receivable	27,463,000	18,002,000
Allowance for credit losses	$ 0	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Other Non-current Assets, Net (Details) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Deferred financing costs, net		$ 2,519	$ 1,345
Prepayments to outside operators		248	690
Right of use assets		$ 1,477	$ 208
Right of use assets [Extensible Enumeration]		Total other non-current assets, net	Total other non-current assets, net
Other deposits		$ 63	$ 50
Total other non-current assets, net		$ 4,307	$ 2,293
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Additional financing costs	$ 1,700

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Accrued capital expenditures	$ 14,966	$ 5,618
Accrued lease operating expenses	4,315	2,534
Accrued general and administrative costs	4,750	3,404
Other accrued expenditures	4,754	1,318
Total accrued liabilities	$ 28,785	$ 12,874

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO, beginning balance		$ 2,453	$ 2,453	$ 2,434
Liabilities incurred			348	56
Revision of estimated obligations	$ 326	$ 0
Liability settlements and disposals			(178)	(58)
Accretion			54	21
ARO, ending balance	3,003		3,003	2,453
Less: current ARO	(314)		(314)	(192)
ARO, long-term	$ 2,689		$ 2,689	$ 2,261

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Goodwill (Details) $ in Millions		9 Months Ended
	Apr. 02, 2021 reporting_unit	Sep. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)
Goodwill [Line Items]
Number of reporting units | reporting_unit	2
Kansas Properties
Goodwill [Line Items]
Disposal group, fair value			$ 3.5
Goodwill impairment		$ 18.5

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenues	$ 88,071	$ 48,614	$ 243,697	$ 128,022
Oil and natural gas sales, net
Disaggregation of Revenue [Line Items]
Total Revenues	87,471	48,014	241,897	126,222
Oil
Disaggregation of Revenue [Line Items]
Total Revenues	80,017	44,026	224,895	114,314
Natural Gas
Disaggregation of Revenue [Line Items]
Total Revenues	4,216	1,908	8,855	7,381
Natural gas liquids
Disaggregation of Revenue [Line Items]
Total Revenues	$ 3,238	$ 2,080	$ 8,147	$ 4,527

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended					9 Months Ended
	Feb. 26, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Jun. 30, 2021	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 $ / shares shares
Business Acquisition [Line Items]
Common stock, par value (USD per Share) | $ / shares		$ 0.001					$ 0.001		$ 0.001
Reverse stock split				0.083
Common stock outstanding post merger (in Shares) | shares	17,800,000	20,181,872					20,181,872		19,836,885
Transaction costs		$ 0	$ 198				$ 2,638	$ 2,683
Riley Exploration
Business Acquisition [Line Items]
Total consideration	$ 26,392
Transaction costs, cumulative			5,000					5,000
Transaction costs			$ 200					$ 2,600
Impairment of oil and gas properties					$ 900
Riley Exploration | Transaction-related costs reclassification
Business Acquisition [Line Items]
Transaction costs						$ 3,600
Tengasco
Business Acquisition [Line Items]
Common stock, par value (USD per Share) | $ / shares	$ 0.001
Stock conversion ratio	97.796467
Reverse stock split	0.083

Acquisitions - Purchase Price o

Acquisitions - Purchase Price or Consideration for the Transaction (Details) - Riley Exploration $ / shares in Units, $ in Thousands	Feb. 26, 2021 USD ($) $ / shares
Business Acquisition [Line Items]
Stock price (USD per Share) | $ / shares	$ 29.64
Common stock - issued and outstanding	$ 891
Total consideration	$ 26,392

Acquisitions - Allocation of th

Acquisitions - Allocation of the Purchase Price (Details) - Riley Exploration $ in Thousands	Feb. 26, 2021 USD ($)
Current assets
Cash and cash equivalents	$ 860
Account receivable	325
Prepaid and other current assets	759
Total current assets	1,944
Oil and gas properties	4,525
Other property and equipment	91
Right of use assets	42
Other non-current assets	4
Deferred tax assets	2,987
Total assets acquired	9,593
Current liabilities
Accounts payable	130
Accrued liabilities	409
Current lease liabilities, operating	42
Current lease liabilities, financing	68
Total current liabilities	649
Asset retirement obligations	1,565
Total liabilities assumed	2,214
Net identifiable assets acquired	7,379
Goodwill	19,013
Net assets acquired	$ 26,392

Acquisitions - Pro Forma Operat

Acquisitions - Pro Forma Operating Results (Unaudited) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2021 USD ($) $ / shares
Business Combination and Asset Acquisition [Abstract]
Total Revenues | $	$ 151,036
Pro Forma Net Loss before Taxes | $	(29,871)
Pro forma income tax benefit | $	6,273
Pro Forma Net Loss | $	$ (23,598)
Net Loss per Share/Unit from Continuing Operations, Basic (USD per Share) | $ / shares	$ (1.88)
Net Loss per Share/Unit from Continuing Operations, Diluted (USD per Share) | $ / shares	(1.88)
Net Income per Share/Unit from Discontinued Operations, Basic (USD per share) | $ / shares	0.02
Net Income per Share/Unit from Discontinued Operations, Diluted (USD per share) | $ / shares	$ 0.02

Oil and Natural Gas Propertie_2

Oil and Natural Gas Properties - Schedule of Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Extractive Industries [Abstract]
Proved	$ 508,834	$ 421,779
Unproved	12,937	18,839
Work-in-progress	26,008	13,534
Total oil and natural gas properties, gross	547,779	454,152
Accumulated depletion and amortization	(116,712)	(95,021)
Total oil and natural gas properties, net	$ 431,067	$ 359,131

Oil and Natural Gas Propertie_3

Oil and Natural Gas Properties - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Extractive Industries [Abstract]
Depletion and amortization	$ 8,200	$ 6,500	$ 21,700	$ 19,300
Exploration costs	$ 20	$ 884	$ 1,540	$ 9,142

Derivative Instruments - Notion

Derivative Instruments - Notional Amounts, Crude Oil and Natural Gas (Details) bbl in Thousands, Mcf in Thousands	9 Months Ended
	Sep. 30, 2022 $ / bbl $ / Mcf Mcf bbl
Oil Swap, Q4 2022
Derivative [Line Items]
Notional Volume | bbl	270
Weighted average price (in usd per bbl or mcf)	56.03
Oil Swap, 2023
Derivative [Line Items]
Notional Volume | bbl	720
Weighted average price (in usd per bbl or mcf)	53.27
Natural Gas Swaps, Q4 2022
Derivative [Line Items]
Notional Volume | Mcf	540
Weighted average price (in usd per bbl or mcf) | $ / Mcf	3.26
Oil Collars, Q4 2022
Derivative [Line Items]
Notional Volume | bbl	90
Oil Collars, Q4 2022 | Short
Derivative [Line Items]
Weighted average price (in usd per bbl or mcf)	35
Oil Collars, Q4 2022 | Long
Derivative [Line Items]
Weighted average price (in usd per bbl or mcf)	42.63
Oil Collars, 2023
Derivative [Line Items]
Notional Volume | bbl	0
Oil Collars, 2023 | Short
Derivative [Line Items]
Weighted average price (in usd per bbl or mcf)	0
Oil Collars, 2023 | Long
Derivative [Line Items]
Weighted average price (in usd per bbl or mcf)	0
Oil Collars, 2024
Derivative [Line Items]
Notional Volume | bbl	3
Oil Collars, 2024 | Short
Derivative [Line Items]
Weighted average price (in usd per bbl or mcf)	50
Oil Collars, 2024 | Long
Derivative [Line Items]
Weighted average price (in usd per bbl or mcf)	88
Oil Basis, Q4 2022
Derivative [Line Items]
Notional Volume | bbl	240
Weighted average price (in usd per bbl or mcf)	0.41

Derivative Instruments - Noti_2

Derivative Instruments - Notional Amounts, Interest Rate Contracts (Details) - October 2022 - September 2023	Sep. 30, 2022 USD ($)
Derivative [Line Items]
Notional Amount	$ 40,000,000
Fixed Rate	0.24%

Derivative Instruments - Statem

Derivative Instruments - Statement Of Financial Position (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative asset, net, gross fair value	$ (23,345)	$ (40,149)
Derivative assets, net, net fair value	(23,345)	(40,149)
Current derivative assets
Derivative [Line Items]
Derivative asset, gross fair value	1,611	281
Derivative asset, amounts netted	(4)	(198)
Derivative assets, net fair value	1,607	83
Non-current derivative assets
Derivative [Line Items]
Derivative asset, gross fair value	17	267
Derivative asset, amounts netted	(17)	0
Derivative assets, net fair value	0	267
Current derivative liabilities
Derivative [Line Items]
Derivative liability, gross fair value	(22,533)	(31,182)
Derivative liability, amounts netted	4	198
Derivative liability, net fair value	(22,529)	(30,984)
Non-current derivative liabilities
Derivative [Line Items]
Derivative liability, gross fair value	(2,440)	(9,515)
Derivative liability, amounts netted	17	0
Derivative liability, net fair value	$ (2,423)	$ (9,515)

Derivative Instruments - Deriva

Derivative Instruments - Derivative Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Settlements on derivative contracts	$ (17,040)	$ (11,171)	$ (61,198)	$ (21,477)
Non-cash gain (loss) on derivatives	34,640	(3,816)	16,803	(53,809)
Gain (loss) on derivatives	$ 17,600	$ (14,987)	$ (44,395)	$ (75,286)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Commodity derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 21	$ 187
Financial liabilities	(24,973)	(40,687)
Commodity derivative | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	0	0
Commodity derivative | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	21	187
Financial liabilities	(24,973)	(40,687)
Commodity derivative | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	0	0
Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	1,607	361
Financial liabilities	0	(10)
Interest rate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	0	0
Interest rate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	1,607	361
Financial liabilities	0	(10)
Interest rate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	$ 0	$ 0

Transactions with Related Par_3

Transactions with Related Parties - Narrative (Details)		3 Months Ended		9 Months Ended
	Jan. 25, 2022 USD ($) installment shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Legal Services | di Santo Law PLLC | Director
Related Party Transaction [Line Items]
Monthly servicing fee	$ 30,000
Agreed upon fee structure, term	1 year
Number of vesting installments | installment	4
Expenses with related parties		$ 200,000	$ 500,000	$ 500,000	$ 1,300,000
Due to related parties		0		0		$ 200,000
Legal Services | di Santo Law PLLC | Director | Restricted Stock Units
Related Party Transaction [Line Items]
Stock issued during period, shares, issued for services (in Shares) | shares	10,500
Affiliated Entity | Contract Services Agreement | Combo Resources, LLC
Related Party Transaction [Line Items]
Monthly servicing fee				100,000
Due from (to) related party		$ (100,000)		(100,000)		$ (200,000)
Affiliated Entity | Contract Services Agreement | Riley Exploration Group, Inc
Related Party Transaction [Line Items]
Monthly servicing fee				$ 100,000

Transactions with Related Par_4

Transactions with Related Parties - Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Cost of contract services	$ 89	$ 147	$ 263	$ 329
Affiliated Entity | Contract Services Agreement
Related Party Transaction [Line Items]
Contract services - related parties	600	600	1,800	1,800
Affiliated Entity | Contract Services Agreement | Combo Resources, LLC
Related Party Transaction [Line Items]
Contract services - related parties	300	300	900	900
Affiliated Entity | Contract Services Agreement | Riley Exploration Group, Inc
Related Party Transaction [Line Items]
Contract services - related parties	$ 300	$ 300	$ 900	$ 900

Revolving Credit Facility - Nar

Revolving Credit Facility - Narrative (Details)	Apr. 29, 2019	Oct. 25, 2022 USD ($)	Oct. 24, 2022 USD ($)	Sep. 30, 2022 USD ($)	Apr. 29, 2022 USD ($)	Apr. 28, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 28, 2017 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings				$ 48,000,000			$ 65,000,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing base					$ 200,000,000	$ 175,000,000		$ 25,000,000
Maximum facility amount								$ 500,000,000
Cash balance threshold, borrowing base					10%
Hedging requirement ratio for proved developed producing volumes, minimum					0%
Hedging requirement ratio for proved developed producing volumes, maximum					50%
Hedging requirement ratio for proved developed producing volumes, term	24 months
Hedging requirement ratio for proved developed producing volumes				0%
Weighted average interest rate				5.88%			3.10%
Available under the credit facility				$ 152,000,000
Line of Credit | Revolving Credit Facility | Subsequent Event
Line of Credit Facility [Line Items]
Borrowing base		$ 225,000,000	$ 200,000,000
Line of Credit | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.375%
Current ratio					1
Leverage ratio for restricted payments after pro forma effect					2
Line of Credit | Revolving Credit Facility | Minimum | SOFR Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Line of Credit | Revolving Credit Facility | Minimum | Base Rate Loan
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Line of Credit | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.50%
Leverage ratio					3.25
Leverage ratio for restricted payments					2.50
Cash balance threshold, prepayment of lines of credit					$ 15,000,000
Line of Credit | Revolving Credit Facility | Maximum | SOFR Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
Line of Credit | Revolving Credit Facility | Maximum | Base Rate Loan
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%

Revolving Credit Facility - Com

Revolving Credit Facility - Components of Interest Expense (Details) - Line of Credit - Revolving Credit Facility - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Line of Credit Facility [Line Items]
Interest expense, net of capitalized interest	$ 273	$ 728	$ 1,050	$ 2,645
Amortization of deferred financing costs	175	170	548	498
Unused commitment fees	137	65	362	156
Total interest expense, net	$ 585	$ 963	$ 1,960	$ 3,299

Members__Shareholders' Equity -

Members’/Shareholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands		2 Months Ended	3 Months Ended			9 Months Ended
	Jul. 02, 2022 USD ($) $ / shares shares	Feb. 26, 2021 USD ($) shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Jun. 30, 2021	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 shares
Class of Stock [Line Items]
Proceeds from issuance of common stock	$ 46,700					$ 0	$ 50,000
Dividends on common units/stock			$ 6,200	$ 5,500
Reverse stock split					0.083
Common stock outstanding post merger (in Shares) | shares		17,800,000	20,181,872			20,181,872		19,836,885
Share-based compensation expense			$ 704	751		$ 2,274	6,101
Unit-based compensation expense		$ 300	0	0		0	276
General and Administrative Expense
Class of Stock [Line Items]
Share-based compensation expense			$ 800	$ 800		$ 2,700	$ 6,100
2021 Long-Term Incentive Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in Shares) | shares		1,387,022
Common stock outstanding post merger (in Shares) | shares			444,549			444,549
2021 Long-Term Incentive Plan | Restricted Stock
Class of Stock [Line Items]
Additional share based compensation to be recognized			$ 9,400			$ 9,400
Weighted average life						30 months
Public Stock Offering
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in Shares) | shares	1,666,667
Public Stock Offering | Common Stock
Class of Stock [Line Items]
Sale of stock, price per share (USD per Share) | $ / shares	$ 30

Members__Shareholders' Equity_2

Members’/Shareholders' Equity - Restricted Stock Units Activity (Details) - Restricted Stock - 2021 Long-Term Incentive Plan	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Awards
Unvested, beginning balance (in Shares/Units) | shares	366,789
Granted (in Shares/Units) | shares	366,669
Vested (in Shares/Units) | shares	(96,838)
Forfeited (in Shares/Units) | shares	(3,625)
Unvested, ending balance (in Shares/Units) | shares	632,995
Weighted Average Grant Date Fair Value
Unvested, beginning balance (USD per Share/Unit) | $ / shares	$ 19.41
Granted (USD per Share/Unit) | $ / shares	17.61
Vested (USD per Share/Unit) | $ / shares	18.87
Forfeited (USD per Share/Unit) | $ / shares	23.46
Unvested, ending balance (USD per Share/Unit) | $ / shares	$ 18.45

Income Taxes - Components (Deta

Income Taxes - Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Current income tax expense:
Federal	$ 142	$ 2	$ 1,442	$ 2
State	291	284	486	52
Total current income tax expense	433	286	1,928	54
Deferred income tax expense (benefit):
Federal	15,460	(6,427)	22,439	14,202
State	424	2,204	763	(717)
Total deferred income tax expense (benefit)	15,884	(4,223)	23,202	13,485
Total income tax expense (benefit)	$ 16,317	$ (3,937)	$ 25,130	$ 13,539

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax at statutory rate	21%	21%	21%	21%
Nondeductible compensation	0.10%	(32.10%)	0.20%	(1.30%)
Transaction costs	0%	(47.70%)	0%	(2.10%)
Stock compensation	0%	0.20%	(0.10%)	(0.10%)
State income taxes, net of federal benefit	0.80%	22.90%	0.80%	(1.60%)
Change in tax status	0%	(0.50%)	0%	(53.40%)
Income subject to taxation by REP LLC's unitholders	0%	0%	0%	(15.80%)
Other	(0.50%)	0%	(0.30%)	0%
Effective income tax rate	21.40%	(36.20%)	21.60%	(53.30%)

Discontinued Operations and A_3

Discontinued Operations and Assets Held For Sale - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Apr. 02, 2021	Mar. 10, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) from discontinued operations before income taxes	$ 0	$ 775	$ 0	$ (18,738)
Income tax benefit (expense)	0	1	0	(59)
Gain (Loss) on Discontinued Operations	$ 0	776	$ 0	(18,797)
Kansas Properties | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration from discontinued operations					$ 3,300	$ 3,500
Consideration from discontinued operations including closing adjustments					$ 3,300
Total revenues		0		0
Lease operating expenses		0		115
Goodwill impairment		0		18,516
Total expenses		0		18,631
Other income (expenses)		775		(107)
Gain (loss) from discontinued operations before income taxes		775		(18,738)
Income tax benefit (expense)		1		(59)
Gain (Loss) on Discontinued Operations		776		(18,797)
Kansas Properties | Discontinued Operations, Disposed of by Sale | Oil and natural gas sales, net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues		$ 0		$ 0

Net Income (Loss) Per Share_U_3

Net Income (Loss) Per Share/Unit - Narrative (Details)		3 Months Ended
	Feb. 26, 2021	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Reverse stock split		0.083
Tengasco
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Reverse stock split	0.083

Net Income (Loss) Per Share_U_4

Net Income (Loss) Per Share/Unit - Computation of Basic and Diluted Net Loss Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income (loss) - Diluted	$ 59,817	$ 14,878	$ 91,204	$ (38,928)
Less: Dividends on preferred units	0	0	0	(574)
Net income (loss) attributable to common shareholders/unitholders - Basic	$ 59,817	$ 14,878	$ 91,204	$ (39,502)
Basic weighted-average common shares/units outstanding (in Shares/Units)	19,546	19,434	19,530	17,218
Effecting of dilutive securities:
Restricted shares/units (in Shares/Units)	41	106	102	0
Diluted weighted-average common shares/units outstanding (in Shares/Units)	19,587	19,540	19,632	17,218
Basic net income (loss) per common share/unit (USD per Share/Unit)	$ 3.06	$ 0.77	$ 4.67	$ (2.29)
Diluted net income (loss) per common share/unit (USD per Share/Unit)	$ 3.05	$ 0.76	$ 4.65	$ (2.29)

Net Income (Loss) Per Share_U_5

Net Income (Loss) Per Share/Unit - Schedule of Anti-Dilutive Shares/Units (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restricted shares/units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive units (in Shares/Units)	293	127	232	228

Commitment and Contingencies (D

Commitment and Contingencies (Details)		1 Months Ended
	Oct. 13, 2022 USD ($)	Aug. 31, 2022	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 31, 2021 agreement	Apr. 02, 2021 USD ($)	Mar. 10, 2021 USD ($)
Loss Contingencies [Line Items]
Environmental liabilities				$ 0	$ 0
EOR Project
Loss Contingencies [Line Items]
Purchase obligation, number of agreements entered into | agreement						2
Drilling Program, Fiscal 2023 | Forecast
Loss Contingencies [Line Items]
Purchase obligation			$ 10,100,000
Stakeholder
Loss Contingencies [Line Items]
Purchase obligation, delivery period		7 years
Hoactzin Partners, L.P. | Settled Litigation | Subsequent Event
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 80,000
Discontinued Operations, Disposed of by Sale | Kansas Properties
Loss Contingencies [Line Items]
Consideration from discontinued operations							$ 3,300,000	$ 3,500,000

Subsequent Events (Details)

Subsequent Events (Details) - Revolving Credit Facility - Line of Credit - USD ($)	Oct. 10, 2022	Oct. 25, 2022	Oct. 24, 2022	Apr. 29, 2022	Apr. 28, 2022	Sep. 28, 2017
Subsequent Event [Line Items]
Borrowing base				$ 200,000,000	$ 175,000,000	$ 25,000,000
Subsequent Event
Subsequent Event [Line Items]
Cash dividend declared (USD per Share/Unit)	$ 0.34
Borrowing base		$ 225,000,000	$ 200,000,000

Uncategorized Items - rep-20220

Label	Element	Value
Member Units [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ (19,117,000)
Retained Earnings [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ (32,761,000)