W&T Offshore (WTI) 10-K 4 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 28, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001288403
Entity Registrant Name	W&T OFFSHORE INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-32414
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	72-1121985
Entity Address, Address Line One	5718 Westheimer Road, Suite 700
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77057-5745
City Area Code	713
Local Phone Number	626-8525
Title of 12(b) Security	Common Stock, par value $0.00001
Trading Symbol	WTI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 213,418,732
Entity Common Stock, Shares Outstanding		142,304,770

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 43,726	$ 32,433
Receivables:
Oil and natural gas sales	38,830	57,367
Joint interest, net	10,840	19,400
Income taxes	0	1,861
Total receivables	49,670	78,628
Prepaid expenses and other assets (Note 1)	13,832	30,691
Total current assets	107,228	141,752
Oil and natural gas properties and other, net – at cost: (Note 1)	686,878	748,798
Restricted deposits for asset retirement obligations	29,675	15,806
Deferred income taxes	94,331	63,916
Other assets (Note 1)	22,470	33,447
Total assets	940,582	1,003,719
Current liabilities:
Accounts payable	48,612	102,344
Undistributed oil and natural gas proceeds	19,167	29,450
Advances from joint interest partners	0	5,279
Asset retirement obligations	17,188	21,991
Accrued liabilities (Note 1)	29,880	30,896
Income tax payable	153	0
Total current liabilities	115,000	189,960
Long-term debt: (Note 2)
Principal	632,460	730,000
Carrying value adjustments	(7,174)	(10,467)
Long-term debt – carrying value	625,286	719,533
Asset retirement obligations, less current portion	375,516	333,603
Other liabilities (Note 1)	32,938	9,988
Deferred income taxes	128	0
Commitments and contingencies (Note 17)	0	0
Shareholders’ deficit:
Preferred stock, $0.00001 par value; 20,000 shares authorized; 0 issued at December 31, 2020 and December 31, 2019	0	0
Common stock, $0.00001 par value; 200,000 shares authorized; 145,174 issued and 142,305 outstanding at December 31, 2020 and 144,538 issued and 141,669 outstanding at December 31, 2019	1	1
Additional paid-in capital	550,339	547,050
Retained deficit	(734,459)	(772,249)
Treasury stock, at cost; 2,869 shares at December 31, 2020 and December 31, 2019	(24,167)	(24,167)
Total shareholders’ deficit	(208,286)	(249,365)
Total liabilities and shareholders’ deficit	$ 940,582	$ 1,003,719

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	200,000	200,000
Common stock, shares issued (in shares)	145,174	144,538
Common stock, shares outstanding (in shares)	142,305	141,669
Treasury stock, shares (in shares)	2,869	2,869

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 346,634	$ 534,896	$ 580,706
Operating costs and expenses:
Lease operating expenses	162,857	184,281	153,262
Production taxes	4,918	2,524	1,832
Gathering and transportation	16,029	25,950	22,382
Depreciation, depletion and amortization	97,763	129,038	131,423
Asset retirement obligations accretion	22,521	19,460	18,431
General and administrative expenses	41,745	55,107	60,147
Derivative loss (gain)	(23,808)	59,887	(53,798)
Total costs and expenses	322,025	476,247	333,679
Operating income	24,609	58,649	247,027
Interest expense, net	61,463	59,569	48,645
Gain on debt transactions	(47,469)	0	(47,109)
Other expense (income), net	2,978	188	(3,871)
Income (loss) before income tax (benefit) expense	7,637	(1,108)	249,362
Income tax (benefit) expense	(30,153)	(75,194)	535
Net income	$ 37,790	$ 74,086	$ 248,827
Basic and diluted earnings per common share (in dollars per share)	$ 0.26	$ 0.52	$ 1.72
Oil and Condensate [Member]
Revenues:
Total revenues	$ 216,419	$ 399,790	$ 438,798
Natural Gas Liquids [Member]
Revenues:
Total revenues	19,101	22,373	37,127
Natural Gas, Production [Member]
Revenues:
Total revenues	99,300	106,347	99,629
Product and Service, Other [Member]
Revenues:
Total revenues	$ 11,814	$ 6,386	$ 5,152

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balances (in shares) at Dec. 31, 2017	139,091			2,869
Balances at Dec. 31, 2017	$ 1	$ 545,820	$ (1,095,162)	$ (24,167)	$ (573,508)
Share-based compensation	$ 0	3,540	0	$ 0	3,540
Stock issued (in shares)	1,553			0
Stock issued	$ 0	0	0	$ 0	0
RSUs surrendered for payroll taxes	0	(3,655)	0	0	(3,655)
Net income	0	0	248,827	0	248,827
Share-based compensation	$ 0	3,540	0	$ 0	3,540
Balances (in shares) at Dec. 31, 2018	140,644			2,869
Balances at Dec. 31, 2018	$ 1	545,705	(846,335)	$ (24,167)	(324,796)
Share-based compensation	$ 0	3,690	0	$ 0	3,690
Stock issued (in shares)	1,025			0
Stock issued	$ 0	0	0	$ 0	0
RSUs surrendered for payroll taxes	0	(2,345)	0	0	(2,345)
Net income	0	0	74,086	0	74,086
Share-based compensation	$ 0	3,690	0	$ 0	3,690
Balances (in shares) at Dec. 31, 2019	141,669			2,869
Balances at Dec. 31, 2019	$ 1	547,050	(772,249)	$ (24,167)	(249,365)
Share-based compensation	$ 0	3,959	0	$ 0	3,959
Stock issued (in shares)	636			0
Stock issued	$ 0	0	0	$ 0	0
RSUs surrendered for payroll taxes	0	(670)	0	0	(670)
Net income	0	0	37,790	0	37,790
Share-based compensation	$ 0	3,959	0	$ 0	3,959
Balances (in shares) at Dec. 31, 2020	142,305			2,869
Balances at Dec. 31, 2020	$ 1	$ 550,339	$ (734,459)	$ (24,167)	$ (208,286)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net income	$ 37,790	$ 74,086	$ 248,827
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	120,284	148,498	149,854
Amortization of debt items and other items	6,834	5,514	2,850
Share-based compensation	3,959	3,690	3,540
Derivative loss (gain)	(23,808)	59,887	(53,798)
Derivatives cash receipts (payments), net	45,196	13,941	(28,164)
Gain on debt transactions	(47,469)	0	(47,109)
Deferred income taxes	(30,287)	(64,102)	500
Changes in operating assets and liabilities:
Oil and natural gas receivables	18,537	(9,563)	(2,361)
Joint interest receivables	8,561	(4,766)	5,120
Income taxes	2,014	52,214	11,028
Prepaid expenses and other assets	9,563	(9,346)	3,383
Asset retirement obligation settlements	(3,339)	(11,443)	(28,617)
Cash advances from JV partners	2,028	(15,347)	16,629
Accounts payable, accrued liabilities and other	(41,354)	(11,036)	40,081
Net cash provided by operating activities	108,509	232,227	321,763
Investing activities:
Investment in oil and natural gas properties and equipment	(17,632)	(137,816)	(90,741)
Changes in operating assets and liabilities associated with investing activities	(26,535)	12,110	(15,450)
Acquisition of property interests	(2,919)	(188,019)	(16,782)
Proceeds from sales of assets, net	0	0	56,588
Purchases of furniture, fixtures and other	(530)	(89)	0
Net cash used in investing activities	(47,616)	(313,814)	(66,385)
Financing activities:
Borrowings on credit facility	25,000	150,000	61,000
Repayments on credit facility	(50,000)	(66,000)	(40,000)
Purchase of Senior Second Lien Notes	(23,930)	0	0
Issuance of Senior Second Lien Notes	0	0	625,000
Extinguishment of debt – principal	0	0	(903,194)
Extinguishment of debt – premiums	0	0	(21,850)
Payment of interest on 1.5 Lien Term Loan	0	0	(6,623)
Debt transactions costs	0	(939)	(17,457)
Other	(670)	(2,334)	(3,622)
Net cash (used in) provided by financing activities	(49,600)	80,727	(321,143)
Increase (decrease) in cash and cash equivalents	11,293	(860)	(65,765)
Cash and cash equivalents, beginning of period	32,433	33,293	99,058
Cash and cash equivalents, end of period	43,726	32,433	33,293
Second Lien PIK Toggle Notes [Member]
Financing activities:
Payment of interest on Lien PIK Toggle Notes	0	0	(9,725)
Third Lien PIK Toggle Notes [Member]
Financing activities:
Payment of interest on Lien PIK Toggle Notes	$ 0	$ 0	$ (4,672)

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Operations W&T Offshore, Inc. and subsidiaries, referred to herein as “W&T,” “we,” “us,” “our,” or the “Company”, is an independent oil and natural gas producer with substantially all of its operations in the Gulf of Mexico. We are active in the exploration, development and acquisition of oil and natural gas properties. Our interest in fields, leases, structures and equipment are primarily owned by the parent company, W&T Offshore, Inc. (on a stand-alone basis, the “Parent Company”) and our 100% 4. Basis of Presentation Our consolidated financial statements include the accounts of W&T Offshore, Inc. and its majority-owned subsidiaries. Our interests in oil and gas joint ventures are proportionately consolidated. All significant intercompany transactions and amounts have been eliminated for all years presented. Our consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and the appropriate rules and regulations of the Securities and Exchange Commission (“SEC”). Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods and the reported amounts of proved oil and natural gas reserves. Actual results could differ from those estimates. Realized Prices The price we receive for our crude oil, natural gas liquids (“NGLs”) and natural gas production directly affects our revenues, profitability, cash flows, liquidity, access to capital, proved reserves and future rate of growth. The average realized prices of these commodities decreased in 2 020 2019. Accounting Standard Updates Effective January 1, 2020 In June 2016, No. 2016 13, Financial Instruments – Credit Losses Topic 326 2016 13” not not In August 2017, No. 2017 12, Derivatives and Hedging (Topic 815 2017 12” 2017 12 not not Cash Equivalents We consider all highly liquid investments purchased with original or remaining maturities of three Revenue Recognition We recognize revenue from the sale of crude oil, NGLs, and natural gas when our performance obligations are satisfied. Our contracts with customers are primarily short-term (less than 12 We record oil and natural gas revenues based upon physical deliveries to our customers, which can be different from our net revenue ownership interest in field production. These differences create imbalances that we recognize as a liability only when the estimated remaining recoverable reserves of a property will not not December 31, 2020 2019 Concentration of Credit Risk Our customers are primarily large integrated oil and natural gas companies and large commodity trading companies. The majority of our production is sold utilizing month-to-month contracts that are based on bid prices. We attempt to minimize our credit risk exposure to purchasers of our oil and natural gas, joint interest owners, derivative counterparties and other third The following table identifies customers from whom we derived 10% Year Ended December 31, 2020 2019 2018 Customer BP Products North America 39 % 40 % 20 % Mercuria Energy America Inc. 10 % ** ** Shell Trading (US) Co./ Shell Energy N.A. ** 11 % 30 % Vitol Inc. ** 12 % 14 % Williams Field Services 13 % ** ** ** Less than 10% We believe that the loss of any of the customers above would not Accounts Receivables and Allowance for Credit Losses Our accounts receivables are recorded at their historical cost, less an allowance for credit losses. The carrying value approximates fair value because of the short-term nature of such accounts. In addition to receivables from sales of our production to our customers, we also have receivables from joint interest owners on properties we operate. In certain arrangements, we have the ability to withhold future revenue disbursements to recover amounts due us from the joint interest partners. A loss methodology is used to develop the allowance for credit losses on material receivables to estimate the net amount to be collected. The loss methodology uses historical data, current market conditions and forecasts of future economic conditions. The following table describes the balance and changes to the allowance for credit losses (in thousands): 2020 2019 2018 Allowance for credit losses, beginning of period $ 9,898 $ 9,692 $ 9,114 Additional provisions for the year 417 206 1,233 Uncollectible accounts written off or collected (1,192 ) — (655 ) Allowance for credit losses, end of period $ 9,123 $ 9,898 $ 9,692 Prepaid expenses and other assets Amounts recorded in Prepaid expenses and other assets one December 31, 2020 2019 Derivatives – current (1) $ 2,752 $ 7,266 Unamortized bonds/insurance premiums 4,717 4,357 Prepaid deposits related to royalties 4,473 7,980 Prepayment to vendors 1,429 10,202 Other 461 886 Prepaid expenses and other assets $ 13,832 $ 30,691 ( 1 Includes both open and closed contracts. Properties and Equipment We use the full-cost method of accounting for oil and natural gas properties and equipment, which are recorded at cost. Under this method, all costs associated with the acquisition, exploration, development and abandonment of oil and natural gas properties are capitalized. Acquisition costs include costs incurred to purchase, lease or otherwise acquire properties. Exploration costs include costs of drilling exploratory wells and external geological and geophysical costs, which mainly consist of seismic costs. Development costs include the cost of drilling development wells and costs of completions, platforms, facilities and pipelines. Costs associated with production, certain geological and geophysical costs and general and administrative costs are expensed in the period incurred. Oil and natural gas properties included in the amortization base are amortized using the units-of-production method based on production and estimates of proved reserve quantities. In addition to costs associated with evaluated properties and capitalized asset retirement obligations (“ARO”), the amortization base includes estimated future development costs to be incurred in developing proved reserves as well as estimated plugging and abandonment costs, net of salvage value, related to developing proved reserves. Future development costs related to proved reserves are not Sales of proved and unproved oil and natural gas properties, whether or not no Furniture, fixtures and non-oil and natural gas property and equipment are depreciated using the straight-line method based on the estimated useful lives of the respective assets, generally ranging from five seven Oil and Natural Gas Properties and Other, Net – at cost Oil and natural gas properties and equipment are recorded at cost using the full cost method. There were no December 31, 2020 2019 Oil and natural gas properties and equipment $ 8,567,509 $ 8,532,196 Furniture, fixtures and other 20,847 20,317 Total property and equipment 8,588,356 8,552,513 Less accumulated depreciation, depletion and amortization 7,901,478 7,803,715 Oil and natural gas properties and other, net $ 686,878 $ 748,798 Ceiling Test Write-Down Under the full-cost method of accounting, we are required to perform a “ceiling test” calculation quarterly, which determines a limit on the book value of our oil and natural gas properties. If the net capitalized cost of oil and natural gas properties (including capitalized ARO) net of related deferred income taxes exceeds the ceiling test limit, the excess is charged to expense on a pre-tax basis and separately disclosed. Any such write downs are not 10%; not first twelve We did not 2020, 2019 2018. 2020, may 2021 Asset Retirement Obligations We are required to record a separate liability for the present value of our ARO, with an offsetting increase to the related oil and natural gas properties on our balance sheet. We have significant obligations to plug and abandon well bores, remove our platforms, pipelines, facilities and equipment and restore the land or seabed at the end of oil and natural gas production operations. These obligations are primarily associated with plugging and abandoning wells, removing pipelines, removing and disposing of offshore platforms and site cleanup. Estimating such costs requires us to make judgments on both the costs and the timing of ARO. Asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations, which can substantially affect our estimates of these future costs from period to period. See Note 6 Oil and Natural Gas Reserve Information We use the unweighted average of first 12 12 may five 19 Derivative Financial Instruments We have exposure related to commodity prices and have used various derivative instruments to manage our exposure to commodity price risk from sales of oil and natural gas. We do not 2020, 2019 2018, December 31, 2020 may 2020, 2019 2018, not Derivative instruments are recorded on the balance sheet as an asset or a liability at fair value. We have elected not may may not Fair Value of Financial Instruments We include fair value information in the notes to our consolidated financial statements when the fair value of our financial instruments is different from the book value or it is required by applicable guidance. We believe that the book value of our cash and cash equivalents, receivables, accounts payable and accrued liabilities materially approximates fair value due to the short-term nature and the terms of these instruments. We believe that the book value of our restricted deposits approximates fair value as deposits are in cash or short-term investments. Income Taxes We use the liability method of accounting for income taxes in accordance with the Income Taxes not not not 12 Other Assets (long-term) The major categories recorded in Other assets December 31, 2020 2019 ROU assets (Note 7) $ 11,509 $ 7,936 Unamortized debt issuance costs 2,094 3,798 Investment in White Cap, LLC 2,699 2,590 Derivatives 2,762 2,653 Unamortized brokerage fee for Monza 626 3,423 Proportional consolidation of Monza's other assets (Note 4) 1,782 5,308 Appeal bond deposits — 6,925 Other 998 814 Total other assets $ 22,470 $ 33,447 Accrued Liabilities The major categories recorded in Accrued liabilities December 31, 2020 2019 Accrued interest $ 10,389 $ 10,180 Accrued salaries/payroll taxes/benefits 4,009 2,377 Incentive compensation plans — 9,794 Litigation accruals 436 3,673 Lease liability (Note 7) 394 2,716 Derivatives 13,620 1,785 Other 1,032 371 Total accrued liabilities $ 29,880 $ 30,896 Paycheck Protection Program ("PPP") On April 15, 2020, no 20 20, The Company submitted an application to the SBA on August 20, 2020, not not We have elected to follow the income approach under IAS 20 December 31, 2020 Lease operating expenses General and administrative expenses Interest expense, net December 31, 2020. may April 2022 1%. Debt Issuance Costs Debt issuance costs associated with the Credit Agreement are amortized using the straight-line method over the scheduled maturity of the debt. Debt issuance costs associated with all other debt are deferred and amortized over the scheduled maturity of the debt utilizing the effective interest method. Unamortized debt issuance costs associated with our Credit Agreement is reported within Other Assets Long-term debt – carrying value 2 Discounts Provided on Debt Issuance Discounts were recorded in Long-term debt – carrying value Gain on Debt Transactions During 2020, 2018, 2016, 2 Other Liabilities (long-term) The major categories recorded in Other liabilities December 31, 2020 2019 Dispute related to royalty deductions $ 5,467 $ 4,687 Dispute related to royalty-in-kind — 250 Lease liability (Note 7) 11,360 4,419 Derivatives 4,384 — Black Elk escrow 11,103 — Other 624 632 Total other liabilities (long-term) $ 32,938 $ 9,988 Share-Based Compensation Compensation cost for share-based payments to employees and non-employee directors is based on the fair value of the equity instrument on the date of grant and is recognized over the period during which the recipient is required to provide service in exchange for the award. The fair value for equity instruments subject to only time or to Company performance measures was determined using the closing price of the Company’s common stock at the date of grant. We recognize share-based compensation expense on a straight line basis over the period during which the recipient is required to provide service in exchange for the award. Estimates are made for forfeitures during the vesting period, resulting in the recognition of compensation cost only for those awards that are estimated to vest and estimated forfeitures are adjusted to actual forfeitures when the equity instrument vests. See Note 10 Other Expense (Income), Net For 2020, 4 2019, 2018, Earnings Per Share Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share under the two 13

Note 2 - Long-term Debt

Note 2 - Long-term Debt	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	2. The components of our long-term debt are presented in the following tables (in thousands): December 31, 2020 2019 Credit Agreement borrowings $ 80,000 $ 105,000 Senior Second Lien Notes: Principal 552,460 625,000 Unamortized debt issuance costs (7,174 ) (10,467 ) Total Senior Second Lien Notes 545,286 614,533 Total long-term debt $ 625,286 $ 719,533 Aggregate annual maturities of amounts recorded for long-term debt as of December 31, 2020 2021–$0.0; 2022–$80.0; 2023–$552.5. 9.75% 2023 On October 18, 2018, 2023 9.75% November 1, 2023, May 1 November 1 During the year ended December 31, 2020 , On and after November 1, 2020, may 12 November 1, 2020, 12 November 1, 2021, November 1, 2022 The Senior Second Lien Notes are secured by a second not no Credit Agreement Concurrently with the issuance of the Senior Second Lien Notes, we renewed our credit facility by entering into the Sixth Amended and Restated Credit Agreement (the “Credit Agreement”), dated as of October 18, 2018, October 18, 2022. December 31, 2020, ● The borrowing base is $215.0 million. ● Letters of credit may ● From the period ended June 30, 2020 December 31, 2021 ( not 1.00 March 31, 2022 ● During the Waiver Period, the Company will be required to maintain a 2.00 to 1.00 first four ● The Current Ratio, as defined in the Credit Agreement, must be maintained at greater than 1.00 to 1.00. ● We are required to have deposit accounts only with banks under the Credit Agreement with certain exceptions. ● We are required to provide first ● To the extent there are borrowings, the Applicable Margins, as defined in the Credit Agreement, for Eurodollar Loans range from 2.75% to 3.75% per annum and the Applicable Margins for ABR loans range from 1.75% to 2.75% per annum. The specific Applicable Margin rate is based on the Borrowing Base Utilization Percentage. ● The commitment fee is 50.0 basis points. ● We are required to have derivative contracts for a minimum of 50% of projected production for 18 may Availability under the Credit Agreement is subject to semi-annual redeterminations of our borrowing base to occur on or before May 15 November 14 may first Borrowings outstanding under the Credit Agreement are reported in the table above. As of December 31, 2020 2019 As of December 31, 2020 On January 6, 2021, January 6, 2021, January 6, 2021, October 18, 2018. ● Reduces the borrowing base under the Credit Agreement from $215.0 million to $190.0 million. ● Amends and waives certain hedging requirements for projected natural gas production volumes of the Company to the extent that certain identified existing hedge contracts may December 31, 2022 December 13, 2020 December 31, 2022 not 50% ● Establishes procedures for the Company to propose additional hedge counterparties and directs the administrative agent to enter into hedge intercreditor agreements with one ● Establishes a customary anti-cash hoarding prepayment requirement in the event the cash balances of the Company exceed $25.0 million (subject to customary adjustments) at the end of any calendar month. Under the Fifth Amendment, the lenders under the Credit Agreement have also consented to and executed certain conforming amendments necessitated by the Fifth Amendment proposed to be made to that certain Intercreditor Agreement among Toronto Dominion (Texas) LLC, as Original Priority Lien Agent and Wilmington Trust, National Association, as Second Lien Trustee and as Second Lien Collateral Agent. For information about fair value measurements of our long-term debt, refer to Note 3. Refinancing Transaction in 2018 On October 18, 2018, 2018 not 2018. Prior Debt Instruments The following debt instruments were repurchased and retired, repaid or redeemed, including interest and applicable premiums as part of the Refinancing Transaction on October 18, 2018: ● 11.00% 1.5 “1.5 November 15, 2019, October 18, 2018. ● 9.00% Term Loan, due May 15, 2020, October 18, 2018 ( ● 9.00%/ 10.75% May 15, 2020, October 18, 2018. ● 8.50% 10.00% June 15, 2021, October 18, 2018. ● 8.500% Senior Notes (the “Unsecured Senior Notes”), due June 15, 2019, October 18, 2018.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. Under GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, whether using an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, the Company’s credit risk. Valuation techniques are generally classified into three one ● Level 1 ● Level 2 not ● Level 3 The following tables present the fair value of our derivatives and long-term debt (in thousands): December 31, 2020 2019 Assets: Derivatives instruments - open contracts, current $ 2,705 $ 6,921 Derivatives instruments - open contracts, long-term 2,762 2,653 Liabilities: Derivatives instruments - open contracts, current 13,291 1,785 Derivatives instruments - open contracts, long-term 4,384 — December 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Liabilities: Credit Agreement $ 80,000 $ 80,000 $ 105,000 $ 105,000 Senior Second Lien Notes 545,286 393,352 614,533 597,188 As of December 31, 2020 2019, 2 The fair value of our Senior Second Lien Notes is based on quoted prices, although the market is not 2.

Note 4 - Joint Venture Drilling

Note 4 - Joint Venture Drilling Program	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Joint Venture Drilling Program [Text Block]	4. Joint Venture Drilling Program In March 2018, two 2018 seven nine December 31, 2020 The members of Monza are made up of third third The Joint Venture Drilling Program is structured so that we initially receive an aggregate of 30.0% 20.0% Monza is an entity separate from any other entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of Monza’s assets prior to any value in Monza becoming available to holders of its equity. The assets of Monza are not Through December 31, 2020, nine six December 31, 2020. seven nine December 31, 2020. Through December 31, 2020, December 31, 2020 Consolidation and Carrying Amounts Our interest in Monza is considered to be a variable interest that we account for using proportional consolidation. Through December 31, 2020 no not not December 31, 2020 Oil and natural gas properties and other, net , $1.8 million in Other assets, $0.2 million in ARO and $1.3 million, net, increase in working capital in connection with our proportional interest in Monza’s assets and liabilities. As of December 31, 2019, Oil and natural gas properties and other, net , $5.3 million in Other assets, $0.1 million in ARO and $2.7 million, net, increase in working capital in connection with our proportional interest in Monza’s assets and liabilities. A 2020 2019, December 31, 2020 2019 Advances from joint interest partners For 2020, Total revenues and $12.1 million in Operating costs and expenses in connection with our proportional interest in Monza’s operations. For 2019, Total revenues and $7.4 million in Operating costs and expenses in connection with our proportional interest in Monza’s operations.

Note 5 - Acquisitions and Dives

Note 5 - Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Combination Disclosure [Text Block]	5. Mobile Bay Properties In August 2019, January 1, 2019, not 2019 Oil and natural gas properties and other, net - at cost: $ 192,373 Other assets 4,838 Current liabilities 1,559 Asset retirement obligations 21,684 Other liabilities 4,132 During 2020, two January 1, 2020, Magnolia Field In December 2019, 783 784 October 1, 2019, not 2019 Oil and natural gas properties and other, net - at cost: $ 23,791 Asset retirement obligations 7,842 During 2020, October 1, 2019, Heidelberg Field On April 5, 2018, 859, 903 904 January 1, 2018, not 2028 Permian Basin On September 28, 2018,

Note 6 - Asset Retirement Oblig

Note 6 - Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Asset Retirement Obligation Disclosure [Text Block]	6. Asset retirement obligations associated with the retirement and decommissioning of tangible long-lived assets are required to be recognized as a liability in the period in which a legal obligation is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated asset. The cost of the tangible asset, including the initially recognized ARO, is depleted such that the cost of the ARO is recognized over the useful life of the asset. The fair value of the ARO is measured using expected cash outflows associated with the ARO, discounted at our credit-adjusted risk-free rate when the liability is initially recorded. Accretion expense is recognized over time as the discounted liability is accreted to its expected settlement value. The following table is a reconciliation of our ARO (in thousands): Year Ended December 31, 2020 2019 Asset retirement obligations, beginning of period $ 355,594 $ 310,137 Liabilities settled (3,339 ) (11,443 ) Accretion of discount 22,521 19,460 Liabilities incurred and assumed through acquisition 4,860 29,887 Revisions of estimated liabilities (1) 13,068 7,553 Asset retirement obligations, end of period 392,704 355,594 Less current portion 17,188 21,991 Long-term $ 375,516 $ 333,603 ( 1 Revisions in 2020 2019

Note 7 - Leases

Note 7 - Leases	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7. Our lease contracts consist of office leases, a land lease and various pipeline right-of-way contracts. For these contracts, a right-of-use ("ROU") asset and lease liability was established based on our assumptions of the term, inflation rates and incremental borrowing rates. At inception, contracts are reviewed to determine whether the agreement contains a lease. To the extent an arrangement is determined to include a lease, it is classified as either an operating or a finance lease, which dictates the pattern of expense recognition in the income statement. All of these lease contracts are operating leases. During 2020 , December 2020 . February 2032 2019, ten 10 five 2085. The amounts disclosed herein primarily represent costs associated with properties operated by the Company that are presented on a gross basis and do not December 31, 2020 2019 Operating lease cost, excluding short-term leases $ 3,060 $ 2,902 Short-term lease cost (1) 1,633 22,152 Total lease cost $ 4,693 $ 25,054 ( 1 Short-term lease costs are reported at gross amounts and primarily represent costs incurred for drilling rigs, most of which are short-term contracts not Oil and natural gas properties, net The present value of the fixed lease payments recorded as the Company’s right-of-use asset and liability, adjusted for initial direct costs and incentives are as follows (in thousands): December 31, 2020 2019 ROU assets $ 11,509 $ 7,936 Lease liability: Accrued liabilities $ 394 $ 2,716 Other liabilities 11,360 4,419 Total lease liability $ 11,754 $ 7,135 The table below presents the weighted average remaining lease term and discount rate related to leases (in thousands): December 31, 2020 2019 Weighted average remaining lease term: 14.8 years 14.3 years Weighted average discount rate: 10.2 % 10.4 % The table below presents the supplemental cash flow information related to leases (in thousands): December 31, 2020 2019 Operating cash outflow from operating leases $ 1,825 $ 1,827 Right-of-use assets obtained in exchange for new operating lease liabilities $ 5,142 $ 6,373 Undiscounted future minimum payments as of December 31, 2020 2021 $ 394 2022 1,134 2023 1,625 2024 2,023 2025 1,512 Thereafter 17,461 Total lease payments 24,149 Present value adjustment (12,395 ) Total $ 11,754

Note 8 - Restricted Deposits fo

Note 8 - Restricted Deposits for ARO	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Restricted Assets Disclosure [Text Block]	8. Restricted deposits as of December 31, 2020 2019 Pursuant to the Purchase and Sale Agreement with Total E&P USA Inc. (“Total E&P”), security for future plugging and abandonment of certain oil and natural gas properties is required either through surety bonds or payments to an escrow account or a combination thereof. Monthly payments are made to an escrow account and these funds are returned to us once verification is made that the security amount requirements have been met. See Note 15 During the year ended December 31, 2020, 11 Restricted Deposits for Asset Retirement Obligations December 31, 2020 . Other Liabilities December 31, 2020

Note 9 - Derivative Financial I

Note 9 - Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	9. During 2020, 2019 2018, December 31, 2020 Crude Oil: Open Swap Contracts, Priced off WTI (NYMEX) Period Notional Quantity (Bbls/day) Notional Quantity (Bbls) Weighted Strike Price Jan 2021 - Dec 2021 4,000 1,460,000 $ 42.06 Jan 2022 - Feb 2022 3,000 177,000 $ 42.98 Mar 2022 - May 2022 2,044 188,006 $ 42.33 Crude Oil: Open Collar Contracts - Priced off WTI (NYMEX) Period Notional Quantity (Bbls/day) Notional Quantity (Bbls) Put Option Weighted Strike Price (Bought) Call Option Weighted Strike Price (Sold) Jan.2021 - Feb 2022 1,770 750,422 $ 35.00 $ 50.00 Mar 2022 - May 2022 2,000 184,000 $ 35.00 $ 48.50 Natural Gas: Open Call Contracts, Bought, Priced off Henry Hub (NYMEX) Period Notional Quantity (MMBtu/day) Notional Quantity (MMBtu) Strike Price Feb 2021 - Dec. 2022 40,000 27,960,000 $ 3.00 Natural Gas: Open Swap Contracts, Bought, Priced off Henry Hub (NYMEX) Period Notional Quantity (MMBtu/day) Notional Quantity (MMBtu) Strike Price Jan 2021 - Dec 2021 10,000 3,650,000 $ 2.62 Jan 2022 20,000 620,000 $ 2.79 Feb 2022 30,000 840,000 $ 2.79 Mar 2022 - May 2022 10,544 970,075 $ 2.69 Natural Gas: Open Collar Contracts, Priced off Henry Hub (NYMEX) Period Notional Quantity (MMBtu/day) Notional Quantity (MMBtu) Put Option Weighted Strike Price (Bought) Call Option Weighted Strike Price (Sold) Jan 2021 - Dec 2022 40,000 29,200,000 $ 1.83 $ 3.00 Jan 2021 - Dec 2021 30,000 10,950,000 $ 2.18 $ 3.00 Jan 2022 - Feb 2022 30,000 1,770,000 $ 2.20 $ 4.50 Mar 2022 - May 2022 10,000 92,000 $ 2.25 $ 3.40 The following amounts were recorded in the Consolidated Balance Sheets in the categories presented and include the fair value of open contracts and closed contracts, which had not December 31, 2020 2019 Prepaid and other assets – current $ 2,752 $ 7,266 Other assets – non-current 2,762 2,653 Accrued liabilities 13,620 1,785 The amounts recorded on the Consolidated Balance Sheets are on a gross basis. If these were recorded on a net settlement basis, it would not Changes in the fair value and settlements of our commodity derivative contracts were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Derivative loss (gain) $ (23,808 ) $ 59,887 $ (53,798 ) Cash receipts (payments), net, on commodity derivative contract settlements, which include derivative premium payments, are included within Net cash provided by operating activities Year Ended December 31, 2020 2019 2018 Derivative cash receipts (payments), net $ 45,196 $ 13,941 $ (28,164 )

Note 10 - Share-based Awards an

Note 10 - Share-based Awards and Cash-based Awards	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. Incentive Compensation Plan The W&T Offshore, Inc. Amended and Restated Incentive Compensation Plan, and subsequent amendments, (the “Plan”) was approved by our shareholders. The Plan covers the Company’s eligible employees and consultants and includes both cash and share-based compensation awards. The Plan grants the Compensation Committee of the Board of Directors administrative authority over all participants, and grants the CEO with authority over the administration of awards granted to participants that are not 16 Pursuant to the terms of the Plan, the Compensation Committee establishes the vesting or performance criteria applicable to the award and may may may may 10 90 Share-based Awards: Restricted Stock Units During 2019 2018, no 2020. As of December 31, 2020, 10,347,591shares one one 2020, 2019 2018, RSUs currently outstanding relate to the 2019 December second We recognize compensation cost for share-based payments to employees over the period during which the recipient is required to provide service in exchange for the award. Compensation cost is based on the fair value of the equity instrument on the date of grant. The fair values for the RSUs granted during 2019 2018 All RSUs awarded are subject to forfeiture until vested and cannot be sold, transferred or otherwise disposed of during the restricted period. During 2019, net income before net interest expense; income tax (benefit) expense; depreciation, depletion, amortization and accretion; unrealized commodity derivative gain or loss; amortization of derivative premiums; bad debt reserve; litigation; and other 2019 2019. 2019, During 2018, 2018 2018. 2018, A summary of activity related to RSUs is as follows: 2020 2019 2018 Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Nonvested, beginning of period 1,614,722 $ 5.73 3,355,917 $ 3.90 5,765,251 $ 2.48 Granted - - 994,698 4.51 988,955 6.90 Vested (787,203 ) 6.90 (1,475,373 ) 2.76 (2,261,665 ) 2.21 Forfeited (63,831 ) 5.80 (1,260,520 ) 3.37 (1,136,624 ) 2.68 Nonvested, end of period 763,688 $ 4.51 1,614,722 $ 5.73 3,355,917 $ 3.90 Subject to the satisfaction of service conditions, the RSUs outstanding as of December 31, 2020 2021. RSUs fair value at grant date - There were no RSUs granted during 2020. 2019 2018, RSUs fair value at vested date - The fair value of the RSUs that vested during 2020, 2019 2018 Share-Based Awards: Restricted Stock Under the Directors Compensation Plan, shares of restricted stock (“Restricted Shares”) were issued in 2020, 2019 2018 one third three As of December 31, 2020, A summary of activity related to Restricted Shares is as follows: 2020 2019 2018 Restricted Shares Weighted Average Grant Date Fair Value Per Share Restricted Shares Weighted Average Grant Date Fair Value Per Share Restricted Shares Weighted Average Grant Date Fair Value Per Share Nonvested, beginning of period 123,180 $ 4.55 181,832 $ 3.08 246,528 $ 2.27 Granted 109,376 2.56 46,360 6.04 41,544 6.74 Vested (78,428 ) 2.38 (105,012 ) 2.67 (106,240 ) 2.64 Nonvested, end of period 154,128 $ 4.24 123,180 $ 4.55 181,832 $ 3.08 Subject to the satisfaction of service conditions, the Restricted Shares outstanding as of December 31, 2020 Restricted Shares 2021 138,676 2022 15,452 Total 154,128 Restricted stock fair value at grant date - The grant date fair value of restricted stock granted during 2020, 2019 2018 Restricted stock fair value at vested date - The fair value of the restricted stock that vested during 2020, 2019 2018 Share-Based Compensation A summary of compensation expense under share-based payment arrangements is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Share-based compensation expense from: Restricted stock units $ 3,555 $ 3,410 $ 3,260 Restricted stock 404 280 280 Total $ 3,959 $ 3,690 $ 3,540 As of December 31, 2020, November 2021 April 2022 Cash-based Awards In addition to share-based compensation, short-term, cash-based awards were granted under the Plan to substantially all eligible employees in 2019 2018. one three No 2020 no 2020 2018, ● For the 2019 four 2019 2019 March 2020 2019 ● In 2018, three ● For the 2018 2018 September 2018 November 2020 2018 December 15, 2020 ● For the 2018 2018 2018 January 2018 February 2019 2018 March 2019. Share-Based Awards and Cash-Based Awards Compensation Expense A summary of compensation expense related to share-based awards and cash-based awards is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Share-based compensation included in: General and administrative $ 3,959 $ 3,690 $ 3,540 Cash-based incentive compensation included in: Lease operating expense 849 2,206 3,596 General and administrative 4,019 8,897 9,586 Total charged to operating income $ 8,827 $ 14,793 $ 16,722 Discretionary Bonus to Employees in 2021 February 15, 2021, one March 15, 2021 April 15, 2021,

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plan	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	11. We maintain a defined contribution benefit plan (the “401 401 401 2020, 2019, 2018 401 100% five 401 2020, 2019 2018,

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Tax (Benefit) Expense Components of income tax (benefit) expense were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Current $ 134 $ (11,092 ) $ 35 Deferred (30,287 ) (64,102 ) 500 Total income tax (benefit) expense $ (30,153 ) $ (75,194 ) $ 535 Reconciliation The reconciliation of income taxes computed at the U.S. federal statutory tax rate to our income tax (benefit) expense is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Income tax (benefit) expense at the federal statutory rate $ 1,604 $ (233 ) $ 52,366 Compensation adjustments 1,373 971 457 State income taxes 75 (175 ) 560 Uncertain tax position — (11,523 ) — Impact of U.S. legislative changes (21,345 ) — 487 Valuation allowance (12,018 ) (64,704 ) (53,980 ) Other 158 470 645 Total income tax (benefit) expense $ (30,153 ) $ (75,194 ) $ 535 Our effective tax rate for the years 2020, 2019 2018 not Deferred Tax Assets and Liabilities Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities were as follows (in thousands): December 31, 2020 2019 Deferred tax liabilities: Property and equipment $ 37,535 $ 21,647 Derivatives — — Investment in non-consolidated entity 8,070 14,716 Other 2,588 2,283 Total deferred tax liabilities 48,193 38,646 Deferred tax assets: Property and equipment — — Derivatives 3,416 1,409 Asset retirement obligations 84,332 76,924 Federal net operating losses 47,307 15,265 State net operating losses 8,136 7,393 Interest expense limitation carryover 16,304 48,458 Share-based compensation 419 965 Valuation allowance (22,361 ) (54,436 ) Other 4,843 6,584 Total deferred tax assets 142,396 102,562 Net deferred tax assets (liabilities) $ 94,203 $ 63,916 Income Taxes Receivable, Refunds and Payments As of December 31, 2020, not December 31, 2019, 2020 2017 2019, 2012, 2013 2014 2019. 2017 172 10 December 31, 2020 2019, not Net Operating Loss and Interest Expense Limitation Carryover The table below presents the details of our net operating loss and interest expense limitation carryover as of December 31, 2020 Amount Expiration Year Federal net operating loss $ 225,274 earliest is 2037 State net operating loss 136,440 2026 2038 Interest expense limitation carryover 75,341 N/A Valuation Allowance During 2020 2019, not not Throughout 2020, twelve December 31, 2018, 2019 2020, three not 2020, 2020 March 27, 2020 163 July 28, 2020 163 December 31, 2020, Uncertain Tax Positions The table below sets forth the beginning and ending balance of the total amount of unrecognized tax benefits. During 2019, Reconciliation of the balances of our uncertain tax positions are as follows (in thousands): December 31, 2020 2019 Balance, beginning of period $ — $ 9,482 Decrease during the period — (9,482 ) Balance, end of period $ — $ — Years open to examination The tax years from 2017 2020 W&T OFFSHORE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	13. The Company’s unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are deemed participating securities and are included in the computation of earnings per share under the two The following table presents the calculation of basic and diluted earnings per common share (in thousands, except per share amounts): Year Ended December 31, 2020 2019 2018 Net income $ 37,790 $ 74,086 $ 248,827 Less portion allocated to nonvested shares 437 1,371 9,727 Net income allocated to common shares $ 37,353 $ 72,715 $ 239,100 Weighted average common shares outstanding 141,622 140,583 139,002 Basic and diluted earnings per common share $ 0.26 $ 0.52 $ 1.72

Note 14 - Supplemental Cash Flo

Note 14 - Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	14. The following table reflects our supplemental cash flow information (in thousands): Year Ended December 31, 2020 2019 2018 Supplemental cash items: Cash paid for interest (1) $ 59,183 $ 66,720 $ 61,501 Cash paid for income taxes 159 51 138 Cash refunds received for income taxes 2,007 51,833 11,126 Cash paid for share-based compensation (2) — — 1,130 Cash received for interest income 603 7,720 2,385 Non-cash investing activities: Accruals of property and equipment 3,035 29,662 18,575 ARO - additions, dispositions and revisions, net 17,928 37,440 19,877 ( 1 During 2018, 2016, 470 60 financing activities ( 2 During 2020 2019, 2018,

Note 15 - Commitments

Note 15 - Commitments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments Disclosure [Text Block]	15. See Note 7 Pursuant to the Purchase and Sale Agreement with Total E&P, we may December 31, 2020, 2023 Pursuant to the Purchase and Sale Agreement with Shell Offshore Inc. (“Shell”) related to ARO for certain properties, we have surety bonds that are subject to re-appraisal by either party. As of December 31, 2020, Pursuant to the Purchase and Sale Agreement with Exxon related to ARO for certain properties, we were required to obtain $30.0 million of surety bonds as of December 31, 2020. June 1 2021; 2022; 2023; 2024; 2025, 2034. may two Pursuant to the Purchase and Sale Agreement with Conoco related to ARO for certain properties, we were required to obtain $49.0 million of surety bonds and are required to maintain this level of bonds until the properties are fully plugged, abandoned, and restored in accordance with applicable laws and regulations. During 2020, 2019 2018, 2020, 2019 2018, 2065. 2021–$5.8 2022–$5.6 2023 2024 20 25–$5.6 thereafter–$57.9 may In conjunction with the purchase of an interest in the Heidelberg field, we assumed contracts with certain pipeline companies that contain minimum quantities obligations that extend to 2028. 2020, 2019 2018 December 31, 2020, 2021–$2.5 2022–$1.8 2023–$1.2 2024 2025 thereafter–$0.7 We have no December 31, 2020.

Note 16 - Related Parties

Note 16 - Related Parties	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	16. During 2020, 2019 2018, ly $0.3 million, $1.2 m 2020, 2019 2018 third led $14.4 million, 2020, 2019 2018, 2020, 2019 2018. 2018, 4

Note 17 - Contingencies

Note 17 - Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	17. Apache Lawsuit On December 15, 2014, three May 31, 2017 June 2017 2019 Due to funds being distributed during 2019, December 31, 2018 2019 2019. Appeal with ONRR In 2009, 2010, 2010, 2010 May 2014. June 17, 2014, January 27, 2017, $4.7 March 27, 2017. July 25, 2017 December 4, 2018, February 4, 2019, first July 9, 2019, July 31, 2019, December 18, 2019, in camera January 2020, Royalties-In-Kind (“RIK”) Under a program of the Minerals Management Service (“MMS”) (a Department of Interior ("DOI") agency and predecessor to the ONRR), royalties must be paid “in-kind” rather than in value from federal leases in the program. The MMS added to the RIK program our lease at the East Cameron 373 November 2001, October 2008, May 29, 2018. July 24, 2018. December 23, 2019, no December 31, 2020 Notices of Proposed Civil Penalty Assessment During 2020 2019, not January 2021, nine July 2012 January 2018, three first March 2021. 2022. Royalties – “Unbundling” Initiative The ONRR has publicly announced an “unbundling” initiative to revise the methodology employed by producers in determining the appropriate allowances for transportation and processing costs that are permitted to be deducted in determining royalties under Federal oil and gas leases. The ONRR’s initiative requires re-computing allowable transportation and processing costs using revised guidance from the ONRR going back 84 second 2015, not 10 not 2020, 2019 2018, not Supplemental Bonding Requirements by the BOEM The BOEM requires that lessees demonstrate financial strength and reliability according to its regulations or provide acceptable financial assurances to satisfy lease obligations, including decommissioning activities on the OCS. As of the filing date of this Form 10 no may Surety Bond Issuers’ Collateral Requirements The issuers of surety bonds in some cases have requested and received additional collateral related to surety bonds for plugging and abandonment activities. We may not 2020 2019. Other Claims We are a party to various pending or threatened claims and complaints seeking damages or other remedies concerning our commercial operations and other matters in the ordinary course of our business. In addition, claims or contingencies may no may not not

Note 18 - Selected Quarterly Fi

Note 18 - Selected Quarterly Financial Data - Unaudited	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Quarterly Financial Information [Text Block]	18. Unaudited quarterly financial data are as follows (in thousands, except per share amounts): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Ended December 31, 2020 Revenues $ 124,128 $ 55,241 $ 72,517 94,748 Operating (loss) income 71,811 (28,041 ) (19,510 ) 349 Net (loss) income (1) 65,980 (5,904 ) (13,339 ) (8,947 ) Basic and diluted (loss) earnings per common share (2) 0.46 (0.04 ) (0.09 ) (0.06 ) Year Ended December 31, 2019 Revenues $ 116,080 $ 134,701 $ 132,221 $ 151,894 Operating income (30,976 ) 37,379 35,399 16,847 Net (loss) income (1) (47,761 ) 36,389 75,899 9,559 Basic and diluted earnings per common share (2) (0.34 ) 0.25 0.53 0.07 ( 1 During 2020, third fourth 2020, 2020, third fourth 2019, third fourth 2019, third fourth ( 2 The sum of the individual quarterly earnings (loss) per common share may not

Note 19 - Supplemental Oil and

Note 19 - Supplemental Oil and Gas Disclosures - Unaudited	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Oil and Gas Exploration and Production Industries Disclosures [Text Block]	19. Geographic Area of Operation All of our proved reserves are located within the United States in the Gulf of Mexico. Therefore, the following disclosures about our costs incurred, results of operations and proved reserves are on a total-company basis. Capitalized Costs Net capitalized costs related to our oil, NGLs and natural gas producing activities are as follows (in millions): December 31, 2020 2019 2018 Net capitalized costs: Proved oil and natural gas properties and equipment $ 8,567.5 $ 8,532.2 $ 8,169.9 Accumulated depreciation, depletion and amortization related to oil, NGLs and natural gas activities (7,890.9 ) (7,793.3 ) (7,665.1 ) Net capitalized costs related to producing activities $ 676.6 $ 738.9 $ 504.8 Costs Incurred In Oil and Gas Property Acquisition, Exploration and Development Activities The following costs were incurred in oil and gas acquisition, exploration, and development activities (in millions): Year Ended December 31, 2020 2019 2018 Costs incurred: (1) Proved properties acquisitions $ 8.1 $ 223.8 $ 24.1 Exploration (2) (3) 7.4 30.6 49.9 Development 23.6 114.5 56.2 Total costs incurred in oil and gas property acquisition, exploration and development activities $ 39.1 $ 368.9 $ 130.2 ( 1 Includes net additions from capitalized ARO of $15.2 million, $37.5 million, and $20.3 million during 2020, 2019, 2018, ( 2 Includes seismic costs of $0.3 million, $7.8 million, and $1.5 million incurred during 2020, 2019, 2018, ( 3 Includes geological and geophysical costs charged to expense of $4.5 million, $5.7 million, and $5.4 million during 2020, 2019, 2018, Depreciation, depletion, amortization and accretion expense The following table presents our depreciation, depletion, amortization and accretion expense per barrel equivalent (“Boe”) of products sold: Year Ended December 31, 2020 2019 2018 Depreciation, depletion, amortization and accretion per Boe $ 7.82 $ 10.01 $ 11.24 Oil and Natural Gas Reserve Information There are numerous uncertainties in estimating quantities of proved reserves and in providing the future rates of production and timing of development expenditures. The following reserve information represents estimates only and are inherently imprecise and may not December 31, 2020 may not December 31, 2020. not The following sets forth estimated quantities of our net proved, proved developed and proved undeveloped oil, NGLs and natural gas reserves. All of the reserves are located in the United States with all located in state and federal waters in the Gulf of Mexico. The reserve estimates exclude insignificant royalties and interests owned by the Company due to the unavailability of such information. In addition to other criteria, estimated reserves are assessed for economic viability based on the unweighted average of first January December not may Standardized Measure of Discounted Future Net Cash Flows”. Total Energy Equivalent Reserves (1) Oil (MMBbls) NGLs (MMBbls) Natural Gas (Bcf) Oil Equivalent (MMBoe) Natural Gas Equivalent (Bcfe) Proved reserves as of Dec. 31, 2017 34.4 7.8 192.2 74.2 445.3 Revisions of previous estimates (2) 11.6 2.8 40.4 21.1 126.7 Extensions and discoveries (3) 0.5 0.3 7.7 2.1 12.6 Purchase of minerals in place (4) 1.5 0.4 9.4 3.4 20.7 Sales of minerals in place (5) (2.2 ) (0.2 ) (7.2 ) (3.5 ) (21.2 ) Production (6.7 ) (1.3 ) (32.0 ) (13.3 ) (80.0 ) Proved reserves as of Dec. 31, 2018 39.1 9.8 210.5 84.0 504.1 Revisions of previous estimates (6) 1.4 (1.5 ) (16.9 ) (3.0 ) (18.2 ) Extensions and discoveries (7) 0.9 0.1 1.2 1.1 6.7 Purchase of minerals in place (8) 3.1 17.4 417.6 90.1 540.9 Production (6.7 ) (1.3 ) (41.3 ) (14.8 ) (89.0 ) Proved reserves as of Dec. 31, 2019 37.8 24.5 571.1 157.4 944.5 Revisions of previous estimates (9) (0.9 ) (5.9 ) 31.6 (1.4 ) (8.8 ) Extensions and discoveries (10) 0.2 0.0 0.2 0.2 1.3 Purchase of minerals in place (11) 0.7 0.4 14.8 3.6 21.8 Production (5.6 ) (1.7 ) (48.4 ) (15.4 ) (92.3 ) Proved reserves as of Dec. 31, 2020 32.2 17.3 569.3 144.4 866.5 Year-end proved developed reserves: 2020 24.0 16.5 550.2 132.2 793.3 2019 28.0 21.7 504.9 133.8 802.9 2018 31.5 7.8 166.8 67.0 402.2 Year-end proved undeveloped reserves: 2020 (12) 8.2 0.9 19.1 12.2 73.2 2019 9.8 2.8 66.2 23.6 141.6 2018 7.6 2.0 43.7 17.0 101.9 Volume measurements: MMBbls – million barrels for crude oil, condensate or NGLs Bcf – billion cubic feet MMBoe – million barrels of oil equivalent Bcfe – billion cubic feet of gas equivalent ( 1 The conversion to barrels of oil equivalent and cubic feet equivalent were determined using the energy-equivalent ratio of six one may not not may ( 2 Primarily related to upward revisions at our Mahogany field and our Ship Shoal 028 ( 3 Primarily related to extensions and discoveries of 1.3 MMBoe at our Viosca Knoll 823 910 ( 4 Primarily related to our Ship Shoal 028 859 ( 5 Primarily related to conveyance of interest in properties related to the JV Drilling Program. ( 6 Increases primarily related to upward revisions to our Ship Shoal 028 108 December 31, 2019. ( 7 Primarily related to extensions and discoveries of 0.9 MMBoe at our Mississippi Canyon 800 ( 8 Primarily related to the Mobile Bay Properties and Magnolia acquisitions. ( 9 Decreases of 27.7 MMBoe were due to price revisions for all proved reserves. Increases of 26.2 MMBoe were primarily related to technical revisions at our Mobile Bay and Fairway properties. ( 10 Primarily related to the discovery at East Cameron 338 ( 11 Primarily related to the Mobile Bay Properties and Mahogany working interest acquisitions. ( 12 We believe that we will be able to develop all but 2.3 MMBoe (approximately 19%) of the total of 12.2 MMBoe reserves classified as proved undeveloped (“PUDs”) at December 31, 2020, five 243 823 one 2022 2024. Standardized Measure of Discounted Future Net Cash Flows The following presents the standardized measure of discounted future net cash flows related to our proved oil and natural gas reserves together with changes therein. Future cash inflows represent expected revenues from production of period-end quantities of proved reserves based on the unweighted average of first December 31, 2020 2019 2018 2017 Oil - per barrel $ 37.78 $ 58.11 $ 65.21 $ 46.58 NGLs per barrel 10.29 18.72 29.73 22.65 Natural gas per Mcf 2.05 2.63 3.13 2.86 Future production, development costs and ARO are based on costs in effect at the end of each of the respective years with no The standardized measure of discounted future net cash flows does not 2021 Year Ended December 31, 2020 2019 2018 Standardized Measure of Discounted Future Net Cash Flows Future cash inflows $ 2,561.2 $ 4,153.8 $ 3,500.9 Future costs: Production (1,257.4 ) (1,901.1 ) (958.5 ) Development and abandonment (707.4 ) (794.7 ) (628.3 ) Income taxes (60.5 ) (170.5 ) (293.9 ) Future net cash inflows before 10% discount 535.9 1,287.5 1,620.2 10% annual discount factor (42.2 ) (300.6 ) (553.2 ) Total $ 493.7 $ 986.9 $ 1,067.0 The change in the standardized measure of discounted future net cash flows relating to our proved oil and natural gas reserves is as follows (in millions): Year Ended December 31, 2020 2019 2018 Changes in Standardized Measure Standardized measure, beginning of year $ 986.9 $ 1,067.0 $ 740.6 Increases (decreases): Sales and transfers of oil and gas produced, net of production costs (168.6 ) (315.8 ) (398.1 ) Net changes in price, net of future production costs (503.7 ) (376.4 ) 571.5 Extensions and discoveries, net of future production and development costs 2.8 27.0 53.6 Changes in estimated future development costs (15.9 ) (6.0 ) (114.7 ) Previously estimated development costs incurred 1.4 19.3 48.4 Revisions of quantity estimates (65.2 ) 116.4 307.6 Accretion of discount 111.8 107.4 50.5 Net change in income taxes 87.7 62.9 (133.4 ) Purchases of reserves in-place 44.6 298.3 27.8 Sales of reserves in-place — — (54.1 ) Changes in production rates due to timing and other 11.9 (13.2 ) (32.7 ) Net (decrease) increase (493.2 ) (80.1 ) 326.4 Standardized measure, end of year $ 493.7 $ 986.9 $ 1,067.0

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation Our consolidated financial statements include the accounts of W&T Offshore, Inc. and its majority-owned subsidiaries. Our interests in oil and gas joint ventures are proportionately consolidated. All significant intercompany transactions and amounts have been eliminated for all years presented. Our consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and the appropriate rules and regulations of the Securities and Exchange Commission (“SEC”).
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods and the reported amounts of proved oil and natural gas reserves. Actual results could differ from those estimates.
Realized Prices [Policy Text Block]	Realized Prices The price we receive for our crude oil, natural gas liquids (“NGLs”) and natural gas production directly affects our revenues, profitability, cash flows, liquidity, access to capital, proved reserves and future rate of growth. The average realized prices of these commodities decreased in 2 020 2019.
New Accounting Pronouncements, Adopted [Policy Text Block]	Accounting Standard Updates Effective January 1, 2020 In June 2016, No. 2016 13, Financial Instruments – Credit Losses Topic 326 2016 13” not not In August 2017, No. 2017 12, Derivatives and Hedging (Topic 815 2017 12” 2017 12 not not
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents We consider all highly liquid investments purchased with original or remaining maturities of three
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition We recognize revenue from the sale of crude oil, NGLs, and natural gas when our performance obligations are satisfied. Our contracts with customers are primarily short-term (less than 12 We record oil and natural gas revenues based upon physical deliveries to our customers, which can be different from our net revenue ownership interest in field production. These differences create imbalances that we recognize as a liability only when the estimated remaining recoverable reserves of a property will not not December 31, 2020 2019
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Our customers are primarily large integrated oil and natural gas companies and large commodity trading companies. The majority of our production is sold utilizing month-to-month contracts that are based on bid prices. We attempt to minimize our credit risk exposure to purchasers of our oil and natural gas, joint interest owners, derivative counterparties and other third The following table identifies customers from whom we derived 10% Year Ended December 31, 2020 2019 2018 Customer BP Products North America 39 % 40 % 20 % Mercuria Energy America Inc. 10 % ** ** Shell Trading (US) Co./ Shell Energy N.A. ** 11 % 30 % Vitol Inc. ** 12 % 14 % Williams Field Services 13 % ** ** ** Less than 10% We believe that the loss of any of the customers above would not
Accounts Receivable [Policy Text Block]	Accounts Receivables and Allowance for Credit Losses Our accounts receivables are recorded at their historical cost, less an allowance for credit losses. The carrying value approximates fair value because of the short-term nature of such accounts. In addition to receivables from sales of our production to our customers, we also have receivables from joint interest owners on properties we operate. In certain arrangements, we have the ability to withhold future revenue disbursements to recover amounts due us from the joint interest partners. A loss methodology is used to develop the allowance for credit losses on material receivables to estimate the net amount to be collected. The loss methodology uses historical data, current market conditions and forecasts of future economic conditions. The following table describes the balance and changes to the allowance for credit losses (in thousands): 2020 2019 2018 Allowance for credit losses, beginning of period $ 9,898 $ 9,692 $ 9,114 Additional provisions for the year 417 206 1,233 Uncollectible accounts written off or collected (1,192 ) — (655 ) Allowance for credit losses, end of period $ 9,123 $ 9,898 $ 9,692
Prepaid Expenses and Other Assets [Policy Text Block]	Prepaid expenses and other assets Amounts recorded in Prepaid expenses and other assets one December 31, 2020 2019 Derivatives – current (1) $ 2,752 $ 7,266 Unamortized bonds/insurance premiums 4,717 4,357 Prepaid deposits related to royalties 4,473 7,980 Prepayment to vendors 1,429 10,202 Other 461 886 Prepaid expenses and other assets $ 13,832 $ 30,691 ( 1 Includes both open and closed contracts.
Property, Plant and Equipment, Policy [Policy Text Block]	Properties and Equipment We use the full-cost method of accounting for oil and natural gas properties and equipment, which are recorded at cost. Under this method, all costs associated with the acquisition, exploration, development and abandonment of oil and natural gas properties are capitalized. Acquisition costs include costs incurred to purchase, lease or otherwise acquire properties. Exploration costs include costs of drilling exploratory wells and external geological and geophysical costs, which mainly consist of seismic costs. Development costs include the cost of drilling development wells and costs of completions, platforms, facilities and pipelines. Costs associated with production, certain geological and geophysical costs and general and administrative costs are expensed in the period incurred. Oil and natural gas properties included in the amortization base are amortized using the units-of-production method based on production and estimates of proved reserve quantities. In addition to costs associated with evaluated properties and capitalized asset retirement obligations (“ARO”), the amortization base includes estimated future development costs to be incurred in developing proved reserves as well as estimated plugging and abandonment costs, net of salvage value, related to developing proved reserves. Future development costs related to proved reserves are not Sales of proved and unproved oil and natural gas properties, whether or not no Furniture, fixtures and non-oil and natural gas property and equipment are depreciated using the straight-line method based on the estimated useful lives of the respective assets, generally ranging from five seven Oil and Natural Gas Properties and Other, Net – at cost Oil and natural gas properties and equipment are recorded at cost using the full cost method. There were no December 31, 2020 2019 Oil and natural gas properties and equipment $ 8,567,509 $ 8,532,196 Furniture, fixtures and other 20,847 20,317 Total property and equipment 8,588,356 8,552,513 Less accumulated depreciation, depletion and amortization 7,901,478 7,803,715 Oil and natural gas properties and other, net $ 686,878 $ 748,798
Oil and Gas Properties Policy [Policy Text Block]	Ceiling Test Write-Down Under the full-cost method of accounting, we are required to perform a “ceiling test” calculation quarterly, which determines a limit on the book value of our oil and natural gas properties. If the net capitalized cost of oil and natural gas properties (including capitalized ARO) net of related deferred income taxes exceeds the ceiling test limit, the excess is charged to expense on a pre-tax basis and separately disclosed. Any such write downs are not 10%; not first twelve We did not 2020, 2019 2018. 2020, may 2021
Asset Retirement Obligation [Policy Text Block]	Asset Retirement Obligations We are required to record a separate liability for the present value of our ARO, with an offsetting increase to the related oil and natural gas properties on our balance sheet. We have significant obligations to plug and abandon well bores, remove our platforms, pipelines, facilities and equipment and restore the land or seabed at the end of oil and natural gas production operations. These obligations are primarily associated with plugging and abandoning wells, removing pipelines, removing and disposing of offshore platforms and site cleanup. Estimating such costs requires us to make judgments on both the costs and the timing of ARO. Asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations, which can substantially affect our estimates of these future costs from period to period. See Note 6
Industry Specific Policies, Oil and Gas [Policy Text Block]	Oil and Natural Gas Reserve Information We use the unweighted average of first 12 12 may five 19
Derivatives, Reporting of Derivative Activity [Policy Text Block]	Derivative Financial Instruments We have exposure related to commodity prices and have used various derivative instruments to manage our exposure to commodity price risk from sales of oil and natural gas. We do not 2020, 2019 2018, December 31, 2020 may 2020, 2019 2018, not Derivative instruments are recorded on the balance sheet as an asset or a liability at fair value. We have elected not may may not
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments We include fair value information in the notes to our consolidated financial statements when the fair value of our financial instruments is different from the book value or it is required by applicable guidance. We believe that the book value of our cash and cash equivalents, receivables, accounts payable and accrued liabilities materially approximates fair value due to the short-term nature and the terms of these instruments. We believe that the book value of our restricted deposits approximates fair value as deposits are in cash or short-term investments.
Income Tax, Policy [Policy Text Block]	Income Taxes We use the liability method of accounting for income taxes in accordance with the Income Taxes not not not 12
Other Noncurrent Assets [Policy Text Block]	Other Assets (long-term) The major categories recorded in Other assets December 31, 2020 2019 ROU assets (Note 7) $ 11,509 $ 7,936 Unamortized debt issuance costs 2,094 3,798 Investment in White Cap, LLC 2,699 2,590 Derivatives 2,762 2,653 Unamortized brokerage fee for Monza 626 3,423 Proportional consolidation of Monza's other assets (Note 4) 1,782 5,308 Appeal bond deposits — 6,925 Other 998 814 Total other assets $ 22,470 $ 33,447
Accrued Liabilities Policy [Policy Text Block]	Accrued Liabilities The major categories recorded in Accrued liabilities December 31, 2020 2019 Accrued interest $ 10,389 $ 10,180 Accrued salaries/payroll taxes/benefits 4,009 2,377 Incentive compensation plans — 9,794 Litigation accruals 436 3,673 Lease liability (Note 7) 394 2,716 Derivatives 13,620 1,785 Other 1,032 371 Total accrued liabilities $ 29,880 $ 30,896
Paycheck Protection Program, Policy [Policy Text Block]	Paycheck Protection Program ("PPP") On April 15, 2020, no 20 20, The Company submitted an application to the SBA on August 20, 2020, not not We have elected to follow the income approach under IAS 20 December 31, 2020 Lease operating expenses General and administrative expenses Interest expense, net December 31, 2020. may April 2022 1%.
Debt, Policy [Policy Text Block]	Debt Issuance Costs Debt issuance costs associated with the Credit Agreement are amortized using the straight-line method over the scheduled maturity of the debt. Debt issuance costs associated with all other debt are deferred and amortized over the scheduled maturity of the debt utilizing the effective interest method. Unamortized debt issuance costs associated with our Credit Agreement is reported within Other Assets Long-term debt – carrying value 2 Discounts Provided on Debt Issuance Discounts were recorded in Long-term debt – carrying value Gain on Debt Transactions During 2020, 2018, 2016, 2
Other Noncurrent Liabilities [Policy Text Block]	Other Liabilities (long-term) The major categories recorded in Other liabilities December 31, 2020 2019 Dispute related to royalty deductions $ 5,467 $ 4,687 Dispute related to royalty-in-kind — 250 Lease liability (Note 7) 11,360 4,419 Derivatives 4,384 — Black Elk escrow 11,103 — Other 624 632 Total other liabilities (long-term) $ 32,938 $ 9,988
Share-based Payment Arrangement [Policy Text Block]	Share-Based Compensation Compensation cost for share-based payments to employees and non-employee directors is based on the fair value of the equity instrument on the date of grant and is recognized over the period during which the recipient is required to provide service in exchange for the award. The fair value for equity instruments subject to only time or to Company performance measures was determined using the closing price of the Company’s common stock at the date of grant. We recognize share-based compensation expense on a straight line basis over the period during which the recipient is required to provide service in exchange for the award. Estimates are made for forfeitures during the vesting period, resulting in the recognition of compensation cost only for those awards that are estimated to vest and estimated forfeitures are adjusted to actual forfeitures when the equity instrument vests. See Note 10
Other Income (Expense), Net [Policy Text Block]	Other Expense (Income), Net For 2020, 4 2019, 2018,
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share under the two 13

Note 1 - Significant Accounti_2

Note 1 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year Ended December 31, 2020 2019 2018 Customer BP Products North America 39 % 40 % 20 % Mercuria Energy America Inc. 10 % ** ** Shell Trading (US) Co./ Shell Energy N.A. ** 11 % 30 % Vitol Inc. ** 12 % 14 % Williams Field Services 13 % ** **
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	2020 2019 2018 Allowance for credit losses, beginning of period $ 9,898 $ 9,692 $ 9,114 Additional provisions for the year 417 206 1,233 Uncollectible accounts written off or collected (1,192 ) — (655 ) Allowance for credit losses, end of period $ 9,123 $ 9,898 $ 9,692
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	December 31, 2020 2019 Derivatives – current (1) $ 2,752 $ 7,266 Unamortized bonds/insurance premiums 4,717 4,357 Prepaid deposits related to royalties 4,473 7,980 Prepayment to vendors 1,429 10,202 Other 461 886 Prepaid expenses and other assets $ 13,832 $ 30,691
Property, Plant and Equipment [Table Text Block]	December 31, 2020 2019 Oil and natural gas properties and equipment $ 8,567,509 $ 8,532,196 Furniture, fixtures and other 20,847 20,317 Total property and equipment 8,588,356 8,552,513 Less accumulated depreciation, depletion and amortization 7,901,478 7,803,715 Oil and natural gas properties and other, net $ 686,878 $ 748,798
Schedule of Other Assets, Noncurrent [Table Text Block]	December 31, 2020 2019 ROU assets (Note 7) $ 11,509 $ 7,936 Unamortized debt issuance costs 2,094 3,798 Investment in White Cap, LLC 2,699 2,590 Derivatives 2,762 2,653 Unamortized brokerage fee for Monza 626 3,423 Proportional consolidation of Monza's other assets (Note 4) 1,782 5,308 Appeal bond deposits — 6,925 Other 998 814 Total other assets $ 22,470 $ 33,447
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2020 2019 Accrued interest $ 10,389 $ 10,180 Accrued salaries/payroll taxes/benefits 4,009 2,377 Incentive compensation plans — 9,794 Litigation accruals 436 3,673 Lease liability (Note 7) 394 2,716 Derivatives 13,620 1,785 Other 1,032 371 Total accrued liabilities $ 29,880 $ 30,896
Other Noncurrent Liabilities [Table Text Block]	December 31, 2020 2019 Dispute related to royalty deductions $ 5,467 $ 4,687 Dispute related to royalty-in-kind — 250 Lease liability (Note 7) 11,360 4,419 Derivatives 4,384 — Black Elk escrow 11,103 — Other 624 632 Total other liabilities (long-term) $ 32,938 $ 9,988

Note 2 - Long-term Debt (Tables

Note 2 - Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	December 31, 2020 2019 Credit Agreement borrowings $ 80,000 $ 105,000 Senior Second Lien Notes: Principal 552,460 625,000 Unamortized debt issuance costs (7,174 ) (10,467 ) Total Senior Second Lien Notes 545,286 614,533 Total long-term debt $ 625,286 $ 719,533

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Derivative Assets at Fair Value [Table Text Block]	December 31, 2020 2019 Assets: Derivatives instruments - open contracts, current $ 2,705 $ 6,921 Derivatives instruments - open contracts, long-term 2,762 2,653 Liabilities: Derivatives instruments - open contracts, current 13,291 1,785 Derivatives instruments - open contracts, long-term 4,384 —
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	December 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Liabilities: Credit Agreement $ 80,000 $ 80,000 $ 105,000 $ 105,000 Senior Second Lien Notes 545,286 393,352 614,533 597,188

Note 5 - Acquisitions and Div_2

Note 5 - Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	2019 Oil and natural gas properties and other, net - at cost: $ 192,373 Other assets 4,838 Current liabilities 1,559 Asset retirement obligations 21,684 Other liabilities 4,132 2019 Oil and natural gas properties and other, net - at cost: $ 23,791 Asset retirement obligations 7,842

Note 6 - Asset Retirement Obl_2

Note 6 - Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Change in Asset Retirement Obligation [Table Text Block]	Year Ended December 31, 2020 2019 Asset retirement obligations, beginning of period $ 355,594 $ 310,137 Liabilities settled (3,339 ) (11,443 ) Accretion of discount 22,521 19,460 Liabilities incurred and assumed through acquisition 4,860 29,887 Revisions of estimated liabilities (1) 13,068 7,553 Asset retirement obligations, end of period 392,704 355,594 Less current portion 17,188 21,991 Long-term $ 375,516 $ 333,603

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	December 31, 2020 2019 Operating lease cost, excluding short-term leases $ 3,060 $ 2,902 Short-term lease cost (1) 1,633 22,152 Total lease cost $ 4,693 $ 25,054
Operating Lease, Lessee, Assets and Liabilities [Table Text Block]	December 31, 2020 2019 ROU assets $ 11,509 $ 7,936 Lease liability: Accrued liabilities $ 394 $ 2,716 Other liabilities 11,360 4,419 Total lease liability $ 11,754 $ 7,135
Lessee, Operating Lease, Weighted Average Remaining Lease Term and Discount Rate [Table Text Block]	December 31, 2020 2019 Weighted average remaining lease term: 14.8 years 14.3 years Weighted average discount rate: 10.2 % 10.4 %
Lessee, Operating Lease, Supplemental Cash Flow Information [Table Text Block]	December 31, 2020 2019 Operating cash outflow from operating leases $ 1,825 $ 1,827 Right-of-use assets obtained in exchange for new operating lease liabilities $ 5,142 $ 6,373
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2021 $ 394 2022 1,134 2023 1,625 2024 2,023 2025 1,512 Thereafter 17,461 Total lease payments 24,149 Present value adjustment (12,395 ) Total $ 11,754

Note 9 - Derivative Financial_2

Note 9 - Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	Crude Oil: Open Swap Contracts, Priced off WTI (NYMEX) Period Notional Quantity (Bbls/day) Notional Quantity (Bbls) Weighted Strike Price Jan 2021 - Dec 2021 4,000 1,460,000 $ 42.06 Jan 2022 - Feb 2022 3,000 177,000 $ 42.98 Mar 2022 - May 2022 2,044 188,006 $ 42.33 Crude Oil: Open Collar Contracts - Priced off WTI (NYMEX) Period Notional Quantity (Bbls/day) Notional Quantity (Bbls) Put Option Weighted Strike Price (Bought) Call Option Weighted Strike Price (Sold) Jan.2021 - Feb 2022 1,770 750,422 $ 35.00 $ 50.00 Mar 2022 - May 2022 2,000 184,000 $ 35.00 $ 48.50 Natural Gas: Open Call Contracts, Bought, Priced off Henry Hub (NYMEX) Period Notional Quantity (MMBtu/day) Notional Quantity (MMBtu) Strike Price Feb 2021 - Dec. 2022 40,000 27,960,000 $ 3.00 Natural Gas: Open Swap Contracts, Bought, Priced off Henry Hub (NYMEX) Period Notional Quantity (MMBtu/day) Notional Quantity (MMBtu) Strike Price Jan 2021 - Dec 2021 10,000 3,650,000 $ 2.62 Jan 2022 20,000 620,000 $ 2.79 Feb 2022 30,000 840,000 $ 2.79 Mar 2022 - May 2022 10,544 970,075 $ 2.69 Natural Gas: Open Collar Contracts, Priced off Henry Hub (NYMEX) Period Notional Quantity (MMBtu/day) Notional Quantity (MMBtu) Put Option Weighted Strike Price (Bought) Call Option Weighted Strike Price (Sold) Jan 2021 - Dec 2022 40,000 29,200,000 $ 1.83 $ 3.00 Jan 2021 - Dec 2021 30,000 10,950,000 $ 2.18 $ 3.00 Jan 2022 - Feb 2022 30,000 1,770,000 $ 2.20 $ 4.50 Mar 2022 - May 2022 10,000 92,000 $ 2.25 $ 3.40
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	December 31, 2020 2019 Prepaid and other assets – current $ 2,752 $ 7,266 Other assets – non-current 2,762 2,653 Accrued liabilities 13,620 1,785 Year Ended December 31, 2020 2019 2018 Derivative loss (gain) $ (23,808 ) $ 59,887 $ (53,798 )
Schedule of Cash Receipts and Payments on Commodity Derivative Contract Settlements [Table Text Block]	Year Ended December 31, 2020 2019 2018 Derivative cash receipts (payments), net $ 45,196 $ 13,941 $ (28,164 )

Note 10 - Share-based Awards _2

Note 10 - Share-based Awards and Cash-based Awards (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]	2020 2019 2018 Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Nonvested, beginning of period 1,614,722 $ 5.73 3,355,917 $ 3.90 5,765,251 $ 2.48 Granted - - 994,698 4.51 988,955 6.90 Vested (787,203 ) 6.90 (1,475,373 ) 2.76 (2,261,665 ) 2.21 Forfeited (63,831 ) 5.80 (1,260,520 ) 3.37 (1,136,624 ) 2.68 Nonvested, end of period 763,688 $ 4.51 1,614,722 $ 5.73 3,355,917 $ 3.90
Share-based Payment Arrangement, Nonemployee Director Award Plan, Activity [Table Text Block]	2020 2019 2018 Restricted Shares Weighted Average Grant Date Fair Value Per Share Restricted Shares Weighted Average Grant Date Fair Value Per Share Restricted Shares Weighted Average Grant Date Fair Value Per Share Nonvested, beginning of period 123,180 $ 4.55 181,832 $ 3.08 246,528 $ 2.27 Granted 109,376 2.56 46,360 6.04 41,544 6.74 Vested (78,428 ) 2.38 (105,012 ) 2.67 (106,240 ) 2.64 Nonvested, end of period 154,128 $ 4.24 123,180 $ 4.55 181,832 $ 3.08
Schedule of Nonvested Restricted Stock, Vesting Schedule [Table Text Block]	Restricted Shares 2021 138,676 2022 15,452 Total 154,128
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	Year Ended December 31, 2020 2019 2018 Share-based compensation expense from: Restricted stock units $ 3,555 $ 3,410 $ 3,260 Restricted stock 404 280 280 Total $ 3,959 $ 3,690 $ 3,540
Schedule of Incentive Compensation Expense [Table Text Block]	Year Ended December 31, 2020 2019 2018 Share-based compensation included in: General and administrative $ 3,959 $ 3,690 $ 3,540 Cash-based incentive compensation included in: Lease operating expense 849 2,206 3,596 General and administrative 4,019 8,897 9,586 Total charged to operating income $ 8,827 $ 14,793 $ 16,722

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2020 2019 2018 Current $ 134 $ (11,092 ) $ 35 Deferred (30,287 ) (64,102 ) 500 Total income tax (benefit) expense $ (30,153 ) $ (75,194 ) $ 535
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2020 2019 2018 Income tax (benefit) expense at the federal statutory rate $ 1,604 $ (233 ) $ 52,366 Compensation adjustments 1,373 971 457 State income taxes 75 (175 ) 560 Uncertain tax position — (11,523 ) — Impact of U.S. legislative changes (21,345 ) — 487 Valuation allowance (12,018 ) (64,704 ) (53,980 ) Other 158 470 645 Total income tax (benefit) expense $ (30,153 ) $ (75,194 ) $ 535
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2020 2019 Deferred tax liabilities: Property and equipment $ 37,535 $ 21,647 Derivatives — — Investment in non-consolidated entity 8,070 14,716 Other 2,588 2,283 Total deferred tax liabilities 48,193 38,646 Deferred tax assets: Property and equipment — — Derivatives 3,416 1,409 Asset retirement obligations 84,332 76,924 Federal net operating losses 47,307 15,265 State net operating losses 8,136 7,393 Interest expense limitation carryover 16,304 48,458 Share-based compensation 419 965 Valuation allowance (22,361 ) (54,436 ) Other 4,843 6,584 Total deferred tax assets 142,396 102,562 Net deferred tax assets (liabilities) $ 94,203 $ 63,916
Summary of Operating Loss Carryforwards [Table Text Block]	Amount Expiration Year Federal net operating loss $ 225,274 earliest is 2037 State net operating loss 136,440 2026 2038 Interest expense limitation carryover 75,341 N/A
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	December 31, 2020 2019 Balance, beginning of period $ — $ 9,482 Decrease during the period — (9,482 ) Balance, end of period $ — $ —

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2020 2019 2018 Net income $ 37,790 $ 74,086 $ 248,827 Less portion allocated to nonvested shares 437 1,371 9,727 Net income allocated to common shares $ 37,353 $ 72,715 $ 239,100 Weighted average common shares outstanding 141,622 140,583 139,002 Basic and diluted earnings per common share $ 0.26 $ 0.52 $ 1.72

Note 14 - Supplemental Cash F_2

Note 14 - Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Year Ended December 31, 2020 2019 2018 Supplemental cash items: Cash paid for interest (1) $ 59,183 $ 66,720 $ 61,501 Cash paid for income taxes 159 51 138 Cash refunds received for income taxes 2,007 51,833 11,126 Cash paid for share-based compensation (2) — — 1,130 Cash received for interest income 603 7,720 2,385 Non-cash investing activities: Accruals of property and equipment 3,035 29,662 18,575 ARO - additions, dispositions and revisions, net 17,928 37,440 19,877

Note 18 - Selected Quarterly _2

Note 18 - Selected Quarterly Financial Data - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Quarterly Financial Information [Table Text Block]	1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Ended December 31, 2020 Revenues $ 124,128 $ 55,241 $ 72,517 94,748 Operating (loss) income 71,811 (28,041 ) (19,510 ) 349 Net (loss) income (1) 65,980 (5,904 ) (13,339 ) (8,947 ) Basic and diluted (loss) earnings per common share (2) 0.46 (0.04 ) (0.09 ) (0.06 ) Year Ended December 31, 2019 Revenues $ 116,080 $ 134,701 $ 132,221 $ 151,894 Operating income (30,976 ) 37,379 35,399 16,847 Net (loss) income (1) (47,761 ) 36,389 75,899 9,559 Basic and diluted earnings per common share (2) (0.34 ) 0.25 0.53 0.07

Note 19 - Supplemental Oil an_2

Note 19 - Supplemental Oil and Gas Disclosures - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]	December 31, 2020 2019 2018 Net capitalized costs: Proved oil and natural gas properties and equipment $ 8,567.5 $ 8,532.2 $ 8,169.9 Accumulated depreciation, depletion and amortization related to oil, NGLs and natural gas activities (7,890.9 ) (7,793.3 ) (7,665.1 ) Net capitalized costs related to producing activities $ 676.6 $ 738.9 $ 504.8
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]	Year Ended December 31, 2020 2019 2018 Costs incurred: (1) Proved properties acquisitions $ 8.1 $ 223.8 $ 24.1 Exploration (2) (3) 7.4 30.6 49.9 Development 23.6 114.5 56.2 Total costs incurred in oil and gas property acquisition, exploration and development activities $ 39.1 $ 368.9 $ 130.2
Schedule of Amortization Expense Per Unit of Production [Table Text Block]	Year Ended December 31, 2020 2019 2018 Depreciation, depletion, amortization and accretion per Boe $ 7.82 $ 10.01 $ 11.24
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block]	Total Energy Equivalent Reserves (1) Oil (MMBbls) NGLs (MMBbls) Natural Gas (Bcf) Oil Equivalent (MMBoe) Natural Gas Equivalent (Bcfe) Proved reserves as of Dec. 31, 2017 34.4 7.8 192.2 74.2 445.3 Revisions of previous estimates (2) 11.6 2.8 40.4 21.1 126.7 Extensions and discoveries (3) 0.5 0.3 7.7 2.1 12.6 Purchase of minerals in place (4) 1.5 0.4 9.4 3.4 20.7 Sales of minerals in place (5) (2.2 ) (0.2 ) (7.2 ) (3.5 ) (21.2 ) Production (6.7 ) (1.3 ) (32.0 ) (13.3 ) (80.0 ) Proved reserves as of Dec. 31, 2018 39.1 9.8 210.5 84.0 504.1 Revisions of previous estimates (6) 1.4 (1.5 ) (16.9 ) (3.0 ) (18.2 ) Extensions and discoveries (7) 0.9 0.1 1.2 1.1 6.7 Purchase of minerals in place (8) 3.1 17.4 417.6 90.1 540.9 Production (6.7 ) (1.3 ) (41.3 ) (14.8 ) (89.0 ) Proved reserves as of Dec. 31, 2019 37.8 24.5 571.1 157.4 944.5 Revisions of previous estimates (9) (0.9 ) (5.9 ) 31.6 (1.4 ) (8.8 ) Extensions and discoveries (10) 0.2 0.0 0.2 0.2 1.3 Purchase of minerals in place (11) 0.7 0.4 14.8 3.6 21.8 Production (5.6 ) (1.7 ) (48.4 ) (15.4 ) (92.3 ) Proved reserves as of Dec. 31, 2020 32.2 17.3 569.3 144.4 866.5 Year-end proved developed reserves: 2020 24.0 16.5 550.2 132.2 793.3 2019 28.0 21.7 504.9 133.8 802.9 2018 31.5 7.8 166.8 67.0 402.2 Year-end proved undeveloped reserves: 2020 (12) 8.2 0.9 19.1 12.2 73.2 2019 9.8 2.8 66.2 23.6 141.6 2018 7.6 2.0 43.7 17.0 101.9
Schedule Of Prices Weighted By Field Production Related To The Proved Reserves [Table Text Block]	December 31, 2020 2019 2018 2017 Oil - per barrel $ 37.78 $ 58.11 $ 65.21 $ 46.58 NGLs per barrel 10.29 18.72 29.73 22.65 Natural gas per Mcf 2.05 2.63 3.13 2.86
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block]	Year Ended December 31, 2020 2019 2018 Standardized Measure of Discounted Future Net Cash Flows Future cash inflows $ 2,561.2 $ 4,153.8 $ 3,500.9 Future costs: Production (1,257.4 ) (1,901.1 ) (958.5 ) Development and abandonment (707.4 ) (794.7 ) (628.3 ) Income taxes (60.5 ) (170.5 ) (293.9 ) Future net cash inflows before 10% discount 535.9 1,287.5 1,620.2 10% annual discount factor (42.2 ) (300.6 ) (553.2 ) Total $ 493.7 $ 986.9 $ 1,067.0
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]	Year Ended December 31, 2020 2019 2018 Changes in Standardized Measure Standardized measure, beginning of year $ 986.9 $ 1,067.0 $ 740.6 Increases (decreases): Sales and transfers of oil and gas produced, net of production costs (168.6 ) (315.8 ) (398.1 ) Net changes in price, net of future production costs (503.7 ) (376.4 ) 571.5 Extensions and discoveries, net of future production and development costs 2.8 27.0 53.6 Changes in estimated future development costs (15.9 ) (6.0 ) (114.7 ) Previously estimated development costs incurred 1.4 19.3 48.4 Revisions of quantity estimates (65.2 ) 116.4 307.6 Accretion of discount 111.8 107.4 50.5 Net change in income taxes 87.7 62.9 (133.4 ) Purchases of reserves in-place 44.6 298.3 27.8 Sales of reserves in-place — — (54.1 ) Changes in production rates due to timing and other 11.9 (13.2 ) (32.7 ) Net (decrease) increase (493.2 ) (80.1 ) 326.4 Standardized measure, end of year $ 493.7 $ 986.9 $ 1,067.0

Note 1 - Significant Accounti_3

Note 1 - Significant Accounting Policies (Details Textual) Pure in Thousands, $ in Thousands	Apr. 15, 2020USD ($)	Oct. 18, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Gas Balancing Asset (Liability)			$ 3,500	$ 3,600
Impairment of Oil and Gas Properties			$ 0	0	$ 0
Proved Undeveloped Reserves Classification, Period to be Drilled (Year)			5 years
Proceeds from Paycheck Protection Program Under CARES Act	$ 8,400
Increase (Decrease), Operating Lease Expense			$ (2,300)
Increase (Decrease), General and Administrative Expense			4,200
Increase (Decrease), Interest Expense, Net			1,900
Gain (Loss) on Extinguishment of Debt, Total			47,469	$ 0	47,109
Refinancing Transaction [Member]
Gain (Loss) on Extinguishment of Debt, Total		$ 47,100			$ 47,100
Senior Second Lien Notes Due November 2023 [Member]
Extinguishment of Debt, Amount			72,500
Repayments of Long-term Debt, Total			23,900
Gain (Loss) on Extinguishment of Debt, Total			$ 47,500
Interest Rate Contract [Member]
Derivative, Number of Instruments Held, Total			0	0	0
Furniture, Fixtures and Non-oil and Natural Gas Property and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)			5 years
Furniture, Fixtures and Non-oil and Natural Gas Property and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)			7 years

Note 1 - Significant Accounti_4

Note 1 - Significant Accounting Policies - Percentage of Revenue by Major Customers (Details) - Customer Concentration Risk [Member] - Revenue from Contract with Customer Benchmark [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
BP Products North America [Member]
Concentration risk percentage	39.00%	40.00%	20.00%
Mercuria Energy America Inc. [Member]
Concentration risk percentage	10.00%
Shell Trading (US) Co. [Member]
Concentration risk percentage		11.00%	30.00%
Vitol Inc. [Member]
Concentration risk percentage		12.00%	14.00%
Williams Field Services [Member]
Concentration risk percentage	13.00%

Note 1 - Significant Accounti_5

Note 1 - Significant Accounting Policies - Credit Risk and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for credit losses, beginning of period	$ 9,898	$ 9,692	$ 9,114
Additional provisions for the year	417	206	1,233
Uncollectible accounts written off or collected	(1,192)	0	(655)
Allowance for credit losses, end of period	$ 9,123	$ 9,898	$ 9,692

Note 1 - Significant Accounti_6

Note 1 - Significant Accounting Policies - Schedule of Amounts Recorded in Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Derivatives - current	[1]	$ 2,752	$ 7,266
Unamortized bonds/insurance premiums		4,717	4,357
Prepaid deposits related to royalties		4,473	7,980
Prepayment to vendors		1,429	10,202
Other		461	886
Prepaid expenses and other assets		$ 13,832	$ 30,691
[1]	Includes both open and closed contracts.

Note 1 - Significant Accounti_7

Note 1 - Significant Accounting Policies - Schedule of Oil and Natural Gas Properties and Other, Net at Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Oil and natural gas properties and equipment	$ 8,567,509	$ 8,532,196
Furniture, fixtures and other	20,847	20,317
Total property and equipment	8,588,356	8,552,513
Less accumulated depreciation, depletion and amortization	7,901,478	7,803,715
Oil and natural gas properties and other, net	$ 686,878	$ 748,798

Note 1 - Significant Accounti_8

Note 1 - Significant Accounting Policies - Schedule of Other Assets (Long-term) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ROU assets (Note 7)	$ 11,509	$ 7,936
Unamortized debt issuance costs	2,094	3,798
Investment in White Cap, LLC	2,699	2,590
Derivatives	2,762	2,653
Unamortized brokerage fee for Monza	626	3,423
Proportional consolidation of Monza's other assets (Note 4)	1,782	5,308
Appeal bond deposits	0	6,925
Other assets, long-term	998	814
Total other assets	$ 22,470	$ 33,447

Note 1 - Significant Accounti_9

Note 1 - Significant Accounting Policies - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Total accrued liabilities	$ 29,880	$ 30,896
Accrued Liabilities [Member]
Accrued interest	10,389	10,180
Accrued salaries/payroll taxes/benefits	4,009	2,377
Incentive compensation plans	0	9,794
Litigation accruals	436	3,673
Lease liability (Note 7)	394	2,716
Derivatives	13,620	1,785
Other	$ 1,032	$ 371

Note 1 - Significant Account_10

Note 1 - Significant Accounting Policies - Schedule of Other Liabilities (Long-term) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Total other liabilities (long-term)	$ 32,938	$ 9,988
Other Noncurrent Liabilities [Member]
Dispute related to royalty deductions	5,467	4,687
Dispute related to royalty-in-kind	0	250
Lease liability (Note 7)	11,360	4,419
Derivatives	4,384	0
Black Elk escrow	11,103	0
Other	$ 624	$ 632

Note 2 - Long-term Debt (Detail

Note 2 - Long-term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Oct. 18, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 06, 2021
Long-Term Debt, Maturity, Year One		$ 0
Long-Term Debt, Maturity, Year Two		80,000
Long-Term Debt, Maturity, Year Three		552,500
Gain (Loss) on Extinguishment of Debt, Total		47,469	$ 0	$ 47,109
Refinancing Transaction [Member]
Gain (Loss) on Extinguishment of Debt, Total	$ 47,100			$ 47,100
Basic Earnings Per Share Adjustment, Pro Forma (in dollars per share)	$ 0.33
Senior Second Lien Notes Due November 2023 [Member]
Debt Instrument, Face Amount	$ 625,000	552,460	625,000
Debt Instrument, Interest Rate, Stated Percentage	9.75%
Debt Instrument, Interest Rate, Effective Percentage	10.30%
Extinguishment of Debt, Amount		72,500
Repayments of Long-term Debt, Total		23,900
Gain (Loss) on Extinguishment of Debt, Total		47,500
Write off of Deferred Debt Issuance Cost		$ 1,100
Senior Second Lien Notes Due November 2023 [Member] | Debt Instrument, Redemption, Period One [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		104.875%
Senior Second Lien Notes Due November 2023 [Member] | Debt Instrument, Redemption, Period Two [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		102.438%
Senior Second Lien Notes Due November 2023 [Member] | Debt Instrument, Redemption, Period Three [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		100.00%
Senior Second Lien Notes Due November 2023 [Member] | Debt Instrument, Redemption, Period Four [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		101.00%
Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 215,000
Credit Agreement, Maximum Leverage Ratio		3
Credit Agreement, Leverage Ratio		2
Credit Agreement, Minimum Current Ratio		1
Credit Agreement, Minimum Percentage of Total Proved Reserves		90.00%
Commitment Fee if Borrowing Base Utilization Percentage is Below 50%		0.50%
Debt Instrument, Covenant, Minimum Percentage of Derivative Contracts		50.00%
Letters of Credit Outstanding, Amount		$ 4,400	$ 5,800
Line of Credit Facility, Interest Rate During Period		3.80%
Credit Agreement [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 190,000
Debt Instrument, Anti-cash Hoarding Prepayment, Maximum Cash Balance Threshold					$ 25,000
Credit Agreement [Member] | Minimum [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate		2.75%
Credit Agreement [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Credit Agreement [Member] | Maximum [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate		3.75%
Credit Agreement [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		2.75%
Credit Agreement [Member] | Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 30,000
11.00% 1.5 Lien Term Loan Due November 2019 [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	11.00%
Extinguishment of Debt, Amount	$ 75,000
The Nine Percent Term Loan, due May 15, 2020 [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	9.00%
Extinguishment of Debt, Amount	$ 300,000
Second Lien PIK Toggle Notes [Member] | Refinancing Transaction [Member]
Extinguishment of Debt, Amount	$ 177,500
Second Lien PIK Toggle Notes [Member] | Minimum [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	9.00%
Second Lien PIK Toggle Notes [Member] | Maximum [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	10.75%
Third Lien PIK Toggle Notes [Member] | Refinancing Transaction [Member]
Extinguishment of Debt, Amount	$ 160,900
Third Lien PIK Toggle Notes [Member] | Minimum [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.50%
Third Lien PIK Toggle Notes [Member] | Maximum [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Unsecured Senior Notes [Member] | Refinancing Transaction [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.50%
Extinguishment of Debt, Amount	$ 189,800

Note 2 - Long-term Debt - Compo

Note 2 - Long-term Debt - Components of Long-term Debt (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Oct. 18, 2018
Debt instrument		$ 632,460	$ 730,000
Total long-term debt		625,286	719,533
Credit Agreement [Member]
Debt instrument	[1]	80,000	105,000
Total long-term debt		80,000	105,000
Senior Second Lien Notes Due November 2023 [Member]
Debt instrument	[1]	545,286	614,533
Principal		552,460	625,000	$ 625,000
Unamortized debt issuance costs		(7,174)	(10,467)
Total long-term debt		$ 545,286	$ 614,533
[1]	Defined below

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements - Fair Value of Open Derivative Financial Instruments (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Derivatives - current	[1]	$ 2,752	$ 7,266
Derivatives instruments - open contracts, long-term		2,762	2,653
Open Contracts [Member]
Derivatives - current		2,705	6,921
Derivatives instruments - open contracts, long-term		2,762	2,653
Derivatives instruments - open contracts, current		13,291	1,785
Derivatives		$ 4,384	$ 0
[1]	Includes both open and closed contracts.

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Carrying Value and Fair Value of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-term debt, carrying value	$ 625,286	$ 719,533
Credit Agreement [Member]
Long-term debt, carrying value	80,000	105,000
Long-term debt, fair value	80,000	105,000
Senior Second Lien Notes Due November 2023 [Member]
Long-term debt, carrying value	545,286	614,533
Long-term debt, fair value	$ 393,352	$ 597,188

Note 4 - Joint Venture Drilli_2

Note 4 - Joint Venture Drilling Program (Details Textual) - USD ($) $ in Thousands	Mar. 12, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net, Ending Balance		$ 686,878				$ 748,798				$ 686,878	$ 748,798
Other Assets, Noncurrent, Total		22,470				33,447				22,470	33,447
Asset Retirement Obligation, Ending Balance		392,704				355,594				392,704	355,594	$ 310,137
Revenue from Contract with Customer, Excluding Assessed Tax, Total		94,748	$ 72,517	$ 55,241	$ 124,128	151,894	$ 132,221	$ 134,701	$ 116,080	346,634	534,896	$ 580,706
Monza Energy, LLC [Member]
Asset Retirement Obligation, Ending Balance		200								200
Increase (Decrease) in Working Capital										1,300
JV Drilling Program [Member] | Mr. Tracy W. Krohn [Member]
Minority Interest Ownership Percentage By Joint Venture	4.50%
Monza Energy, LLC [Member]
Property, Plant and Equipment, Net, Ending Balance		9,900				16,100				9,900	16,100
Other Assets, Noncurrent, Total		1,800				5,300				1,800	5,300
Asset Retirement Obligation, Ending Balance						100					100
Increase (Decrease) in Working Capital											2,700
Cash Call Balance		7,300				$ 5,300				7,300	5,300
Revenue from Contract with Customer, Excluding Assessed Tax, Total										8,400	11,900
Operating Costs and Expenses, Total										12,100	$ 7,400
Monza Energy, LLC [Member] | JV Drilling Program [Member]
Amount Committed by Investors	$ 361,400
Joint Venture Working Interest Percentage Contributed to Related Party	88.94%
Joint Venture Working Interest Percent	11.06%
Oil and Gas Revenue, Percent	30.00%
Well Cost, Percent	20.00%
Capital Contribution Payments from Related Party		289,300								289,300
Capital Contributions from Related Party During Period										70,800
Capital Contribution Payments to Related Party, Net		$ 51,800								$ 51,800
Monza Energy, LLC [Member] | JV Drilling Program [Member] | Mr. Tracy W. Krohn [Member]
Capital Commitment to Joint Venture	$ 14,500

Note 5 - Acquisitions and Div_3

Note 5 - Acquisitions and Divestitures (Details Textual) - USD ($) $ in Thousands	Sep. 28, 2018	Apr. 05, 2018	Dec. 31, 2019	Aug. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Payments to Acquire Oil and Gas Property and Equipment, Total					$ 2,919	$ 188,019	$ 16,782
Permian Basin [Member]
Proceeds from Sale of Productive Assets, Total	$ 56,600
Mobile Bay Properties [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total				$ 169,800
Payments to Acquire Oil and Gas Property and Equipment, Cash from Long-term Lines of Credit				$ 150,000
Chevron [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total					2,200
Magnolia Field Acquisition [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ 15,900
Marubeni [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total					$ 1,500
Heidelberg Field [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 16,800
Payments to Acquire Oil and Gas Property and Equipment, Cash from Long-term Lines of Credit		$ 9,400
Percentage of Non-operated Working Interest Acquired		9.375%
Oil and Gas, Asset Acquisition, Amounts Included in Asset Retirement Obligations, Noncurrent, Total		$ 3,600
Payments to Acquire Oil and Gas Property and Equipment, Total		$ 19,600

Note 5 - Acquisitions and Div_4

Note 5 - Acquisitions and Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Aug. 31, 2019
Mobile Bay Properties [Member]
Oil and natural gas properties and other, net - at cost:		$ 192,373
Other assets		4,838
Current liabilities		1,559
Asset retirement obligations		21,684
Other liabilities		$ 4,132
Magnolia Field Acquisition [Member]
Oil and natural gas properties and other, net - at cost:	$ 23,791
Asset retirement obligations	$ 7,842

Note 6 - Asset Retirement Obl_3

Note 6 - Asset Retirement Obligations - Changes to Asset Retirement Obligation (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Asset retirement obligations, beginning of period		$ 355,594	$ 310,137
Liabilities settled		(3,339)	(11,443)
Asset retirement obligations accretion		22,521	19,460	$ 18,431
Liabilities incurred and assumed through acquisition		4,860	29,887
Revisions of estimated liabilities (1)	[1]	13,068	7,553
Asset retirement obligations, end of period		392,704	355,594	$ 310,137
Less current portion		17,188	21,991
Long-term		$ 375,516	$ 333,603
[1]	Revisions in 2020 and 2019 were due to changes in scope, weather impact, revisions to actual expenses versus estimates and revisions related to non-operated properties.

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual)	Dec. 31, 2020
Office Lease [Member]
Lessee, Operating Lease, Renewal Term (Year)	10 years
Lessee, Operating Lease, Discount Rate	9.75%
Pipeline Right-of-way Contracts [Member]
Lessee, Operating Lease, Renewal Term (Year)	10 years
Lessee, Operating Lease, Term of Contract (Year)	10 years
Land Acquired in Mobile Bay Properties Acquisition [Member]
Lessee, Operating Lease, Renewal Term (Year)	5 years
Other Leases [Member]
Lessee, Operating Lease, Discount Rate	10.75%

Note 7 - Leases - Lease Cost (D

Note 7 - Leases - Lease Cost (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Operating lease cost, excluding short-term leases		$ 3,060	$ 2,902
Short-term lease cost (1)	[1]	1,633	22,152
Total lease cost		$ 4,693	$ 25,054
[1]	Short-term lease costs are reported at gross amounts and primarily represent costs incurred for drilling rigs, most of which are short-term contracts not recognized as a right-of-use asset and lease liability on the balance sheet. The majority of such costs were recorded within Oil and natural gas properties, net, on the Consolidated Balance Sheet.

Note 7 - Leases - Lessee Assets

Note 7 - Leases - Lessee Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ROU assets (Note 7)	$ 11,509	$ 7,936
Other Noncurrent Assets [Member]
ROU assets (Note 7)	11,509	7,936
Accrued Liabilities [Member]
Accrued liabilities	394	2,716
Other Noncurrent Liabilities [Member]
Other liabilities	11,360	4,419
Accrued Liabilities and Other Noncurrent Liabilities [Member]
Total lease liability	$ 11,754	$ 7,135

Note 7 - Leases - Weighted Aver

Note 7 - Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted average remaining lease term: (Year)	14 years 9 months 18 days	14 years 3 months 18 days
Weighted average discount rate:	10.20%	10.40%

Note 7 - Leases - Supplemental

Note 7 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating cash outflow from operating leases	$ 1,825	$ 1,827
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 5,142	$ 6,373

Note 7 - Leases - Undiscounted

Note 7 - Leases - Undiscounted Future Minimum Payment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021	$ 394
2022	1,134
2023	1,625
2024	2,023
2025	1,512
Thereafter	17,461
Total lease payments	24,149
Present value adjustment	(12,395)
Accrued Liabilities and Other Noncurrent Liabilities [Member]
Total	$ 11,754	$ 7,135

Note 8 - Restricted Deposits _2

Note 8 - Restricted Deposits for ARO (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Restricted Deposits for Asset Retirement Obligations [Member]
Escrow Deposit	$ 13,900
Other Noncurrent Liabilities [Member]
Escrow Liability, Noncurrent	$ 11,103	$ 0

Note 9 - Derivative Financial_3

Note 9 - Derivative Financial Instruments - Summary of Open Commodity Derivative Contracts (Details)	12 Months Ended
	Dec. 31, 2020BTU$ / sharesbbl
NYMEX Natural Gas Open Swap Contracts [Member] | Natural Gas, Open Swap Contracts, One [Member]
Notional Quantity	3,650,000
Strike Price (in dollars per share)	$ 2.62
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	10,000
NYMEX Natural Gas Open Swap Contracts [Member] | Natural Gas, Open Swap Contracts, Two [Member]
Notional Quantity	620,000
Strike Price (in dollars per share)	$ 2.79
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	20,000
NYMEX Natural Gas Open Swap Contracts [Member] | Natural Gas, Open Swap Contracts, Three [Member]
Notional Quantity	840,000
Strike Price (in dollars per share)	$ 2.79
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	30,000
NYMEX Natural Gas Open Swap Contracts [Member] | Natural Gas, Open Swap Contracts, Four [Member]
Notional Quantity	970,075
Strike Price (in dollars per share)	$ 2.69
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	10,544
NYMEX Crude Oil Swap [Member] | Open Crude Oil Derivative Contracts 1 [Member]
Notional Quantity (Bbls/day) (Barrel of Oil) | bbl	4,000
Notional Quantity	1,460,000
Strike Price (in dollars per share)	$ 42.06
NYMEX Crude Oil Swap [Member] | Open Crude Oil Derivative Contracts 2 [Member]
Notional Quantity (Bbls/day) (Barrel of Oil) | bbl	3,000
Notional Quantity	177,000
Strike Price (in dollars per share)	$ 42.98
NYMEX Crude Oil Swap [Member] | Open Crude Oil Derivative Contracts 3 [Member]
Notional Quantity (Bbls/day) (Barrel of Oil) | bbl	2,044
Notional Quantity	188,006
Strike Price (in dollars per share)	$ 42.33
NYMEX Crude Oil Collar [Member] | Open Crude Oil Derivative Contracts 1 [Member]
Notional Quantity (Bbls/day) (Barrel of Oil) | bbl	1,770
Notional Quantity	750,422
NYMEX Crude Oil Collar [Member] | Open Crude Oil Derivative Contracts 1 [Member] | Put Option [Member]
Strike Price (in dollars per share)	$ 35
NYMEX Crude Oil Collar [Member] | Open Crude Oil Derivative Contracts 1 [Member] | Call Option [Member]
Strike Price (in dollars per share)	$ 50
NYMEX Crude Oil Collar [Member] | Open Crude Oil Derivative Contracts 2 [Member]
Notional Quantity (Bbls/day) (Barrel of Oil) | bbl	2,000
Notional Quantity	184,000
NYMEX Crude Oil Collar [Member] | Open Crude Oil Derivative Contracts 2 [Member] | Put Option [Member]
Strike Price (in dollars per share)	$ 35
NYMEX Crude Oil Collar [Member] | Open Crude Oil Derivative Contracts 2 [Member] | Call Option [Member]
Strike Price (in dollars per share)	$ 48.50
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, One [Member]
Notional Quantity	29,200,000
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	40,000
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, One [Member] | Put Option [Member]
Strike Price (in dollars per share)	$ 1.83
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, One [Member] | Call Option [Member]
Strike Price (in dollars per share)	$ 3
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Two [Member]
Notional Quantity	10,950,000
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	30,000
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Two [Member] | Put Option [Member]
Strike Price (in dollars per share)	$ 2.18
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Two [Member] | Call Option [Member]
Strike Price (in dollars per share)	$ 3
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Three [Member]
Notional Quantity	1,770,000
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	30,000
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Three [Member] | Put Option [Member]
Strike Price (in dollars per share)	$ 2.20
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Three [Member] | Call Option [Member]
Strike Price (in dollars per share)	$ 4.50
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Four [Member]
Notional Quantity	92,000
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	10,000
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Four [Member] | Put Option [Member]
Strike Price (in dollars per share)	$ 2.25
NYMEX Natural Gas Two Way Collars [Member] | Natural Gas, Open Collar Contracts, Four [Member] | Call Option [Member]
Strike Price (in dollars per share)	$ 3.40
NYMEX Natural Gas, Open Call Contracts [Member] | Natural Gas, Open Call Contracts, One [Member]
Notional Quantity	27,960,000
Strike Price (in dollars per share)	$ 3
Notional Quantity (MMBtu/day) (British Thermal Unit) | BTU	40,000

Note 9 - Derivative Financial_4

Note 9 - Derivative Financial Instruments - Fair Value of Open and Closed Contracts Which Had Not Yet Settled (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Prepaid and other assets – current	[1]	$ 2,752				$ 7,266				$ 2,752	$ 7,266
Other assets – non-current		2,762				2,653				2,762	2,653
Derivative loss (gain)		11,500	$ 11,200	$ 15,400	$ (61,900)	18,700	$ (5,900)	$ (1,800)	$ 48,900	(23,808)	59,887	$ (53,798)
Accrued Liabilities [Member]
Derivatives		13,620				1,785				13,620	1,785
Open Contracts and Closed Contracts Which Had Not Yet Been Settled [Member]
Prepaid and other assets – current		2,752				7,266				2,752	7,266
Other assets – non-current		2,762				2,653				2,762	2,653
Open Contracts and Closed Contracts Which Had Not Yet Been Settled [Member] | Accrued Liabilities [Member]
Derivatives		$ 13,620				$ 1,785				$ 13,620	$ 1,785
[1]	Includes both open and closed contracts.

Note 9 - Derivative Financial_5

Note 9 - Derivative Financial Instruments - Cash Receipts on Commodity Derivative Contract Settlements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivatives cash receipts (payments), net	$ 45,196	$ 13,941	$ (28,164)

Note 10 - Share-based Awards _3

Note 10 - Share-based Awards and Cash-based Awards (Details Textual) - USD ($) $ in Thousands	Feb. 01, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Member]
Cash Discretionary Bonus	$ 7,600
Amended and Restated Incentive Plan [Member]
Cash-Based Awards, Granted in Period (in shares)		0
Cash-based Incentive Compensation		$ 0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		10,347,591
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other than Options, Granted in Period, Grant Date Fair Value		$ 0	$ 4,500	$ 6,800
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Grant Date Fair Value		2,000	$ 7,000	$ 11,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		1,200
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percent of Adjustments			0.00%	0.00%
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percent of Adjustments			100.00%	100.00%
Restricted Stock [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 200
Restricted Stock [Member] | Directors Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		473,244
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other than Options, Granted in Period, Grant Date Fair Value		$ 300	$ 300	$ 300
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Grant Date Fair Value		$ 200	500	$ 700
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Restricted Stock [Member] | Directors Compensation Plan [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		3.00%
Restricted Stock [Member] | Directors Compensation Plan [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		3.00%
Restricted Stock [Member] | Directors Compensation Plan [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		3.00%
Cash-based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Adjusted EBITDA Less Interest, Minimum			$ 200,000

Note 10 - Share-based Awards _4

Note 10 - Share-based Awards and Cash-based Awards - Summary of Share Activity Related to Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Nonvested, units (in shares)	1,614,722	3,355,917	5,765,251
Nonvested, weighted average grant date fair value per unit (in dollars per share)	$ 5.73	$ 3.90	$ 2.48
Granted, units (in shares)	0	994,698	988,955
Granted, weighted average grant date fair value per unit (in dollars per share)	$ 0	$ 4.51	$ 6.90
Vested, units (in shares)	(787,203)	(1,475,373)	(2,261,665)
Vested, weighted average grant date fair value per unit (in dollars per share)	$ 6.90	$ 2.76	$ 2.21
Forfeited, units (in shares)	(63,831)	(1,260,520)	(1,136,624)
Forfeited, weighted average grant date fair value per unit (in dollars per share)	$ 5.80	$ 3.37	$ 2.68
Nonvested, units (in shares)	763,688	1,614,722	3,355,917
Nonvested, weighted average grant date fair value per unit (in dollars per share)	$ 4.51	$ 5.73	$ 3.90

Note 10 - Share-based Awards _5

Note 10 - Share-based Awards and Cash-based Awards - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Nonvested, units (in shares)	123,180	181,832	246,528
Nonvested, weighted average grant date fair value per unit (in dollars per share)	$ 4.55	$ 3.08	$ 2.27
Granted, units (in shares)	109,376	46,360	41,544
Granted, weighted average grant date fair value per unit (in dollars per share)	$ 2.56	$ 6.04	$ 6.74
Vested, units (in shares)	(78,428)	(105,012)	(106,240)
Vested, weighted average grant date fair value per unit (in dollars per share)	$ 2.38	$ 2.67	$ 2.64
Nonvested, units (in shares)	154,128	123,180	181,832
Nonvested, weighted average grant date fair value per unit (in dollars per share)	$ 4.24	$ 4.55	$ 3.08

Note 10 - Share-based Awards _6

Note 10 - Share-based Awards and Cash-based Awards - Schedule of Outstanding Restricted Shares Issued to Non-employee Directors (Details) - Restricted Stock [Member] - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Awards expected to vest by period (in shares)	154,128	123,180	181,832	246,528
Vesting in 2021 [Member]
Awards expected to vest by period (in shares)	138,676
Vesting in 2022 [Member]
Awards expected to vest by period (in shares)	15,452

Note 10 - Share-based Awards _7

Note 10 - Share-based Awards and Cash-based Awards - Summary of Incentive Compensation Expense Under Share-based Payment Arrangements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based compensation expense	$ 3,959	$ 3,690	$ 3,540
Restricted Stock Units (RSUs) [Member]
Share-based compensation expense	3,555	3,410	3,260
Restricted Stock [Member]
Share-based compensation expense	$ 404	$ 280	$ 280

Note 10 - Share-based Awards _8

Note 10 - Share-based Awards and Cash-based Awards - Summary of Compensation Expense Related to Share-based Awards and Cash-Based Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based compensation expense	$ 3,959	$ 3,690	$ 3,540
Total charged to operating income	8,827	14,793	16,722
General and Administrative Expense [Member]
Share-based compensation expense	3,959	3,690	3,540
Cash-based incentive compensation	4,019	8,897	9,586
Lease Operating Expense [Member]
Cash-based incentive compensation	$ 849	$ 2,206	$ 3,596

Note 11 - Employee Benefit Pl_2

Note 11 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	6.00%
Deferred Compensation Arrangement with Individual, Requisite Service Period (Year)	5 years
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20.00%
Defined Contribution Plan, Cost	$ 2.3	$ 2	$ 2

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Income Taxes Receivable, Current	$ 0	$ 1,861
Proceeds from Income Tax Refunds	2,007	51,833	$ 11,126
Interest Income Related to Income Tax Refunds		4,500
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(32,100)	(63,300)
Income Tax Benefit Cares Act	32,100
Deferred Tax Assets, Valuation Allowance, Total	$ 22,361	$ 54,436
Open Tax Year	2017 2018 2019 2020

Note 12 - Income Taxes - Compon

Note 12 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current									$ 134	$ (11,092)	$ 35
Deferred									(30,287)	(64,102)	500
Total income tax (benefit) expense	$ (6,900)	$ (21,100)	$ (8,700)	$ 6,500	$ (8,200)	$ (55,500)	$ (11,700)	$ 200	$ (30,153)	$ (75,194)	$ 535

Note 12 - Income Taxes - Reconc

Note 12 - Income Taxes - Reconciliation of Income Taxes Computed to Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income tax (benefit) expense at the federal statutory rate, amount									$ 1,604	$ (233)	$ 52,366
Compensation adjustments, amount									1,373	971	457
State income taxes, amount									75	(175)	560
Uncertain tax position, amount									0	(11,523)	0
Impact of U.S. legislative changes									(21,345)	0	487
Valuation allowance, amount									(12,018)	(64,704)	(53,980)
Other, amount									158	470	645
Income tax (benefit) expense	$ (6,900)	$ (21,100)	$ (8,700)	$ 6,500	$ (8,200)	$ (55,500)	$ (11,700)	$ 200	$ (30,153)	$ (75,194)	$ 535

Note 12 - Income Taxes - Signif

Note 12 - Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities:
Property and equipment	$ 37,535	$ 21,647
Derivatives	0	0
Investment in non-consolidated entity	8,070	14,716
Other	2,588	2,283
Total deferred tax liabilities	48,193	38,646
Deferred tax assets:
Property and equipment	0	0
Derivatives	3,416	1,409
Asset retirement obligations	84,332	76,924
Federal net operating losses	47,307	15,265
State net operating losses	8,136	7,393
Interest expense limitation carryover	16,304	48,458
Share-based compensation	419	965
Valuation allowance	(22,361)	(54,436)
Other	4,843	6,584
Total deferred tax assets	142,396	102,562
Net deferred tax assets	$ 94,203	$ 63,916

Note 12 - Income Taxes - Net Op

Note 12 - Income Taxes - Net Operating Loss, Interest and Tax Credit Carryovers (Details) $ in Thousands	Dec. 31, 2020USD ($)
Net operating loss, amount	$ 75,341
Domestic Tax Authority [Member]
Net operating loss, amount	225,274
State and Local Jurisdiction [Member]
Net operating loss, amount	$ 136,440

Note 12 - Income Taxes - Uncert

Note 12 - Income Taxes - Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance, beginning of period	$ 0	$ 9,482
Decrease during the period	0	(9,482)
Balance, end of period	$ 0	$ 0

Note 13 - Earnings Per Share -

Note 13 - Earnings Per Share - Schedule of Basic and Diluted (Loss) Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2020		Sep. 30, 2020		Jun. 30, 2020		Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ (8,947)	[1]	$ (13,339)	[1]	$ (5,904)	[1]	$ 65,980	[1]	$ 9,559	[1]	$ 75,899	[1]	$ 36,389	[1]	$ (47,761)	[1]	$ 37,790	$ 74,086	$ 248,827
Less portion allocated to nonvested shares																	437	1,371	9,727
Net income allocated to common shares																	$ 37,353	$ 72,715	$ 239,100
Weighted average common shares outstanding (in shares)																	141,622	140,583	139,002
Basic and diluted earnings per common share (in dollars per share)	$ (0.06)	[2]	$ (0.09)	[2]	$ (0.04)	[2]	$ 0.46	[2]	$ 0.07	[2]	$ 0.53	[2]	$ 0.25	[2]	$ (0.34)	[2]	$ 0.26	$ 0.52	$ 1.72
[1]	During 2020, we recorded a derivative (gain) loss of $(61.9) million, 15.4 million, 11.2 million, and $11.5 million in the first, second, third and fourth quarters, respectively. During 2020, we recorded gain on debt transactions of $47.5 million. During 2020, we recorded income tax expense (benefit) of $6.5 million, ($8.7) million, ($21.1) million and ($6.9) million in the first, second, third and fourth quarters, respectively. During 2019, we recorded a derivative loss (gain) of $48.9 million, ($1.8) million, ($5.9) million, and $18.7 million in the first, second, third and fourth quarters, respectively. During 2019, we recorded income tax expense (benefit) of $0.2 million, ($11.7) million, ($55.5) million and ($8.2) million in the first, second, third and fourth quarters, respectively.
[2]	The sum of the individual quarterly earnings (loss) per common share may not agree with the yearly amount due to each quarterly calculation is based on income for that quarter and the weighted average common shares outstanding for that quarter.

Note 14 - Supplemental Cash F_3

Note 14 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest Costs Capitalized Adjustment	$ 0	$ 0	$ 0

Note 14 - Supplemental Cash F_4

Note 14 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental cash items:
Cash paid for income taxes		$ 159	$ 51	$ 138
Cash refunds received for income taxes		2,007	51,833	11,126
Cash paid for share-based compensation (2)	[1]	0	0	1,130
Cash received for interest income		603	7,720	2,385
Non-cash investing activities:
Accruals of property and equipment		3,035	29,662	18,575
ARO - additions, dispositions and revisions, net		17,928	37,440	19,877
Debt Convert to Second Lien Term Loan, due May 2020 [Member]
Supplemental cash items:
Cash paid for interest	[2]	$ 59,183	$ 66,720	$ 61,501
[1]	During 2020 and 2019, only common shares were used to settle vested RSUs and Restricted Shares. During 2018, cash was used to settle vested RSUs related to the retirement of executive officers and shares of common stock were used to settle all other vested RSUs and to settle Restricted Shares.
[2]	During 2018, cash paid for interest included amounts related to the debt instruments issued during 2016, which were accounted for under ASC 470-60 and recorded against the carrying value of the debt instruments on the Consolidated Balance Sheets and included in financing activities on the Consolidated Statements of Cash Flows. No interest was capitalized in the periods presented.

Note 15 - Commitments (Details

Note 15 - Commitments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expense Relating to Surety Bonds Paid.	$ 5,400	$ 4,700	$ 5,900
Surety Bonds [Member]
Other Commitment, to be Paid, Year One	5,800
Other Commitment, to be Paid, Year Two	5,600
Other Commitment, to be Paid, Year Three	5,700
Other Commitment, to be Paid, Year Four	5,600
Other Commitment, to be Paid, Year Five	5,600
Other Commitment, Due after Fifth Year	57,900
Surety Bonds [Member] | Other Commitment [Member]
Bonding Requirement, Related To Purchase of Properties Minimum Amount	64,000
Bonding Requirement Related To Purchase of Properties Maximum Amount	94,000
Surety Bonds [Member] | Total E&P [Member]
Bonding Requirement Related to Purchase of Properties Amount Current Year.	93,700
Escrow Deposit	0
Bonding Requirement Related to Purchase of Properties Amount, Fifth Anniversary.	103,000
Bonding Requirement Related to Purchase of Properties Amount Increment From Second Anniversary.	3,000
Surety Bonds [Member] | Exxon [Member]
Bonding Requirement, Related To Purchase of Properties Minimum Amount	30,000
Other Commitment, to be Paid, Year One	33,000
Other Commitment, to be Paid, Year Two	36,300
Other Commitment, to be Paid, Year Three	40,000
Other Commitment, to be Paid, Year Four	44,000
Other Commitment, to be Paid, Year Five	48,300
Other Commitment, Due after Fifth Year	114,000
Surety Bonds [Member] | Exxon [Member] | Minimum [Member]
Annual Increase in Other Commitment	4,000
Surety Bonds [Member] | Exxon [Member] | Maximum [Member]
Annual Increase in Other Commitment	9,000
Surety Bonds [Member] | Conoco [Member]
Bonding Requirement, Related To Purchase of Properties Minimum Amount	49,000
Heidelberg Field [Member]
Other Commitment, to be Paid, Year One	2,500
Other Commitment, to be Paid, Year Two	1,800
Other Commitment, to be Paid, Year Three	1,200
Other Commitment, to be Paid, Year Four	800
Other Commitment, to be Paid, Year Five	600
Other Commitment, Due after Fifth Year	700
Other Commitment, Expense	$ 4,500	$ 4,500	$ 2,300

Note 16 - Related Parties (Deta

Note 16 - Related Parties (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Airplane Services [Member]
Related Party Transaction, Amounts of Transaction	$ 0.3	$ 1.2	$ 1.3
Marine Transportation and Logistic Services [Member]
Related Party Transaction, Amounts of Transaction	0.1	0.1	0.1
Repayments of Related Party Debt	$ 14.4	$ 22.8	21
CEO and Largest Shareholder [Member] | Senior Second Lien Note Issuance [Member]
Debt Instrument, Face Amount			$ 8

Note 17 - Contingencies (Detail

Note 17 - Contingencies (Details Textual)	May 31, 2017USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 31, 2020USD ($)	Jul. 25, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2010USD ($)
Additional Royalty Due to Disallowed Deductions								$ 4,700,000
Bonds Posted to Appeal IBLA Decision						$ 7,200,000
Collateral for Bonds Posted Related to Appeal with IBLA		$ 8,200,000			$ 6,900,000	$ 6,900,000
Minerals Management Service Royalties [Member] | Maximum [Member]
Claim Value, Liability Reserve			$ 250,000,000,000
BSEE [Member]
Payment for Civil Penalty		$ 0	0
Loss Contingency, Number of Claims Filed		9
Proposed Civil Penalties		$ 7,700,000
Settlement Agreement, Annual Instalments, Value		720,000
ONRR Unbundling Initiative [Member]
Payments for Royalties		$ 200,000	400,000	$ 600,000
Judicial Ruling [Member] | Apache Corporation [Member]
Loss Contingency, Damages Awarded, Value	$ 49,500,000
Escrow Deposit							$ 49,500,000
Judicial Ruling [Member] | Apache Corporation [Member] | Interest Expense [Member]
Interest Income, Litigation			$ 1,900,000
Judicial Ruling [Member] | Apache Corporation [Member] | Other Noncurrent Assets [Member]
Loss Contingency Accrual, Ending Balance				49,500,000
Judicial Ruling [Member] | Apache Corporation [Member] | Other Noncurrent Liabilities [Member]
Loss Contingency Accrual, Ending Balance				$ 49,500,000

Note 18 - Selected Quarterly _3

Note 18 - Selected Quarterly Financial Data - Unaudited (Details Textual) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Derivative Instruments, Net, Pretax, Total	$ (11,500)	$ (11,200)	$ (15,400)	$ 61,900	$ (18,700)	$ 5,900	$ 1,800	$ (48,900)	$ 23,808	$ (59,887)	$ 53,798
Gain (Loss) on Extinguishment of Debt, Total									47,469	0	47,109
Income Tax Expense (Benefit), Total	$ (6,900)	$ (21,100)	$ (8,700)	$ 6,500	$ (8,200)	$ (55,500)	$ (11,700)	$ 200	$ (30,153)	$ (75,194)	$ 535

Note 18 - Selected Quarterly _4

Note 18 - Selected Quarterly Financial Data - Unaudited - Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2020		Sep. 30, 2020		Jun. 30, 2020		Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Total revenues	$ 94,748		$ 72,517		$ 55,241		$ 124,128		$ 151,894		$ 132,221		$ 134,701		$ 116,080		$ 346,634	$ 534,896	$ 580,706
Operating (loss) income	349		(19,510)		(28,041)		71,811		16,847		35,399		37,379		(30,976)		24,609	58,649	247,027
Net income	$ (8,947)	[1]	$ (13,339)	[1]	$ (5,904)	[1]	$ 65,980	[1]	$ 9,559	[1]	$ 75,899	[1]	$ 36,389	[1]	$ (47,761)	[1]	$ 37,790	$ 74,086	$ 248,827
Basic and diluted earnings per common share (in dollars per share)	$ (0.06)	[2]	$ (0.09)	[2]	$ (0.04)	[2]	$ 0.46	[2]	$ 0.07	[2]	$ 0.53	[2]	$ 0.25	[2]	$ (0.34)	[2]	$ 0.26	$ 0.52	$ 1.72
[1]	During 2020, we recorded a derivative (gain) loss of $(61.9) million, 15.4 million, 11.2 million, and $11.5 million in the first, second, third and fourth quarters, respectively. During 2020, we recorded gain on debt transactions of $47.5 million. During 2020, we recorded income tax expense (benefit) of $6.5 million, ($8.7) million, ($21.1) million and ($6.9) million in the first, second, third and fourth quarters, respectively. During 2019, we recorded a derivative loss (gain) of $48.9 million, ($1.8) million, ($5.9) million, and $18.7 million in the first, second, third and fourth quarters, respectively. During 2019, we recorded income tax expense (benefit) of $0.2 million, ($11.7) million, ($55.5) million and ($8.2) million in the first, second, third and fourth quarters, respectively.
[2]	The sum of the individual quarterly earnings (loss) per common share may not agree with the yearly amount due to each quarterly calculation is based on income for that quarter and the weighted average common shares outstanding for that quarter.

Note 19 - Supplemental Oil an_3

Note 19 - Supplemental Oil and Gas Disclosures - Unaudited (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)MMBoe	Dec. 31, 2019USD ($)MMBoe	Dec. 31, 2018USD ($)MMBoe
Asset Retirement Obligation, Period Increase (Decrease) Due To Acquisitions Incurred and Revisions | $	$ 15.2	$ 37.5	$ 20.3
Seismic Costs | $	0.3	7.8	1.5
Geological and Geophysical Costs | $	$ 4.5	$ 5.7	$ 5.4
Percentage of Non-operated Proved Developed Non-producing Reserves	22.10%
Proved Undeveloped Reserve Net Energy Converted Outside of Five Years (Millions of Barrels of Oil Equivalent)	2.3
Percentage of Proved Undeveloped Reserves Expected To Be Developed	19.00%
Present Value Discounted Percentage.	10.00%
Barrel Equivalent [Member] | Proved Undeveloped Reserves [Member]
Proved Developed and Undeveloped Reserve, Net (Energy), Ending Balance (Millions of Barrels of Oil Equivalent)	12.2
Changes Due To Price [Member]
Proved Developed and Undeveloped Reserve, Revision of Previous Estimate (Energy) (Millions of Barrels of Oil Equivalent)	27.7		2.3
Proved Developed and Undeveloped Reserve, Extension and Discovery (Energy) (Millions of Barrels of Oil Equivalent)		10
Changes at the Viosca Knoll 823 [Member]
Proved Developed and Undeveloped Reserve, Extension and Discovery (Energy) (Millions of Barrels of Oil Equivalent)			1.3
Ewing Bank 910 Field [Member]
Proved Developed and Undeveloped Reserve, Extension and Discovery (Energy) (Millions of Barrels of Oil Equivalent)			0.7
Mississippi Canyon 800 (Gladden) Field [Member]
Proved Developed and Undeveloped Reserve, Extension and Discovery (Energy) (Millions of Barrels of Oil Equivalent)		0.9
Mobile Bay and Fairway Properties [Member]
Proved Developed and Undeveloped Reserve, Revision of Previous Estimate (Energy) (Millions of Barrels of Oil Equivalent)	26.2
Mississippi Canyon 243 Field [Member]
Wells Expected To Be Drilled, Year	2022
Virgo Deepwater Fields [Member]
Wells Expected To Be Drilled, Year	2024

Note 19 - Supplemental Oil an_4

Note 19 - Supplemental Oil and Gas Disclosures - Unaudited - Capitalized Costs Related to Oil and Natural Gas (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Proved oil and natural gas properties and equipment	$ 8,567.5	$ 8,532.2	$ 8,169.9
Accumulated depreciation, depletion and amortization related to oil, NGLs and natural gas activities	(7,890.9)	(7,793.3)	(7,665.1)
Net capitalized costs related to producing activities	$ 676.6	$ 738.9	$ 504.8

Note 19 - Supplemental Oil an_5

Note 19 - Supplemental Oil and Gas Disclosures - Cost Incurred in Oil and Gas Property Acquisition Exploration and Development Activities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Costs incurred: (1)
Proved properties acquisitions	[1]	$ 8.1	$ 223.8	$ 24.1
Exploration (2) (3)	[1],[2],[3]	7.4	30.6	49.9
Development	[1]	23.6	114.5	56.2
Total costs incurred in oil and gas property acquisition, exploration and development activities	[1]	$ 39.1	$ 368.9	$ 130.2
[1]	Includes net additions from capitalized ARO of of $18.0 million, $37.5 million, and $20.3 million during 2020, 2019, and 2018, respectively. These adjustments for ARO are associated with acquisitions, liabilities incurred, divestitures and revisions of estimates.
[2]	Includes geological and geophysical costs charged to expense of of $4.5 million, $5.7 million, and $5.4 million during 2020, 2019, and 2018, respectively.
[3]	Includes seismic costs of $0.3 million, $7.8 million, and $1.5 million incurred during 2020, 2019, and 2018, respectively.

Note 19 - Supplemental Oil an_6

Note 19 - Supplemental Oil and Gas Disclosures - Schedule of Depreciation, Depletion, Amortization and Accretion Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation, depletion, amortization and accretion per Boe	$ 7.82	$ 10.01	$ 11.24

Note 19 - Supplemental Oil an_7

Note 19 - Supplemental Oil and Gas Disclosures - Estimated Quantities of Net Proved, Proved Developed and Proved Undeveloped Oil, NGLs and Natural Gas Reserves (Details) Mcfe in Millions, ft³ in Billions, Boe in Billions		12 Months Ended
		Dec. 31, 2020MMBoeMcfeMMBblsft³		Dec. 31, 2019MMBoeMcfeBoeMMBblsft³		Dec. 31, 2018MMBoeMcfeBoeMMBblsft³
Oil [Member]
Proved reserves, balance (Million Barrels of Oil)		37.8		39.1		34.4
Revisions of previous estimates (Million Barrels of Oil)		(0.9)	[1]	1.4	[2]	11.6	[3]
Extensions and discoveries (Million Barrels of Oil)		0.2	[4]	0.9	[5]	0.5	[6]
Purchase of minerals in place (Million Barrels of Oil)		0.7	[7]	3.1	[8]	1.5	[9]
Sales of minerals in place (Million Barrels of Oil)	[10]					(2.2)
Production (Million Barrels of Oil)		(5.6)		(6.7)		(6.7)
Proved reserves, balance (Million Barrels of Oil)		32.2		37.8		39.1
Proved reserves, ending balance (Million Barrels of Oil)		24		28		31.5
Undeveloped reserves, ending balance (Million Barrels of Oil)		8.2	[11]	9.8		7.6
Natural Gas Liquids [Member]
Proved reserves, balance (Million Barrels of Oil)		24.5		9.8		7.8
Revisions of previous estimates (Million Barrels of Oil)		(5.9)	[1]	(1.5)	[2]	2.8	[3]
Extensions and discoveries (Million Barrels of Oil)		0	[4]	0.1	[5]	0.3	[6]
Purchase of minerals in place (Million Barrels of Oil)		0.4	[7]	17.4	[8]	0.4	[9]
Sales of minerals in place (Million Barrels of Oil)	[10]					(0.2)
Production (Million Barrels of Oil)		(1.7)		(1.3)		(1.3)
Proved reserves, balance (Million Barrels of Oil)		17.3		24.5		9.8
Proved reserves, ending balance (Million Barrels of Oil)		16.5		21.7		7.8
Undeveloped reserves, ending balance (Million Barrels of Oil)		0.9	[11]	2.8		2
Natural Gas [Member]
Proved reserves, balance (Million Barrels of Oil) | ft³		571.1		210.5		192.2
Revisions of previous estimates (Million Barrels of Oil) | ft³		31.6	[1]	(16.9)	[2]	40.4	[3]
Extensions and discoveries (Million Barrels of Oil) | ft³		0.2	[4]	1.2	[5]	7.7	[6]
Purchase of minerals in place (Million Barrels of Oil) | ft³		14.8	[7]	417.6	[8]	9.4	[9]
Sales of minerals in place (Million Barrels of Oil) | ft³	[10]					(7.2)
Production (Million Barrels of Oil) | ft³		(48.4)		(41.3)		(32)
Proved reserves, balance (Million Barrels of Oil) | ft³		569.3		571.1		210.5
Proved reserves, ending balance (Million Barrels of Oil) | ft³		550.2		504.9		166.8
Undeveloped reserves, ending balance (Million Barrels of Oil) | ft³		19.1	[11]	66.2		43.7
Oil Equivalent [Member]
Proved reserves, balance (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	157.4		84		74.2
Revisions of previous estimates (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	(1.4)	[1]	(3)	[2]	21.1	[3]
Extensions and discoveries (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	0.2	[4]	1.1	[5]	2.1	[6]
Purchase of minerals in place (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	3.6	[7]	90.1	[8]	3.4	[9]
Sales of minerals in place (Millions of Barrels of Oil Equivalent) | MMBoe	[10],[12]					(3.5)
Production (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	(15.4)		(14.8)		(13.3)
Proved reserves, balance (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	144.4		157.4		84
Proved reserves, ending balance (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	132.2		133.8		67
Undeveloped reserves, ending balance (Millions of Barrels of Oil Equivalent) | MMBoe	[12]	12.2	[11]	23.6		17
Natural Gas Equivalent [Member]
Proved reserves, balance (Millions of Barrels of Oil Equivalent)	[12]	944.5		504.1		445.3
Revisions of previous estimates (Millions of Barrels of Oil Equivalent) | Mcfe	[12]	(8.8)	[1]	(18.2)	[2]	126.7	[3]
Extensions and discoveries (Millions of Barrels of Oil Equivalent) | Mcfe	[12]	1.3	[4]	6.7	[5]	12.6	[6]
Purchase of minerals in place (Millions of Barrels of Oil Equivalent) | Mcfe	[12]	21.8	[7]	540.9	[8]	20.7	[9]
Sales of minerals in place (Millions of Barrels of Oil Equivalent) | Mcfe	[10],[12]					(21.2)
Production (Millions of Barrels of Oil Equivalent)	[12]	(92.3)		(89)		(80)
Proved reserves, balance (Millions of Barrels of Oil Equivalent)	[12]	866.5		944.5		504.1
Proved reserves, ending balance (Millions of Barrels of Oil Equivalent) | Mcfe	[12]	793.3		802.9		402.2
Undeveloped reserves, ending balance (Millions of Barrels of Oil Equivalent) | Mcfe	[12]	73.2	[11]	141.6		101.9
[1]	Decreases of 27.7 MMBoe were due to price revisions for all proved reserves. Increases of 26.2 MMBoe were primarily related to technical revisions at our Mobile Bay and Fairway properties.
[2]	Increases primarily related to upward revisions to our Ship Shoal 028 field and our Main Pass 108 field. Decreases of 10.0 MMBoe were due to price revisions for all proved reserves, which include estimated price revisions of the purchase of minerals in place from the date of purchase to December 31, 2019.
[3]	Primarily related to upward revisions at our Mahogany field and our Ship Shoal 028 field. Additionally, increases of 2.3 MMBoe were due to price revisions.
[4]	Primarily related to the discovery at East Cameron 338 field.
[5]	Primarily related to extensions and discoveries of 0.9 MMBoe at our Mississippi Canyon 800 (Gladden) field.
[6]	Primarily related to extensions and discoveries of 1.3 MMBoe at our Viosca Knoll 823 (Virgo) field and 0.7 MMBoe at our Ewing Bank 910 field.
[7]	Primarily related to the Mobile Bay Properties and Mahogany working interest acquisitions.
[8]	Primarily related to the Mobile Bay Properties and Magnolia acquisitions.
[9]	Primarily related to our Ship Shoal 028 field and our Green Canyon 859 field (Heidelberg).
[10]	Primarily related to conveyance of interest in properties related to the JV Drilling Program.
[11]	We believe that we will be able to develop all but 2.3 MMBoe (approximately 19%) of the total of 12.2 MMBoe reserves classified as proved undeveloped (“PUDs”) at December 31, 2020, within five years from the date such reserves were initially recorded. The lone exceptions are at the Mississippi Canyon 243 field ("Matterhorn") and Viosca Knoll 823 ("Virgo") deepwater fields where future development drilling has been planned as sidetracks of existing wellbores due to conductor slot limitations and rig availability. Two sidetrack PUD locations, one each at Matterhorn and Virgo, will be delayed until an existing well is depleted and available to sidetrack. We also plan to recomplete and convert an existing producer at Matterhorn to water injection for improved recovery following depletion of existing well. Based on the latest reserve report, these PUD locations are expected to be developed in 2022 and 2024.
[12]	The conversion to barrels of oil equivalent and cubic feet equivalent were determined using the energy-equivalent ratio of six Mcf of natural gas to one barrel of crude oil, condensate or NGLs (totals may not compute due to rounding). The energy-equivalent ratio does not assume price equivalency, and the energy-equivalent prices for crude oil, NGLs and natural gas may differ significantly.

Note 19 - Supplemental Oil an_8

Note 19 - Supplemental Oil and Gas Disclosures - Schedule of Prices Weighted by Field Production Related to Proved Reserves (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Oil [Member]
Weighted price	$ 37.78	$ 58.11	$ 65.21	$ 46.58
Natural Gas Liquids [Member]
Weighted price	10.29	18.72	29.73	22.65
Natural Gas [Member]
Weighted price	$ 2.05	$ 2.63	$ 3.13	$ 2.86

Note 19 - Supplemental Oil an_9

Note 19 - Supplemental Oil and Gas Disclosures - Standardized Measure of Discounted Future Net Cash Flows (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Standardized Measure of Discounted Future Net Cash Flows
Future cash inflows	$ 2,561.2	$ 4,153.8	$ 3,500.9
Production	(1,257.4)	(1,901.1)	(958.5)
Development and abandonment	(707.4)	(794.7)	(628.3)
Income taxes	(60.5)	(170.5)	(293.9)
Future net cash inflows before 10% discount	535.9	1,287.5	1,620.2
10% annual discount factor	(42.2)	(300.6)	(553.2)
Total	$ 493.7	$ 986.9	$ 1,067	$ 740.6

Note 19 - Supplemental Oil a_10

Note 19 - Supplemental Oil and Gas Disclosures - Change in Standard Measure of Discounted Future Net Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes in Standardized Measure
Standardized measure, beginning of year	$ 986.9	$ 1,067	$ 740.6
Sales and transfers of oil and gas produced, net of production costs	(168.6)	(315.8)	(398.1)
Net changes in price, net of future production costs	(503.7)	(376.4)	571.5
Extensions and discoveries, net of future production and development costs	2.8	27	53.6
Changes in estimated future development costs	(15.9)	(6)	(114.7)
Previously estimated development costs incurred	1.4	19.3	48.4
Revisions of quantity estimates	(65.2)	116.4	307.6
Accretion of discount	111.8	107.4	50.5
Net change in income taxes	(87.7)	(62.9)	133.4
Purchases of reserves in-place	44.6	298.3	27.8
Sales of reserves in-place	0	0	(54.1)
Changes in production rates due to timing and other	11.9	(13.2)	(32.7)
Net (decrease) increase	(493.2)	(80.1)	326.4
Standardized measure, end of year	$ 493.7	$ 986.9	$ 1,067