HighPeak Energy (HPK) 10-Q 5 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-39464
Entity Registrant Name	HighPeak Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3533602
Entity Address, Address Line One	421 W. 3rd St., Suite 1000
Entity Address, Postal Zip Code	76102
Entity Address, City or Town	Fort Worth
Entity Address, State or Province	TX
City Area Code	817
Local Phone Number	850-9200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		127,379,000
Entity Central Index Key	0001792849
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	HPK
Security Exchange Name	NASDAQ
Warrant [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Common Stock
Trading Symbol	HPKEW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 157,911,000	$ 194,515,000
Accounts receivable	87,561,000	94,589,000
Inventory	7,817,000	7,254,000
Prepaid expenses	3,073,000	995,000
Derivative instruments	2,278,000	31,480,000
Total current assets	258,640,000	328,833,000
Crude oil and natural gas properties, using the successful efforts method of accounting:
Proved properties	3,654,399,000	3,338,107,000
Unproved properties	75,690,000	72,715,000
Accumulated depletion, depreciation and amortization	(942,594,000)	(684,179,000)
Total crude oil and natural gas properties, net	2,787,495,000	2,726,643,000
Other property and equipment, net	3,518,000	3,572,000
Derivative instruments	227,000	16,059,000
Other noncurrent assets	6,577,000	5,684,000
Total assets	3,056,457,000	3,080,791,000
Current liabilities:
Current maturities of long-term debt	120,000,000	120,000,000
Accrued capital expenditures	48,905,000	39,231,000
Accounts payable – trade	40,452,000	63,583,000
Revenues and royalties payable	27,860,000	29,724,000
Other accrued liabilities	22,490,000	19,613,000
Derivative instruments	12,599,000	13,054,000
Advances from joint interest owners	5,308,000	262,000
Accrued interest	825,000	1,398,000
Operating leases	422,000	528,000
Total current liabilities	278,861,000	287,393,000
Noncurrent liabilities:
Long-term debt, net	979,266,000	1,030,299,000
Deferred income taxes	213,038,000	197,068,000
Asset retirement obligations	13,911,000	13,245,000
Derivative instruments	775,000	65,000
Operating leases	165,000	0
Commitments and Contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding at March 31, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value, 600,000,000 shares authorized, 127,495,868 and 128,420,923 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	13,000	13,000
Additional paid-in capital	1,182,302,000	1,189,424,000
Retained earnings	388,126,000	363,284,000
Total stockholders’ equity	1,570,441,000	1,552,721,000
Total liabilities and stockholders’ equity	$ 3,056,457,000	$ 3,080,791,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred Stock, Shares Issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common Stock, Shares, Issued (in shares)	127,495,868	128,420,923
Common stock, shares outstanding (in shares)	127,495,868	128,420,923

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Revenues:
Revenue	$ 275,266	$ 240,760	$ 563,030	$ 464,554
Operating costs and expenses:
Crude oil and natural gas production	32,798	34,934	63,069	67,876
Production and ad valorem taxes	16,596	13,259	30,998	25,556
Exploration and abandonments	167	480	665	2,644
Depletion, depreciation and amortization	127,693	93,011	258,543	174,142
Accretion of discount	242	120	481	238
General and administrative	4,735	2,516	9,420	5,018
Stock-based compensation	3,775	3,984	7,573	8,038
Total operating costs and expenses	186,006	148,304	370,749	283,512
Other expense	2,000	7,502	2,001	7,502
Income from operations	87,260	84,954	190,280	173,540
Interest income	2,400	163	4,792	193
Interest expense	(42,991)	(39,284)	(86,625)	(66,256)
Loss on derivative instruments, net	(2,702)	(4,363)	(55,745)	(1,243)
Income before income taxes	43,967	41,470	52,702	106,234
Provision for income taxes	14,250	9,644	16,547	24,151
Net income	$ 29,717	$ 31,826	$ 36,155	$ 82,083
Earnings per share: (in dollars per share)	$ 0.21	$ 0.25	$ 0.25	$ 0.64
Basic net income (in dollars per share)	$ 0.21	$ 0.26	$ 0.26	$ 0.67
Weighted average shares outstanding: (in shares)	129,248	115,978	129,265	117,127
Basic (in shares)	125,341	111,227	125,341	111,227
Dividends declared per share (in dollars per share)	$ 0.04	$ 0.025	$ 0.08	$ 0.05
Crude Oil Sales [Member]
Operating Revenues:
Revenue	$ 274,590	$ 236,390	$ 556,959	$ 452,086
Natural Gas and NGL Sales [Member]
Operating Revenues:
Revenue	$ 676	$ 4,370	$ 6,071	$ 12,468

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member] Outside Directors [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Outside Directors [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member] Outside Directors [Member]	Retained Earnings [Member]	Outside Directors [Member]	Total
Balance (in shares) at Dec. 31, 2022		113,165,000
Balance at Dec. 31, 2022		$ 11		$ 1,008,896		$ 160,740		$ 1,169,647
Dividends declared		0		0		(2,829)		(2,829)
Dividend equivalents declared on outstanding stock options		0		0		(288)		(288)
Compensation costs included in net income		0		4,054		0		4,054
Net income		$ 0		0		50,257		50,257
Exercise of warrants (in shares)		0
Exercise of warrants		$ 0		2		0		2
Net income		$ 0		0		50,257		50,257
Balance (in shares) at Mar. 31, 2023		113,177,000
Balance at Mar. 31, 2023		$ 11		1,013,100		207,880		1,220,991
Shares issued upon options being exercised (in shares)		12,000
Shares issued upon options being exercised		$ 0		148		0		148
Balance (in shares) at Dec. 31, 2022		113,165,000
Balance at Dec. 31, 2022		$ 11		1,008,896		160,740		1,169,647
Net income								82,083
Net income								82,083
Balance (in shares) at Jun. 30, 2023		113,386,000
Balance at Jun. 30, 2023		$ 11		1,018,810		236,589		$ 1,255,410
Shares issued upon options being exercised (in shares)								11,834
Balance (in shares) at Dec. 31, 2022		113,165,000
Balance at Dec. 31, 2022		$ 11		1,008,896		160,740		$ 1,169,647
Balance (in shares) at Dec. 31, 2023		128,421,000
Balance at Dec. 31, 2023		$ 13		1,189,424		363,284		$ 1,552,721
Shares issued upon options being exercised (in shares)								11,834
Balance (in shares) at Mar. 31, 2023		113,177,000
Balance at Mar. 31, 2023		$ 11		1,013,100		207,880		$ 1,220,991
Dividends declared		0		0		(2,830)		(2,830)
Dividend equivalents declared on outstanding stock options		0		0		(287)		(287)
Compensation costs included in net income		0		3,984		0		3,984
Net income		$ 0		0		31,826		31,826
Exercise of warrants (in shares)		150,000
Exercise of warrants		$ 0		1,726		0		1,726
Restricted shares issued to outside directors (in shares)	59,000
Restricted shares issued to outside directors	$ 0		$ 0		$ 0		$ 0
Net income		$ 0		0		31,826		31,826
Balance (in shares) at Jun. 30, 2023		113,386,000
Balance at Jun. 30, 2023		$ 11		1,018,810		236,589		1,255,410
Balance (in shares) at Dec. 31, 2023		128,421,000
Balance at Dec. 31, 2023		$ 13		1,189,424		363,284		1,552,721
Dividends declared		0		0		(5,137)		(5,137)
Dividend equivalents declared on outstanding stock options		$ 0		0		(532)		(532)
Repurchased shares under buyback program (in shares)		(566,000)
Repurchased shares under buyback program		$ 0		(8,851)		0		(8,851)
Compensation costs included in net income		0		3,798		0		3,798
Net income		0		0		6,438		6,438
Net income		$ 0		0		6,438		6,438
Balance (in shares) at Mar. 31, 2024		127,855,000
Balance at Mar. 31, 2024		$ 13		1,184,371		364,053		1,548,437
Balance (in shares) at Dec. 31, 2023		128,421,000
Balance at Dec. 31, 2023		$ 13		1,189,424		363,284		1,552,721
Net income								36,155
Net income								36,155
Balance (in shares) at Jun. 30, 2024		127,496,000
Balance at Jun. 30, 2024		$ 13		1,182,302		388,126		$ 1,570,441
Shares issued upon options being exercised (in shares)								0
Balance (in shares) at Mar. 31, 2024		127,855,000
Balance at Mar. 31, 2024		$ 13		1,184,371		364,053		$ 1,548,437
Dividends declared		0		0		(5,114)		(5,114)
Dividend equivalents declared on outstanding stock options		$ 0		0		(530)		(530)
Repurchased shares under buyback program (in shares)		(413,000)
Repurchased shares under buyback program		$ 0		(5,845)		0		(5,845)
Compensation costs included in net income		0		3,775		0		3,775
Net income		$ 0		0		29,717		29,717
Exercise of warrants (in shares)		0
Exercise of warrants		$ 0		1		0		1
Restricted shares issued to outside directors (in shares)	54,000
Restricted shares issued to outside directors	$ 0		$ 0		$ 0		$ 0
Net income		$ 0		0		29,717		29,717
Balance (in shares) at Jun. 30, 2024		127,496,000
Balance at Jun. 30, 2024		$ 13		$ 1,182,302		$ 388,126		$ 1,570,441

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.04	$ 0.04	$ 0.025	$ 0.025
Dividend Equivalents, Per Share, Declared (in dollars per share)	$ 0.04	$ 0.04	$ 0.025	$ 0.025

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 29,717	$ 6,438	$ 31,826	$ 50,257	$ 36,155	$ 82,083
Adjustments to reconcile net income to net cash provided by operations:
Provision for deferred income taxes					15,970	24,151
Loss on derivative instruments, net	2,702		4,363		55,745	1,243
Cash paid on settlement of derivative instruments	(5,308)		(5,066)		(10,456)	(7,260)
Amortization of debt issuance costs					4,119	5,704
Amortization of discounts on long-term debt					4,906	8,627
Stock-based compensation expense					7,573	8,038
Accretion expense					481	238
Depletion, depreciation and amortization	127,693		93,011		258,543	174,142
Exploration and abandonment expense					229	2,186
Changes in operating assets and liabilities:
Accounts receivable					7,038	(4,378)
Prepaid expenses, inventory and other assets					(2,900)	3,941
Accounts payable, accrued liabilities and other current liabilities					(3,633)	64,961
Net cash provided by operating activities					373,770	363,676
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to crude oil and natural gas properties					(311,897)	(678,968)
Changes in working capital associated with crude oil and natural gas property additions					(5,226)	74,736
Acquisitions of crude oil and natural gas properties					(7,415)	(7,789)
Proceeds from sales of properties					48	0
Deposit and other costs related to pending acquisitions					0	(397)
Other property additions					(122)	(103)
Net cash used in investing activities					(324,612)	(612,521)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchased shares under buyback program					14,551	0
Dividends paid					(10,086)	(5,554)
Dividend equivalents paid					(1,068)	(569)
Debt issuance costs					(58)	(1,399)
Proceeds from exercises of warrants					1	1,728
Proceeds from exercises of stock options					0	148
Stock offering costs					0	(748)
Net cash (used in) provided by financing activities					(85,762)	248,606
Net (decrease) increase in cash and cash equivalents					(36,604)	(239)
Cash and cash equivalents, beginning of period		$ 194,515		$ 30,504	194,515	30,504	$ 30,504
Cash and cash equivalents, end of period	$ 157,911		$ 30,265		157,911	30,265	$ 194,515
Supplemental cash flow information:
Cash paid for interest					78,173	51,027
Cash paid for income taxes					0	0
Supplemental disclosure of non-cash transactions:
Additions to asset retirement obligations					256	186
Term Loan Credit Agreement [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments under Term Loan Credit Agreement					(60,000)	0
Senior Credit Facility Agreement Due 2026 [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Prior Credit Agreement					$ 0	$ 255,000

Note 1 - Organization and Natur

Note 1 - Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1. Organization and Nature of Operations HighPeak Energy, Inc. ("HighPeak Energy" or the "Company,") is a Delaware corporation, formed in October 2019. See the Company’s Annual Report on Form 10-K for the year ended December 31, 2023

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 2. Basis of Presentation and Summary of Significant Accounting Policies Presentation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the SEC. These unaudited interim condensed consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Principles of consolidation. Use of estimates in the preparation of financial statements. Cash and cash equivalents. Accounts receivable. Accounts receivable are stated at amounts due from purchasers or joint interest owners, net of an allowance for expected losses as estimated by the Company when collection is doubtful. For receivables from joint interest owners, the Company typically has the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. Accounts receivable from purchasers or joint interest owners outstanding longer than the contractual payment terms are considered past due. The Company determines its allowance for each type of receivable by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the debtor’s current ability to pay its obligation to the Company, the condition of the general economy and the industry as a whole. The Company writes off specific accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for expected losses. As of June 30, 2024 and December 31, 2023, the Company had no Concentration of credit risk. Inventory. Prepaid expenses. Crude oil and natural gas properties. The Company does not carry the costs of drilling an exploratory well as an asset in its condensed consolidated balance sheet following the completion of drilling unless both of the following conditions are met: (i) the well has found a sufficient quantity of reserves to justify its completion as a producing well and (ii) the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project. Due to the capital-intensive nature and the geographical location of certain projects, it may take an extended period of time to evaluate the future potential of an exploration project and the economics associated with making a determination on its commercial viability. In these instances, the project’s feasibility is not contingent upon price improvements or advances in technology, but rather the Company’s ongoing efforts and expenditures related to accurately predict the hydrocarbon recoverability based on well information, gaining access to other companies’ production data in the area, transportation or processing facilities and/or getting partner approval to drill additional appraisal wells. These activities are ongoing and are being pursued constantly. Consequently, the Company’s assessment of suspended exploratory well costs is continuous until a decision can be made that the project has found sufficient proved reserves to sanction the project or is noncommercial and is charged to exploration and abandonment expense. See Note 6 for additional information. The capitalized costs of proved properties are depleted using the unit-of-production method based on proved reserves for leasehold costs and proved developed reserves for drilling, completion and other crude oil and natural gas property costs. Unproved leasehold costs are excluded from depletion until proved reserves are established or, if unsuccessful, impairment is determined. Proceeds from the sales of individual properties are credited to proved or unproved crude oil and natural gas properties, as the case may be, if doing so does not materially impact the depletion rate of an amortization base. Generally, no gain or loss is recorded until an entire amortization base is sold. However, gain or loss is recorded from the sale of less than an entire amortization base if the disposition is significant enough to materially impact the depletion rate of the remaining properties in the amortization base. The Company performs assessments of its long-lived assets to be held and used, including proved crude oil and natural gas properties accounted for under the successful efforts method of accounting, whenever events or circumstances indicate that the carrying value of those assets may not be recoverable. If there is an indication the carrying value of the assets may not be recovered, an impairment loss is recognized if the sum of the expected future cash flows is less than the carrying amount of the assets. In these circumstances, the Company recognizes an impairment charge for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Unproved crude oil and natural gas properties are periodically assessed for impairment on a project-by-project basis. These impairment assessments are affected by the estimates of future recoverable reserves, results of exploration activities, commodity price outlooks, planned future sales or expirations of all or a portion of such projects. If the estimated future net cash flows attributable to such projects are not expected to be sufficient to fully recover the costs invested in each project, the Company will recognize an impairment charge at that time. Other property and equipment, net. June 30, 2024 December 31, 2023 Land $ 2,091 $ 2,139 Transportation equipment 700 689 Buildings 523 530 Leasehold improvements 201 209 Field equipment 3 4 Furniture and fixtures — 1 Total other property and equipment, net $ 3,518 $ 3,572 Other property and equipment are depreciated over their estimated useful life on a straight-line basis. Land is not depreciated. Transportation equipment is generally depreciated over five forty seven five The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such assets are considered to be impaired, the impairment to be recorded is measured by the amount by which the carrying amount of the asset exceeds its estimated fair value. The estimated fair value is determined using either a discounted future cash flow model or another appropriate fair value method. Aid-in-construction assets. Leases. Current liabilities. Debt issuance costs and original issue discount. Asset retirement obligations. Revenue recognition . The Company enters into contracts with purchasers to sell its crude oil, NGL and natural gas production. Revenue on these contracts is recognized in accordance with the five-step revenue recognition model prescribed in ASC 606. Specifically, revenue is recognized when the Company’s performance obligations under these contracts are satisfied, which generally occurs with the transfer of control of the crude oil and natural gas to the purchaser. Control is generally considered transferred when the following criteria are met: (i) transfer of physical custody, (ii) transfer of title, (iii) transfer of risk of loss and (iv) relinquishment of any repurchase rights or other similar rights. Given the nature of the products sold, revenue is recognized at a point in time based on the amount of consideration the Company expects to receive in accordance with the price specified in the contract. Consideration under the crude oil and natural gas marketing contracts is typically received from the purchaser one two Crude Oil Contracts. Natural Gas Contracts. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. The exemption, as described in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Derivatives. The Company’s credit risk related to derivatives is a counterparties’ failure to perform under derivative contracts owed to the Company. The Company uses credit and other financial criteria to evaluate the credit standing of, and to select, counterparties to its derivative instruments. Although the Company does not obtain collateral or otherwise secure the fair value of its derivative instruments, associated credit risk is mitigated by the Company’s credit risk policies and procedures. The Company has entered into International Swap Dealers Association Master Agreements (“ISDA Agreements”) with each of its derivative counterparties. The terms of the ISDA Agreements provide the Company and the counterparties with rights of set off upon the occurrence of defined acts of default by either the Company or a counterparty to a derivative, whereby the party not in default may set off all derivative liabilities owed to the defaulting party against all derivative asset receivables from the defaulting party. See Note 5 for additional information. Income taxes. The Company reviews its deferred tax assets for recoverability and establishes a valuation allowance based on projected future taxable income, applicable tax strategies and the expected timing of the reversals of existing temporary differences. A valuation allowance is provided when it is more likely than not (likelihood of greater than 50 percent) that some portion or all the deferred tax assets will not be realized. The Company has not established a valuation allowance as of June 30, 2024 or December 31, 2023. Tax benefits from an uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based upon the technical merits of the position. If all or a portion of the unrecognized tax benefit is sustained upon examination by the taxing authorities, the tax benefit will be recognized as a reduction to the Company’s deferred tax liability and will affect the Company’s effective tax rate in the period it is recognized. See Note 13 for additional information. Tax-related interest charges are recorded as interest expense and any tax-related penalties as other expense in the condensed consolidated statements of operations of which there have been none to date. The Company is also subject to Texas Margin Tax. The Company realized $301,000 and zero Stock-based compensation. Stock-based compensation for restricted stock awarded to outside directors, employee members of the Board and certain other employees is measured at the grant date using the fair value of the award and is recognized on a straight-line basis over the requisite service period of the respective award. Segments. one Recently adopted accounting pronouncements. New accounting pronouncements not yet adopted. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. The amendments in this ASU are effective for public entities for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of this standard on its disclosures. In March 2024, the SEC adopted new climate rules that require a wide range of climate-related disclosures, including material climate-related risks, information on climate-related targets or goals that are material to the registrant’s business, results of operations or financial condition, Scope 1 and Scope 2 greenhouse gas emissions on a phased-in basis by large accelerated filers and accelerated filers when those emissions are material and the filing of an attestation report covering the same, and disclosure of the financial statement effects of severe weather events and other natural conditions including costs and losses. Compliance dates under the final rule are phased in by registrant category. Multiple lawsuits have been filed challenging the SEC’s new climate rules, which have been consolidated and will be heard in the U.S. Court of Appeals for the Eighth Circuit. In April 2024, the SEC issued an order staying the final rules until judicial review is complete. The Company is currently evaluating the impact of the final rules on its disclosures. The Company considers the applicability and the impact of all ASUs. ASUs were assessed and determined to be either not applicable, the effects of adoption are not expected to be material or are clarifications of ASUs previously disclosed.

Note 3 - Acquisitions

Note 3 - Acquisitions	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Acquisitions [Text Block]	NOTE 3. Acquisitions During the six months ended June 30, 2024 and 2023, the Company incurred a total of $7.4 million and $7.8 million, respectively, in acquisition costs primarily to acquire various undeveloped crude oil and natural gas leases largely contiguous to its Flat Top and Signal Peak operating areas.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 4. Fair Value Measurements The Company determines fair value based on the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based upon inputs that market participants use in pricing an asset or liability, which are characterized according to a hierarchy that prioritizes those inputs based on the degree to which they are observable. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company’s own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. The fair value input hierarchy level to which an asset or liability measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety. The three input levels of the fair value hierarchy are as follows: ● Level 1 – quoted prices for identical assets or liabilities in active markets. ● Level 2 – quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates) and inputs derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – unobservable inputs for the asset or liability, typically reflecting management’s estimate of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore, determined using model-based techniques, including discounted cash flow models. Assets and liabilities measured at fair value on a recurring basis. As of June 30, 2024 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Commodity price derivatives – current $ — $ 2,278 $ — $ 2,278 Commodity price derivatives – noncurrent — 227 — 227 Total assets — 2,505 — 2,505 Liabilities: Commodity price derivatives – current — 12,599 — 12,599 Commodity price derivatives – noncurrent — 775 — 775 Total liabilities — 13,374 — 13,374 Total recurring fair value measurements, net $ — $ (10,869 ) $ — $ (10,869 ) As of December 31, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Commodity price derivatives – current $ — $ 31,480 $ — $ 31,480 Commodity price derivatives – noncurrent — 16,059 — 16,059 Total assets — 47,539 — 47,539 Liabilities: Commodity price derivatives – current — 13,054 — 13,054 Commodity price derivatives – noncurrent — 65 — 65 Total liabilities — 13,119 — 13,119 Total recurring fair value measurements, net $ — $ 34,420 $ — $ 34,420 Commodity price derivatives. Assets and liabilities measured at fair value on a nonrecurring basis. Financial instruments not carried at fair value.

Note 5 - Derivative Financial I

Note 5 - Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	NOTE 5. Derivative Financial Instruments The Company primarily utilizes commodity swap contracts, deferred premium put options and enhanced collars to (i) reduce the effect of price volatility on the commodities the Company produces and sells, (ii) support the Company’s capital budgeting and expenditure plans, (iii) protect the Company’s commitments under the Term Loan Credit Agreement and Senior Credit Facility Agreement and (iv) support the payment of contractual obligations. The following table summarizes the effect of derivative instruments on the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Noncash derivative gain (loss), net $ 2,606 $ 703 $ (45,289 ) $ 6,017 Cash payments on settled derivatives, net (5,308 ) (5,066 ) (10,456 ) (7,260 ) Derivative loss, net $ (2,702 ) $ (4,363 ) $ (55,745 ) $ (1,243 ) Crude oil production derivatives. The Company’s outstanding NYMEX WTI Cushing and Argus WTI Midland crude oil derivative instruments as of June 30, 2024 and the weighted average crude oil prices and premiums payable per barrel for those contracts are as follows: Swaps Enhanced Collars & Deferred Premium Puts Settlement Month Year Type of Contract Bbls Per Day Index Price per Bbl Floor or Strike Price per Bbl Ceiling Price per Bbl Deferred Premium Payable per Bbl Crude Oil: Jul – Sep 2024 Swap 4,000 WTI Cushing $ 84.00 $ — $ — $ — Jul – Sep 2024 Basis Swap 25,000 Argus WTI Midland $ 1.12 $ — $ — $ — Jul – Sep 2024 Collar 1,500 WTI Cushing $ — $ 69.00 $ 95.00 $ 0.85 Jul – Sep 2024 Put 14,000 WTI Cushing $ — $ 60.41 $ — $ 5.00 Oct – Dec 2024 Swap 5,500 WTI Cushing $ 76.37 $ — $ — $ — Oct – Dec 2024 Basis Swap 25,000 Argus WTI Midland $ 1.12 $ — $ — $ — Oct – Dec 2024 Collar 10,600 WTI Cushing $ — $ 65.68 $ 90.32 $ 1.85 Oct – Dec 2024 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 Jan – Mar 2025 Swap 5,500 WTI Cushing $ 76.37 $ — $ — $ — Jan – Mar 2025 Collar 8,000 WTI Cushing $ — $ 65.00 $ 90.00 $ 2.12 Jan – Mar 2025 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 Apr – Jun 2025 Swap 5,500 WTI Cushing $ 76.37 $ — $ — $ — Apr – Jun 2025 Collar 7,000 WTI Cushing $ — $ 65.00 $ 90.08 $ 2.28 Apr – Jun 2025 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 Jul – Sep 2025 Swap 3,000 WTI Cushing $ 75.85 $ — $ — $ — Jul – Sep 2025 Collar 7,000 WTI Cushing $ — $ 65.00 $ 90.08 $ 2.28 Jul – Sep 2025 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 The Company uses credit and other financial criteria to evaluate the credit standings of, and to select, counterparties to its derivative financial instruments. Although the Company does not obtain collateral or otherwise secure the fair value of its derivative financial instruments, associated credit risk is mitigated by the Company’s credit risk policies and procedures. Net derivative liabilities associated with the Company’s open commodity derivative instruments by counterparty are as follows (in thousands): As of June 30, 2024 Macquarie Bank Limited $ (7,251 ) Mercuria Energy Trading SA (1,950 ) Wells Fargo Bank, National Association (1,858 ) Fifth Third Bank, National Association 190 $ (10,869 )

Note 6 - Exploratory_Extension

Note 6 - Exploratory/Extension Well Costs	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Exploratory Well Costs [Text Block]	NOTE 6. Exploratory/Extension Well Costs The Company capitalizes exploratory/extension wells and project costs until a determination is made that the well or project has either found proved reserves, is impaired or is sold. The Company’s capitalized exploratory/extension well and project costs are included in proved properties in the condensed consolidated balance sheets. If the exploratory/extension well or project is determined to be impaired, the impaired costs are charged to exploration and abandonments expense. The changes in capitalized exploratory/extension well costs are as follows (in thousands): Six Months Ended June 30, 2024 Beginning capitalized exploratory/extension well costs $ 40,888 Additions to exploratory/extension well costs 61,832 Reclassification to proved properties (67,944 ) Exploratory/extension well costs charged to exploration and abandonment expense (229 ) Ending capitalized exploratory/extension well costs $ 34,547 All capitalized exploratory/extension well costs have been capitalized for less than one

Note 7 - Long-term Debt

Note 7 - Long-term Debt	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Long-Term Debt [Text Block]	NOTE 7. Long-Term Debt The components of long-term debt, including the effects of debt issuance costs, are as follows (in thousands): June 30, 2024 December 31, 2023 Term Loan Credit Agreement due 2026 $ 1,140,000 $ 1,200,000 Senior Credit Facility Agreement due 2026 — — Discounts, net (a) (22,156 ) (27,062 ) Debt issuance costs, net (b) (18,578 ) (22,639 ) Total debt 1,099,266 1,150,299 Less current maturities of long-term debt (120,000 ) (120,000 ) Long-term debt, net $ 979,266 $ 1,030,299 (a) Discounts as of June 30, 2024 and December 31, 2023 consisted of $30.0 million in discounts less accumulated amortization of $7.8 million and $2.9 million, respectively. (b) Debt issuance costs as of June 30, 2024 and December 31, 2023 consisted of $25.1 million and $25.0 million, respectively, in costs less accumulated amortization of $6.5 million and $2.4 million, respectively. Term Loan Credit Agreement. The Term Loan Credit Agreement also contains certain financial covenants, including (i) an asset coverage ratio that may not be less than 1.50 to 1.00 and (ii) a total net leverage ratio that may not exceed 2.00 to 1.00. Additionally, the Term Loan Credit Agreement contains additional restrictive covenants that limit the ability of the Company and its restricted subsidiaries to, among other things, incur additional indebtedness (with such exceptions including, among other things, a super priority revolving credit facility limited to $100 million), incur additional liens, make investments and loans, enter into mergers and acquisitions, materially increase dividends and other payments, enter into certain hedging transactions, sell assets, engage in transactions with affiliates and make certain capital expenditures based on the Company’s total net leverage ratio. The Term Loan Credit Agreement contains customary mandatory prepayments, including quarterly installments of $30.0 million in aggregate principal amount which began March 31, 2024 ($60.0 million paid to date through June 30, 2024), the prepayment of gross proceeds from an incurred indebtedness other than Permitted Indebtedness (as defined in the Term Loan Credit Agreement), the prepayment of net cash proceeds for asset sales and hedge terminations in excess of $20.0 million within one calendar year, and prepayments of Excess Cash Flow (as defined in the Term Loan Credit Agreement) which began with the fiscal quarter ending March 31, 2024 (none paid to date as of June 30, 2024). In addition, the Term Loan Credit Agreement is subject to customary events of default, including a change in control. If an event of default occurs and is continuing, the collateral agent or the majority lenders may accelerate any amounts outstanding and terminate lender commitments. Collateral Agency Agreement. The Collateral Agency Agreement provides for the appointment of Texas Capital, as collateral agent, for the present and future holders of the first lien obligations (including the obligations of the Company and certain of its subsidiaries under the Term Loan Credit Agreement) to receive, hold, administer and distribute the collateral that is at any time delivered to Texas Capital or the subject of the Security Documents (as defined in the Collateral Agency Agreement) and to enforce the Security Documents and all interests, rights, powers and remedies of Texas Capital with respect thereto or thereunder and the proceeds thereof. Senior Credit Facility Agreement. The Term Loan Credit Agreement and the Senior Credit Facility Agreement have hedging requirements to which the Company adheres. Prior Credit Agreement In July 2023, the Company entered into the Ninth Amendment to, among other things, provide for (i) a waiver of the minimum current ratio covenant for the fiscal quarter ended June 30, 2023 under the Prior Credit Agreement, (ii) a waiver of the failure to subject one or more certain accounts to an Account Control Agreement within the period provided in the Prior Credit Agreement, (iii) a postponement of the April 2023 borrowing base redetermination until September 2023, (iv) a postponement of the date on which the Company was previously obligated thereunder to either extend the maturity of the 10.000% Senior Notes due February 2024, redeem or refinance the 10.000% Senior Notes or allocate a portion of the Company’s cash flow satisfactory to the Administrative Agent and the Majority Lenders that will retire the 10.000% Senior Notes on or before November 30, 2023 to September 1, 2023 or such later date as agreed to in writing by the Majority Lenders in their reasonable discretion, (v) certain pricing increases and additional minimum hedging requirements, (vi) an additional requirement to deliver a 13-week cash flow forecast on a weekly basis through completion of the September 2023 borrowing base redetermination and (vii) a temporary restriction on borrowing further amounts under the Prior Credit Agreement until the Company has received at least $95 million of net proceeds from the sales of the Company’s equity securities, which has been subsequently satisfied and the restriction no longer applies. In connection with the entry into the aforementioned Term Loan Credit Agreement, the Prior Credit Agreement was terminated, all outstanding obligations for principal, interest and fees were paid in full, and all liens securing such obligations and guarantees of such obligations and securing any letter of credit or hedging obligations (other than those novated pursuant to the terms of the Term Loan Credit Agreement) permitted by the Prior Credit Agreement to be secured by such liens were released. In addition, unamortized debt issuance costs as of the termination date of $2.7 million were charged to expense and included in loss on extinguishment of debt during the third quarter of 2023. 10.000% Senior Notes. zero 10.625% Senior Notes.

Note 8 - Asset Retirement Oblig

Note 8 - Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Asset Retirement Obligation Disclosure [Text Block]	NOTE 8. Asset Retirement Obligations The Company’s asset retirement obligations primarily relate to the future plugging and abandonment of wells and remediation of related facilities. Market risk premiums associated with asset retirement obligations are estimated to represent a component of the Company’s credit-adjusted risk-free rate that is utilized in the calculations of asset retirement obligations. Asset retirement obligations activity is as follows (in thousands): Six Months Ended June 30, 2024 Beginning asset retirement obligations $ 13,245 Liabilities incurred from new wells 296 Dispositions (111 ) Accretion of discount 481 Ending asset retirement obligations $ 13,911 As of June 30, 2024 and December 31, 2023, all asset retirement obligations are considered noncurrent and classified as such in the accompanying condensed consolidated balance sheets.

Note 9 - Incentive Plans

Note 9 - Incentive Plans	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 9. Incentive Plans 401(k) Plan. three four Long-Term Incentive Plan. June 30, 2024 December 31, 2023 Approved and authorized shares 16,414,015 16,414,015 Shares subject to awards issued under plan (15,808,671 ) (15,759,791 ) Shares available for future grant 605,344 654,224 Stock options. The Company estimates the fair value of stock options granted on the grant date using a Black-Scholes option valuation model, which requires the Company to make several assumptions. The expected term of options granted was determined based on the simplified method of the midpoint between the vesting dates and the contractual term of the options. The risk-free interest rate is based on the U.S. treasury yield curve rate for the expected term of the option at the date of grant and the volatility was based on the volatility of either an index of exploration and production crude oil and natural gas companies or on a peer group of companies with similar characteristics of the Company on the date of grant since the Company had minimal or did not have any trading history. More detailed stock options activity and details are as follows: Stock Options Average Exercise Price Remaining Term in Years Intrinsic Value (in thousands) Outstanding at December 31, 2022 11,517,228 $ 12.20 7.9 $ 128,429 Awards granted 1,949,000 10.50 Exercised (11,834 ) $ 12.52 Forfeitures (5,333 ) $ 24.83 Outstanding at December 31, 2023 13,449,061 $ 11.95 6.3 $ 47,672 Forfeitures (4,999 ) $ 26.44 Outstanding at June 30, 2024 13,444,062 $ 11.95 5.8 $ 160,592 Vested at December 31, 2023 13,387,074 $ 11.88 6.3 $ 47,672 Exercisable at December 31, 2023 11,438,074 $ 12.12 6.9 $ 40,383 Vested at June 30, 2024 13,428,404 $ 11.94 5.8 $ 160,279 Exercisable at June 30, 2024 11,479,404 $ 12.18 6.4 $ 139,815 Restricted stock issued to employee members of the Board and certain employees. three Stock issued to outside directors.

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 10. Commitments and Contingencies Leases. right-of-use assets current liabilities noncurrent liabilities right-of-use assets June 30, 2024 Remainder of 2024 $ 363 2025 261 Total 624 Less present value discount (37 ) Present value of lease liabilities $ 587 Legal actions. Indemnifications. Environmental. Crude oil delivery commitments. eight Natural gas purchasing replacement contract. Natural Gas Gathering and Treating Agreement (Signal Peak). Power contracts. Sand commitments.

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 11. Related Party Transactions Underwritten Equity Offering. Water Treatment.

Note 12 - Major Customers

Note 12 - Major Customers	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 12. Major Customers Delek accounted for approximately 75% and 77% and Energy Transfer Crude Marketing, LLC (“ETC”) accounted for approximately 19% and 19% of the Company’s revenues during the six months ended June 30, 2024 and 2023, respectively. Based on the current demand for crude oil and natural gas and the availability of other purchasers, management believes the loss of either of these major purchasers would not have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers.

Note 13 - Income Taxes

Note 13 - Income Taxes	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 13. Income Taxes 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. The Company is subject to corporate income taxes and Texas margin tax. The Company and its subsidiaries file a U.S. federal corporate income tax return on a consolidated basis. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (“IRA 2022”), which among other tax provisions, created a 15 percent corporate alternative minimum tax (“CAMT”) on the “adjusted financial statement income” of certain large corporations (generally, corporations reporting at least $1.0 billion of average adjusted pre-tax net income on their consolidated financial statements) as well as an excise tax of 1% on the fair market value of certain public company stock repurchases for tax years beginning after December 31, 2022. Based on application of currently available guidance, the Company’s income tax expense for the six months ended June 30, 2024 and 2023 was not impacted by the CAMT. The Company’s excise tax during the six months ended June 30, 2024 was immaterial and was recognized as part of the cost basis of the stock repurchased. The Company’s provision for income taxes attributable to income before income taxes consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Current income tax expense: Federal $ (110 ) $ — $ 276 $ — State 78 — 301 — Total current income tax expense (32 ) — 577 — Deferred income tax expense: Federal 13,848 9,121 15,313 23,041 State 434 523 657 1,110 Deferred income tax expense 14,282 9,644 15,970 24,151 Total income tax expense $ 14,250 $ 9,644 $ 16,547 $ 24,151 The reconciliation between the provision for income taxes computed by multiplying pre-tax income by the U.S. federal statutory rate and the reported amounts of provision for income taxes is as follows (in thousands, except rate): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Income tax expense at U.S. federal statutory rate $ 9,233 $ 8,709 $ 11,067 $ 22,309 Limited tax benefit due to stock-based compensation 4,059 451 4,436 740 State deferred income taxes 496 523 895 1,110 Other, net 462 (39 ) 149 (8 ) Income tax expense $ 14,250 $ 9,644 $ 16,547 $ 24,151 Effective income tax rate 32.4 % 23.3 % 31.4 % 22.7 % The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities were as follows as of June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Deferred tax assets: Interest expense limitations $ 57,010 $ 41,352 Net operating loss carryforwards 12,399 13,503 Stock-based compensation 3,270 6,332 Unrecognized derivative losses, net 2,347 — Other 34 36 Less: Valuation allowance — — Deferred tax assets 75,060 61,223 Deferred tax liabilities: Crude oil and natural gas properties, principally due to differences in basis and depreciation and the deduction of intangible drilling costs for tax purposes (287,950 ) (250,859 ) Other (148 ) — Unrecognized derivative gains, net — (7,432 ) Deferred tax liabilities (288,098 ) (258,291 ) Net deferred tax liabilities $ (213,038 ) $ (197,068 ) The effective income tax rate differs from the U.S. statutory rate of 21 percent primarily due to deferred state income taxes and other permanent differences between GAAP income and taxable income. As required by ASC Topic 740, “Income Taxes,” (“ASC 740”) the Company uses reasonable judgments and makes estimates and assumptions related to evaluating the probability of uncertain tax positions. The Company bases its estimates and assumptions on the potential liability related to an assessment of whether the income tax position will “more likely than not” be sustained in an income tax audit. Based on that analysis, the Company believes the Company has not taken any material uncertain tax positions, and therefore has not recorded an income tax liability related to uncertain tax positions. However, if actual results materially differ, the Company’s effective income tax rate and cash flows could be affected in the period of discovery or resolution. The Company also reviews the estimates and assumptions used in evaluating the probability of realizing the future benefits of the Company’s deferred tax assets and records a valuation allowance when the Company believes that a portion or all the deferred tax assets may not be realized. If the Company is unable to realize the expected future benefits of its deferred tax assets, the Company is required to provide a valuation allowance. The Company uses its history and experience, overall profitability, future management plans, tax planning strategies, and current economic information to evaluate the amount of valuation allowance to record. As of June 30, 2024 and December 31, 2023, the Company had not The Company is also subject to Texas margin tax. The Company realized $301,000 and zero

Note 14 - Earnings Per Share

Note 14 - Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 14. Earnings Per Share The Company uses the two-class method of calculating earnings per share because certain of the Company’s stock-based awards qualify as participating securities. The Company’s basic earnings per share attributable to common stockholders is computed as (i) net income as reported, (ii) less participating basic earnings (iii) divided by weighted average basic common shares outstanding. The Company’s diluted earnings per share attributable to common stockholders is computed as (i) basic earnings attributable to common stockholders, (ii) plus reallocation of participating earnings (iii) divided by weighted average diluted common shares outstanding. The following table reconciles the Company’s earnings from operations and earnings attributable to common stockholders to the basic and diluted earnings used to determine the Company’s earnings per share amounts for the three and six months ended June 30, 2024 and 2023 under the two-class method (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income as reported $ 29,717 $ 31,826 $ 36,155 $ 82,083 Participating basic earnings (a) (2,860 ) (2,942 ) (3,466 ) (7,590 ) Basic earnings attributable to common stockholders 26,857 28,884 32,689 74,493 Reallocation of participating earnings 36 46 37 123 Diluted net income attributable to common stockholders $ 26,893 $ 28,930 $ 32,726 $ 74,616 Basic weighted average shares outstanding 125,341 111,227 125,341 111,227 Dilutive warrants and unvested stock options 1,753 2,592 1,770 3,741 Dilutive unvested restricted stock 2,154 2,159 2,154 2,159 Diluted weighted average shares outstanding 129,248 115,978 129,265 117,127 (a) Vested stock options represent participating securities because they participate in dividend equivalents with the common equity holders of the Company. Participating earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Certain unvested restricted stock awarded to outside directors, employee members of the Board and certain employees do not represent participating securities because, while they participate in dividends with the common equity holders of the Company, the dividends associated with such unvested restricted stock are forfeitable in connection with the forfeitability of the underlying restricted stock. Unvested stock options do not represent participating securities because, while they participate in dividend equivalents with the common equity holders of the Company, the dividend equivalents associated with unvested stock options are forfeitable in connection with the forfeitability of the underlying stock options. The calculation for weighted average shares reflects shares outstanding over the reporting period based on the actual number of days the shares were outstanding.

Note 15 - Stockholders' Equity

Note 15 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 15. Stockholders Equity Stock Repurchase Program. zero Issuance of Common Stock. zero Dividends and Dividend Equivalents In February 2024, the Board declared a quarterly dividend of $0.04 per share of common stock outstanding which resulted in a total of $5.1 million in dividends being paid in March 2024. In addition, under the terms of the LTIP, the Company paid a dividend equivalent per share to all vested stock option holders of $536,000 in March 2024 and accrued a dividend equivalent per share to all unvested stock option holders which will be payable upon vesting, assuming no forfeitures. In addition, the Company accrued an additional combined $86,000 in dividends on the restricted stock issued to directors, management directors and certain employees that will be payable upon vesting. In April 2023, the Board declared a quarterly dividend of $0.025 per share of common stock outstanding which resulted in a total of $2.8 million in dividends being paid in May 2023. In addition, under the terms of the LTIP, the Company paid a dividend equivalent per share to all vested stock option holders of $282,000 in May 2023 and accrued a dividend equivalent per share to all unvested stock option holders which will be payable upon vesting, assuming no forfeitures. In addition, the Company accrued an additional combined $53,000 in dividends on the restricted stock issued to directors, management directors and certain employees that will be payable upon vesting. In January 2023, the Board declared a quarterly dividend of $0.025 per share of common stock outstanding which resulted in a total of $2.8 million in dividends being paid in February 2023. In addition, under the terms of the LTIP, the Company paid a dividend equivalent per share to all vested stock option holders of $283,000 in February 2023 and accrued a dividend equivalent per share to all unvested stock option holders which will be payable upon vesting, assuming no forfeitures. In addition, the Company accrued an additional combined $53,000 in dividends on the restricted stock issued to directors, management directors and certain employees that will be payable upon vesting. Outstanding securities.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 16. Subsequent Events Dividends and dividend equivalents.

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5. OTHER INFORMATION During the three months ended June 30, 2024, no
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Presentation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the SEC. These unaudited interim condensed consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Consolidation, Policy [Policy Text Block]	Principles of consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of estimates in the preparation of financial statements.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents.
Accounts Receivable [Policy Text Block]	Accounts receivable. Accounts receivable are stated at amounts due from purchasers or joint interest owners, net of an allowance for expected losses as estimated by the Company when collection is doubtful. For receivables from joint interest owners, the Company typically has the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. Accounts receivable from purchasers or joint interest owners outstanding longer than the contractual payment terms are considered past due. The Company determines its allowance for each type of receivable by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the debtor’s current ability to pay its obligation to the Company, the condition of the general economy and the industry as a whole. The Company writes off specific accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for expected losses. As of June 30, 2024 and December 31, 2023, the Company had no
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of credit risk.
Inventory, Policy [Policy Text Block]	Inventory.
Prepaid Expense [Policy Text Block]	Prepaid expenses.
Oil and Gas [Policy Text Block]	Crude oil and natural gas properties. The Company does not carry the costs of drilling an exploratory well as an asset in its condensed consolidated balance sheet following the completion of drilling unless both of the following conditions are met: (i) the well has found a sufficient quantity of reserves to justify its completion as a producing well and (ii) the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project. Due to the capital-intensive nature and the geographical location of certain projects, it may take an extended period of time to evaluate the future potential of an exploration project and the economics associated with making a determination on its commercial viability. In these instances, the project’s feasibility is not contingent upon price improvements or advances in technology, but rather the Company’s ongoing efforts and expenditures related to accurately predict the hydrocarbon recoverability based on well information, gaining access to other companies’ production data in the area, transportation or processing facilities and/or getting partner approval to drill additional appraisal wells. These activities are ongoing and are being pursued constantly. Consequently, the Company’s assessment of suspended exploratory well costs is continuous until a decision can be made that the project has found sufficient proved reserves to sanction the project or is noncommercial and is charged to exploration and abandonment expense. See Note 6 for additional information. The capitalized costs of proved properties are depleted using the unit-of-production method based on proved reserves for leasehold costs and proved developed reserves for drilling, completion and other crude oil and natural gas property costs. Unproved leasehold costs are excluded from depletion until proved reserves are established or, if unsuccessful, impairment is determined. Proceeds from the sales of individual properties are credited to proved or unproved crude oil and natural gas properties, as the case may be, if doing so does not materially impact the depletion rate of an amortization base. Generally, no gain or loss is recorded until an entire amortization base is sold. However, gain or loss is recorded from the sale of less than an entire amortization base if the disposition is significant enough to materially impact the depletion rate of the remaining properties in the amortization base. The Company performs assessments of its long-lived assets to be held and used, including proved crude oil and natural gas properties accounted for under the successful efforts method of accounting, whenever events or circumstances indicate that the carrying value of those assets may not be recoverable. If there is an indication the carrying value of the assets may not be recovered, an impairment loss is recognized if the sum of the expected future cash flows is less than the carrying amount of the assets. In these circumstances, the Company recognizes an impairment charge for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Unproved crude oil and natural gas properties are periodically assessed for impairment on a project-by-project basis. These impairment assessments are affected by the estimates of future recoverable reserves, results of exploration activities, commodity price outlooks, planned future sales or expirations of all or a portion of such projects. If the estimated future net cash flows attributable to such projects are not expected to be sufficient to fully recover the costs invested in each project, the Company will recognize an impairment charge at that time.
Property, Plant and Equipment, Policy [Policy Text Block]	Other property and equipment, net. June 30, 2024 December 31, 2023 Land $ 2,091 $ 2,139 Transportation equipment 700 689 Buildings 523 530 Leasehold improvements 201 209 Field equipment 3 4 Furniture and fixtures — 1 Total other property and equipment, net $ 3,518 $ 3,572 Other property and equipment are depreciated over their estimated useful life on a straight-line basis. Land is not depreciated. Transportation equipment is generally depreciated over five forty seven five The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such assets are considered to be impaired, the impairment to be recorded is measured by the amount by which the carrying amount of the asset exceeds its estimated fair value. The estimated fair value is determined using either a discounted future cash flow model or another appropriate fair value method.
Other Non-current Assets, Aid-in-Construction Assets, Policy [Policy Text Block]	Aid-in-construction assets.
Lessee, Leases [Policy Text Block]	Leases.
Accounts Payable and Accrued Liabilities, Policy [Policy Text Block]	Current liabilities.
Debt, Policy [Policy Text Block]	Debt issuance costs and original issue discount.
Asset Retirement Obligation [Policy Text Block]	Asset retirement obligations.
Revenue from Contract with Customer [Policy Text Block]	Revenue recognition . The Company enters into contracts with purchasers to sell its crude oil, NGL and natural gas production. Revenue on these contracts is recognized in accordance with the five-step revenue recognition model prescribed in ASC 606. Specifically, revenue is recognized when the Company’s performance obligations under these contracts are satisfied, which generally occurs with the transfer of control of the crude oil and natural gas to the purchaser. Control is generally considered transferred when the following criteria are met: (i) transfer of physical custody, (ii) transfer of title, (iii) transfer of risk of loss and (iv) relinquishment of any repurchase rights or other similar rights. Given the nature of the products sold, revenue is recognized at a point in time based on the amount of consideration the Company expects to receive in accordance with the price specified in the contract. Consideration under the crude oil and natural gas marketing contracts is typically received from the purchaser one two Crude Oil Contracts. Natural Gas Contracts. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. The exemption, as described in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required.
Derivatives, Policy [Policy Text Block]	Derivatives. The Company’s credit risk related to derivatives is a counterparties’ failure to perform under derivative contracts owed to the Company. The Company uses credit and other financial criteria to evaluate the credit standing of, and to select, counterparties to its derivative instruments. Although the Company does not obtain collateral or otherwise secure the fair value of its derivative instruments, associated credit risk is mitigated by the Company’s credit risk policies and procedures. The Company has entered into International Swap Dealers Association Master Agreements (“ISDA Agreements”) with each of its derivative counterparties. The terms of the ISDA Agreements provide the Company and the counterparties with rights of set off upon the occurrence of defined acts of default by either the Company or a counterparty to a derivative, whereby the party not in default may set off all derivative liabilities owed to the defaulting party against all derivative asset receivables from the defaulting party. See Note 5 for additional information.
Income Tax, Policy [Policy Text Block]	Income taxes. The Company reviews its deferred tax assets for recoverability and establishes a valuation allowance based on projected future taxable income, applicable tax strategies and the expected timing of the reversals of existing temporary differences. A valuation allowance is provided when it is more likely than not (likelihood of greater than 50 percent) that some portion or all the deferred tax assets will not be realized. The Company has not established a valuation allowance as of June 30, 2024 or December 31, 2023. Tax benefits from an uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based upon the technical merits of the position. If all or a portion of the unrecognized tax benefit is sustained upon examination by the taxing authorities, the tax benefit will be recognized as a reduction to the Company’s deferred tax liability and will affect the Company’s effective tax rate in the period it is recognized. See Note 13 for additional information. Tax-related interest charges are recorded as interest expense and any tax-related penalties as other expense in the condensed consolidated statements of operations of which there have been none to date. The Company is also subject to Texas Margin Tax. The Company realized $301,000 and zero
Share-Based Payment Arrangement [Policy Text Block]	Stock-based compensation. Stock-based compensation for restricted stock awarded to outside directors, employee members of the Board and certain other employees is measured at the grant date using the fair value of the award and is recognized on a straight-line basis over the requisite service period of the respective award.
Segment Reporting, Policy [Policy Text Block]	Segments. one
New Accounting Pronouncements, Policy [Policy Text Block]	Recently adopted accounting pronouncements. New accounting pronouncements not yet adopted. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. The amendments in this ASU are effective for public entities for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of this standard on its disclosures. In March 2024, the SEC adopted new climate rules that require a wide range of climate-related disclosures, including material climate-related risks, information on climate-related targets or goals that are material to the registrant’s business, results of operations or financial condition, Scope 1 and Scope 2 greenhouse gas emissions on a phased-in basis by large accelerated filers and accelerated filers when those emissions are material and the filing of an attestation report covering the same, and disclosure of the financial statement effects of severe weather events and other natural conditions including costs and losses. Compliance dates under the final rule are phased in by registrant category. Multiple lawsuits have been filed challenging the SEC’s new climate rules, which have been consolidated and will be heard in the U.S. Court of Appeals for the Eighth Circuit. In April 2024, the SEC issued an order staying the final rules until judicial review is complete. The Company is currently evaluating the impact of the final rules on its disclosures. The Company considers the applicability and the impact of all ASUs. ASUs were assessed and determined to be either not applicable, the effects of adoption are not expected to be material or are clarifications of ASUs previously disclosed.

Note 2 - Basis of Presentatio_2

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, 2024 December 31, 2023 Land $ 2,091 $ 2,139 Transportation equipment 700 689 Buildings 523 530 Leasehold improvements 201 209 Field equipment 3 4 Furniture and fixtures — 1 Total other property and equipment, net $ 3,518 $ 3,572

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	As of June 30, 2024 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Commodity price derivatives – current $ — $ 2,278 $ — $ 2,278 Commodity price derivatives – noncurrent — 227 — 227 Total assets — 2,505 — 2,505 Liabilities: Commodity price derivatives – current — 12,599 — 12,599 Commodity price derivatives – noncurrent — 775 — 775 Total liabilities — 13,374 — 13,374 Total recurring fair value measurements, net $ — $ (10,869 ) $ — $ (10,869 ) As of December 31, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Commodity price derivatives – current $ — $ 31,480 $ — $ 31,480 Commodity price derivatives – noncurrent — 16,059 — 16,059 Total assets — 47,539 — 47,539 Liabilities: Commodity price derivatives – current — 13,054 — 13,054 Commodity price derivatives – noncurrent — 65 — 65 Total liabilities — 13,119 — 13,119 Total recurring fair value measurements, net $ — $ 34,420 $ — $ 34,420

Note 5 - Derivative Financial_2

Note 5 - Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Derivative Instruments, Gain (Loss) [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Noncash derivative gain (loss), net $ 2,606 $ 703 $ (45,289 ) $ 6,017 Cash payments on settled derivatives, net (5,308 ) (5,066 ) (10,456 ) (7,260 ) Derivative loss, net $ (2,702 ) $ (4,363 ) $ (55,745 ) $ (1,243 )
Schedule of Price Risk Derivatives [Table Text Block]	Swaps Enhanced Collars & Deferred Premium Puts Settlement Month Year Type of Contract Bbls Per Day Index Price per Bbl Floor or Strike Price per Bbl Ceiling Price per Bbl Deferred Premium Payable per Bbl Crude Oil: Jul – Sep 2024 Swap 4,000 WTI Cushing $ 84.00 $ — $ — $ — Jul – Sep 2024 Basis Swap 25,000 Argus WTI Midland $ 1.12 $ — $ — $ — Jul – Sep 2024 Collar 1,500 WTI Cushing $ — $ 69.00 $ 95.00 $ 0.85 Jul – Sep 2024 Put 14,000 WTI Cushing $ — $ 60.41 $ — $ 5.00 Oct – Dec 2024 Swap 5,500 WTI Cushing $ 76.37 $ — $ — $ — Oct – Dec 2024 Basis Swap 25,000 Argus WTI Midland $ 1.12 $ — $ — $ — Oct – Dec 2024 Collar 10,600 WTI Cushing $ — $ 65.68 $ 90.32 $ 1.85 Oct – Dec 2024 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 Jan – Mar 2025 Swap 5,500 WTI Cushing $ 76.37 $ — $ — $ — Jan – Mar 2025 Collar 8,000 WTI Cushing $ — $ 65.00 $ 90.00 $ 2.12 Jan – Mar 2025 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 Apr – Jun 2025 Swap 5,500 WTI Cushing $ 76.37 $ — $ — $ — Apr – Jun 2025 Collar 7,000 WTI Cushing $ — $ 65.00 $ 90.08 $ 2.28 Apr – Jun 2025 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00 Jul – Sep 2025 Swap 3,000 WTI Cushing $ 75.85 $ — $ — $ — Jul – Sep 2025 Collar 7,000 WTI Cushing $ — $ 65.00 $ 90.08 $ 2.28 Jul – Sep 2025 Put 2,000 WTI Cushing $ — $ 58.00 $ — $ 5.00
Schedule of Derivative Assets and Liabilities By Counterparty [Table Text Block]	As of June 30, 2024 Macquarie Bank Limited $ (7,251 ) Mercuria Energy Trading SA (1,950 ) Wells Fargo Bank, National Association (1,858 ) Fifth Third Bank, National Association 190 $ (10,869 )

Note 6 - Exploratory_Extensio_2

Note 6 - Exploratory/Extension Well Costs (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Oil and Gas, Capitalized Exploratory Well Cost, Roll Forward [Table Text Block]	Six Months Ended June 30, 2024 Beginning capitalized exploratory/extension well costs $ 40,888 Additions to exploratory/extension well costs 61,832 Reclassification to proved properties (67,944 ) Exploratory/extension well costs charged to exploration and abandonment expense (229 ) Ending capitalized exploratory/extension well costs $ 34,547

Note 7 - Long-term Debt (Tables

Note 7 - Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	June 30, 2024 December 31, 2023 Term Loan Credit Agreement due 2026 $ 1,140,000 $ 1,200,000 Senior Credit Facility Agreement due 2026 — — Discounts, net (a) (22,156 ) (27,062 ) Debt issuance costs, net (b) (18,578 ) (22,639 ) Total debt 1,099,266 1,150,299 Less current maturities of long-term debt (120,000 ) (120,000 ) Long-term debt, net $ 979,266 $ 1,030,299

Note 8 - Asset Retirement Obl_2

Note 8 - Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Change in Asset Retirement Obligation [Table Text Block]	Six Months Ended June 30, 2024 Beginning asset retirement obligations $ 13,245 Liabilities incurred from new wells 296 Dispositions (111 ) Accretion of discount 481 Ending asset retirement obligations $ 13,911

Note 9 - Incentive Plans (Table

Note 9 - Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Shares Available Under Long-term Incentive Plan [Table Text Block]	June 30, 2024 December 31, 2023 Approved and authorized shares 16,414,015 16,414,015 Shares subject to awards issued under plan (15,808,671 ) (15,759,791 ) Shares available for future grant 605,344 654,224
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Stock Options Average Exercise Price Remaining Term in Years Intrinsic Value (in thousands) Outstanding at December 31, 2022 11,517,228 $ 12.20 7.9 $ 128,429 Awards granted 1,949,000 10.50 Exercised (11,834 ) $ 12.52 Forfeitures (5,333 ) $ 24.83 Outstanding at December 31, 2023 13,449,061 $ 11.95 6.3 $ 47,672 Forfeitures (4,999 ) $ 26.44 Outstanding at June 30, 2024 13,444,062 $ 11.95 5.8 $ 160,592 Vested at December 31, 2023 13,387,074 $ 11.88 6.3 $ 47,672 Exercisable at December 31, 2023 11,438,074 $ 12.12 6.9 $ 40,383 Vested at June 30, 2024 13,428,404 $ 11.94 5.8 $ 160,279 Exercisable at June 30, 2024 11,479,404 $ 12.18 6.4 $ 139,815

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	June 30, 2024 Remainder of 2024 $ 363 2025 261 Total 624 Less present value discount (37 ) Present value of lease liabilities $ 587

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Current income tax expense: Federal $ (110 ) $ — $ 276 $ — State 78 — 301 — Total current income tax expense (32 ) — 577 — Deferred income tax expense: Federal 13,848 9,121 15,313 23,041 State 434 523 657 1,110 Deferred income tax expense 14,282 9,644 15,970 24,151 Total income tax expense $ 14,250 $ 9,644 $ 16,547 $ 24,151
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Income tax expense at U.S. federal statutory rate $ 9,233 $ 8,709 $ 11,067 $ 22,309 Limited tax benefit due to stock-based compensation 4,059 451 4,436 740 State deferred income taxes 496 523 895 1,110 Other, net 462 (39 ) 149 (8 ) Income tax expense $ 14,250 $ 9,644 $ 16,547 $ 24,151 Effective income tax rate 32.4 % 23.3 % 31.4 % 22.7 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	June 30, 2024 December 31, 2023 Deferred tax assets: Interest expense limitations $ 57,010 $ 41,352 Net operating loss carryforwards 12,399 13,503 Stock-based compensation 3,270 6,332 Unrecognized derivative losses, net 2,347 — Other 34 36 Less: Valuation allowance — — Deferred tax assets 75,060 61,223 Deferred tax liabilities: Crude oil and natural gas properties, principally due to differences in basis and depreciation and the deduction of intangible drilling costs for tax purposes (287,950 ) (250,859 ) Other (148 ) — Unrecognized derivative gains, net — (7,432 ) Deferred tax liabilities (288,098 ) (258,291 ) Net deferred tax liabilities $ (213,038 ) $ (197,068 )

Note 14 - Earnings Per Share (T

Note 14 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income as reported $ 29,717 $ 31,826 $ 36,155 $ 82,083 Participating basic earnings (a) (2,860 ) (2,942 ) (3,466 ) (7,590 ) Basic earnings attributable to common stockholders 26,857 28,884 32,689 74,493 Reallocation of participating earnings 36 46 37 123 Diluted net income attributable to common stockholders $ 26,893 $ 28,930 $ 32,726 $ 74,616 Basic weighted average shares outstanding 125,341 111,227 125,341 111,227 Dilutive warrants and unvested stock options 1,753 2,592 1,770 3,741 Dilutive unvested restricted stock 2,154 2,159 2,154 2,159 Diluted weighted average shares outstanding 129,248 115,978 129,265 117,127

Note 2 - Basis of Presentatio_3

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual)		1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
		Nov. 30, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Sep. 14, 2023 USD ($)	Dec. 31, 2022	Nov. 20, 2022
Accounts Receivable, after Allowance for Credit Loss, Current				$ 87,561,000		$ 87,561,000		$ 94,589,000
Oil and Gas, Joint Interest Billing, Receivable				7,300,000		7,300,000		4,400,000
Income Taxes Receivable				2,900,000		2,900,000		3,200,000
Accounts Receivable, Allowance for Credit Loss				0		0		0
Inventory, Raw Materials and Supplies, Gross				7,800,000		7,800,000		7,300,000
Prepaid Expense				3,100,000		3,100,000		1,000,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment				995,000,000,000		995,000,000,000		904,000,000,000
Accounts Payable and Accrued Liabilities, Current				278,900,000		278,900,000		287,400,000
Payments of Debt Issuance Costs						58,000	$ 1,399,000
Amortization of Debt Issuance Costs						4,119,000	5,704,000
Debt Instrument, Unamortized Discount	[1]			22,156,000		22,156,000		27,062,000
Amortization of Debt Discount (Premium)						4,906,000	8,627,000
Income Tax Expense (Benefit)				14,250,000	$ 9,644,000	$ 16,547,000	24,151,000
Number of Operating Segments						1
Texas Margin Tax [Member]
Income Tax Expense (Benefit)						$ 301,000	0
Minimum [Member]
Oil and Natural Gas Marketing Contracts, Term Over Which Consideration is Received from Purchaser						1 month
Maximum [Member]
Oil and Natural Gas Marketing Contracts, Term Over Which Consideration is Received from Purchaser						2 months
Revolving Credit Facility [Member] | Fifth Third Bank, National Association [Member]
Debt Issuance Costs, Gross								3,300,000
Senior Unsecured Notes and Revolving Credit Facility [Member]
Debt Issuance Costs, Gross				$ 25,100,000		$ 25,100,000
Payments of Debt Issuance Costs						58,000,000,000		$ 25,000,000
Amortization of Debt Issuance Costs						$ 4,100,000	5,700,000
Senior Unsecured Notes Due 2024 [Member]
Debt Issuance Costs, Gross			$ 1,500,000
Payments of Debt Issuance Costs			$ 22,100,000
Debt Instrument, Interest Rate, Stated Percentage			10%	10%		10%
Debt Instrument, Unamortized Discount			$ 3,200,000	$ 64,800,000		$ 64,800,000
Amortization of Debt Discount (Premium)						$ 4,900,000	$ 8,600,000
The 10.625% Senior Notes [Member]
Debt Issuance Costs, Gross									$ 3,700,000
Payments of Debt Issuance Costs		$ 26,300,000
Debt Instrument, Interest Rate, Stated Percentage				10.625%		10.625%				10.625%	10.625%
Debt Instrument, Unamortized Discount									$ 11,700,000
Transportation Equipment [Member]
Property, Plant and Equipment, Useful Life				5 years		5 years
Building [Member]
Property, Plant and Equipment, Useful Life				40 years		40 years
Field Equipment [Member]
Property, Plant and Equipment, Useful Life				7 years		7 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life				5 years		5 years
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Largest Purchaser [Member]
Concentration Risk, Percentage						75%		82%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Second Largest Purchaser [Member]
Concentration Risk, Percentage						19%		14%
Settlements of Derivative Contracts [Member]
Accounts Receivable, after Allowance for Credit Loss, Current				$ 674,000		$ 674,000		$ 4,500,000
Aid-in-construction Receivables [Member] | WTG Gas Processing, L.P. [Member]
Accounts Receivable, after Allowance for Credit Loss				6,000,000		6,000,000		5,200,000
Crude Oil, Natural Gas and Natural Gas Liquids [Member]
Accounts Receivable, after Allowance for Credit Loss, Current				$ 76,700,000		$ 76,700,000		$ 82,500,000
[1]Discounts as of June 30, 2024 and December 31, 2023 consisted of $30.0 million in discounts less accumulated amortization of $7.8 million and $2.9 million, respectively.

Note 2 - Basis of Presentatio_4

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies - Summary of Other Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other property and equipment, net	$ 3,518	$ 3,572
Land [Member]
Other property and equipment, net	2,091	2,139
Transportation Equipment [Member]
Other property and equipment, net	700	689
Building [Member]
Other property and equipment, net	523	530
Leasehold Improvements [Member]
Other property and equipment, net	201	209
Field Equipment [Member]
Other property and equipment, net	3	4
Furniture and Fixtures [Member]
Other property and equipment, net	$ 0	$ 1

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Payments to Acquire Oil and Gas Property and Equipment	$ 7.4	$ 7.8

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements - Assets and Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Commodity price derivatives – current	$ 2,278	$ 31,480
Commodity price derivatives – noncurrent	227	16,059
Commodity price derivatives – current	12,599	13,054
Commodity price derivatives – noncurrent	775	65
Commodity Contract [Member]
Total recurring fair value measurements, net	10,869
Commodity Contract [Member] | Fair Value, Recurring [Member]
Commodity price derivatives – current	2,278	31,480
Commodity price derivatives – noncurrent	227	16,059
Total assets	2,505	47,539
Commodity price derivatives – current	12,599	13,054
Commodity price derivatives – noncurrent	775	65
Total liabilities	13,374	13,119
Total recurring fair value measurements, net	(10,869)	34,420
Commodity Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Commodity price derivatives – current	0	0
Commodity price derivatives – noncurrent	0	0
Total assets	0	0
Commodity price derivatives – current	0	0
Commodity price derivatives – noncurrent	0	0
Total liabilities	0	0
Total recurring fair value measurements, net	0	0
Commodity Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Commodity price derivatives – current	2,278	31,480
Commodity price derivatives – noncurrent	227	16,059
Total assets	2,505	47,539
Commodity price derivatives – current	12,599	13,054
Commodity price derivatives – noncurrent	775	65
Total liabilities	13,374	13,119
Total recurring fair value measurements, net	(10,869)	34,420
Commodity Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Commodity price derivatives – current	0	0
Commodity price derivatives – noncurrent	0	0
Total assets	0	0
Commodity price derivatives – current	0	0
Commodity price derivatives – noncurrent	0	0
Total liabilities	0	0
Total recurring fair value measurements, net	$ 0	$ 0

Note 5 - Derivative Financial_3

Note 5 - Derivative Financial Instruments - Summary of the Effect of Derivatives on the Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Noncash derivative gain (loss), net	$ 2,606	$ 703	$ (45,289)	$ 6,017
Cash paid on settlement of derivative instruments	(5,308)	(5,066)	(10,456)	(7,260)
Derivative loss, net	$ (2,702)	$ (4,363)	$ (55,745)	$ (1,243)

Note 5 - Derivative Financial_4

Note 5 - Derivative Financial Instruments - Price Risk Derivative Contracts (Details) - Not Designated as Hedging Instrument [Member] - Forecast [Member]	3 Months Ended
	Sep. 30, 2025 $ / bbl MMBbls	Jun. 30, 2025 $ / bbl MMBbls	Mar. 31, 2025 $ / bbl MMBbls	Dec. 31, 2024 $ / bbl MMBbls	Sep. 30, 2024 $ / bbl MMBbls
Crude Oil Derivative Swap [Member]
Bbls per Day (Million Barrels of Oil) | MMBbls	3,000	5,500	5,500	5,500	4,000
Price per Bbl (in USD per Barrel of Oil)	75.85	76.37	76.37	76.37	84
Floor or Strike Price per Bbl (in USD per Barrel of Oil)			0	0	0
Ceiling Price per Bbl (in USD per Barrel of Oil)			0	0	0
Deferred Premium Payable per Bbl (in USD per Barrel of Oil)			0	0	0
Crude Oil Derivative Fixed Price Basis Swap [Member]
Bbls per Day (Million Barrels of Oil) | MMBbls				25,000	25,000
Price per Bbl (in USD per Barrel of Oil)				1.12	1.12
Floor or Strike Price per Bbl (in USD per Barrel of Oil)				0	0
Ceiling Price per Bbl (in USD per Barrel of Oil)				0	0
Deferred Premium Payable per Bbl (in USD per Barrel of Oil)				0	0
Crude Oil Derivative Collar [Member]
Bbls per Day (Million Barrels of Oil) | MMBbls	7,000	7,000	8,000	10,600	1,500
Price per Bbl (in USD per Barrel of Oil)				0	0
Floor or Strike Price per Bbl (in USD per Barrel of Oil)	65	65	65	65.68	69
Ceiling Price per Bbl (in USD per Barrel of Oil)	90.08	90.08	90	90.32	95
Deferred Premium Payable per Bbl (in USD per Barrel of Oil)	2.28	2.28	2.12	1.85	0.85
Crude Oil Derivative Put [Member]
Bbls per Day (Million Barrels of Oil) | MMBbls	2,000	2,000	2,000	2,000	14,000
Price per Bbl (in USD per Barrel of Oil)				0	0
Floor or Strike Price per Bbl (in USD per Barrel of Oil)	58	58	58	58	60.41
Ceiling Price per Bbl (in USD per Barrel of Oil)				0	0
Deferred Premium Payable per Bbl (in USD per Barrel of Oil)	5	5	5	5	5

Note 5 - Derivative Financial_5

Note 5 - Derivative Financial Instruments - Net Derivative Liabilities By Counterparty (Details) - Commodity Contract [Member] $ in Thousands	Jun. 30, 2024 USD ($)
Derivative asset (liabilities)	$ (10,869)
Macquarie Bank Limited [Member]
Derivative liabilities	(7,251)
Mercuria Energy Trading SA [Member]
Derivative liabilities	(1,950)
Wells Fargo Bank, National Association [Member]
Derivative liabilities	(1,858)
Fifth Third Bank, National Association [Member]
Derivative asset	$ 190

Note 6 - Exploratory_Extensio_3

Note 6 - Exploratory/Extension Well Costs (Details Textual)	6 Months Ended
	Jun. 30, 2024
Capitalized Exploratory Well Costs, Maximum Term (Year)	1 year

Note 6 - Exploratory_Extensio_4

Note 6 - Exploratory/Extension Well Costs - Exploratory Well Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Beginning capitalized exploratory/extension well costs	$ 40,888
Additions to exploratory/extension well costs	61,832
Reclassification to proved properties	(67,944)
Exploratory/extension well costs charged to exploration and abandonment expense	(229)
Ending capitalized exploratory/extension well costs	$ 34,547

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) $ in Thousands					1 Months Ended						6 Months Ended
		Nov. 01, 2023 USD ($)	Sep. 14, 2023 USD ($)	Sep. 12, 2023 USD ($)	Jul. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Nov. 30, 2022 USD ($)	Nov. 20, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument, Unamortized Discount	[1]										$ 22,156		$ 27,062
Payments of Debt Issuance Costs											58	$ 1,399
Term Loan Credit Agreement [Member]
Debt Instrument, Unamortized Discount				$ 30,000										$ 2,700
Debt Issuance Costs, Gross				$ 24,000
Debt Instrument Discount Percentage				0.025
Debt Instrument, Optional Prepayment, Percentage of Principal				0.01
Debt Instrument, Covenant, Minimum Current Ratio				0.00015
Debt Instrument, Covenant, Maximum Total Debt to EBITDAX Ratio				0.0002
Debt Instrument, Covenant, Priority Facility Limit				$ 100,000
Debt Instrument, Periodic Payment				$ 30,000
Repayments of Senior Debt											60,000	$ 0
Term Loan Credit Agreement [Member] | Adjusted SOFR [Member]
Debt Instrument, Basis Spread on Variable Rate				0.075%
Term Loan Credit Agreement [Member] | Adjusted Above Margin [Member]
Debt Instrument, Basis Spread on Variable Rate				0.02%
Senior Credit Facility Agreement Due 2026 [Member]
Debt Issuance Costs, Gross		$ 1,100
Line of Credit Facility, Current Borrowing Capacity		$ 100,000
Senior Credit Facility Agreement Due 2026 [Member] | Adjusted Above Margin [Member]
Debt Instrument, Basis Spread on Variable Rate		2%
Senior Unsecured Notes Due 2024 [Member]
Debt Instrument, Unamortized Discount										$ 3,200	$ 64,800
Debt Issuance Costs, Gross										1,500
Debt Instrument, Face Amount										$ 225,000
Debt Instrument, Interest Rate, Stated Percentage										10%	10%
Proceeds from Issuance of Debt										$ 202,900
Payments of Debt Issuance Costs										22,100
The 10.625% Senior Notes [Member]
Debt Instrument, Unamortized Discount			$ 11,700
Debt Issuance Costs, Gross			3,700
Debt Instrument, Face Amount								$ 225,000							$ 25,000
Debt Instrument, Interest Rate, Stated Percentage									10.625%		10.625%				10.625%
Proceeds from Issuance of Debt									$ 223,700
Payments of Debt Issuance Costs								$ 26,300
Interest Paid, Including Capitalized Interest, Operating and Investing Activities						$ 8,300
Redemption Premium			$ 4,500
Maximum [Member] | Senior Credit Facility Agreement Due 2026 [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		5%
Maximum [Member] | Senior Credit Facility Agreement Due 2026 [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		4%
Minimum [Member] | Senior Credit Facility Agreement Due 2026 [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		4%
Minimum [Member] | Senior Credit Facility Agreement Due 2026 [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		3%
Revolving Credit Facility [Member]
Long-Term Debt, Gross											$ 1,140,000		1,200,000
Revolving Credit Facility [Member] | Fifth Third Bank, National Association [Member]
Debt Issuance Costs, Gross													3,300
Line of Credit Facility, Maximum Borrowing Capacity							$ 700,000
Line of Credit Facility, Commitment Fee Amount							$ 575,000
Debt Instrument, Covenant, Minimum Availability Percentage for Dividend and Distributions						25%						25%
Debt Instrument, Covenant, Dividends and Distributions Limit						$ 4,000						$ 4,000
Debt Instrument, Restriction on Borrowings, Minimum Net Proceeds From Equity Securities					$ 95,000
Long-Term Debt, Gross										$ 0
Revolving Credit Facility [Member] | Term Loan Credit Agreement [Member]
Debt Instrument, Covenant, Minimum Cash Threshold for Prepayment to be Due				$ 20,000
Revolving Credit Facility [Member] | Maximum [Member] | Term Loan Credit Agreement [Member]
Debt Instrument, Face Amount				$ 1,200,000
Other Noncurrent Assets [Member]
Debt Instrument, Unamortized Discount											30,000		30,000
Accumulated Amortization, Debt Discount											7,800		2,900
Debt Issuance Costs, Gross											25,100		25,000
Accumulated Amortization, Debt Issuance Costs											$ 6,500		$ 2,400
[1]Discounts as of June 30, 2024 and December 31, 2023 consisted of $30.0 million in discounts less accumulated amortization of $7.8 million and $2.9 million, respectively.

Note 7 - Long-term Debt - Long-

Note 7 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Discounts, net (a)	[1]	$ (22,156)	$ (27,062)
Debt issuance costs, net (b)	[2]	(18,578)	(22,639)
Total debt		1,099,266	1,150,299
Less current maturities of long-term debt		(120,000)	(120,000)
Long-term debt, net		979,266	1,030,299
Revolving Credit Facility [Member]
Debt, gross		1,140,000	1,200,000
Senior Credit Facility Agreement Due 2026 [Member]
Debt, gross		$ 0	$ 0
[1]Discounts as of June 30, 2024 and December 31, 2023 consisted of $30.0 million in discounts less accumulated amortization of $7.8 million and $2.9 million, respectively.[2]Debt issuance costs as of June 30, 2024 and December 31, 2023 consisted of $25.1 million and $25.0 million, respectively, in costs less accumulated amortization of $6.5 million and $2.4 million, respectively.

Note 8 - Asset Retirement Obl_3

Note 8 - Asset Retirement Obligations - Asset Retirement Obligations Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Beginning asset retirement obligations			$ 13,245
Liabilities incurred from new wells			296
Dispositions			(111)
Accretion of discount	$ 242	$ 120	481	$ 238
Ending asset retirement obligations	$ 13,911		$ 13,911

Note 9 - Incentive Plans (Detai

Note 9 - Incentive Plans (Details Textual) - USD ($)						3 Months Ended		6 Months Ended		12 Months Ended	258 Months Ended
	Jun. 04, 2024	Jul. 31, 2023	Jun. 01, 2023	Jun. 01, 2022	Nov. 04, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jun. 30, 2023
Share-Based Payment Arrangement, Expense						$ 3,775,000	$ 3,984,000	$ 7,573,000	$ 8,038,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross										1,949,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense								80,000	555,000
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount						6,000		6,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		1,949,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares		1
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense								3,600,000	3,600,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)					1,500,500
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)					3 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total						2,400,000		2,400,000
Restricted Stock [Member] | Outside Directors [Member]
Share-Based Payment Arrangement, Expense								316,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	53,879		58,767	21,184
Restricted Stock [Member] | Outside Directors [Member] | June 4, 2024 [Member]
Share-Based Payment Arrangement, Expense								63,000
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount						694,000		694,000
Restricted Stock [Member] | Outside Directors [Member] | June 1, 2023 [Member]
Share-Based Payment Arrangement, Expense											$ 305,000
Contractual Equity-based Bonus [Member]
Share-Based Payment Arrangement, Expense								3,500,000	3,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)				600,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total						$ 2,300,000		$ 2,300,000
The 401K Plan [Member]
Defined Contribution Plan, Period of Employment for Eligibility (Month)								3 months
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent								80%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match								100%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay								4%
Defined Contribution Plan, Employer Discretionary Contribution Amount								$ 263,000	$ 134,000

Note 9 - Incentive Plans - Numb

Note 9 - Incentive Plans - Number of Shares Available for Grant Pursuant to Long-term Incentive Plan (Details) - shares	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2021
Shares subject to awards issued under plan (in shares)	(13,444,062)	(13,449,061)	(11,517,228)
The 2020 Long-term Incentive Plan [Member]
Approved and authorized shares (in shares)	16,414,015	16,414,015
Shares subject to awards issued under plan (in shares)	(15,808,671)	(15,759,791)
Shares available for future grant (in shares)	605,344	654,224

Note 9 - Incentive Plans - Stoc

Note 9 - Incentive Plans - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Outstanding (in shares)	13,449,061			11,517,228
Outstanding, average exercise price (in dollars per share)	$ 11.95			$ 12.2
Outstanding, remaining term (Year)	5 years 9 months 18 days		6 years 3 months 18 days	7 years 10 months 24 days
Outstanding, intrinsic value	$ 160,592		$ 47,672	$ 128,429
Awards granted (in shares)			1,949,000
Awards granted, average exercise price (in dollars per share)			$ 10.5
Shares issued upon options being exercised (in shares)	0	11,834	11,834
Exercised, average exercise price (in dollars per share)			$ 12.52
Forfeitures (in shares)	(4,999)		(5,333)
Forfeitures, average exercise price (in dollars per share)	$ 26.44		$ 24.83
Outstanding (in shares)	13,444,062		13,449,061
Outstanding, average exercise price (in dollars per share)	$ 11.95		$ 11.95
Vested (in shares)	13,428,404		13,387,074
Vested, average exercise price (in dollars per share)	$ 11.94		$ 11.88
Vested, remaining term (Year)	5 years 9 months 18 days		6 years 3 months 18 days
Vested, intrinsic value	$ 160,279		$ 47,672
Exercisable (in shares)	11,479,404		11,438,074
Exercisable, average exercise price (in dollars per share)	$ 12.18		$ 12.12
Exercisable, remaining term (Year)	6 years 4 months 24 days		6 years 10 months 24 days
Exercisable, intrinsic value	$ 139,815		$ 40,383

Note 10 - Commitments and Con_3

Note 10 - Commitments and Contingencies (Details Textual)	1 Months Ended	6 Months Ended	33 Months Ended
	Oct. 31, 2021 bbl	Jun. 30, 2024 USD ($) T MMBbls	Jun. 30, 2024 USD ($) MMBbls bbl	Dec. 31, 2025 USD ($)	Jul. 01, 2025	Dec. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Other noncurrent assets	Other noncurrent assets					Other noncurrent assets
Operating Lease, Right-of-Use Asset		$ 574,000	$ 574,000					$ 510,000
Operating Lease, Liability		587,000	587,000					528,000
Operating Lease, Liability, Current		$ 422,000	$ 422,000					528,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Operating Lease, Liability, Current	Operating Lease, Liability, Current
Operating Lease, Liability, Noncurrent		$ 165,000	$ 165,000					$ 0
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Operating Lease, Liability, Noncurrent	Operating Lease, Liability, Noncurrent
TXU Energy Retail Company LLC [Member]
Letters of Credit Outstanding, Amount							$ 4,600,000
Forecast [Member]
Contributions in Aid of Construction				$ 27,200,000		$ 5,400,000
Crude Oil Delivery Commitments [Member]
Supply Commitment, Gross Barrels of Oil Delivered Per Day, Year One (Barrel of Oil) | bbl	5,000
Supply Commitment, Gross Barrels of Oil Delivered Per Day, Year Two (Barrel of Oil) | bbl	7,500
Supply Commitment, Gross Barrels of Oil Delivered Per Day, Remaining Term of Contract (Barrel of Oil) | bbl	10,000
Supply Commitment, Remaining Term of Contract (Year)	8 years
Number of Barrels, Delivered (Barrel of Oil) | bbl			29,710
Supply Commitment, Percent of Contracted Volume Delivered			88%
Supply Commitment, Remaining Minimum Amount Committed, Volume | MMBbls		4	4
Supply Commitment, Amount Committed		$ 3,300,000	$ 3,300,000
Sand Commitments [Member]
Supply Commitment, Amount Committed		$ 14,100,000	$ 14,100,000
Supply Commitment, Minimum Tons of Sand					750,000,000,000
Supply Commitment, Tons of Sand Received (US Ton) | T		198,000
Supply Commitment, Tons of Sand Remaining (US Ton) | T		552,000

Note 10 - Commitments and Con_4

Note 10 - Commitments and Contingencies - Operating Lease Obligations (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Remainder of 2024	$ 363,000
2025	261,000
Total	624,000
Less present value discount	(37,000)
Operating Lease, Liability	$ 587,000	$ 528,000

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual) shares in Millions, Pure in Millions, $ in Millions		1 Months Ended	6 Months Ended
	Jul. 31, 2023 shares	Apr. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	May 31, 2022
Existing Stockholders [Member] | Public Stock Offering [Member]
Stock Issued During Period, Shares, New Issues | shares	10
Pilot Exploration Inc. [Member]
Supply Commitment, Minimum Barrels of Produced Water				29.2
Pilot Exploration Inc. [Member] | Water Treatment Services [Member]
Related Party Transaction, Amounts of Transaction | $		$ 6.5	$ 1.5

Note 12 - Major Customers (Deta

Note 12 - Major Customers (Details Textual) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lion Oil Trading and Transportation, LLC [Member]
Concentration Risk, Percentage	75%	77%
Energy Transfer Crude Marketing, LLC [Member]
Concentration Risk, Percentage	19%	19%

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21%
Deferred Tax Assets, Valuation Allowance	$ 0		$ 0		$ 0
Income Tax Expense (Benefit)	14,250,000	$ 9,644,000	16,547,000	$ 24,151,000
Deferred Income Tax Liabilities, Net	213,038,000		213,038,000		197,068,000
Texas Margin Tax [Member]
Income Tax Expense (Benefit)			301,000	$ 0
Texas Margin Tax [Member] | State and Local Jurisdiction [Member]
Deferred Income Tax Liabilities, Net	7,700,000		7,700,000		$ 7,100,000
Cumulative Effect, Period of Adoption, Adjustment [Member]
Income Tax Expense (Benefit)			1,000,000
Deferred Tax Assets, Gross	$ 3,000,000		$ 3,000,000

Note 13 - Income Taxes - Income

Note 13 - Income Taxes - Income Tax Benefit and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Federal	$ (110)	$ 0	$ 276	$ 0
State	78	0	301	0
Total current income tax expense	(32)	0	577	0
Federal	13,848	9,121	15,313	23,041
State	434	523	657	1,110
Deferred income tax expense	14,282	9,644	15,970	24,151
Total income tax expense	$ 14,250	$ 9,644	$ 16,547	$ 24,151

Note 13 - Income Taxes - Effect

Note 13 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income tax expense at U.S. federal statutory rate	$ 9,233	$ 8,709	$ 11,067	$ 22,309
Limited tax benefit due to stock-based compensation	4,059	451	4,436	740
State deferred income taxes	496	523	895	1,110
Other, net	462	(39)	149	(8)
Provision for income taxes	$ 14,250	$ 9,644	$ 16,547	$ 24,151
Effective income tax rate	32.40%	23.30%	31.40%	22.70%

Note 13 - Income Taxes - Deferr

Note 13 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Interest expense limitations	$ 57,010	$ 41,352
Net operating loss carryforwards	12,399	13,503
Stock-based compensation	3,270	6,332
Unrecognized derivative losses, net	2,347	0
Other	34	36
Less: Valuation allowance	0	0
Deferred tax assets	75,060	61,223
Crude oil and natural gas properties, principally due to differences in basis and depreciation and the deduction of intangible drilling costs for tax purposes	(287,950)	(250,859)
Other	(148)	0
Unrecognized derivative gains, net	0	(7,432)
Deferred tax liabilities	(288,098)	(258,291)
Net deferred tax liabilities	$ (213,038)	$ (197,068)

Note 14 - Earnings Per Share -

Note 14 - Earnings Per Share - Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders (Details) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income		$ 29,717	$ 6,438	$ 31,826	$ 50,257	$ 36,155	$ 82,083
Participating basic earnings (a)	[1]	(2,860)		(2,942)		(3,466)	(7,590)
Basic earnings attributable to common stockholders		26,857		28,884		32,689	74,493
Reallocation of participating earnings		36		46		37	123
Diluted net income attributable to common stockholders		$ 26,893		$ 28,930		$ 32,726	$ 74,616
Basic weighted average shares outstanding (in shares)		125,341		111,227		125,341	111,227
Dilutive warrants and unvested stock options (in shares)		1,753		2,592		1,770	3,741
Dilutive unvested restricted stock (in shares)		2,154		2,159		2,154	2,159
Diluted weighted average shares outstanding (in shares)		129,248		115,978		129,265	117,127
[1]Vested stock options represent participating securities because they participate in dividend equivalents with the common equity holders of the Company. Participating earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Certain unvested restricted stock awarded to outside directors, employee members of the Board and certain employees do not represent participating securities because, while they participate in dividends with the common equity holders of the Company, the dividends associated with such unvested restricted stock are forfeitable in connection with the forfeitability of the underlying restricted stock. Unvested stock options do not represent participating securities because, while they participate in dividend equivalents with the common equity holders of the Company, the dividend equivalents associated with unvested stock options are forfeitable in connection with the forfeitability of the underlying stock options.

Note 15 - Stockholders' Equity

Note 15 - Stockholders' Equity (Details Textual) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Feb. 28, 2023
Stock Repurchased and Retired During Period, Value	$ 5,845,000	$ 8,851,000
Stock Issued During Period, Shares, Warrants and Stock Options Exercised					55	162,129
Stock Issued During Period, Shares, Warrant Exercises					55	150,295
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)					0	11,834	11,834
Dividends declared per share (in dollars per share)	$ 0.04	$ 0.04	$ 0.025	$ 0.025	$ 0.08	$ 0.05
Dividends Payable	$ 84,000	$ 86,000	$ 53,000		$ 84,000	$ 53,000		$ 53,000
Common Stock, Shares, Outstanding	127,495,868				127,495,868		128,420,923
Class of Warrant or Right, Outstanding	7,934,922				7,934,922		7,934,977
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.5				$ 11.5		$ 11.5
O, 2024, Q2, Dividends [Member]
Dividends declared per share (in dollars per share)	$ 0.04
Dividends	$ 5,000,000
O, 2024, Q2, Dividend Equivalent, Dividends [Member]
Dividends	538,000
O, 2024, Q1, Dividends [Member]
Dividends declared per share (in dollars per share)		$ 0.04
Dividends		$ 5,100,000
O, 2024, Q1, Dividend Equivalent, Dividends [Member]
Dividends		536,000
O, 2023, Q2, Dividends [Member]
Dividends declared per share (in dollars per share)			$ 0.025
Dividends			$ 2,800,000
O, 2023, Q2, Dividend Equivalent, Dividends [Member]
Dividends			$ 282,000
O, 2023, Q4, Dividends [Member]
Dividends declared per share (in dollars per share)				$ 0.025
Dividends				$ 2,800,000
O, 2023, Q4, Dividend Equivalent, Dividends [Member]
Dividends				$ 283,000
Share Repurchase Program [Member]
Share Repurchase Program, Authorized, Amount		$ 75,000,000
Stock Repurchased and Retired During Period, Value					$ 14,300,000	$ 0
Share Repurchase Program, Remaining Authorized, Amount	$ 60,700,000				$ 60,700,000

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual) - USD ($)	3 Months Ended					6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Feb. 28, 2023
Dividends declared per share (in dollars per share)		$ 0.04	$ 0.04	$ 0.025	$ 0.025	$ 0.08	$ 0.05
Dividends Payable		$ 84,000	$ 86,000	$ 53,000		$ 84,000	$ 53,000	$ 53,000
O, 2024, Q3, Dividends [Member] | Forecast [Member]
Dividends declared per share (in dollars per share)	$ 0.04
Dividends	$ 5,000,000
O, 2024, Q3, Dividend Equivalent, Dividends [Member] | Forecast [Member]
Dividends	538,000
Dividends Payable	$ 86,000