PrimeEnergy Resources (PNRG) 10-Q 14 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 09, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	PNRG
Entity Registrant Name	PRIMEENERGY RESOURCES CORP
Entity Central Index Key	0000056868
Current Fiscal Year End Date	--12-31
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Address, State or Province	TX
Entity Common Stock, Shares Outstanding		2,010,613

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 2,821	$ 6,315
Accounts receivable, net	16,848	14,961
Prepaid obligations	485	640
Derivative asset short-term	1,081	1,674
Other current assets	139	144
Total Current Assets	21,374	23,734
Property and Equipment, at cost
Oil and gas properties (successful efforts method), net	216,123	223,669
Field and office equipment, net	6,905	6,756
Total Property and Equipment, Net	223,028	230,425
Derivative asset long-term and other assets	623	893
Total Assets	245,025	255,052
Current Liabilities
Accounts payable	13,440	9,553
Accrued liabilities	6,767	18,431
Current portion of long-term debt		698
Current portion of asset retirement and other obligations	2,098	1,687
Derivative liability short-term	1,675	88
Due to Related Parties		5
Total Current Liabilities	23,980	30,462
Long-Term Bank Debt	62,000	65,547
Asset Retirement Obligations	19,377	19,647
Derivative Liability Long-Term		10
Deferred Income Taxes	33,534	32,828
Other Long-Term Obligations	608	555
Total Liabilities	139,499	149,049
Commitments and Contingencies
Equity
Common stock, $.10 par value; 2019 and 2018: Authorized and Issued: 2,810,000 shares; outstanding 2019: 2,017,508 shares; 2018: 2,039,919 shares	281	281
Paid-in capital	7,612	7,388
Retained earnings	128,381	125,644
Treasury stock, at cost; 2019: 792,492 shares; 2018: 770,081 shares	(34,316)	(31,304)
Total Stockholders' Equity – PrimeEnergy	101,958	102,009
Non-controlling interest	3,568	3,994
Total Equity	105,526	106,003
Total Liabilities and Equity	$ 245,025	$ 255,052

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	2,810,000	2,810,000
Common stock, shares issued	2,810,000	2,810,000
Common stock, shares outstanding	2,017,508	2,039,919
Treasury stock, shares	792,492	770,081

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Realized loss on derivative instruments, net	$ (851)	$ (1,081)	$ (773)	$ (1,576)
Unrealized gain (loss) on derivative instruments, net	2,862	(4,136)	(2,890)	(5,957)
Other income	4	22	63	22
Total Revenues	31,534	22,387	55,953	50,854
Costs and Expenses
Lease operating expense	8,149	8,757	16,225	17,336
Field service expense	3,979	3,219	7,644	6,429
Depreciation, depletion, amortization and accretion on discounted liabilities	9,292	7,909	18,550	15,832
General and administrative expense	2,895	2,571	9,771	8,547
Total Costs and Expenses	24,315	22,456	52,190	48,144
Gain on Sale and Exchange of Assets	1,023	185	1,689	2,657
Income from Operations	8,242	116	5,452	5,367
Other Income (Expense)
Interest Income	3	12	10	23
Interest (Expense)	(1,013)	(917)	(1,988)	(1,779)
Income (Loss) Before Income Taxes	7,232	(789)	3,474	3,611
Income Taxes Expense (Benefit)	1,410	(192)	683	907
Net Income (Loss)	5,822	(597)	2,791	2,704
Less: Net Income (Loss) Attributable to Non-Controlling Interests	47	(37)	54	(22)
Net Income (Loss) Attributable to PrimeEnergy	$ 5,775	$ (560)	$ 2,737	$ 2,726
Basic Income (Loss) Per Common Share	$ 2.85	$ (0.27)	$ 1.35	$ 1.29
Diluted Income (Loss) Per Common Share	$ 2.07	$ (0.27)	$ 0.98	$ 0.95
Oil sales [Member]
Revenues
Oil, gas and service income	$ 19,644	$ 16,622	$ 38,442	$ 36,723
Natural gas sales [Member]
Revenues
Oil, gas and service income	1,355	1,989	3,590	4,352
Natural gas liquids sales [Member]
Revenues
Oil, gas and service income	2,375	3,098	5,219	5,698
Oil and gas service [Member]
Revenues
Oil, gas and service income	4,757	4,447	9,490	8,662
Administrative Service [Member]
Revenues
Oil, gas and service income	$ 1,388	$ 1,426	$ 2,812	$ 2,930

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid in capital	Retained Earnings [Member]	Treasury Stock [Member]	Total Stockholders' Equity - PrimeEnergy [Member]	Non-Controlling Interest [Member]
Balance at Dec. 31, 2017	$ 102,439	$ 383	$ 8,729	$ 138,320	$ (52,123)	$ 95,309	$ 7,130
Balance, shares at Dec. 31, 2017		3,836,397
Purchase shares of common stock	(3,696)				(3,696)	(3,696)
Net income (loss)	2,704			2,726		2,726	(22)
Purchase of Non-controlling Interest	(10)		43			43	(53)
Balance at Jun. 30, 2018	101,437	$ 383	8,772	141,046	(55,819)	94,382	7,055
Balance, shares at Jun. 30, 2018		3,836,397
Balance at Dec. 31, 2018	$ 106,003	$ 281	7,388	125,644	(31,304)	102,009	3,994
Balance, shares at Dec. 31, 2018	2,810,000	2,810,000
Purchase shares of common stock	$ (3,012)				(3,012)	(3,012)
Net income (loss)	2,791			2,737		2,737	54
Purchase of Non-controlling Interest	(256)		224			224	(480)
Balance at Jun. 30, 2019	$ 105,526	$ 281	$ 7,612	$ 128,381	$ (34,316)	$ 101,958	$ 3,568
Balance, shares at Jun. 30, 2019	2,810,000	2,810,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Treasury Stock [Member]
Purchase of common stock, shares	22,411	72,839
Total Stockholders' Equity - PrimeEnergy [Member]
Purchase of common stock, shares	72,839	22,411

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities:
Net Income including non-controlling interest	$ 2,791	$ 2,704
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion on discounted liabilities	18,550	15,832
Gain on sale of properties	(1,689)	(2,657)
Unrealized loss on derivative instruments, net	2,890	5,957
Provision for deferred income taxes	706	961
Changes in operating assets and liabilities:
Accounts receivable	(1,887)	3,174
Due to related parties	(5)	6
Other assets	160	620
Accounts payable	3,887	(12,042)
Accrued liabilities	(11,664)	(7,121)
Net Cash Provided by Operating Activities	13,739	7,434
Cash Flows from Investing Activities:
Capital expenditures	(11,412)	(18,709)
Proceeds from sale of properties and equipment	1,693	2,112
Net Cash Used in Investing Activities	(9,719)	(16,597)
Cash Flows from Financing Activities:
Purchase of stock for treasury	(3,012)	(3,696)
Purchase of non-controlling interests	(256)	(10)
Proceeds from long-term bank debt and other long-term obligations	13,000	35,300
Repayment of long-term bank debt and other long-term obligations	(17,246)	(25,428)
Net Cash (Used in) Provided by Financing Activities	(7,514)	6,166
Net (Decrease) Increase in Cash and Cash Equivalents	(3,494)	(2,997)
Cash and Cash Equivalents at the Beginning of the Period	6,315	8,438
Cash and Cash Equivalents at the End of the Period	2,821	5,441
Supplemental Disclosures:
Income taxes paid	130	4,341
Interest paid	$ 2,015	$ 1,950

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(1) Basis of Presentation: The accompanying condensed consolidated financial statements of PrimeEnergy Resources Corporation (“PrimeEnergy” or the “Company”) have not been audited by independent public accountants. Pursuant to applicable Securities and Exchange Commission (“SEC”) rules and regulations, the accompanying interim financial statements do not include all disclosures presented in annual financial statements and the reader should refer to the Company’s Form 10-K for the year ended December 31, 2018. In the opinion of management, the accompanying interim condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018, the condensed consolidated results of operations, cash flows and equity for the six months ended June 30, 2019 and 2018. As of June 30, 2019, PrimeEnergy’s significant accounting policies are consistent with those discussed in Note 1—Description of Operations and Significant Accounting Policies of its consolidated financial statements contained in PrimeEnergy’s Annual Report on Form 10-K 2016-02, Recently Adopted Accounting Pronouncements Leases. 2016-02, 2018-11, ASC 842 allowed for the election of certain practical expedients at adoption to ease the burden of implementation. At implementation, the Company elected to (i) maintain the historical lease classification for leases prior to January 1, 2019, (ii) maintain the historical accounting treatment for land easements that existed at adoption, (iii) use historical practices in assessing the lease term of existing contracts at adoption, (iv) combine lease and non-lease The adoption of ASC 842 did not have a material impact on the consolidated statements of operations and had no impact on cash flows. The Company did not record a change to its opening retained earnings as of January 1, 2019, as there was no material change to the timing or pattern of recognition of lease costs due to the adoption of ASC 842. As of June 30, 2019, the Company has operating lease assets and liabilities of $452 thousand and a financing lease included in property and equipment and lease liabilities for $13 thousand. New Pronouncements Issued But Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, 2018-13 In August 2018, the FASB issued ASU 2018-15, internal-use

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions and Dispositions	( 2) Acquisitions and Dispositions: Historically the Company has repurchased the interests of the partners and trust unit holders in the oil and gas limited partnerships (the “Partnerships”) and the asset and business income trusts (the “Trusts”) managed by the Company as general partner and as managing trustee, respectively. The Company purchased such interests in amounts totaling $256,000 and $10,000 for the six months ended June 30, 2019 and 2018, respectively. During the first six months of 2019 and 2018, the Company sold or farmed out interests in certain non-core oil and natural gas properties and undeveloped acreage through a number of separate, individually negotiated transactions in exchange for cash or cash and a royalty or working interest in Texas, Oklahoma, Colorado and West Virginia. Proceeds under these agreements were $1.6 million and $2.8 million, respectively. During the first six months of 2018, the Company acquired approximately 464 net mineral acres and working interest in 53 oil and gas wells for $6.08 million and sold or farmed out interests in certain non-core undeveloped oil and natural gas properties located in Oklahoma, Kansas, Colorado and Texas, in exchange for cash and a royalty or working interest, with proceeds of $2.19 million.

Additional Balance Sheet Inform

Additional Balance Sheet Information	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet Information	(3) Additional Balance Sheet Information: Certain balance sheet amounts are comprised of the following: (Thousands of dollars) June 30, December 31, Accounts Receivable Joint interest billing $ 2,303 $ 1,976 Trade receivables 2,725 1,979 Oil and gas sales 11,131 6,112 Tax refund receivable — 4,760 Other 913 358 17,072 15,185 Less: Allowance for doubtful accounts (224 ) (224 ) Total $ 16,848 $ 14,961 Accounts Payable: Trade $ 5,399 $ 1,174 Royalty and other owners 5,742 6,197 Partner advances 1,335 1,357 Other 964 825 Total $ 13,440 $ 9,553 Accrued Liabilities: Compensation and related expenses $ 3,161 $ 2,907 Property costs 3,606 14,993 Other — 531 Total $ 6,767 $ 18,431

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	(4) Property and Equipment: Property and equipment at June 30, 2019 and December 31, 2018 consisted of the following: (Thousands of dollars) June 30, December 31, Proved oil and gas properties, at cost $ 522,239 $ 514,821 Less: Accumulated depletion and depreciation (306,116 ) (291,152 ) Oil and Gas Properties, Net $ 216,123 $ 223,669 Field and office equipment $ 28,188 $ 27,252 Less: Accumulated depreciation (21,283 ) (20,496 ) Field and Office Equipment, Net $ 6,905 $ 6,756 Total Property and Equipment, Net $ 223,028 $ 230,425

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	(5) Long-Term Debt: Bank Debt: On February 15, 2017, the Company and its lenders entered into a Third Amended and Restated Credit Agreement (the “2017 Credit Agreement”) with a maturity date of February 15, 2021. The Second Amended and Restated Credit Agreement and subsequent amendments were amended and restated by the 2017 Credit Agreement. Pursuant to the terms and conditions of the 2017 Credit Agreement, the Company has a revolving line of credit and letter of credit facility of up to $300 million subject to a borrowing base that is determined semi-annually by the lenders based upon the Company’s financial statements and the estimated value of the Company’s oil and gas properties, in accordance with the Lenders’ customary practices for oil and gas loans. The credit facility is secured by substantially all of the Company’s oil and gas properties. The 2017 Credit Agreement includes terms and covenants that require the Company to maintain a minimum current ratio, total indebtedness to EBITDAX (earnings before depreciation, depletion, amortization, taxes, interest expense and exploration costs) ratio and interest coverage ratio, as defined, and restrictions are placed on the payment of dividends, the amount of treasury stock the Company may purchase, commodity hedge agreements, and loans and investments in its consolidated subsidiaries and limited partnerships. On December 22, 2017, the Company and its lenders entered into a First Amendment to the Third Amended and Restated Credit Agreement. The credit agreement includes the addition of a new lender and retains all other aspects of the original credit agreement. As of the effective date of this amendment the Company’s borrowing base was increased to $85 million. On July 17, 2018, the Company and its lenders entered into a Second Amendment to the Third Amended and Restated Credit Agreement. The credit agreement includes modifications for the borrowing base utilization margins and rates by type of borrowing, revises minimum quantifications for individual borrowings, reduces the overall percentage required for commodity hedge agreements, modifies the requirements placed on the companies’ ability to purchase equity interests and retains all other aspects of the original credit agreement. As of the effective date of this amendment the Company’s borrowing base was increased to $90 million. On January 8, 2019, the Company and its lenders entered into a Third Amendment to the Third Amended and Restated Credit Agreement. The credit agreement includes additions for a Beneficial Ownership Certification on the effective date of the amendment. The agreement includes further clarifications for potential Libor loan market rate issues, swap agreement modifications and retains all other aspects of the original credit agreement. As of the effective date of this amendment the Company’s borrowing base was increased to $100 million. Effective on June 26, 2019 the Company’s lenders adjusted the borrowing base to $90 million. At June 30 2019, the Company had a total of $62 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 5.52% and $28 million available for future borrowings. The combined weighted average interest rate paid on outstanding bank borrowings subject to base rate and LIBO interest was 5.53% for the six months ended June 30, 2019 as compared to 5.38% for six months ended June 30, 2018. The Company’s borrowings under this credit facility approximates fair value because the interest rates are variable and reflective of market rates. Equipment Loans: On July 29, 2014, the Company entered into additional equipment financing facilities (“Additional Equipment Loans”) totaling $6.0 million with JP Morgan Chase Bank. In August 2014, the Company drew down $4.8 million of this facility that is secured by field service equipment, carries an interest rate of 3.40% per annum, requires monthly payments (principal and interest) of $87,800, and has a final maturity date of July 31, 2019. The remaining $1.2 million under the Additional Equipment Loans was available for interim draws to finance the acquisition of any future field service equipment. In December 2014, the Company made an interim draw of an additional $0.5 million on this facility that is secured by recently purchased field service equipment. Interim draws on this facility carried a floating interest rate; payable monthly at the LIBO published rate plus 2.50% and on June 26, 2015 converted into a fixed term loan, with a rate of 3.50% and requiring monthly payments (principal and interest) of $8,700 with a final maturity date of June 26, 2020. On January 12, 2018, the Company made a principal payment towards the third interim loan in the amount of $20,858. Effective with the payment due of January 26, 2018 the required monthly payments (principal and interest) on this loan changed to $7,986 with a continuing effective rate of 3.50% and a final maturity of June 26, 2020. On May 23, 2019, the Company made its final payment towards both the second and third loans. At this time all equipment loans have been paid in full and the field service equipment liens secured by these loans have been cancelled and all titles returned to the Company.

Other Long-Term Obligations and

Other Long-Term Obligations and Commitments	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Other Long-Term Obligations and Commitments	(6) Other Long-Term Obligations and Commitments: Operating Leases: The Company leases office facilities under operating leases and recognizes lease expense on a straight-line basis over the lease term. Leases assets and liabilities are initially recorded at commencement date based on the present value of lease payments over the lease term. A new finance lease for office equipment is included in property and equipment, other current liabilities and other long-term liabilities this quarter. As most of the Company’s lease contracts do not provide an implicit discount rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The weighted average discount rate used was 5.5%. Certain leases may contain variable costs above the minimum required payments and are not included in the right-of-use assets or liabilities. Leases may include renewal, purchase or termination options that can extend or shorten the term of the lease. The exercise of those options is at the Company’s sole discretion and is evaluated at inception and throughout the contract to determine if a modification of the lease term is required. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Operating lease costs for the six months ended June 30, 2019 were $293 thousand. Cash payments included in the operating lease cost for the six months ended June 30, 2019 were $284 thousand. The weighted-average remaining operating lease terms is 12 months. The amortization and interest expense for financing lease amounted to $1,275 and the cash payment for the lease was $1,200 and the lease term remaining was for 22 months. The payment schedule for the Company’s operating and financing lease obligations as of June 30, 2019 is as follows: (Thousands of dollars) Operating Financing Leases 2019 $ 299 $ 5 2020 155 7 2021 17 2 Total undiscounted lease payments $ 471 $ 14 Less: Amount associated with discounting (19 ) (1 ) Net operating lease liabilities $ 452 $ 13 Asset Retirement Obligation: A reconciliation of the liability for plugging and abandonment costs for the six months ended June 30, 2019 is as follows: (Thousands of dollars) June 30, Asset retirement obligation at December 31, 2018 $ 21,334 Liabilities incurred — Liabilities settled (829 ) Accretion expense 560 Revisions in estimated liabilities — Asset retirement obligation at June 30, 2019 $ 21,065 The Company’s liability is determined using significant assumptions, including current estimates of plugging and abandonment costs, annual inflation of these costs, the productive life of wells and a risk-adjusted interest rate. Changes in any of these assumptions can result in significant revisions to the estimated asset retirement obligation. Revisions to the asset retirement obligation are recorded with an offsetting change to producing properties, resulting in prospective changes to depreciation, depletion and amortization expense and accretion of discount. Because of the subjectivity of assumptions and the relatively long life of most of the Company’s wells, the costs to ultimately retire the wells may vary significantly from previous estimates.

Contingent Liabilities

Contingent Liabilities	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	(7) Contingent Liabilities: The Company, as managing general partner of the affiliated Partnerships, is responsible for all Partnership activities, including the drilling of development wells and the production and sale of oil and gas from productive wells. The Company also provides the administration, accounting and tax preparation work for the Partnerships, and is liable for all debts and liabilities of the affiliated Partnerships, to the extent that the assets of a given limited Partnership are not sufficient to satisfy its obligations. The Company is subject to environmental laws and regulations. Management believes that future expenses, before recoveries from third parties, if any, will not have a material effect on the Company’s financial condition. This opinion is based on expenses incurred to date for remediation and compliance with laws and regulations, which have not been material to the Company’s results of operations. From time to time, the Company is party to certain legal actions arising in the ordinary course of business. While the outcome of these events cannot be predicted with certainty, management does not expect these matters to have a materially adverse effect on the financial position or results of operations of the Company.

Stock Options and Other Compens

Stock Options and Other Compensation	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options and Other Compensation	(8) Stock Options and Other Compensation: In May 1989, non-statutory stock options were granted by the Company to four key executive officers for the purchase of shares of common stock. At June 30, 2019 and December 31, 2018, remaining options held by two key executive officers on 767,500 shares were outstanding and exercisable at prices ranging from $1.00 to $1.25. According to their terms, the options have no expiration date.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	(9) Related Party Transactions: The Company, as managing general partner or managing trustee, makes an annual offer to repurchase the interests of the partners and trust unit holders in certain of the Partnerships or Trusts. The Company purchased interests totaling $256,000 and $10,000 for the six months ended June 30, 2019 and 2018, respectively.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Financial Instruments	(10) Financial Instruments Fair Value Measurements: Authoritative guidance on fair value measurements defines fair value, establishes a framework for measuring fair value and stipulates the related disclosure requirements. The Company follows a three-level hierarchy, prioritizing and defining the types of inputs used to measure fair value. The fair values of the natural gas, crude oil price swaps and natural gas liquid swaps are designated as Level 3. The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2019 and December 31, 2018: June 30, 2019 Quoted Prices in Significant Significant Balance at (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 1,081 $ 1,081 Total assets — $ — $ 1,081 $ 1,081 Liabilities Commodity derivative contracts $ — $ — $ (1,675 ) $ (1,675 ) Total liabilities $ — $ — $ (1,675 ) $ (1,675 ) December 31, 2018 Quoted Prices in Significant Significant Balance at (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 2,394 $ 2,394 Total assets $ — $ — $ 2,394 $ 2,394 Liabilities Commodity derivative contract $ — $ — $ (98 ) $ (98 ) Total liabilities $ — $ — $ (98 ) $ (98 ) The derivative contracts were measured based on quotes from the Company’s counterparties. Such quotes have been derived using valuation models that consider various inputs including current market and contractual prices for the underlying instruments, quoted forward prices for natural gas , crude oil, natural gas liquids, volatility factors and interest rates, such as a LIBOR curve for a similar length of time as the derivative contract term as applicable. These estimates are verified using comparable NYMEX futures contracts or are compared to multiple quotes obtained from counterparties for reasonableness. The significant unobservable inputs for Level 3 derivative contracts include basis differentials and volatility factors. An increase (decrease) in these unobservable inputs would result in an increase (decrease) in fair value, respectively. The Company does not have access to the specific assumptions used in its counterparties’ valuation models. Consequently, additional disclosures regarding significant Level 3 unobservable inputs were not provided. The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy for the six months ended June 30, 2019. (Thousands of dollars) Net Asset– December 31, 2018 $ 2,296 Total realized and unrealized (gains) losses: Included in earnings (a) (3,663 ) Purchases, sales, issuances and settlements 773 Net Liabilities June 30, 2019 $ (594 ) a) Derivative instruments are reported in revenues as realized gain (loss) and on a separately reported line item captioned unrealized gain (loss) on derivative instruments. Derivative Instruments: The Company is exposed to commodity price and interest rate risk, and management considers periodically the Company’s exposure to cash flow variability resulting from the commodity price changes and interest rate fluctuations. Futures, swaps and options are used to manage the Company’s exposure to commodity price risk inherent in the Company’s oil and gas production operations. The Company does not apply hedge accounting to any of its commodity based derivatives. Both realized and unrealized gains and losses associated with commodity derivative instruments are recognized in earnings. Interest rate swap derivatives are treated as cash-flow hedges and are used to fix our floating interest rates on existing debt. The value of interest rate swaps if applicable, would be recorded in accumulated other comprehensive loss, net of tax. There are no current interest rate swaps for the periods ending June 30, 2019 and December 31, 2018. The following table sets forth the effect of derivative instruments on the consolidated balance sheets at June 30, 2019 and December 31, 2018: Fair Value (Thousands of dollars) Balance Sheet Location June 30, December 31, Asset Derivatives: Derivatives not designated as cash-flow hedging instruments: Natural gas commodity contracts Derivative asset short-term $ 136 $ 63 Natural gas liquid contracts Derivative asset short-term $ 185 $ 138 Crude oil commodity contracts Derivative asset short-term $ 760 $ 1,473 Natural gas commodity contracts Derivative asset long-term and $ — $ 7 Crude oil commodity contracts Derivative asset long-term and — 713 Total $ 1,081 $ 2,394 Liability Derivatives: Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term $ (1,675 ) $ — Natural gas commodity contracts Derivative liability short-term — (75 ) Natural gas liquid contracts Derivative liability short-term — (13 ) Natural gas commodity contracts Derivative liability long-term — (10 ) Total $ (1,675 ) $ (98 ) Total derivative instruments $ (594 ) $ 2,296 The following table sets forth the effect of derivative instruments on the consolidated statements of operations for the six-month period ended June 30, 2019 and 2018: Location of gain (loss) recognized in income Amount of gain/loss (Thousands of dollars) 2019 2018 Derivatives not designated as cash-flow hedge instruments: Natural gas commodity contracts Unrealized gain (loss) on derivative instruments, net $ 151 $ (328 ) Crude oil commodity contracts Unrealized loss on derivative instruments, net (3,101 ) (5,432 ) Natural gas liquids contracts Unrealized gain (loss) on derivative instruments, net 60 (197 ) Natural gas commodity contracts Realized (loss) gain on derivative instruments, net (8 ) 85 Crude oil commodity contracts Realized loss on derivative instruments, net (876 ) (1,634 ) Natural gas liquids contracts Realized gain (loss) on derivative instruments, net 111 (27 ) $ (3,663 ) $ (7,533 )

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	(11) Earnings Per Share: Basic earnings per share are computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect per share amounts that would have resulted if dilutive potential common stock had been converted to common stock in gain periods. The following reconciles amounts reported in the financial statements: Six Months Ended June 30, 2019 2018 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 2,737 2,031,569 $ 1.35 $ 2,726 2,119,343 $ 1.29 Effect of dilutive securities: Options 761,169 753,404 Diluted $ 2,737 2,792,738 $ 0.98 $ 2,726 2,872,747 $ 0.95 Three Months Ended June 30, 2019 2018 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 5,775 2,026,119 $ 2.85 $ (560 ) 2,097,737 $ (0.27 ) Effect of dilutive securities: Options (a) 761,584 Diluted $ 5,775 2,787,702 $ 2.07 $ (560 ) 2,097,737 $ (0.27 ) (a) The effect of the 767,500 outstanding stock option is anti-dilutive for the three months ended June 30, 2018 due to net loss for the period. This Report may contain statements relating to the future results of the Company that are considered “forward-looking statements “as defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). In addition, certain statements may be contained in the Company’s future filings with the SEC, in press releases, and in oral and written statements made by or with the approval of the Company that are not statements of historical fact and constitute forward-looking statements within the meaning of the PSLRA. Such forward-looking statements, in addition to historical information, which involve risk and uncertainties, are based on the beliefs, assumptions and expectations of management of the Company. Words such as “expects”, ‘believes”, “should”, “plans”, “anticipates”, “will”, “potential”, “could”, “intend”, “may”, “outlook”, “predict”, “project”, “would”, “estimates”, “assumes”, “likely” and variations of such similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company’s oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company’s ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected. The forward-looking statements are made as of the date of this Report and other than as required by the federal securities laws, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Leases. 2016-02, 2018-11, ASC 842 allowed for the election of certain practical expedients at adoption to ease the burden of implementation. At implementation, the Company elected to (i) maintain the historical lease classification for leases prior to January 1, 2019, (ii) maintain the historical accounting treatment for land easements that existed at adoption, (iii) use historical practices in assessing the lease term of existing contracts at adoption, (iv) combine lease and non-lease The adoption of ASC 842 did not have a material impact on the consolidated statements of operations and had no impact on cash flows. The Company did not record a change to its opening retained earnings as of January 1, 2019, as there was no material change to the timing or pattern of recognition of lease costs due to the adoption of ASC 842. As of June 30, 2019, the Company has operating lease assets and liabilities of $452 thousand and a financing lease included in property and equipment and lease liabilities for $13 thousand. New Pronouncements Issued But Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, 2018-13 In August 2018, the FASB issued ASU 2018-15, internal-use

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Balance Sheet Amounts	Certain balance sheet amounts are comprised of the following: (Thousands of dollars) June 30, December 31, Accounts Receivable Joint interest billing $ 2,303 $ 1,976 Trade receivables 2,725 1,979 Oil and gas sales 11,131 6,112 Tax refund receivable — 4,760 Other 913 358 17,072 15,185 Less: Allowance for doubtful accounts (224 ) (224 ) Total $ 16,848 $ 14,961 Accounts Payable: Trade $ 5,399 $ 1,174 Royalty and other owners 5,742 6,197 Partner advances 1,335 1,357 Other 964 825 Total $ 13,440 $ 9,553 Accrued Liabilities: Compensation and related expenses $ 3,161 $ 2,907 Property costs 3,606 14,993 Other — 531 Total $ 6,767 $ 18,431

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property and equipment	Property and equipment at June 30, 2019 and December 31, 2018 consisted of the following: (Thousands of dollars) June 30, December 31, Proved oil and gas properties, at cost $ 522,239 $ 514,821 Less: Accumulated depletion and depreciation (306,116 ) (291,152 ) Oil and Gas Properties, Net $ 216,123 $ 223,669 Field and office equipment $ 28,188 $ 27,252 Less: Accumulated depreciation (21,283 ) (20,496 ) Field and Office Equipment, Net $ 6,905 $ 6,756 Total Property and Equipment, Net $ 223,028 $ 230,425

Other Long-Term Obligations a_2

Other Long-Term Obligations and Commitments (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Summary of Future Minimum Lease Payments for Non-Cancelable Operating Leases	The payment schedule for the Company’s operating and financing lease obligations as of June 30, 2019 is as follows: (Thousands of dollars) Operating Financing Leases 2019 $ 299 $ 5 2020 155 7 2021 17 2 Total undiscounted lease payments $ 471 $ 14 Less: Amount associated with discounting (19 ) (1 ) Net operating lease liabilities $ 452 $ 13
Reconciliation of Liability for Plugging and Abandonment Costs	A reconciliation of the liability for plugging and abandonment costs for the six months ended June 30, 2019 is as follows: (Thousands of dollars) June 30, Asset retirement obligation at December 31, 2018 $ 21,334 Liabilities incurred — Liabilities settled (829 ) Accretion expense 560 Revisions in estimated liabilities — Asset retirement obligation at June 30, 2019 $ 21,065

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2019 and December 31, 2018: June 30, 2019 Quoted Prices in Significant Significant Balance at (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 1,081 $ 1,081 Total assets — $ — $ 1,081 $ 1,081 Liabilities Commodity derivative contracts $ — $ — $ (1,675 ) $ (1,675 ) Total liabilities $ — $ — $ (1,675 ) $ (1,675 ) December 31, 2018 Quoted Prices in Significant Significant Balance at (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 2,394 $ 2,394 Total assets $ — $ — $ 2,394 $ 2,394 Liabilities Commodity derivative contract $ — $ — $ (98 ) $ (98 ) Total liabilities $ — $ — $ (98 ) $ (98 )
Schedule of Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3	The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy for the six months ended June 30, 2019. (Thousands of dollars) Net Asset– December 31, 2018 $ 2,296 Total realized and unrealized (gains) losses: Included in earnings (a) (3,663 ) Purchases, sales, issuances and settlements 773 Net Liabilities June 30, 2019 $ (594 ) a) Derivative instruments are reported in revenues as realized gain (loss) and on a separately reported line item captioned unrealized gain (loss) on derivative instruments.
Effect of Derivative Instruments on Consolidated Balance Sheets	The following table sets forth the effect of derivative instruments on the consolidated balance sheets at June 30, 2019 and December 31, 2018: Fair Value (Thousands of dollars) Balance Sheet Location June 30, December 31, Asset Derivatives: Derivatives not designated as cash-flow hedging instruments: Natural gas commodity contracts Derivative asset short-term $ 136 $ 63 Natural gas liquid contracts Derivative asset short-term $ 185 $ 138 Crude oil commodity contracts Derivative asset short-term $ 760 $ 1,473 Natural gas commodity contracts Derivative asset long-term and $ — $ 7 Crude oil commodity contracts Derivative asset long-term and — 713 Total $ 1,081 $ 2,394 Liability Derivatives: Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term $ (1,675 ) $ — Natural gas commodity contracts Derivative liability short-term — (75 ) Natural gas liquid contracts Derivative liability short-term — (13 ) Natural gas commodity contracts Derivative liability long-term — (10 ) Total $ (1,675 ) $ (98 ) Total derivative instruments $ (594 ) $ 2,296
Effect of Derivative Instruments on Consolidated Statements of Operations	The following table sets forth the effect of derivative instruments on the consolidated statements of operations for the six-month period ended June 30, 2019 and 2018: Location of gain (loss) recognized in income Amount of gain/loss (Thousands of dollars) 2019 2018 Derivatives not designated as cash-flow hedge instruments: Natural gas commodity contracts Unrealized gain (loss) on derivative instruments, net $ 151 $ (328 ) Crude oil commodity contracts Unrealized loss on derivative instruments, net (3,101 ) (5,432 ) Natural gas liquids contracts Unrealized gain (loss) on derivative instruments, net 60 (197 ) Natural gas commodity contracts Realized (loss) gain on derivative instruments, net (8 ) 85 Crude oil commodity contracts Realized loss on derivative instruments, net (876 ) (1,634 ) Natural gas liquids contracts Realized gain (loss) on derivative instruments, net 111 (27 ) $ (3,663 ) $ (7,533 )

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) per Share	The following reconciles amounts reported in the financial statements: Six Months Ended June 30, 2019 2018 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 2,737 2,031,569 $ 1.35 $ 2,726 2,119,343 $ 1.29 Effect of dilutive securities: Options 761,169 753,404 Diluted $ 2,737 2,792,738 $ 0.98 $ 2,726 2,872,747 $ 0.95 Three Months Ended June 30, 2019 2018 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 5,775 2,026,119 $ 2.85 $ (560 ) 2,097,737 $ (0.27 ) Effect of dilutive securities: Options (a) 761,584 Diluted $ 5,775 2,787,702 $ 2.07 $ (560 ) 2,097,737 $ (0.27 ) (a) The effect of the 767,500 outstanding stock option is anti-dilutive for the three months ended June 30, 2018 due to net loss for the period.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Operating lease liability	$ 452
Finance lease liabilities	13
Accounting Standards Update 2016-02 [Member]
Operating lease assets	452
Operating lease liability	452
Finance lease assets	13
Finance lease liabilities	$ 13

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)aWell
Business Acquisition [Line Items]
Purchase of non-controlling interests	$ 256,000	$ 10,000
Capital expenditures, including exploration expense	11,412,000	18,709,000
Proceeds from sale of property and equipment	1,693,000	2,112,000
Texas, Oklahoma, Colorado and West Virginia [Member] | Mineral Acreage [Member]
Business Acquisition [Line Items]
Proceeds from sale of property and equipment	1,600,000	$ 2,800,000
Oklahoma Kansas Colorado and Texas [Member] | Mineral Acreage [Member]
Business Acquisition [Line Items]
Number of net acres acquired | a		464
Capital expenditures, including exploration expense		$ 6,080,000
Number of oil wells with working interest ownership | Well		53
Proceeds from sale of property and equipment		$ 2,190,000
Partnership And Trust [Member]
Business Acquisition [Line Items]
Purchase of non-controlling interests	$ 256,000	$ 10,000

Additional Balance Sheet Info_3

Additional Balance Sheet Information - Components of Balance Sheet Amounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts Receivable:
Joint interest billing	$ 2,303	$ 1,976
Trade receivables	2,725	1,979
Oil and gas sales	11,131	6,112
Tax refund receivable		4,760
Other	913	358
Accounts Receivable, Gross	17,072	15,185
Less: Allowance for doubtful accounts	(224)	(224)
Total	16,848	14,961
Accounts Payable:
Trade	5,399	1,174
Royalty and other owners	5,742	6,197
Partner advances	1,335	1,357
Other	964	825
Total	13,440	9,553
Accrued Liabilities:
Compensation and related expenses	3,161	2,907
Property costs	3,606	14,993
Other		531
Total	$ 6,767	$ 18,431

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Proved oil and gas properties, at cost	$ 522,239	$ 514,821
Less: Accumulated depletion and depreciation	(306,116)	(291,152)
Oil and Gas Properties, Net	216,123	223,669
Field and office equipment	28,188	27,252
Less: Accumulated depreciation	(21,283)	(20,496)
Field and office equipment, net	6,905	6,756
Total Property and Equipment, Net	$ 223,028	$ 230,425

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)

Jan. 26, 2018

Jan. 12, 2018

Jun. 26, 2015

Feb. 15, 2017

Dec. 31, 2014

Aug. 31, 2014

Jun. 30, 2019

Jun. 26, 2019

Jan. 08, 2019

Jul. 17, 2018

Jun. 30, 2018

Dec. 22, 2017

Jul. 29, 2014

Credit Agreement [Member]

Debt Instrument [Line Items]

Credit facility borrowing base

$ 100,000,000

Outstanding borrowings under revolving credit facility

$ 62,000,000

Weighted-average interest rate of borrowings

5.52%

Credit facility remaining borrowing capacity

$ 28,000,000

Additional Equipment Loan [Member]

Debt Instrument [Line Items]

Credit facility remaining borrowing capacity

$ 1,200,000

Equipment Loan, face amount

$ 6,000,000

Percentage for base rate loans at the prime rate

3.50%

3.40%

Equipment Loan, monthly payment

$ 7,986

$ 87,800

Equipment Loan, maturity date

Jun. 26, 2020

Jul. 31, 2019

Additional equipment Loan, drawings

$ 500,000

$ 4,800,000

Equipment Loan, interest rate description

<tr><td></td></tr></table>" id="sjs-H16">interim draws to finance the acquisition of any future field service equipment. In December 2014, the Company made an interim draw of an additional $0.5&#160;million on this facility that is secured by recently purchased field service equipment. Interim draws on this facility carried a floating interest rate; payable monthly at the LIBO published rate plus 2.50% and on June&#160;26, 2015 converted into a fixed term loan, with a rate of 3.50% and requiring monthly payments&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0">&lt;tr>&lt;td>&lt;/td>&lt;/tr>&lt;/table>

Equipment Loan, principal payment amount

$ 20,858

Fixed Term Loan [Member] | Additional Equipment Loan [Member]

Debt Instrument [Line Items]

Equipment Loan, monthly payment

$ 8,700

Equipment Loan, maturity date

Jun. 26, 2020

Equipment Loan, Interest rate on fixed loans

3.50%

2017 Credit Agreement [Member]

Debt Instrument [Line Items]

Credit facility borrowing capacity

$ 300,000,000

Credit agreement date

Feb. 15, 2017

Credit facility borrowing base

$ 90,000,000

$ 85,000,000

Line of Credit Facility, Expiration Date

Feb. 15, 2021

Credit Agreement [Member]

Debt Instrument [Line Items]

Credit facility borrowing base

$ 90,000,000

London Interbank Offered Rate (LIBOR) [Member] | Additional Equipment Loan [Member]

Debt Instrument [Line Items]

LIBOR rate loans

2.50%

Base Rate And Libor [Member] | Credit Agreement [Member]

Debt Instrument [Line Items]

Debt instrument basis weighted average interest rate spread on variable rate

5.53%

5.38%

Other Long-Term Obligations a_3

Other Long-Term Obligations and Commitments - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Weighted-average discount rate	5.50%
Operating lease weighted-average remaining lease term	12 months
Finance lease remaining lease term	22 months
Finance lease amortization and interest expense	$ 1,275
Operating lease payments	284
Operating lease cost	293
Finance lease payments	$ 1,200

Other Long-Term Obligations a_4

Other Long-Term Obligations and Commitments - Summary of Future Minimum Lease Payments for Non-Cancelable Operating Leases (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 299
2020	155
2021	17
Total undiscounted lease payments	471
Less: Amount associated with discounting	(19)
Net operating lease liabilities	452
2019	5
2020	7
2021	2
Total undiscounted lease payments	14
Less: Amount associated with discounting	(1)
Net operating lease liabilities	$ 13

Other Long-Term Obligations a_5

Other Long-Term Obligations and Commitments - Reconciliation of Liability for Plugging and Abandonment Costs (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Asset retirement obligation	$ 21,334
Liabilities settled	(829)
Accretion expense	560
Asset retirement obligation	$ 21,065

Stock Options and Other Compe_2

Stock Options and Other Compensation - Additional Information (Detail)	Jun. 30, 2019$ / sharesshares	Dec. 31, 2018$ / sharesshares	May 31, 1989Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, shares | shares	767,500	767,500
Number of key executive officers to whom non-statutory stock options granted | Officers			4
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average exercise price | $ / shares	$ 1	$ 1
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average exercise price | $ / shares	$ 1.25	$ 1.25
Nonstatutory Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercisable, shares | shares	767,500	767,500

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 256,000	$ 10,000
Partnership And Trust [Member]
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 256,000	$ 10,000

Financial Instruments - Schedul

Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Derivative assets	$ 1,081	$ 2,394
Liabilities
Derivative liabilities	(1,675)	(98)
Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	1,081	2,394
Liabilities
Derivative liabilities	(1,675)	(98)
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	1,081	2,394
Liabilities
Derivative liabilities	(1,675)	(98)
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	1,081	2,394
Liabilities
Derivative liabilities	(1,675)	(98)
Significant Unobservable Inputs (Level 3) [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	1,081	2,394
Liabilities
Derivative liabilities	$ (1,675)	$ (98)

Financial Instruments - Sched_2

Financial Instruments - Schedule of Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3 (Detail) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Asset at beginning of period	$ 2,296
Total realized and unrealized (gains) losses:
Included in earnings	(3,663)	[1]
Purchases, sales, issuances and settlements	773
Net Liabilities at end of period	$ (594)
[1]	Derivative instruments are reported in revenues as realized gain (loss) and on a separately reported line item captioned unrealized gain (loss) on derivative instruments.

Financial Instruments - Effect

Financial Instruments - Effect of Derivative Instruments on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative assets	$ 1,081	$ 2,394
Derivative liabilities	(1,675)	(98)
Total derivative instruments	(594)	2,296
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Derivative asset short-term [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	136	63
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Derivative asset long-term and other assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets		7
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Derivative liability short-term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		(75)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Derivative liability Long Term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		(10)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Derivative asset short-term [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	760	1,473
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Derivative asset long-term and other assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets		713
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Derivative liability short-term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(1,675)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Liquid Contracts [Member] | Derivative asset short-term [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	$ 185	138
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Liquid Contracts [Member] | Derivative liability short-term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		$ (13)

Financial Instruments - Effec_2

Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	$ (3,663)	$ (7,533)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Unrealized gain (loss) on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	151	(328)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Realized (loss) gain on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	(8)	85
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Unrealized loss on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	(3,101)	(5,432)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Realized loss on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	(876)	(1,634)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Liquid Contracts [Member] | Unrealized gain (loss) on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	60	(197)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Liquid Contracts [Member] | Realized gain (loss) on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	$ 111	$ (27)

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2019		Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net (Loss) Income, Basic	$ 5,775		$ (560)	$ 2,737	$ 2,726
Net (Loss) Income, Diluted	$ 5,775		$ (560)	$ 2,737	$ 2,726
Weighted Average Number of Shares Outstanding, Basic	2,026,119		2,097,737	2,031,569	2,119,343
Weighted Average Number of Shares Outstanding, Options	761,584	[1]		761,169	753,404
Weighted Average Number of Shares Outstanding, Diluted	2,787,702		2,097,737	2,792,738	2,872,747
Per Share Amount, Basic	$ 2.85		$ (0.27)	$ 1.35	$ 1.29
Per Share Amount, Diluted	$ 2.07		$ (0.27)	$ 0.98	$ 0.95
[1]	The effect of the 767,500 outstanding stock option is anti-dilutive for the three months ended June 30, 2018 due to net loss for the period.

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2018shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	767,500