PrimeEnergy Resources (PNRG) 10-Q 19 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Aug. 19, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
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 Current Reporting Status	Yes
Entity Interactive Data Current	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		1,994,177

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 4,500	$ 1,015
Accounts receivable, net	9,017	14,360
Prepaid obligations	686	625
Derivative asset short-term	649	272
Other current assets	489	127
Total Current Assets	15,341	16,399
Property and Equipment, at cost
Oil and gas properties (successful efforts method), net	196,848	205,320
Field and office equipment, net	6,607	6,780
Total Property and Equipment, Net	203,455	212,100
Other assets.	134	866
Total Assets	218,930	229,365
Current Liabilities
Accounts payable	8,760	6,634
Accrued liabilities	3,940	6,836
Current portion of long-term debt	53,500
Current portion of asset retirement and other long-term obligations	1,685	1,369
Derivative liability short-term	141	753
Total Current Liabilities	68,026	15,592
Long-Term Bank Debt	1,243	53,500
Asset Retirement Obligations	19,778	20,330
Derivative Liability Long-Term	48
Deferred Income Taxes	33,609	35,924
Other Long-Term Obligations	562	656
Total Liabilities	123,266	126,002
Commitments and Contingencies
Equity
Common stock, $.10 par value; 2020 and 2019: Authorized and Issued: 2,810,000 shares; outstanding 2020: 1,994,177 shares; 2019: 1,998,978 shares	281	281
Paid-in capital	7,505	7,505
Retained earnings	122,684	129,120
Treasury stock, at cost; 2020: 815,823 shares; 2019: 811,022 shares	(37,501)	(36,792)
Total Stockholders' Equity – PrimeEnergy Resources	92,969	100,114
Non-controlling interest	2,695	3,249
Total Equity	95,664	103,363
Total Liabilities and Equity	$ 218,930	$ 229,365

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
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	1,994,177	1,998,978
Treasury stock, shares	815,823	811,022

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues
Realized loss on derivative instruments, net	$ 4,757	$ (851)	$ 5,954	$ (773)
Unrealized gain (loss) on derivative instruments, net	(5,615)	2,862	941	(2,890)
Other income	136	4	165	63
Total Revenues	7,278	31,534	33,386	55,953
Costs and Expenses
Lease operating expense	6,230	8,149	12,574	16,225
Field service expense	1,925	3,979	5,474	7,644
Depreciation, depletion, amortization and accretion on discounted liabilities	6,900	9,292	15,093	18,550
General and administrative expense	2,570	2,895	10,306	9,771
Total Costs and Expenses	17,625	24,315	43,447	52,190
Gain on Sale and Exchange of Assets	82	1,023	194	1,689
Income from Operations	(10,265)	8,242	(9,867)	5,452
Other Income (Expense)
Interest Income	0	3	0	10
Interest (Expense)	(500)	(1,013)	(1,159)	(1,988)
Income (Loss) Before Income Taxes	(10,765)	7,232	(11,026)	3,474
Income Taxes Expense (Benefit)	(3,979)	1,410	(4,036)	683
Net Income (Loss)	(6,786)	5,822	(6,990)	2,791
Less: Net Income (Loss) Attributable to Non-Controlling Interests	(520)	47	(554)	54
Net Income (Loss) Attributable to PrimeEnergy	$ (6,266)	$ 5,775	$ (6,436)	$ 2,737
Basic Income (Loss) Per Common Share	$ (3.14)	$ 2.85	$ (3.23)	$ 1.35
Diluted Income (Loss) Per Common Share	$ (3.14)	$ 2.07	$ (3.23)	$ 0.98
Oil sales [Member]
Revenues
Oil, gas and service income	$ 3,613	$ 19,644	$ 14,324	$ 38,442
Natural gas sales [Member]
Revenues
Oil, gas and service income	543	1,355	1,389	3,590
Natural gas liquids sales [Member]
Revenues
Oil, gas and service income	495	2,375	1,738	5,219
Oil and gas service [Member]
Costs and Expenses
Field service expense	2,381	4,757	6,681	9,490
Administrative Service [Member]
Revenues
Oil, gas and service income	$ 968	$ 1,388	$ 2,194	$ 2,812

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, 2018	$ 106,003	$ 281	$ 7,388	$ 125,644	$ (31,304)	$ 102,009	$ 3,994
Balance, shares at Dec. 31, 2018		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
Balance at Dec. 31, 2019	$ 103,363	$ 281	7,505	129,120	(36,792)	100,114	3,249
Balance, shares at Dec. 31, 2019	2,810,000	2,810,000
Purchase shares of common stock	$ (709)				(709)	(709)
Net income (loss)	(6,990)			(6,436)		(6,436)	(554)
Purchase of Non- controlling Interest	0
Balance at Jun. 30, 2020	$ 95,664	$ 281	$ 7,505	$ 122,684	$ (37,501)	$ 92,969	$ 2,695
Balance, shares at Jun. 30, 2020	2,810,000	2,810,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Treasury Stock [Member]
Purchase of common stock, shares	4,801	22,411
Total Stockholders' Equity – PrimeEnergy [Member]
Purchase of common stock, shares	4,801	22,411

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net Income (loss)	$ (6,990)	$ 2,791
Adjustments to reconcile net Income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion on discounted liabilities	15,093	18,550
Gain on sale and exchange of assets	(194)	(1,689)
Unrealized (gain) loss on derivative instruments, net	(941)	2,890
Deferred income taxes	(2,315)	706
Changes in assets and liabilities:
Accounts receivable	5,343	(1,887)
Due to related parties		(5)
Prepaids and other assets	(423)	160
Accounts payable	2,126	3,887
Accrued liabilities	(2,896)	(11,664)
Net Cash Provided by Operating Activities	8,803	13,739
Cash Flows from Investing Activities:
Capital expenditures, including exploration expense	(6,046)	(11,412)
Proceeds from sale of properties and equipment	194	1,693
Net Cash (Used in) Investing Activities	(5,852)	(9,719)
Cash Flows from Financing Activities:
Purchase of stock for treasury	(709)	(3,012)
Purchase of non-controlling interests		(256)
Proceeds from long-term bank debt and other long-term obligations	6,243	13,000
Repayment of long-term bank debt and other long-term obligations	(5,000)	(17,246)
Net Cash Provided by (Used in) Financing Activities	534	(7,514)
Net Increase (decrease) in Cash and Cash Equivalents	3,485	(3,494)
Cash and Cash Equivalents at the Beginning of the Period	1,015	6,315
Cash and Cash Equivalents at the End of the Period	4,500	2,821
Supplemental Disclosures:
Income taxes paid		130
Interest paid	$ 1,182	$ 2,015

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
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 As of June 30, 2020, 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

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2020
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. During the six months ending June 30, 2019 the Company purchased such interest totaling $256,000. The Company had no such repurchases during the six months ended June 30, 2020. Subsequent to June 30, 2020 the Company entered into an agreement to sell the Company’s marginal properties in West Virginia effective August 1, 2020 for $200,000 and retaining an overriding royalty on approximately 31,000 undeveloped acres. The Company also entered an agreement to sell acres in West Texas in a transaction expected to close

Additional Balance Sheet Inform

Additional Balance Sheet Information	6 Months Ended
	Jun. 30, 2020
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 $ 1,306 $ 3,339 Trade receivables 555 2,246 Oil and gas sales 3,141 7,284 Tax refund receivable 3,440 1,720 Other 993 189 9,435 14,778 Less: Allowance for doubtful accounts (418 ) (418 ) Total $ 9,017 $ 14,360 Accounts Payable: Trade $ 2,923 $ 261 Royalty and other owners 3,889 4,227 Partner advances 853 1,024 Other 1,095 1,122 Total $ 8,760 $ 6,634 Accrued Liabilities: Compensation and related expenses $ 2,609 $ 3,620 Property costs 1,331 2,829 Other — 387 Total $ 3,940 $ 6,836

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	(4) Property and Equipment: Property and equipment at June 30, 2020 and December 31, 2019 consisted of the following: (Thousands of dollars) June 30, December 31, Proved oil and gas properties, at cost $ 533,097 $ 527,729 Less: Accumulated depletion and depreciation (336,249 ) (322,409 ) Oil and Gas Properties, Net $ 196,848 $ 205,320 Field and office equipment $ 28,120 $ 27,542 Less: Accumulated depreciation (21,513 ) (20,762 ) Field and Office Equipment, Net $ 6,607 $ 6,780 Total Property and Equipment, Net $ 203,455 $ 212,100

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2020
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 Company’s 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. Pursuant to borrowing base redeterminations on June 26, 2019 and December 18, 2019, the borrowing base was set at $90, million and $72, million respectively. At June 30, 2020, the Company had a total of $53.5 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 3.23 % and $18.5 million available for future borrowings. The combined weighted average interest rate paid on outstanding bank borrowings subject to base rate and LIBO interest was 4.22% for the six months ended June 30, 2020 as compared to 5.53% for six months ended June 30, 2019. The Company’s borrowings under this credit facility approximates fair value because the interest rates are variable and reflective of market rates. Paycheck Protection Program Loans During May 2020, Prime Operating Company and Eastern Oil Well Services Corporation, subsidiaries of the Company received loan proceeds in the amount of $1.28 million and $0.47 million , respectively, under the PPP (the “PPP”) of the CARES Act, which was enacted March 27, 2020. The PPP Loans are evidenced by a promissory note in favor of the Lender, which bears interest at the rate of 1.00% per annum. No payments of principal or interest are due under the note until the date on which the amount of loan forgiveness (if any) under the CARES Act, which can be up to 10 months after the end of the related notes covered period (which is defined as 24 weeks after the date of the loan) (the “Deferral Period”). The note may be prepaid at any time prior to maturity with no prepayment penalties. Funds from the PPP Loans may be used only for payroll and related costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations that were incurred prior to February 15, 2020 (the “Qualifying Expenses”). Under the terms of the PPP Loans, certain amounts thereunder may be forgiven if they are used for Qualifying Expenses as described in and in compliance with the CARES Act. While the Company intends to use the PPP Loan proceeds exclusively for Qualifying Expenses, it is unclear and uncertain whether the conditions for forgiveness of the PPP Loans will be met under the current guidelines of the CARES Act. Accordingly, we cannot make any assurance that the Company will be eligible for forgiveness of the PPP Loans, in whole or in part. To the extent, if any, that any or all of the PPP loans are not forgiven, beginning one month following expiration of the Deferral Period, and continuing monthly until 24 months from the date of each applicable Note (the “Maturity Date”), the Company is obligated to make monthly payments of principal and interest to the Lender with respect to any unforgiven portion of the Note, in such equal amounts required to fully amortize the principal amount outstanding on such Note as of the last day of the applicable Deferral Period by the applicable Maturity Date. The Company accounts for these loans as financial liabilities.

Other Long-Term Obligations and

Other Long-Term Obligations and Commitments	6 Months Ended
	Jun. 30, 2020
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 Operating lease costs for the six months ended June 30, 2020 were $290 thousand. Cash payments included in the operating lease cost for six months ended June 30, 2020 were $307 thousand. The weighted-average remaining operating lease terms is 7 months. The amortization and interest expense for financing lease amounted to $3,632 and the cash payment for the lease was $3,828 and the lease term remaining was for 10 months. The Company amended certain leases for office space in Texas and Oklahoma providing for payments of $461 thousand and $89 thousand in 2020 and 2021, respectively. Rent expense for office space for the six months ended June 30, 2020 and 2019 was $331,000 and $315,000, respectively. The payment schedule for the Company’s operating and financing lease obligations as of June 30, 2020 is as follows: (Thousands of dollars) Operating Financing 2021 $ 106 $ 2 2020 309 4 Total undiscounted lease payments $ 415 $ 6 Less: Amount associated with discounting (35 ) (1 ) Net operating lease liabilities $ 380 $ 5 Asset Retirement Obligation: A reconciliation of the liability for plugging and abandonment costs for the six months ended June 30, 2020 is as follows: (Thousands of dollars) June 30, Asset retirement obligation at December 31, 2019 $ 21,118 Liabilities settled (1,053 ) Accretion expense 502 Asset retirement obligation at June 30, 2020 $ 20,567 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, 2020
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, 2020
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

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
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 for the six six Payables owed to related parties primarily represent receipts collected by the Company as agent for the joint venture partners, which may include members of the Company’s Board of Directors, for oil and gas sales net of expenses.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2020
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, 2020 and December 31, 2019: June 30, 2020 Quoted Prices in Significant Significant Balance at 2020 (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 649 $ 649 Total assets — $ — $ 649 $ 649 Liabilities Commodity derivative contracts $ — $ — $ (189 ) $ (189 ) Total liabilities $ — $ — $ (189 ) $ (189 ) December 31, 2019 Quoted Prices in Significant Significant Balance at (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 272 $ 272 Total assets $ — $ — $ 272 $ 272 Liabilities Commodity derivative contract $ — $ — $ (753 ) $ (753 ) Total liabilities $ — $ — $ (753 ) $ (753 ) 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 period ended June 30, 2020. (Thousands of dollars) Net Liability– December 31, 2019 $ (481 ) Total realized and unrealized (gains) losses: Included in earnings (a) 6,895 Purchases, sales, issuances and settlements (5,954 ) Net Asset June 30, 2020 $ 460 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, 2020 and December 31, 2019. The following table sets forth the effect of derivative instruments on the consolidated balance sheets at June 30, 2020 and December 31, 2019: 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 $ 334 $ 146 Crude oil commodity contracts Derivative asset short-term 315 126 Total $ 649 $ 272 Liability Derivatives: Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term $ (69 ) $ (715 ) Natural gas commodity contracts Derivative liability short-term (72 ) (38 ) Natural gas commodity contracts Derivative liability long-term (48 ) Total $ (189 ) $ (753 ) Total derivative instruments $ 460 $ (481 ) The following table sets forth the effect of derivative instruments on the consolidated statements of operations for the six-months Location of gain (loss) recognized in income Amount of gain/ (Thousands of dollars) 2020 2019 Derivatives not designated as cash-flow hedge instruments: Natural gas commodity contracts Unrealized gain (loss) on derivative instruments, net $ 87 $ 151 Crude oil commodity contracts Unrealized gain (loss) on derivative instruments, net 854 (3,101 ) Natural gas liquids contracts Unrealized (loss) on derivative instruments, net — 60 Natural gas commodity contracts Realized gain (loss) on derivative instruments, net 409 (8 ) Crude oil commodity contracts Realized gain on derivative 5,545 (876 ) Natural gas liquids contracts Realized gain on derivative — 111 $ 6,895 $ (3,663 )

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 Net Loss Weighted Per Share Net Loss Weighted Per Share Basic $ (6,436 ) 1,994,675 $ (3.23 ) $ 2,737 2,031,569 $ 1.35 Effect of dilutive securities: Options (a) — — — 761,169 Diluted $ (6,436 ) 1,994,675 $ (3.23 ) $ 2,737 2,792,738 $ 0.98 Three Months Ended June 30, 2020 2019 Net Loss Weighted Per Share Net Loss Weighted Per Share Basic $ (6,266 ) 1,994,177 $ (3.14 ) $ 5,775 2,026,119 $ 2.85 Effect of dilutive securities: Options (a) — — — 761,583 Diluted $ (6,266 ) 1,994,177 $ (3.14 ) $ 5,775 2,787,702 $ 2.07 (a) The effect of the 767,500 outstanding stock option is anti-dilutive for the six and three months ended June 30, 2020, due to net loss for the period.

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2020
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 $ 1,306 $ 3,339 Trade receivables 555 2,246 Oil and gas sales 3,141 7,284 Tax refund receivable 3,440 1,720 Other 993 189 9,435 14,778 Less: Allowance for doubtful accounts (418 ) (418 ) Total $ 9,017 $ 14,360 Accounts Payable: Trade $ 2,923 $ 261 Royalty and other owners 3,889 4,227 Partner advances 853 1,024 Other 1,095 1,122 Total $ 8,760 $ 6,634 Accrued Liabilities: Compensation and related expenses $ 2,609 $ 3,620 Property costs 1,331 2,829 Other — 387 Total $ 3,940 $ 6,836

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property and equipment	Property and equipment at June 30, 2020 and December 31, 2019 consisted of the following: (Thousands of dollars) June 30, December 31, Proved oil and gas properties, at cost $ 533,097 $ 527,729 Less: Accumulated depletion and depreciation (336,249 ) (322,409 ) Oil and Gas Properties, Net $ 196,848 $ 205,320 Field and office equipment $ 28,120 $ 27,542 Less: Accumulated depreciation (21,513 ) (20,762 ) Field and Office Equipment, Net $ 6,607 $ 6,780 Total Property and Equipment, Net $ 203,455 $ 212,100

Other Long-Term Obligations a_2

Other Long-Term Obligations and Commitments (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 is as follows: (Thousands of dollars) Operating Financing 2021 $ 106 $ 2 2020 309 4 Total undiscounted lease payments $ 415 $ 6 Less: Amount associated with discounting (35 ) (1 ) Net operating lease liabilities $ 380 $ 5
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, 2020 is as follows: (Thousands of dollars) June 30, Asset retirement obligation at December 31, 2019 $ 21,118 Liabilities settled (1,053 ) Accretion expense 502 Asset retirement obligation at June 30, 2020 $ 20,567

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 and December 31, 2019: June 30, 2020 Quoted Prices in Significant Significant Balance at 2020 (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 649 $ 649 Total assets — $ — $ 649 $ 649 Liabilities Commodity derivative contracts $ — $ — $ (189 ) $ (189 ) Total liabilities $ — $ — $ (189 ) $ (189 ) December 31, 2019 Quoted Prices in Significant Significant Balance at (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 272 $ 272 Total assets $ — $ — $ 272 $ 272 Liabilities Commodity derivative contract $ — $ — $ (753 ) $ (753 ) Total liabilities $ — $ — $ (753 ) $ (753 )
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 period ended June 30, 2020. (Thousands of dollars) Net Liability– December 31, 2019 $ (481 ) Total realized and unrealized (gains) losses: Included in earnings (a) 6,895 Purchases, sales, issuances and settlements (5,954 ) Net Asset June 30, 2020 $ 460
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, 2020 and December 31, 2019: 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 $ 334 $ 146 Crude oil commodity contracts Derivative asset short-term 315 126 Total $ 649 $ 272 Liability Derivatives: Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term $ (69 ) $ (715 ) Natural gas commodity contracts Derivative liability short-term (72 ) (38 ) Natural gas commodity contracts Derivative liability long-term (48 ) Total $ (189 ) $ (753 ) Total derivative instruments $ 460 $ (481 )
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-months Location of gain (loss) recognized in income Amount of gain/ (Thousands of dollars) 2020 2019 Derivatives not designated as cash-flow hedge instruments: Natural gas commodity contracts Unrealized gain (loss) on derivative instruments, net $ 87 $ 151 Crude oil commodity contracts Unrealized gain (loss) on derivative instruments, net 854 (3,101 ) Natural gas liquids contracts Unrealized (loss) on derivative instruments, net — 60 Natural gas commodity contracts Realized gain (loss) on derivative instruments, net 409 (8 ) Crude oil commodity contracts Realized gain on derivative 5,545 (876 ) Natural gas liquids contracts Realized gain on derivative — 111 $ 6,895 $ (3,663 )

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 Net Loss Weighted Per Share Net Loss Weighted Per Share Basic $ (6,436 ) 1,994,675 $ (3.23 ) $ 2,737 2,031,569 $ 1.35 Effect of dilutive securities: Options (a) — — — 761,169 Diluted $ (6,436 ) 1,994,675 $ (3.23 ) $ 2,737 2,792,738 $ 0.98 Three Months Ended June 30, 2020 2019 Net Loss Weighted Per Share Net Loss Weighted Per Share Basic $ (6,266 ) 1,994,177 $ (3.14 ) $ 5,775 2,026,119 $ 2.85 Effect of dilutive securities: Options (a) — — — 761,583 Diluted $ (6,266 ) 1,994,177 $ (3.14 ) $ 5,775 2,787,702 $ 2.07

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) $ in Thousands	Aug. 01, 2020USD ($)a	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Business Acquisition [Line Items]
Purchase of non-controlling interests		$ 0	$ 256
Proceeds from sale of property and equipment		$ 194	$ 1,693
West Texas [Member] | Mineral Acreage [Member] | Scenario, Forecast [Member]
Business Acquisition [Line Items]
Number Of Gross Mineral Acres Sold | a	2,000
Proceeds From Sale Of Noncore Acreage And Properties	$ 10,000
West Virginia [Member] | Mineral Acreage [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Proceeds from sale of property and equipment	$ 200
Number Of Gross Mineral Acres Sold | a	31,000

Additional Balance Sheet Info_3

Additional Balance Sheet Information - Components of Balance Sheet Amounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts Receivable:
Joint interest billing	$ 1,306	$ 3,339
Trade receivables	555	2,246
Oil and gas sales	3,141	7,284
Tax refund receivable	3,440	1,720
Other	993	189
Accounts Receivable, Gross	9,435	14,778
Less: Allowance for doubtful accounts	(418)	(418)
Total	9,017	14,360
Accounts Payable:
Trade	2,923	261
Royalty and other owners	3,889	4,227
Partner advances	853	1,024
Other	1,095	1,122
Total	8,760	6,634
Accrued Liabilities:
Compensation and related expenses	2,609	3,620
Property costs	1,331	2,829
Other		387
Total	$ 3,940	$ 6,836

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Proved oil and gas properties, at cost	$ 533,097	$ 527,729
Less: Accumulated depletion and depreciation	(336,249)	(322,409)
Oil and Gas Properties, Net	196,848	205,320
Field and office equipment	28,120	27,542
Less: Accumulated depreciation	(21,513)	(20,762)
Field and Office Equipment, Net	6,607	6,780
Total Property and Equipment, Net	$ 203,455	$ 212,100

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	May 31, 2020	Dec. 31, 2017	Jun. 30, 2020	Dec. 18, 2019	Jun. 30, 2019	Jun. 26, 2019	Jan. 08, 2019	Jul. 17, 2018	Dec. 22, 2017	Feb. 15, 2017
Debt Instrument [Line Items]
Outstanding borrowings under revolving credit facility			$ 53,500
Weighted-average interest rate of borrowings			3.23%
Credit facility remaining borrowing capacity			$ 18,500
Loan Under Paycheck Protection Programme [Member] | Eastern Oilwells Service Corporation [Member]
Debt Instrument [Line Items]
Proceeds from scheme based loan	$ 470
Loan Under Paycheck Protection Programme [Member] | Prime Operating Company And Eastern Oilwells Company [Member]
Debt Instrument [Line Items]
Moratorium period of term loan	24 months
Long term debt stated rate of interest	1.00%
Loan Under Paycheck Protection Programme [Member] | Prime Operating Company And Eastern Oilwells Company [Member] | Possible Forgiveness Of Loan [Member]
Debt Instrument [Line Items]
Period Of Forgiveness Of Term Loan	10 months
Loan Under Paycheck Protection Programme [Member] | Prime Operating Company [Member]
Debt Instrument [Line Items]
Proceeds from scheme based loan	$ 1,280
Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility borrowing base				$ 72,000		$ 90,000	$ 100,000
2017 Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility borrowing capacity										$ 300,000
Credit agreement date		Feb. 15, 2017
Credit facility borrowing base									$ 85,000
Line of Credit Facility, Expiration Date		Feb. 15, 2021
Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility borrowing base								$ 90,000
Base Rate And Libor [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument basis weighted average interest rate spread on variable rate			4.22%		5.53%

Other Long-Term Obligations a_3

Other Long-Term Obligations and Commitments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Lease period description	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.
Weighted-average discount rate	5.50%
Operating lease weighted-average remaining lease term	7 months
Finance lease remaining lease term	10 months
Finance lease amortization and interest expense	$ 3,632
Operating lease payments	307,000
Operating lease cost	290,000
Finance lease payments	3,828
Lease payments with in one year				$ 461,000
Lease payments due next year			$ 89,000
Operating leases, rent expense	$ 331,000	$ 315,000

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, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 106
2020	309
Total undiscounted lease payments	415
Less: Amount associated with discounting	(35)
Net operating lease liabilities	380
2021	2
2020	4
Total undiscounted lease payments	6
Less: Amount associated with discounting	(1)
Net operating lease liabilities	$ 5

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, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Asset retirement obligation	$ 21,118
Liabilities settled	(1,053)
Accretion expense	502
Asset retirement obligation	$ 20,567

Stock Options and Other Compe_2

Stock Options and Other Compensation - Additional Information (Detail)	Mar. 31, 2020$ / sharesshares	Mar. 31, 2019$ / sharesshares	Mar. 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, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 0	$ 256,000
Partnership And Trust [Member]
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 0	$ 256,000

Financial Instruments - Schedul

Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Derivative assets	$ 649	$ 272
Liabilities
Derivative liabilities	(189)	(753)
Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	649	272
Liabilities
Derivative liabilities	(189)	(753)
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	649	272
Liabilities
Derivative liabilities	(189)	(753)
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	649	272
Liabilities
Derivative liabilities	(189)	(753)
Significant Unobservable Inputs (Level 3) [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	649	272
Liabilities
Derivative liabilities	$ (189)	$ (753)

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, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Liability at beginning of period	$ (481)
Total realized and unrealized (gains) losses:
Included in earnings	6,895
Purchases, sales, issuances and settlements	(5,954)
Net Assets at end of period	$ 460

Financial Instruments - Effect

Financial Instruments - Effect of Derivative Instruments on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Derivative assets	$ 649	$ 272
Derivative liabilities	(189)	(753)
Total derivative instruments	460	(481)
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	334	146
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	(72)	(38)
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	(48)
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	315	126
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	$ (69)	$ (715)

Financial Instruments - Effec_2

Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	$ 6,895	$ (3,663)
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	87	151
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Realized gain on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	409	(8)
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	854	(3,101)
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	$ 5,545	(876)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Liquid Contracts [Member] | Unrealized loss on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income		60
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

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative notional amount	$ 0	$ 0

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net (Loss) Income, Basic	$ (6,266)	$ 5,775	$ (6,436)	$ 2,737
Net (Loss) Income, Diluted	$ (6,266)	$ 5,775	$ (6,436)	$ 2,737
Weighted Average Number of Shares Outstanding, Basic	1,994,177	2,026,119	1,994,675	2,031,569
Weighted Average Number of Shares Outstanding, Options	0	761,583	0	761,169
Weighted Average Number of Shares Outstanding, Diluted	1,994,177	2,787,702	1,994,675	2,792,738
Per Share Amount, Basic	$ (3.14)	$ 2.85	$ (3.23)	$ 1.35
Per Share Amount, Diluted	$ (3.14)	$ 2.07	$ (3.23)	$ 0.98

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	767,500	767,500