PrimeEnergy Resources (PNRG) 10-K 23 Apr 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Apr. 23, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
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 Voluntary Filers	No
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Public Float			$ 40,188,536
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
Entity Well-known Seasoned Issuer	No

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 996	$ 1,015
Accounts receivable, net	7,221	14,360
Prepaid obligations	590	625
Derivative asset short-term		272
Other current assets	104	127
Total Current Assets	8,911	16,399
Property and Equipment
Oil and gas properties at cost	520,488	527,729
Less: Accumulated depletion and depreciation	(335,390)	(322,409)
Oil and gas properties, net	185,098	205,320
Field and office equipment at cost	26,797	27,542
Less: Accumulated depreciation	(20,842)	(20,762)
Field and office equipment, net	5,955	6,780
Total Property and Equipment, Net	191,053	212,100
Derivative asset long-term and other assets	520	866
Total Assets	200,484	229,365
Current Liabilities
Accounts payable	5,217	6,634
Accrued liabilities	6,787	6,836
Due to Related Parties	38
Current portion of long-term debt	487
Current portion of asset retirement and other long-term obligations	868	1,369
Derivative liability short-term	723	753
Total Current Liabilities	14,120	15,592
Long-Term Bank Debt	38,267	53,500
Asset Retirement Obligations	12,891	20,330
Deferred Income Taxes	36,367	35,924
Other Long-Term Obligations	841	656
Total Liabilities	102,486	126,002
Equity
Common stock, $.10 par value; 2020 and 2019: Authorized: 2,810,000 shares, outstanding 2020: 1,994,177 shares; outstanding 2019: 1,998,978 shares.	281	281
Paid-in capital	7,541	7,505
Retained earnings	126,804	129,120
Treasury stock, at cost; 2020: 815,823 shares; 2019: 811,022 shares	(37,502)	(36,792)
Total Stockholders' Equity – PrimeEnergy	97,124	100,114
Non-controlling interest	874	3,249
Total Equity	97,998	103,363
Total Liabilities and Equity	$ 200,484	$ 229,365

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Dec. 31, 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

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues
Realized gain (loss) on derivative instruments, net	$ 6,173	$ (1,371)
Unrealized (loss) on derivative instruments	(190)	(2,777)
Other income	182	84
Total Revenues	58,421	104,824
Costs and Expenses
Lease operating expense	23,028	33,461
Field service expense	9,006	15,446
Depreciation, depletion, amortization and accretion on discounted liabilities	28,176	36,156
General and administrative expense	15,027	15,639
Total Costs and Expenses	75,237	100,702
Gain on Sale and Exchange of Assets	15,836	4,574
(Loss) Income from Operations	(980)	8,696
Other Income and Expenses
Less: Interest expense	1,902	3,635
Add: Interest income	2	19
(Loss) Income Before (Benefit from) Provision for Income Taxes	(2,880)	5,080
(Benefit from) Provision for Income Taxes	(517)	1,421
Net (Loss) Income	(2,363)	3,659
Less: Net (Loss) Income Attributable to Non-Controlling Interest	(47)	183
Net (Loss) Income Attributable to PrimeEnergy	$ (2,316)	$ 3,476
Basic (Loss) Income Per Common Share	$ (1.16)	$ 1.72
Diluted (Loss) Income Per Common Share	$ (1.16)	$ 1.25
Oil sales [Member]
Revenues
Oil, gas and service income	$ 27,865	$ 68,366
Natural gas sales [Member]
Revenues
Oil, gas and service income	4,202	6,539
Natural gas liquids sales [Member]
Revenues
Oil, gas and service income	4,906	9,110
Oil and gas service [Member]
Costs and Expenses
Field service expense	11,120	19,214
Administrative Service [Member]
Revenues
Oil, gas and service income	$ 4,163	$ 5,659

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid in capital	Retained Earnings [Member]	Treasury Stock [Member]	Total Stockholders' Equity – PrimeEnergy [Member]	Non-Controlling Interest [Member]	Shares Outstanding [Member]
Balance at Dec. 31, 2018	$ 106,003,000	$ 281,000	$ 7,388,000	$ 125,644,000	$ (31,304,000)	$ 102,009,000	$ 3,994,000
Balance, shares at Dec. 31, 2018								2,039,919
Repurchase shares of common stock	(5,488,000)				(5,488,000)	(5,488,000)		$ (40,941)
Net income (loss)	3,659,000			3,476,000		3,476,000	183,000
Purchase of Non- controlling Interest	(499,000)		117,000			117,000	(616,000)
Distributions to non-controlling interest	(312,000)						(312,000)
Balance at Dec. 31, 2019	$ 103,363,000	281,000	7,505,000	129,120,000	(36,792,000)	100,114,000	3,249,000
Balance, shares at Dec. 31, 2019	2,810,000							1,998,978
Repurchase shares of common stock	$ (710,000)				(710,000)	(710,000)		$ (4,801)
Net income (loss)	(2,363,000)			(2,316,000)		(2,316,000)	(47,000)
Purchase of Non- controlling Interest	(22,000)		36,000			36,000	(58,000)
Distributions to non-controlling interest	(2,270,000)
Balance at Dec. 31, 2020	$ 97,998,000	$ 281,000	$ 7,541,000	$ 126,804,000	$ (37,502,000)	$ 97,124,000	$ 874,000
Balance, shares at Dec. 31, 2020	2,810,000							1,994,177

CONSOLIDATED STATEMENT OF EQU_2

CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Treasury Stock [Member]
Repurchase of common stock, shares	4,801	40,941
Total Stockholders' Equity – PrimeEnergy [Member]
Repurchase of common stock, shares	4,801	40,941

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities:
Net (Loss) Income	$ (2,363)	$ 3,659
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion on discounted liabilities	28,176	36,156
Gain on sale of properties	(15,836)	(4,574)
Unrealized loss (gain) on derivative instruments	190	2,777
Provision for deferred income taxes	443	3,096
Changes in assets and liabilities:
Accounts receivable	7,139	601
Due to related parties	38	(5)
Prepaid expenses and other assets	58	15
Accounts payable	(1,417)	(2,919)
Accrued liabilities	(49)	(11,595)
Net Cash Provided by Operating Activities	16,379	27,211
Cash Flows from Investing Activities:
Capital expenditures, including exploration expense	(10,523)	(18,046)
Proceeds from sale of properties and equipment	10,862	4,579
Net Cash (Used in) provided by Investing Activities	339	(13,467)
Cash Flows from Financing Activities:
Purchase of stock for treasury	(710)	(5,488)
Purchase of non-controlling interests	(742)	(499)
Increase in long-term bank debt and other long-term obligations	6,755	25,000
Repayment of long-term bank debt and other long-term obligations	(21,983)	(37,745)
Distribution to non-controlling interest	(57)	(312)
Net Cash (used in) provided by Financing Activities	(16,737)	(19,044)
Cash and Cash Equivalents Period Decrease	(19)	(5,300)
Cash and Cash Equivalents at the Beginning of the Year	1,015	6,315
Cash and Cash Equivalents at the End of the Year	996	1,015
Supplemental Disclosures:
Income taxes paid during the year	1	65
Interest paid during the year	2,052	3,659
Purchase of non-controlling interest	36	$ 111
Distribution of non-controlling interest in liquidated partnerships	$ 1,550

Description of Operations and S

Description of Operations and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Operations and Significant Accounting Policies	1. Description of Operations and Significant Accounting Policies Nature of Operations: PrimeEnergy Resources Corporation (“PERC”), a Delaware corporation, was organized in March 1973 and is engaged in the development, acquisition and production of oil and natural gas properties. PrimeEnergy Resources Corporation and its subsidiaries are herein referred to as the “Company.” The Company owns leasehold, mineral and royalty interests in producing and non-producing non-operating additional wells. Additionally, the Company provides well-servicing support operations, site-preparation and construction services for oil and gas drilling and reworking operations, both in connection with the Company’s activities and providing contract services for third parties. The Company is publicly traded on the NASDAQ under the symbol “PNRG.” PERC owns Eastern Oil Well Service Company (“EOWSC”) and EOWS Midland Company (“EMID”) which perform oil and gas field servicing. PERC also owns Prime Operating Company (“POC”), which serves as operator for most of the producing oil and gas properties owned by the Company and affiliated entities. PrimeEnergy Management Corporation (“PEMC”), a wholly-owned subsidiary, acts as the managing general partner, providing administration, accounting and tax preparation services for 1 limited partnership and 1 trust (collectively, the “Partnerships”). The markets for the Company’s products are highly competitive, as oil and gas are commodity products and prices depend upon numerous factors beyond the control of the Company, such as economic, political and regulatory developments and competition from alternative energy sources. Effects of Coronavirus on Business: On March 11, 2020, the World Health Organization declared the outbreak of the Coronavirus (“COVID-19”), COVID-19 The oversupply in the oil markets and related price volatility, depending on its duration may have an adverse impact on cash flows from operations and the valuation of capitalized costs related to oil and gas producing activities. The full extent to which COVID-19 Consolidation and Presentation: The consolidated financial statements include the accounts of PrimeEnergy Resources Corporation, its subsidiaries and the Partnerships, using the full consolidation method for those partnerships which are controlled by the Company. The Company’s reserve estimates are based on the full consolidation method. DD&A expense and evaluation of impairment may differ from the Partnership as the Company’s cost basis for the Partnership interests acquired may be different than the cost basis at the Partnership level for properties acquired by the Partnership. All significant intercompany balances and transactions are eliminated in preparing the consolidated financial statements. Reclassifications: Certain reclassifications have been made to prior year statements to conform with the current year presentation. These reclassifications have no impact on net income and no material impact on any other financial statement captions. Subsequent Events: Subsequent events have been evaluated through the date that the consolidated financial statements were issued. During this period, there were no material subsequent items requiring disclosure other than as stated in footnote 4 to these financial statements. Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates of oil and gas reserves, as determined by independent petroleum engineers, are continually subject to revision based on price, production history and other factors. Depletion expense, which is computed based on the units of production method, could be significantly impacted by changes in such estimates. Additionally, U.S. generally accepted accounting principles require that if the expected future undiscounted cash flows from an asset are less than its carrying cost, that asset must be written down to its fair market value. As the fair market value of an oil and gas property will usually be significantly less than the total undiscounted future net revenues expected from that asset, slight changes in the estimates used to determine future net revenues from an asset could lead to the necessity of recording a significant impairment of that asset. Property and Equipment: The Company follows the “successful efforts” method of accounting for its oil and gas properties. Under the successful efforts method, costs of acquiring undeveloped oil and gas leasehold acreage, including lease bonuses, brokers’ fees and other related costs are capitalized. Provisions for impairment of undeveloped oil and gas leases are based on periodic evaluations. Annual lease rentals and exploration expenses, including geological and geophysical expenses and exploratory dry hole costs, are charged against income as incurred. Costs of drilling and equipping productive wells, including development dry holes and related production facilities, are capitalized. All other property and equipment are carried at cost. Depreciation and depletion of oil and gas production equipment and properties are determined under the unit-of-production Capitalization of Interest: Interest costs related to financing major oil and gas projects in progress are capitalized until the projects are evaluated or until the projects are substantially complete and ready for their intended use if the projects are evaluated and successful. Impairment of Long-Lived Assets: The Company reviews long-lived assets, including oil and gas properties, for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recovered. If the carrying amounts are not expected to be recovered by undiscounted cash flows, the assets are impaired, and an impairment loss is recorded. The amount of impairment is based on the estimated fair value of the assets determined by discounting anticipated future net cash flows. Fair Value: The Company follows the authoritative guidance that establishes a formal framework for measuring fair values of assets and liabilities in financial statements that are already required by U.S. generally accepted accounting principles to be measured at fair value. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The transaction is based on a hypothetical transaction in the principal or most advantageous market considered from the perspective of the market participant that holds the asset or owes the liability. The Company utilizes market data or assumptions that market participants who are independent, knowledgeable and willing and able to transact would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable. The Company attempts to utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. The Company is able to classify fair value balances based on the observability of those inputs. The guidance establishes a formal fair value hierarchy based on the inputs used to measure fair value. The hierarchy gives the highest priority to Level 1 inputs, which consist of unadjusted quoted prices for identical instruments in active markets. Level 2 inputs consist of quoted prices for similar instruments. Level 3 valuations are derived from inputs that are significant and unobservable; hence, these valuations have the lowest priority. Asset Retirement Obligation: The asset retirement obligation primarily represents the estimated present value of the amount the Company will incur to plug, abandon and remediate producing properties at the end of their productive lives, in accordance with applicable state laws. The Company determined its asset retirement obligation by calculating the present value of estimated cash flows related to the liability. The asset retirement obligation is recorded as a liability at its estimated present value at its inception, with an offsetting increase to producing properties. Periodic accretion of discount of the estimated liability is recorded as an expense in the statement of operations. Income Taxes: The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recorded for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the tax rate in effect for the year in which those temporary differences are expected to turn around. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the year of the enacted rate change. A valuation allowance is established to reduce deferred tax assets if it is more likely than not that the related tax benefits will not be realized. As of December 31, 2020 , The Company is required to make judgments, including estimating reserves for potential adverse outcomes regarding tax positions that the Company has taken. The Company accounts for uncertainty in income taxes using a recognition and measurement threshold for tax positions taken or expected to be taken in a tax return. The effective tax rate and the tax basis of assets and liabilities reflect management’s estimates of the ultimate outcome of various tax uncertainties. General and Administrative Expenses: General and administrative expenses represent cost and expenses associated with the operation of the Company. Earnings Per Common 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. Statements of Cash Flows: For purposes of the consolidated statements of cash flows, the Company considers short-term, highly liquid investments with original maturities of less than ninety days to be cash equivalents. Concentration of Credit Risk: The Company maintains significant banking relationships with financial institutions in the State of Texas. The Company limits its risk by periodically evaluating the relative credit standing of these financial institutions. The Company’s oil and gas production purchasers consist primarily of independent marketers and major gas pipeline companies. Hedging: The Company periodically enters into oil and gas financial instruments to manage its exposure to oil and gas price volatility. The oil and gas reference prices upon which the price hedging instruments are based reflect various market indices that have a high degree of historical correlation with actual prices received by the Company. The financial instruments are accounted for in accordance with applicable accounting standards for derivative instruments and hedging activities. Such standards require that applicable derivative instruments be measured at fair market value and recognized as assets or liabilities in the balance sheet. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation is generally established at the inception of a derivative. For derivatives designated as cash flow hedges and meeting applicable effectiveness guidelines, changes in fair value, to the extent effective, are recognized in other comprehensive income until the hedged item is recognized in earnings . New Pronouncements Issued But Not Yet Adopted: In October 2020, the FASB issued ASU 2020-10, In March 2020, the FASB issued ASU 2020-04, 2021-01,

Acquisitions and Dispositions

Acquisitions and Dispositions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions and Dispositions	2. Acquisitions and Dispositions Historically, the Company has repurchased the non-controlling interests of the partners and trust unit holders in certain of the Partnerships, which consist primarily of oil and gas interests. The Company purchased such non-controlling interests in an amount totaling in 2019. Such purchases resulted in the non-cash acquisition of non-controlling equity interests of $36,000 and $111,000 respectively. In 2020 the Company liquidated three partnerships for total cash payments of $720,000 resulting in the non-cash distribution of non-controlling interest of $1,550 million. During 2020 the Company acquired 232 net acres, along with 15% to 16.6% working interest ownership in 53 oil and gas wells and one commercial salt water disposal well operated by the Company, all located in Reagan County, Texas, f or $ . In addition, we acquired 9.36 net acre in Upton County, Texas at a cost of $5,100 . During 2020 and 2019 the Company sold or farmed out interests in certain non-core approximately $10.9 million and $ million, respectively.

Additional Balance Sheet Inform

Additional Balance Sheet Information	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet Information	3. Additional Balance Sheet Information Accounts receivable at December 31, 2020 and 2019 consisted of the following: December 31, (Thousands of dollars) 2020 2019 Joint interest billings $ 2,475 $ 3,339 Trade receivables 1,073 2,246 Oil and gas sales 3,469 7,284 Tax refund receivable — 1,720 Other 802 189 7,819 14,778 Less: Allowance for doubtful accounts (598 ) (418 ) Total $ 7,221 $ 14,360 Accounts payable at December 31, 2020 and 2019 consisted of the following: December 31, (Thousands of dollars) 2020 2019 Trade $ 876 $ 261 Royalty and other owners 3,569 5,251 Partner advances 193 205 Other 579 917 Total $ 5,217 $ 6,634 Accrued liabilities at December 31, 2020 and 2019 consisted of the following: December 31, (Thousands of dollars) 2020 2019 Compensation and related expenses $ 3,331 $ 3,620 Property costs 2,056 2,829 Taxes 1,016 — Other 384 387 Total $ 6,787 $ 6,836

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	4. 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 2017 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 2017 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 2017 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. On May 8, 2020, the Company and its lenders entered into a Fourth Amendment to the 2017 Credit Agreement which added loans under the Paycheck Protection Program to the Permitted loans, as defined in the agreement. On September 4, 2020, the Company and its lenders entered into a Fifth Amendment to the 2017 Credit Agreement. As of the effective date of this amendment the Company’s borrowing base was decreased to $50 million. The amendment included an automatic reduction of $666,666.67 to the borrowing base on October 1, 2020, November 1, 2020, and December 1, 2020. The amendment also revised the applicable borrowing base utilization percentages for Eurodollar and ABR loans with a range of 2.5% to 3.5% and 1.5% to 2.5%, respectively. The agreement also adjusted percentages of title and mortgage guarantees supported by the oil and gas properties presented to the administrative agent at each borrowing redetermination as supported by the required reserve report. On December 31, 2020, the Company had a total of $37 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 4.00% and $11 million was available for future borrowings. The combined weighted average interest rate paid on outstanding bank borrowings subject to base rate and LIBO interest was 3.95% for the year ended December 31, 2020 as compared to 5.34% for year ended December 31, 2019. On February 11, 2021, the Company and its lenders entered into a Sixth Amendment to the 2017 Credit Agreement. Under this amendment the Company’s borrowing base is $40 million. Borrowings under the 2017 Credit Agreement will bear interest at a base rate plus an applicable margin ranging from 2.00% to 3.00% or at the Company’s option, at LIBOR plus an applicable margin ranging from 3.00% to 4.00%. The 2017 Credit Agreement will mature on February 11, 2023. 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 Paycheck Protection Program (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. The Company utilized the PPP Loan proceeds exclusively for Qualifying Expenses during the 24-week 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 on the balance sheet as financial liabilities reported within the following lines: Current portion of long-term debt in the amount of $487 thousand and included as part of the long-term bank debt in the amount of $1.267 million. 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 were paid in full and the field service equipment liens secured by these loans were cancelled and all titles returned to the Company.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments	5. 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 finance lease for office equipment is included in property and equipment, other current liabilities and other long-term liabilities. right-of-use Operating lease costs for the twelve months ended December 31, 2020 were $574 thousand. Cash payments included in the operating lease cost for twelve months ended December 31, 2020 were $616 thousand. The weighted-average remaining operating lease terms is 2.5 months. The amortization and interest expense for financing lease amounted to $7,165 and the cash payment for the lease was $7,655 and the lease term remaining was for 4 months. The payment schedule for the Company’s operating and financing lease obligations as of December 31, 2020 is as follows: (Thousands of dollars) Operating Leases Financing Leases 2021 $ 106 $ 2 Total undiscounted lease payments $ 106 $ 2 Less: Amount associated with discounting (10 ) (0 ) Net operating lease liabilities $ 96 $ 2 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 years ended December 31, 2020 and 2019 was $663,000 and $594,000, respectively. Asset Retirement Obligation: A reconciliation of the liability for plugging and abandonment costs for the years ended December 31, 2020 and 2019 is as follows: Year Ended December 31, (Thousands of dollars) 2020 2019 Asset retirement obligation at beginning of period $ 21,118 $ 21,334 Liabilities incurred 4 4 Liabilities settled (1,286 ) (1,442 ) Liabilities divested (5,731 ) — Accretion expense 856 1,120 Revisions in estimated liabilities (1,301 ) 102 Asset retirement obligation at end of period $ 13,660 $ 21,118 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	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	6. 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	12 Months Ended
	Dec. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options and Other Compensation	7. Stock Options and Other Compensation In May 1989, non-statutory 20 19

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The components of the provision (benefit) for income taxes for the years ended December 31, 2020 and 2019 are as follows: Year Ended December 31, (Thousands of dollars) 2020 2019 Current: Federal $ 950 $ (1,798 ) State 80 123 Total current 1,030 (1,675 ) Deferred: Federal (1,491 ) 3,536 Year Ended December 31, (Thousands of dollars) 2020 2019 State (56 ) (440 ) Total deferred (1,547 ) 3,096 Total income tax provision $ (517 ) $ 1,421 At December 31, (Thousands of dollars) 2020 2019 Deferred Tax Assets: Accrued liabilities $ (584 ) $ 614 Allowance for doubtful accounts 136 95 Derivative Contracts 153 110 Alternative minimum tax credits — 1,720 State Net operating loss carry-forwards 760 821 Total deferred tax assets 465 3,360 Deferred Tax Liabilities: Basis differences relating to managed partnerships 544 2,109 Depletion and depreciation 36,288 37,173 Total deferred tax liabilities 39,832 39,282 Net deferred tax liabilities $ 36,367 $ 35,922 The total provision for income taxes for the years ended December 31, 2020 and 2019 varies from the federal statutory tax rate as a result of the following: Year Ended December 31, (Thousands of dollars) 2020 2019 Expected tax expense $ (595 ) $ 1,028 Executive Compensation 703 597 State income tax, net of federal benefit 63 (303 ) Percentage depletion (182 ) (341 ) AMT and Marginal Well Credits (502 ) 436 Other, net (4 ) 4 Total income tax provision (benefit) $ (517 ) $ 1,421 Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes. On December 22, 2017, the U.S. enacted into legislation the Tax Cuts and Jobs Act (2017 Tax Act). Under the 2017 Tax Act, the company may use alternative minimum tax (AMT) credits to fully offset any regular tax liability. In addition, a portion of the AMT credit which exceeds the regular tax liability is refundable in future years. The refundable portion was 50% of any excess credit in the years 2019 through 2020 and 100% in 2021. The Company expected to receive a refund of $1.720 million in 2020 based on refundable credits claimed on the 2019 return, and additional $1.720 million refunds of previously paid taxes on its tax returns for the years 2020 and 2021. On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer social security payments, net operating loss carryback periods, AMT credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. Under the CARES Act the refundable portion of AMT credits was increased to 100% therefore the Company received a full refund of such credits in 2020. The Company is entitled to percentage depletion on certain of its wells, which is calculated without reference to the basis of the property. To the extent that such depletion exceeds a property’s basis, it creates a permanent difference, which lowers the Company’s effective rate. The availability of the percentage depletion deduction is phased out as an entity’s production exceeds certain levels, and based on the Company’s increasing production the percentage depletion deduction is becoming less significant. The Company is allowed a credit against the Texas Franchise Tax based on net operating losses incurred in prior periods. The credits allowed are $89 thousand in the years 2020 through 2026. Any credits not utilized in a given year due to the allowable credit exceeding the tax liability may be carried forward. No credit may be carried forward past 2026. The value of the credit is calculated net of the federal income tax effect. The Company has not recorded any provision for uncertain tax positions. The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. The 2004, 2005, 2006, 2009 and 2017 federal income tax returns have been audited by the Internal Revenue Service. Returns for unexamined earlier years may be examined and adjustments made to the amount of percentage depletion and AMT credit carryforwards flowing from those years into an open tax year, although in general no assessment of income tax may be made for those years on which the statute has closed. State returns for the years 2018 through 2020 remain open for examination by the relevant taxing authorities

Segment Information and Major C

Segment Information and Major Customers	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information and Major Customers	9. Segment Information and Major Customers The Company operates in one industry – oil and gas exploration, development, operation and servicing. The Company’s oil and gas activities are entirely in the United States. The Company sells its oil and natural gas and liquids production to a number of direct purchasers under direct contracts or through other operators under joint operating agreements. Listed below are the purchasers of the Company’s production which represented more than 10% of the Company’s sales in the year 20 20 Oil: Apache Corporation 47 % Plains All American Inc. 19 % Natural gas and liquids: Apache Corporation 42 % Targa Pipeline Mid-Continent 12 % Although there are no long-term oil and gas purchasing agreements with these purchasers, the Company believes that they will continue to purchase its oil and gas products and, if not, could be replaced by other purchasers.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 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 Company’s interest rate swaps, natural gas and crude oil price collars and 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 December 31, 2020 and December 31, 2019:​​​​​​​ December 31, 2020 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2020 (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 97 $ 97 Total assets $ — $ — $ 97 $ 97 Liabilities Commodity derivative contracts $ — $ — $ (768 ) $ (768 ) Total liabilities $ — $ — $ (768 ) $ (768 ) December 31, 2019 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2019 (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 and crude oil, 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 increasee (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 year ended December 2020. (Thousands of dollars) Net Liabilities – December 31, 2019 $ (481 ) Total realized and unrealized (gains) losses: Included in earnings (a) 5,983 Purchases, sales, issuances and settlements (6,173 ) Net Liabilities — December 31, 2020 $ (671 ) (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. The following table sets forth the effect of derivative instruments on the consolidated balance sheets at December 31, 2020 and 2019: Fair Value (Thousands of dollars) Balance Sheet Location December 31, 2020 December 31, 2019 Asset Derivatives: Derivatives not designated as cash-flow hedging instruments: Natural gas commodity contracts Derivative asset short-term $ — $ 146 Natural gas liquid contracts Derivative asset short-term — — Crude oil commodity contracts Derivative asset short-term — 126 Natural gas commodity contracts Derivative asset long-term and other assets 97 — Crude oil commodity contracts Derivative asset short-term and other assets — — Total $ 97 $ 272 Liability Derivatives: Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term $ (428 ) $ (715 ) Natural gas commodity contracts Derivative liability short-term (296 ) (38 ) Natural gas liquid contracts Derivative liability short-term — — Natural gas commodity contracts Derivative liability long-term (44 ) — Total $ (768 ) $ (753 ) Total derivative instruments $ (671 ) $ (481 ) The following table sets forth the effect of derivative instruments on the consolidated statements of operations for the years ended December 31, 2020 and 2019: Location of gain/loss recognized in income Amount of gain/loss recognized in income (Thousands of dollars) 2020 2019 Derivatives not designated as cash-flow hedge instruments: Natural gas commodity contracts Unrealized gain on derivative (351 ) 123 Crude oil commodity contracts Unrealized gain (loss) on 161 (2,776 ) Natural gas liquids contracts Unrealized (loss) on — (124 ) Natural gas commodity contracts Realized (loss) gain on 476 90 Crude oil commodity contracts Realized gain (loss) on 5,697 (1,814 ) $ 5,983 $ (4,148 )

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	11. 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 such interests in an amount totaling $742,000 during 2020 and $499,000 during 2019. 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, during a specific reporting year, for oil and gas sales net of expenses.

Salary Deferral Plan

Salary Deferral Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Salary Deferral Plan	12. Salary Deferral Plan The Company maintains a salary deferral plan (the “Plan”) in accordance with Internal Revenue Code Section 401(k), as amended. The Plan provides for matching contributions, of which $341,000 and $412,000 were made in 2020 and 2019, respectively.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings per Share	13. 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: Year Ended December 31, 2020 2019 Net Income (In 000’s) Weighte d Average Number of Shares Outstanding Per Share Net Income Weighted Per Share Basic $ (2,316 ) 1,994,425 $ (1.16 ) $ 3,476 2,019,502 $ 1.72 Effect of dilutive securities: Options — 761,233 Diluted $ (2,316 ) 1,994,425 $ (1.16 ) $ 3,476 2,780,735 $ 1.25 (a) The effect of the 767,000 outstanding stock options is antidilutive for the year ended December 31, 2020, due to net loss for this period.

Supplementary Information

Supplementary Information	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary Information	PRIMEENERGY RESOURCES CORPORATION AND SUBSIDIARIES SUPPLEMENTARY INFORMATION CAPITALIZED COSTS RELATING TO OIL AND GAS PRODUCING ACTIVITIES (Unaudited) As of December 31, (Thousands of dollars) 2020 2019 Proved Developed oil and gas properties $ 520,488 $ 527,729 Proved Undeveloped oil and gas properties — — Total Capitalized Costs 520,488 527,729 Accumulated depreciation, depletion and valuation allowance 335,390 322,409 Net Capitalized Costs $ 185,098 $ 205,320 COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION AND DEVELOPMENT ACTIVITIES (Unaudited) Year Ended December 31, (Thousands of dollars) 2020 2019 Development Costs $ 9,339 $ 15,348 STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES (Unaudited) As of December 31, (Thousands of dollars) 2020 2019 Future cash inflows $ 221,090 $ 423,839 Future production costs (100,691 ) (202,169 ) Future development costs (39,167 ) (62,379 ) Future income tax expenses (15,135 ) (29,678 ) Future Net Cash Flows 66,097 129,613 10% annual discount for estimated timing of cash flows (24,479 ) (48,001 ) Standardized Measure of Discounted Future Net Cash Flows $ 41,619 $ 81,612 See accompanying Notes to Supplementary Information STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS AND CHANGES THEREIN RELATING TO PROVED OIL AND GAS RESERVES (Unaudited) The following are the principal sources of change in the standardized measure of discounted future net cash flows during 2020 and 2019: Year Ended December 31, (Thousands of dollars) 2020 2019 Sales of oil and gas produced, net of production costs $ (13,945 ) $ (15,938 ) Net changes in prices and production costs (16,578 ) (42,409 ) Extensions, discoveries and improved recovery 314 31,276 Revisions of previous quantity estimates (36,919 ) (3,319 ) Net change in development costs 20,724 (53,143 ) Reserves sold (874 ) (113 ) Reserves purchased 218 174 Accretion of discount 8,161 13,791 Net change in income taxes 5,386 5,572 Changes in production rates (timing) and other (6,480 ) 7,812 Net change (39,993 ) (56,297 ) Standardized measure of discounted future net cash flow: Beginning of year 81,612 137,909 End of year $ 41,619 $ 81,612 See accompanying Notes to Supplementary Information PRIMEENERGY RESOURCES CORPORATION AND SUBSIDIARIES SUPPLEMENTARY INFORMATION RESERVE QUANTITY INFORMATION Years Ended December 31, 2020 and 2019 (Unaudited) As of December 31, 2020 2019 Oil NGL’s (MBbls) Gas (MMcf) Oil NGLs Gas Proved Developed Reserves: Beginning of year 4,381 2,914 19,995 6,404 2,707 21,065 Extensions, discoveries and improved recovery 11 7 36 471 264 1,330 Revisions of previous estimates (995 ) (239 ) (1,721 ) (1,260 ) 506 2,033 Converted from undeveloped reserves 25 5 66 7 7 65 Reserves sold (29 ) 0 (1,400 ) (5 ) — (120 ) Reserve purchased 24 8 38 6 4 19 Production (733 ) (437 ) (3,381 ) (1,242 ) (574 ) (4,397 ) End of year 2,684 2,258 13,633 4,381 2,914 19,995 Proved Undeveloped Reserves: Beginning of year 1,833 1,017 4,547 10 12 124 Extensions, discoveries and improved recovery 1,834 1,013 4,530 Revisions of previous estimates (24 ) (224 (584 ) (4 ) (1 ) (42 ) Converted to developed reserves (25 ) (5 ) (66 ) (7 ) (7 ) (65 ) End of year 1,784 787 3,897 1,833 1,017 4,457 Total Proved Reserves at the End of the Year 4,468 3,045 17,530 6,214 3,931 24,542 RESULTS OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES Years Ended December 31, 2020 and 2019 (Unaudited) Year Ended December 31, (Thousands of dollars) 2020 2019 Revenue: Oil and gas sales $ 36,973 $ 84,015 Costs and Expenses: Lease operating expenses 23,028 33,461 Depreciation, depletion and accretion 25,921 34,616 Income tax expense (2,515 ) 1,421 Total Costs and Expenses 46,434 69,498 Results of Operations from Producing Activities (excluding corporate overhead and interest costs) $ (9,461 ) $ 14,517 36,973, See accompanying Notes to Supplementary Information PRIMEENERGY RESOURCES CORPORATION AND SUBSIDIARIES NOTES TO SUPPLEMENTARY INFORMATION (Unaudited) 1. Presentation of Reserve Disclosure Information Reserve disclosure information is presented in accordance with U.S. generally accepted accounting principles. The Company’s reserves include amounts attributable to non-controlling 2. Determination of Proved Reserves The estimates of the Company’s proved reserves were determined by an independent petroleum engineer in accordance with U.S. generally accepted accounting principles. The estimates of proved reserves are inherently imprecise and are continually subject to revision based on production history, results of additional exploration and development and other factors. Estimated future net revenues were computed by reserves, less estimated future development and production costs based on current costs. Proved reserve quantity estimates are subject to numerous uncertainties inherent in the estimation of quantities of proved reserves and in the projection of future rates of production and the timing of development expenditures. The accuracy of such estimates is a function of the quality of available data and of engineering and geological interpretation and judgment. Results of subsequent drilling, testing and production may cause either upward or downward revision of previous estimates. Further, the volumes considered to be commercially recoverable fluctuate with changes in prices and operating costs. The Company emphasizes that proved reserve estimates are inherently imprecise and that estimates of new discoveries are more imprecise than those of currently producing oil and gas properties. Accordingly, these estimates are expected to change as additional information becomes available in the future. 3. Results of Operations from Oil and Gas Producing Activities The results of operations from oil and gas producing activities were prepared in accordance with U.S. generally accepted accounting principles. General and administrative expenses, interest costs and other unrelated costs are not deducted in computing results of operations from oil and gas activities. 4. Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Gas Reserves The standardized measure of discounted future net cash flows relating to proved oil and gas reserves and the changes of standardized measure of discounted future net cash flows relating to proved oil and gas reserves were prepared in accordance with U.S. generally accepted accounting principles. Future cash inflows are computed as described in Note 2 by applying current prices to year-end Future production and development costs are computed estimating the expenditures to be incurred in developing and producing the oil and gas reserves at year-end, year-end Future income tax expenses are calculated by applying the 2020 U.S. tax rate to future pre-tax Future net cash flows are discounted at a rate of 10% annually (pursuant to applicable guidance) to derive the standardized measure of discounted future net cash flows. This calculation does not necessarily represent an estimate of fair market value or the present value of such cash flows since future prices and costs can vary substantially from year-end 5. Changes in Reserves The 2020 and 2019 extensions and discoveries reflect the drilling activity in the Company’s West Texas and Mid-Continent

Description of Operations and_2

Description of Operations and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations: PrimeEnergy Resources Corporation (“PERC”), a Delaware corporation, was organized in March 1973 and is engaged in the development, acquisition and production of oil and natural gas properties. PrimeEnergy Resources Corporation and its subsidiaries are herein referred to as the “Company.” The Company owns leasehold, mineral and royalty interests in producing and non-producing non-operating additional wells. Additionally, the Company provides well-servicing support operations, site-preparation and construction services for oil and gas drilling and reworking operations, both in connection with the Company’s activities and providing contract services for third parties. The Company is publicly traded on the NASDAQ under the symbol “PNRG.” PERC owns Eastern Oil Well Service Company (“EOWSC”) and EOWS Midland Company (“EMID”) which perform oil and gas field servicing. PERC also owns Prime Operating Company (“POC”), which serves as operator for most of the producing oil and gas properties owned by the Company and affiliated entities. PrimeEnergy Management Corporation (“PEMC”), a wholly-owned subsidiary, acts as the managing general partner, providing administration, accounting and tax preparation services for 1 limited partnership and 1 trust (collectively, the “Partnerships”). The markets for the Company’s products are highly competitive, as oil and gas are commodity products and prices depend upon numerous factors beyond the control of the Company, such as economic, political and regulatory developments and competition from alternative energy sources.
Effects of Coronavirus on Business	Effects of Coronavirus on Business: On March 11, 2020, the World Health Organization declared the outbreak of the Coronavirus (“COVID-19”), COVID-19 The oversupply in the oil markets and related price volatility, depending on its duration may have an adverse impact on cash flows from operations and the valuation of capitalized costs related to oil and gas producing activities. The full extent to which COVID-19
Consolidation and Presentation	Consolidation and Presentation: The consolidated financial statements include the accounts of PrimeEnergy Resources Corporation, its subsidiaries and the Partnerships, using the full consolidation method for those partnerships which are controlled by the Company. The Company’s reserve estimates are based on the full consolidation method. DD&A expense and evaluation of impairment may differ from the Partnership as the Company’s cost basis for the Partnership interests acquired may be different than the cost basis at the Partnership level for properties acquired by the Partnership. All significant intercompany balances and transactions are eliminated in preparing the consolidated financial statements.
Reclassifications	Reclassifications: Certain reclassifications have been made to prior year statements to conform with the current year presentation. These reclassifications have no impact on net income and no material impact on any other financial statement captions.
Subsequent Events	Subsequent Events: Subsequent events have been evaluated through the date that the consolidated financial statements were issued. During this period, there were no material subsequent items requiring disclosure other than as stated in footnote 4 to these financial statements.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates of oil and gas reserves, as determined by independent petroleum engineers, are continually subject to revision based on price, production history and other factors. Depletion expense, which is computed based on the units of production method, could be significantly impacted by changes in such estimates. Additionally, U.S. generally accepted accounting principles require that if the expected future undiscounted cash flows from an asset are less than its carrying cost, that asset must be written down to its fair market value. As the fair market value of an oil and gas property will usually be significantly less than the total undiscounted future net revenues expected from that asset, slight changes in the estimates used to determine future net revenues from an asset could lead to the necessity of recording a significant impairment of that asset.
Property and Equipment	Property and Equipment: The Company follows the “successful efforts” method of accounting for its oil and gas properties. Under the successful efforts method, costs of acquiring undeveloped oil and gas leasehold acreage, including lease bonuses, brokers’ fees and other related costs are capitalized. Provisions for impairment of undeveloped oil and gas leases are based on periodic evaluations. Annual lease rentals and exploration expenses, including geological and geophysical expenses and exploratory dry hole costs, are charged against income as incurred. Costs of drilling and equipping productive wells, including development dry holes and related production facilities, are capitalized. All other property and equipment are carried at cost. Depreciation and depletion of oil and gas production equipment and properties are determined under the unit-of-production
Capitalization of Interest	Capitalization of Interest: Interest costs related to financing major oil and gas projects in progress are capitalized until the projects are evaluated or until the projects are substantially complete and ready for their intended use if the projects are evaluated and successful.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets: The Company reviews long-lived assets, including oil and gas properties, for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recovered. If the carrying amounts are not expected to be recovered by undiscounted cash flows, the assets are impaired, and an impairment loss is recorded. The amount of impairment is based on the estimated fair value of the assets determined by discounting anticipated future net cash flows.
Fair Value	Fair Value: The Company follows the authoritative guidance that establishes a formal framework for measuring fair values of assets and liabilities in financial statements that are already required by U.S. generally accepted accounting principles to be measured at fair value. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The transaction is based on a hypothetical transaction in the principal or most advantageous market considered from the perspective of the market participant that holds the asset or owes the liability. The Company utilizes market data or assumptions that market participants who are independent, knowledgeable and willing and able to transact would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable. The Company attempts to utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. The Company is able to classify fair value balances based on the observability of those inputs. The guidance establishes a formal fair value hierarchy based on the inputs used to measure fair value. The hierarchy gives the highest priority to Level 1 inputs, which consist of unadjusted quoted prices for identical instruments in active markets. Level 2 inputs consist of quoted prices for similar instruments. Level 3 valuations are derived from inputs that are significant and unobservable; hence, these valuations have the lowest priority.
Asset Retirement Obligation	Asset Retirement Obligation: The asset retirement obligation primarily represents the estimated present value of the amount the Company will incur to plug, abandon and remediate producing properties at the end of their productive lives, in accordance with applicable state laws. The Company determined its asset retirement obligation by calculating the present value of estimated cash flows related to the liability. The asset retirement obligation is recorded as a liability at its estimated present value at its inception, with an offsetting increase to producing properties. Periodic accretion of discount of the estimated liability is recorded as an expense in the statement of operations.
Income Taxes	Income Taxes: The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recorded for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the tax rate in effect for the year in which those temporary differences are expected to turn around. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the year of the enacted rate change. A valuation allowance is established to reduce deferred tax assets if it is more likely than not that the related tax benefits will not be realized. As of December 31, 2020 , The Company is required to make judgments, including estimating reserves for potential adverse outcomes regarding tax positions that the Company has taken. The Company accounts for uncertainty in income taxes using a recognition and measurement threshold for tax positions taken or expected to be taken in a tax return. The effective tax rate and the tax basis of assets and liabilities reflect management’s estimates of the ultimate outcome of various tax uncertainties.
General and Administrative Expenses	General and Administrative Expenses: General and administrative expenses represent cost and expenses associated with the operation of the Company.
Earnings Per Common Share	Earnings Per Common 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.
Statements of Cash Flows	Statements of Cash Flows: For purposes of the consolidated statements of cash flows, the Company considers short-term, highly liquid investments with original maturities of less than ninety days to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk: The Company maintains significant banking relationships with financial institutions in the State of Texas. The Company limits its risk by periodically evaluating the relative credit standing of these financial institutions. The Company’s oil and gas production purchasers consist primarily of independent marketers and major gas pipeline companies.
Hedging	Hedging: The Company periodically enters into oil and gas financial instruments to manage its exposure to oil and gas price volatility. The oil and gas reference prices upon which the price hedging instruments are based reflect various market indices that have a high degree of historical correlation with actual prices received by the Company. The financial instruments are accounted for in accordance with applicable accounting standards for derivative instruments and hedging activities. Such standards require that applicable derivative instruments be measured at fair market value and recognized as assets or liabilities in the balance sheet. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation is generally established at the inception of a derivative. For derivatives designated as cash flow hedges and meeting applicable effectiveness guidelines, changes in fair value, to the extent effective, are recognized in other comprehensive income until the hedged item is recognized in earnings .
Recently Issued Accounting Standards	New Pronouncements Issued But Not Yet Adopted: In October 2020, the FASB issued ASU 2020-10, In March 2020, the FASB issued ASU 2020-04, 2021-01,

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Balance Sheet Amounts	Accounts receivable at December 31, 2020 and 2019 consisted of the following: December 31, (Thousands of dollars) 2020 2019 Joint interest billings $ 2,475 $ 3,339 Trade receivables 1,073 2,246 Oil and gas sales 3,469 7,284 Tax refund receivable — 1,720 Other 802 189 7,819 14,778 Less: Allowance for doubtful accounts (598 ) (418 ) Total $ 7,221 $ 14,360 Accounts payable at December 31, 2020 and 2019 consisted of the following: December 31, (Thousands of dollars) 2020 2019 Trade $ 876 $ 261 Royalty and other owners 3,569 5,251 Partner advances 193 205 Other 579 917 Total $ 5,217 $ 6,634 Accrued liabilities at December 31, 2020 and 2019 consisted of the following: December 31, (Thousands of dollars) 2020 2019 Compensation and related expenses $ 3,331 $ 3,620 Property costs 2,056 2,829 Taxes 1,016 — Other 384 387 Total $ 6,787 $ 6,836

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Summary of Operating and Financing Lease Obligation	The payment schedule for the Company’s operating and financing lease obligations as of December 31, 2020 is as follows: (Thousands of dollars) Operating Leases Financing Leases 2021 $ 106 $ 2 Total undiscounted lease payments $ 106 $ 2 Less: Amount associated with discounting (10 ) (0 ) Net operating lease liabilities $ 96 $ 2
Reconciliation of Liability for Plugging and Abandonment Costs	A reconciliation of the liability for plugging and abandonment costs for the years ended December 31, 2020 and 2019 is as follows: Year Ended December 31, (Thousands of dollars) 2020 2019 Asset retirement obligation at beginning of period $ 21,118 $ 21,334 Liabilities incurred 4 4 Liabilities settled (1,286 ) (1,442 ) Liabilities divested (5,731 ) — Accretion expense 856 1,120 Revisions in estimated liabilities (1,301 ) 102 Asset retirement obligation at end of period $ 13,660 $ 21,118

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Provision (Benefit) for Income Taxes	The components of the provision (benefit) for income taxes for the years ended December 31, 2020 and 2019 are as follows: Year Ended December 31, (Thousands of dollars) 2020 2019 Current: Federal $ 950 $ (1,798 ) State 80 123 Total current 1,030 (1,675 ) Deferred: Federal (1,491 ) 3,536 Year Ended December 31, (Thousands of dollars) 2020 2019 State (56 ) (440 ) Total deferred (1,547 ) 3,096 Total income tax provision $ (517 ) $ 1,421
Components of Net Deferred Tax Assets and Liabilities	At December 31, (Thousands of dollars) 2020 2019 Deferred Tax Assets: Accrued liabilities $ (584 ) $ 614 Allowance for doubtful accounts 136 95 Derivative Contracts 153 110 Alternative minimum tax credits — 1,720 State Net operating loss carry-forwards 760 821 Total deferred tax assets 465 3,360 Deferred Tax Liabilities: Basis differences relating to managed partnerships 544 2,109 Depletion and depreciation 36,288 37,173 Total deferred tax liabilities 39,832 39,282 Net deferred tax liabilities $ 36,367 $ 35,922
Provision for Income Taxes Varies from Federal Statutory Tax Rate	The total provision for income taxes for the years ended December 31, 2020 and 2019 varies from the federal statutory tax rate as a result of the following: Year Ended December 31, (Thousands of dollars) 2020 2019 Expected tax expense $ (595 ) $ 1,028 Executive Compensation 703 597 State income tax, net of federal benefit 63 (303 ) Percentage depletion (182 ) (341 ) AMT and Marginal Well Credits (502 ) 436 Other, net (4 ) 4 Total income tax provision (benefit) $ (517 ) $ 1,421

Segment Information and Major_2

Segment Information and Major Customers (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information by Major Customers	The Company sells its oil and natural gas and liquids production to a number of direct purchasers under direct contracts or through other operators under joint operating agreements. Listed below are the purchasers of the Company’s production which represented more than 10% of the Company’s sales in the year 20 20 Oil: Apache Corporation 47 % Plains All American Inc. 19 % Natural gas and liquids: Apache Corporation 42 % Targa Pipeline Mid-Continent 12 %

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2020 and December 31, 2019: December 31, 2020 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2020 (Thousands of dollars) Assets Commodity derivative contracts $ — $ — $ 97 $ 97 Total assets $ — $ — $ 97 $ 97 Liabilities Commodity derivative contracts $ — $ — $ (768 ) $ (768 ) Total liabilities $ — $ — $ (768 ) $ (768 ) December 31, 2019 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2019 (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 year ended December 2020. (Thousands of dollars) Net Liabilities – December 31, 2019 $ (481 ) Total realized and unrealized (gains) losses: Included in earnings (a) 5,983 Purchases, sales, issuances and settlements (6,173 ) Net Liabilities — December 31, 2020 $ (671 ) (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 December 31, 2020 and 2019: Fair Value (Thousands of dollars) Balance Sheet Location December 31, 2020 December 31, 2019 Asset Derivatives: Derivatives not designated as cash-flow hedging instruments: Natural gas commodity contracts Derivative asset short-term $ — $ 146 Natural gas liquid contracts Derivative asset short-term — — Crude oil commodity contracts Derivative asset short-term — 126 Natural gas commodity contracts Derivative asset long-term and other assets 97 — Crude oil commodity contracts Derivative asset short-term and other assets — — Total $ 97 $ 272 Liability Derivatives: Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term $ (428 ) $ (715 ) Natural gas commodity contracts Derivative liability short-term (296 ) (38 ) Natural gas liquid contracts Derivative liability short-term — — Natural gas commodity contracts Derivative liability long-term (44 ) — Total $ (768 ) $ (753 ) Total derivative instruments $ (671 ) $ (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 years ended December 31, 2020 and 2019: Location of gain/loss recognized in income Amount of gain/loss recognized in income (Thousands of dollars) 2020 2019 Derivatives not designated as cash-flow hedge instruments: Natural gas commodity contracts Unrealized gain on derivative (351 ) 123 Crude oil commodity contracts Unrealized gain (loss) on 161 (2,776 ) Natural gas liquids contracts Unrealized (loss) on — (124 ) Natural gas commodity contracts Realized (loss) gain on 476 90 Crude oil commodity contracts Realized gain (loss) on 5,697 (1,814 ) $ 5,983 $ (4,148 )

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) per Share	The following reconciles amounts reported in the financial statements: Year Ended December 31, 2020 2019 Net Income (In 000’s) Weighte d Average Number of Shares Outstanding Per Share Net Income Weighted Per Share Basic $ (2,316 ) 1,994,425 $ (1.16 ) $ 3,476 2,019,502 $ 1.72 Effect of dilutive securities: Options — 761,233 Diluted $ (2,316 ) 1,994,425 $ (1.16 ) $ 3,476 2,780,735 $ 1.25

Supplementary Information (Tabl

Supplementary Information (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capitalized Costs Relating to Oil and Gas Producing Activities	CAPITALIZED COSTS RELATING TO OIL AND GAS PRODUCING ACTIVITIES (Unaudited) As of December 31, (Thousands of dollars) 2020 2019 Proved Developed oil and gas properties $ 520,488 $ 527,729 Proved Undeveloped oil and gas properties — — Total Capitalized Costs 520,488 527,729 Accumulated depreciation, depletion and valuation allowance 335,390 322,409 Net Capitalized Costs $ 185,098 $ 205,320
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities	COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION AND DEVELOPMENT ACTIVITIES (Unaudited) Year Ended December 31, (Thousands of dollars) 2020 2019 Development Costs $ 9,339 $ 15,348
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves	STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES (Unaudited) As of December 31, (Thousands of dollars) 2020 2019 Future cash inflows $ 221,090 $ 423,839 Future production costs (100,691 ) (202,169 ) Future development costs (39,167 ) (62,379 ) Future income tax expenses (15,135 ) (29,678 ) Future Net Cash Flows 66,097 129,613 10% annual discount for estimated timing of cash flows (24,479 ) (48,001 ) Standardized Measure of Discounted Future Net Cash Flows $ 41,619 $ 81,612
Standardized Measure of Discounted Future Net Cash Flows and Changes therein Relating to Proved Oil and Gas Reserves	STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS AND CHANGES THEREIN RELATING TO PROVED OIL AND GAS RESERVES (Unaudited) The following are the principal sources of change in the standardized measure of discounted future net cash flows during 2020 and 2019: Year Ended December 31, (Thousands of dollars) 2020 2019 Sales of oil and gas produced, net of production costs $ (13,945 ) $ (15,938 ) Net changes in prices and production costs (16,578 ) (42,409 ) Extensions, discoveries and improved recovery 314 31,276 Revisions of previous quantity estimates (36,919 ) (3,319 ) Net change in development costs 20,724 (53,143 ) Reserves sold (874 ) (113 ) Reserves purchased 218 174 Accretion of discount 8,161 13,791 Net change in income taxes 5,386 5,572 Changes in production rates (timing) and other (6,480 ) 7,812 Net change (39,993 ) (56,297 ) Standardized measure of discounted future net cash flow: Beginning of year 81,612 137,909 End of year $ 41,619 $ 81,612
Reserve Quantity Information	RESERVE QUANTITY INFORMATION Years Ended December 31, 2020 and 2019 (Unaudited) As of December 31, 2020 2019 Oil NGL’s (MBbls) Gas (MMcf) Oil NGLs Gas Proved Developed Reserves: Beginning of year 4,381 2,914 19,995 6,404 2,707 21,065 Extensions, discoveries and improved recovery 11 7 36 471 264 1,330 Revisions of previous estimates (995 ) (239 ) (1,721 ) (1,260 ) 506 2,033 Converted from undeveloped reserves 25 5 66 7 7 65 Reserves sold (29 ) 0 (1,400 ) (5 ) — (120 ) Reserve purchased 24 8 38 6 4 19 Production (733 ) (437 ) (3,381 ) (1,242 ) (574 ) (4,397 ) End of year 2,684 2,258 13,633 4,381 2,914 19,995 Proved Undeveloped Reserves: Beginning of year 1,833 1,017 4,547 10 12 124 Extensions, discoveries and improved recovery 1,834 1,013 4,530 Revisions of previous estimates (24 ) (224 (584 ) (4 ) (1 ) (42 ) Converted to developed reserves (25 ) (5 ) (66 ) (7 ) (7 ) (65 ) End of year 1,784 787 3,897 1,833 1,017 4,457 Total Proved Reserves at the End of the Year 4,468 3,045 17,530 6,214 3,931 24,542
Results of Operations from Oil and Gas Producing Activities	RESULTS OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES Years Ended December 31, 2020 and 2019 (Unaudited) Year Ended December 31, (Thousands of dollars) 2020 2019 Revenue: Oil and gas sales $ 36,973 $ 84,015 Costs and Expenses: Lease operating expenses 23,028 33,461 Depreciation, depletion and accretion 25,921 34,616 Income tax expense (2,515 ) 1,421 Total Costs and Expenses 46,434 69,498 Results of Operations from Producing Activities (excluding corporate overhead and interest costs) $ (9,461 ) $ 14,517

Description of Operations and_3

Description of Operations and Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020WellPartnershipTrust	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Number of wells under non-operating interests	800
Number of limited partnerships | Partnership	1
Number of business income trusts | Trust	1
Valuation allowance | $		$ 0	$ 0
Maximum maturity period of cash and cash equivalents	90 days
Minimum [Member]
Property, Plant and Equipment [Line Items]
Number of wells operating by the company	760
Depreciation period of equipment	5 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciation period of equipment	10 years

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)aWell	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Purchase of non-controlling interests	$ 22,000	$ 499,000
Payments to acquire oil and gas property and equipment	10,523,000	18,046,000
Proceeds from sale of oil and gas property and equipment	10,900,000	4,300,000
Non cash acquisition of non controlling interests	36,000	111,000
Proceeds from liquidation of partnerships	720,000,000
Non cash distribution of non controlling interest	1,550,000,000
Non-Controlling Interest [Member]
Business Acquisition [Line Items]
Purchase of non-controlling interests	58,000	616,000
Non cash acquisition of non controlling interests	$ 36,000	$ 111,000
Reagan County [Member]
Business Acquisition [Line Items]
Number of Acres | a	232
Number of oil and well assets | Well	53
Payments to acquire oil and gas property and equipment	$ 343,000,000
Reagan County [Member] | Minimum [Member]
Business Acquisition [Line Items]
Percentage of working interest ownership in acquisition of Asset	15.00%
Reagan County [Member] | Maximum [Member]
Business Acquisition [Line Items]
Percentage of working interest ownership in acquisition of Asset	16.60%
Upton County [Member]
Business Acquisition [Line Items]
Number of Acres | a	9.36
Payments to acquire oil and gas property and equipment	$ 5,100,000

Additional Balance Sheet Info_3

Additional Balance Sheet Information - Components of Balance Sheet Amounts (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable:
Joint interest billings	$ 2,475	$ 3,339
Trade receivables	1,073	2,246
Oil and gas sales	3,469	7,284
Tax refund receivable	1,720	1,720
Other	802	189
Accounts Receivable, Gross	7,819	14,778
Less: Allowance for doubtful accounts	(598)	(418)
Total	7,221	14,360
Accounts Payable:
Trade	876	261
Royalty and other owners	3,569	5,251
Partner advances	193	205
Other	579	917
Total	5,217	6,634
Accrued Liabilities:
Compensation and related expenses	3,331	3,620
Property costs	2,056	2,829
Taxes	1,016
Other	384	387
Total	$ 6,787	$ 6,836

Long-Term Debt - Additional Inf

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

Feb. 11, 2021

May 31, 2020

Jan. 26, 2018

Jan. 12, 2018

Dec. 31, 2014

Aug. 31, 2014

Dec. 01, 2020

Sep. 30, 2019

Dec. 31, 2020

Dec. 31, 2017

Dec. 31, 2021

Sep. 30, 2020

Sep. 04, 2020

Jun. 26, 2019

Jan. 08, 2019

Dec. 31, 2018

Jul. 17, 2018

Dec. 22, 2017

Feb. 15, 2017

Jul. 29, 2014

Debt Instrument [Line Items]

Outstanding borrowings under revolving credit facility

$ 37,000,000

Weighted-average interest rate of borrowings

4.00%

Credit facility remaining borrowing capacity

$ 11,000,000

Long-term Debt, Current Maturities

$ 487,000

Loan Under Paycheck Protection Programme [Member]

Debt Instrument [Line Items]

Long-term Debt, Current Maturities

$ 487,000

Long-term bank debt

$ 1,267,000

Loan Under Paycheck Protection Programme [Member] | Eastern Oilwells Service Corporation [Member]

Debt Instrument [Line Items]

Proceeds from scheme based loan

$ 470,000

Loan Under Paycheck Protection Programme [Member] | Prime Operating Company And Eastern Oilwells Company [Member]

Debt Instrument [Line Items]

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

$ 1,280,000

Credit Agreement [Member]

Debt Instrument [Line Items]

Credit facility borrowing base

$ 50,000,000

$ 90,000,000

$ 100,000,000

$ 72,000,000

Credit Agreement [Member] | Fifth Amendment To The Credit Agreement [Member]

Debt Instrument [Line Items]

Line of credit facility decrease in the borrowing base

$ 666,666.67

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

Additional equipment Loan, drawings

$ 500,000

$ 4,800,000

Equipment Loan, interest rate description

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

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, 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

$ 85,000,000

Line of credit facility, expiration date

Feb. 15, 2021

2017 Credit Agreement [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Equipment Loan, face amount

$ 40,000,000

Equipment Loan, maturity date

Feb. 11, 2023

2017 Credit Agreement [Member] | Subsequent Event [Member] | Maximum [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

3.00%

LIBOR Margin Rate

4.00%

2017 Credit Agreement [Member] | Subsequent Event [Member] | Minimum [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

2.00%

LIBOR Margin Rate

3.00%

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

5.34%

3.95%

Base Rate [Member] | Credit Agreement [Member] | Fifth Amendment To The Credit Agreement [Member] | Maximum [Member]

Debt Instrument [Line Items]

Line of credit borrowing base utilisation percentage

3.50%

Base Rate [Member] | Credit Agreement [Member] | Fifth Amendment To The Credit Agreement [Member] | Minimum [Member]

Debt Instrument [Line Items]

Line of credit borrowing base utilisation percentage

2.50%

Alternate Base Rate [Member] | Credit Agreement [Member] | Fifth Amendment To The Credit Agreement [Member] | Maximum [Member]

Debt Instrument [Line Items]

Line of credit borrowing base utilisation percentage

2.50%

Alternate Base Rate [Member] | Credit Agreement [Member] | Fifth Amendment To The Credit Agreement [Member] | Minimum [Member]

Debt Instrument [Line Items]

Line of credit borrowing base utilisation percentage

1.50%

Commitments - Additional Inform

Commitments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
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.
Rent expense for office space	$ 663,000	$ 594,000	$ 0
Lease Payments With in One Year	$ 461,000
Lease Payments Due Next year				$ 89,000
Weighted-average discount rate	5.50%
Operating lease weighted-average remaining lease term	2 months 15 days
Finance Lease Remaining Lease Term	4 months
Finance lease amortization and interest expense	$ 7,165,000
Operating Lease Payments	616,000
Operating Lease, Cost	574,000
Finance Lease Payments	$ 7,655,000

Commitments - Summary of Operat

Commitments - Summary of Operating and Financing Lease Obligation (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 106
Total undiscounted lease payments	106
Less: Amount associated with discounting	(10)
Net operating lease liabilities	96
2020	2
Total undiscounted lease payments	2
Less: Amount associated with discounting	0
Net finance lease liabilities	$ 2

Commitments - Reconciliation of

Commitments - Reconciliation of Liability for Plugging and Abandonment Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Asset retirement obligation	$ 21,118	$ 21,334
Liabilities incurred	4	4
Liabilities settled	(1,286)	(1,442)
Liabilities divested	(5,731)
Accretion expense	856	1,120
Revisions in estimated liabilities	(1,301)	102
Asset retirement obligation	$ 13,660	$ 21,118

Stock Options and Other Compe_2

Stock Options and Other Compensation - Additional Information (Detail)	Dec. 31, 2020$ / sharesshares	Dec. 31, 2019$ / 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

Income Taxes - Components of Pr

Income Taxes - Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 950	$ (1,798)
State	80	123
Total current	1,030	(1,675)
Deferred:
Federal	(1,491)	3,536
State	(56)	(440)
Total deferred	(1,547)	3,096
Total income tax provision (benefit)	$ (517)	$ 1,421

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets:
Accrued liabilities	$ (584)	$ 614
Allowance for doubtful accounts	136	95
Derivative Contracts	153	110
Alternative minimum tax credits	0	1,720
State Net operating loss carry-forwards	760	821
Total deferred tax assets	465	3,360
Deferred Tax Liabilities:
Basis differences relating to managed partnerships	544	2,109
Depletion and depreciation	36,288	37,173
Total deferred tax liabilities	39,832	39,282
Net deferred tax liabilities	$ 36,367	$ 35,922

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes Varies from Federal Statutory Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Expected tax expense	$ (595)	$ 1,028
Executive Compensation	703	597
State income tax, net of federal benefit	63	(303)
Percentage depletion	(182)	(341)
AMT and Marginal Well Credits	(502)	436
Other, net	(4)	4
Total income tax provision (benefit)	$ (517)	$ 1,421

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes And Tax Related [Line Items]
Percentage of AMT credit refundable			50.00%	50.00%
Number of years in which tax refund is expected to be received			4 years
Expected credits against regular tax and refunds of previously paid taxes				$ 1,720
Income Tax Refundable			$ 1,720	$ 1,720
Percentage Of Increase In Refundable Portion Of AMT Credits	100.00%
Tax Year 2018 [Member]
Income Taxes And Tax Related [Line Items]
Income Tax Refundable			$ 1,720
Scenario, Forecast [Member]
Income Taxes And Tax Related [Line Items]
Percentage of AMT credit refundable		100.00%
Texas Franchise Tax [Member]
Income Taxes And Tax Related [Line Items]
Tax credit operating carry forward losses allowed after the period, Description			No credit may be carried forward past 2026
Texas Franchise Tax [Member] | 2019 through 2026 [Member]
Income Taxes And Tax Related [Line Items]
Expected credits against regular tax and refunds of previously paid taxes			$ 89

Segment Information and Major_3

Segment Information and Major Customers - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020industries
Revenue, Major Customer [Line Items]
Number of industry in which company operates	1
Sales [Member] | Minimum [Member] | Customer Concentration Risk [Member]
Revenue, Major Customer [Line Items]
Customer purchases with respect of company's sales	10.00%

Segment Information and Major_4

Segment Information and Major Customers - Segment Information by Major Customers (Detail) - Sales [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2020
Oil Purchasers [Member] | Apache Corporation [Member]
Revenue, Major Customer [Line Items]
Revenue by major customers	47.00%
Oil Purchasers [Member] | Plains All American Inc., Oil Purchasers [Member]
Revenue, Major Customer [Line Items]
Revenue by major customers	19.00%
Natural gas and liquids [Member] | Apache Corporation [Member]
Revenue, Major Customer [Line Items]
Revenue by major customers	42.00%
Natural gas and liquids [Member] | Targa Pipeline Mid-Continent West Tex, LLC [Member]
Revenue, Major Customer [Line Items]
Revenue by major customers	12.00%

Financial Instruments - Schedul

Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Derivative assets	$ 97	$ 272
Liabilities
Derivative liabilities	(768)	(753)
Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	97	272
Liabilities
Derivative liabilities	(768)	(753)
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	97	272
Liabilities
Derivative liabilities	(768)	(753)
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	97	272
Liabilities
Derivative liabilities	(768)	(753)
Significant Unobservable Inputs (Level 3) [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	97	272
Liabilities
Derivative liabilities	$ (768)	$ (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	12 Months Ended
	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Liabilities at beginning of period	$ (481)
Total realized and unrealized (gains) losses:
Included in earnings	5,983	[1]
Purchases, sales, issuances and settlements	(6,173)
Net Liabilities end of period	$ (671)
[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	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Derivative assets	$ 97	$ 272
Derivative liabilities	(768)	(753)
Total derivative instruments	(671)	(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		146
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	97
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	(296)	(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	(44)
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		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	(428)	$ (715)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Derivative asset short term and other assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets
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
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

Financial Instruments - Effec_2

Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	$ 5,983	$ (4,148)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Unrealized gain on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	(351)	123
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Realized gain (loss) on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	476	90
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Unrealized gain (loss) on derivative instruments, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	161	(2,776)
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	$ 5,697	(1,814)
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		$ (124)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 22,000	$ 499,000
Partnership And Trust [Member]
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 742,000	$ 499,000

Salary Deferral Plan - Addition

Salary Deferral Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Salary deferral plan, discretionary and matching contribution	$ 341,000	$ 412,000

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net (Loss) Income, Basic	$ (2,316)	$ 3,476
Net (Loss) Income, Diluted	$ (2,316)	$ 3,476
Weighted Average Number of Shares Outstanding, Basic	1,994,425	2,019,502
Weighted Average Number of Shares Outstanding, Options		761,233
Weighted Average Number of Shares Outstanding, Diluted	1,994,425	2,780,735
Per Share Amount, Basic	$ (1.16)	$ 1.72
Per Share Amount, Diluted	$ (1.16)	$ 1.25

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020shares
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	767,000

Supplementary Information - Cap

Supplementary Information - Capitalized Costs Relating to Oil and Gas Producing Activities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proved Developed oil and gas properties	$ 520,488	$ 527,729
Proved Undeveloped oil and gas properties
Total Capitalized Costs	520,488	527,729
Accumulated depreciation, depletion and valuation allowance	335,390	322,409
Net Capitalized Costs	$ 185,098	$ 205,320

Supplementary Information - Cos

Supplementary Information - Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Development Costs	$ 9,339	$ 15,348

Supplementary Information - Sta

Supplementary Information - Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Future cash inflows	$ 221,090	$ 423,839
Future production costs	(100,691)	(202,169)
Future development costs	(39,167)	(62,379)
Future income tax expenses	(15,135)	(29,678)
Future Net Cash Flows	66,097	129,613
10% annual discount for estimated timing of cash flows	(24,479)	(48,001)
Standardized Measure of Discounted Future Net Cash Flows	$ 41,619	$ 81,612	$ 137,909

Supplementary Information - S_2

Supplementary Information - Standardized Measure of Discounted Future Net Cash Flows and Changes therein Relating to Proved Oil and Gas Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Sales of oil and gas produced, net of production costs	$ (13,945)	$ (15,938)
Net changes in prices and production costs	(16,578)	(42,409)
Extensions, discoveries and improved recovery	314	31,276
Revisions of previous quantity estimates	(36,919)	(3,319)
Net change in development costs	20,724	(53,143)
Reserves sold	(874)	(113)
Reserves purchased	218	174
Accretion of discount	8,161	13,791
Net change in income taxes	5,386	5,572
Changes in production rates (timing) and other	(6,480)	7,812
Net change	(39,993)	(56,297)
Standardized measure of discounted future net cash flow:
Beginning of year	81,612	137,909
End of year	$ 41,619	$ 81,612

Supplementary Information - Res

Supplementary Information - Reserve Quantity Information (Detail)	12 Months Ended
	Dec. 31, 2020MBblsMMcf	Dec. 31, 2019MBblsMMcf
Oil [Member]
Proved Developed Reserves:
Beginning of year	4,381	6,404
Extensions, discoveries and improved recovery	11	471
Revisions of previous estimates	(995)	(1,260)
Converted from undeveloped reserves	25	7
Reserves sold	(29)	(5)
Reserve purchased	24	6
Production	(733)	(1,242)
End of year	2,684	4,381
Proved Undeveloped Reserves:
Beginning of year	1,833	10
Extensions, discoveries and improved recovery		1,834
Revisions of previous estimates	(24)	(4)
Converted to developed reserves	(25)	(7)
End of year	1,784	1,833
Total Proved Reserves at the End of the Year	4,468	6,214
NGLs [Member]
Proved Developed Reserves:
Beginning of year	2,914	2,707
Extensions, discoveries and improved recovery	7	264
Revisions of previous estimates	(239)	506
Converted from undeveloped reserves	5	7
Reserves sold	0	0
Reserve purchased	8	4
Production	(437)	(574)
End of year	2,258	2,914
Proved Undeveloped Reserves:
Beginning of year	1,017	12
Extensions, discoveries and improved recovery		1,013
Revisions of previous estimates	(224)	(1)
Converted to developed reserves	(5)	(7)
End of year	787	1,017
Total Proved Reserves at the End of the Year	3,045	3,931
Gas [Member]
Proved Developed Reserves:
Beginning of year | MMcf	19,995	21,065
Extensions, discoveries and improved recovery | MMcf	36	1,330
Revisions of previous estimates | MMcf	(1,721)	2,033
Converted from undeveloped reserves | MMcf	66	65
Reserves sold | MMcf	(1,400)	(120)
Reserve purchased | MMcf	38	19
Production | MMcf	(3,381)	(4,397)
End of year | MMcf	13,633	19,995
Proved Undeveloped Reserves:
Beginning of year | MMcf	4,457	124
Extensions, discoveries and improved recovery | MMcf		4,530
Revisions of previous estimates | MMcf	(584)	(42)
Converted to developed reserves | MMcf	(66)	(65)
End of year | MMcf	3,897	4,457
Total Proved Reserves at the End of the Year | MMcf	17,530	24,542

Supplementary Information - R_2

Supplementary Information - Results of Operations from Oil and Gas Producing Activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue:
Oil and gas sales	$ 36,973	$ 84,015
Costs and Expenses:
Lease operating expenses	23,028	33,461
Depreciation, depletion and accretion	25,921	34,616
Income tax expense	(2,515)	1,421
Total Costs and Expenses	46,434	69,498
Results of Operations from Producing Activities (excluding corporate overhead and interest costs)	$ (9,461)	$ 14,517

Supplementary Information - Add

Supplementary Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest rate of Company's reserves	10.00%
Rate of discounted future net cash flows	10.00%
Percentage of discounted future prices	10.00%