Carbon Energy (CRBO) 10-Q 13 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 08, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Carbon Energy Corp
Entity Central Index Key	0000086264
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity File Number	000-02040
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	DE
Entity Common Stock, Shares Outstanding		7,856,864

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 3,514	$ 5,736
Accounts receivable:
Revenue	11,632	19,671
Joint interest billings and other	1,361	1,770
Insurance receivable (Note 2)		522
Commodity derivative asset (Note 14)	6,722	3,517
Prepaid expense, deposits and other current assets	2,537	1,645
Inventory	2,522	1,149
Total current assets	28,288	34,010
Oil and gas properties, full cost method of accounting:
Proved, net	243,593	248,455
Unproved	5,004	5,416
Other property and equipment, net	16,253	17,563
Total property and equipment, net	264,850	271,434
Investments in affiliates	605	598
Commodity derivative asset - non-current (Note 14)	3,072	3,505
Right-of-use assets (Note 8)	6,523
Other non-current assets	1,166	1,344
Total non-current assets	276,216	276,881
Total assets	304,504	310,891
Current liabilities:
Accounts payable and accrued liabilities (Note 5)	30,786	34,816
Firm transportation contract obligations (Note 15)	5,824	6,129
Lease liability - current (Note 8)	1,620
Credit facilities and notes payable - current (Note 7)	8,266	11,910
Total current liabilities	46,496	52,855
Non-current liabilities:
Firm transportation contract obligations (Note 15)	9,795	12,729
Lease liability - non-current (Note 8)	4,793
Production and property taxes payable	2,654	2,914
Asset retirement obligations (Note 6)	18,788	19,211
Credit facilities and notes payable (Note 7)	96,034	97,228
Notes payable - related party (Note 7)	44,465	49,919
Total non-current liabilities	176,529	182,001
Commitments and contingencies (Note 15)
Stockholders' equity:
Preferred stock, $0.01 par value; liquidation preference of $449 at September 30, 2019 and $224 at December 31, 2018; authorized 1,000,000 shares, 50,000 shares issued and outstanding at September 30, 2019 and December 31, 2018	1	1
Common stock, $0.01 par value; authorized 35,000,000 shares, 7,856,030 and 7,655,759 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	79	77
Additional paid-in capital	85,261	84,612
Accumulated deficit	(31,628)	(36,939)
Total Carbon stockholders' equity	53,713	47,751
Non-controlling interests	27,766	28,284
Total stockholders' equity	81,479	76,035
Total liabilities and stockholders' equity	$ 304,504	$ 310,891

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	50,000	50,000
Preferred stock, shares outstanding	50,000	50,000
Preferred stock, liquidation preference	$ 449	$ 224
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	7,856,030	7,655,759
Common stock, shares outstanding	7,856,030	7,655,759

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue:
Commodity derivative gain (loss)	$ 5,595	$ (3,902)	$ 4,969	$ (10,550)
Other income	123	16	820	35
Total revenue	30,535	12,742	92,692	25,363
Expenses:
Lease operating expenses	7,689	4,767	21,784	10,824
Pipeline operating expenses	2,614		8,650
Transportation and gathering costs	1,593	1,433	4,392	3,786
Production and property taxes	16	743	3,692	1,792
Marketing gas purchases	3,872		14,969
General and administrative	2,852	3,517	11,489	9,007
General and administrative - related party reimbursement		(1,170)		(3,383)
Depreciation, depletion and amortization	4,112	2,731	11,973	6,202
Accretion of asset retirement obligations	420	206	1,219	510
Total expenses	23,168	12,227	78,168	28,738
Operating income (loss)	7,367	515	14,524	(3,375)
Other income (expense):
Interest expense, net	(3,047)	(1,127)	(9,772)	(3,331)
Warrant derivative gain				225
Gain on derecognized equity investment in affiliate - Carbon California				5,390
Investments in affiliates	32	157	73	1,121
Total other (expense) income	(3,015)	(970)	(9,699)	3,405
Income (loss) before income taxes	4,352	(455)	4,825	30
Provision for income taxes
Net income (loss) before non-controlling interests and preferred shares	4,352	(455)	4,825	30
Net income (loss) attributable to non-controlling interests	1,170	270	(486)	(2,234)
Net income (loss) attributable to controlling interests before preferred shares	3,182	(725)	5,311	2,264
Net income attributable to preferred shares - preferred return	75		225
Net income (loss) attributable to common shares	$ 3,107	$ (725)	$ 5,086	$ 2,264
Net income (loss) per common share:
Basic (in dollars per share)	$ 0.40	$ (0.09)	$ 0.65	$ 0.30
Diluted (in dollars per share)	$ 0.38	$ (0.10)	$ 0.63	$ 0.10
Weighted average common shares outstanding:
Basic (in shares)	7,839	7,701	7,780	7,466
Diluted (in shares)	8,141	7,701	8,082	7,781
Natural gas sales [Member]
Revenue:
Total revenue	$ 11,963	$ 4,372	$ 45,495	$ 11,835
Natural gas liquids [Member]
Revenue:
Total revenue	10	406	451	1,119
Oil sales [Member]
Revenue:
Total revenue	9,049	11,850	27,940	22,924
Transportation and handling [Member]
Revenue:
Total revenue	304		1,361
Marketing gas sales [Member]
Revenue:
Total revenue	$ 3,491		$ 11,656

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Preferred Stock	Additional Paid-in Capital	Non-Controlling Interests	Accumulated Deficit	Total
Balances at Dec. 31, 2017	$ 60		$ 58,813	$ 1,841	$ (44,218)	$ 16,496
Balances (in shares) at Dec. 31, 2017	6,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			292			292
Restricted stock vested	$ 1					1
Restricted stock vested (in shares)	38
CCC warrant exercise - share issuance	$ 15		8,311	16,466		24,792
CCC warrant exercise - share issuance (in shares)	1,528
CCC warrant exercise - liability extinguishment			1,792			1,792
Non-controlling interests' distributions, net				(24)		(24)
Net income (loss)				1,115	3,569	4,684
Balances at Mar. 31, 2018	$ 76		69,208	19,398	(40,649)	48,033
Balances (in shares) at Mar. 31, 2018	7,572
Balances at Dec. 31, 2017	$ 60		58,813	1,841	(44,218)	16,496
Balances (in shares) at Dec. 31, 2017	6,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)						30
Balances at Sep. 30, 2018	$ 77	$ 1	75,858	21,551	(43,226)	54,261
Balances (in shares) at Sep. 30, 2018	7,701	50
Balances at Mar. 31, 2018	$ 76		69,208	19,398	(40,649)	48,033
Balances (in shares) at Mar. 31, 2018	7,572
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			192			192
Restricted stock vested
Restricted stock vested (in shares)	21
Performance units vested	$ 1		(1)
Performance units vested, (in shares)	108
Preferred share issuance (Note 11)		$ 1	4,999			5,000
Preferred share issuance (Note 11) (in shares)		50
Beneficial conversion feature			1,125		(1,125)
Deemed dividend			71		(71)
Non-controlling interests' distributions, net				5,498		5,498
Net income (loss)				(3,619)	(579)	(4,198)
Balances at Jun. 30, 2018	$ 77	$ 1	75,594	21,277	(42,424)	54,525
Balances (in shares) at Jun. 30, 2018	7,701	50
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			187			187
Beneficial conversion feature
Deemed dividend			77		(77)
Non-controlling interests' distributions, net				4		4
Net income (loss)				270	(725)	(455)
Balances at Sep. 30, 2018	$ 77	$ 1	75,858	21,551	(43,226)	54,261
Balances (in shares) at Sep. 30, 2018	7,701	50
Balances at Dec. 31, 2018	$ 77	$ 1	84,612	28,284	(36,939)	76,035
Balances (in shares) at Dec. 31, 2018	7,656	50
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			222			222
Restricted stock vested	$ 1					1
Restricted stock vested (in shares)	40
Performance units vested	$ 1		(1)
Performance units vested, (in shares)	95
Non-controlling interests' distributions, net				22		22
Net income (loss)				(2,590)	(4,100)	(6,690)
Balances at Mar. 31, 2019	$ 79	$ 1	84,833	25,716	(41,039)	69,590
Balances (in shares) at Mar. 31, 2019	7,791	50
Balances at Dec. 31, 2018	$ 77	$ 1	84,612	28,284	(36,939)	76,035
Balances (in shares) at Dec. 31, 2018	7,656	50
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)						4,825
Balances at Sep. 30, 2019	$ 79	$ 1	85,261	27,766	(31,628)	81,479
Balances (in shares) at Sep. 30, 2019	7,856	50
Balances at Mar. 31, 2019	$ 79	$ 1	84,833	25,716	(41,039)	69,590
Balances (in shares) at Mar. 31, 2019	7,791	50
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			224			224
Restricted stock vested
Restricted stock vested (in shares)	25
Non-controlling interests' distributions, net				(16)		(16)
Net income (loss)				934	6,229	7,163
Balances at Jun. 30, 2019	$ 79	$ 1	85,057	26,634	(34,810)	76,961
Balances (in shares) at Jun. 30, 2019	7,816	50
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			204			204
Restricted stock vested
Restricted stock vested (in shares)	40
Non-controlling interests' distributions, net				(38)		(38)
Net income (loss)				1,170	3,182	4,352
Balances at Sep. 30, 2019	$ 79	$ 1	$ 85,261	$ 27,766	$ (31,628)	$ 81,479
Balances (in shares) at Sep. 30, 2019	7,856	50

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 4,825	$ 30
Items not involving cash:
Depreciation, depletion and amortization	11,973	6,202
Accretion of asset retirement obligations	1,219	510
Unrealized commodity derivative (gain) loss	(2,771)	8,381
Warrant derivative gain		(225)
Stock-based compensation expense	650	672
Investments in affiliates	(57)	(1,121)
Gain on derecognized equity investment in affiliate - Carbon California		(5,390)
Amortization of debt costs	644	468
Interest expense paid-in-kind	1,819
Other	(56)
Net change in:
Accounts receivable	8,971	(2,975)
Prepaid expenses, deposits and other current assets	(982)	456
Accounts payable, accrued liabilities and firm transportation contract obligations	(11,718)	(1,945)
Other non-current items	(395)	(1,751)
Net cash provided by operating activities	14,122	3,312
Cash flows from investing activities:
Development and acquisition of properties and equipment	(4,226)	(44,681)
Proceeds received - Carbon California Acquisition		275
Distribution from affiliate	50
Proceeds received - disposition of oil and gas properties and other property and equipment	314
Net cash used in investing activities	(3,862)	(44,406)
Cash flows from financing activities:
Proceeds from credit facilities and notes payable	4,000	34,529
Proceeds from preferred shares		5,000
Payments on credit facilities and notes payable	(16,396)	(14)
Payments of debt issuance costs	(54)	(586)
(Distributions to) contributions from non-controlling interests, net	(32)	4,992
Net cash (used in) provided by financing activities	(12,482)	43,921
Net (decrease) increase in cash and cash equivalents	(2,222)	2,827
Cash and cash equivalents, beginning of period	5,736	1,650
Cash and cash equivalents, end of period	$ 3,514	$ 4,477

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	NOTE 1 – ORGANIZATION Carbon Energy Corporation (formerly known as Carbon Natural Gas Company) is an independent oil and natural gas company engaged in the acquisition, exploration, development and production of oil, natural gas and natural gas liquids properties located in the United States. The terms "we", "us", "our", the "Company" or "Carbon" refer to Carbon Energy Corporation and our consolidated subsidiaries (described below). The following is an organization chart of the key subsidiaries as of September 30, 2019 discussed in this report: Appalachian and Illinois Basin Operations In the Appalachian and Illinois Basins, operations are conducted by Nytis Exploration Company, LLC (" Nytis LLC In December 2018, we completed the acquisition of all of the Class A Units of Carbon Appalachian Company, LLC, a Delaware limited liability company (" Carbon Appalachia Old Ironsides OIE Membership Acquisition Ventura Basin Operations In California, Carbon California Operating Company, LLC conducts operations on behalf of Carbon California Company, LLC, a Delaware limited liability company (" Carbon California Yorktown Seneca Acquisition Prudential

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (" SEC GAAP Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of our consolidated subsidiaries. Upon the closing of the OIE Membership Acquisition on December 31, 2018, we own 100% of Carbon Appalachia. In addition, we own 100% of Nytis USA, which owns approximately 98.11% of Nytis LLC. Nytis LLC holds interests in various oil and gas partnerships. Partnerships and subsidiaries in which we have a controlling interest are consolidated. We are currently consolidating 46 partnerships, Carbon Appalachia, and Carbon California, and we reflect the non-controlling ownership interest in partnerships and subsidiaries as non-controlling interests on our unaudited condensed consolidated statements of operations and also reflect the non-controlling ownership interest in the net assets of the partnerships as non-controlling interests within stockholders' equity on our unaudited condensed consolidated balance sheets. All significant intercompany accounts and transactions have been eliminated. In accordance with established practice in the oil and gas industry, our unaudited condensed consolidated financial statements also include our pro-rata share of assets, liabilities, income, lease operating costs and general and administrative expenses of the oil and gas partnerships in which we have a non-controlling interest. Non-majority owned investments that do not meet the criteria for pro-rata consolidation are accounted for using the equity method when we have the ability to significantly influence the operating decisions of the investee. When we do not have the ability to significantly influence the operating decisions of an investee, the cost method is used. All transactions, if any, with investees have been eliminated in the accompanying unaudited condensed consolidated financial statements. Reclassifications Certain prior period balances in the consolidated balance sheets and statements of operations have been reclassified to conform to the current year presentation. Specifically, a portion of credit facilities and notes payable balances as of December 31, 2018 were reclassified from non-current liabilities to current liabilities. This reclassification had no impact on net income, cash flows or stockholders' equity previously reported. Insurance Receivable Insurance receivable is comprised of insurance claims for the loss of property as a result of wildfires that impacted Carbon California in December 2017. The Company filed claims with its insurance provider. In January 2019, we reached a settlement agreement and received an $800,000 final settlement payment from our insurance provider related to the damage caused by the California wildfires. As of September 30, 2019, we were in receipt of all funds associated with the claims. Revenue Upon completion of the OIE Membership Acquisition, our revenue recognition policy was amended to account for the additional revenue we receive for transportation and handling and marketing gas sales, as described below. Transportation and Handling We generally purchase natural gas from producers at the wellhead or other receipt points, gather the wellhead natural gas through our gathering systems, and then sell the natural gas based on published index market prices. We remit to the producers either an agreed-upon percentage of the actual proceeds that we receive from our sales of natural gas or an agreed-upon percentage of the proceeds based on index related prices for the natural gas, regardless of the actual amount of the sales proceeds we receive. Our revenues under percent-of-proceeds/index arrangements generally correlate to the price of natural gas. Under fee-based arrangements, we receive a fee for storing natural gas. The storage revenues earned are directly related to the volume of natural gas that flows through our systems and are not directly dependent on commodity prices. Marketing Gas Sales We sell production purchased from third parties as well as production from our own oil and gas producing properties. Marketing gas sales are recognized on a gross basis as we purchase and take control of the gas prior to sale and are the principal in the transaction. Recently Adopted Accounting Pronouncement On January 1, 2019, we adopted Accounting Standards Update No. 2016-02, Leases Topic 842

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
ACQUISITIONS	NOTE 3 – ACQUISITIONS Majority Control of Carbon Appalachia On December 31, 2018, we acquired all of Old Ironsides' Class A Units of Carbon Appalachia for approximately $58.1 million. We paid $33.0 million in cash and delivered promissory notes in the aggregate original principal amount of approximately $25.1 million to Old Ironsides (the "Old Ironsides Notes" Prior to the closing of the OIE Membership Acquisition, Old Ironsides held 27,195 Class A Units, which equated to a 72.76% aggregate share ownership of Carbon Appalachia and we held (i) 9,805 Class A Units, (ii) 1,000 Class B Units and (iii) 121 Class C Units, which equated to a 27.24% aggregate share ownership of Carbon Appalachia. The OIE Membership Acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations The following summarizes the estimated fair values of the identifiable assets acquired and liabilities assumed in the acquisition based on their relative fair values at the acquisition date. These estimates of fair value of identifiable assets acquired and liabilities assumed are preliminary, pending final evaluation of certain assets and liabilities, and therefore are subject to revisions that may result in adjustments to the values presented below: Amount Cash consideration $ 33,000 Old Ironsides Notes 25,030 Fair value of previously held equity interest 14,158 Fair value of business acquired $ 72,188 Assets acquired and liabilities assumed are as follows: Amount Cash $ 12,283 Accounts receivable: Revenue 12,834 Trade receivable 1,941 Commodity derivative asset 198 Inventory 2,022 Prepaid expenses, deposits, and other current assets 456 Oil and gas properties: Proved 107,879 Unproved 1,869 Other property, plant and equipment, net 15,441 Other non-current assets 514 Accounts payable and accrued liabilities (20,466 ) Due to related parties (458 ) Firm transportation contract obligations (18,724 ) Asset retirement obligations (5,626 ) Notes payable (37,975 ) Total net assets acquired $ 72,188 On the date of the acquisition, we derecognized our equity investment in Carbon Appalachia and recognized a gain of approximately $1.3 million based on the fair value of our previously held interest compared to its carrying value. Consolidation of Carbon Appalachia and OIE Membership Acquisition Unaudited Pro Forma Results of Operations Below are unaudited pro forma consolidated results of operations for the three and nine months ended September 30, 2018 as though the OIE Membership Acquisition had been completed as of January 1, 2018. Results for the three and nine months ended September 30, 2019 are reflected in the unaudited condensed consolidated statements of operations. Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2018 2018 Revenue $ 27,681 $ 82,521 Net income before non-controlling interests $ 1,729 $ 4,495 Net income (loss) attributable to non-controlling interests $ 270 $ (2,234 ) Net income attributable to controlling interests before preferred shares $ 1,459 $ 6,729 Net income per share, basic $ 0.19 $ 0.90 Net income per share, diluted $ 0.18 $ 0.70 Consolidation of Carbon California Unaudited Pro Forma Results of Operations Below are unaudited pro forma consolidated results of operations for the three and nine months ended September 30, 2018 as though the Carbon California Acquisition occurred on January 1, 2018. Results for the three and nine months ended September 30, 2019 are reflected in the unaudited condensed consolidated statements of operations. Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2018 2018 Revenue $ 12,742 $ 33,256 Net (loss) income before non-controlling interests $ (455 ) $ 5,232 Net income (loss) attributable to non-controlling interests $ 270 $ (2,334 ) Net (loss) income attributable to controlling interests before preferred shares $ (725 ) $ 7,566 Net (loss) income per share, basic $ (0.09 ) $ 1.00 Net (loss) income per share, diluted $ (0.10 ) $ 0.96

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment, net consists of the following: (in thousands) September 30, December 31, Oil and gas properties: Proved oil and gas properties $ 349,550 $ 343,736 Unproved properties not subject to depletion 5,004 5,416 Accumulated depreciation, depletion, amortization and impairment (105,957 ) (95,281 ) Net oil and gas properties 248,597 253,871 Pipeline facilities and equipment 12,714 12,714 Base gas 1,937 2,122 Furniture and fixtures, computer hardware and software, and other equipment 6,733 6,649 Accumulated depreciation and amortization (5,131 ) (3,922 ) Net other property and equipment 16,253 17,563 Property and equipment, net $ 264,850 $ 271,434 As of September 30, 2019, and December 31, 2018, the Company had approximately $5.0 million and $5.4 million, respectively, of unproved oil and gas properties not subject to depletion. Such costs are excluded from the full cost pool until it is determined if reserves can be assigned to the related properties. Subject to industry conditions, evaluation of most of these properties and the inclusion of their costs in the full cost pool is expected to be completed within five years. Unproved properties are assessed for impairment at least annually. During the three and nine months ended September 30, 2019, approximately $513,000 and $719,000 of expiring leasehold costs were reclassified into proved property. There were no expiring leasehold costs during the three and nine months ended September 30, 2018. We capitalized overhead applicable to acquisition, development and exploration activities of approximately $167,000 and $540,000 for the three and nine months ended September 30, 2019, respectively. For the three and nine months ended September 30, 2018, we capitalized overhead applicable to acquisition, development, and exploration activities of approximately $106,000 and $306,000, respectively. Depletion expense related to oil and gas properties for the three and nine months ended September 30, 2019 was approximately $3.7 million and $10.7 million, respectively. Depletion expense related to oil and gas properties for the three and nine months ended September 30, 2018 was approximately $2.4 million and $5.6 million, respectively. For the three and nine months ended September 30, 2019 and 2018, we did not recognize any ceiling test impairments as our full cost pool did not exceed the ceiling limitations.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	NOTE 5 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities at September 30, 2019 and December 31, 2018 consist of the following: (in thousands) September 30, December 31, Accounts payable $ 5,787 $ 7,670 Oil and gas revenue suspense 3,044 2,675 Gathering and transportation payables 1,239 1,774 Production taxes payable 2,838 1,860 Accrued operating costs 681 3,155 Accrued ad valorem taxes – current 5,501 3,474 Accrued general and administrative expenses 2,285 3,111 Accrued asset retirement obligation – current 5,035 3,099 Accrued interest 1,455 955 Accrued gas purchases 2,035 5,440 Other liabilities 886 1,603 Total accounts payable and accrued liabilities $ 30,786 $ 34,816

Asset Retirement Obligation

Asset Retirement Obligation	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation [Abstract]
ASSET RETIREMENT OBLIGATION	NOTE 6 – ASSET RETIREMENT OBLIGATION The Company's asset retirement obligations (" ARO The ARO liability is based on estimated economic lives, estimates of the cost to abandon the wells in the future, and federal and state regulatory requirements. The liability is discounted using a credit-adjusted risk-free rate estimated at the time the liability is incurred or adjusted as a result of a reassessment of expected cash flows and assumptions inherent in the estimation of the liability. Revisions to the liability could occur due to changes in estimated abandonment costs or well economic lives, or if federal or state regulators enact new requirements regarding the abandonment of wells. The following table is a reconciliation of ARO: Nine Months Ended (in thousands) 2019 2018 Balance at beginning of period $ 22,310 $ 7,737 Accretion expense 1,219 510 Additions and revisions 294 3,590 Balance at end of period $ 23,823 $ 11,837 Less: Current portion (5,035 ) (902 ) Non-current portion $ 18,788 $ 10,935

Credit Facilities and Notes Pay

Credit Facilities and Notes Payable	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
CREDIT FACILITIES AND NOTES PAYABLE	NOTE 7 – CREDIT FACILITIES AND NOTES PAYABLE The table below summarizes the outstanding credit facilities and notes payable: (in thousands) September 30, December 31, 2018 Credit Facility – revolver $ 71,150 $ 69,150 2018 Credit Facility – term note 8,333 15,000 Old Ironsides Notes 24,826 25,065 Other debt 58 57 Total debt 104,367 109,272 Less: unamortized debt discount (67 ) (134 ) Total credit facilities and notes payable 104,300 109,138 Current portion of credit facilities and notes payable (8,266 ) (11,910 ) Non-current debt, net of current portion and unamortized debt discount $ 96,034 $ 97,228 Carbon Appalachia 2018 Credit Facility In connection with and concurrently with the closing of the OIE Membership Acquisition, the Company and its subsidiaries amended and restated our prior credit facilities and entered into a $500.0 million senior secured asset-based revolving credit facility maturing December 31, 2022 and a $15.0 million term loan maturing in 2020 (the "2018 Credit Facility" "CAE" "Borrowers" The 2018 Credit Facility is guaranteed by each existing and future direct or indirect subsidiary of the Borrowers and certain other subsidiaries of the Company (subject to various exceptions) and the obligations under the 2018 Credit Facility are secured by essentially all tangible, intangible and real property (subject to certain exclusions). Interest accrues on borrowings under the 2018 Credit Facility at a rate per annum equal to either (i) the base rate plus a margin equal to 0.25% - 0.75% depending on the utilization percentage or (ii) the Adjusted London interbank offered rate (" LIBOR The 2018 Credit Facility also provides for a $15.0 million term loan which bears interest at a rate of 6.25% and is payable in 18 equal monthly installments beginning February 1, 2019 with the last payment due on July 1, 2020. The 2018 Credit Facility contains certain affirmative and negative covenants that, among other things, limit the Borrowers' ability to (i) incur additional debt; (ii) incur additional liens; (iii) sell, transfer or dispose of assets; (iv) merge or consolidate, wind-up, dissolve or liquidate; (v) make dividends and distribution on, or repurchase of, equity; (vi) make certain investments; (vii) enter into certain transactions with their affiliates; (viii) enter in sale-leaseback transactions; (ix) make optional or voluntary payment of debt other than obligations under the 2018 Credit Facility; (x) change the nature of their business; (xi) change their fiscal year or make changes to the accounting treatment or reporting practices; (xii) amend their constituent documents; and (xiii) enter into certain hedging transactions. The affirmative and negative covenants are subject to various exceptions, including certain basket amounts and acceptable transaction levels. In addition, the 2018 Credit Facility requires the Borrowers' compliance, on a consolidated basis, with a maximum Net Debt (all debt of the Borrowing Parties minus all unencumbered cash and cash equivalents of the Borrowers not to exceed $3.0 million) / EBITDAX (as defined) ratio of 3.50 to 1.00 and a current ratio, as defined, minimum of 1.00 to 1.00, tested quarterly, commencing with the quarter ending March 31, 2019. In August 2019, we amended the 2018 Credit Facility, effective October 1, 2019, to restrict the aging of our accounts payable to 90 days or less, maintain minimum liquidity of $3.0 million and require the sale of certain non-core assets by December 31, 2019. As of September 30, 2019, there was approximately $71.2 million in outstanding borrowings and $3.8 million of additional borrowing capacity under the 2018 Credit Facility. As of September 30, 2019, we were in compliance with our financial covenants. The terms of the 2018 Credit Facility require us to enter into derivative contracts at fixed pricing for a certain percentage of our production. We are party to an International Swaps and Derivatives Association Master Agreements (" ISDA Master Agreements Fees paid in connection with the 2018 Credit Facility totaled approximately $779,000, of which $134,000 was associated with the term loan. The current portion of unamortized fees associated with the credit facility is included in prepaid expense, deposits and other current assets and the non-current portion is included in other non-current assets. The unamortized portion associated with the term loan was $67,000 as of September 30, 2019 and is directly offset against the loan in current liabilities. As of September 30, 2019, we had unamortized deferred issuance costs of approximately $524,000 associated with the 2018 Credit Facility. During the three and nine months ended September 30, 2019, we amortized approximately $63,000 and $188,000, respectively, as interest expense associated with the 2018 Credit Facility. Old Ironsides Notes On December 31, 2018, as part of the OIE Membership Acquisition, we delivered unsecured, promissory notes in the aggregate original principal amount of approximately $25.1 million to Old Ironsides (the " Old Ironsides Notes The interest payable under the Old Ironsides Notes can be paid-in-kind at the election of the Company. This provision allows the Company to increase the principal balance associated with the Old Ironsides Notes. This election creates a second tranche of principal, which bears interest at 12.0% per annum. For the nine months ended September 30, 2019, the Company elected payment-in-kind interest of approximately $1.8 million. Carbon California The table below summarizes the outstanding notes payable – related party: (in thousands) September 30, December 31, Senior Revolving Notes, related party, due February 15, 2022 $ 32,800 $ 38,500 Subordinated Notes, related party, due February 15, 2024 13,000 13,000 Total principal 45,800 51,500 Less: Deferred notes costs (185 ) (235 ) Less: unamortized debt discount (1,150 ) (1,346 ) Total notes payable – related party $ 44,465 $ 49,919 Senior Revolving Notes, Related Party On February 15, 2017, Carbon California entered into a Note Purchase Agreement (the " Note Purchase Agreement " Senior Revolving Notes Carbon California may elect to incur interest at either (i) 5.50% plus LIBOR or (ii) 4.50% plus the Prime Rate (which is defined as the interest rate published daily by JPMorgan Chase Bank, N.A.). As of September 30, 2019, the effective borrowing rate for the Senior Revolving Notes was 7.60%. In addition, the Senior Revolving Notes include a commitment fee for any unused amounts at 0.50% as well as an annual administrative fee of $75,000, payable on February 15 each year. The Senior Revolving Notes are secured by all the assets of Carbon California. The Senior Revolving Notes require Carbon California, as of January 1 and July 1 of each year, to hedge its anticipated proved developed production at such time for year one, two and three at a rate of 75%, 65% and 50%, respectively. Carbon California may make principal payments in minimum installments of $500,000. Distributions to equity members are generally restricted. Carbon California incurred fees directly associated with the issuance of the Senior Revolving Notes and amortizes these fees over the life of the Senior Revolving Notes. The current portion of these fees are included in prepaid expense and deposits and the long-term portion is included in other non-current assets for a combined value of approximately $669,000. For the three and nine months ended September 30, 2019, Carbon California amortized fees of $70,000 and $202,000, respectively. Carbon California may at any time repay the Senior Revolving Notes, in whole or in part, without penalty. Carbon California must pay down Senior Revolving Notes or provide mortgages of additional oil and natural gas properties to the extent that outstanding loans and letters of credit exceed the borrowing base. Subordinated Notes, Related Party On February 15, 2017, Carbon California entered into a Securities Purchase Agreement (the " Securities Purchase Agreement Subordinated Notes Prudential received an additional 1,425 Class A Units, representing 5.0% of the total sharing percentage, for the issuance of the Subordinated Notes. Carbon California valued this unit issuance based on the relative fair value by valuing the units at $1,000 per unit and aggregating the amount with the outstanding Subordinated Notes of $10.0 million. The Company then allocated the non-cash value of the units of approximately $1.3 million, which was recorded as a discount to the Subordinated Notes. As of September 30, 2019, Carbon California has an outstanding discount of approximately $780,000, which is presented net of the Subordinated Notes within Notes payable-related party on the unaudited condensed consolidated balance sheets. During the three and nine months ended September 30, 2019, Carbon California amortized $45,000 and $134,000, respectively, associated with the Subordinated Notes. The Subordinated Notes require Carbon California, as of January 1 and July 1 of each year, to hedge its anticipated production at such time for year one, two and three at a rate of 67.5%, 58.5% and 45.0%, respectively. Prepayment of the Subordinated Notes is allowed at 100%, subject to a 3.0% fee of outstanding principal. Prepayment is not subject to a prepayment fee after February 17, 2020. Distributions to equity members are generally restricted. 2018 Subordinated Notes, Related Party On May 1, 2018, Carbon California entered into an agreement with Prudential for the issuance and sale of $3.0 million in subordinated notes due February 15, 2024, bearing interest of 12.0% per annum (the " 2018 Subordinated Notes Prudential received 585 Class A Units, representing an approximate 2.0% additional sharing percentage, for the issuance of the 2018 Subordinated Notes. Carbon California valued this unit issuance based on the relative fair value by valuing the units at $1,000 per unit and aggregating the amount with the outstanding 2018 Subordinated Notes of $3.0 million. The Company then allocated the non-cash value of the units of approximately $490,000, which was recorded as a discount to the 2018 Subordinated Notes. As of September 30, 2019, Carbon California had an outstanding discount of $370,000 associated with these notes, which is presented net of the 2018 Subordinated Notes within Notes payable - related party on the unaudited condensed consolidated balance sheets. During the three and nine months ended September 30, 2019, Carbon California amortized $21,000 and $63,000, respectively, associated with the 2018 Subordinated Notes. The 2018 Subordinated Notes require Carbon California, as of January 1 and July 1 of each year, to hedge its anticipated production at such time for year one, two and three at a rate of 67.5%, 58.5% and 45.0%, respectively. Prepayment of the 2018 Subordinated Notes is allowed at 100%, subject to a 3.0% fee of outstanding principal. Prepayment is not subject to a prepayment fee after February 17, 2020. Distributions to equity members are generally restricted. Restrictions and Covenants The Senior Revolving Notes, Subordinated Notes and 2018 Subordinated Notes contain affirmative and negative covenants that, among other things, limit Carbon California's ability to (i) incur additional debt; (ii) incur additional liens; (iii) sell, transfer or dispose of assets; (iv) merge or consolidate, wind-up, dissolve or liquidate; (v) make dividends and distributions on, or repurchases of, equity; (vi) make certain investments; (vii) enter into certain transactions with our affiliates; (viii) enter into sales-leaseback transactions; (ix) make optional or voluntary payments of debt; (x) change the nature of our business; (xi) change our fiscal year to make changes to the accounting treatment or reporting practices; (xii) amend constituent documents; and (xiii) enter into certain hedging transactions. The affirmative and negative covenants are subject to various exceptions, including basket amounts and acceptable transaction levels. In addition, (i) the Senior Revolving Notes require Carbon California's compliance with (A) a maximum Debt/EBITDA ratio of 4.0 to 1.0 (B) a maximum Senior Revolving Notes/EBITDA ratio of 2.5 to 1.0, (C) a minimum interest coverage ratio of 2.0 to 1.0 and (D) a minimum current ratio of 1.0 to 1.0 and (ii) the Subordinated Notes require Carbon California's compliance with (A) a maximum Debt/EBITDA ratio of 4.75 to 1.0, (B) a maximum Senior Revolving Notes/EBITDA ratio of 3.0 to 1.0, (C) a minimum interest coverage ratio of 1.6 to 1.0, (D) an asset coverage test whereby indebtedness may not exceed the product of 0.65 times Adjusted PV-10 set forth in the most recent reserve report, (E) maintenance of a minimum borrowing base of $10.0 million under the Senior Revolving Notes and (F) a minimum current ratio of 0.85 to 1.00. As of September 30, 2019, Carbon California was not in compliance with its Senior Revolving Notes/EBITDA ratio. We are currently negotiating an amendment to the covenant requirements with Prudential, a 46.08% owner of Carbon California, and are confident we will be successful in amending the covenants. While we have historically been successful in renegotiating covenant requirements with our lenders, there can be no assurance that we will be able to do so successfully in the future.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
LEASES	NOTE 8 – LEASES On January 1, 2019, we adopted Topic 842. Results for reporting periods beginning January 1, 2019 are presented in accordance with Topic 842, while prior period amounts are reported in accordance with Topic 840 – Leases The lease amounts disclosed herein are presented on a gross basis. A portion of these costs may have been or will be billed to other working interest owners, and our net share of these costs, once paid, are included in lease operating expenses, pipeline operating expenses or general and administrative expenses, as applicable. Our right-of-use assets and lease liabilities are recognized at their discounted present value on the balance sheet. All leases recognized on our unaudited condensed consolidated balance sheet are classified as operating leases, which include leases related to the asset classes reflected in the table below: (in thousands) Right-of-Use Assets Lease Compressors $ 3,459 $ 3,459 Corporate leases 2,225 2,239 Vehicles 839 715 Total $ 6,523 $ 6,413 We recognize lease expense on a straight-line basis excluding short-term and variable lease payments which are recognized as incurred. Short-term lease cost represents payments for leases with a lease term of twelve months or less, excluding leases with a term of one month or less. Short-term leases include certain compressors and vehicles that have a non-cancellable lease term of less than one year. The following table summarizes the components of our gross operating lease costs incurred during the three and nine months ended September 30, 2019: (in thousands) Three Months Ended Nine Months Ended Operating lease cost $ 530 $ 1,598 Short-term lease cost 156 473 Total lease cost $ 686 $ 2,071 We do not have any leases with an implicit interest rate that can be readily determined. As a result, we calculate collateralized incremental borrowing rates to use as discount rates. We utilize the benchmark rates defined in our credit facilities, and adjust for facility utilization and term considerations, to establish collateralized incremental borrowing rates. See Note 7 for additional information on our credit facilities. Our weighted-average lease term and discount rate used are as follows: September 30, Weighted-average lease term (years) 3.82 Weighted-average discount rate 6.36 % The following table summarizes supplemental cash flow information related to operating leases: (in thousands) Nine Months Ended Cash paid for operating leases $ 1,707 Right-of-use assets obtained in exchange for operating lease obligations $ 465 Minimum future commitments by year for our long-term operating leases as of September 30, 2019 are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized on the balance sheet as follows: (in thousands) Amount Remainder of 2019 $ 505 2020 1,960 2021 1,902 2022 1,704 2023 1,157 Thereafter 10 Total future minimum lease payments $ 7,238 Less: imputed interest (825 ) Total lease liabilities $ 6,413

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]
REVENUE	NOTE 9 – REVENUE The following tables present our disaggregated revenue by primary region within the United States and major product line: For the three months ended September 30, 2019 and 2018 (in thousands): Appalachian and Illinois Basins Ventura Basin Total Three Months Ended Three Months Ended Three Months Ended 2019 2018 2019 2018 2019 2018 Natural gas sales $ 11,962 $ 3,856 $ 1 $ 516 $ 11,963 $ 4,372 Natural gas liquids sales - - 10 406 10 406 Oil sales 1,327 3,327 7,722 8,523 9,049 11,850 Transportation and handling 304 - - - 304 - Marketing gas sales 3,491 - - - 3,491 - Total $ 17,084 $ 7,183 $ 7,733 $ 9,445 $ 24,817 $ 16,628 For the nine months ended September 30, 2019 and 2018 (in thousands): Appalachian and Illinois Basins Ventura Basin Total Nine Months Ended Nine Months Ended Nine Months Ended 2019 2018 2019 2018 2019 2018 Natural gas sales $ 44,633 $ 10,776 $ 862 $ 1,059 $ 45,495 $ 11,835 Natural gas liquids sales - - 451 1,119 451 1,119 Oil sales 4,422 5,952 23,518 16,972 27,940 22,924 Transportation and handling 1,361 - - - 1,361 - Marketing gas sales 11,656 - - - 11,656 - Total $ 62,072 $ 16,728 $ 24,831 $ 19,150 $ 86,903 $ 35,878 We record revenue in the month production is delivered to the purchaser, but settlement statements may not be received until 30 to 90 days after the month of production. As such, we estimate the production delivered and the related pricing. The estimated revenue is recorded within Accounts receivable – Revenue on the unaudited condensed consolidated balance sheets. Any differences between our initial estimates and actuals are recorded in the month payment is received from the customer. These differences have not historically been material. Revenue recognized for the nine months ended September 30, 2019, that related to performance obligations satisfied in prior reporting periods was immaterial.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLANS	NOTE 10 – STOCK-BASED COMPENSATION PLANS We have three stock plans, the Carbon 2011 Stock Incentive Plan, the Carbon 2015 Stock Incentive Plan and the Carbon 2019 Long Term Incentive Plan (collectively the " Carbon Plans The Carbon Plans provide for the granting of incentive stock options, non-qualified stock options, restricted stock awards, performance awards and phantom stock awards, or a combination of the foregoing, to employees, officers, directors or consultants, provided that only employees may be granted incentive stock options and directors may only be granted restricted stock awards and phantom stock awards. Restricted Stock As of September 30, 2019, approximately 748,000 shares of restricted stock have been granted under the terms of the Carbon Plans. Restricted stock awards for employees vest ratably over a three-year service period or cliff vest at the end of a three-year service period. For non-employee directors, the awards vest upon the earlier of a change in control of us or the date their membership on the Board of Directors is terminated other than for cause. During the nine months ended September 30, 2019, approximately 105,000 restricted stock units vested. Compensation costs recognized for these restricted stock grants were approximately $204,000 and $607,000 for the three and nine months ended September 30, 2019, respectively, and approximately $187,000 and $537,000 for the three and nine months ended September 30, 2018, respectively. As of September 30, 2019, there was approximately $1.5 million unrecognized compensation costs related to these restricted stock grants which we expect to be recognized over the next 6.5 years. Restricted Performance Units As of September 30, 2019, approximately 699,000 shares of performance units have been granted under the terms of the Carbon Plans. Performance units represent a contractual right to receive one share of our common stock subject to the terms and conditions of the agreements, including the achievement of certain performance measures relative to a defined peer group or the growth of certain performance measures over a defined period of time as well as, in some cases, continued service requirements. During the nine months ended September 30, 2019, approximately 95,000 performance units vested. We account for the performance units granted during 2017 through 2019 at their fair value determined at the date of grant, which were $7.20, $9.80 and $10.00 per share, respectively. The final measurement of compensation cost will be based on the number of performance units that ultimately vest. At September 30, 2019, we estimated that none of the performance units granted in 2017 through 2019 would vest, and, accordingly, no compensation cost has been recorded for these performance units. We estimated that it was probable that the performance units granted in 2015 and 2016 would vest and therefore compensation costs of approximately $43,000 and $135,000 related to these performance units were recognized for the nine months ended September 30, 2019 and 2018, respectively. As of September 30, 2019, compensation costs related to the performance units granted in 2015 and 2016 have been fully recognized. As of September 30, 2019, if change in control and other performance provisions pursuant to the terms and conditions of these award agreements are met in full, the estimated unrecognized compensation cost related to outstanding performance units would be approximately $3.8 million.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER COMMON SHARE	NOTE 11 – EARNINGS (LOSS) PER COMMON SHARE Basic earnings (loss) per common share is computed by dividing the net income (loss) attributable to common stockholders for the period by the basic weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share includes potentially issuable shares consisting primarily of non-vested restricted stock and contingent restricted performance units, using the treasury stock method. In periods when we report a net loss, all common stock equivalents are excluded from the calculation of diluted weighted average shares outstanding because they would have an anti-dilutive effect, meaning the loss per share would be reduced. For the three months ended September 30, 2019 and 2018, approximately 275,000 and 497,000 shares, respectively, and for the nine months ended September 30, 2019 and 2018, approximately 275,000 and 280,000 shares, respectively, were considered anti-dilutive and were excluded from the computation of diluted earnings per share. The following table sets forth the calculation of basic and diluted income (loss) per share: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2019 2018 2019 2018 Net income (loss) attributable to controlling interests before preferred shares $ 3,182 $ (725 ) $ 5,311 $ 2,264 Less: net income attributable to preferred shares – preferred return 75 - 225 - Net income (loss) attributable to common stockholders, basic 3,107 (725 ) 5,086 2,264 Less: warrant derivative gain - - - (225 ) Less: beneficial conversion feature - - - (1,125 ) Less: deemed dividend for convertible preferred shares - (77 ) - (147 ) Net income (loss) attributable to common stockholders, diluted 3,107 (802 ) 5,086 767 Weighted-average number of common shares outstanding, basic 7,839 7,701 7,780 7,466 Add dilutive effects of non-vested shares of restricted stock and restricted performance units 302 - 302 315 Weighted-average number of common shares outstanding, diluted 8,141 7,701 8,082 7,781 Net income (loss) per common share, basic $ 0.40 $ (0.09 ) $ 0.65 $ 0.30 Net income (loss) per common share, diluted $ 0.38 $ (0.10 ) $ 0.63 $ 0.10 Series B Convertible Preferred Stock - Related Party In connection with the closing of the Seneca Acquisition, we raised $5.0 million through the issuance of 50,000 shares of Series B Convertible Preferred Stock, par value $0.01 per share ("Preferred Stock") to Yorktown. The Preferred Stock converts into common stock at the election of the holder or will automatically convert into shares of our common stock upon completion of a qualifying equity financing event. The number of shares of common stock issuable upon conversion is dependent upon the price per share of common stock issued in connection with any such qualifying equity financing but has a floor conversion price equal to $8.00 per share. The conversion ratio at which the Preferred Stock will convert into common stock is equal to an amount per share of $100 plus all accrued but unpaid dividends payable in respect thereof divided by the greater of (i) $8.00 per share or (ii) the price that is 15.0% less than the lowest price per share of shares sold to the public in the next equity financing. Using the floor of $8.00 per share would yield 12.5 shares of common stock for every unit of Preferred Stock. The conversion price will be proportionately increased or decreased to reflect changes to the outstanding shares of common stock, such as the result of a combination, reclassification, subdivision, stock split, stock dividend or other similar transaction involving the common stock. Additionally, after the third anniversary of the issuance of the Preferred Stock, we have the option to redeem the shares for cash. The Preferred Stock accrues cash dividends at a rate of 6.0% of the initial issue price of $100 per share per annum. The holders of the Preferred Stock are entitled to the same number of votes of common stock that such share of Preferred Stock would represent on an as converted basis. The holders of the Preferred Stock receive liquidation preference based on the initial issue price of $100 per share plus a preferred return over common stockholders and the holders of any junior ranking stock. The preferred return was approximately $449,000 as of September 30, 2019 and increased by $225,000 during the nine months ended September 30, 2019.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 12 – INCOME TAXES We recognize deferred income tax assets and liabilities for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We have net operating loss carryforwards available in certain jurisdictions to reduce future taxable income. Future tax benefits from net operating loss carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. To the extent that available evidence raises doubt about the realization of a deferred income tax asset, a valuation allowance is established. At September 30, 2019, the Company has established a full valuation allowance against the balance of net deferred tax assets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 13 – FAIR VALUE MEASUREMENTS The following table presents our financial assets and liabilities that were accounted for at fair value on a recurring basis by level: (in thousands) Fair Value Measurements Using Level 1 Level 2 Level 3 Total September 30, 2019 Assets: Commodity derivatives $ - $ 9,794 $ - $ 9,794 December 31, 2018 Assets: Commodity derivatives $ - $ 7,022 $ - $ 7,022 Commodity Derivative As of September 30, 2019, our commodity derivative financial instruments are comprised of natural gas and oil swaps and costless collars. The fair values of these agreements are determined under an income valuation technique. The valuation model requires a variety of inputs, including contractual terms, published forward prices, volatilities for options and discount rates, as appropriate. Our estimates of fair value of derivatives include consideration of the counterparty's credit worthiness, our credit worthiness and the time value of money. The consideration of these factors results in an estimated exit-price for each derivative asset or liability under a market place participant's view. All the significant inputs are observable, either directly or indirectly; therefore, our derivative instruments are included within the Level 2 fair value hierarchy. Assets and Liabilities Measured and Recorded at Fair Value on a Non-Recurring Basis The fair value of each of the following assets and liabilities measured and recorded at fair value on a non-recurring basis are based on unobservable pricing inputs and therefore, are included within the Level 3 fair value hierarchy. The fair value of the non-controlling interests in the partnerships we are required to consolidate was determined based on the net discounted cash flows of the proved developed producing properties attributable to the non-controlling interests in these partnerships. We assume, at times, certain firm transportation contracts as part of our acquisitions of oil and natural gas properties. The fair value of the firm transportation contract obligations was determined based upon the contractual obligations assumed by us and discounted based upon our effective borrowing rate. The fair value measurements associated with the assets acquired and liabilities assumed in the business combination for the OIE Membership Acquisition of Carbon Appalachia are outlined within Note 3. Debt Discount The fair value of the debt discount from the 1,425 and 585 additional Class A Units issued in connection with the Subordinated Notes and 2018 Subordinated Notes was $1.3 million and $490,000, respectively. The debt discount was a Level 3 fair value assessment and was based on the relative fair value of Class A Units. Class A Units were issued contemporaneously at $1,000 per Class A Unit. Asset Retirement Obligation The fair value of our asset retirement obligation liability is recorded in the period in which it is incurred or assumed by taking into account the cost of abandoning oil and gas wells ranging from $20,000 to $45,000, which is based on our historical experience and industry expectations for similar work; the estimated timing of reclamation ranging from one to 75 years based on estimates from reserve engineers; an inflation rate between 1.52% to 2.79%; and a credit adjusted risk-free rate between 3.28% to 8.27%, which takes into account our credit risk and the time value of money. Given the unobservable nature of the inputs, the initial measurement of the asset retirement obligation liability is deemed to use Level 3 inputs. During the nine months ended September 30, 2019, we did not record any additions to asset retirement obligations. We use the income valuation technique to estimate the fair value of asset retirement obligations using the amounts and timing of expected future dismantlement costs, credit-adjusted risk-free rates and time value of money. Class B Units We received Class B units from Carbon California and Carbon Appalachia as part of the entry into the Carbon California LLC Agreement and Carbon Appalachia LLC Agreement, respectively. We estimated the fair value of the Class B units, in each case, by utilizing the assistance of third-party valuation specialists. The fair values were based upon enterprise values derived from inputs including estimated future production rates, future commodity prices including price differentials as of the dates of closing, future operating and development costs and comparable market participants.

Commodity Derivatives

Commodity Derivatives	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
COMMODITY DERIVATIVES	NOTE 14 – COMMODITY DERIVATIVES We historically use commodity-based derivative contracts to manage exposures to commodity price on a portion of our oil and natural gas production. We do not hold or issue derivative financial instruments for speculative or trading purposes. We also have entered into, on occasion, oil and natural gas physical delivery contracts to effectively provide commodity price hedges. Because these contracts are not expected to be net cash settled, they are considered to be normal sales contracts and not derivatives. These contracts are not recorded at fair value in the unaudited condensed consolidated financial statements. We have entered into swap and costless collar derivative agreements to hedge a portion of our oil and natural gas production through 2022. As of September 30, 2019, these derivative agreements consisted of the following: Natural Gas Swaps* Natural Gas Collars* Weighted Weighted Year MMBtu Price (a) MMBtu Range (a) 2019 3,735,000 $ 2.83 92,000 $ 2.60 – $3.03 2020 12,433,000 $ 2.73 1,128,0000 $ 2.40 – $2.75 2021 6,448,000 $ 2.58 65,000 $ 2.40 – $2.75 Oil Swaps* Oil Collars* Year WTI Bbl Weighted Average Price (b) Brent Bbl Weighted Average Price (c) WTI Bbl Weighted Average Price (b) Brent Bbl Weighted Average Price (c) 2019 70,835 $ 53.36 54,091 $ 65.45 5,200 $ 47.50 - $57.35 16,400 $ 47.00 - $75.00 2020 121,147 $ 55.37 162,482 $ 65.67 28,200 $ 47.00 - $60.15 57,900 $ 47.00 - $75.00 2021 - $ - 86,341 $ 67.12 49,500 $ 47.00 - $60.15 130,800 $ 47.00 - $75.00 2022 - $ - - $ - - $ - 90,800 $ 50.00 - $61.00 * Includes 100% of Carbon California's outstanding derivative hedges at September 30, 2019, and not our proportionate share. (a) NYMEX Henry Hub Natural Gas futures contract for the respective period. (b) NYMEX Light Sweet Crude West Texas Intermediate futures contract for the respective period. (c) Brent future contracts for the respective period. For our swap instruments, we receive a fixed price for the hedged commodity and pay a floating price to the counterparty. The fixed-price payment and the floating-price payment are netted, resulting in a net amount due to or from the counterparty. Costless collars are designed to establish floor and ceiling prices on anticipated future oil and gas production. The ceiling establishes a maximum price that the Company will receive for the volumes under contract, while the floor establishes a minimum price. The following table summarizes the fair value of the derivatives recorded in the unaudited condensed consolidated balance sheets. These derivative instruments are not designated as cash flow hedging instruments for accounting purposes: (in thousands) September 30, December 31, Commodity derivative contracts: Commodity derivative asset $ 6,722 $ 3,517 Commodity derivative asset – non-current $ 3,072 $ 3,505 The table below summarizes the commodity settlements and unrealized gains and losses related to the Company's derivative instruments for the three and nine months ended September 30, 2019 and 2018. These commodity derivative settlements and unrealized gains and losses are recorded and included in commodity derivative income or loss in the accompanying unaudited condensed consolidated statements of operations. Three Months Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Commodity derivative contracts: Settlement gains (losses) $ 2,429 $ (1,108 ) $ 2,198 $ (2,169 ) Unrealized gains (losses) 3,166 (2,794 ) 2,771 (8,381 ) Total settlement and unrealized gains (losses), net $ 5,595 $ (3,902 ) $ 4,969 $ (10,550 ) Commodity derivative settlement gains and losses are included in cash flows from operating activities in our unaudited condensed consolidated statements of cash flows. We net our derivative instrument fair value amounts pursuant to ISDA Master Agreements, which provide for the net settlement over the term of the contracts and in the event of default or termination of the contracts. The following table summarizes the effect of netting arrangements for recognized derivative assets and liabilities that are subject to master netting arrangements or similar arrangements in the unaudited condensed consolidated balance sheet as of September 30, 2019. Net Gross Recognized Recognized Gross Fair Value Assets/ Amounts Assets/ Balance Sheet Classification (in thousands) Liabilities Offset Liabilities Commodity derivative assets: Commodity derivative asset $ 7,236 $ (514 ) $ 6,722 Commodity derivative asset – non-current 4,275 (1,203 ) 3,072 Total derivative assets $ 11,511 $ (1,717 ) $ 9,794 Commodity derivative liabilities: Commodity derivative liability $ (514 ) $ 514 $ - Commodity derivative liability – non-current (1,203 ) 1,203 - Total derivative liabilities $ (1,717 ) $ 1,717 $ - Due to the volatility of oil and natural gas prices, the estimated fair value of our derivatives are subject to fluctuations from period to period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 15 – COMMITMENTS AND CONTINGENCIES Delivery Commitments We have entered into firm transportation contracts to ensure the transport for certain of our gas production to purchasers. Firm transportation volumes and the related demand charges for the remaining term of these contracts as of September 30, 2019 are summarized in the table below. Period Dekatherms Demand Charges Oct 2019 – Mar 2020 58,871 $ 0.20 - 0.62 Apr 2020 – May 2020 57,791 $ 0.20 - 0.56 Jun 2020 – Oct 2020 56,641 $ 0.20 - 0.56 Nov 2020 – Aug 2022 50,341 $ 0.20 - 0.56 Sep 2022 – May 2027 30,990 $ 0.20 - 0.21 Jun 2027 – May 2036 1,000 $ 0.20 As of September 30, 2019, the remaining commitment related to the firm transportation contracts assumed in the EXCO Acquisition in October 2016 and the OIE Membership Acquisition is $15.6 million and reflected in the Company's unaudited condensed consolidated balance sheet. These contractual obligations are reduced monthly as the Company pays these firm transportation obligations. Natural gas processing agreement We have entered into an initial five-year gas processing agreement expiring in 2022. We have an option to extend the term of the agreement by another five years. The related demand charges for volume commitments over the remaining term of the agreement are approximately $1.8 million per year. We will pay a processing fee of $2.50 per Mcf for the term of the agreement, with a minimum annual volume commitment of 720,000 Mcf. Capital Commitments As of September 30, 2019, we had no capital commitments.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosure	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURE	NOTE 16 – SUPPLEMENTAL CASH FLOW DISCLOSURE Supplemental cash flow disclosures for the nine months ended September 30, 2019 and 2018 are presented below: Nine Months Ended (in thousands) 2019 2018 Cash paid during the period for: Interest $ 6,897 $ 2,770 Non-cash transactions: Capital expenditures included in accounts payable and accrued liabilities $ (1,195 ) $ (491 ) Adjustments to OIE Membership Acquisition purchase price $ 1,317 $ - Increase in asset retirement obligations $ - $ 3,590 Non-cash acquisition of Carbon California interests $ - $ (18,906 ) Carbon California Acquisition on February 1, 2018 $ - $ 17,114 Obligations assumed with Seneca asset purchase $ - $ 330 Accrued dividend for convertible preferred stock $ - $ 148 Beneficial conversion feature for convertible preferred stock $ - $ 1,125 Exercise of warrant derivative $ - $ (1,792 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (" SEC GAAP
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of our consolidated subsidiaries. Upon the closing of the OIE Membership Acquisition on December 31, 2018, we own 100% of Carbon Appalachia. In addition, we own 100% of Nytis USA, which owns approximately 98.11% of Nytis LLC. Nytis LLC holds interests in various oil and gas partnerships. Partnerships and subsidiaries in which we have a controlling interest are consolidated. We are currently consolidating 46 partnerships, Carbon Appalachia, and Carbon California, and we reflect the non-controlling ownership interest in partnerships and subsidiaries as non-controlling interests on our unaudited condensed consolidated statements of operations and also reflect the non-controlling ownership interest in the net assets of the partnerships as non-controlling interests within stockholders' equity on our unaudited condensed consolidated balance sheets. All significant intercompany accounts and transactions have been eliminated. In accordance with established practice in the oil and gas industry, our unaudited condensed consolidated financial statements also include our pro-rata share of assets, liabilities, income, lease operating costs and general and administrative expenses of the oil and gas partnerships in which we have a non-controlling interest. Non-majority owned investments that do not meet the criteria for pro-rata consolidation are accounted for using the equity method when we have the ability to significantly influence the operating decisions of the investee. When we do not have the ability to significantly influence the operating decisions of an investee, the cost method is used. All transactions, if any, with investees have been eliminated in the accompanying unaudited condensed consolidated financial statements.
Reclassifications	Reclassifications Certain prior period balances in the consolidated balance sheets and statements of operations have been reclassified to conform to the current year presentation. Specifically, a portion of credit facilities and notes payable balances as of December 31, 2018 were reclassified from non-current liabilities to current liabilities. This reclassification had no impact on net income, cash flows or stockholders' equity previously reported.
Insurance Receivable	Insurance Receivable Insurance receivable is comprised of insurance claims for the loss of property as a result of wildfires that impacted Carbon California in December 2017. The Company filed claims with its insurance provider. In January 2019, we reached a settlement agreement and received an $800,000 final settlement payment from our insurance provider related to the damage caused by the California wildfires. As of September 30, 2019, we were in receipt of all funds associated with the claims.
Revenue	Revenue Upon completion of the OIE Membership Acquisition, our revenue recognition policy was amended to account for the additional revenue we receive for transportation and handling and marketing gas sales, as described below. Transportation and Handling We generally purchase natural gas from producers at the wellhead or other receipt points, gather the wellhead natural gas through our gathering systems, and then sell the natural gas based on published index market prices. We remit to the producers either an agreed-upon percentage of the actual proceeds that we receive from our sales of natural gas or an agreed-upon percentage of the proceeds based on index related prices for the natural gas, regardless of the actual amount of the sales proceeds we receive. Our revenues under percent-of-proceeds/index arrangements generally correlate to the price of natural gas. Under fee-based arrangements, we receive a fee for storing natural gas. The storage revenues earned are directly related to the volume of natural gas that flows through our systems and are not directly dependent on commodity prices. Marketing Gas Sales We sell production purchased from third parties as well as production from our own oil and gas producing properties. Marketing gas sales are recognized on a gross basis as we purchase and take control of the gas prior to sale and are the principal in the transaction.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncement On January 1, 2019, we adopted Accounting Standards Update No. 2016-02, Leases Topic 842

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2019
OIE Membership Acquisition [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Schedule of assets acquired and liabilities assumed	Amount Cash consideration $ 33,000 Old Ironsides Notes 25,030 Fair value of previously held equity interest 14,158 Fair value of business acquired $ 72,188 Amount Cash $ 12,283 Accounts receivable: Revenue 12,834 Trade receivable 1,941 Commodity derivative asset 198 Inventory 2,022 Prepaid expenses, deposits, and other current assets 456 Oil and gas properties: Proved 107,879 Unproved 1,869 Other property, plant and equipment, net 15,441 Other non-current assets 514 Accounts payable and accrued liabilities (20,466 ) Due to related parties (458 ) Firm transportation contract obligations (18,724 ) Asset retirement obligations (5,626 ) Notes payable (37,975 ) Total net assets acquired $ 72,188
Schedule of unaudited pro-forma consolidated results	Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2018 2018 Revenue $ 27,681 $ 82,521 Net income before non-controlling interests $ 1,729 $ 4,495 Net income (loss) attributable to non-controlling interests $ 270 $ (2,234 ) Net income attributable to controlling interests before preferred shares $ 1,459 $ 6,729 Net income per share, basic $ 0.19 $ 0.90 Net income per share, diluted $ 0.18 $ 0.70
Carbon California [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Schedule of unaudited pro-forma consolidated results	Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2018 2018 Revenue $ 12,742 $ 33,256 Net (loss) income before non-controlling interests $ (455 ) $ 5,232 Net income (loss) attributable to non-controlling interests $ 270 $ (2,334 ) Net (loss) income attributable to controlling interests before preferred shares $ (725 ) $ 7,566 Net (loss) income per share, basic $ (0.09 ) $ 1.00 Net (loss) income per share, diluted $ (0.10 ) $ 0.96

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of net property and equipment	(in thousands) September 30, December 31, Oil and gas properties: Proved oil and gas properties $ 349,550 $ 343,736 Unproved properties not subject to depletion 5,004 5,416 Accumulated depreciation, depletion, amortization and impairment (105,957 ) (95,281 ) Net oil and gas properties 248,597 253,871 Pipeline facilities and equipment 12,714 12,714 Base gas 1,937 2,122 Furniture and fixtures, computer hardware and software, and other equipment 6,733 6,649 Accumulated depreciation and amortization (5,131 ) (3,922 ) Net other property and equipment 16,253 17,563 Property and equipment, net $ 264,850 $ 271,434

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	(in thousands) September 30, December 31, Accounts payable $ 5,787 $ 7,670 Oil and gas revenue suspense 3,044 2,675 Gathering and transportation payables 1,239 1,774 Production taxes payable 2,838 1,860 Accrued operating costs 681 3,155 Accrued ad valorem taxes – current 5,501 3,474 Accrued general and administrative expenses 2,285 3,111 Accrued asset retirement obligation – current 5,035 3,099 Accrued interest 1,455 955 Accrued gas purchases 2,035 5,440 Other liabilities 886 1,603 Total accounts payable and accrued liabilities $ 30,786 $ 34,816

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation [Abstract]
Schedule of reconciliation of the ARO	Nine Months Ended (in thousands) 2019 2018 Balance at beginning of period $ 22,310 $ 7,737 Accretion expense 1,219 510 Additions and revisions 294 3,590 Balance at end of period $ 23,823 $ 11,837 Less: Current portion (5,035 ) (902 ) Non-current portion $ 18,788 $ 10,935

Credit Facilities and Notes P_2

Credit Facilities and Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of outstanding credit facilities and notes payable	(in thousands) September 30, December 31, 2018 Credit Facility – revolver $ 71,150 $ 69,150 2018 Credit Facility – term note 8,333 15,000 Old Ironsides Notes 24,826 25,065 Other debt 58 57 Total debt 104,367 109,272 Less: unamortized debt discount (67 ) (134 ) Total credit facilities and notes payable 104,300 109,138 Current portion of credit facilities and notes payable (8,266 ) (11,910 ) Non-current debt, net of current portion and unamortized debt discount $ 96,034 $ 97,228
Schedule of outstanding notes payable - related party	(in thousands) September 30, December 31, Senior Revolving Notes, related party, due February 15, 2022 $ 32,800 $ 38,500 Subordinated Notes, related party, due February 15, 2024 13,000 13,000 Total principal 45,800 51,500 Less: Deferred notes costs (185 ) (235 ) Less: unamortized debt discount (1,150 ) (1,346 ) Total notes payable – related party $ 44,465 $ 49,919

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of operating leases related to the asset classes	(in thousands) Right-of-Use Assets Lease Compressors $ 3,459 $ 3,459 Corporate leases 2,225 2,239 Vehicles 839 715 Total $ 6,523 $ 6,413
Schedule of gross operating lease costs	(in thousands) Three Months Ended Nine Months Ended Operating lease cost $ 530 $ 1,598 Short-term lease cost 156 473 Total lease cost $ 686 $ 2,071
Schedule of weighted-average lease term and discount rate	September 30, Weighted-average lease term (years) 3.82 Weighted-average discount rate 6.36 %
Schedule of supplemental cash flow information related to leases	(in thousands) Nine Months Ended Cash paid for operating leases $ 1,707 Right-of-use assets obtained in exchange for operating lease obligations $ 465
Schedule of undiscounted values and discounted present value	(in thousands) Amount Remainder of 2019 $ 505 2020 1,960 2021 1,902 2022 1,704 2023 1,157 Thereafter 10 Total future minimum lease payments $ 7,238 Less: imputed interest (825 ) Total lease liabilities $ 6,413

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of disaggregation of revenue	Appalachian and Illinois Basins Ventura Basin Total Three Months Ended Three Months Ended Three Months Ended 2019 2018 2019 2018 2019 2018 Natural gas sales $ 11,962 $ 3,856 $ 1 $ 516 $ 11,963 $ 4,372 Natural gas liquids sales - - 10 406 10 406 Oil sales 1,327 3,327 7,722 8,523 9,049 11,850 Transportation and handling 304 - - - 304 - Marketing gas sales 3,491 - - - 3,491 - Total $ 17,084 $ 7,183 $ 7,733 $ 9,445 $ 24,817 $ 16,628 Appalachian and Illinois Basins Ventura Basin Total Nine Months Ended Nine Months Ended Nine Months Ended 2019 2018 2019 2018 2019 2018 Natural gas sales $ 44,633 $ 10,776 $ 862 $ 1,059 $ 45,495 $ 11,835 Natural gas liquids sales - - 451 1,119 451 1,119 Oil sales 4,422 5,952 23,518 16,972 27,940 22,924 Transportation and handling 1,361 - - - 1,361 - Marketing gas sales 11,656 - - - 11,656 - Total $ 62,072 $ 16,728 $ 24,831 $ 19,150 $ 86,903 $ 35,878

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of basic and diluted (loss) income per share	Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2019 2018 2019 2018 Net income (loss) attributable to controlling interests before preferred shares $ 3,182 $ (725 ) $ 5,311 $ 2,264 Less: net income attributable to preferred shares – preferred return 75 - 225 - Net income (loss) attributable to common stockholders, basic 3,107 (725 ) 5,086 2,264 Less: warrant derivative gain - - - (225 ) Less: beneficial conversion feature - - - (1,125 ) Less: deemed dividend for convertible preferred shares - (77 ) - (147 ) Net income (loss) attributable to common stockholders, diluted 3,107 (802 ) 5,086 767 Weighted-average number of common shares outstanding, basic 7,839 7,701 7,780 7,466 Add dilutive effects of non-vested shares of restricted stock and restricted performance units 302 - 302 315 Weighted-average number of common shares outstanding, diluted 8,141 7,701 8,082 7,781 Net income (loss) per common share, basic $ 0.40 $ (0.09 ) $ 0.65 $ 0.30 Net income (loss) per common share, diluted $ 0.38 $ (0.10 ) $ 0.63 $ 0.10

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities at fair value	(in thousands) Fair Value Measurements Using Level 1 Level 2 Level 3 Total September 30, 2019 Assets: Commodity derivatives $ - $ 9,794 $ - $ 9,794 December 31, 2018 Assets: Commodity derivatives $ - $ 7,022 $ - $ 7,022

Commodity Derivatives (Tables)

Commodity Derivatives (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of swap derivative agreements	Natural Gas Swaps* Natural Gas Collars* Weighted Weighted Year MMBtu Price (a) MMBtu Range (a) 2019 3,735,000 $ 2.83 92,000 $ 2.60 – $3.03 2020 12,433,000 $ 2.73 1,128,0000 $ 2.40 – $2.75 2021 6,448,000 $ 2.58 65,000 $ 2.40 – $2.75 Oil Swaps* Oil Collars* Year WTI Bbl Weighted Average Price (b) Brent Bbl Weighted Average Price (c) WTI Bbl Weighted Average Price (b) Brent Bbl Weighted Average Price (c) 2019 70,835 $ 53.36 54,091 $ 65.45 5,200 $ 47.50 - $57.35 16,400 $ 47.00 - $75.00 2020 121,147 $ 55.37 162,482 $ 65.67 28,200 $ 47.00 - $60.15 57,900 $ 47.00 - $75.00 2021 - $ - 86,341 $ 67.12 49,500 $ 47.00 - $60.15 130,800 $ 47.00 - $75.00 2022 - $ - - $ - - $ - 90,800 $ 50.00 - $61.00 * Includes 100% of Carbon California's outstanding derivative hedges at September 30, 2019, and not our proportionate share. (a) NYMEX Henry Hub Natural Gas futures contract for the respective period. (b) NYMEX Light Sweet Crude West Texas Intermediate futures contract for the respective period. (c) Brent future contracts for the respective period.
Schedule of fair value of the derivatives recorded	(in thousands) September 30, December 31, Commodity derivative contracts: Commodity derivative asset $ 6,722 $ 3,517 Commodity derivative asset – non-current $ 3,072 $ 3,505
Schedule of realized and unrealized gains and losses	Three Months Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Commodity derivative contracts: Settlement gains (losses) $ 2,429 $ (1,108 ) $ 2,198 $ (2,169 ) Unrealized gains (losses) 3,166 (2,794 ) 2,771 (8,381 ) Total settlement and unrealized gains (losses), net $ 5,595 $ (3,902 ) $ 4,969 $ (10,550 )
Schedule of fair value amounts of all derivative instruments assets and liabilities	Net Gross Recognized Recognized Gross Fair Value Assets/ Amounts Assets/ Balance Sheet Classification (in thousands) Liabilities Offset Liabilities Commodity derivative assets: Commodity derivative asset $ 7,236 $ (514 ) $ 6,722 Commodity derivative asset – non-current 4,275 (1,203 ) 3,072 Total derivative assets $ 11,511 $ (1,717 ) $ 9,794 Commodity derivative liabilities: Commodity derivative liability $ (514 ) $ 514 $ - Commodity derivative liability – non-current (1,203 ) 1,203 - Total derivative liabilities $ (1,717 ) $ 1,717 $ -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of firm transportation volumes and related demand charges	Period Dekatherms Demand Charges Oct 2019 – Mar 2020 58,871 $ 0.20 - 0.62 Apr 2020 – May 2020 57,791 $ 0.20 - 0.56 Jun 2020 – Oct 2020 56,641 $ 0.20 - 0.56 Nov 2020 – Aug 2022 50,341 $ 0.20 - 0.56 Sep 2022 – May 2027 30,990 $ 0.20 - 0.21 Jun 2027 – May 2036 1,000 $ 0.20

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosure (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow disclosures	Nine Months Ended (in thousands) 2019 2018 Cash paid during the period for: Interest $ 6,897 $ 2,770 Non-cash transactions: Capital expenditures included in accounts payable and accrued liabilities $ (1,195 ) $ (491 ) Adjustments to OIE Membership Acquisition purchase price $ 1,317 $ - Increase in asset retirement obligations $ - $ 3,590 Non-cash acquisition of Carbon California interests $ - $ (18,906 ) Carbon California Acquisition on February 1, 2018 $ - $ 17,114 Obligations assumed with Seneca asset purchase $ - $ 330 Accrued dividend for convertible preferred stock $ - $ 148 Beneficial conversion feature for convertible preferred stock $ - $ 1,125 Exercise of warrant derivative $ - $ (1,792 )

Organization (Details)

Organization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	May 01, 2018	Feb. 01, 2018	Jan. 31, 2018
Carbon California [Member]
Ownership percentage		53.92%	56.40%	17.81%
OIE Membership Acquisition [Member]
Business acquisition purchase price	$ 58,100
Prudential [Member] | Carbon California [Member]
Ownership percentage		46.08%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)Partnerships	Dec. 31, 2018
Accounting Policies [Abstract]
Insurance settlement received | $	$ 800
Number of consolidated partnerships | Partnerships	46
Carbon Appalachia [Member]
Accounting Policies [Abstract]
Percentage of ownership interest in the subsidiary		100.00%
Nytis LLC [Member] | Nytis USA [Member]
Accounting Policies [Abstract]
Percentage of ownership interest in the subsidiary		98.15%
Nytis USA [Member]
Accounting Policies [Abstract]
Percentage of ownership interest in the subsidiary		100.00%

Acquisitions (Details)

Acquisitions (Details) - Old Ironsides [Member] $ in Thousands	1 Months Ended
	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Cash consideration	$ 33,000
Old Ironsides Notes	25,030
Fair value of previously held equity interest	14,158
Fair value of business acquired	$ 72,188

Acquisitions (Details 1)

Acquisitions (Details 1) - OIE Membership Acquisition [Member] $ in Thousands	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Cash	$ 12,283
Accounts receivable:
Revenue	12,834
Trade receivable	1,941
Commodity derivative asset	198
Inventory	2,022
Prepaid expenses, deposits, and other current assets	456
Oil and gas properties:
Proved	107,879
Unproved	1,869
Other property, plant and equipment, net	15,441
Other non-current assets	514
Accounts payable and accrued liabilities	(20,466)
Due to related parties	(458)
Firm transportation contract obligations	(18,724)
Asset retirement obligations	(5,626)
Notes payable	(37,975)
Total net assets acquired	$ 72,188

Acquisitions (Details 2)

Acquisitions (Details 2) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
OIE Membership Acquisition [Member]
Business Acquisition [Line Items]
Revenue	$ 27,681	$ 82,521
Net (loss) income before non-controlling interests	1,729	4,495
Net income (loss) attributable to non-controlling interests	270	(2,234)
Net (loss) income attributable to controlling interests before preferred shares	$ 1,459	$ 6,729
Net (loss) income per share, basic	$ 0.19	$ 0.90
Net (loss) income per share, diluted	$ 0.18	$ 0.70
Carbon California [Member]
Business Acquisition [Line Items]
Revenue	$ 12,742	$ 33,256
Net (loss) income before non-controlling interests	(455)	5,232
Net income (loss) attributable to non-controlling interests	270	(2,334)
Net (loss) income attributable to controlling interests before preferred shares	$ (725)	$ 7,566
Net (loss) income per share, basic	$ (0.09)	$ 1
Net (loss) income per share, diluted	$ (0.10)	$ 0.96

Acquisitions (Details Textual)

Acquisitions (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)shares
Carbon Appalachia [Member]
Business Acquisition [Line Items]
Gain on derecognized equity investment | $	$ 1,300
Carbon Appalachia [Member] | Class A Units [Member]
Business Acquisition [Line Items]
Cash paid to acquired business | $	33,000
Business acquisition, purchase price | $	58,100
Debt issued for acquired business | $	$ 25,100
Old Ironsides [Member] | Class A Units [Member]
Business Acquisition [Line Items]
Units held prior to acquisition | shares	27,195
Aggregate share ownership prior to acquistion	72.76%
Carbon Energy Corporation [Member]
Business Acquisition [Line Items]
Ownership prior to acquisition	27.24%
Carbon Energy Corporation [Member] | Class A Units [Member]
Business Acquisition [Line Items]
Units held prior to acquisition | shares	9,805
Carbon Energy Corporation [Member] | Class B Units [Member]
Business Acquisition [Line Items]
Units held prior to acquisition | shares	1,000
Carbon Energy Corporation [Member] | Class C Units [Member]
Business Acquisition [Line Items]
Units held prior to acquisition | shares	121

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Oil and gas properties:
Proved oil and gas properties	$ 349,550	$ 343,736
Unproved properties not subject to depletion	5,004	5,416
Accumulated depreciation, depletion, amortization and impairment	(105,957)	(95,281)
Net oil and gas properties	248,597	253,871
Pipeline facilities and equipment	12,714	12,714
Base gas	1,937	2,122
Furniture and fixtures, computer hardware and software, and other equipment	6,733	6,649
Accumulated depreciation and amortization	(5,131)	(3,922)
Net other property and equipment	16,253	17,563
Property and equipment, net	$ 264,850	$ 271,434

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Capitalized overhead	$ 167	$ 106	$ 540	$ 306
Depletion expense related to oil and gas properties	3,700	$ 2,400	10,700	$ 5,600
Leasehold costs reclassified into proved property	513		719
Unproved oil and gas properties not subject to depletion	$ 5,004		$ 5,004		$ 5,416

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Payables and Accruals [Abstract]
Accounts payable	$ 5,787	$ 7,670
Oil and gas revenue suspense	3,044	2,675
Gathering and transportation payables	1,239	1,774
Production taxes payable	2,838	1,860
Accrued operating costs	681	3,155
Accrued ad valorem taxes - current	5,501	3,474
Accrued general and administrative expenses	2,285	3,111
Accrued asset retirement obligation - current	5,035	3,099	$ 902
Accrued interest	1,455	955
Accrued gas purchases	2,035	5,440
Other liabilities	886	1,603
Total accounts payable and accrued liabilities	$ 30,786	$ 34,816

Asset Retirement Obligation (De

Asset Retirement Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Asset Retirement Obligation [Abstract]
Balance at beginning of period			$ 22,310	$ 7,737
Accretion expense	$ 420	$ 206	1,219	510
Additions and revisions			294	3,590
Balance at end of period	23,823	11,837	23,823	11,837
Less: Current portion	(5,035)	(902)	(5,035)	(902)	$ (3,099)
Non-current portion	$ 18,788	$ 10,935	$ 18,788	$ 10,935	$ 19,211

Credit Facilities and Notes P_3

Credit Facilities and Notes Payable (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
2018 Credit Facility - revolver [Member]
Debt Instrument [Line Items]
Total debt	$ 71,150	$ 69,150
2018 Credit Facility - term note [Member]
Debt Instrument [Line Items]
Total debt	8,333	15,000
Old Ironsides Notes [Member]
Debt Instrument [Line Items]
Total debt	24,826	25,065
Credit Facilities [Member]
Debt Instrument [Line Items]
Other debt	58	57
Total debt	104,367	109,272
Less: unamortized debt discount	(67)	(134)
Total credit facilities and notes payable	104,300	109,138
Current portion of credit facilities and notes payable	(8,266)	(11,910)
Non-current debt, net of current portion and unamortized debt discount	$ 96,034	$ 97,228

Credit Facilities and Notes P_4

Credit Facilities and Notes Payable (Details 1) - Prudential [Member] - Carbon California [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total principal	$ 45,800	$ 51,500
Less: Deferred notes costs	(185)	(235)
Less: unamortized debt discount	(1,150)	(1,346)
Total notes payable - related party	44,465	49,919
Senior Revolving Notes [Member]
Debt Instrument [Line Items]
Total principal	32,800	38,500
Subordinated Notes [Member]
Debt Instrument [Line Items]
Total principal	$ 13,000	$ 13,000

Credit Facilities and Notes P_5

Credit Facilities and Notes Payable (Details Textual) $ in Thousands	Oct. 01, 2019USD ($)	Feb. 01, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Credit Facilities and Notes Payable (Textual)
Senior secured asset-based revolving credit facility					$ 4,000	$ 34,529
Amortization of deferred issuance costs					644	468
Paid in kind interest					1,819
One-time principal reduction payment					$ 16,396	$ 14
Old Ironsides Notes [Member] | Carbon Appalachia [Member]
Credit Facilities and Notes Payable (Textual)
Bank credit facility, terms			5 years
Amount of unsecured notes issuance			$ 25,100
Interest rate (as a percent)			10.00%
Number of monthly installments					24
One-time principal reduction payment		$ 2,000
Old Ironsides Notes [Member] | Carbon Appalachia [Member] | Payment in Kind (PIK) Note [Member]
Credit Facilities and Notes Payable (Textual)
Interest rate (as a percent)				12.00%	12.00%
Paid in kind interest					$ 1,800
2018 Credit Facility [Member] | Carbon Appalachia [Member]
Credit Facilities and Notes Payable (Textual)
Unamortized deferred issuance costs				$ 524	524
Unamortized debt discount, term note				67	67
Senior secured asset-based revolving credit facility					$ 500,000
Commitment fee (as a percent)					0.50%
Origination fee (as a percent)					0.50%
Credit facility				75,000	$ 75,000
Additional borrowing capacity available				3,800	$ 3,800
Debt Instrument, covenant, ratio of debt to EBITDAX					3.5
Debt Instrument, covenant, current ratio					1
Credit facility-revolver outstanding				71,200	$ 71,200
Amortization of deferred issuance costs				63	$ 188
Revolving credit facility maturing date					Dec. 31, 2022
Cash and cash equivalents of borrowers not to exceed				3,000	$ 3,000
Debt issuance costs paid, revolver and term loan				779	779
Debt issuance costs paid, term loan				134	134
Term loan				15,000	15,000
Sublimit for letters of credit				$ 1,500	$ 1,500
Interest rate (as a percent)				6.25%	6.25%
Number of monthly installments					18
2018 Credit Facility [Member] | Carbon Appalachia [Member] | Subsequent Event [Member]
Credit Facilities and Notes Payable (Textual)
Debt instrument, covenant, minimum liquidity	$ 3,000
Debt instrument, covenant, minimum liquidity, term	90 days
2018 Credit Facility [Member] | Carbon Appalachia [Member] | Minimum [Member] | Base rate [Member]
Credit Facilities and Notes Payable (Textual)
Spread on variable base rate (as a percent)					0.25%
2018 Credit Facility [Member] | Carbon Appalachia [Member] | Minimum [Member] | London interbank offered rate [Member]
Credit Facilities and Notes Payable (Textual)
Spread on variable base rate (as a percent)					2.75%
2018 Credit Facility [Member] | Carbon Appalachia [Member] | Maximum [Member] | Base rate [Member]
Credit Facilities and Notes Payable (Textual)
Spread on variable base rate (as a percent)					0.75%
2018 Credit Facility [Member] | Carbon Appalachia [Member] | Maximum [Member] | London interbank offered rate [Member]
Credit Facilities and Notes Payable (Textual)
Spread on variable base rate (as a percent)					3.75%

Credit Facilities and Notes P_6

Credit Facilities and Notes Payable (Details Textual 1) $ in Thousands	May 01, 2018USD ($)shares	Feb. 15, 2017USD ($)shares	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Credit Facilities and Notes Payable (Textual)
Amortization of deferred issuance costs				$ 644	$ 468
Prudential [Member] | Carbon California [Member] | Senior Revolving Notes [Member]
Credit Facilities and Notes Payable (Textual)
Initial revolving borrowing capacity		$ 25,000
Notes maturity date		Feb. 15, 2022
Borrowing base amount			$ 45,000	45,000
Outstanding borrowings			$ 32,800	$ 32,800
Effective borrowing rate			7.60%	7.60%
Commitment fee (as a percent)		0.50%
Annual administrative fee payable		$ 75
Percentage of production hedged by commodity derivatives, year one		75.00%
Percentage of production hedged by commodity derivatives, year two		65.00%
Percentage of production hedged by commodity derivatives, year three		50.00%
Principal payments in minimum installments		$ 500
Current portion of fees		$ 699
Amortization of deferred issuance costs			$ 70	$ 202
Debt instrument, covenant, debt to EBITDA ratio		4
Debt instrument, covenant, senior revolving notes to EBITDA ratio		2.5
Debt instrument, covenant, interest coverage ratio		2
Debt instrument, covenant, current ratio		1
Ownership percentage			46.08%	46.08%
Prudential [Member] | Carbon California [Member] | Senior Revolving Notes [Member] | LIBOR [Member]
Credit Facilities and Notes Payable (Textual)
Effective borrowing rate		5.50%
Prudential [Member] | Carbon California [Member] | Senior Revolving Notes [Member] | Prime Rate [Member]
Credit Facilities and Notes Payable (Textual)
Effective borrowing rate		4.50%
Prudential [Member] | Carbon California [Member] | Subordinated Notes [Member]
Credit Facilities and Notes Payable (Textual)
Notes maturity date		Feb. 15, 2024
Principal outstanding			$ 10,000	$ 10,000
Percentage of production hedged by commodity derivatives, year one		67.50%
Percentage of production hedged by commodity derivatives, year two		58.50%
Percentage of production hedged by commodity derivatives, year three		45.00%
Amortization of debt discount			45	134
Interest rate (as a percent)		12.00%
Number of common units issued | shares		1,425
Increase in sharing percentage by noncontroling interest		5.00%
Fair value per Class A unit		$ 1,000
Fair value of debt discount		1,300
Outstanding discount amount of notes			780	780
Proceeds from debt		$ 10,000
Principal prepayment allowed (as a percent)		100.00%
Prepayment fee (as a percent)		3.00%
Debt instrument, covenant, debt to EBITDA ratio		4.75
Debt instrument, covenant, senior revolving notes to EBITDA ratio		3
Debt instrument, covenant, interest coverage ratio		1.6
Debt instrument, covenant, current ratio		0.85
Percentage of adjusted PV-10 not to exceed indebtedness		65.00%
Prudential [Member] | Carbon California [Member] | 2018 Subordinated Notes [Member]
Credit Facilities and Notes Payable (Textual)
Notes maturity date	Feb. 15, 2024
Principal outstanding			3,000	3,000
Percentage of production hedged by commodity derivatives, year one	67.50%
Percentage of production hedged by commodity derivatives, year two	58.50%
Percentage of production hedged by commodity derivatives, year three	45.00%
Amortization of debt discount			21	63
Interest rate (as a percent)	12.00%
Number of common units issued | shares	585
Increase in sharing percentage by noncontroling interest	2.00%
Fair value per Class A unit	$ 1,000
Fair value of debt discount	490
Outstanding discount amount of notes			$ 370	$ 370
Proceeds from debt	$ 3,000
Principal prepayment allowed (as a percent)	100.00%
Prepayment fee (as a percent)	3.00%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Operating Leased Assets [Line Items]
Right-of-Use Assets	$ 6,523
Lease Liability	6,413
Compressors [Member]
Operating Leased Assets [Line Items]
Right-of-Use Assets	3,459
Lease Liability	3,459
Corporate leases [Member]
Operating Leased Assets [Line Items]
Right-of-Use Assets	2,225
Lease Liability	2,239
Vehicles [Member]
Operating Leased Assets [Line Items]
Right-of-Use Assets	839
Lease Liability	$ 715

Leases (Details 1)

Leases (Details 1) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 530	$ 1,598
Short-term lease cost	156	473
Total lease cost	$ 686	$ 2,071

Leases (Details 2)

Leases (Details 2)	Sep. 30, 2019
Leases [Abstract]
Weighted-average lease term (years)	3 years 9 months 25 days
Weighted-average discount rate	6.36%

Leases (Details 3)

Leases (Details 3) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts included in measurement of lease liabilities:
Cash paid for operating leases	$ 1,707
Right-of-use assets obtained in exchange for operating lease obligations	$ 465

Leases (Details 4)

Leases (Details 4) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
Remainder of 2019	$ 505
2020	1,960
2021	1,902
2022	1,704
2023	1,157
Thereafter	10
Total future minimum lease payments	7,238
Less: imputed interest	(825)
Total lease liabilities	$ 6,413

Leases (Details Textual)

Leases (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use lease liabilities	$ 6,413
Right-of-use assets and liabilities discounted present value	$ 6,523
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use lease liabilities		$ 7,700
Right-of-use assets and liabilities discounted present value		$ 7,700

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total	$ 30,535	$ 12,742	$ 92,692	$ 25,363
Natural gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	11,963	4,372	45,495	11,835
Natural gas liquids sales [Member]
Disaggregation of Revenue [Line Items]
Total	10	406	451	1,119
Oil sales [Member]
Disaggregation of Revenue [Line Items]
Total	9,049	11,850	27,940	22,924
Transportation and handling [Member]
Disaggregation of Revenue [Line Items]
Total	304		1,361
Marketing gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	3,491		11,656
Appalachian and Illinois Basins [Member]
Disaggregation of Revenue [Line Items]
Total	17,084	7,183	62,072	16,728
Appalachian and Illinois Basins [Member] | Natural gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	11,962	3,856	44,633	10,776
Appalachian and Illinois Basins [Member] | Natural gas liquids sales [Member]
Disaggregation of Revenue [Line Items]
Total
Appalachian and Illinois Basins [Member] | Oil sales [Member]
Disaggregation of Revenue [Line Items]
Total	1,327	3,327	4,422	5,952
Appalachian and Illinois Basins [Member] | Transportation and handling [Member]
Disaggregation of Revenue [Line Items]
Total	304		1,361
Appalachian and Illinois Basins [Member] | Marketing gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	3,491		11,656
Ventura Basin [Member]
Disaggregation of Revenue [Line Items]
Total	7,733	9,445	24,831	19,150
Ventura Basin [Member] | Natural gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	1	516	862	1,059
Ventura Basin [Member] | Natural gas liquids sales [Member]
Disaggregation of Revenue [Line Items]
Total	10	406	451	1,119
Ventura Basin [Member] | Oil sales [Member]
Disaggregation of Revenue [Line Items]
Total	7,722	8,523	23,518	16,972
Ventura Basin [Member] | Transportation and handling [Member]
Disaggregation of Revenue [Line Items]
Total
Ventura Basin [Member] | Marketing gas sales [Member]
Disaggregation of Revenue [Line Items]
Total

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Share-based Arrangements with Employees and Nonemployees [Abstract]
Issuance of common stock shares	1,600,000		1,600,000
Restricted Stock [Member]
Share-based Arrangements with Employees and Nonemployees [Abstract]
Granted (in shares)			748,000
Vested (in shares)			105,000
Compensation costs	$ 204	$ 187	$ 607	$ 537
Unrecognized compensation costs	1,500		$ 1,500
Compensation recognized period			6 years 6 months
Restricted Performance Units [Member]
Share-based Arrangements with Employees and Nonemployees [Abstract]
Granted (in shares)			699,000
Vested (in shares)			95,000
Compensation costs			$ 43	$ 135
Performance units fair value			$ 10		$ 9.80	$ 7.20
Unrecognized compensation costs	$ 3,800		$ 3,800

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income (loss) attributable to controlling interests before preferred shares	$ 3,182	$ (725)	$ 5,311	$ 2,264
Less: net income attributable to preferred shares - preferred return	75		225
Net income (loss) attributable to common stockholders, basic	3,107	(725)	5,086	2,264
Less: warrant derivative gain				(225)
Less: beneficial conversion feature				(1,125)
Less: deemed dividend for convertible preferred shares		(77)		(147)
Net income (loss) attributable to common stockholders, diluted	$ 3,107	$ (802)	$ 5,086	$ 767
Weighted-average number of common shares outstanding, basic	7,839	7,701	7,780	7,466
Add dilutive effects of non-vested shares of restricted stock and restricted performance units	$ 302		$ 302	$ 315
Weighted-average number of common shares outstanding, diluted	8,141	7,701	8,082	7,781
Net income (loss) per common share, basic	$ 0.40	$ (0.09)	$ 0.65	$ 0.30
Net income (loss) per common share, diluted	$ 0.38	$ (0.10)	$ 0.63	$ 0.10

Earnings (Loss) Per Common Sh_4

Earnings (Loss) Per Common Share (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issuance of preferred stock, value	$ 1		$ 1		$ 1
Issuance of preferred stock, shares	50,000		50,000		50,000
Issue price, per share	$ 0.01		$ 0.01
Preferred return	$ 449		$ 449		$ 224
Additional paid-in capital
Anti-dilutive shares excluded from computation of diluted earnings per share	275,000	497,000	275,000	280,000
Series B Convertible Preferred Stock [Member] | Yorktown [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issuance of preferred stock, value	$ 5,000		$ 5,000
Issuance of preferred stock, shares	50,000		50,000
Conversion price, per share	$ 8		$ 8
Annual per share dividend rate			6.00%
Issue price, per share	$ 100		$ 100
Preferred return	$ 449		$ 449
Convertible preferred stock shares issued upon conversion	12.5		12.5
Preferred stock, conversion ratio, stock price trigger			15.00%
Preferred stock, increase in liquidation preference			$ 225

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value Measurements [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets:
Commodity derivatives	$ 9,794	$ 7,022
Level 1 [Member]
Assets:
Commodity derivatives
Level 2 [Member]
Assets:
Commodity derivatives	9,794	7,022
Level 3 [Member]
Assets:
Commodity derivatives

Fair Value Measurements (Deta_2

Fair Value Measurements (Details Textual) - Fair Value, Inputs, Level 3 [Member] - Non-Recurring [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)shares
Minimum [Member] | Abandonment Costs Member [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset retirement obligation liability	$ 20
Minimum [Member] | Inflation rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset retirement obligation, measurement input rate	1.52%
Minimum [Member] | Risk-free rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset retirement obligation, measurement input rate	3.28%
Minimum [Member] | Reclamation Period [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated timing of reclamation range (in years)	1 year
Maximum [Member] | Abandonment Costs Member [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset retirement obligation liability	$ 45
Maximum [Member] | Inflation rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset retirement obligation, measurement input rate	2.79%
Maximum [Member] | Risk-free rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset retirement obligation, measurement input rate	8.27%
Maximum [Member] | Reclamation Period [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated timing of reclamation range (in years)	75 years
Class A Units [Member] | Subordinated Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of common units issued | shares	1,425
Fair value of debt discount	$ 1,300
Fair value per Class A unit	$ 1,000
Class A Units [Member] | 2018 Subordinated Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of common units issued | shares	585
Fair value of debt discount	$ 490

Commodity Derivatives (Details)

Commodity Derivatives (Details) - Carbon California [Member]	9 Months Ended
	Sep. 30, 2019bblMMBTU$ / MMBTU$ / bbl	[1]
2019 [Member] | Natural Gas Swaps [Member] | MMBtu [Member]
Derivative agreements details:
Crude oil, notional amount (in MMBtu) | MMBTU	3,735,000
Weighted Average Price | $ / MMBTU	2.83	[2]
2019 [Member] | Natural Gas Collars [Member] | MMBtu [Member]
Derivative agreements details:
Crude oil, notional amount (in MMBtu) | MMBTU	92,000
2019 [Member] | Natural Gas Collars [Member] | MMBtu [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / MMBTU	2.60	[2]
2019 [Member] | Natural Gas Collars [Member] | MMBtu [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / MMBTU	3.03	[2]
2019 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	70,835
Weighted Average Price | $ / bbl	53.36	[3]
2019 [Member] | Oil Swaps [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	54,091
Weighted Average Price | $ / bbl	65.45
2019 [Member] | Oil Collars [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	5,200
2019 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47.50	[3]
2019 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	57.35	[3]
2019 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	16,400
2019 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[4]
2019 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	75	[4]
2020 [Member] | Natural Gas Swaps [Member] | MMBtu [Member]
Derivative agreements details:
Crude oil, notional amount (in MMBtu) | MMBTU	12,433,000
Weighted Average Price | $ / MMBTU	2.73	[2]
2020 [Member] | Natural Gas Collars [Member] | MMBtu [Member]
Derivative agreements details:
Crude oil, notional amount (in MMBtu) | MMBTU	11,280,000
2020 [Member] | Natural Gas Collars [Member] | MMBtu [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / MMBTU	2.40	[2]
2020 [Member] | Natural Gas Collars [Member] | MMBtu [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / MMBTU	2.75	[2]
2020 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	121,147
Weighted Average Price | $ / bbl	55.37	[3]
2020 [Member] | Oil Swaps [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	162,482
Weighted Average Price | $ / bbl	65.67	[4]
2020 [Member] | Oil Collars [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	28,200
2020 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[3]
2020 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	60.15	[3]
2020 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	57,900
2020 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[4]
2020 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	75	[4]
2021 [Member] | Natural Gas Swaps [Member] | MMBtu [Member]
Derivative agreements details:
Crude oil, notional amount (in MMBtu) | MMBTU	6,448,000
Weighted Average Price | $ / MMBTU	2.58	[2]
2021 [Member] | Natural Gas Collars [Member] | MMBtu [Member]
Derivative agreements details:
Crude oil, notional amount (in MMBtu) | MMBTU	65,000
2021 [Member] | Natural Gas Collars [Member] | MMBtu [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / MMBTU	2.40	[2]
2021 [Member] | Natural Gas Collars [Member] | MMBtu [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / MMBTU	2.75	[2]
2021 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl		[3]
2021 [Member] | Oil Swaps [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	86,341
Weighted Average Price | $ / bbl	67.12	[4]
2021 [Member] | Oil Collars [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	49,500
2021 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[3]
2021 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	60.15	[3]
2021 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	130,800
2021 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[4]
2021 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	75	[4]
2022 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl		[3]
2022 [Member] | Oil Swaps [Member] | Brent Bbl [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl		[4]
2022 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl		[3]
2022 [Member] | Oil Collars [Member] | WTI Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl		[3]
2022 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	90,800
2022 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	50	[4]
2022 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	61	[4]
[1]	Includes 100% of Carbon California's outstanding derivative hedges at September 30, 2019, and not our proportionate share.
[2]	NYMEX Henry Hub Natural Gas futures contract for the respective period.
[3]	NYMEX Light Sweet Crude West Texas Intermediate futures contract for the respective period.
[4]	Brent future contracts for the respective period.

Commodity Derivatives (Details

Commodity Derivatives (Details 1) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Commodity derivative contracts:
Commodity derivative asset	$ 6,722	$ 3,517
Commodity derivative asset - non-current	$ 3,072	$ 3,505

Commodity Derivatives (Detail_2

Commodity Derivatives (Details 2) - Commodity derivative contracts [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Settlement gains (losses)	$ 2,429	$ (1,108)	$ 2,198	$ (2,169)
Unrealized gains (losses)	3,166	(2,794)	2,771	(8,381)
Total settlement and unrealized gains (losses), net	$ 5,595	$ (3,902)	$ 4,969	$ (10,550)

Commodity Derivatives (Detail_3

Commodity Derivatives (Details 3) $ in Thousands	Sep. 30, 2019USD ($)
Commodity derivative asset - current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Assets	$ 7,236
Gross Amounts Offset	(514)
Net Recognized Fair Value Assets	6,722
Commodity derivative asset - non-current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Assets	4,275
Gross Amounts Offset	(1,203)
Net Recognized Fair Value Assets	3,072
Total derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Assets	11,511
Gross Amounts Offset	(1,717)
Net Recognized Fair Value Assets	9,794
Commodity derivative liability - current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Liabilities	(514)
Gross Amounts Offset	514
Net Recognized Fair Value Liabilities
Commodity derivative liability - non-current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Liabilities	(1,203)
Gross Amounts Offset	1,203
Net Recognized Fair Value Liabilities
Total derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Liabilities	(1,717)
Gross Amounts Offset	1,717
Net Recognized Fair Value Liabilities

Commitments and Contingencies_2

Commitments and Contingencies (Details) - Transportation Commitments [Member]	9 Months Ended
	Sep. 30, 2019$ / DekathermDekatherms
Oct 2019 - Mar 2020 [Member]
Other Commitments [Line Items]
Capacity levels (Dekatherms per day) | Dekatherms	58,871
Oct 2019 - Mar 2020 [Member] | Minimum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.20
Oct 2019 - Mar 2020 [Member] | Maximum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.62
Apr 2020 - May 2020 [Member]
Other Commitments [Line Items]
Capacity levels (Dekatherms per day) | Dekatherms	57,791
Apr 2020 - May 2020 [Member] | Minimum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.20
Apr 2020 - May 2020 [Member] | Maximum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.56
Jun 2020 - Oct 2020 [Member]
Other Commitments [Line Items]
Capacity levels (Dekatherms per day) | Dekatherms	56,641
Jun 2020 - Oct 2020 [Member] | Minimum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.20
Jun 2020 - Oct 2020 [Member] | Maximum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.56
Nov 2020 - Aug 2022 [Member]
Other Commitments [Line Items]
Capacity levels (Dekatherms per day) | Dekatherms	50,341
Nov 2020 - Aug 2022 [Member] | Minimum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.20
Nov 2020 - Aug 2022 [Member] | Maximum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.56
Sep 2022 - May 2027 [Member]
Other Commitments [Line Items]
Capacity levels (Dekatherms per day) | Dekatherms	30,990
Sep 2022 - May 2027 [Member] | Minimum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.20
Sep 2022 - May 2027 [Member] | Maximum [Member]
Other Commitments [Line Items]
Demand Charges (in dollars per dekatherm)	0.21
Jun 2027 - May 2036 [Member]
Other Commitments [Line Items]
Capacity levels (Dekatherms per day) | Dekatherms	1,000
Demand Charges (in dollars per dekatherm)	0.20

Commitments and Contingencies_3

Commitments and Contingencies (Details Textual) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / McfMcf
Commitments and Contingencies Disclosure [Abstract]
Firm transportation contract obligations, current and non-current	$ 15,600
Natural gas processing agreement initial term	5 years
Natural gas processing agreement extension period	5 years
Annual demand charges for volume commitments	$ 1,800
Minimum annual volume commitment | Mcf	720
Natural gas processing fee | $ / Mcf	2.50

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosure (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash paid during the period for:
Interest	$ 6,897	$ 2,770
Non-cash transactions:
Capital expenditures included in accounts payable and accrued liabilities	(1,195)	(491)
Adjustments to OIE Membership Acquisition purchase price	1,317
Increase in asset retirement obligations		3,590
Non-cash acquisition of Carbon California interests		(18,906)
Carbon California Acquisition on February 1, 2018		17,114
Obligations assumed with Seneca asset purchase		330
Accrued dividend for convertible preferred stock		148
Beneficial conversion feature for convertible preferred stock		1,125
Exercise of warrant derivative		$ (1,792)