Carbon Energy (CRBO) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 07, 2020
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	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
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 Common Stock, Shares Outstanding		8,304,781
Entity File Number	000-02040
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,311	$ 904
Restricted cash (Note 3)	4,612
Accounts receivable:
Revenue	1,846	12,886
Joint interest billings and other	415	1,552
Commodity derivative asset (Note 13)	6,129	5,915
Prepaid expenses, deposits, and other current assets	1,403	2,500
Inventory	491	2,512
Total current assets	16,207	26,269
Oil and gas properties, full cost method of accounting:
Proved, net	114,095	242,144
Unproved	1,616	4,872
Other property and equipment, net	1,189	15,984
Total property and equipment, net	116,900	263,000
Investments in affiliates	67	625
Commodity derivative asset - non-current (Note 13)	2,871	1,164
Right-of-use assets	1,949	6,104
Other non-current assets	2,276	1,092
Total non-current assets	124,063	271,985
Total assets	140,270	298,254
Current liabilities:
Accounts payable and accrued liabilities (Note 5)	12,500	35,157
Firm transportation contract obligations (Note 14)		5,679
Lease liability - current	696	1,625
Commodity derivative liability (Note 13)		469
Credit facilities and notes payable (Note 7)	1,339	5,788
Total current liabilities	14,535	48,718
Non-current liabilities:
Firm transportation contract obligations (Note 14)		8,905
Lease liability - non-current	1,179	4,383
Commodity derivative liability - non-current (Note 13)		87
Production and property taxes payable		2,815
Asset retirement obligations (Note 6)	5,908	17,514
Credit facilities and notes payable (Note 7)	15,862	94,870
Notes payable - related party (Note 7)	49,484	44,741
Total non-current liabilities	72,433	173,315
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.01 par value; liquidation preference of $674 and $524 at June 30, 2020 and December 31, 2019, respectively; authorized 1,000,000 shares, 50,000 shares issued and outstanding at June 30, 2020 and December 31, 2019	1	1
Common stock, $0.01 par value; authorized 35,000,000 shares, 8,304,781 and 7,796,085 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	83	78
Additional paid-in capital	89,148	85,834
Accumulated deficit	(63,559)	(35,842)
Total Carbon stockholders' equity	25,673	50,071
Non-controlling interests	27,629	26,150
Total stockholders' equity	53,302	76,221
Total liabilities and stockholders' equity	$ 140,270	$ 298,254

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
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	$ 674	$ 524
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	8,304,781	7,796,085
Common stock, shares outstanding	8,304,781	7,796,085

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Commodity derivative (loss) gain	$ (5,647)	$ 8,680	$ 14,067	$ (627)
Other income	2	305		697
Total revenue	4,963	36,841	47,428	62,155
Expenses:
Lease operating expenses	5,086	7,480	12,458	14,095
Pipeline operating expenses	1,432	2,950	4,125	6,035
Transportation and gathering costs	1,475	1,130	4,052	2,799
Production and property taxes	1,136	1,666	1,146	3,676
Marketing gas purchases	1,329	4,795	4,801	11,097
General and administrative	5,402	3,947	8,702	8,636
Depreciation, depletion and amortization	2,149	3,881	5,960	7,860
Accretion of asset retirement obligations	299	405	777	799
Loss on Appalachia Divestiture	34,463		34,463
Total expenses	52,771	26,254	76,484	54,997
Operating (loss) income	(47,808)	10,587	(29,056)	7,158
Other income (expense):
Interest expense, net	(2,774)	(3,445)	(5,647)	(6,725)
Investments in affiliates		21	(421)	40
Other income	104		104
Total expense	(2,670)	(3,424)	(5,964)	(6,685)
(Loss) income before income taxes	(50,478)	7,163	(35,020)	473
Provision for income taxes
Net (loss) income before non-controlling interests and preferred shares	(50,478)	7,163	(35,020)	473
Net (loss) income attributable to non-controlling interests	(2,542)	934	3,117	(1,656)
Net (loss) income attributable to controlling interests before preferred shares	(47,936)	6,229	(38,137)	2,129
Net income attributable to preferred shares - preferred return	75	75	150	150
Net (loss) income attributable to common shares	$ (48,011)	$ 6,154	$ (38,287)	$ 1,979
Net (loss) income per common share:
Basic	$ (5.91)	$ 0.79	$ (4.81)	$ 0.26
Diluted	$ (5.91)	$ 0.75	$ (4.81)	$ 0.24
Weighted average common shares outstanding:
Basic	8,118	7,815	7,964	7,739
Diluted	8,118	8,157	7,964	8,081
Natural gas sales [Member]
Revenue:
Total revenue	$ 4,138	$ 14,216	$ 12,572	$ 33,532
Natural gas liquids [Member]
Revenue:
Total revenue	49	195	201	441
Oil sales [Member]
Revenue:
Total revenue	3,767	9,902	10,982	18,891
Transportation and handling [Member]
Revenue:
Total revenue	274	322	908	1,056
Marketing gas sales [Member]
Revenue:
Total revenue	$ 2,380	$ 3,221	$ 8,698	$ 8,165

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
Balance at Dec. 31, 2018	$ 77	$ 1	$ 84,612	$ 28,284	$ (36,939)	$ 76,035
Balance, shares at Dec. 31, 2018	7,656	50
Stock-based compensation			222			222
Restricted stock vested	$ 1					1
Restricted stock vested, shares	40
Performance units vested	$ 1		(1)
Performance units vested, shares	95
Non-controlling interests' contributions, net				22		22
Net income (loss)				(2,590)	(4,100)	(6,690)
Balance at Mar. 31, 2019	$ 79	$ 1	84,833	25,716	(41,039)	69,590
Balance, shares at Mar. 31, 2019	7,791	50
Balance at Dec. 31, 2018	$ 77	$ 1	84,612	28,284	(36,939)	76,035
Balance, shares at Dec. 31, 2018	7,656	50
Net income (loss)						473
Balance at Jun. 30, 2019	$ 79	$ 1	85,057	26,634	(34,810)	76,961
Balance, shares at Jun. 30, 2019	7,816	50
Balance at Mar. 31, 2019	$ 79	$ 1	84,833	25,716	(41,039)	69,590
Balance, shares at Mar. 31, 2019	7,791	50
Stock-based compensation			224			224
Restricted stock vested
Restricted stock vested, shares	25
Non-controlling interests' contributions, net				(16)		(16)
Net income (loss)				934	6,229	7,163
Balance at Jun. 30, 2019	$ 79	$ 1	85,057	26,634	(34,810)	76,961
Balance, shares at Jun. 30, 2019	7,816	50
Balance at Dec. 31, 2019	$ 78	$ 1	85,834	26,150	(35,842)	76,221
Balance, shares at Dec. 31, 2019	7,796	50
Stock-based compensation			204			204
Restricted stock vested
Restricted stock vested, shares	20
Performance units vested	$ 1		(1)
Performance units vested, shares	83
Non-controlling interests' contributions, net				(3)		(3)
Net income (loss)				5,659	9,799	15,458
Balance at Mar. 31, 2020	$ 79	$ 1	86,037	31,806	(26,043)	91,880
Balance, shares at Mar. 31, 2020	7,899	50
Balance at Dec. 31, 2019	$ 78	$ 1	85,834	26,150	(35,842)	76,221
Balance, shares at Dec. 31, 2019	7,796	50
Net income (loss)						(35,020)
Balance at Jun. 30, 2020	$ 83	$ 1	89,148	27,629	(63,559)	53,302
Balance, shares at Jun. 30, 2020	8,305	50
Balance at Mar. 31, 2020	$ 79	$ 1	86,037	31,806	(26,043)	91,880
Balance, shares at Mar. 31, 2020	7,899	50
Stock-based compensation			3,151			3,151
Restricted stock vested	$ 4		(4)
Restricted stock vested, shares	380
Performance units vested	$ 2		(2)
Performance units vested, shares	169
Restricted stock and performance units exchanged for tax withholding	$ (2)		(34)			(36)
Restricted stock and performance units exchanged for tax withholding, shares	(143)
Impact of Appalachia Divestiture				(1,635)	10,420	8,785
Net income (loss)				(2,542)	(47,936)	(50,478)
Balance at Jun. 30, 2020	$ 83	$ 1	$ 89,148	$ 27,629	$ (63,559)	$ 53,302
Balance, shares at Jun. 30, 2020	8,305	50

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (35,020)	$ 473
Items not involving cash:
Depreciation, depletion and amortization	5,960	7,860
Accretion of asset retirement obligations	777	799
Unrealized commodity derivative (gain) loss	(5,626)	396
Stock-based compensation expense	3,355	446
Net loss on Appalachia Divestiture	25,527
Loss on sale of affiliate investment	419
Investments in affiliates	9	(40)
Amortization of debt costs	857	405
Interest expense paid-in-kind	1,052	1,244
Other	(74)
Net change in:
Accounts receivable	2,525	7,525
Prepaid expenses, deposits and other current assets	204	(375)
Accounts payable, accrued liabilities and firm transportation contract obligations	(9,009)	(8,611)
Inventory and other non-current items	452	(327)
Net cash (used in) provided by operating activities	(8,592)	9,795
Cash flows from investing activities:
Development and acquisition of properties and equipment	(3,460)	(1,863)
Distribution from affiliate		50
Proceeds from Appalachia Divestiture	98,121
Proceeds from disposition of oil and gas properties and other property and equipment	922	176
Proceeds from sale of affiliate investment	131
Net cash provided by (used in) investing activities	95,714	(1,637)
Cash flows from financing activities:
Proceeds from credit facilities and notes payable	8,839	4,029
Payments on credit facilities and notes payable	(88,803)	(13,185)
Payments of debt issuance costs		(93)
Vested restricted stock and performance units exchanged for tax withholding	(36)
(Distributions to) contributions from non-controlling interests, net	(3)	6
Net cash used in financing activities	(80,003)	(9,243)
Net increase (decrease) in cash, cash equivalents and restricted cash	7,119	(1,085)
Cash, cash equivalents and restricted cash, beginning of period	904	5,736
Cash, cash equivalents and restricted cash, end of period	$ 8,023	$ 4,651

Organization

Organization	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	NOTE 1 – ORGANIZATION Carbon Energy Corporation 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. The terms "we", "us", "our", the "Company" or "Carbon" refer to Carbon Energy Corporation and our consolidated subsidiaries. On May 26, 2020 Carbon Energy Corporation completed its sale of all of the issued and outstanding membership interests of Carbon Appalachia Company, LLC and Nytis Exploration Company LLC. See Note 3 – Divestiture for more information. Following the sale, Carbon's operations are substantially limited to those in the Ventura Basin through Carbon California Company, LLC, a Delaware limited liability company (" Carbon California Ventura Basin Operations In California, Carbon California Operating Company, LLC conducts operations on behalf of Carbon California. We own 53.92% of the voting and profits interests and Prudential Legacy Insurance Company of New Jersey and Prudential Insurance Company of America or its affiliates (collectively, " Prudential

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
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 the Company and its consolidated subsidiaries. Partnerships and subsidiaries in which we have a controlling interest are consolidated. 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. Cash and Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheet to amounts shown in the unaudited condensed consolidated statement of cash flows in thousands: June 30, Cash and cash equivalents $ 1,311 Restricted cash 4,612 Other non-current assets 2,100 Total cash, cash equivalents and restricted cash $ 8,023

Divestiture

Divestiture	6 Months Ended
	Jun. 30, 2020
Divestiture [Abstract]
DIVESTITURE	NOTE 3 – DIVESTITURE On April 7, 2020, Carbon Energy Corporation, together with Nytis Exploration (USA) Inc. (the " Sellers MIPA Carbon Appalachia Nytis LLC Appalachia Divestiture Proceeds from the closing were used to settle all outstanding amounts associated with the 2018 Credit Facility (as defined below) and repay a portion of the Old Ironsides Notes. See Note 7 – Credit Facilities and Notes Payable for more information. We incurred exit costs in conjunction with the divestiture of one-time severance and termination benefits for the affected employees. The assets, liabilities and equity disposed of are set out in the table below: Amount Assets: Accounts receivable $ 9,651 Prepaid expenses 892 Derivative assets 3,159 Inventory 1,409 Oil and gas properties 128,993 Other property and equipment 14,035 Right-of-use assets 3,406 Other non-current assets 436 Liabilities and Equity: Accounts payable and accrued liabilities (13,355 ) Firm transportation contract obligations (12,981 ) Lease liabilities (3,406 ) Derivative liabilities (11 ) Production and property taxes payable (3,342 ) Asset retirement obligations (14,027 ) Equity in subsidiaries 8,785 Net assets disposed 123,644 Cash received 98,121 Transaction costs (8,940 ) Loss on Appalachia Divestiture $ 34,463 At June 30, 2020, restricted cash on the condensed consolidated balance sheet of approximately $6.7 million represents amounts held in escrow from the purchase price. The escrow amount will be released to the Company upon satisfaction of certain indemnification obligations and will be released upon the fulfillment of associated release requirements over the 36 months following the closing of the Appalachia Divestiture. Carbon and DGOC entered into a transition services agreement to provide, on an interim basis, certain services associated with the sold assets. The services commenced on May 26, 2020 and are expected to terminate in November 2020. Billings of approximately $269,000 are recorded as a reduction of general and administrative expenses during the three months ended June 30, 2020. The following table presents net income before non-controlling interests and net income attributable to controlling interests for the subsidiaries sold for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Net (loss) income before non-controlling interests $ (3,000) $ 5,003 $ 1,645 $ 3,923 Net (loss) income attributable to controlling interests $ (2,737) $ 5,309 $ 1,541 $ 3,719

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment, net consists of the following: (in thousands) June 30, December 31, Oil and gas properties: Proved oil and gas properties $ 125,006 $ 351,488 Unproved properties 1,616 4,872 Accumulated depreciation, depletion, amortization and impairment (10,911 ) (109,344 ) Oil and gas properties, net 115,711 247,016 Pipeline facilities and equipment - 12,814 Base gas - 1,937 Furniture and fixtures, computer hardware and software, and other equipment 2,614 6,762 Accumulated depreciation and amortization (1,425 ) (5,529 ) Other property and equipment, net 1,189 15,984 Total property and equipment, net $ 116,900 $ 263,000 Unproved oil and gas properties not subject to depletion 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 six months ended June 30, 2020 and 2019, there were no expiring or impaired leasehold costs that were reclassified into proved property. We capitalized overhead applicable to acquisition, development and exploration activities of approximately $134,000 and $372,000 for the three and six months ended June 30, 2020, respectively. For the three and six months ended June 30, 2019, we capitalized overhead applicable to acquisition, development and exploration activities of approximately $305,000 and $373,000, respectively. Depletion expense related to oil and gas properties for the three and six months ended June 30, 2020 was approximately $1.9 million and $5.3 million, respectively. Depletion expense related to oil and gas properties for the three and six months ended June 30, 2019 was approximately $3.5 million and $7.0 million, respectively. For the three and six months ended June 30, 2020 and 2019, we did not recognize any ceiling test impairments as our full cost pool did not exceed the ceiling limitations. Future declines in oil and natural gas prices, increases in future operating expenses and future development costs could result in impairments of our oil and gas properties in future periods. Impairment changes are a non-cash charge and accordingly would not affect cash flows but would adversely affect our net income and stockholders' equity.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	NOTE 5 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities consist of the following: (in thousands) June 30, December 31, Accounts payable $ 3,717 $ 9,875 Oil and gas revenue suspense 135 3,620 Gathering and transportation payables 906 1,877 Production taxes payable 31 3,212 Accrued lease operating costs - 664 Accrued ad valorem taxes-current 562 4,407 Accrued general and administrative expenses 2,521 3,260 Asset retirement obligations-current 3,384 5,021 Accrued interest 791 1,335 Accrued gas purchases - 1,392 Other liabilities 453 494 Total accounts payable and accrued liabilities $ 12,500 $ 35,157

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2020
Asset Retirement Obligation [Abstract]
ASSET RETIREMENT OBLIGATIONS	NOTE 6 – ASSET RETIREMENT OBLIGATIONS 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: Six Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 22,535 $ 22,310 Accretion expense 777 799 Obligations discharged with Appalachia Divestiture (14,027 ) - Additions 7 - Balance at end of period $ 9,292 $ 23,109 Less: Current portion (3,384 ) (3,708 ) Non-current portion $ 5,908 $ 19,401

Credit Facilities and Notes Pay

Credit Facilities and Notes Payable	6 Months Ended
	Jun. 30, 2020
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) June 30, December 31, 2018 Credit Facility – revolver $ - $ 69,150 2018 Credit Facility – term note - 5,833 Old Ironsides Notes 15,836 25,675 Paycheck Protection Program Loan 1,339 - Other debt 26 45 Total debt 17,201 100,703 Less: unamortized debt discount - (45 ) Total credit facilities and notes payable 17,201 100,658 Current portion of credit facilities and notes payable (1,339 ) (5,788 ) Non-current debt, net of current portion and unamortized debt discount $ 15,862 $ 94,870 Paycheck Protection Program Loan Reclass of non-current portion is open. In May 2020, the Company received loan proceeds of approximately $1.3 million (" PPP Loan PPP CARES Act The PPP Loan is evidenced by a promissory note, dated as of May 13, 2020 (the " PPP Note Deferral Period The Company intends to use the proceeds for purposes consistent with the PPP. In order to obtain full or partial forgiveness of the PPP Loan, the Company must request forgiveness and must provide satisfactory documentation in accordance with applicable Small Business Administration (" SBA Beginning one month following expiration of the Deferral Period, and continuing monthly until 24 months from the date of the PPP Note (the " Maturity Date Carbon Appalachia 2018 Credit Facility In 2018, the Company and its subsidiaries amended and restated its 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" Nytis USA "Borrowers" Using proceeds from the Appalachia Divestiture, we repaid the outstanding principal balance and accrued interest under the 2018 Credit Facility, including the term loan, of $72.3 million, and terminated the 2018 Credit Facility on May 26, 2020. Old Ironsides Notes On December 31, 2018, in connection with our acquisition (the " OIE Membership Acquisition Old Ironsides 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 six months ended June 30, 2020, the Company elected payment-in-kind interest of approximately $662,000. On May 25, 2020, Carbon entered into an Agreement Regarding Payoff and Release or Amendment of Notes (the " Payoff Agreement The third payment would be due within three business days after the first Contingent Payment (as defined in the MIPA). If the sum of the initial payment, the second payment and the third payment is at least $18.0 million, the Old Ironsides Notes will be amended such that the outstanding principal balance plus all accrued and unpaid interest is equal to $23.0 million (less the amount of the initial, second and third payments) and the Old Ironsides Notes will remain outstanding with no other change to the existing terms. If the sum of the initial payment, the second payment and the third payment is less than $18.0 million, the payments made by Carbon as of such date will be considered mandatory prepayments and the Old Ironsides Notes will remain outstanding with a maturity date of December 31, 2023 and no change to the existing terms. Carbon California The table below summarizes the outstanding notes payable – related party: (in thousands) June 30, December 31, Senior Revolving Notes, related party, due February 15, 2022 $ 37,200 $ 33,000 Subordinated Notes, related party, due February 15, 2024 13,390 13,000 Total principal 50,590 46,000 Less: Deferred notes costs (154 ) (175 ) Less: unamortized debt discount (952 ) (1,084 ) Total notes payable – related party $ 49,484 $ 44,741 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 December 31, 2019, the effective borrowing rate for the Senior Revolving Notes was 7.10%. 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 expenses and deposits and the long-term portion is included in other non-current assets for a combined value of approximately $458,000. For the three and six months ended June 30, 2020, Carbon California amortized fees of $70,000 and $141,000, 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 June 30, 2020, Carbon California had an outstanding discount of approximately $646,000, which is presented net of the Subordinated Notes within Notes payable-related party on the unaudited condensed consolidated balance sheets. During the three and six months ended June 30, 2020, Carbon California amortized $45,000 and $89,000, 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 June 30, 2020, Carbon California had an outstanding discount of $307,000 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 six months ended June 30, 2020, Carbon California amortized $42,000 and $21,000, 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. In December 2019, Carbon California amended the Senior Revolving Notes, the Subordinated Notes and the 2018 Subordinated Notes to amend the total leverage ratio and senior leverage ratio, effective September 30, 2019. The Senior Revolving Notes were also amended to provide a mechanism to determine a successor reference rate to LIBOR. In July 2020, Carbon California amended the Senior Revolving Notes, the Subordinated Notes and the 2018 Subordinated Notes to restrict additional withdrawals under the Senior Revolving Notes through December 31, 2020, amend the total leverage ratio, senior leverage ratio and interest coverage ratio and provide a waiver for non-compliance with its Senior Revolving Notes/EBITDA ratio at March 31, 2020. Also, the interest payable under the Subordinated Notes and the 2018 Subordinated Notes beginning May 15, 2020 would be paid in kind and added to the outstanding principal amount of each note. For the three months ended June 30, 2020, paid in kind interest was approximately $390,000. 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 at June 30, 2020 Carbon California's compliance with (A) a maximum Debt/EBITDA ratio of 6.0 to 1.0 (B) a maximum Senior Revolving Notes/EBITDA ratio of 4.5 to 1.0 and (C) a minimum interest coverage ratio of 1.65 to 1 and (ii) the Subordinated Notes require at June 30, 2020 Carbon California's compliance with (A) a maximum Debt/EBITDA ratio of 6.90 to 1.0, (B) a maximum Senior Revolving Notes/EBITDA ratio of 5.18 to 1.0, (C) a minimum interest coverage ratio of 1.4 to 1.0, (D) an asset coverage test whereby indebtedness may not exceed the product of 0.65 times Adjusted PV-10 of proved developed reserves set forth in the most recent reserve report, (E) maintenance of a minimum borrowing base of $30.0 million under the Senior Revolving Notes and (F) a minimum current ratio of 0.85 to 1.00. As of June 30, 2020, Carbon California was in compliance with its financial covenants.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2020
Revenue Recognition and Deferred Revenue [Abstract]
REVENUE	NOTE 8 – REVENUE The following tables present our disaggregated revenue by primary region within the United States and major product line: For the three months ended June 30, 2020 and 2019 (in thousands): Appalachian and Illinois Basins Ventura Basin Total Three Months Ended Three Months Ended Three Months Ended 2020 2019 2020 2019 2020 2019 Natural gas sales $ 4,011 $ 13,879 $ 127 $ 337 $ 4,138 $ 14,216 Natural gas liquids sales - - 49 195 49 195 Oil sales 194 1,558 3,573 8,344 3,767 9,902 Transportation and handling 274 322 - - 274 322 Marketing gas sales 2,380 3,221 - - 2,380 3,221 Total $ 6,859 $ 18,980 $ 3,749 $ 8,876 $ 10,608 $ 27,856 For the six months ended June 30, 2020 and 2019 (in thousands): Appalachian and Illinois Basins Ventura Basin Total Six Months Ended Six Months Ended Six Months Ended 2020 2019 2020 2019 2020 2019 Natural gas sales $ 12,030 $ 32,671 $ 542 $ 861 $ 12,572 $ 33,532 Natural gas liquids sales - - 201 441 201 441 Oil sales 1,339 3,095 9,643 15,796 10,982 18,891 Transportation and handling 908 1,056 - - 908 1,056 Marketing gas sales 8,698 8,165 - - 8,698 8,165 Total $ 22,975 $ 44,987 $ 10,386 $ 17,098 $ 33,361 $ 62,085 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 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.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLANS	NOTE 9 – 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. The Appalachia Divestiture was a change in control event; therefore, we accelerated the vesting of substantially all outstanding unvested restricted stock and unvested restricted performance units. Any remaining unvested restricted performance units were forfeited due to certain performance measures not achieved. Restricted Stock As of June 30, 2020, approximately 847,000 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 as defined in the agreement. During the six months ended June 30, 2020, approximately 400,000 restricted stock units vested. Compensation costs recognized for restricted stock grants were approximately $1.7 million and $1.9 million for the three and six months ended June 30, 2020, respectively, and approximately $224,000 and $403,000 for the three and six months ended June 30, 2019, respectively. Restricted Performance Units As of June 30, 2020, approximately 804,000 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. We account for the performance units granted during 2018 and 2019 at their fair value determined at the date of grant, which were $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. During the six months ended June 30, 2020, approximately 251,000 performance units vested and we recognized $1.4 million of compensation costs.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER COMMON SHARE	NOTE 10 – 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 and six months ended June 30, 2019, approximately 276,000 shares of restricted performance units subject to future contingencies were excluded from the computation of basic and diluted earnings per share. The following table sets forth the calculation of basic and diluted income (loss) per share: Three Months Six Months (in thousands, except per share amounts) 2020 2019 2020 2019 Net (loss) income attributable to common stockholders, basic and diluted (48,011 ) 6,154 (38,287 ) 1,979 Weighted-average number of common shares outstanding, basic 8,118 7,815 7,964 7,739 Add dilutive effects of non-vested shares of restricted stock and restricted performance units - 342 - 342 Weighted-average number of common shares outstanding, diluted 8,118 8,157 7,964 8,081 Net (loss) income per common share, basic $ (5.91 ) $ 0.79 $ (4.81 ) $ 0.26 Net (loss) income per common share, diluted $ (5.91 ) $ 0.75 $ (4.81 ) $ 0.24 Series B Convertible Preferred Stock - Related Party In May 2018, 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 $674,000 as of June 30, 2020 and increased by $150,000 during the six months ended June 30, 2020. Yorktown waived its right to be paid a liquidating distribution of approximately $5.6 million in connection with the Appalachia Divestiture until the restricted payment covenant in the Old Ironsides Notes is waived by Old Ironsides or until the payment in full of the Old Ironsides Notes or the earlier termination or cancellation of the Old Ironsides Notes, at which point the liquidating distribution will become immediately due and payable by Carbon out of Carbon's assets legally available for distribution to its stockholders.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 11 – 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 June 30, 2020, the Company has established a full valuation allowance against the balance of net deferred tax assets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 12 – 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 June 30, 2020 Assets: Commodity derivatives $ - $ 9,000 $ - $ 9,000 December 31, 2019 Assets: Commodity derivatives $ - $ 7,079 $ - $ 7,079 Liabilities: Commodity derivatives $ - $ 556 $ - $ 556 Commodity Derivative As of June 30, 2020, our commodity derivative financial instruments are comprised of 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 marketplace participant's view. All 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 Certain assets and liabilities are measured at fair value on a non-recurring basis. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances. The fair value of the following assets and liabilities are based on unobservable pricing inputs and therefore, are included within the Level 3 fair value hierarchy. Firm transportation contracts Debt Discount. Asset Retirement Obligations

Commodity Derivatives

Commodity Derivatives	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
COMMODITY DERIVATIVES	NOTE 13 – 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 production through December 2022. Subsequent to the Appalachia Divestiture, our remaining derivative contracts relate to Carbon California production. As of June 30, 2020, these derivative agreements consisted of the following: Oil Swaps* Oil Collars* Year WTI Weighted Brent Weighted Brent Weighted 2020 41,867 $ 50.12 123,630 $ 64.22 30,400 $ 47.00 - $75.00 2021 - $ - 86,341 $ 67.12 190,000 $ 47.00 - $75.00 2022 - $ - - $ - 199,900 $ 50.00 - $61.00 * Includes 100% of Carbon California's outstanding derivative hedges at June 30, 2020, and not our proportionate share. (a) NYMEX Light Sweet Crude West Texas Intermediate futures contracts for the respective period. (b) 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) June 30, December 31, Commodity derivative contracts: Commodity derivative asset $ 6,129 $ 5,915 Commodity derivative asset – non-current $ 2,871 $ 1,164 Commodity derivative liability $ - $ 469 Commodity derivative liability – non-current $ - $ 87 The table below summarizes the commodity settlements and unrealized gains and losses related to the Company's derivative instruments for the three and six months ended June 30, 2020 and 2019. Changes in the fair value of commodity derivative contracts are recognized in revenues in the unaudited condensed consolidated statements of operations and gains and losses are included within the cash flows from operating activities in the unaudited condensed consolidated statements of cash flows. Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Commodity derivative contracts: Settlement gain (loss) $ 5,363 $ 225 $ 8,441 $ (231 ) Unrealized gain (loss) (11,010 ) 8,455 5,626 (396 ) Total commodity derivative gain (loss) $ (5,647 ) $ 8,680 $ 14,067 $ (627 ) Commodity derivative settlement gains and losses are included within the cash flows from operating activities in the 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 June 30, 2020: Net Gross Recognized Recognized Gross Fair Value Assets/ Amounts Assets/ Balance Sheet Classification (in thousands) Liabilities Offset Liabilities Commodity derivative assets: Commodity derivative asset $ 6,196 $ (67 ) $ 6,129 Commodity derivative asset – non-current 3,674 (803 ) 2,871 Total derivative assets $ 9,870 $ (870 ) $ 9,000 Commodity derivative liabilities: Commodity derivative liability $ (67 ) $ 67 $ - Commodity derivative liability – non-current (803 ) 803 - Total derivative liabilities $ (870 ) $ 870 $ - Due to the volatility of oil and natural gas prices, the estimated fair value of our derivatives is subject to fluctuations from period to period.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 – COMMITMENTS AND CONTINGENCIES Delivery Commitments We had firm transportation contracts to ensure the transport for certain of our gas production to purchasers. These contracts were assumed in the EXCO Acquisition in October 2016 and the OIE Membership Acquisition in December 2018 and were reflected in the Company's unaudited condensed consolidated balance sheet. The remaining volumes and related demand charges for the remaining term of these contracts were assumed by DGOC as of the closing of the Appalachia Divestiture. Natural gas processing agreement We entered into an initial five-year gas processing agreement expiring in 2022 with 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 were approximately $1.8 million per year. We paid a processing fee of $2.50 per Mcf for the term of the agreement, with a minimum annual volume commitment of 720,000 Mcf. Effective June 1, 2020 we entered into a revised gas processing agreement expiring July 31, 2022. We will pay a processing fee based on actual midstream expenditures and processed gas volumes for the prior calendar year. The base fee for calendar year 2020 is $3.50 per Mcf delivered to the processor. An additional fee, ranging from 5% to 15% of the processing fee, is attributable to the price of the residue gas sold by the processor. We will receive 100% of the allocated proceeds for the processor's sale of our residue gas and natural gas liquids. Capital Commitments As of June 30, 2020, we had no capital commitments. Litigation The Company is subject to litigation and claims arising in the ordinary course of business. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. In the opinion of management, the anticipated results of any pending litigation and claims are not expected to have a material effect on the results of operations, the financial position, or the cash flows of the Company.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosure	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURE	NOTE 15 – SUPPLEMENTAL CASH FLOW DISCLOSURE Supplemental cash flow disclosures for the six months ended June 30, 2020 and 2019 are presented below: Six Months Ended (in thousands) 2020 2019 Cash paid for interest $ 3,445 $ 4,536 Non-cash transactions: Capital expenditures included in accounts payable and accrued liabilities $ (269 ) $ (39 ) Increase in asset retirement obligations $ 7 $ - Adjustments to OIE Membership Acquisition purchase price $ - $ 1,317

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 – SUBSEQUENT EVENTS On August 7, 2020, we obtained the necessary consent that allowed for the conveyance of certain assets associated with the Appalachia Divestiture that were initially excluded pending receipt of such consent. As a result, approximately $400,000 in escrowed funds were released to Carbon, and pursuant to the MIPA, within 10 business days DGOC is to deliver to Carbon approximately $1.6 million in additional funds that were allocated to the properties as part of the MIPA.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
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 the Company and its consolidated subsidiaries. Partnerships and subsidiaries in which we have a controlling interest are consolidated. 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.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheet to amounts shown in the unaudited condensed consolidated statement of cash flows in thousands: June 30, Cash and cash equivalents $ 1,311 Restricted cash 4,612 Other non-current assets 2,100 Total cash, cash equivalents and restricted cash $ 8,023

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of cash and cash equivalents	June 30, Cash and cash equivalents $ 1,311 Restricted cash 4,612 Other non-current assets 2,100 Total cash, cash equivalents and restricted cash $ 8,023
Schedule of restricted cash and cash equivalents	June 30, Cash and cash equivalents $ 1,311 Restricted cash 4,612 Other non-current assets 2,100 Total cash, cash equivalents and restricted cash $ 8,023

Divestiture (Tables)

Divestiture (Tables)	6 Months Ended
	Jun. 30, 2020
Schedule of net income before non-controlling interests and net income attributable to controlling interests for the subsidiaries sold	Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Net (loss) income before non-controlling interests $ (3,000) $ 5,003 $ 1,645 $ 3,923 Net (loss) income attributable to controlling interests $ (2,737) $ 5,309 $ 1,541 $ 3,719
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Schedule of assets, liabilities and equity disposal group, excluding discontinuted operations	Amount Assets: Accounts receivable $ 9,651 Prepaid expenses 892 Derivative assets 3,159 Inventory 1,409 Oil and gas properties 128,993 Other property and equipment 14,035 Right-of-use assets 3,406 Other non-current assets 436 Liabilities and Equity: Accounts payable and accrued liabilities (13,355 ) Firm transportation contract obligations (12,981 ) Lease liabilities (3,406 ) Derivative liabilities (11 ) Production and property taxes payable (3,342 ) Asset retirement obligations (14,027 ) Equity in subsidiaries 8,785 Net assets disposed 123,644 Cash received 98,121 Transaction costs (8,940 ) Loss on Appalachia Divestiture $ 34,463

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of net property and equipment	(in thousands) June 30, December 31, Oil and gas properties: Proved oil and gas properties $ 125,006 $ 351,488 Unproved properties 1,616 4,872 Accumulated depreciation, depletion, amortization and impairment (10,911 ) (109,344 ) Oil and gas properties, net 115,711 247,016 Pipeline facilities and equipment - 12,814 Base gas - 1,937 Furniture and fixtures, computer hardware and software, and other equipment 2,614 6,762 Accumulated depreciation and amortization (1,425 ) (5,529 ) Other property and equipment, net 1,189 15,984 Total property and equipment, net $ 116,900 $ 263,000

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	(in thousands) June 30, December 31, Accounts payable $ 3,717 $ 9,875 Oil and gas revenue suspense 135 3,620 Gathering and transportation payables 906 1,877 Production taxes payable 31 3,212 Accrued lease operating costs - 664 Accrued ad valorem taxes-current 562 4,407 Accrued general and administrative expenses 2,521 3,260 Asset retirement obligations-current 3,384 5,021 Accrued interest 791 1,335 Accrued gas purchases - 1,392 Other liabilities 453 494 Total accounts payable and accrued liabilities $ 12,500 $ 35,157

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2020
Asset Retirement Obligation [Abstract]
Schedule of reconciliation of the ARO	Six Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 22,535 $ 22,310 Accretion expense 777 799 Obligations discharged with Appalachia Divestiture (14,027 ) - Additions 7 - Balance at end of period $ 9,292 $ 23,109 Less: Current portion (3,384 ) (3,708 ) Non-current portion $ 5,908 $ 19,401

Credit Facilities and Notes P_2

Credit Facilities and Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of outstanding credit facilities and notes payable	(in thousands) June 30, December 31, 2018 Credit Facility – revolver $ - $ 69,150 2018 Credit Facility – term note - 5,833 Old Ironsides Notes 15,836 25,675 Paycheck Protection Program Loan 1,339 - Other debt 26 45 Total debt 17,201 100,703 Less: unamortized debt discount - (45 ) Total credit facilities and notes payable 17,201 100,658 Current portion of credit facilities and notes payable (1,339 ) (5,788 ) Non-current debt, net of current portion and unamortized debt discount $ 15,862 $ 94,870
Schedule of outstanding notes payable - related party	(in thousands) June 30, December 31, Senior Revolving Notes, related party, due February 15, 2022 $ 37,200 $ 33,000 Subordinated Notes, related party, due February 15, 2024 13,390 13,000 Total principal 50,590 46,000 Less: Deferred notes costs (154 ) (175 ) Less: unamortized debt discount (952 ) (1,084 ) Total notes payable – related party $ 49,484 $ 44,741

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2020
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 2020 2019 2020 2019 2020 2019 Natural gas sales $ 4,011 $ 13,879 $ 127 $ 337 $ 4,138 $ 14,216 Natural gas liquids sales - - 49 195 49 195 Oil sales 194 1,558 3,573 8,344 3,767 9,902 Transportation and handling 274 322 - - 274 322 Marketing gas sales 2,380 3,221 - - 2,380 3,221 Total $ 6,859 $ 18,980 $ 3,749 $ 8,876 $ 10,608 $ 27,856 For the six months ended June 30, 2020 and 2019 (in thousands): Appalachian and Illinois Basins Ventura Basin Total Six Months Ended Six Months Ended Six Months Ended 2020 2019 2020 2019 2020 2019 Natural gas sales $ 12,030 $ 32,671 $ 542 $ 861 $ 12,572 $ 33,532 Natural gas liquids sales - - 201 441 201 441 Oil sales 1,339 3,095 9,643 15,796 10,982 18,891 Transportation and handling 908 1,056 - - 908 1,056 Marketing gas sales 8,698 8,165 - - 8,698 8,165 Total $ 22,975 $ 44,987 $ 10,386 $ 17,098 $ 33,361 $ 62,085

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted (loss) income per share	Three Months Six Months (in thousands, except per share amounts) 2020 2019 2020 2019 Net (loss) income attributable to common stockholders, basic and diluted (48,011 ) 6,154 (38,287 ) 1,979 Weighted-average number of common shares outstanding, basic 8,118 7,815 7,964 7,739 Add dilutive effects of non-vested shares of restricted stock and restricted performance units - 342 - 342 Weighted-average number of common shares outstanding, diluted 8,118 8,157 7,964 8,081 Net (loss) income per common share, basic $ (5.91 ) $ 0.79 $ (4.81 ) $ 0.26 Net (loss) income per common share, diluted $ (5.91 ) $ 0.75 $ (4.81 ) $ 0.24

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 Assets: Commodity derivatives $ - $ 9,000 $ - $ 9,000 December 31, 2019 Assets: Commodity derivatives $ - $ 7,079 $ - $ 7,079 Liabilities: Commodity derivatives $ - $ 556 $ - $ 556

Commodity Derivatives (Tables)

Commodity Derivatives (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of commodity derivative contracts	Oil Swaps* Oil Collars* Year WTI Weighted Brent Weighted Brent Weighted 2020 41,867 $ 50.12 123,630 $ 64.22 30,400 $ 47.00 - $75.00 2021 - $ - 86,341 $ 67.12 190,000 $ 47.00 - $75.00 2022 - $ - - $ - 199,900 $ 50.00 - $61.00 * Includes 100% of Carbon California's outstanding derivative hedges at June 30, 2020, and not our proportionate share. (a) NYMEX Light Sweet Crude West Texas Intermediate futures contracts for the respective period. (b) Brent future contracts for the respective period.
Schedule of derivatives positions and balance sheet location	(in thousands) June 30, December 31, Commodity derivative contracts: Commodity derivative asset $ 6,129 $ 5,915 Commodity derivative asset – non-current $ 2,871 $ 1,164 Commodity derivative liability $ - $ 469 Commodity derivative liability – non-current $ - $ 87
Schedule of realized and unrealized gains and losses	Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Commodity derivative contracts: Settlement gain (loss) $ 5,363 $ 225 $ 8,441 $ (231 ) Unrealized gain (loss) (11,010 ) 8,455 5,626 (396 ) Total commodity derivative gain (loss) $ (5,647 ) $ 8,680 $ 14,067 $ (627 )
Schedule of commodity derivative contracts subject to master netting arrangements	Net Gross Recognized Recognized Gross Fair Value Assets/ Amounts Assets/ Balance Sheet Classification (in thousands) Liabilities Offset Liabilities Commodity derivative assets: Commodity derivative asset $ 6,196 $ (67 ) $ 6,129 Commodity derivative asset – non-current 3,674 (803 ) 2,871 Total derivative assets $ 9,870 $ (870 ) $ 9,000 Commodity derivative liabilities: Commodity derivative liability $ (67 ) $ 67 $ - Commodity derivative liability – non-current (803 ) 803 - Total derivative liabilities $ (870 ) $ 870 $ -

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosure (Tables)	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow disclosures	Six Months Ended (in thousands) 2020 2019 Cash paid for interest $ 3,445 $ 4,536 Non-cash transactions: Capital expenditures included in accounts payable and accrued liabilities $ (269 ) $ (39 ) Increase in asset retirement obligations $ 7 $ - Adjustments to OIE Membership Acquisition purchase price $ - $ 1,317

Organization (Details)

Organization (Details) - Carbon California [Member]	Jun. 30, 2020
Ownership percentage	53.92%
Prudential [Member]
Ownership percentage	46.08%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,311	$ 904
Restricted cash	4,612
Other non-current assets	2,100
Total cash, cash equivalents and restricted cash	$ 8,023	$ 904	$ 4,651	$ 5,736

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Assets:
Accounts receivable	$ 9,651		$ 9,651
Prepaid expenses	892		892
Derivative assets	3,159		3,159
Inventory	1,409		1,409
Oil and gas properties	128,993		128,993
Other property and equipment	14,035		14,035
Right-of-use assets	3,406		3,406
Other non-current assets	436		436
Liabilities and Equity:
Accounts payable and accrued liabilities	(13,355)		(13,355)
Firm transportation contract obligations	(12,981)		(12,981)
Lease liabilities	(3,406)		(3,406)
Derivative liabilities	(11)		(11)
Production and property taxes payable	(3,342)		(3,342)
Asset retirement obligations	(14,027)		(14,027)
Equity in subsidiaries	8,785		8,785
Net assets disposed	123,644		123,644
Cash received			98,121
Transaction costs			(8,940)
Loss on Appalachia Divestiture	$ 34,463		$ 34,463

Divestiture (Details 1)

Divestiture (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Divestiture [Abstract]
Net (loss) income before non-controlling interests	$ (3,000)	$ 5,003	$ 1,645	$ 3,923
Net (loss) income attributable to controlling interests	$ (2,737)	$ 5,309	$ 1,541	$ 3,719

Divestiture (Details Textual)

Divestiture (Details Textual) - USD ($) $ in Thousands	Apr. 07, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Divestiture (Textual)
Consideration for sale of subsidiaries	$ 110,000
Contingent consideration	$ 15,000
Proceeds from divestiture of business				$ 98,121
Loss on divestiture		$ (34,463)		(34,463)
Contingent payment, description	The contingent payment will be calculated and paid yearly by January 5 of each of 2021, 2022 and 2023 based on the contingent payment calculation for calendar years 2020, 2021 and 2022.
Amounts held in escrow from the purchase price		6,700		$ 6,700
Costs of transition services agreement		$ 269

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Oil and gas properties:
Proved oil and gas properties	$ 125,006	$ 351,488
Unproved properties	1,616	4,872
Accumulated depreciation, depletion, amortization and impairment	(10,911)	(109,344)
Oil and gas properties, net	115,711	247,016
Pipeline facilities and equipment		12,814
Base gas		1,937
Furniture and fixtures, computer hardware and software, and other equipment	2,614	6,762
Accumulated depreciation and amortization	(1,425)	(5,529)
Other property and equipment, net	1,189	15,984
Total property and equipment, net	$ 116,900	$ 263,000

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property and Equipment (Textual)
Capitalized overhead	$ 134	$ 305	$ 372	$ 373
Depletion expense related to oil and gas properties	$ 1,900	$ 3,500	5,300	7,000
Leasehold costs reclassified into proved property

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Payables and Accruals [Abstract]
Accounts payable	$ 3,717	$ 9,875
Oil and gas revenue suspense	135	3,620
Gathering and transportation payables	906	1,877
Production taxes payable	31	3,212
Accrued lease operating costs		664
Accrued ad valorem taxes-current	562	4,407
Accrued general and administrative expenses	2,521	3,260
Asset retirement obligations-current	3,384	5,021	$ 3,708
Accrued interest	791	1,335
Accrued gas purchases		1,392
Other liabilities	453	494
Total accounts payable and accrued liabilities	$ 12,500	$ 35,157

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Asset Retirement Obligation [Abstract]
Balance at beginning of period			$ 22,535	$ 22,310
Accretion expense	$ 299	$ 405	777	799
Obligations discharged with Appalachia Divestiture			(14,027)
Additions			7
Balance at end of period	9,292	23,109	9,292	23,109
Less: Current portion	(3,384)	(3,708)	(3,384)	(3,708)	$ (5,021)
Non-current portion	$ 5,908	$ 19,401	$ 5,908	$ 19,401	$ 17,514

Credit Facilities and Notes P_3

Credit Facilities and Notes Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
2018 Credit Facility - revolver [Member]
Debt Instrument [Line Items]
Total debt		$ 69,150
2018 Credit Facility - term note [Member]
Debt Instrument [Line Items]
Total debt		5,833
Old Ironsides Notes [Member]
Debt Instrument [Line Items]
Total debt	15,836	25,675
Paycheck Protection Program Loan [Member]
Debt Instrument [Line Items]
Total debt	1,339
Other Debt [Member]
Debt Instrument [Line Items]
Total debt	26	45
Credit Facilities [Member]
Debt Instrument [Line Items]
Total debt	17,201	100,703
Less: unamortized debt discount		(45)
Total credit facilities and notes payable	17,201	100,658
Current portion of credit facilities and notes payable	(1,339)	(5,788)
Non-current debt, net of current portion and unamortized debt discount	$ 15,862	$ 94,870

Credit Facilities and Notes P_4

Credit Facilities and Notes Payable (Details 1) - Prudential [Member] - Carbon California [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total principal	$ 50,590	$ 50,590
Less: Deferred notes costs	(154)	(175)
Less: unamortized debt discount	(952)	(1,084)
Total notes payable - related party	49,484	44,741
Senior Revolving Notes [Member]
Debt Instrument [Line Items]
Total principal	37,200	33,000
Subordinated Notes [Member]
Debt Instrument [Line Items]
Total principal	$ 13,390	$ 13,000

Credit Facilities and Notes P_5

Credit Facilities and Notes Payable (Details Textual) - USD ($) $ in Thousands	May 31, 2020	Feb. 01, 2019	Jun. 30, 2020	Jun. 30, 2019	May 26, 2020	May 25, 2020	Feb. 29, 2020	Mar. 31, 2019
Credit Facilities and Notes Payable (Textual)
Senior secured asset-based revolving credit facility			$ 8,839	$ 4,029
Amortization of deferred issuance costs			$ 857	405
Revolving credit facility maturing date			Jul. 31, 2022
Paid in kind interest			$ 1,052	1,244
One-time principal reduction payment			$ 88,803	$ 13,185
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
Initial payment of payoff agreement						$ 10,500
Second payment of payoff agreement						20,000
Minimum amount of intial and second payment of payoff agreement						18,000
Maximum amount of intial and second payment of payoff agreement						20,000
Accrued and unpaid interest for the initial and second payments						21,500
Third payment of payoff agreement						18,000
Accrued and unpaid interest for the scond and third payments						$ 23,000
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%
Paid in kind interest			$ 662
2018 Credit Facility [Member] | Carbon Appalachia [Member]
Credit Facilities and Notes Payable (Textual)
Senior secured asset-based revolving credit facility			500,000
Credit facility			75,000				$ 73,000
Additional borrowing capacity available
Revolving credit facility maturing date			Dec. 31, 2022
Term loan			$ 15,000		$ 72,300
Sublimit for letters of credit			$ 1,500
Number of monthly installments			18
Paycheck Protection Program Loan [Member]
Credit Facilities and Notes Payable (Textual)
Cash and cash equivalents of borrowers not to exceed	$ 100,000
Interest rate (as a percent)	1.00%
Percentage of forgiven amount for non-payroll costs	40.00%
Amount of reduces salaries and wages for employees	$ 100,000
Percentage of reduces salaries and wages for employees	25.00%
Loans received	$ 1,300

Credit Facilities and Notes P_6

Credit Facilities and Notes Payable (Details Textual 1) $ in Thousands	May 01, 2018USD ($)shares	Feb. 15, 2017USD ($)shares	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Apr. 01, 2020USD ($)
Credit Facilities and Notes Payable (Textual)
Notes maturity date				Jul. 31, 2022
Amortization of deferred issuance costs				$ 857	$ 405
Paid in kind interest				1,052	1,244
Carbon California [Member] | Payment in Kind (PIK) Note [Member]
Credit Facilities and Notes Payable (Textual)
Paid in kind interest			$ 390
Carbon California [Member] | Prudential [Member] | Senior Revolving Notes [Member]
Credit Facilities and Notes Payable (Textual)
Initial revolving borrowing capacity		$ 25,000
Notes maturity date		Feb. 15, 2022
Principal outstanding			$ 10,000	$ 10,000
Borrowing base amount						$ 40,000
Effective borrowing rate			7.10%	7.10%
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			$ 458	$ 458
Amortization of deferred issuance costs				70	141
Debt instrument, covenant, debt to EBITDA ratio		6
Debt instrument, covenant, senior revolving notes to EBITDA ratio		4.5
Debt instrument, covenant, interest coverage ratio		1.65
Debt instrument, covenant, current ratio		1
Carbon California [Member] | Prudential [Member] | Senior Revolving Notes [Member] | LIBOR [Member]
Credit Facilities and Notes Payable (Textual)
Effective borrowing rate		5.50%
Carbon California [Member] | Prudential [Member] | Senior Revolving Notes [Member] | Prime Rate [Member]
Credit Facilities and Notes Payable (Textual)
Effective borrowing rate		4.50%
Carbon California [Member] | Prudential [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	89
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			646	646
Proceeds from debt		$ 30,000
Principal prepayment allowed (as a percent)		100.00%
Prepayment fee (as a percent)		3.00%
Debt instrument, covenant, debt to EBITDA ratio		6.90
Debt instrument, covenant, senior revolving notes to EBITDA ratio		5.18
Debt instrument, covenant, interest coverage ratio		1.4
Debt instrument, covenant, current ratio		0.85
Percentage of adjusted PV-10 not to exceed indebtedness		0.65%
Carbon California [Member] | Prudential [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			42		$ 21
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			$ 307	$ 307
Proceeds from debt	$ 3,000
Principal prepayment allowed (as a percent)	100.00%
Prepayment fee (as a percent)	3.00%

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total [Member]
Disaggregation of Revenue [Line Items]
Total	$ 10,608	$ 27,856	$ 33,361	$ 62,085
Natural gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	4,138	14,216	12,572	33,532
Natural gas liquids sales [Member]
Disaggregation of Revenue [Line Items]
Total	49	195	201	441
Oil sales [Member]
Disaggregation of Revenue [Line Items]
Total	3,767	9,902	10,982	18,891
Transportation and handling [Member]
Disaggregation of Revenue [Line Items]
Total	274	322	908	1,056
Marketing gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	2,380	3,221	8,698	8,165
Appalachian and Illinois Basins [Member]
Disaggregation of Revenue [Line Items]
Total	6,859	18,980	22,975	44,987
Appalachian and Illinois Basins [Member] | Natural gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	4,011	13,879	12,030	32,671
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	194	1,558	1,339	3,095
Appalachian and Illinois Basins [Member] | Transportation and handling [Member]
Disaggregation of Revenue [Line Items]
Total	274	322	908	1,056
Appalachian and Illinois Basins [Member] | Marketing gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	2,380	3,221	8,698	8,165
Ventura Basin [Member]
Disaggregation of Revenue [Line Items]
Total	3,749	8,876	10,386	17,098
Ventura Basin [Member] | Natural gas sales [Member]
Disaggregation of Revenue [Line Items]
Total	127	337	542	861
Ventura Basin [Member] | Natural gas liquids sales [Member]
Disaggregation of Revenue [Line Items]
Total	49	195	201	441
Ventura Basin [Member] | Oil sales [Member]
Disaggregation of Revenue [Line Items]
Total	3,573	8,344	9,643	15,796
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		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Share-based Arrangements with Employees and Nonemployees [Abstract]
Shares authorized	1,600,000		1,600,000
Shares available for grant	254,000		254,000
Restricted Performance Units [Member]
Share-based Arrangements with Employees and Nonemployees [Abstract]
Granted (in shares)			804,000
Vested (in shares)			251,000
Compensation costs			$ 1,400
Fair value of performance units at date of grant					$ 10	$ 9.80
Restricted Stock [Member]
Share-based Arrangements with Employees and Nonemployees [Abstract]
Granted (in shares)			847,000
Vested (in shares)			400,000
Compensation costs recognized	$ 1,700	$ 224	$ 1,900	$ 403

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net (loss) income attributable to common stockholders, basic and diluted	$ (48,011)	$ 6,154	$ (38,287)	$ 1,979
Weighted-average number of common shares outstanding, basic	8,118	7,815	7,964	7,739
Add dilutive effects of non-vested shares of restricted stock and restricted performance units		342		342
Weighted-average number of common shares outstanding, diluted	8,118	8,157	7,964	8,081
Net (loss) income per common share, basic	$ (5.91)	$ 0.79	$ (4.81)	$ 0.26
Net (loss) income per common share, diluted	$ (5.91)	$ 0.75	$ (4.81)	$ 0.24

Earnings (Loss) Per Common Sh_4

Earnings (Loss) Per Common Share (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	May 31, 2018	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issuance of preferred stock, value		$ 1		$ 1
Issuance of preferred stock, shares		50,000		50,000
Preferred return		$ 674		$ 524
Restricted Performance Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from computation of diluted earnings per share			276,000
Yorktown [Member] | Old Ironsides [Member] | Carbon Appalachia [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of liquidating distribution waived		5,600
Series B Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issue price, per share	$ 0.01
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
Issuance of preferred stock, shares	50,000
Conversion price, per share	$ 8
Annual per share dividend rate	6.00%
Issue price, per share	$ 100
Preferred return		674
Preferred return increased		$ 150
Convertible preferred stock shares issued upon conversion	12.5
Preferred stock, conversion ratio, stock price trigger	15.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value Measurements [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Commodity derivatives	$ 9,000	$ 7,079
Liabilities:
Commodity derivatives		556
Level 1 [Member]
Assets:
Commodity derivatives
Liabilities:
Commodity derivatives
Level 2 [Member]
Assets:
Commodity derivatives	9,000	7,079
Liabilities:
Commodity derivatives		556
Level 3 [Member]
Assets:
Commodity derivatives
Liabilities:
Commodity derivatives

Fair Value Measurements (Deta_2

Fair Value Measurements (Details Textual) - Fair Value, Inputs, Level 3 [Member] - Non-Recurring [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)shares
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
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
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
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]	Jun. 30, 2020bbl$ / Bbl	[1]
2020 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	41,867
Weighted Average Price | $ / bbl	50.12	[2]
2020 [Member] | Oil Swaps [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	123,630
Weighted Average Price | $ / bbl	64.22	[3]
2020 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	30,400
2020 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[3]
2020 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	75	[3]
2021 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl
Weighted Average Price | $ / bbl		[2]
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	[3]
2021 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	190,000
2021 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	47	[3]
2021 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	75	[3]
2022 [Member] | Oil Swaps [Member] | WTI Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl
Weighted Average Price | $ / bbl		[2]
2022 [Member] | Oil Swaps [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl
2022 [Member] | Oil Collars [Member] | Brent Bbl [Member]
Derivative agreements details:
Crude oil, notional amount (in Bbl) | bbl	199,900
2022 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Minimum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	50	[3]
2022 [Member] | Oil Collars [Member] | Brent Bbl [Member] | Maximum [Member]
Derivative agreements details:
Weighted Average Price | $ / bbl	61	[3]
[1]	Includes 100% of Carbon California's outstanding derivative hedges at June 30, 2020, and not our proportionate share.
[2]	NYMEX Light Sweet Crude West Texas Intermediate futures contracts for the respective period.
[3]	Brent future contracts for the respective period.

Commodity Derivatives (Details

Commodity Derivatives (Details 1) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Commodity derivative contracts:
Commodity derivative asset	$ 6,129	$ 5,915
Commodity derivative asset - non-current	2,871	1,164
Commodity derivative liability		469
Commodity derivative liability - non-current		$ 87

Commodity Derivatives (Detail_2

Commodity Derivatives (Details 2) - Commodity derivative contracts [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Settlement gain (loss)	$ 5,363	$ 225	$ 8,441	$ (231)
Unrealized gain (loss)	(11,010)	8,455	5,626	(396)
Total commodity derivative gain (loss)	$ (5,647)	$ 8,680	$ 14,067	$ (627)

Commodity Derivatives (Detail_3

Commodity Derivatives (Details 3) $ in Thousands	Jun. 30, 2020USD ($)
Commodity derivative asset - current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Assets	$ 6,196
Gross Amounts Offset	(67)
Net Recognized Fair Value Assets	6,129
Commodity derivative asset - non-current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Assets	3,674
Gross Amounts Offset	(803)
Net Recognized Fair Value Assets	2,871
Total derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Assets	9,870
Gross Amounts Offset	(870)
Net Recognized Fair Value Assets	9,000
Commodity derivative liability - current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Liabilities	(67)
Gross Amounts Offset	67
Net Recognized Fair Value Liabilities
Commodity derivative liability - non-current [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Liabilities	(803)
Gross Amounts Offset	803
Net Recognized Fair Value Liabilities
Total derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Recognized Liabilities	(870)
Gross Amounts Offset	870
Net Recognized Fair Value Liabilities

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)$ / McfMcf	Jun. 01, 2020$ / Mcf
Commitments and Contingencies (Textual)
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	3.50
Percentage of proceeds received from residue gas and NGLs	100.00%
Expire date	Jul. 31, 2022
Minimum [Member]
Commitments and Contingencies (Textual)
Percentage of additional processing fee	5.00%
Maximum [Member]
Commitments and Contingencies (Textual)
Percentage of additional processing fee	15.00%

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosure (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 3,445	$ 4,536
Non-cash transactions:
Capital expenditures included in accounts payable and accrued liabilities	(269)	(39)
Increase in asset retirement obligations	7
Adjustments to OIE Membership Acquisition purchase price		$ 1,317

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Aug. 07, 2020USD ($)
Escrowed funds released after consent for conveyance of assets	$ 400,000
Additional escrowed funds released after consent for conveyance of assets	$ 1,600,000