Abraxas Petroleum (AXAS) 10-K 31 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 18, 2022	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0000867665
Entity Registrant Name	ABRAXAS PETROLEUM CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-16071
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	74-2584033
Entity Address, Address Line One	18803 Meisner Drive
Entity Address, City or Town	San Antonio
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78258
City Area Code	210
Local Phone Number	490-4788
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	AXAS
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 26,530,865
Entity Common Stock, Shares Outstanding		8,421,910
Auditor Name	ADKF, P.C.
Auditor Location	San Antonio, Texas
Auditor Firm ID	297

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 10,034	$ 2,775
Accounts receivable:
Joint owners, net	1,117	1,255
Oil and gas production sales	12,280	8,794
Other	150	0
Total accounts receivable	13,547	10,049
Derivative asset - short-term	0	9,639
Other current assets	498	1,588
Total current assets	24,079	24,051
Property and equipment
Proved oil and gas properties, full cost method	1,165,707	1,167,333
Other property and equipment	39,337	39,456
Total	1,205,044	1,206,789
Less accumulated depreciation, depletion, amortization and impairment	(1,099,075)	(1,083,843)
Total property and equipment - net	105,969	122,946
Operating lease right-of-use assets	173	228
Derivative asset, long-term	0	10,281
Other assets	255	255
Total assets	130,476	157,761
Current liabilities:
Accounts payable	4,678	6,074
Joint interest oil and gas production payable	13,347	8,795
Accrued interest	477	86
Other accrued liabilities	347	230
Derivative liabilities - short-term	442	480
Termination of derivative contracts	8,022	0
Right of use liability	40	53
Current maturities of long-term debt	212,688	202,751
Other current liabilities	0	850
Total current liabilities	240,041	219,319
Right of use liability	110	150
Future site restoration	4,708	7,360
Total liabilities	247,064	230,728
Commitments and contingencies (Note 8)
Stockholders' Deficit
Preferred stock, par value $0.01 per share - authorized 1,000,000 shares; - 0- shares issued and outstanding	0	0
Common stock, par value $0.01 per share, authorized 20,000,000 shares; 8,421,910 issued and outstanding at December 31, 2020 and 2021	84	84
Additional paid-in capital	430,422	429,476
Accumulated deficit	(547,094)	(502,527)
Total stockholders' deficit	(116,588)	(72,967)
Total liabilities and stockholders' deficit	130,476	157,761
Debt Instruments Excluding PPP Loan [Member]
Current liabilities:
Long-term debt - less current maturities	2,205	2,515
Paycheck Protection Program, CARES Act [Member]
Current liabilities:
Long-term debt - less current maturities	$ 0	$ 1,384

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	8,421,910	8,421,910
Common stock, outstanding (in shares)	8,421,910	8,421,910

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Other	$ 22	$ 59
Total Revenue	78,858	43,043
Operating costs and expenses
Lease operating	17,914	16,458
Production and ad valorem taxes	6,223	4,632
Rig expense	478	762
Depreciation, depletion, amortization and accretion	15,643	24,846
Proved property impairment	0	186,980
General and administrative (including stock-based compensation of $946 and $1,312, respectively)	8,116	8,783
Total operating costs and expenses	48,374	242,461
Operating (loss) income	30,484	(199,418)
Other (income) expense:
Interest income	(15)	(39)
Interest expense	35,773	21,281
Amortization of deferred financing fees	4,804	2,565
Deferred finance fees and warrant cancelation	4,212	0
(Gain) loss on derivative contracts	33,022	(42,880)
Gain on sale of non-oil and gas assets	(29)	0
Other	0	69
Total other (income) expense	75,051	(14,896)
(Loss) before income tax	(44,567)	(184,522)
Income tax (expense) benefit	0	0
Net loss	$ (44,567)	$ (184,522)
Net loss per common share - basic (in dollars per share)	$ (5.30)	$ (22.01)
Net loss per common share - diluted (in dollars per share)	$ (5.30)	$ (22.01)
Weighted average shares outstanding
Basic (in shares)	8,408	8,382
Diluted (in shares)	8,408	8,382
Paycheck Protection Program, CARES Act [Member]
Other (income) expense:
Gain (loss) on debt extinguishment	$ (2,716)	$ 0
Second Lien Credit Facility [Member]
Other (income) expense:
Gain (loss) on debt extinguishment	0	4,108
Oil Revenues [Member]
Revenues:
Revenues	61,228	41,969
Gas Revenues [Member]
Revenues:
Revenues	8,656	586
Natural Gas Liquids Revenues [Member]
Revenues:
Revenues	$ 8,952	$ 429

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stock-based compensation	$ 946	$ 1,312

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	8,436,498
Balance at Dec. 31, 2019	$ 84	$ 421,740	$ (318,005)	$ 103,819
Net loss	0	0	(184,522)	(184,522)
Warrant issued	0	6,424	0	6,424
Stock-based compensation	$ 0	1,312	0	1,312
Restricted stock issued, net of forfeitures (in shares)	(14,588)
Restricted stock issued, net of forfeitures	$ 0	0	0	$ 0
Balance (in shares) at Dec. 31, 2020	8,421,910			8,421,910
Balance at Dec. 31, 2020	$ 84	429,476	(502,527)	$ (72,967)
Net loss	0		(44,567)	(44,567)
Stock-based compensation	$ 0	946	0	$ 946
Balance (in shares) at Dec. 31, 2021	8,421,910			8,421,910
Balance at Dec. 31, 2021	$ 84	$ 430,422	$ (547,094)	$ (116,588)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Activities:
Net loss	$ (44,567)	$ (184,522)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Loss (gain) on sale of non-oil and gas assets	(29)	0
Net loss (gain) on derivative contracts	33,022	(42,880)
Net cash settlements received (paid) on derivative contracts	(3,197)	16,006
Depreciation, depletion and amortization	15,312	24,432
Proved property impairment	0	186,980
Amortization of deferred financing fees and issuance discount	8,781	3,926
Non-cash financing fees and warrant cancellation	194	0
Accretion of future site restoration	330	414
Plugging cost	(342)	(236)
Non-cash interest	24,705	12,695
Non-cash hedge termination	9,943	0
Stock-based compensation	946	1,312
Changes in operating assets and liabilities:
Accounts receivable	(3,498)	9,596
Other assets	(8,851)	(394)
Accounts payable	3,151	(15,304)
Accrued expenses and other	(765)	(148)
Net cash provided by operating activities	32,419	15,985
Investing Activities
Capital expenditures, including purchase and development of properties	(887)	(12,557)
Proceeds from the sale of oil and gas properties	141	0
Proceeds from the sale of non-oil and gas assets	228	0
Net cash (used) in investing activities	(518)	(12,557)
Financing Activities
Payments of long-term borrowings	(25,816)	(9,059)
Deferred financing fees	(158)	(978)
Net cash (used) in financing activities	(24,642)	(653)
Increase in cash and cash equivalents	7,259	2,775
Cash and cash equivalents at beginning of period	2,775	0
Cash and cash equivalents at end of period	10,034	2,775
Supplemental disclosure of cash flow information:
Interest paid	6,463	7,174
Income tax paid	0	0
Non-cash investing and financing activities
Change in asset retirement obligation cost and liabilities	204	(22)
Asset retirement obligations associated with dispositions	(2,845)	(216)
Change in capital expenditures included in accounts payable	5	(7,157)
Second Lien Credit Facility [Member]
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Gain (loss) on debt extinguishment	0	4,108
Paycheck Protection Program, CARES Act [Member]
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Gain (loss) on debt extinguishment	(2,716)	0
Financing Activities
Proceeds from long-term borrowings	1,332	1,384
First Lien Credit Facility [Member]
Financing Activities
Proceeds from long-term borrowings	$ 0	$ 8,000

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Nature of Operations We are an independent energy company primarily engaged in the acquisition, exploitation, development and production of oil and gas in the United States. Our oil and gas assets are located primarily in two The terms “Abraxas,” “Abraxas Petroleum,” “we,” “us,” “our” or the “Company” refer to Abraxas Petroleum Corporation and all of its subsidiaries, including Raven Drilling LLC (“Raven Drilling”). Rig Accounting In accordance with SEC Regulation S- X, no not 2020 2021 Use of Estimates The consolidated financial statements of the Company have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates pertain to proved oil, gas and NGL reserves and related cash flow estimates used in impairment tests of oil and gas properties, the fair value of assets and liabilities acquired in business combinations, derivative contracts, the provision for income taxes including uncertain tax positions, stock based compensation, asset retirement obligations, accrued oil and gas revenues and expenses, as well as estimates of expenses related to depreciation, depletion, amortization and accretion. Actual results could differ from those estimates. The process of estimating oil and gas reserves in accordance with SEC requirements is complex and involves decisions and assumptions in evaluating the available geological, geophysical, engineering and economic data. Accordingly, these estimates are imprecise. Actual future production, oil and gas prices, differentials, revenues, taxes, capital expenditures, operating expenses and quantities of recoverable oil and gas reserves most likely will vary from those estimated. Any significant variance could materially affect the estimated quantities and present value of our reserves. In addition, we may Reclassifications Certain reclassifications have been made to the prior year financial statements to conform to the current period presentation. These reclassifications were to share and per share data related to the 1 October 19, 2020 no Concentration of Credit Risk Financial instruments which potentially expose the Company to credit risk consist principally of trade receivables and derivative contracts. Accounts receivable are generally from companies with significant oil and gas marketing or operating activities. The Company performs ongoing credit evaluations and, generally, requires no The Company maintains any cash and cash equivalents in excess of federally insured limits in prominent financial institutions considered by the Company to be of high credit quality. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and short-term investments with original maturities of three Accounts Receivable Accounts receivable are reported net of an allowance for doubtful accounts of approximately $0.1 million at December 31, 2020 2021 Industry Segment and Geographic Information The Company operates in one industry segment, which is the exploration, development and production of oil and gas with all of the Company’s operational activities being conducted in the U.S. The Company’s current operational activities and the Company’s consolidated revenues are generated from markets exclusively in the U.S., and the Company has no long lived assets located outside the U.S. Oil and Gas Properties The Company follows the full cost method of accounting for oil and gas properties. Under this method, certain direct costs and indirect costs associated with acquisition of properties and successful as well as unsuccessful exploration and development activities are capitalized. Depreciation, depletion, and amortization of capitalized oil and gas properties and estimated future development costs, excluding unproved properties, are based on the unit-of-production method based on proved reserves. Net capitalized costs of oil and gas properties, less related deferred taxes, are limited by country, to the lower of unamortized cost or the cost ceiling, defined as the sum of the present value of estimated future net revenues from proved reserves based on unescalated prices discounted at 10%, plus the cost of properties not No not December 31, 2020 December 31, 2021, not Other Property and Equipment Other property and equipment are recorded at cost. Depreciation of other property and equipment is provided over the estimated useful lives using the straight-line method. Major renewals and improvements are recorded as additions to the property and equipment accounts. Repairs that do not Estimates of Proved Oil and Gas Reserves Estimates of our proved reserves included in this report are prepared in accordance with GAAP and SEC guidelines. The accuracy of a reserve estimate is a function of: • the quality and quantity of available data; • the interpretation of that data; • the accuracy of various mandated economic assumptions; and • the judgment of the persons preparing the estimate. Our proved reserve information included in this report was based on studies performed by our independent petroleum engineers assisted by the engineering and operations departments of Abraxas. Estimates prepared by other third may may may In accordance with SEC requirements, we based the estimated discounted future net cash flows from proved reserves on the average of oil and gas prices based on the unweighted average 12 first may The estimates of proved reserves materially impact depreciation, depletion and amortization, or DD&A expense. If the estimates of proved reserves decline, the rate at which we record DD&A expense will increase, reducing future net income. Such a decline may may Derivative Instruments and Hedging Activities The Company enters into agreements to hedge the risk of future oil and gas price fluctuations. Such agreements are typically in the form of fixed price commodity and basis swaps, which limit the impact of price fluctuations with respect to the Company’s sale of oil and gas. While it is never management’s intention to hold or issue derivative instruments for speculative trading purposes, conditions could arise where actual production is less than estimated which could result in over hedged volumes. All derivative instruments are recorded on the Consolidated Balance Sheets at fair value as either short-term or long-term assets or liabilities based on their anticipated settlement date. The derivative instruments the Company utilizes are based on index prices that may 815. not Fair Value of Financial Instruments The Company includes fair value information in the notes to consolidated financial statements when the fair value of its financial instruments is materially different from the carrying value. The carrying value of those financial instruments that are classified as current, except for derivative instruments, approximates fair value because of the short maturity of these instruments. For noncurrent financial instruments, the Company uses quoted market prices or, to the extent that there are no Share-Based Payments Options granted are valued at the date of grant and expense is recognized over the vesting period. The Company currently utilizes a standard option pricing model (Black-Scholes) to measure the fair value of stock options granted to employees and directors. Restricted stock awards are awards of common stock that are subject to restrictions on transfer and to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such restricted stock is determined using the market price on the grant date and expense is recorded over the vesting period. For the years ended December 31, 2020 2021 Restoration, Removal and Environmental Liabilities The Company is subject to extensive federal, state and local environmental laws and regulations. These laws regulate the discharge of materials into the environment and may no Liabilities for expenditures of a noncapital nature are recorded when environmental assessments and/or remediation is probable, and the costs can be reasonably estimated. Such liabilities are generally undiscounted unless the timing of cash payments for the liability or component are fixed or reliably determinable. The fair value of a liability for an asset’s retirement obligation is recorded in the period in which it is incurred and the corresponding cost capitalized by increasing the carrying amount of the related long-lived asset. The liability is accreted to its then present value each period and the capitalized cost is depreciated over the estimated useful life of the related asset. For all periods presented, we have included estimated future costs of abandonment and dismantlement in our full cost amortization base and we amortize these costs as a component of our depletion expense in the accompanying consolidated financial statements. Each year, the Company reviews, and to the extent necessary, revises its asset retirement obligation estimates. The following table (in thousands) summarizes changes in the Company’s future site restoration obligations during the two December 31: 2020 2021 Beginning future site restoration obligation $ 7,420 $ 7,360 New wells placed on production and other 43 1 Deletions related to property disposals (216 ) (2,845 ) Deletions related to plugging costs (235 ) (342 ) Accretion expense and other 414 330 Revisions and other (66 ) 204 Ending future site restoration obligation $ 7,360 $ 4,708 Revenue Recognition and Major Purchasers The Company recognizes oil and gas revenue from its interest in producing wells as oil and gas is sold from those wells, net of royalties, control of the product has transferred to the purchaser and collectability is reasonably assured. During 2020 2021 Deferred Financing Fees Deferred financing fees are being amortized on the effective yield basis over the term of the related debt. Income Taxes Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to be in effect with respect to taxable income in the years in which those temporary differences are expected to be recovered or settled. Uncertainties exist as to the future utilization of the operating loss carryforwards. Therefore, we have established a valuation allowance of $124.08 million for deferred tax assets at December 31, 2021 Accounting for Uncertainty in Income Taxes Evaluation of a tax position is a two first not second not 50% Tax positions that previously failed to meet the more-likely-than- not first no not first no December 31, 2021 Adoption of New Accounting Standards In March 2020, No. 2020 04, 840 2020 04” 2020 04 470 December 31, 2022. In May 2020, not not January 1, 2021,

Note 2 - Revenue From Contracts

Note 2 - Revenue From Contracts With Customers	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenue Recognition Sales of oil, gas and NGL are recognized at the point in time when control of the product is transferred to the customer and collectability is reasonably assured. The Company’s contracts’ pricing provisions are tied to a market index, with certain adjustments based on, among other factors, physical location, quality of the oil or gas, and prevailing supply and demand conditions. As a result, the price of the oil, gas and NGL fluctuates to remain competitive with other available oil, gas and NGL supplies in the market. The Company believes that the pricing provisions of our oil, gas and NGL contracts are customary in the industry. Oil sales The Company’s oil sales contracts are generally structured such that it sells its oil production to a purchaser at a contractually specified delivery point at or near the wellhead. The crude oil production is priced on the delivery date based upon prevailing index prices less certain deductions related to oil quality, physical location and transportation costs incurred by the purchaser subsequent to delivery. The Company recognizes revenue when control transfers to the purchaser upon delivery at or near the wellhead at the net price received from the purchaser. Payment terms as customarily and normally paid on the twentieth Gas and NGL Sales Under the Company’s gas processing contracts, it delivers wet gas to a midstream processing entity at the wellhead or the inlet of the midstream processing entity’s system. There are no third In these scenarios, the Company evaluates whether it is the principal or the agent in the transaction. With respect to the Company’s gas purchase contracts, the Company has concluded that it is the agent, and thus, the midstream processing entity is its customer. Accordingly, the Company recognizes revenue upon delivery to the midstream processing entity based on the net amount of the proceeds received from the midstream processing entity. Imbalances The Company had no material gas imbalances at December 31, 2020 2021. Disaggregation of Revenue The Company is focused on the development of oil and natural gas properties primarily located in the following operating regions in the United States: (i) the Permian/Delaware Basin and (ii) Rocky Mountain. Revenue attributable to each of those regions is disaggregated in the table below. Years Ended December 31, 2020 2021 Oil Gas NGL Oil Gas NGL Operating Region Permian/Delaware Basin $ 22,891 $ 335 $ 163 $ 32,666 $ 4,474 $ 2,181 Rocky Mountain (1) $ 19,078 $ 251 $ 266 $ 28,562 $ 4,182 $ 6,771 ( 1 January 3, 2022. Significant Judgments Principal versus agent The Company engages in various types of transactions in which midstream entities process the Company's gas and subsequently market resulting NGL and residue gas to third Transaction price allocated to remaining performance obligations A significant number of the Company’s product sales are short-term in nature with a contract term of one 606 10 50 14 one For product sales that have a contract term greater than one 606 10 50 14 not not Contract balances Under the Company’s product sales contracts, the Company is entitled to payment from purchasers once its performance obligations have been satisfied upon delivery of the product, at which point payment is unconditional. The Company records invoiced amounts as “Accounts receivable - Oil and gas production sales” in the accompanying condensed consolidated balance sheet. To the extent actual volumes and prices of oil and natural gas are unavailable for a given reporting period because of timing or information not third not 2014 09. December 31, 2020 December 31, 2021 Prior-period performance obligations The Company records revenue in the month production is delivered to the purchaser. However, settlement statements for certain gas and NGL sales may not 30 60 not third The Company records the differences between its estimates and the actual amounts received for product sales in the month that payment is received from the purchaser. Any identified differences between its revenue estimates and actual revenue received historically have not December 31, 2021 not

Note 3 - Reverse Stock Split

Note 3 - Reverse Stock Split	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Reverse Stock Split [Text Block]	3. On October 19, 2020 1 September 29, 2020. no not September 30, 2020 December 31, 2019. Additionally on the effective date of the Reverse Stock Split, all options, warrants and other convertible securities of the Company outstanding immediately prior to the Reverse Stock Split were adjusted by dividing the number of shares of common stock into which the options, warrants and other convertible securities are exercisable or convertible by 20, 20,

Note 4 - Long-term Debt

Note 4 - Long-term Debt	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	4. The following sections regarding the First Lien Credit Facility and Second Lien Credit Facility are qualified in their entirety by the disclosure contained in Note 14. December 31, 2020 2021, January 3, 2022, 14 The following is a description of the Company’s debt as of December 31, 2020 2021 Years Ended December 31, 2020 2021 (In thousands) First Lien Credit Facility $ 95,000 $ 71,400 Second Lien Credit Facility 112,695 134,907 Exit fee - Second Lien Credit Facility 10,000 10,000 Real estate lien note 2,810 2,515 220,505 218,822 Less current maturities (202,751 ) (212,688 ) 17,754 6,134 Deferred financing fees and debt issuance cost - net (15,239 ) (3,929 ) Total long-term debt, net of deferred financing fees and debt issuance costs $ 2,515 $ 2,205 Maturities of long-term debt are as follows: Years ending December 31, (In thousands) 2022 $ 216,617 2023 2,205 2024 2025 - 2026 - Thereafter - Total $ 218,822 First Lien Credit Facility The Company had a senior secured First Lien Credit Facility with Société Générale, as administrative agent and issuing lender, and certain other lenders. As of December 31, 2021 Outstanding amounts under the First Lien Credit Facility accrued interest at a rate per annum equal to (a)(i) for borrowings that we elected to accrue interest at the reference rate at the greater of ( x one December 31, 2021, Subject to earlier termination rights and events of default, the stated maturity date of the First Lien Credit Facility was May 16, 2022. not Each of the Company’s subsidiaries guaranteed our obligations under the First Lien Credit Facility on a senior secured basis. Obligations under the First Lien Credit Facility were secured by a first December 30, 2020, 9 9 Under the amended First Lien Credit Facility, the Company was subject to customary covenants, including financial covenants and reporting covenants. The amendment to the First Lien Credit Facility dated June 25, 2020 ( “1L six no six first not 1.00 first 15 9 15 20% 1.00 December 31, 2020, 1.00 four four June 30, 2020 1, 2 3 June 30, 2020, September 30, 2020 December 31, 2020, 1 first 1.00, 2 first 3 4 no 5 60 90 may four four June 30, 2020, four September 30, 2020, four December 31, 2020, March 31, 2021 December 31, 2021 1L The First Lien Credit Facility contained a number of covenants that, among other things, restricted our ability to: • incur or guarantee additional indebtedness; • transfer or sell assets; • pay dividends or make other distributions on capital stock or make other restricted payments; • engage in transactions with affiliates other than on an “arm’s length” basis; • make any change in the principal nature of our business; and • permit a change in control The First Lien Credit Facility also contained customary events of default, including nonpayment of principal or interest, violations of covenants, cross default and cross acceleration to certain other indebtedness, bankruptcy and material judgments and liabilities. As of December 31, 2021, not In connection with the restructuring that was completed on January 3, 2022, 14 Second Lien Credit Facility On November 13, 2019, June 25, 2020. November 13, 2019, December 31, 2021, January 3, 2022, 14 The stated maturity date of the Second Lien Credit Facility was November 13, 2022. three Each of our subsidiaries had guaranteed our obligations under the Second Lien Credit Facility. Obligations under the Second Lien Credit Facility were secured by a first December 31, 2020, 9 9 Under the amended Second Lien Credit Facility, the Company was subject to customary covenants, including financial covenants and reporting covenants. The amendment to the Second Lien Credit Facility dated June 25, 2020 ( “2L 200bps 500bps 15 9 15 20% not 1.00 September 30, 2021 December 31, 2021, 1.00 first September 30, 2021; ( 60 90 four four June 30, 2020, four September 30, 2020, March 31, 2021 December 31, 2021 The Second Lien Credit Facility contained a number of covenants that, among other things, restricted our ability to: ● incur or guarantee additional indebtedness; ● transfer or sell assets; ● create liens on assets; ● pay dividends or make other distributions on capital stock or make other restricted payments; ● engage in transactions with affiliates other than on an “arm’s length” basis; ● make any change in the principal nature of our business; and ● permit a change of control The Second Lien Credit Facility also contained customary events of default, including nonpayment of principal or interest, violation of covenants, cross default and cross acceleration to certain other indebtedness, bankruptcy and material judgments and liabilities. Events of default occurred under the Second Lien Credit Facility as a result of (i) the Company’s failure to timely deliver audited financial statements without a “going concern” or like qualification for the fiscal year ended December 31, 2020, ( September 30, 2021, ( September 30, 2021, September 30, 2021, On April 16, 2021, The Notice of Default described certain events of default that occurred under the Second Lien Credit Facility as a result of (i) our failure to file timely our Form 10 December 31, 2020, ( December 31, 2020, The Notice of Default declared that our obligations under the Second Lien Credit Facility are immediately due and payable, in each case without presentment, demand, protest or other requirements of any kind, and began to bear interest at the rate applicable to such amount under the Second Lien Credit Facility, plus an additional 3%. Additionally, the administrative agent and the lenders reserved their right to exercise further rights, powers and remedies under the Second Lien Credit Facility, at any time or from time to time, with respect to any of the events of default described above. In connection with the amendment to the Second Lien Credit Facility on June 25, 2020, August 11, 2020 October 19, 2020, 1 may five 2L August 11, 2020, 2L ASC 470: November 22, 2021 no Real Estate Lien Note We have a real estate lien note secured by a first July 20, 2023. December 31, 2020 2021

Note 5 - Property and Equipment

Note 5 - Property and Equipment	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. The major components of property and equipment, at cost, are as follows: Estimated December 31, Useful life 2020 2021 Years (In thousands) Oil and gas properties (1) - $ 1,167,333 $ 1,165,707 Equipment and other 3-39 15,348 15,257 Drilling rig 15 24,108 24,080 1,206,789 1,205,044 Accumulated depreciation, depletion, amortization and impairment (1,083,843 ) (1,099,075 ) Net Property and Equipment $ 122,946 $ 105,969 ( 1

Note 6 - Stock-based Compensati

Note 6 - Stock-based Compensation and Option Plans	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	6. The Company’s Amended and Restated 2005 may not may 1 one 2 3 4 Stock Options The Company grants options to its officers, directors, and other employees under various stock option and incentive plans. There were no options granted in 2020 2021 The following table is a summary of the Company’s stock option activity for the three December 31: Options Weighted average Weighted average Intrinsic value (000s) exercise price remaining life per share Options outstanding December 31, 2019 297 $ 49.41 Forfeited/Expired (101 ) 48.96 Options outstanding December 31, 2020 196 $ 49.69 Forfeited/Expired (141 ) 48.11 Options outstanding December 31, 2021 55 53.79 3.3 $ 0.00 Exercisable at end of year 55 53.79 3.3 $ 0.00 Other information pertaining to the Company’s stock option activity for the three December 31: 2020 2021 Weighted average grant date fair value of stock options granted (per share) $ - $ - Total fair value of options vested (000's) $ 275 $ - Total intrinsic value of options exercised (000's) $ - $ - As of December 31, 2021 December 31, 2020 2021. The following table represents the range of stock option prices and the weighted average remaining life of outstanding options as of December 31, 2021 Outstanding Options Exercisable Weighted Weighted Weighted Weighted average average average average Number remaining exercise Number remaining exercise Range of stock option prices Outstanding life price Outstanding life price 19.40-29.99 12,700 2.9 $ 22.61 12,700 2.9 $ 22.61 30.00-39.99 5,350 5.4 $ 37.47 5,350 5.4 $ 37.47 40.00-49.99 6,228 1.4 $ 47.79 6,228 1.4 $ 47.79 50.00-59.99 8,900 4.2 $ 57.16 8,900 4.2 $ 57.16 60.00-69.99 7,594 2.2 $ 63.24 7,594 2.2 $ 63.24 70.00-79.99 6,500 2.6 $ 73.57 6,500 2.6 $ 73.57 80.00-89.99 1,500 5.5 $ 86.40 1,500 5.5 $ 86.40 90.00-99.99 3,000 5.9 $ 90.10 3,000 5.9 $ 890.10 100.00-125.60 2,450 2.3 $ 107.97 2,450 2.3 $ 107.67 54,222 3.3 $ 53.79 54,222 3.3 $ 53.79 Restricted Stock Awards Restricted stock awards are awards of common stock that are subject to restrictions on transfer and to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such stock is determined using the market price on the grant date. Compensation expense is recorded over the applicable restricted stock vesting periods. As of December 31, 2021 not first 2022. December 31, 2020 2021 The following table is a summary of the Company’s restricted stock activity for the three December 31, 2021 Number of Shares Weighted average grant date fair value Unvested December 31, 2019 89 $ 31.67 Granted - - Vested/Released (33 ) 32.11 Forfeited/Expired (15 ) 31.52 Unvested December 31, 2020 41 $ 31.37 Granted - - Vested/Released (24 ) 33.23 Forfeited/Expired (3 ) 32.07 Unvested December 31, 2021 14 $ 27.97 Performance Based Restricted Stock Awards Effective on April 1, 2018, 2005 three three 2020 2021 not The table below provides a summary of Performance Based Restricted Stock as of the date indicated (shares in thousands): Number of Shares Weighted average grant date fair value Unvested December 31, 2019 57 33.86 Granted - - Vested/Released - - Forfeited (13 ) 34.29 Unvested December 31, 2020 44 $ 33.73 Granted - - Vested/Released - - Forfeited (16 ) 45.73 Unvested December 31, 2021 28 $ 26.80 Compensation expense associated with the performance based restricted stock is based on the grant date fair value of a single share as determined using a Monte Carlo Simulation model which utilizes a stochastic process to create a range of potential future outcomes given a variety of inputs. As the Compensation Committee intends to settle the performance based restricted stock awards with shares of the Company’s common stock, the awards are accounted for as equity awards and the expense is calculated on the grant date assuming a 100% target payout and amortized over the life of the awards. As of December 31, 2021 not first 2022. December 31, 2020 2021, Director Stock Awards The 2005 2005 first not 2020. The maximum annual award for any one no At December 31, 2021

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax liabilities and assets are as follows: As of December 31, 2020 2021 (In thousands) Deferred tax liabilities: Hedge contracts $ 4,299 $ - Other 2,137 2,855 Total deferred tax liabilities 6,436 2,855 Deferred tax assets: US full cost pool $ 35,500 24,464 Depletion carryforward 461 470 U.S. net operating loss carryforward 84,927 96,120 Alternative minimum tax credit - - Hedge contracts - 100 Interest disallowed 2,818 5,781 Total deferred tax assets 123,706 126,935 Valuation allowance for deferred tax assets (117,270 ) (124,080 ) Net deferred tax assets 6,436 2,855 Net deferred tax $ - $ - Significant components of the provision (benefit) for income taxes are as follows: Years Ended December 31, 2020 2021 (In thousands) Current: Federal $ - $ - State - - $ - $ - Deferred: Federal $ - $ - $ - $ - At December 31, 2021 2018 2017 2018 2022 2037, not 100% 2018, 2019 2020 five 100% January 1, 2021 80% December 31, 2020. January 1, 2021, 80% no January 1, 2018). The use of our NOLs will be limited if there is an “ownership change” in our common stock, generally a cumulative ownership change exceeding 50% three 382 December 31, 2021 not 382. December 31, 2020 December 31, 2021 The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax expense is: Years Ended December 31, 2020 2021 (in thousands) Tax benefit at U.S. Statutory rates $ 38,749 $ 9,359 Change in deferred tax asset valuation allowance (37,193 ) (7,007 ) Alternative minimum tax expense - - Adjustment to deferred tax assets - (3,421 ) Permanent differences (276 ) 368 Return to provision estimated revision (3,069 ) - State income taxes, net of federal effect 1,789 688 Other - 13 $ - $ - As of December 31, 2020 2021 not 2014 2021 New tax legislation, commonly referred to as the Tax Cuts and Jobs Act (H.R. 1 December 22, 2017. not may 30% 2019 2020, 50% 2017 80% 2017, 100% not may

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. Litigation and Contingencies From time to time, the Company is involved in litigation relating to claims arising out of its operations in the normal course of business. At December 31, 2021 not

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	9. The following table sets forth the computation of basic and diluted earnings per share: Years Ended December 31, 2020 2021 Numerator: Net loss $ (184,522 ) $ (44,567 ) Denominator for basic earnings per share - weighted-average common shares outstanding 8,382 8,408 Effect of dilutive securities: Stock options, restricted shares and performance based shares - - Denominator for diluted earnings per share - adjusted weighted-average shares and assumed exercise of options, restricted shares and performance based shares 8,382 8,408 Net loss per common share - basic $ (22.01 ) $ (5.30 ) Net loss per common share - diluted $ (22.01 ) $ (5.30 ) Basic earnings per share, excluding any dilutive effects of stock options and unvested restricted stock, is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted income (loss) per share is computed similar to basic; however diluted income (loss) per share reflects the assumed conversion of all potentially dilutive securities.

Note 10 - Benefit Plans

Note 10 - Benefit Plans	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	10. The Company has a defined contribution plan ( 401 2020 2021 2022 2021. first may 2020 2021 50 50

Note 11 - Hedging Program and D

Note 11 - Hedging Program and Derivatives	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	11. Hedging Program and Derivatives As of December 31, 2021 not December 31, 2021 December 2021 The following table illustrates the impact of derivative contracts on the Company’s balance sheet: Fair Value Derivative Contracts as of December 31, 2020 Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity price derivatives Derivatives - current $ 9,639 Derivatives - current $ 480 Commodity price derivatives Derivatives - long-term 10,281 Derivatives - long-term - $ 19,920 $ 480 Fair Value Derivative Contracts as of December 31, 2021 Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity price derivatives Derivatives - current $ - Derivatives - current $ 442 $ - $ 442 Gains and losses from derivative activities are reflected as “Loss (gain) on derivative contracts” in the accompanying Consolidated Statements of Operations. The net estimated value of our commodity derivative contracts was a liability of approximately $0.4 million as of December 31, 2021 December 31, 2021 $7.1 December 31, 2020

Note 12 - Financial Instruments

Note 12 - Financial Instruments	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	12. There is a three one three three • Level 1 • Level 2 • Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company is further required to assess the creditworthiness of the counter-party to the derivative contract. The results of the assessment of non-performance risk, based on the counter-party’s credit risk, could result in an adjustment of the carrying value of the derivative instrument. The following tables sets forth information about the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of December 31, 2020 Assets: NYMEX fixed price derivative contracts $ - $ 19,920 $ - $ 19,920 Total Assets $ - $ 19,920 $ - $ 19,920 Liabilities: NYMEX fixed price derivative contracts $ - $ 480 $ - $ 480 Total Liabilities $ - $ 480 $ - $ 480 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of December 31, 2021 Assets: NYMEX fixed price derivative contracts $ - $ - $ - $ - Total Assets $ - $ - $ - $ - Liabilities: NYMEX fixed price derivative contracts $ - $ 442 $ - $ 442 Total Liabilities $ - $ 442 $ - $ 442 The Company’s derivative contracts during the years ended December 31, 2021 December 31, 2020 2. Nonrecurring Fair Value Measurements Non-financial assets and liabilities measured at fair value on a nonrecurring basis included certain non-financial assets and liabilities as may The asset retirement obligation estimates are derived from historical costs as well as management’s expectation of future cost environments. As there is no 3. 1. Other Financial Instruments The carrying amounts of our cash, cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value because of the short-term maturities and/or liquid nature of these assets and liabilities. The carrying value of our debt approximates fair value as the interest rates are market rates and this debt is considered Level 2.

Note 13 - Lease Accounting Stan

Note 13 - Lease Accounting Standard	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	13. Nature of Leases We lease certain real estate, field equipment and other equipment under cancelable and non-cancelable leases to support our operations. A more detailed description of our significant lease types is included below. Real Estate Leases We rented a residence in North Dakota from a third five August 31, 2024. not third January 3, 2022. 14 Field Equipment We rent compressors and coolers from third one thirty not twelve not third thirty not Discount Rate Our leases typically do not Practical Expedients and Accounting Policy Elections Certain of our lease agreements include lease and non-lease components. For all existing asset classes with multiple component types, we have utilized the practical expedient that exempts us from separating lease components from non-lease components. Accordingly, we account for the lease and non-lease components in an arrangement as a single lease component. In addition, for all of our existing asset classes, we have made an accounting policy election not 12 not not None The components of our total lease expense for the years ended December 31, 2020 December 31, 2021 For the Year Ended December 31, 2020 2021 (in thousands) Operating lease cost $ 114 $ 65 Short-term lease expense (1) 2,183 1,913 Total lease expense $ 2,297 $ 1,978 Short-term lease costs (2) $ 973 $ - ( 1 Short-term lease expense represents expense related to leases with a contract term of 12 ( 2 These short-term lease costs are related to leases with a contract term of 12 Supplemental balance sheet information related to our operating leases is included in the table below: For the Year Ended December 31, 2020 2021 (in thousands) Operating lease Right of Use asset $ 228 $ 173 Operating lease liability - current $ 53 $ 40 Operating lease liabilities - long-term $ 150 $ 110 Our weighted average remaining lease term and weighted average discount rate for our operating leases are as follows: For the Year Ended December 31, 2020 2021 (in thousands) Weighted Average Remaining Lease Term (in years) 10.68 12.46 Weighted Average Discount Rate 6 % 6 % Our lease liabilities with enforceable contract terms that are greater than one Operating Leases (in thousands) 2022 40 2023 41 2024 28 2025 4 2026 4 Thereafter 94 Total lease payments 211 Less imputed interest (61 ) Total lease liability $ 150 Supplemental cash flow information related to our operating leases is included in the table below: For the Year Ended December 31, 2020 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 114 $ 65 Right of Use assets added in exchange for lease obligations (since adoption) $ 125 $ -

Note 14 - Subsequent Events

Note 14 - Subsequent Events	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	14. Restructuring Pursuant to the Exchange Agreement, dated as of January 3, 2022, January 3, 2022, $73.3 AGEF was issued 685,505 shares of Series A Preferred Stock of the Company in the Exchange. The Series A Preferred Stock has the terms set forth in the Company’s filed Preferred Stock Certificate of Designation (the “Certificate). Pursuant to the Certificate, any proceeds distributed to the Company’s stockholders or otherwise received in respect of the capital stock of the Company in a merger or other liquidity event will be allocated among the Series A Preferred Stock and the Company’s common stock as follows: ( 1 2 3 1.5 x Todd Dittmann, Damon Putman and Daniel Baddeloo, each of whom are employees of AGEF, were appointed to Abraxas’ Board of Directors. Change In Majority of Board of Directors Todd Dittmann, Damon Putman and Daniel Baddeloo, each of whom are employees of AGEF were appointed as members of the Board of Directors in January 2022.

Note 15 - Events of Default

Note 15 - Events of Default	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	15. In connection with the completion of our financial statements for the year ended December 31, 2020, December 31, 2020 not first December 31, 2020. September 30, 2021, January 3, 2022, 14 First Lien Credit Facility Events of default have occurred under the First Lien Credit Facility as a result of (i) the Company’s failure to timely deliver audited financial statements without a “going concern” or like qualification for the fiscal year ended December 31, 2020, ( first December 31, 2020, ( may January 3, 2022, 14 Second Lien Credit Facility Events of default occurred under the Second Lien Credit Facility as a result of (i) the Company’s failure to timely deliver audited financial statements without a “going concern” or like qualification for the fiscal year ended December 31, 2020, ( September 30, 2021, ( September 30, 2021, may September 30, 2021, On April 16, 2021, The Notice of Default declared that our obligations under the Second Lien Credit Facility were immediately due and payable, in each case without presentment, demand, protest or other requirements of any kind, and we began to bear interest at the rate applicable to such amount under the Second Lien Credit Facility, plus an additional 3%. Additionally, the administrative agent and the lenders reserved their right to exercise further rights, powers and remedies under the Second Lien Credit Facility, at any time or from time to time, with respect to any of the events of default described above. In connection with the restructuring that was completed on January 3, 2022, 14 Hedging Contracts Effective April 12, 2021, December 31, 2021,

Note 16 - Supplemental Oil and

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited)	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Oil and Gas Exploration and Production Industries Disclosures [Text Block]	16. The accompanying tables present information concerning the Company’s oil and gas producing activities “Disclosures about Oil and Gas Producing Activities.” Capitalized costs relating to oil and gas producing activities are as follows as of December 31, 2020 2021: Years Ended December 31, (in thousands) 2020 2021 Proved oil and gas properties $ 1,167,333 $ 1,165,707 Unproved properties - - Total 1,167,333 1,165,707 Accumulated depreciation, depletion, amortization and impairment (1,060,649 ) (1,074,144 ) Net capitalized costs $ 106,684 $ 91,563 Cost incurred in oil and gas property acquisition and development activities were as follows for the years ended December 31, 2020 2021 2020 2021 Development costs $ 5,238 $ 1,145 Exploration costs - - Property acquisition costs - - $ 5,238 $ 1,145 Results of operations from oil and gas producing activities were as follows for the years ended December 31, 2020 2021: 2020 2021 Revenues $ 42,984 $ 78,836 Production costs (21,090 ) (24,137 ) Depreciation, depletion and amortization (22,679 ) (13,495 ) Accretion of future site restoration (414 ) (330 ) Proved property impairment (186,980 ) - Results of operations from oil and gas producing activities (excluding corporate overhead and interest costs) $ (188,179 ) $ 40,874 Depletion rate per barrel of oil equivalent $ 12.58 $ 6.67 Estimated Quantities of Proved Oil and Gas Reserves Reserve estimates are inherently imprecise and estimates of new discoveries are more imprecise than those of producing oil and gas properties. Accordingly, the estimates are expected to change as future information becomes available. The estimates have been predominately prepared by independent petroleum reserve engineers. Proved oil and gas reserves are the estimated quantities of oil and gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed oil and gas reserves are those expected to be recovered through existing wells with existing equipment and operating methods. All of the Company’s proved reserves are located in the continental United States. Proved reserves were estimated in accordance with guidelines established by the SEC and the FASB, which require that reserve estimates be prepared under existing economic and operating conditions with no 12 first The following table presents the Company’s estimate of its net proved developed and undeveloped oil and gas reserves as of December 31, 2020 2021 Total Oil Oil NGL Gas Equivalents (MBbl) (MBbl) (MMcf) (Mboe) Proved Developed Reserves: December 31, 2020 9,538 3,187 24,318 16,778 December 31, 2021 6,883 2,914 30,158 14,823 Proved Undeveloped Reserves: December 31, 2020 - - - - December 31, 2021 - - - - Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves The Company’s proved oil and gas reserves have been estimated by the independent petroleum engineering firm, DeGolyer & MacNaughton, assisted by the engineering and operations departments of the Company as of December 31, 2020 December 31, 2021 12 first No. 2010 03, 932 not 2020 2021 The technical personnel responsible for preparing the reserve estimates at DeGolyer & MacNaughton meet the requirements regarding qualifications, independence, objectivity, and confidentiality set forth in the Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information promulgated by the Society of Petroleum Engineers. DeGolyer & MacNaughton is an independent firm of petroleum engineers, geologists, geophysicists, and petrophysicists; they do not not February 4, 2022, 99.1 Estimates of proved reserves at December 31, 2020 2021 42 The projections should not not Future net cash inflows after income taxes were discounted using a 10% December 31, 2020 2021 Years Ended December 31, (in thousands) 2020 2021 Future cash inflows $ 345,869 $ 485,982 Future production costs (166,781 ) (222,309 ) Future development costs (6,291 ) (5,623 ) Future income tax expense - - Future net cash flows 172,797 258,050 Discount $ (66,113 ) $ (104,775 ) Standardized Measure of discounted future net cash relating to proved reserves $ 106,684 $ 153,275

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Nature of Operations We are an independent energy company primarily engaged in the acquisition, exploitation, development and production of oil and gas in the United States. Our oil and gas assets are located primarily in two The terms “Abraxas,” “Abraxas Petroleum,” “we,” “us,” “our” or the “Company” refer to Abraxas Petroleum Corporation and all of its subsidiaries, including Raven Drilling LLC (“Raven Drilling”).
Rig Accounting [Policy Text Block]	Rig Accounting In accordance with SEC Regulation S- X, no not 2020 2021
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The consolidated financial statements of the Company have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates pertain to proved oil, gas and NGL reserves and related cash flow estimates used in impairment tests of oil and gas properties, the fair value of assets and liabilities acquired in business combinations, derivative contracts, the provision for income taxes including uncertain tax positions, stock based compensation, asset retirement obligations, accrued oil and gas revenues and expenses, as well as estimates of expenses related to depreciation, depletion, amortization and accretion. Actual results could differ from those estimates. The process of estimating oil and gas reserves in accordance with SEC requirements is complex and involves decisions and assumptions in evaluating the available geological, geophysical, engineering and economic data. Accordingly, these estimates are imprecise. Actual future production, oil and gas prices, differentials, revenues, taxes, capital expenditures, operating expenses and quantities of recoverable oil and gas reserves most likely will vary from those estimated. Any significant variance could materially affect the estimated quantities and present value of our reserves. In addition, we may
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications Certain reclassifications have been made to the prior year financial statements to conform to the current period presentation. These reclassifications were to share and per share data related to the 1 October 19, 2020 no
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Financial instruments which potentially expose the Company to credit risk consist principally of trade receivables and derivative contracts. Accounts receivable are generally from companies with significant oil and gas marketing or operating activities. The Company performs ongoing credit evaluations and, generally, requires no The Company maintains any cash and cash equivalents in excess of federally insured limits in prominent financial institutions considered by the Company to be of high credit quality.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and short-term investments with original maturities of three
Accounts Receivable [Policy Text Block]	Accounts Receivable Accounts receivable are reported net of an allowance for doubtful accounts of approximately $0.1 million at December 31, 2020 2021
Segment Reporting, Policy [Policy Text Block]	Industry Segment and Geographic Information The Company operates in one industry segment, which is the exploration, development and production of oil and gas with all of the Company’s operational activities being conducted in the U.S. The Company’s current operational activities and the Company’s consolidated revenues are generated from markets exclusively in the U.S., and the Company has no long lived assets located outside the U.S.
Full Cost Method Using Gross Revenue Method, Policy [Policy Text Block]	Oil and Gas Properties The Company follows the full cost method of accounting for oil and gas properties. Under this method, certain direct costs and indirect costs associated with acquisition of properties and successful as well as unsuccessful exploration and development activities are capitalized. Depreciation, depletion, and amortization of capitalized oil and gas properties and estimated future development costs, excluding unproved properties, are based on the unit-of-production method based on proved reserves. Net capitalized costs of oil and gas properties, less related deferred taxes, are limited by country, to the lower of unamortized cost or the cost ceiling, defined as the sum of the present value of estimated future net revenues from proved reserves based on unescalated prices discounted at 10%, plus the cost of properties not No not December 31, 2020 December 31, 2021, not
Property, Plant and Equipment, Policy [Policy Text Block]	Other Property and Equipment Other property and equipment are recorded at cost. Depreciation of other property and equipment is provided over the estimated useful lives using the straight-line method. Major renewals and improvements are recorded as additions to the property and equipment accounts. Repairs that do not
Estimate of Proved Oil and Gas Reserves Policy [Policy Text Block]	Estimates of Proved Oil and Gas Reserves Estimates of our proved reserves included in this report are prepared in accordance with GAAP and SEC guidelines. The accuracy of a reserve estimate is a function of: • the quality and quantity of available data; • the interpretation of that data; • the accuracy of various mandated economic assumptions; and • the judgment of the persons preparing the estimate. Our proved reserve information included in this report was based on studies performed by our independent petroleum engineers assisted by the engineering and operations departments of Abraxas. Estimates prepared by other third may may may In accordance with SEC requirements, we based the estimated discounted future net cash flows from proved reserves on the average of oil and gas prices based on the unweighted average 12 first may The estimates of proved reserves materially impact depreciation, depletion and amortization, or DD&A expense. If the estimates of proved reserves decline, the rate at which we record DD&A expense will increase, reducing future net income. Such a decline may may
Derivatives, Policy [Policy Text Block]	Derivative Instruments and Hedging Activities The Company enters into agreements to hedge the risk of future oil and gas price fluctuations. Such agreements are typically in the form of fixed price commodity and basis swaps, which limit the impact of price fluctuations with respect to the Company’s sale of oil and gas. While it is never management’s intention to hold or issue derivative instruments for speculative trading purposes, conditions could arise where actual production is less than estimated which could result in over hedged volumes. All derivative instruments are recorded on the Consolidated Balance Sheets at fair value as either short-term or long-term assets or liabilities based on their anticipated settlement date. The derivative instruments the Company utilizes are based on index prices that may 815. not
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The Company includes fair value information in the notes to consolidated financial statements when the fair value of its financial instruments is materially different from the carrying value. The carrying value of those financial instruments that are classified as current, except for derivative instruments, approximates fair value because of the short maturity of these instruments. For noncurrent financial instruments, the Company uses quoted market prices or, to the extent that there are no
Share-based Payment Arrangement [Policy Text Block]	Share-Based Payments Options granted are valued at the date of grant and expense is recognized over the vesting period. The Company currently utilizes a standard option pricing model (Black-Scholes) to measure the fair value of stock options granted to employees and directors. Restricted stock awards are awards of common stock that are subject to restrictions on transfer and to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such restricted stock is determined using the market price on the grant date and expense is recorded over the vesting period. For the years ended December 31, 2020 2021
Asset Retirement Obligation and Environmental Cost [Policy Text Block]	Restoration, Removal and Environmental Liabilities The Company is subject to extensive federal, state and local environmental laws and regulations. These laws regulate the discharge of materials into the environment and may no Liabilities for expenditures of a noncapital nature are recorded when environmental assessments and/or remediation is probable, and the costs can be reasonably estimated. Such liabilities are generally undiscounted unless the timing of cash payments for the liability or component are fixed or reliably determinable. The fair value of a liability for an asset’s retirement obligation is recorded in the period in which it is incurred and the corresponding cost capitalized by increasing the carrying amount of the related long-lived asset. The liability is accreted to its then present value each period and the capitalized cost is depreciated over the estimated useful life of the related asset. For all periods presented, we have included estimated future costs of abandonment and dismantlement in our full cost amortization base and we amortize these costs as a component of our depletion expense in the accompanying consolidated financial statements. Each year, the Company reviews, and to the extent necessary, revises its asset retirement obligation estimates. The following table (in thousands) summarizes changes in the Company’s future site restoration obligations during the two December 31: 2020 2021 Beginning future site restoration obligation $ 7,420 $ 7,360 New wells placed on production and other 43 1 Deletions related to property disposals (216 ) (2,845 ) Deletions related to plugging costs (235 ) (342 ) Accretion expense and other 414 330 Revisions and other (66 ) 204 Ending future site restoration obligation $ 7,360 $ 4,708
Revenue [Policy Text Block]	Revenue Recognition and Major Purchasers The Company recognizes oil and gas revenue from its interest in producing wells as oil and gas is sold from those wells, net of royalties, control of the product has transferred to the purchaser and collectability is reasonably assured. During 2020 2021
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Fees Deferred financing fees are being amortized on the effective yield basis over the term of the related debt.
Income Tax, Policy [Policy Text Block]	Income Taxes Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to be in effect with respect to taxable income in the years in which those temporary differences are expected to be recovered or settled. Uncertainties exist as to the future utilization of the operating loss carryforwards. Therefore, we have established a valuation allowance of $124.08 million for deferred tax assets at December 31, 2021
Income Tax Uncertainties, Policy [Policy Text Block]	Accounting for Uncertainty in Income Taxes Evaluation of a tax position is a two first not second not 50% Tax positions that previously failed to meet the more-likely-than- not first no not first no December 31, 2021
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of New Accounting Standards In March 2020, No. 2020 04, 840 2020 04” 2020 04 470 December 31, 2022. In May 2020, not not January 1, 2021,

Note 1 - Organization and Sig_2

Note 1 - Organization and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Change in Asset Retirement Obligation [Table Text Block]	2020 2021 Beginning future site restoration obligation $ 7,420 $ 7,360 New wells placed on production and other 43 1 Deletions related to property disposals (216 ) (2,845 ) Deletions related to plugging costs (235 ) (342 ) Accretion expense and other 414 330 Revisions and other (66 ) 204 Ending future site restoration obligation $ 7,360 $ 4,708

Note 2 - Revenue From Contrac_2

Note 2 - Revenue From Contracts With Customers (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Years Ended December 31, 2020 2021 Oil Gas NGL Oil Gas NGL Operating Region Permian/Delaware Basin $ 22,891 $ 335 $ 163 $ 32,666 $ 4,474 $ 2,181 Rocky Mountain (1) $ 19,078 $ 251 $ 266 $ 28,562 $ 4,182 $ 6,771

Note 4 - Long-term Debt (Tables

Note 4 - Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Years Ended December 31, 2020 2021 (In thousands) First Lien Credit Facility $ 95,000 $ 71,400 Second Lien Credit Facility 112,695 134,907 Exit fee - Second Lien Credit Facility 10,000 10,000 Real estate lien note 2,810 2,515 220,505 218,822 Less current maturities (202,751 ) (212,688 ) 17,754 6,134 Deferred financing fees and debt issuance cost - net (15,239 ) (3,929 ) Total long-term debt, net of deferred financing fees and debt issuance costs $ 2,515 $ 2,205
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Years ending December 31, (In thousands) 2022 $ 216,617 2023 2,205 2024 2025 - 2026 - Thereafter - Total $ 218,822

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	Estimated December 31, Useful life 2020 2021 Years (In thousands) Oil and gas properties (1) - $ 1,167,333 $ 1,165,707 Equipment and other 3-39 15,348 15,257 Drilling rig 15 24,108 24,080 1,206,789 1,205,044 Accumulated depreciation, depletion, amortization and impairment (1,083,843 ) (1,099,075 ) Net Property and Equipment $ 122,946 $ 105,969

Note 6 - Stock-based Compensa_2

Note 6 - Stock-based Compensation and Option Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Options Weighted average Weighted average Intrinsic value (000s) exercise price remaining life per share Options outstanding December 31, 2019 297 $ 49.41 Forfeited/Expired (101 ) 48.96 Options outstanding December 31, 2020 196 $ 49.69 Forfeited/Expired (141 ) 48.11 Options outstanding December 31, 2021 55 53.79 3.3 $ 0.00 Exercisable at end of year 55 53.79 3.3 $ 0.00 2020 2021 Weighted average grant date fair value of stock options granted (per share) $ - $ - Total fair value of options vested (000's) $ 275 $ - Total intrinsic value of options exercised (000's) $ - $ -
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Outstanding Options Exercisable Weighted Weighted Weighted Weighted average average average average Number remaining exercise Number remaining exercise Range of stock option prices Outstanding life price Outstanding life price 19.40-29.99 12,700 2.9 $ 22.61 12,700 2.9 $ 22.61 30.00-39.99 5,350 5.4 $ 37.47 5,350 5.4 $ 37.47 40.00-49.99 6,228 1.4 $ 47.79 6,228 1.4 $ 47.79 50.00-59.99 8,900 4.2 $ 57.16 8,900 4.2 $ 57.16 60.00-69.99 7,594 2.2 $ 63.24 7,594 2.2 $ 63.24 70.00-79.99 6,500 2.6 $ 73.57 6,500 2.6 $ 73.57 80.00-89.99 1,500 5.5 $ 86.40 1,500 5.5 $ 86.40 90.00-99.99 3,000 5.9 $ 90.10 3,000 5.9 $ 890.10 100.00-125.60 2,450 2.3 $ 107.97 2,450 2.3 $ 107.67 54,222 3.3 $ 53.79 54,222 3.3 $ 53.79
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Shares Weighted average grant date fair value Unvested December 31, 2019 89 $ 31.67 Granted - - Vested/Released (33 ) 32.11 Forfeited/Expired (15 ) 31.52 Unvested December 31, 2020 41 $ 31.37 Granted - - Vested/Released (24 ) 33.23 Forfeited/Expired (3 ) 32.07 Unvested December 31, 2021 14 $ 27.97
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	Number of Shares Weighted average grant date fair value Unvested December 31, 2019 57 33.86 Granted - - Vested/Released - - Forfeited (13 ) 34.29 Unvested December 31, 2020 44 $ 33.73 Granted - - Vested/Released - - Forfeited (16 ) 45.73 Unvested December 31, 2021 28 $ 26.80

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	As of December 31, 2020 2021 (In thousands) Deferred tax liabilities: Hedge contracts $ 4,299 $ - Other 2,137 2,855 Total deferred tax liabilities 6,436 2,855 Deferred tax assets: US full cost pool $ 35,500 24,464 Depletion carryforward 461 470 U.S. net operating loss carryforward 84,927 96,120 Alternative minimum tax credit - - Hedge contracts - 100 Interest disallowed 2,818 5,781 Total deferred tax assets 123,706 126,935 Valuation allowance for deferred tax assets (117,270 ) (124,080 ) Net deferred tax assets 6,436 2,855 Net deferred tax $ - $ -
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years Ended December 31, 2020 2021 (In thousands) Current: Federal $ - $ - State - - $ - $ - Deferred: Federal $ - $ - $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended December 31, 2020 2021 (in thousands) Tax benefit at U.S. Statutory rates $ 38,749 $ 9,359 Change in deferred tax asset valuation allowance (37,193 ) (7,007 ) Alternative minimum tax expense - - Adjustment to deferred tax assets - (3,421 ) Permanent differences (276 ) 368 Return to provision estimated revision (3,069 ) - State income taxes, net of federal effect 1,789 688 Other - 13 $ - $ -

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years Ended December 31, 2020 2021 Numerator: Net loss $ (184,522 ) $ (44,567 ) Denominator for basic earnings per share - weighted-average common shares outstanding 8,382 8,408 Effect of dilutive securities: Stock options, restricted shares and performance based shares - - Denominator for diluted earnings per share - adjusted weighted-average shares and assumed exercise of options, restricted shares and performance based shares 8,382 8,408 Net loss per common share - basic $ (22.01 ) $ (5.30 ) Net loss per common share - diluted $ (22.01 ) $ (5.30 )

Note 11 - Hedging Program and_2

Note 11 - Hedging Program and Derivatives (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Fair Value Derivative Contracts as of December 31, 2020 Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity price derivatives Derivatives - current $ 9,639 Derivatives - current $ 480 Commodity price derivatives Derivatives - long-term 10,281 Derivatives - long-term - $ 19,920 $ 480 Fair Value Derivative Contracts as of December 31, 2021 Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity price derivatives Derivatives - current $ - Derivatives - current $ 442 $ - $ 442

Note 12 - Financial Instrumen_2

Note 12 - Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of December 31, 2020 Assets: NYMEX fixed price derivative contracts $ - $ 19,920 $ - $ 19,920 Total Assets $ - $ 19,920 $ - $ 19,920 Liabilities: NYMEX fixed price derivative contracts $ - $ 480 $ - $ 480 Total Liabilities $ - $ 480 $ - $ 480 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of December 31, 2021 Assets: NYMEX fixed price derivative contracts $ - $ - $ - $ - Total Assets $ - $ - $ - $ - Liabilities: NYMEX fixed price derivative contracts $ - $ 442 $ - $ 442 Total Liabilities $ - $ 442 $ - $ 442

Note 13 - Lease Accounting St_2

Note 13 - Lease Accounting Standard (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Lease, Cost [Table Text Block]	For the Year Ended December 31, 2020 2021 (in thousands) Operating lease cost $ 114 $ 65 Short-term lease expense (1) 2,183 1,913 Total lease expense $ 2,297 $ 1,978 Short-term lease costs (2) $ 973 $ - For the Year Ended December 31, 2020 2021 (in thousands) Weighted Average Remaining Lease Term (in years) 10.68 12.46 Weighted Average Discount Rate 6 % 6 % For the Year Ended December 31, 2020 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 114 $ 65 Right of Use assets added in exchange for lease obligations (since adoption) $ 125 $ -
Schedule of Operating Leased Assets [Table Text Block]	For the Year Ended December 31, 2020 2021 (in thousands) Operating lease Right of Use asset $ 228 $ 173 Operating lease liability - current $ 53 $ 40 Operating lease liabilities - long-term $ 150 $ 110
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Operating Leases (in thousands) 2022 40 2023 41 2024 28 2025 4 2026 4 Thereafter 94 Total lease payments 211 Less imputed interest (61 ) Total lease liability $ 150

Note 16 - Supplemental Oil an_2

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]	Years Ended December 31, (in thousands) 2020 2021 Proved oil and gas properties $ 1,167,333 $ 1,165,707 Unproved properties - - Total 1,167,333 1,165,707 Accumulated depreciation, depletion, amortization and impairment (1,060,649 ) (1,074,144 ) Net capitalized costs $ 106,684 $ 91,563
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]	2020 2021 Development costs $ 5,238 $ 1,145 Exploration costs - - Property acquisition costs - - $ 5,238 $ 1,145
Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block]	2020 2021 Revenues $ 42,984 $ 78,836 Production costs (21,090 ) (24,137 ) Depreciation, depletion and amortization (22,679 ) (13,495 ) Accretion of future site restoration (414 ) (330 ) Proved property impairment (186,980 ) - Results of operations from oil and gas producing activities (excluding corporate overhead and interest costs) $ (188,179 ) $ 40,874 Depletion rate per barrel of oil equivalent $ 12.58 $ 6.67
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block]	Total Oil Oil NGL Gas Equivalents (MBbl) (MBbl) (MMcf) (Mboe) Proved Developed Reserves: December 31, 2020 9,538 3,187 24,318 16,778 December 31, 2021 6,883 2,914 30,158 14,823 Proved Undeveloped Reserves: December 31, 2020 - - - - December 31, 2021 - - - -
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block]	Years Ended December 31, (in thousands) 2020 2021 Future cash inflows $ 345,869 $ 485,982 Future production costs (166,781 ) (222,309 ) Future development costs (6,291 ) (5,623 ) Future income tax expense - - Future net cash flows 172,797 258,050 Discount $ (66,113 ) $ (104,775 ) Standardized Measure of discounted future net cash relating to proved reserves $ 106,684 $ 153,275

Note 1 - Organization and Sig_3

Note 1 - Organization and Significant Accounting Policies (Details Textual) $ in Thousands	Oct. 19, 2020	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss, Ending Balance		$ 100	$ 100	$ 100
Number of Operating Segments		1
Discount Rate Used in Future Net Cash Flows Relating to Proved Oil and Gas Reserves				10.00%
Impairment of Oil and Gas Properties		$ 0	186,980
Share-based Payment Arrangement, Noncash Expense, Total		946	1,312
Deferred Tax Assets, Valuation Allowance, Total		124,080	$ 117,270	$ 124,080
Unrecognized Tax Benefits, Ending Balance		$ 0		0
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Entity Wide Revenue Number of Major Purchasers of Oil and Gas		4	4
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Four Purchasers [Member]
Concentration Risk, Percentage		83.00%	73.00%
Non-US [Member]
Long-Lived Assets		$ 0		$ 0
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20

Note 1 - Organization and Sig_4

Note 1 - Organization and Significant Accounting Polcies - Future Site Restoration Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Beginning future site restoration obligation	$ 7,360	$ 7,420
New wells placed on production and other	1	43
Deletions related to property disposals	(2,845)	(216)
Deletions related to plugging costs	(342)	(235)
Accretion expense and other	330	414
Revisions and other	204	(66)
Ending future site restoration obligation	$ 4,708	$ 7,360

Note 2 - Revenue From Contrac_3

Note 2 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Gas Balancing Asset (Liability)	$ 0	$ 0
Contract with Customer, Asset, after Allowance for Credit Loss, Total	$ 12,300	$ 8,800

Note 2 - Revenue From Contrac_4

Note 2 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Oil Revenues [Member]
Revenue		$ 61,228	$ 41,969
Gas Revenues [Member]
Revenue		8,656	586
Natural Gas Liquids Revenues [Member]
Revenue		8,952	429
Permian / Delaware Basin [Member] | Oil Revenues [Member]
Revenue		32,666	22,891
Permian / Delaware Basin [Member] | Gas Revenues [Member]
Revenue		4,474	335
Permian / Delaware Basin [Member] | Natural Gas Liquids Revenues [Member]
Revenue		2,181	163
Rocky Mountain [Member] | Oil Revenues [Member]
Revenue	[1]	28,562	19,078
Rocky Mountain [Member] | Gas Revenues [Member]
Revenue	[1]	4,182	251
Rocky Mountain [Member] | Natural Gas Liquids Revenues [Member]
Revenue	[1]	$ 6,771	$ 266
[1]	All Rocky Mountain assest sold January 3, 2022.

Note 3 - Reverse Stock Split (D

Note 3 - Reverse Stock Split (Details Textual) $ / shares in Units, $ in Millions	Oct. 19, 2020$ / sharesshares	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares	Oct. 18, 2020shares
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares				$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)				20,000,000	20,000,000
Common Stock, Shares, Outstanding, Ending Balance (in shares)				8,421,910	8,421,910
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.01
Common Stock, Shares Authorized (in shares)	20,000,000					400,000,000
Common Stock, Shares, Outstanding, Ending Balance (in shares)	8,453,466					168,069,305
Adjustments to Additional Paid in Capital, Stock Split | $		$ 1.6	$ 1.6

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual)	Nov. 22, 2021USD ($)	Oct. 19, 2020USD ($)$ / sharesshares	Jun. 25, 2020USD ($)	Nov. 13, 2019USD ($)	Sep. 30, 2021	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Aug. 11, 2020$ / sharesshares
Long-term Debt, Total						$ 2,205,000	$ 2,515,000
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		20
Warrant Issued to Lender [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares		1,672,290						33,445,792
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares		$ 0.20						$ 0.01
Warrants and Rights Outstanding, Term (Year)		5 years
Gain (Loss) on Cancellation of Warrant	$ (2,500,000)
Second Lien Credit Facility [Member]
Gain (Loss) on Extinguishment of Debt, Total						0	(4,108,000)
Line of Credit [Member] | First Lien Credit Facility [Member]
Long-term Line of Credit, Total						$ 71,400,000
Debt Instrument, Spread on Elected Variable Rate						0.50%
Debt Instrument, Debt Default, Basis Spread on Variable Rate					3.00%	3.00%
Line of Credit Facility, Interest Rate at Period End						8.75%
Debt Instrument, Collateral Eligible, Minimum Percent of PV-9 of Proven Reserves Required						90.00%
Debt Instrument, Collateral Eligible, Minimum Percent of PV-9 of PDP Reserves Required						95.00%
Debt Instrument, Covenant, Working Capital Reserve			$ 3,000,000
Debt Instrument, Covenant, Maximum Capital Expenditures			$ 3,000,000
Debt Instrument, Covenant, Minimum Asset Coverage Ratio for Capital Expenditures			1.60
Debt Instrument, Covenant, Maximum Line of Credit Outstanding for Capital Expenditures			$ 50,000,000
Debt Instrument, Covenant, Maximum Outstanding and Undisputed Accounts Payable			7,500,000
Debt Instrument, Covenant, Maximum Undisputed Accounts Payable Outstanding with 60 to 90 Days			2,000,000
Debt Instrument, Covenant, Maximum Undisputed Accounts Payable Outstanding with Over 90 Days			1,000,000
Debt Instrument, Covenant, Maximum Legal and Professional Fees Excluded from General and Administrative Expense Limitations			1,000,000
Debt Instrument, Covenant, Maximum Additional Subordinated Debt Allowed to Finance Capital Expenditures			25,000,000
Line of Credit Facility, Current Borrowing Capacity			102,000,000
Line of Credit Facility, Remaining Borrowing Capacity						$ 0
Line of Credit [Member] | First Lien Credit Facility [Member] | General and Administrative Expenses for Quarter Ending June 30, 2020 [Member]
Debt Instrument, Covenant, Maximum Quarterly General and Administrative Expenses			9,000,000
Line of Credit [Member] | First Lien Credit Facility [Member] | General and Administrative Expenses for Quarter Ending September 30, 2020 [Member]
Debt Instrument, Covenant, Maximum Quarterly General and Administrative Expenses			8,250,000
Line of Credit [Member] | First Lien Credit Facility [Member] | General and Administrative Expenses for Quarter Ending December 31, 2020 [Member]
Debt Instrument, Covenant, Maximum Quarterly General and Administrative Expenses			6,900,000
Line of Credit [Member] | First Lien Credit Facility [Member] | General and Administrative Expenses for Year End December 31, 2021 [Member]
Debt Instrument, Covenant, Maximum Yearly General and Administrative Expenses			6,500,000
Line of Credit [Member] | First Lien Credit Facility [Member] | General and Administrative Expenses After Year End December 31, 2021 [Member]
Debt Instrument, Covenant, Maximum Yearly General and Administrative Expenses			$ 5,000,000
Line of Credit [Member] | First Lien Credit Facility [Member] | Minimum [Member]
Debt Instrument, Spread on Elected Variable Rate						2.50%
Debt Instrument, Basis Spread on Variable Rate						1.50%
Line of Credit [Member] | First Lien Credit Facility [Member] | Maximum [Member]
Debt Instrument, Spread on Elected Variable Rate						3.50%
Debt Instrument, Basis Spread on Variable Rate						2.50%
Debt Instrument, Covenant, Total Debt to EBITDAX Ratio			2.75
Debt Instrument, Covenant, Asset Coverage Ratio, Current			1.15
Debt Instrument, Covenant, Asset Coverage Ratio, Noncurrent			1.25
Line of Credit [Member] | Second Lien Credit Facility [Member]
Long-term Line of Credit, Total						$ 144,900,000
Debt Instrument, Covenant, Maximum Outstanding and Undisputed Accounts Payable			$ 7,500,000
Debt Instrument, Covenant, Maximum Undisputed Accounts Payable Outstanding with 60 to 90 Days			2,000,000
Debt Instrument, Covenant, Maximum Undisputed Accounts Payable Outstanding with Over 90 Days			1,000,000
Line of Credit Facility, Maximum Borrowing Capacity				$ 100,000,000
Proceeds from Lines of Credit, Total				$ 95,000,000
Line of Credit, Exit Fee						$ 10,000,000	$ 10,000,000
Debt Instrument, Collateral Eligible, Minimum Percent of PV-9 Proven Reserves							90.00%
Debt Instrument, Collateral Eligible, Minimum Percent of PV-9 Required PDP Reserves							95.00%
Gain (Loss) on Extinguishment of Debt, Total		$ 4,100,000
Line of Credit [Member] | Second Lien Credit Facility [Member] | General and Administrative Expenses for Quarter Ending June 30, 2020 [Member]
Debt Instrument, Covenant, Maximum Quarterly General and Administrative Expenses			9,000,000
Line of Credit [Member] | Second Lien Credit Facility [Member] | General and Administrative Expenses for Quarter Ending September 30, 2020 [Member]
Debt Instrument, Covenant, Maximum Quarterly General and Administrative Expenses			8,250,000
Line of Credit [Member] | Second Lien Credit Facility [Member] | General and Administrative Expenses for Year End December 31, 2021 [Member]
Debt Instrument, Covenant, Maximum Yearly General and Administrative Expenses			6,500,000
Line of Credit [Member] | Second Lien Credit Facility [Member] | General and Administrative Expenses After Year End December 31, 2021 [Member]
Debt Instrument, Covenant, Maximum Yearly General and Administrative Expenses			$ 5,000,000
Line of Credit [Member] | Second Lien Credit Facility [Member] | Maximum [Member]
Debt Instrument, Covenant, Asset Coverage Ratio, Noncurrent, Year Two			1.45
Debt Instrument, Covenant, Asset Coverage Ratio, Noncurrent, after Year Two			1.55
Construction Loans [Member]
Debt Instrument, Interest Rate, Stated Percentage						4.90%
Debt Instrument, Periodic Payment, Total						$ 35,672
Long-term Debt, Total						$ 2,500,000	$ 2,800,000

Note 4 - Long-term Debt - Debt

Note 4 - Long-term Debt - Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Long-term debt	$ 218,822	$ 220,505
Less current maturities	(212,688)	(202,751)
Long-term Debt, Noncurrent, Gross	6,134	17,754
Deferred financing fees and debt issuance cost - net	(3,929)	(15,239)
Total long-term debt, net of deferred financing fees and debt issuance costs	2,205	2,515
Line of Credit [Member] | First Lien Credit Facility [Member]
Long-term debt	71,400	95,000
Line of Credit [Member] | Second Lien Credit Facility [Member]
Long-term debt	134,907	112,695
Exit fee - Second Lien Credit Facility	10,000	10,000
Mortgages [Member]
Long-term debt	$ 2,515	$ 2,810

Note 4 - Long-term Debt - Matur

Note 4 - Long-term Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
2022	$ 216,617
2023	2,205
2025	0
2026	0
Thereafter	0
Total	$ 218,822	$ 220,505

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Oil and gas properties (1)		$ 1,205,044	$ 1,206,789
Accumulated depreciation, depletion, amortization and impairment		(1,099,075)	(1,083,843)
Net Property and Equipment		105,969	122,946
Oil and Gas Properties [Member]
Oil and gas properties (1)	[1]	1,165,707	1,167,333
Equipment and Other [Member]
Oil and gas properties (1)		$ 15,257	15,348
Equipment and Other [Member] | Minimum [Member]
Estimated Useful Life (Year)		3 years
Equipment and Other [Member] | Maximum [Member]
Estimated Useful Life (Year)		39 years
Drilling Rig [Member]
Oil and gas properties (1)		$ 24,080	$ 24,108
Estimated Useful Life (Year)		15 years
[1]	Oil and gas properties are amortized utilizing the units of production method.

Note 6 - Stock-based Compensa_3

Note 6 - Stock-based Compensation and Option Plans (Details Textual) - USD ($)	Apr. 01, 2018	Dec. 31, 2021	Dec. 31, 2020
Common Stock, Capital Shares Reserved for Future Issuance (in shares)		1,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		0	0
Share-based Payment Arrangement, Noncash Expense, Total		$ 946,000	$ 1,312,000
Directors Plan 2005 [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)		70,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee (in shares)		1,250
Percentage of Exercise Price Awarded		100.00%
Share-based Payment Arrangement, Option [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)		1,683,639,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 0
Share-based Payment Arrangement, Noncash Expense, Total		0	100,000
Restricted Stock [Member]
Share-based Payment Arrangement, Noncash Expense, Total		600,000	$ 900,000
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount		$ 100,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)		24	33
Restricted Stock [Member] | Directors Plan 2005 [Member] | Share-based Payment Arrangement, Nonemployee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Amount Approved for Issuance Per Participant		$ 12,000
Performance Shares [Member]
Share-based Payment Arrangement, Noncash Expense, Total		200,000	$ 200,000
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount		$ 100,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)		0	0
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Target Payout Rate		100.00%
Performance Shares [Member] | Minimum [Member]
Share-based Compensation Awards, Vesting, Requirement, TSR, Percentage	0.00%
Performance Shares [Member] | Maximum [Member]
Share-based Compensation Awards, Vesting, Requirement, TSR, Percentage	200.00%

Note 6 - Stock-based Compensa_4

Note 6 - Stock-based Compensation and Option Plans - Stock Option Activity (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance (in shares)	196	297
Balance, weighted average exercise price (in dollars per share)	$ 49.69	$ 49.41
Forfeited/Expired (in shares)	(141)	(101)
Forfeited/Expired, weighted average exercise price (in dollars per share)	$ 48.11	$ 48.96
Balance (in shares)	55	196
Balance, weighted average exercise price (in dollars per share)	$ 53.79	$ 49.69
Options outstanding, weighted average remaining life (Year)	3 years 3 months 18 days
Options outstanding, intrinsic value per share (in dollars per share)	$ 0
Exercisable at end of year (in shares)	55
Exercisable, weighted average exercise price (in dollars per share)	$ 53.79
Exercisable, weighted average remaining life (Year)	3 years 3 months 18 days
Exercisable, intrinsic value per share (in dollars per share)	$ 0
Weighted average grant date fair value of stock options granted (per share) (in dollars per share)	$ 0	$ 0
Total fair value of options vested (000's)	$ 0	$ 275
Total intrinsic value of options exercised (000's)	$ 0	$ 0

Note 6 - Stock-based Compensa_5

Note 6 - Stock-based Compensation and Option Plans - Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Outstanding options, number outstanding (in shares) | shares	54,222
Outstanding options, weighted average remaining life (Year)	3 years 3 months 18 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 53.79
Exercisable, number outstanding (in shares) | shares	54,222
Exercisable, weighted average remaining life (Year)	3 years 3 months 18 days
Exercisable, weighted average exercise price (in dollars per share)	$ 53.79
Range One [Member]
Exercise price range, lower limit (in dollars per share)	19.40
Exercise price range, upper limit (in dollars per share)	$ 29.99
Outstanding options, number outstanding (in shares) | shares	12,700
Outstanding options, weighted average remaining life (Year)	2 years 10 months 24 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 22.61
Exercisable, number outstanding (in shares) | shares	12,700
Exercisable, weighted average remaining life (Year)	2 years 10 months 24 days
Exercisable, weighted average exercise price (in dollars per share)	$ 22.61
Range Two [Member]
Exercise price range, lower limit (in dollars per share)	30
Exercise price range, upper limit (in dollars per share)	$ 39.99
Outstanding options, number outstanding (in shares) | shares	5,350
Outstanding options, weighted average remaining life (Year)	5 years 4 months 24 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 37.47
Exercisable, number outstanding (in shares) | shares	5,350
Exercisable, weighted average remaining life (Year)	5 years 4 months 24 days
Exercisable, weighted average exercise price (in dollars per share)	$ 37.47
Range Three [Member]
Exercise price range, lower limit (in dollars per share)	40
Exercise price range, upper limit (in dollars per share)	$ 49.99
Outstanding options, number outstanding (in shares) | shares	6,228
Outstanding options, weighted average remaining life (Year)	1 year 4 months 24 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 47.79
Exercisable, number outstanding (in shares) | shares	6,228
Exercisable, weighted average remaining life (Year)	1 year 4 months 24 days
Exercisable, weighted average exercise price (in dollars per share)	$ 47.79
Range Four [Member]
Exercise price range, lower limit (in dollars per share)	50
Exercise price range, upper limit (in dollars per share)	$ 59.99
Outstanding options, number outstanding (in shares) | shares	8,900
Outstanding options, weighted average remaining life (Year)	4 years 2 months 12 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 57.16
Exercisable, number outstanding (in shares) | shares	8,900
Exercisable, weighted average remaining life (Year)	4 years 2 months 12 days
Exercisable, weighted average exercise price (in dollars per share)	$ 57.16
Range Five [Member]
Exercise price range, lower limit (in dollars per share)	60
Exercise price range, upper limit (in dollars per share)	$ 69.99
Outstanding options, number outstanding (in shares) | shares	7,594
Outstanding options, weighted average remaining life (Year)	2 years 2 months 12 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 63.24
Exercisable, number outstanding (in shares) | shares	7,594
Exercisable, weighted average remaining life (Year)	2 years 2 months 12 days
Exercisable, weighted average exercise price (in dollars per share)	$ 63.24
Range Six [Member]
Exercise price range, lower limit (in dollars per share)	70
Exercise price range, upper limit (in dollars per share)	$ 79.99
Outstanding options, number outstanding (in shares) | shares	6,500
Outstanding options, weighted average remaining life (Year)	2 years 7 months 6 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 73.57
Exercisable, number outstanding (in shares) | shares	6,500
Exercisable, weighted average remaining life (Year)	2 years 7 months 6 days
Exercisable, weighted average exercise price (in dollars per share)	$ 73.57
Range Seven [Member]
Exercise price range, lower limit (in dollars per share)	80
Exercise price range, upper limit (in dollars per share)	$ 89.99
Outstanding options, number outstanding (in shares) | shares	1,500
Outstanding options, weighted average remaining life (Year)	5 years 6 months
Outstanding options, weighted average exercise price (in dollars per share)	$ 86.40
Exercisable, number outstanding (in shares) | shares	1,500
Exercisable, weighted average remaining life (Year)	5 years 6 months
Exercisable, weighted average exercise price (in dollars per share)	$ 86.40
Range Eight [Member]
Exercise price range, lower limit (in dollars per share)	90
Exercise price range, upper limit (in dollars per share)	$ 99.99
Outstanding options, number outstanding (in shares) | shares	3,000
Outstanding options, weighted average remaining life (Year)	5 years 10 months 24 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 90.10
Exercisable, number outstanding (in shares) | shares	3,000
Exercisable, weighted average remaining life (Year)	5 years 10 months 24 days
Exercisable, weighted average exercise price (in dollars per share)	$ 890.10
Range Nine [Member]
Exercise price range, lower limit (in dollars per share)	100
Exercise price range, upper limit (in dollars per share)	$ 125.60
Outstanding options, number outstanding (in shares) | shares	2,450
Outstanding options, weighted average remaining life (Year)	2 years 3 months 18 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 107.97
Exercisable, number outstanding (in shares) | shares	2,450
Exercisable, weighted average remaining life (Year)	2 years 3 months 18 days
Exercisable, weighted average exercise price (in dollars per share)	$ 107.67

Note 6 - Stock-based Compensa_6

Note 6 - Stock-based Compensation and Option Plans - Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unvested (in shares)	41	89
Unvested, weighted average grant date fair value (in dollars per share)	$ 31.37	$ 31.67
Granted (in shares)	0	0
Granted, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Vested/Released (in shares)	(24)	(33)
Vested/Released, weighted average grant date fair value (in dollars per share)	$ 33.23	$ 32.11
Forfeited/Expired (in shares)	(3)	(15)
Forfeited/Expired, weighted average grant date fair value (in dollars per share)	$ 32.07	$ 31.52
Unvested (in shares)	14	41
Unvested, weighted average grant date fair value (in dollars per share)	$ 27.97	$ 31.37

Note 6 - Stock-based Compensa_7

Note 6 - Stock-based Compensation and Option Plans - Performance Based Restricted Stock Awards (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unvested (in shares)	44	57
Unvested, weighted average grant date fair value (in dollars per share)	$ 33.73	$ 33.86
Granted (in shares)	0	0
Granted, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Vested/Released (in shares)	0	0
Vested/Released, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Forfeited/Expired (in shares)	(16)	(13)
Forfeited/Expired, weighted average grant date fair value (in dollars per share)	$ 45.73	$ 34.29
Unvested (in shares)	28	44
Unvested, weighted average grant date fair value (in dollars per share)	$ 26.80	$ 33.73

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets, Valuation Allowance, Total	$ 124,080	$ 117,270
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 0	$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Pre 2018 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	$ 245,200
Post 2018 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	$ 190,800
Earliest Tax Year [Member]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2022
Latest Tax Year [Member]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2037

Note 7 - Income Taxes - Deferre

Note 7 - Income Taxes - Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Hedge contracts	$ 0	$ 4,299
Other	2,855	2,137
Total deferred tax liabilities	2,855	6,436
US full cost pool	24,464	35,500
Depletion carryforward	470	461
U.S. net operating loss carryforward	96,120	84,927
Alternative minimum tax credit	0	0
Hedge contracts	100	0
Interest disallowed	5,781	2,818
Total deferred tax assets	126,935	123,706
Valuation allowance for deferred tax assets	(124,080)	(117,270)
Net deferred tax assets	2,855	6,436
Net deferred tax	$ 0	$ 0

Note 7 - Income Taxes - Provisi

Note 7 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Federal	$ 0	$ 0
State	0	0
Federal	$ 0	$ 0

Note 7 - Income Taxes - Reconci

Note 7 - Income Taxes - Reconciliation of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Tax benefit at U.S. Statutory rates	$ 9,359	$ 38,749
Change in deferred tax asset valuation allowance	(7,007)	(37,193)
Alternative minimum tax expense	0	0
Adjustment to deferred tax assets	(3,421)	0
Permanent differences	368	(276)
Return to provision estimated revision	0	(3,069)
State income taxes, net of federal effect	688	1,789
Other	$ 13	$ 0

Note 9 - Earnings Per Share - C

Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Net loss	$ (44,567)	$ (184,522)
Basic (in shares)	8,408	8,382
Effect of dilutive securities: Stock options, restricted shares and performance based shares (in shares)	0	0
Denominator for diluted earnings per share - adjusted weighted-average shares and assumed exercise of options, restricted shares and performance based shares (in shares)	8,408	8,382
Net loss per common share - basic (in dollars per share)	$ (5.30)	$ (22.01)
Net loss per common share - diluted (in dollars per share)	$ (5.30)	$ (22.01)

Note 10 - Benefit Plans (Detail

Note 10 - Benefit Plans (Details Textual)	12 Months Ended
	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Deferred Compensation Arrangement with Individual, Contributions by Employer		$ 123,639	$ 142,820
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			1.00%
Defined Contribution Plan, Employer Matching Contribution, Amount of Cents Per Dollar Increase for Each Additional Percentage Point		50
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent		5.00%
Defined Contribution Plan Employee Contribution Limit Below 50 Years of Age		$ 19,500
Defined Contribution Plan Employee Contribution Limit 50 Years of Age or Older		$ 26,000
Forecast [Member]
Deferred Compensation Arrangement with Individual, Contributions by Employer	$ 1,637

Note 11 - Hedging Program and_3

Note 11 - Hedging Program and Derivatives (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Derivative Liability, Total	$ 442	$ 480
Commodity Contract [Member]
Derivative Liability, Total	400
Commodity Contract [Member] | (Gain) Loss on Derivative Contracts [Member]
Gain (Loss) on Sale of Derivatives	(33,000)	$ 42,900
Commodity Closed Contracts [Member] | (Gain) Loss on Derivative Contracts [Member]
Gain (Loss) on Sale of Derivatives	$ (7,100)

Note 11 - Hedging Program and_4

Note 11 - Hedging Program and Derivatives - Impact of Derivative Contracts on Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative asset, current	$ 0	$ 9,639
Derivative liability, current	442	480
Derivative asset, long-term	0	10,281
Derivative asset		19,920
Derivative Liability, Total	442	480
Commodity Contract [Member]
Derivative Liability, Total	400
Commodity Contract [Member] | Derivative Assets Current [Member]
Derivative asset, current		9,639
Commodity Contract [Member] | Derivative Liabilities Current [Member]
Derivative liability, current	$ 442	480
Commodity Contract [Member] | Derivative Assets Noncurrent [Member]
Derivative asset, long-term		$ 10,281

Note 12 - Financial Instrumen_3

Note 12 - Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative assets		$ 19,920
Derivative liabilities	$ 442	480
Fair Value, Recurring [Member]
Derivative assets	0	19,920
Derivative liabilities	442	480
Fair Value, Recurring [Member] | Fixed Price Derivative Contracts [Member]
Derivative assets	0	19,920
Derivative liabilities	442	480
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative assets	0	0
Derivative liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Fixed Price Derivative Contracts [Member]
Derivative assets	0	0
Derivative liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative assets	0	19,920
Derivative liabilities	442	480
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Price Derivative Contracts [Member]
Derivative assets	0	19,920
Derivative liabilities	442	480
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative assets	0	0
Derivative liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Price Derivative Contracts [Member]
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

Note 13 - Lease Accounting St_3

Note 13 - Lease Accounting Standard (Details Textual)	Dec. 31, 2021
Lease for Residence in North Dakota [Member]
Lessee, Operating Lease, Term of Contract (Year)	5 years

Note 13 - Lease Accounting St_4

Note 13 - Lease Accounting Standard - Total Lease Expense (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Operating lease cost		$ 65	$ 114
Short-term lease expense	[1]	1,913	2,183
Total lease expense		$ 1,978	$ 2,297
Weighted Average Remaining Lease Term (Year)		12 years 5 months 15 days	10 years 8 months 4 days
Weighted Average Discount Rate		6.00%	6.00%
Cash paid for amounts included in the measurement of lease liabilities		$ 65	$ 114
Right of Use assets added in exchange for lease obligations (since adoption)		0	125
Drilling Rig [Member]
Short-term lease expense	[2]	$ 0	$ 973
[1]	Short-term lease expense represents expense related to leases with a contract term of 12 months or less.
[2]	These short-term lease costs are related to leases with a contract term of 12 months or less which are related to drilling rigs and are capitalized as part of natural gas and oil properties on our balance sheet.

Note 13 - Lease Accounting St_5

Note 13 - Lease Accounting Standard - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating lease Right of Use asset	$ 173	$ 228
Operating lease liability - current	40	53
Operating lease liabilities - long-term	$ 110	$ 150

Note 13 - Lease Accounting St_6

Note 13 - Lease Accounting Standard - Lease Liabilities Maturity (Details) $ in Thousands	Dec. 31, 2021USD ($)
2022	$ 40
2023	41
2024	28
2025	4
2026	4
Thereafter	94
Total lease payments	211
Less imputed interest	(61)
Total lease liability	$ 150

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual) - Subsequent Event [Member]	Jan. 03, 2022USD ($)shares
Annual Rate pf Return, Percent	6.00%
Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares	685,505
Capital Stock, Proceed Distribution Allocation, Percentage to Shares, Tier One	95.00%
Maximum Aggregate Proceeds Received Allowed, Tire One Preference Amount	$ 100,000,000
Maximum Aggregate Proceeds Received Allowed, Tire Two Preference Amount	$ 137,100,000
Capital Stock, Proceed Distribution Allocation, Percentage to Shares, Tier Three	75.00%
Number of Votes Each Share Entitled	69
Preferred Stock, Voting Power, Percent	85.00%
Common Stock [Member]
Capital Stock, Proceed Distribution Allocation, Percentage to Shares, Tier One	5.00%
Capital Stock, Proceed Distribution Allocation, Percentage to Shares, Tier Three	25.00%
Lime Rock Resources V-A, L.P. [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 87,200,000
Proceeds from Sale of Property Plant and Equipment, after Customary Closing Adjustments	73,300,000
AGEF [Member]
Maximum Additional Funding	$ 12,000,000

Note 15 - Events of Default (De

Note 15 - Events of Default (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Apr. 16, 2021	Apr. 12, 2021	Dec. 31, 2020
Termination Value of Hedge Contracts	$ 8,022				$ 0
Morgan Stanley [Member]
Termination Value of Hedge Contracts				$ 9,200
Second Lien Credit Facility [Member]
Debt Instrument, Interest Rate, Additional Default Interest			3.00%
First Lien Credit Facility [Member] | Obligations from Terminated Hedging Arrangements [Member]
Termination Value of Hedge Contracts		$ 9,200
Debt Instrument, Interest Rate, Stated Percentage	0.00%
First Lien Credit Facility [Member] | Morgan Stanley [Member]
Percentage of Outstanding Obligations				3.70%
First Lien Credit Facility [Member] | Morgan Stanley [Member] | Obligations from Terminated Hedging Arrangements [Member]
Termination Value of Hedge Contracts		$ 8,400

Note 16 - Supplemental Oil an_3

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited) - Capitalized Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Proved oil and gas properties	$ 1,165,707	$ 1,167,333
Unproved properties	0	0
Total	1,165,707	1,167,333
Accumulated depreciation, depletion, amortization and impairment	(1,074,144)	(1,060,649)
Net capitalized costs	$ 91,563	$ 106,684

Note 16 - Supplemental Oil an_4

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited) - Cost Incurred (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Development costs	$ 1,145	$ 5,238
Exploration costs	0	0
Property acquisition costs	0	0
Costs Incurred, Acquisition of Oil and Gas Properties, Total	$ 1,145	$ 5,238

Note 16 - Supplemental Oil an_5

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited) - Results of Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / bbl	Dec. 31, 2020USD ($)$ / bbl
Revenues	$ 78,836	$ 42,984
Production costs	(24,137)	(21,090)
Depreciation, depletion and amortization	(13,495)	(22,679)
Accretion of future site restoration	(330)	(414)
Proved property impairment	0	(186,980)
Results of operations from oil and gas producing activities (excluding corporate overhead and interest costs)	$ 40,874	$ (188,179)
Depletion rate per barrel of oil equivalent (in USD per Barrel of Oil) | $ / bbl	6.67	12.58

Note 16 - Supplemental Oil an_6

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited) - Proved Developed and Undeveloped Reserves (2) (Details) - bbl bbl in Thousands	Dec. 31, 2021	Dec. 31, 2020
Oil [Member]
Proved developed reserves (Barrel of Oil)	6,883	9,538
Proved undeveloped reserves (Barrel of Oil)	0	0
Natural Gas Liquids [Member]
Proved developed reserves (Barrel of Oil)	2,914	3,187
Proved undeveloped reserves (Barrel of Oil)	0	0
Natural Gas [Member]
Proved developed reserves (Barrel of Oil)	30,158	24,318
Proved undeveloped reserves (Barrel of Oil)	0	0
Oil Equivalents [Member]
Proved developed reserves (Barrel of Oil)	14,823	16,778
Proved undeveloped reserves (Barrel of Oil)	0	0

Note 16 - Supplemental Oil an_7

Note 16 - Supplemental Oil and Gas Disclosures (Unaudited) - Future Net Cash Inflows (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Future cash inflows	$ 485,982	$ 345,869
Future production costs	(222,309)	(166,781)
Future development costs	(5,623)	(6,291)
Future income tax expense	0	0
Future net cash flows	258,050	172,797
Discount	(104,775)	(66,113)
Standardized Measure of discounted future net cash relating to proved reserves	$ 153,275	$ 106,684