Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Acquisitions and Dispositions (Tables)

v3.22.2.2
Note 3 - Acquisitions and Dispositions (Tables)
9 Months Ended
Sep. 30, 2022
Notes Tables  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
   

February 25, 2021

 
   

(in thousands)

 

Purchase Consideration

       

Cash

  $ 33,959  

Fair value of contingent consideration

    4,647  

Total purchase consideration

  $ 38,606  
   

February 25, 2021

 
   

(in thousands)

 

Assets acquired:

       

Wells, platforms and other production facilities

  $ 37,176  

Equipment and other

    5,568  

Value added tax and other receivables

    1,234  

Abandonment funding

    11,781  

Accounts receivable - trade

    11,220  

Other current assets

    3,963  

Liabilities assumed:

       

Asset retirement obligations

    (14,564 )

Accrued liabilities and other

    (10,121 )

Bargain purchase gain

    (7,651 )

Total purchase price

  $ 38,606  
Business Acquisition, Pro Forma Information [Table Text Block]
   

Three Months Ended September 30,

   

Nine Months Ended September 30,

   
   

2021

   

2021

   
   

(in thousands - unaudited)

   

Pro forma (unaudited)

                 

Crude oil and natural gas sales

  $ 55,899     $ 160,469    

Operating income

    20,030       63,929    

Net income

    31,721       49,341  

(a)

                   

Basic net income loss per share:

                 

Income from continuing operations

  $ 0.53     $ 0.85    

Net income per share

  $ 0.53     $ 0.85    

Basic weighted average shares outstanding

    58,586       58,102    

Diluted net income per share:

                 

Income from continuing operations

  $ 0.53     $ 0.84    

Net income per share

  $ 0.53     $ 0.84    

Diluted weighted average shares outstanding

    58,916       58,654