2021 Q4 Form 10-K Financial Statement

#000155837022002965 Filed on March 07, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $84.51M $285.2M $42.57M
YoY Change 98.53% 92.33% -35.09%
Cost Of Revenue $13.27M $47.20M $10.17M
YoY Change 30.5% 3.03% -29.68%
Gross Profit $71.24M $238.0M $32.40M
YoY Change 119.88% 132.26% -36.63%
Gross Profit Margin 84.3% 83.45% 76.11%
Selling, General & Admin $6.291M $28.83M $8.145M
YoY Change -22.76% 1.1% -7.87%
% of Gross Profit 8.83% 12.11% 25.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.68M $45.41M $13.89M
YoY Change -8.69% -26.82% -30.56%
% of Gross Profit 17.8% 19.08% 42.86%
Operating Expenses $35.93M $134.6M $38.77M
YoY Change -7.33% -8.15% -2.21%
Operating Profit $35.31M $103.4M -$6.374M
YoY Change -653.91% -139.48% -155.55%
Interest Expense -$9.249M -$133.6M -$30.68M
YoY Change -69.85% -515.99% 70.76%
% of Operating Profit -26.2% -129.28%
Other Income/Expense, Net -$131.7M
YoY Change -509.93%
Pretax Income $25.94M -$28.32M -$63.76M
YoY Change -140.68% -87.67% -49.33%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $25.94M -$28.32M -$63.76M
YoY Change -140.68% -87.67% -49.33%
Net Earnings / Revenue 30.69% -9.93% -149.78%
Basic Earnings Per Share -$1.74
Diluted Earnings Per Share $1.594M -$1.74 -$3.935M
COMMON SHARES
Basic Shares Outstanding 16.27M 16.26M
Diluted Shares Outstanding 16.26M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.86M $46.86M $4.295M
YoY Change 991.13% 991.13% -24.66%
Cash & Equivalents $46.86M $46.86M $4.295M
Short-Term Investments
Other Short-Term Assets $1.000K $4.244M $108.0K
YoY Change -99.07% -62.44% -99.31%
Inventory
Prepaid Expenses $975.0K $892.0K
Receivables $36.81M $34.11M $32.24M
Other Receivables $2.696M $2.696M $9.461M
Total Short-Term Assets $87.91M $87.91M $47.84M
YoY Change 83.78% 83.78% -32.77%
LONG-TERM ASSETS
Property, Plant & Equipment $2.432M $297.6M $2.386M
YoY Change 1.93% 1.8% -99.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.515M $2.515M $4.009M
YoY Change -37.27% -37.27% 1689.73%
Other Assets $2.270M $2.270M $2.351M
YoY Change -3.45% -3.45% 234.42%
Total Long-Term Assets $302.4M $302.4M $298.7M
YoY Change 1.24% 1.24% -41.84%
TOTAL ASSETS
Total Short-Term Assets $87.91M $87.91M $47.84M
Total Long-Term Assets $302.4M $302.4M $298.7M
Total Assets $390.3M $390.3M $346.5M
YoY Change 12.63% 12.63% -40.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.08M $48.08M $39.26M
YoY Change 22.47% 22.47% -36.45%
Accrued Expenses $15.12M $15.12M $20.07M
YoY Change -24.69% -24.69% -44.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $85.00K $85.00K $1.720M
YoY Change -95.06% -95.06%
Total Short-Term Liabilities $121.6M $121.6M $83.18M
YoY Change 46.2% 46.2% -21.85%
LONG-TERM LIABILITIES
Long-Term Debt $181.6M $181.6M $158.5M
YoY Change 14.56% 14.56% 10.06%
Other Long-Term Liabilities $4.003M $23.40M $14.87M
YoY Change -73.09% 57.29% -15.4%
Total Long-Term Liabilities $185.6M $205.0M $158.5M
YoY Change 17.09% 18.23% -1.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $121.6M $121.6M $83.18M
Total Long-Term Liabilities $185.6M $205.0M $158.5M
Total Liabilities $307.2M $326.6M $241.7M
YoY Change 27.11% 27.3% -9.83%
SHAREHOLDERS EQUITY
Retained Earnings -$268.5M -$240.2M
YoY Change 11.79%
Common Stock $2.000K $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $63.71M $63.71M $89.96M
YoY Change
Total Liabilities & Shareholders Equity $390.3M $390.3M $346.5M
YoY Change 12.63% 12.63% -40.74%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $25.94M -$28.32M -$63.76M
YoY Change -140.68% -87.67% -49.33%
Depreciation, Depletion And Amortization $12.68M $45.41M $13.89M
YoY Change -8.69% -26.82% -30.56%
Cash From Operating Activities $21.44M $68.57M $2.319M
YoY Change 824.54% 36.61% -67.59%
INVESTING ACTIVITIES
Capital Expenditures -$5.724M -$52.93M -$5.359M
YoY Change 6.81% -48.04% -87.6%
Acquisitions
YoY Change
Other Investing Activities $59.00K -$68.00K $25.51M
YoY Change -99.77% -86.67% 5697.27%
Cash From Investing Activities -$5.665M -$51.91M $20.15M
YoY Change -128.12% -28.25% -147.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $332.1M
YoY Change 151.58%
Cash From Financing Activities 30.72M 27.41M -20.00M
YoY Change -253.58% 69.41% -169.2%
NET CHANGE
Cash From Operating Activities 21.44M 68.57M 2.319M
Cash From Investing Activities -5.665M -51.91M 20.15M
Cash From Financing Activities 30.72M 27.41M -20.00M
Net Change In Cash 46.49M 44.06M 2.468M
YoY Change 1783.75% -836.86% -136.65%
FREE CASH FLOW
Cash From Operating Activities $21.44M $68.57M $2.319M
Capital Expenditures -$5.724M -$52.93M -$5.359M
Free Cash Flow $27.16M $121.5M $7.678M
YoY Change 253.79% -20.1% -84.76%

Facts In Submission

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CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-17987000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
68572000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
50197000
CY2021 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
52557000
CY2020 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
101788000
CY2021 batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
947000
CY2020 batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
29029000
CY2020 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
23000
CY2021 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
371000
CY2020 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
82000
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-68000
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-510000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-51913000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-72354000
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
374000000
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
148209000
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
332085000
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
132000000
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
14220000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27405000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16177000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
44064000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5980000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4295000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10275000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48359000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4295000
CY2021 batl Interest Received
InterestReceived
-8485000
CY2020 batl Interest Received
InterestReceived
-7577000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-1250000
CY2020 batl Cash Paid Received For Reorganization Items
CashPaidReceivedForReorganizationItems
6565000
CY2021 batl Settlement Of Asset Retirement Obligations Increase Decrease Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsIncreaseDecreaseThroughNoncashPaymentsAmount
836000
CY2020 batl Settlement Of Asset Retirement Obligations Increase Decrease Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsIncreaseDecreaseThroughNoncashPaymentsAmount
-592000
CY2020 batl Accrued Equity Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
AccruedEquityIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
-19000
CY2021 batl Debt Issuance Costs Increase Decrease Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncreaseDecreaseIncurredDuringNoncashOrPartialNoncashTransaction
379000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
841000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020 us-gaap Restructuring Charges
RestructuringCharges
2600000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Estimates and assumptions that, in the opinion of management of the Company, are significant include oil and natural gas revenue accruals, capital and operating expense accruals, oil and natural gas reserves, depletion relating to oil and natural gas properties, asset retirement obligations, and fair value estimates. The Company bases its estimates and judgments on historical experience and on various other assumptions and information believed to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company’s consolidated financial statements.</p>
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46864000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4295000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
1495000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48359000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4295000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Concentrations of Credit Risk</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s primary concentrations of credit risk are the risks of uncollectible accounts receivable and of nonperformance by counterparties under the Company’s derivative contracts. Each reporting period, the Company assesses the recoverability of material receivables using historical data, current market conditions and reasonable and supportable forecasts of future economic conditions to determine expected collectability of its material receivables.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s accounts receivable are primarily receivables from joint interest owners and oil and natural gas purchasers. The purchasers of the Company’s oil and natural gas production consist primarily of independent marketers, major oil and natural gas companies and gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts from its oil and natural gas purchasers. In 2021, three individual purchasers of the Company’s production, Western Refining, Inc., Sunoco Inc. and Salt Creek Midstream, LLC, each accounted for more than 10% of total sales, collectively representing 73% of its total sales for the year. In 2020, two individual purchasers of the Company’s production, Western Refining Inc. and Sunoco Inc., each accounted for more than 10% <span style="-sec-ix-hidden:Hidden_EfQH8_w6Bk6y0RJpXqAZmA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">of</span></span><span style="white-space:pre-wrap;"> total sales, collectively representing 57% of its total sales for the year. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payments for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. The Company’s joint interest partners consist primarily of independent oil and natural gas producers. Joint operating agreements govern the operations of an oil or natural gas well and, in most instances, provide for offsetting of amounts payable or receivable between the Company and its joint interest owners. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the Company’s joint interest partners to reimburse the Company could be adversely affected.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s exposure to credit risk under its derivative contracts is varied among major financial institutions with investment grade credit ratings, where it has master netting agreements which provide for offsetting of amounts payable or receivable between the Company and the counterparty. To manage counterparty risk associated with derivative contracts, the Company selects and monitors counterparties based on an assessment of their financial strength and/or credit ratings. At December 31, 2021, the Company’s derivative counterparties include two major financial institutions, both of which are secured lenders under the Term Loan Agreement.</p>
CY2020 batl Reduction Of Discretionary Cash Incentives
ReductionOfDiscretionaryCashIncentives
1600000
CY2021 batl Employee Retention Credit Cares Act
EmployeeRetentionCreditCaresAct
700000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021 batl Defined Contribution Plan Eligibility Minimum Age
DefinedContributionPlanEligibilityMinimumAge
P18Y
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
800000
CY2020 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.10
CY2021 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.10
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
444000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
1986000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3152000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
16650000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
375000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
913000
CY2021 us-gaap Lease Cost
LeaseCost
3971000
CY2020 us-gaap Lease Cost
LeaseCost
19549000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
537000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
2350000
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0429
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0370
CY2020Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
1300000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
500000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
391000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
359000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
750000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
721000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
369000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
352000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
284154000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
146775000
CY2021 batl Other Operating Income Including Adjustments
OtherOperatingIncomeIncludingAdjustments
1051000
CY2020 batl Other Operating Income Including Adjustments
OtherOperatingIncomeIncludingAdjustments
1514000
CY2021 us-gaap Revenues
Revenues
285205000
CY2020 us-gaap Revenues
Revenues
148289000
CY2021Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
569886000
CY2020Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
509274000
CY2021Q4 batl Other Capitalized Costs Of Unproved Properties Incurred In2021
OtherCapitalizedCostsOfUnprovedPropertiesIncurredIn2021
1427000
CY2021Q4 batl Other Capitalized Costs Of Unproved Properties Incurred In2020
OtherCapitalizedCostsOfUnprovedPropertiesIncurredIn2020
983000
CY2020Q4 batl Other Capitalized Costs Of Unproved Properties Incurred In2020
OtherCapitalizedCostsOfUnprovedPropertiesIncurredIn2020
983000
CY2021Q4 batl Other Capitalized Costs Of Unproved Properties Incurred In2019
OtherCapitalizedCostsOfUnprovedPropertiesIncurredIn2019
61895000
CY2020Q4 batl Other Capitalized Costs Of Unproved Properties Incurred In2019
OtherCapitalizedCostsOfUnprovedPropertiesIncurredIn2019
74511000
CY2021Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
64305000
CY2020Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
75494000
CY2021Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
634191000
CY2020Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
584768000
CY2021Q4 batl Oil And Gas Property Full Cost Method Accumulated Depletion And Impairment
OilAndGasPropertyFullCostMethodAccumulatedDepletionAndImpairment
339776000
CY2020Q4 batl Oil And Gas Property Full Cost Method Accumulated Depletion And Impairment
OilAndGasPropertyFullCostMethodAccumulatedDepletionAndImpairment
295163000
CY2021Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
294415000
CY2020Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
289605000
CY2021Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
44600000
CY2020Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
60500000
CY2021 batl Schedule Of Oil And Natural Gas Prices Used In Calculation Of Ceiling Test Value Of Reserves
ScheduleOfOilAndNaturalGasPricesUsedInCalculationOfCeilingTestValueOfReserves
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:68.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:68.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;width:12.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">West Texas</b><b style="font-weight:bold;"><br/></b><b style="font-weight:bold;">Intermediate</b><b style="font-weight:bold;"><br/></b><b style="font-weight:bold;">(per barrel) </b><sup style="font-size:6pt;font-style:italic;font-weight:bold;line-height:100%;top:0pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;width:13.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Henry Hub</b><b style="font-weight:bold;"><br/></b><b style="font-weight:bold;">(per MMBtu) </b><sup style="font-size:6pt;font-style:italic;font-weight:bold;line-height:100%;top:0pt;vertical-align:top;">(1)</sup></p></td></tr><tr><td style="vertical-align:bottom;width:68.65%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">December 31, 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.29%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 66.55</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.29%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 3.60</p></td></tr><tr><td style="vertical-align:bottom;width:68.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">December 31, 2020</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 39.54</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1.99</p></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;font-style:italic;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Unweighted average of the first day of the 12-months ended spot price, adjusted by lease or field for quality, transportation fees, and regional price differentials.</i></td></tr></table><div style="margin-top:12pt;"/>
CY2021 batl Oil And Gas Prices First Day Average Of Twelve Months Of West Texas Intermediate Spot Market Price For Ceiling Test
OilAndGasPricesFirstDayAverageOfTwelveMonthsOfWestTexasIntermediateSpotMarketPriceForCeilingTest
66.55
CY2021 batl Oil And Gas Prices First Day Average Of Twelve Months Of Henry Hub Price For Ceiling Test
OilAndGasPricesFirstDayAverageOfTwelveMonthsOfHenryHubPriceForCeilingTest
3.60
CY2020 batl Oil And Gas Prices First Day Average Of Twelve Months Of West Texas Intermediate Spot Market Price For Ceiling Test
OilAndGasPricesFirstDayAverageOfTwelveMonthsOfWestTexasIntermediateSpotMarketPriceForCeilingTest
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