2023 Q3 Form 10-Q Financial Statement
#000162828023027315 Filed on August 03, 2023
Income Statement
| Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
|---|---|---|---|
| Revenue | $93.68M | $79.35M | $84.96M |
| YoY Change | -0.77% | -6.61% | 77.89% |
| Cost Of Revenue | $6.528M | $5.681M | $549.4K |
| YoY Change | 13.27% | 934.03% | -38.76% |
| Gross Profit | $87.15M | $73.67M | $84.41M |
| YoY Change | -1.68% | -12.73% | 80.13% |
| Gross Profit Margin | 93.03% | 92.84% | 99.35% |
| Selling, General & Admin | $25.24M | $22.86M | $14.22M |
| YoY Change | 23.07% | 60.82% | 26.19% |
| % of Gross Profit | 28.96% | 31.04% | 16.84% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $21.99M | $20.79M | $10.75M |
| YoY Change | 53.51% | 93.44% | 15.89% |
| % of Gross Profit | 25.23% | 28.23% | 12.73% |
| Operating Expenses | $47.58M | $44.01M | $25.15M |
| YoY Change | 35.66% | 74.97% | 21.36% |
| Operating Profit | $39.57M | $29.66M | $54.15M |
| YoY Change | -26.13% | -45.23% | 133.06% |
| Interest Expense | $11.38M | -$7.206M | $3.279M |
| YoY Change | 62.1% | -319.75% | -10.27% |
| % of Operating Profit | 28.76% | -24.3% | 6.06% |
| Other Income/Expense, Net | -$50.52M | $116.6K | -$10.74M |
| YoY Change | -295.6% | -101.09% | -72.42% |
| Pretax Income | -$10.95M | $22.44M | $43.42M |
| YoY Change | -113.79% | -48.33% | -376.6% |
| Income Tax | -$3.411M | -$6.356M | $1.472M |
| % Of Pretax Income | -28.33% | 3.39% | |
| Net Earnings | -$7.539M | $28.79M | $41.94M |
| YoY Change | -110.04% | -31.36% | -364.01% |
| Net Earnings / Revenue | -8.05% | 36.28% | 49.37% |
| Basic Earnings Per Share | -$0.04 | $0.15 | $0.39 |
| Diluted Earnings Per Share | -$0.04 | $0.15 | $0.32 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 195.4M shares | 195.1M shares | 106.4M |
| Diluted Shares Outstanding | 195.4M shares | 195.9M shares | 130.6M |
Balance Sheet
| Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $138.6K | $1.750M | $2.223M |
| YoY Change | -84.44% | -21.29% | -16.74% |
| Cash & Equivalents | $138.6K | $1.750M | $2.223M |
| Short-Term Investments | |||
| Other Short-Term Assets | $3.878M | $11.37M | $4.559M |
| YoY Change | -76.59% | 149.37% | 188.97% |
| Inventory | $5.549M | $7.327M | |
| Prepaid Expenses | $2.033M | $3.061M | |
| Receivables | $45.76M | $32.04M | $39.50M |
| Other Receivables | $3.306M | $2.618M | $1.350M |
| Total Short-Term Assets | $58.63M | $55.11M | $47.63M |
| YoY Change | -10.11% | 15.7% | 71.1% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.281B | $1.201B | $694.4M |
| YoY Change | 10.99% | 72.95% | 7.75% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $20.67M | $26.01M | $2.110M |
| YoY Change | -32.41% | 1132.72% | 2.99% |
| Total Long-Term Assets | $1.305B | $1.227B | $697.6M |
| YoY Change | 10.0% | 75.87% | 7.68% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $58.63M | $55.11M | $47.63M |
| Total Long-Term Assets | $1.305B | $1.227B | $697.6M |
| Total Assets | $1.363B | $1.282B | $745.2M |
| YoY Change | 8.95% | 72.03% | 10.29% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $110.4M | $90.02M | $64.26M |
| YoY Change | 27.15% | 40.08% | 45.63% |
| Accrued Expenses | $503.4K | $394.4K | $301.3K |
| YoY Change | 64.13% | 30.88% | 39.04% |
| Deferred Revenue | $14.78M | $0.00 | |
| YoY Change | |||
| Short-Term Debt | $950.1K | $1.413M | $894.3K |
| YoY Change | 8.25% | 57.96% | 17.96% |
| Long-Term Debt Due | $807.0K | $761.1K | $407.0K |
| YoY Change | 98.33% | 86.99% | 57.0% |
| Total Short-Term Liabilities | $151.9M | $100.9M | $98.57M |
| YoY Change | 19.85% | 2.41% | 12.16% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $428.7M | $397.8M | $270.7M |
| YoY Change | -1.58% | 46.96% | -9.93% |
| Other Long-Term Liabilities | $48.78M | $40.39M | $16.36M |
| YoY Change | 24.86% | 146.92% | -38.1% |
| Total Long-Term Liabilities | $477.5M | $438.2M | $287.0M |
| YoY Change | 0.6% | 52.65% | -12.21% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $151.9M | $100.9M | $98.57M |
| Total Long-Term Liabilities | $477.5M | $438.2M | $287.0M |
| Total Liabilities | $629.9M | $543.2M | $387.2M |
| YoY Change | 3.72% | 40.27% | -6.69% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$60.35M | -$52.81M | -$203.9M |
| YoY Change | -53.15% | -74.1% | -29.99% |
| Common Stock | $195.4K | $195.4K | $107.2K |
| YoY Change | 48.48% | 82.17% | 7.94% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $733.5M | $738.8M | $358.0M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $1.363B | $1.282B | $745.2M |
| YoY Change | 8.95% | 72.03% | 10.29% |
Cashflow Statement
| Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$7.539M | $28.79M | $41.94M |
| YoY Change | -110.04% | -31.36% | -364.01% |
| Depreciation, Depletion And Amortization | $21.99M | $20.79M | $10.75M |
| YoY Change | 53.51% | 93.44% | 15.89% |
| Cash From Operating Activities | $55.39M | $43.37M | $40.72M |
| YoY Change | -18.75% | 6.49% | 149.48% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $41.36M | $36.44M | -$36.26M |
| YoY Change | -219.33% | -200.51% | 228.3% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$45.97M | $8.325M | $151.2K |
| YoY Change | -74.93% | 5407.14% | |
| Cash From Investing Activities | -$87.33M | -$28.12M | -$36.11M |
| YoY Change | -59.94% | -22.13% | 226.93% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 30.33M | -15.22M | -4.531M |
| YoY Change | -79.58% | 235.99% | 5.16% |
| NET CHANGE | |||
| Cash From Operating Activities | 55.39M | 43.37M | 40.72M |
| Cash From Investing Activities | -87.33M | -28.12M | -36.11M |
| Cash From Financing Activities | 30.33M | -15.22M | -4.531M |
| Net Change In Cash | -1.611M | 24.28K | 84.07K |
| YoY Change | 20.91% | -71.12% | -91.33% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $55.39M | $43.37M | $40.72M |
| Capital Expenditures | $41.36M | $36.44M | -$36.26M |
| Free Cash Flow | $14.04M | $6.923M | $76.98M |
| YoY Change | -86.35% | -91.01% | 181.29% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.32 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.39 | ||
| CY2022Q4 | us-gaap |
Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#DerivativeAssetsCurrent http://fasb.org/us-gaap/2023#DerivativeAssetsNoncurrent | |
| CY2022Q4 | us-gaap |
Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#DerivativeLiabilitiesCurrent http://fasb.org/us-gaap/2023#DerivativeLiabilitiesNoncurrent | |
| CY2023Q2 | us-gaap |
Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#DerivativeAssetsCurrent http://fasb.org/us-gaap/2023#DerivativeAssetsNoncurrent | |
| CY2023Q2 | us-gaap |
Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#DerivativeLiabilitiesCurrent http://fasb.org/us-gaap/2023#DerivativeLiabilitiesNoncurrent | |
| CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
175530212 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
175530212 | shares |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
300624207 | usd |
| CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1521910 | usd |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
7112043 | usd |
| CY2022Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
0 | usd |
| CY2022Q2 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
0 | usd |
| CY2022Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
0 | usd |
| CY2022Q2 | rei |
Share Based Payment Arrangement Values Withheld For Tax Withholding Obligation With Restricted Stock Vested
ShareBasedPaymentArrangementValuesWithheldForTaxWithholdingObligationWithRestrictedStockVested
|
0 | usd |
| CY2022Q2 | rei |
Adjustment To Additional Paid In Capital Payment To Cover Tax Withholdings Income Tax Effect
AdjustmentToAdditionalPaidInCapitalPaymentToCoverTaxWithholdingsIncomeTaxEffect
|
-257694 | usd |
| CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1899245 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
41944422 | usd |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
358007259 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
61507384 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
49056465 | usd | |
| us-gaap |
Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
|
42064603 | usd | |
| us-gaap |
Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
|
20530490 | usd | |
| us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
719725 | usd | |
| us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
374545 | usd | |
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
2440769 | usd | |
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
388548 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4204008 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-185027 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3421155 | usd | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
22209 | usd | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd | |
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
4575710 | usd | |
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-1550961 | usd | |
| rei |
Excess Tax Benefit Expense Related To Share Based Compensation
ExcessTaxBenefitExpenseRelatedToShareBasedCompensation
|
-150877 | usd | |
| rei |
Excess Tax Benefit Expense Related To Share Based Compensation
ExcessTaxBenefitExpenseRelatedToShareBasedCompensation
|
0 | usd | |
| us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
12739565 | usd | |
| us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-35053159 | usd | |
| rei |
Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
|
-478930 | usd | |
| rei |
Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
|
-33732766 | usd | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-8748338 | usd | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
14393828 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1923422 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
0 | usd | |
| us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
959678 | usd | |
| us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
2267717 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-15061289 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
6847979 | usd | |
| us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
-919886 | usd | |
| us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
-1666576 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
87046277 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
65162415 | usd | |
| us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
18511170 | usd | |
| us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | usd | |
| us-gaap |
Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
|
878743 | usd | |
| us-gaap |
Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
|
743851 | usd | |
| us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
72551222 | usd | |
| us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
49654172 | usd | |
| us-gaap |
Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
|
25894 | usd | |
| us-gaap |
Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
|
91760 | usd | |
| us-gaap |
Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
|
332230 | usd | |
| us-gaap |
Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
|
134600 | usd | |
| us-gaap |
Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
|
54558 | usd | |
| us-gaap |
Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
|
25066 | usd | |
| us-gaap |
Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
|
7992917 | usd | |
| us-gaap |
Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
|
0 | usd | |
| us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
359831 | usd | |
| us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
230642 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-5421504 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-15017325 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1962551 | usd | |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3712526 | usd |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2408316 | usd |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
18622944 | usd | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
6228393 | usd | |
| us-gaap |
Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
|
173516 | usd | |
| us-gaap |
Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
|
122206 | usd | |
| rei |
Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
|
2262478 | usd | |
| rei |
Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
|
0 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
1148400 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
142719 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
0 | usd | |
| rei |
Capital Expenditures Incurred But Not Yet Paid1
CapitalExpendituresIncurredButNotYetPaid1
|
-2621236 | usd | |
| rei |
Capital Expenditures Incurred But Not Yet Paid1
CapitalExpendituresIncurredButNotYetPaid1
|
11181178 | usd | |
| rei |
Business Acquisition Deferred Cash Payment
BusinessAcquisitionDeferredCashPayment
|
15000000 | usd | |
| rei |
Business Acquisition Deferred Cash Payment
BusinessAcquisitionDeferredCashPayment
|
0 | usd | |
| rei |
Business Acquisition Post Close Settlement
BusinessAcquisitionPostCloseSettlement
|
3511170 | usd | |
| rei |
Business Acquisition Post Close Settlement
BusinessAcquisitionPostCloseSettlement
|
0 | usd | |
| rei |
Asset Acquisition Consideration Transferred Total
AssetAcquisitionConsiderationTransferredTotal
|
18511170 | usd | |
| rei |
Asset Acquisition Consideration Transferred Total
AssetAcquisitionConsiderationTransferredTotal
|
0 | usd | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The Company’s unaudited condensed financial statements are based on a number of significant estimates, including estimates of oil and natural gas reserve quantities, which are the basis for the calculation of depletion and impairment of oil and gas properties. Reserve estimates, by their nature, are inherently imprecise. Actual results could differ from those estimates. Changes in the future </span>estimated oil and natural gas reserves or the estimated future cash flows attributable to the reserves that are utilized for impairment analysis could have a significant impact on the Company’s future results of operations. | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Receivables</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and receivables.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cash and cash equivalents - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company had cash in excess of federally insured limits of $1,499,975 and $3,462,526 as of June 30, 2023 and December 31, 2022, respectively. The Company places its cash with a high credit quality financial institution. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounts receivable - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Substantially all of the Company’s accounts receivable is from purchasers of oil and natural gas. Oil and natural gas sales are generally unsecured. The Company has not had any significant credit losses in the past and believes its accounts receivable are fully collectable. During the six months ended June 30, 2023, sales to three customers represented 68%, 13% and 11%, respectively, of total oil, natural gas, and natural gas liquids sales. As of June 30, 2023, receivables outstanding from these three customers represented 71%, 13% and 11%, respectively, of accounts receivable. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Production imbalances</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">- </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for natural gas production imbalances using the sales method, which recognizes revenue on all natural gas sold even though the natural gas volumes sold may be more or less than the Company's ownership entitles it to sell. Liabilities are recorded for imbalances greater than the Company’s proportionate share of remaining estimated natural gas reserves.</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recorded no imbalances as of June 30, 2023 or December 31, 2022.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Joint interest billing receivables, net - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has joint interest billing receivables. Joint interest billing receivables are collateralized by the pro rata revenue attributable to the joint interest holders and further by the interest itself. Accounts receivable from joint interest owners or purchasers outstanding longer than the contractual payment terms are considered past due. The following table indicates the Company's provisions for bad debt expense associated with its joint interest billing receivables during the three and six months ended June 30, 2023 and June 30, 2022.</span></div><div style="margin-top:12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.054%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">For the Three Months Ended</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">For the Six Months Ended</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2023</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2023</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Bad debt expense</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,315 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,209 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> | ||
| CY2023Q2 | us-gaap |
Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
|
1499975 | usd |
| CY2022Q4 | us-gaap |
Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
|
3462526 | usd |
| CY2023Q2 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
19315 | usd |
| CY2022Q2 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
22209 | usd | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd | |
| CY2023Q2 | rei |
Oil And Gas Joint Interest Billing Receivables Before Allowance For Credit Loss
OilAndGasJointInterestBillingReceivablesBeforeAllowanceForCreditLoss
|
2776650 | usd |
| CY2022Q4 | rei |
Oil And Gas Joint Interest Billing Receivables Before Allowance For Credit Loss
OilAndGasJointInterestBillingReceivablesBeforeAllowanceForCreditLoss
|
1226049 | usd |
| CY2023Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
158835 | usd |
| CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
242247 | usd |
| CY2023Q2 | us-gaap |
Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
|
2617815 | usd |
| CY2022Q4 | us-gaap |
Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
|
983802 | usd |
| us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
-83412 | usd | |
| CY2023Q2 | us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
20511809 | usd |
| CY2022Q2 | us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
10629787 | usd |
| us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
41492351 | usd | |
| CY2023Q2 | rei |
Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
|
13.05 | usd |
| CY2022Q2 | rei |
Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
|
12.51 | usd |
| rei |
Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
|
12.89 | usd | |
| CY2023Q2 | us-gaap |
Depreciation
Depreciation
|
91628 | usd |
| CY2022Q2 | us-gaap |
Depreciation
Depreciation
|
8567 | usd |
| us-gaap |
Depreciation
Depreciation
|
196729 | usd | |
| us-gaap |
Depreciation
Depreciation
|
48622 | usd | |
| CY2023Q2 | rei |
Notes Payable Current For Obtaining External Insurance
NotesPayableCurrentForObtainingExternalInsurance
|
1412674 | usd |
| CY2023Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2260312 | usd |
| rei |
Income Tax Expense Benefit Discrete Item
IncomeTaxExpenseBenefitDiscreteItem
|
-7700000 | usd | |
| CY2023Q2 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-6640741 | usd |
| CY2022Q2 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
1014048 | usd |
| us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-5111491 | usd | |
| us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
1014048 | usd | |
| CY2023Q2 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
41191 | usd |
| CY2022Q2 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-12813 | usd |
| us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
98481 | usd | |
| us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | usd | |
| CY2023Q2 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
243255 | usd |
| CY2022Q2 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
470974 | usd |
| us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
686658 | usd | |
| us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
536913 | usd | |
| CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-6356295 | usd |
| CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1472209 | usd |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-4326352 | usd | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1550961 | usd | |
| CY2023Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.2833 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.0757 | ||
| CY2023Q2 | rei |
Income Tax Expense Benefit Discrete Item
IncomeTaxExpenseBenefitDiscreteItem
|
-7700000 | usd |
| CY2022Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1899245 | usd |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4204008 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3421155 | usd | |
| CY2023Q2 | rei |
Oil Revenue
OilRevenue
|
78042072 | usd |
| CY2022Q2 | rei |
Oil Revenue
OilRevenue
|
79688536 | usd |
| rei |
Oil Revenue
OilRevenue
|
161628399 | usd | |
| rei |
Oil Revenue
OilRevenue
|
143119163 | usd | |
| CY2023Q2 | rei |
Natural Gas Revenue
NaturalGasRevenue
|
-1100776 | usd |
| CY2022Q2 | rei |
Natural Gas Revenue
NaturalGasRevenue
|
5273339 | usd |
| rei |
Natural Gas Revenue
NaturalGasRevenue
|
-36213 | usd | |
| rei |
Natural Gas Revenue
NaturalGasRevenue
|
10023744 | usd | |
| CY2023Q2 | rei |
Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
|
2407277 | usd |
| CY2022Q2 | rei |
Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
|
0 | usd |
| rei |
Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
|
5839299 | usd | |
| rei |
Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
|
0 | usd | |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
79348573 | usd |
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
84961875 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
167431485 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
153142907 | usd | |
| CY2023Q2 | us-gaap |
Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
|
P36M | |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
220193 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
482328 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
494692 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
398096 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
216000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
0 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
|
416687 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
|
771643 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
|
432695 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
|
11136 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
|
0 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
|
0 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0450 | |
| rei |
Operating Lease Imputed Interest Expense
OperatingLeaseImputedInterestExpense
|
152969 | usd | |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P3Y9M21D | |
| CY2023Q2 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.0605 | |
| rei |
Finance Lease Imputed Interest Expense
FinanceLeaseImputedInterestExpense
|
105298 | usd | |
| CY2023Q2 | us-gaap |
Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
|
P2Y7D | |
| CY2023Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
394404 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
398362 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1263936 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1473897 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1658340 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1872259 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1811309 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2065580 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
152969 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
193321 | usd |
| CY2023Q2 | rei |
Lessee Operating Lease Liability Payments Due Net Of Imputed Interest
LesseeOperatingLeaseLiabilityPaymentsDueNetOfImputedInterest
|
1658340 | usd |
| CY2022Q4 | rei |
Lessee Operating Lease Liability Payments Due Net Of Imputed Interest
LesseeOperatingLeaseLiabilityPaymentsDueNetOfImputedInterest
|
1872259 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
761110 | usd |
| CY2022Q4 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
709653 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
765753 | usd |
| CY2022Q4 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
1052479 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
1526863 | usd |
| CY2022Q4 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
1762132 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
1632161 | usd |
| CY2022Q4 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
1900595 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
105298 | usd |
| CY2022Q4 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
138463 | usd |
| CY2023Q2 | rei |
Finance Lease Liability To Be Paid Net Of Imputed Interest
FinanceLeaseLiabilityToBePaidNetOfImputedInterest
|
1526863 | usd |
| CY2022Q4 | rei |
Finance Lease Liability To Be Paid Net Of Imputed Interest
FinanceLeaseLiabilityToBePaidNetOfImputedInterest
|
1762132 | usd |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.47 | ||
| CY2023Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
115353 | usd |
| CY2022Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
83590 | usd |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
228491 | usd | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
167180 | usd | |
| CY2023Q2 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
1815836 | usd |
| CY2022Q2 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
581799 | usd |
| us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
3029635 | usd | |
| us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
1297602 | usd | |
| CY2023Q2 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
189495 | usd |
| CY2022Q2 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
110850 | usd |
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
375523 | usd | |
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
227465 | usd | |
| CY2023Q2 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
24268 | usd |
| CY2022Q2 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
7280 | usd |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
49699 | usd | |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
13793 | usd | |
| CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
28791605 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
41944422 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
61507384 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
49056465 | usd | |
| CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
193077859 | shares |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
106390776 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
185545775 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
103291669 | shares | |
| CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
195866533 | shares |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
130597589 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
193023966 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
126251705 | shares | |
| CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.15 | |
| CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.39 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.33 | ||
| CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.15 | |
| CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.32 | |
| CY2023Q2 | us-gaap |
Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
|
8000000 | usd |
| CY2023Q2 | rei |
Increase Decrease In Asset Retirement Obligation
IncreaseDecreaseInAssetRetirementObligation
|
-2300000 | usd |
| CY2023Q2 | us-gaap |
Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
|
14604030 | usd |
| CY2022Q4 | us-gaap |
Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
|
16193327 | usd |
| CY2023Q2 | rei |
Derivative Instruments And Hedges Assets Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsDiscountedDeferredPremiumsCurrent
|
6296493 | usd |
| CY2022Q4 | rei |
Derivative Instruments And Hedges Assets Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsDiscountedDeferredPremiumsCurrent
|
11524165 | usd |
| CY2023Q2 | rei |
Derivative Instruments And Hedges Assets Net Of Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsNetOfDiscountedDeferredPremiumsCurrent
|
8307537 | usd |
| CY2022Q4 | rei |
Derivative Instruments And Hedges Assets Net Of Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsNetOfDiscountedDeferredPremiumsCurrent
|
4669162 | usd |
| CY2023Q2 | us-gaap |
Derivative Instruments And Hedges Noncurrent
DerivativeInstrumentsAndHedgesNoncurrent
|
10555937 | usd |
| CY2022Q4 | us-gaap |
Derivative Instruments And Hedges Noncurrent
DerivativeInstrumentsAndHedgesNoncurrent
|
7606258 | usd |
| CY2023Q2 | rei |
Derivative Instruments And Hedges Assets Discounted Deferred Premiums Noncurrent
DerivativeInstrumentsAndHedgesAssetsDiscountedDeferredPremiumsNoncurrent
|
0 | usd |
| CY2022Q4 | rei |
Derivative Instruments And Hedges Assets Discounted Deferred Premiums Noncurrent
DerivativeInstrumentsAndHedgesAssetsDiscountedDeferredPremiumsNoncurrent
|
1476848 | usd |
| CY2023Q2 | rei |
Derivative Instruments And Hedges Assets Net Of Discounted Deferred Premiums Noncurrent
DerivativeInstrumentsAndHedgesAssetsNetOfDiscountedDeferredPremiumsNoncurrent
|
10555937 | usd |
| CY2022Q4 | rei |
Derivative Instruments And Hedges Assets Net Of Discounted Deferred Premiums Noncurrent
DerivativeInstrumentsAndHedgesAssetsNetOfDiscountedDeferredPremiumsNoncurrent
|
6129410 | usd |
| CY2023Q2 | us-gaap |
Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
|
7848580 | usd |
| CY2022Q4 | us-gaap |
Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
|
13345619 | usd |
| CY2023Q2 | us-gaap |
Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
|
10829096 | usd |
| CY2022Q4 | us-gaap |
Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
|
10485650 | usd |
| CY2023Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
3264660 | usd |
| CY2022Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-7457018 | usd |
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
12739565 | usd | |
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-35053159 | usd | |
| CY2023Q2 | rei |
Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
|
179595 | usd |
| CY2022Q2 | rei |
Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
|
-19617265 | usd |
| rei |
Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
|
-478930 | usd | |
| rei |
Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
|
-33732766 | usd | |
| CY2014Q3 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
1000000000 | usd |
| CY2022Q3 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
600000000 | usd |
| CY2023Q2 | rei |
Debt Instrument Covenant Pro Forma Leverage Ratio Maximum Threshold
DebtInstrumentCovenantProFormaLeverageRatioMaximumThreshold
|
2.00 | |
| CY2023Q2 | rei |
Debt Instrument Borrowing Base Utilization Maximum Threshold Percentage
DebtInstrumentBorrowingBaseUtilizationMaximumThresholdPercentage
|
0.80 | |
| CY2022Q3 | rei |
Company Required To Maintaining Rolling Basis
CompanyRequiredToMaintainingRollingBasis
|
P24M | |
| CY2022Q3 | rei |
Minimum Percentage Of Projected Production To Be Hedged
MinimumPercentageOfProjectedProductionToBeHedged
|
0.50 | |
| CY2022Q3 | rei |
Company Required To Maintaining Rolling Basis
CompanyRequiredToMaintainingRollingBasis
|
P24M | |
| CY2022Q3 | rei |
Hedge Testing Percentage
HedgeTestingPercentage
|
0 | |
| CY2022Q3 | rei |
Minimum Percentage Of Projected Production To Be Hedged
MinimumPercentageOfProjectedProductionToBeHedged
|
0.50 | |
| CY2023Q2 | us-gaap |
Line Of Credit
LineOfCredit
|
397000000 | usd |
| us-gaap |
Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
|
0.005 | ||
| us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
202200000 | usd | |
| CY2022Q3 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
600000000 | usd |
| CY2023Q2 | us-gaap |
Line Of Credit
LineOfCredit
|
397000000 | usd |
| CY2022Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
30226306 | usd |
| rei |
Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
|
0 | usd | |
| us-gaap |
Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
|
173516 | usd | |
| rei |
Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
|
2262478 | usd | |
| us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
151656 | usd | |
| us-gaap |
Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
|
0 | usd | |
| us-gaap |
Accretion Expense
AccretionExpense
|
719725 | usd | |
| CY2023Q2 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
28705413 | usd |
| CY2023Q2 | us-gaap |
Asset Retirement Obligation Current
AssetRetirementObligationCurrent
|
408958 | usd |
| CY2022Q4 | us-gaap |
Asset Retirement Obligation Current
AssetRetirementObligationCurrent
|
635843 | usd |
| CY2023Q2 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
28296455 | usd |
| CY2022Q4 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
29590463 | usd |
| CY2023Q2 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
28705413 | usd |
| CY2022Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
30226306 | usd |
| CY2022Q1 | rei |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercised
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExercised
|
0 | |
| CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
0 | usd |
| CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
5163126 | usd |
| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
3613941 | usd |
| CY2023Q2 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
8997543 | usd |
| CY2023Q2 | rei |
Stock Issued During Period Value Common Warrants Exercised
StockIssuedDuringPeriodValueCommonWarrantsExercised
|
8687655 | usd |
| CY2023Q2 | rei |
Payment Of Stock Issuance Costs Advisory Fees
PaymentOfStockIssuanceCostsAdvisoryFees
|
309888 | usd |
| CY2023Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2260312 | usd |
| CY2022Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1899245 | usd |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4204008 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3421155 | usd | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2022Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2022Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2022Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.00 | |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2023Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2023Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2023Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2023Q2 | rei |
Surety Bonds Amount Released
SuretyBondsAmountReleased
|
50150 | usd |
| CY2023Q2 | rei |
Surety Bonds Value
SuretyBondsValue
|
650288 | usd |
| CY2023Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2023Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2023Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2023Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false |
