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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues from contracts with customers:        
Total revenue $ 19,903,004 $ 7,089,849 $ 33,503,102 $ 15,531,161
Operating costs and expenses:        
Lease operating expenses 2,621,750 1,784,138 4,392,404 3,378,327
Gathering system operating expenses 171,495 173,547 330,706 364,494
Development geological and geophysical expenses 2,386 11,451 4,772 22,990
Depletion, depreciation, amortization, and accretion 1,803,739 1,646,094 3,192,958 3,328,954
Gain on sale of oil and gas properties (221,642) 0 (221,642) 0
General and administrative expenses:        
Stock based compensation expense 194,050 236,041 336,352 438,540
Other general and administrative expenses 1,465,143 2,048,300 2,636,275 3,375,461
Total operating costs and expenses 6,036,921 5,899,571 10,671,825 10,908,766
Operating income 13,866,083 1,190,278 22,831,277 4,622,395
Other income (expense):        
Interest income 21,945 8,904 37,166 16,717
Interest expense (745) (22,345) (16,064) (49,418)
Gain (loss) on derivative contracts 776,994 (1,827,334) (194,910) (1,361,993)
Other (expense) income (61,713) (279) (67,119) 1,663
Other income (expense), net 736,481 (1,841,054) (240,927) (1,393,031)
Net income (loss) before income tax expense 14,602,564 (650,776) 22,590,350 3,229,364
Income tax expense (benefit) 4,019,576 (165,751) 6,201,474 978,822
NET INCOME(LOSS) 10,582,988 (485,025) 16,388,876 2,250,542
Currency translation adjustments (19,150) 242 (13,748) (1,242)
NET COMPREHENSIVE INCOME (LOSS) $ 10,563,838 $ (484,783) $ 16,375,128 $ 2,249,300
Net income (loss) per share, basic (in dollars per share) $ 0.45 $ (0.02) $ 0.69 $ 0.09
Net income (loss) per share, diluted (in dollars per share) $ 0.44 $ (0.02) $ 0.69 $ 0.09
Weighted average number of shares outstanding, basic (in shares) 23,576,746 23,779,205 23,627,015 23,862,749
Weighted average number of shares outstanding, diluted (in shares) 23,822,123 23,779,205 23,796,166 23,941,340
Gas, oil, NGL and condensate revenue        
Revenues from contracts with customers:        
Total revenue $ 17,915,836 $ 5,238,754 $ 29,395,161 $ 11,677,909
Gas gathering and compression revenue        
Revenues from contracts with customers:        
Total revenue $ 1,987,168 $ 1,851,095 $ 4,107,941 $ 3,853,252