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Condensed Statements Of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income (loss) $ 9,553,244 $ (4,020,455)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,889,990 2,121,116
Impairment of producing properties 2,073  
Provision for deferred income taxes 2,934,000 (339,000)
Gain from leasing fee mineral acreage (313,150) (160,829)
Proceeds from leasing fee mineral acreage 373,878 233,744
Net (gain) loss on sales of assets (4,417,983) (2,334,644)
Directors' deferred compensation expense 53,589 35,461
Total (gain) loss on derivative contracts (3,802,820) 12,983,406
Cash receipts (payments) on settled derivative contracts 816,838 (176,510)
Restricted stock award expense 580,998 433,137
Other 35,904 (8,655)
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables 2,328,673 (1,431,299)
Other current assets 123,948 120,291
Accounts payable (175,207) 4,062
Income taxes receivable (776,077)  
Other non-current assets 40,576 54,722
Income taxes payable (576,427) (246,206)
Accrued liabilities 261,430 27,989
Total adjustments (619,767) 11,316,785
Net cash provided by operating activities 8,933,477 7,296,330
Investing Activities    
Capital expenditures (190,826) (86,671)
Acquisition of minerals and overriding royalty interests (10,236,615) (9,274,447)
Net proceeds from sales of assets 9,210,005 2,294,480
Net cash provided (used) by investing activities (1,217,436) (7,066,638)
Financing Activities    
Borrowings under Credit Facility 6,000,000 6,000,000
Payments of loan principal (13,300,000) (2,000,000)
Net proceeds from equity issuance   (40,150)
Cash receipts from (payments on) off-market derivative contracts (560,162) (3,527,738)
Payments of dividends (810,071) (517,479)
Net cash provided (used) by financing activities (8,670,233) (85,367)
Increase (decrease) in cash and cash equivalents (954,192) 144,325
Cash and cash equivalents at beginning of period 2,115,652 1,559,350
Cash and cash equivalents at end of period 1,161,460 1,703,675
Supplemental Disclosures of Cash Flow Information:    
Interest paid (net of capitalized interest) 611,922 208,000
Income taxes paid (net of refunds received) 1,485,505 618,206
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 50,034  
Gross additions to properties and equipment 10,996,880 9,338,855
Net (increase) decrease in accounts payable for properties and equipment additions (569,439) 22,263
Capital expenditures and acquisitions $ 10,427,441 $ 9,361,118