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Condensed Statements Of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Natural gas, oil and NGL sales $ 8,899,091 $ 21,828,034 $ 27,987,502 $ 56,173,467
Lease bonuses and rental income 620,101 17,350 1,045,242 388,587
Gains (losses) on derivative contracts (337,647) (4,298,614) 3,648,179 (19,669,246)
Revenues 9,181,545 17,546,770 32,680,923 36,892,808
Costs and expenses:        
Lease operating expenses 413,643 961,148 1,273,560 2,791,409
Transportation, gathering and marketing 693,915 1,758,132 2,729,044 4,676,786
Production taxes 387,624 929,330 1,430,950 2,551,920
Depreciation, depletion and amortization 2,022,709 1,550,410 6,123,031 5,694,358
Provision for impairment 36,460 2,703 38,533 8,980
Interest expense 556,941 471,716 1,638,708 988,273
General and administrative 2,760,342 3,783,159 8,919,354 9,405,037
Losses (gains) on asset sales and other (174,492) (3,499,296) (4,369,613) (6,390,978)
Total costs and expenses 6,697,142 5,957,302 17,783,567 19,725,785
Income (loss) before provision (benefit) for income taxes 2,484,403 11,589,468 14,897,356 17,167,023
Provision (benefit) for income taxes 589,000 2,431,000 3,490,000 3,440,000
Net income (loss) $ 1,895,403 $ 9,158,468 $ 11,407,356 $ 13,727,023
Basic earnings (loss) per common share $ 0.05 $ 0.26 $ 0.32 $ 0.39
Diluted earnings (loss) per common share $ 0.05 $ 0.25 $ 0.31 $ 0.39
Weighted average shares outstanding:        
Basic 35,983,116 35,573,813 35,961,570 34,833,427
Diluted 36,656,272 35,916,878 36,670,494 35,204,241
Dividends per share of common stock paid in period $ 0.0225 $ 0.02 $ 0.0675 $ 0.055