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Condensed Statements Of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income (loss) $ (183,615) $ 9,553,244
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 2,356,326 1,889,990
Impairment of producing properties   2,073
Provision for deferred income taxes 25,332 2,934,000
Gain from leasing fee mineral acreage (151,718) (313,150)
Proceeds from leasing fee mineral acreage 151,718 373,878
Net (gain) loss on sales of assets (66,500) (4,417,983)
Directors' deferred compensation expense 45,132 53,589
Total (gain) loss on derivative contracts (627,492) (3,802,820)
Cash receipts (payments) on settled derivative contracts 1,669,309 816,838
Restricted stock award expense 656,656 580,998
Other 35,731 35,904
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables 1,216,455 2,328,673
Other current assets 207,497 123,948
Accounts payable 67,986 (175,207)
Income taxes receivable 378 (776,077)
Other non-current assets 56,338 40,576
Income taxes payable   (576,427)
Accrued liabilities (212,882) 261,430
Total adjustments 5,430,266 (619,767)
Net cash provided by operating activities 5,246,651 8,933,477
Investing Activities    
Capital expenditures (7,440) (190,826)
Acquisition of minerals and overriding royalty interests (1,406,248) (10,236,615)
Net proceeds from sales of assets 66,500 9,210,005
Net cash provided by (used in) investing activities (1,347,188) (1,217,436)
Financing Activities    
Borrowings under Credit Facility 1,000,000 6,000,000
Payments of loan principal (3,000,000) (13,300,000)
Payments on off-market derivative contracts   (560,162)
Payments of dividends (1,079,968) (810,071)
Net cash provided by (used in) financing activities (3,079,968) (8,670,233)
Increase (decrease) in cash and cash equivalents 819,495 (954,192)
Cash and cash equivalents at beginning of period 806,254 2,115,652
Cash and cash equivalents at end of period 1,625,749 1,161,460
Supplemental Disclosures of Cash Flow Information:    
Interest paid (net of capitalized interest) 733,799 611,922
Income taxes paid (net of refunds received) 16,623 1,485,505
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 41,346 50,034
Gross additions to properties and equipment 1,406,743 10,996,880
Net increase (decrease) in accounts receivable for properties and equipment additions 6,945 (569,439)
Capital expenditures and acquisitions $ 1,413,688 $ 10,427,441