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Condensed Statements Of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Natural gas, oil and NGL sales $ 9,826,006 $ 7,231,164 $ 16,916,214 $ 19,088,411
Lease bonuses and rental income 134,226 111,991 285,944 425,141
Gains (losses) on derivative contracts (418,997) 183,006 208,495 3,985,826
Revenues 9,541,235 7,526,161 17,410,653 23,499,378
Costs and expenses:        
Lease operating expenses 294,354 341,463 626,763 916,405
Transportation, gathering and marketing 1,540,396 906,373 2,383,900 2,035,129
Production and ad valorem taxes 597,995 434,580 990,322 986,838
Depreciation, depletion and amortization 2,268,284 2,210,332 4,624,610 4,100,322
Provision for impairment       2,073
Interest expense 651,982 524,294 1,366,868 1,081,767
General and administrative 2,734,628 3,177,103 6,081,665 6,159,012
Losses (gains) on asset sales and other (197,326) 139,307 (173,114) (4,195,121)
Total costs and expenses 7,890,313 7,733,452 15,901,014 11,086,425
Income (loss) before provision for income taxes 1,650,922 (207,291) 1,509,639 12,412,953
Provision for income taxes 355,151 (166,000) 397,483 2,901,000
Net income (loss) $ 1,295,771 $ (41,291) $ 1,112,156 $ 9,511,953
Basic earnings (loss) per common share $ 0.04 $ 0 $ 0.03 $ 0.26
Diluted earnings (loss) per common share $ 0.04 $ 0 $ 0.03 $ 0.26
Weighted average shares outstanding:        
Basic 36,308,224 35,965,281 36,301,540 35,950,615
Diluted 36,379,653 35,965,281 36,301,540 36,034,438
Dividends per share of common stock paid in period $ 0.0300 $ 0.0225 $ 0.06 $ 0.045