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Condensed Statements Of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income (loss) $ 1,112,156 $ 9,511,953
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 4,624,610 4,100,322
Impairment of producing properties   2,073
Provision for deferred income taxes 71,386 2,679,000
Gain from leasing fee mineral acreage (285,944) (425,141)
Proceeds from leasing fee mineral acreage 292,350 488,173
Net (gain) loss on sales of assets (511,684) (4,428,212)
Directors' deferred compensation expense 90,661 109,383
Total (gain) loss on derivative contracts (208,495) (3,985,826)
Cash receipts (payments) on settled derivative contracts 2,853,916 1,865,779
Restricted stock award expense 1,307,686 1,228,871
Other 55,059 70,526
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables (171,464) 3,944,092
Other current assets 131,854 405,055
Accounts payable 73,810 (228,305)
Income taxes receivable 82,968 (675,268)
Other non-current assets (138,508) 95,283
Income taxes payable   (576,427)
Accrued liabilities 42,994 (332,066)
Total adjustments 8,311,199 4,337,312
Net cash provided by operating activities 9,423,355 13,849,265
Investing Activities    
Capital expenditures (35,726) (275,419)
Acquisition of minerals and overriding royalty interests (2,278,178) (11,914,003)
Net proceeds from sales of assets 515,775 9,223,405
Net cash provided by (used in) investing activities (1,798,129) (2,966,017)
Financing Activities    
Borrowings under Credit Facility 1,000,000 6,000,000
Payments of loan principal (5,000,000) (15,550,000)
Payments on off-market derivative contracts   (560,162)
Purchases of treasury stock   (669)
Payments of dividends (2,159,936) (1,620,442)
Net cash provided by (used in) financing activities (6,159,936) (11,731,273)
Increase (decrease) in cash and cash equivalents 1,465,290 (848,025)
Cash and cash equivalents at beginning of period 806,254 2,115,652
Cash and cash equivalents at end of period 2,271,544 1,267,627
Supplemental Disclosures of Cash Flow Information:    
Interest paid (net of capitalized interest) 1,409,711 1,155,637
Income taxes paid (net of refunds received) 243,130 1,473,696
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 83,977 72,460
Gross additions to properties and equipment 2,357,409 12,952,046
Net increase (decrease) in accounts receivable for properties and equipment additions (43,505) (762,624)
Capital expenditures and acquisitions $ 2,313,904 $ 12,189,422