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Condensed Statements Of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Natural gas, oil and NGL sales $ 7,888,516 $ 8,899,091 $ 24,804,730 $ 27,987,502
Lease bonuses and rental income 159,271 620,101 445,215 1,045,242
Gains (losses) on derivative contracts 1,089,242 (337,647) 1,297,737 3,648,179
Revenues 9,137,029 9,181,545 26,547,682 32,680,923
Costs and expenses:        
Lease operating expenses 294,720 363,426 921,483 1,279,831
Transportation, gathering and marketing 1,111,980 693,915 3,495,880 2,729,044
Production and ad valorem taxes 428,577 437,841 1,418,899 1,424,679
Depreciation, depletion and amortization 2,376,025 2,022,709 7,000,635 6,123,031
Provision for impairment   36,460   38,533
Interest expense 622,480 556,941 1,989,348 1,638,708
General and administrative 2,683,434 2,760,342 8,765,099 8,919,354
Losses (gains) on asset sales and other 62,248 (174,492) (110,866) (4,369,613)
Total costs and expenses 7,579,464 6,697,142 23,480,478 17,783,567
Income (loss) before provision for income taxes 1,557,565 2,484,403 3,067,204 14,897,356
Provision for income taxes 457,255 589,000 854,738 3,490,000
Net income (loss) $ 1,100,310 $ 1,895,403 $ 2,212,466 $ 11,407,356
Basic earnings (loss) per common share $ 0.03 $ 0.05 $ 0.06 $ 0.32
Diluted earnings (loss) per common share $ 0.03 $ 0.05 $ 0.06 $ 0.31
Weighted average shares outstanding:        
Basic 36,316,742 35,983,116 36,306,593 35,961,570
Diluted 36,983,669 36,656,272 36,731,643 36,670,494
Dividends per share of common stock paid in period $ 0.04 $ 0.0225 $ 0.1 $ 0.0675