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Condensed Statements Of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income (loss) $ 2,212,466 $ 11,407,356
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 7,000,635 6,123,031
Impairment of producing properties   38,533
Provision for deferred income taxes 531,954 3,256,000
Gain from leasing fee mineral acreage (445,215) (1,045,242)
Proceeds from leasing fee mineral acreage 451,616 1,108,909
Net (gain) loss on sales of assets (518,816) (4,671,253)
Directors' deferred compensation expense 137,617 165,582
Total (gain) loss on derivative contracts (1,297,737) (3,648,179)
Cash receipts (payments) on settled derivative contracts 3,786,071 2,468,724
Restricted stock award expense 1,773,789 1,695,637
Other 76,375 105,604
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables 819,566 4,369,921
Other current assets 430,119 408,533
Accounts payable (68,183) (107,796)
Income taxes receivable 112,117 (712,475)
Other non-current assets (81,037) 150,515
Income taxes payable   (576,427)
Accrued liabilities 286,515 272,711
Total adjustments 12,995,386 9,402,328
Net cash provided by operating activities 15,207,852 20,809,684
Investing Activities    
Capital expenditures (64,628) (321,396)
Acquisition of minerals and overriding royalty interests (5,272,847) (25,383,759)
Net proceeds from sales of assets 527,167 9,556,666
Net cash provided by (used in) investing activities (4,810,308) (16,148,489)
Financing Activities    
Borrowings under Credit Facility 1,000,000 16,000,000
Payments of loan principal (6,000,000) (18,550,000)
Payments on off-market derivative contracts   (560,162)
Purchases of treasury stock   (669)
Payments of dividends (3,602,117) (2,430,823)
Net cash provided by (used in) financing activities (8,602,117) (5,541,654)
Increase (decrease) in cash and cash equivalents 1,795,427 (880,459)
Cash and cash equivalents at beginning of period 806,254 2,115,652
Cash and cash equivalents at end of period 2,601,681 1,235,193
Supplemental Disclosures of Cash Flow Information:    
Interest paid (net of capitalized interest) 2,041,252 1,652,872
Income taxes paid (net of refunds received) 210,668 1,522,904
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 140,300 94,587
Gross additions to properties and equipment 5,386,597 26,392,844
Net increase (decrease) in accounts receivable for properties and equipment additions (49,122) (687,689)
Capital expenditures and acquisitions $ 5,337,475 $ 25,705,155