Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Summary Of Fair Value Measurement Information For Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis.


	Fair Value Measurement at December 31, 2024
	Quoted Prices in Active Markets		Significant Other Observable Inputs			Significant Unobservable Inputs		Total Fair
	(Level 1)		(Level 2)			(Level 3)		Value
Financial Assets (Liabilities):
Derivative Contracts - Swaps	$	-	$	(366,215	)	$	-	$	(366,215	)
Derivative Contracts - Collars	$	-	$	(348,193	)	$	-	$	(348,193	)


	Fair Value Measurement at December 31, 2023
	Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs		Total Fair
	(Level 1)		(Level 2)		(Level 3)		Value
Financial Assets (Liabilities):
Derivative Contracts - Swaps	$	-	$	1,706,042	$	-	$	1,706,042
Derivative Contracts - Collars	$	-	$	1,577,545	$	-	$	1,577,545

Summary Of Impairments Associated With Certain Assets Measured At Fair Value On A Nonrecurring Basis Within Level 3

The following table presents impairments associated with certain assets that have been measured at fair value on a nonrecurring basis within Level 3 of the fair value hierarchy.


	Year Ended December 31,
	2024				2023
	Fair Value		Impairment		Fair Value		Impairment

Producing Properties (a)	$	-	$	24,061	$	-	$	-

(a)

At the end of each quarter, the Company assessed the carrying value of its producing properties for impairment if indicators of impairment existed at such time. If indicators of impairment exist, the Company utilizes estimates of future cash flows of proved properties or fair value (selling price) less cost to sell if the property is held for sale. Significant judgments and assumptions in these assessments include estimates of future natural gas, oil and NGL prices using a

forward NYMEX curve adjusted for projected inflation, locational basis differentials, drilling plans, expected capital costs and an applicable discount rate commensurate with risk of the underlying cash flow estimates. These assessments identified certain properties with carrying value in excess of their calculated fair values. This table excludes impairments on properties that were written off in the amount of $28,612 and $38,533 for the years ended December 31, 2024 and 2023, respectively.