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Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating Activities    
Net income $ 2,321,866 $ 13,920,800
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 9,606,444 8,566,185
Impairment of producing properties 52,673 38,533
Provision for deferred income taxes 528,678 4,303,731
Gain from leasing fee mineral acreage (580,805) (1,067,992)
Proceeds from leasing fee mineral acreage 597,389 1,213,913
Net (gain) loss on sales of assets (518,816) (4,728,758)
Directors' deferred compensation expense 185,082 228,017
Total (gain) loss on derivative contracts (299,608) (6,859,589)
Cash receipts (payments) on settled derivative contracts 4,297,603 2,743,475
Restricted stock award expense 2,287,927 2,205,910
Other 98,104 136,412
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables (1,228,828) 4,883,870
Income taxes receivable 127,371 (455,931)
Other current assets (3,064) (45,869)
Accounts payable 252,386 69,228
Other non-current assets (22,985) 206,292
Income taxes payable 0 (576,427)
Accrued liabilities 376,436 (610,661)
Total adjustments 15,755,987 10,250,339
Net cash provided by operating activities 18,077,853 24,171,139
Investing Activities    
Capital expenditures (87,579) (325,983)
Acquisition of minerals and overriding royalty interests (7,796,983) (29,735,516)
Net proceeds from sales of assets 527,167 9,614,194
Net cash provided by (used in) investing activities (7,357,395) (20,447,305)
Financing Activities    
Borrowings under Credit Facility 3,000,000 19,500,000
Payments of loan principal (6,250,000) (20,050,000)
Payments on off-market derivative contracts 0 (560,162)
Purchases of treasury stock (805,063) (402,704)
Payments of dividends (5,229,547) (3,520,366)
Net cash provided by (used in) financing activities (9,284,610) (5,033,232)
Increase (decrease) in cash and cash equivalents 1,435,848 (1,309,398)
Cash and cash equivalents at beginning of period 806,254 2,115,652
Cash and cash equivalents at end of period 2,242,102 806,254
Supplemental Disclosures of Cash Flow Information    
Interest paid (net of capitalized interest) 2,611,089 2,405,361
Income taxes paid (net of refunds received) 318,789 1,464,087
Supplemental schedule of noncash investing and financing activities:    
Dividends declared and unpaid 155,271 113,443
Gross additions to properties and equipment 7,893,036 30,761,578
Net (increase) decrease in accounts receivable for properties and equipment additions (8,474) (700,079)
Capital expenditures and acquisitions $ 7,884,562 $ 30,061,499