v3.22.2
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
CONDENSED STATEMENTS OF OPERATIONS        
Oil and Natural Gas Revenues $ 84,961,875 $ 47,760,102 $ 153,142,907 $ 87,262,634
Costs and Operating Expenses        
Lease operating expenses 8,301,443 7,424,488 17,254,608 15,651,063
Gathering, transportation and processing costs 549,389 897,166 1,846,247 1,832,185
Ad valorem taxes 949,239 703,775 1,901,193 1,441,026
Oil and natural gas production taxes 4,157,457 2,198,339 7,375,819 4,051,101
Depreciation, depletion and amortization 10,749,204 9,275,126 20,530,491 17,383,284
Asset retirement obligation accretion 186,303 184,013 374,545 377,757
Operating lease expense 83,590 84,790 167,180 356,307
General and administrative expense 5,832,302 3,757,152 11,354,579 6,670,143
Total Costs and Operating Expenses 30,808,927 24,524,849 60,804,662 47,762,866
Income from Operations 54,152,948 23,235,253 92,338,245 39,499,768
Other Income (Expense)        
Interest income   1   1
Interest (expense) (3,279,299) (3,654,529) (6,677,660) (7,396,498)
(Loss) on derivative contracts (7,457,018) (35,277,240) (35,053,159) (66,865,879)
Net Other Income (Expense) (10,736,317) (38,931,768) (41,730,819) (74,262,376)
Income (Loss) Before Provision for Income Taxes 43,416,631 (15,696,515) 50,607,426 (34,762,608)
Benefit from (Provision for) Income Taxes (1,472,209) (190,644) (1,550,961) (190,644)
Net Income (Loss) $ 41,944,422 $ (15,887,159) $ 49,056,465 $ (34,953,252)
Basic Earnings (Loss) per share $ 0.39 $ (0.16) $ 0.47 $ (0.35)
Diluted Earnings (Loss) per share $ 0.32 $ (0.16) $ 0.39 $ (0.35)

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