v3.26.1
CONDENSED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Income Statement [Abstract] | ||||
| Oil, Natural Gas, and Natural Gas Liquids Revenues | $ 104,681,489 | $ 82,602,759 | $ 178,353,153 | $ 161,693,966 |
| Costs and Operating Expenses | ||||
| Lease operating expenses | 18,409,462 | 20,245,981 | 36,531,806 | 39,923,533 |
| Gathering, transportation and processing costs | 101,902 | 133,809 | 218,951 | 337,421 |
| Ad valorem taxes | 2,202,160 | 1,648,647 | 4,404,697 | 3,180,755 |
| Oil and natural gas production taxes | 5,047,619 | 3,832,607 | 8,601,510 | 7,417,062 |
| Depreciation, depletion and amortization | 20,114,890 | 25,569,914 | 41,520,838 | 48,185,897 |
| Ceiling test impairment | 0 | 0 | 162,086,257 | 0 |
| Asset retirement obligation accretion | 401,944 | 382,251 | 797,440 | 708,800 |
| Operating lease expense | 175,090 | 175,090 | 350,181 | 350,181 |
| General and administrative expense | 7,954,230 | 7,138,519 | 15,393,008 | 15,758,495 |
| Total Costs and Operating Expenses | 54,407,297 | 59,126,818 | 269,904,688 | 115,862,144 |
| Income (Loss) from Operations | 50,274,192 | 23,475,941 | (91,551,535) | 45,831,822 |
| Other Income (Expense) | ||||
| Interest income | 148,540 | 69,658 | 219,069 | 159,716 |
| Interest (expense) | (8,379,552) | (11,757,404) | (16,979,161) | (21,256,190) |
| Gain (loss) on derivative contracts | 23,724,426 | 14,648,054 | (58,506,499) | 13,719,264 |
| Gain (loss) on disposal of assets | 104,150 | 155,293 | 104,150 | 279,903 |
| Other income | 9,600 | 150,770 | 15,437 | 159,712 |
| Net Other Income (Expense) | 15,607,164 | 3,266,371 | (75,147,004) | (6,937,595) |
| Income (Loss) Before Benefit from (Provision for) Income Taxes | 65,881,356 | 26,742,312 | (166,698,539) | 38,894,227 |
| Benefit from (Provision for) Income Taxes | (1,088,046) | (6,107,425) | 10,900,367 | (9,148,602) |
| Net Income (Loss) | $ 64,793,310 | $ 20,634,887 | $ (155,798,172) | $ 29,745,625 |
| Basic Earnings (Loss) per Share (in dollars per share) | $ 0.28 | $ 0.10 | $ (0.70) | $ 0.15 |
| Diluted Earnings (Loss) per Share (in dollars per share) | $ 0.27 | $ 0.10 | $ (0.70) | $ 0.15 |
| X | ||||||||||
- Definition Amount of taxes on goods imported or tax on assessed value of property. No definition available.
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| X | ||||||||||
- Definition Cost Of Goods And Services Sold, Including Payout Adjustments No definition available.
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| X | ||||||||||
- Definition Amount of expense incurred and directly related to generating revenue by lessor from operating lease assets. No definition available.
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| X | ||||||||||
- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of intangible assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of impairment loss for long-lived asset held and used. Includes, but is not limited to, impairment loss for long-lived asset to be disposed of other than by sale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition A tax assessed on oil and gas production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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