v3.22.1
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CONDENSED STATEMENTS OF OPERATIONS    
Oil and Natural Gas Revenues $ 68,181,032 $ 39,502,532
Costs and Operating Expenses    
Lease operating expenses 8,953,165 8,226,575
Gathering, transportation and processing costs 1,296,858 935,019
Ad valorem taxes 951,954 737,251
Oil and natural gas production taxes 3,218,362 1,852,762
Depreciation, depletion and amortization 9,781,287 8,108,158
Asset retirement obligation accretion 188,242 193,744
Operating lease expense 83,590 271,517
General and administrative expense 5,522,277 2,912,991
Total Costs and Operating Expenses 29,995,735 23,238,017
Income (Loss) from Operations 38,185,297 16,264,515
Other Income (Expense)    
Interest (expense) (3,398,361) (3,741,969)
(Loss) on derivative contracts (27,596,141) (31,588,639)
Net Other Income (Expense) (30,994,502) (35,330,608)
Income (Loss) Before Provision for Income Taxes 7,190,795 (19,066,093)
Benefit from (Provision for) Income Taxes (78,752) 0
Net Income (Loss) $ 7,112,043 $ (19,066,093)
Basic Earnings (Loss) per share $ 0.07 $ (0.19)
Diluted Earnings (Loss) per share $ 0.06 $ (0.19)

Source