Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

v3.19.1
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Oil and Gas Revenues $ 41,798,315 $ 29,891,391
Costs and Operating Expenses    
Oil and gas production costs 9,408,764 5,781,910
Oil and gas production taxes 2,082,875 1,425,882
Depreciation, depletion and amortization 12,929,054 8,501,379
Asset retirement obligation accretion 215,945 161,120
Lease expense 128,175 0
General and administrative expense 6,798,017 3,085,980
Total Costs and Operating Expenses 31,562,830 18,956,271
Income from Operations 10,235,485 10,935,120
Other Income (Expense)    
Interest income 12,236 8,953
Interest expense (773,017) (44,483)
Realized loss on derivatives 0 (1,475,026)
Unrealized loss on change in fair value of derivatives (340,685) (790,701)
Net Other Income (Expense) (1,101,466) (2,301,257)
Income before tax provision 9,134,019 8,633,863
(Provision for) Benefit from Income Taxes 1,955,424 (2,968,229)
Net Income $ 11,089,443 $ 5,665,634
Basic Income per Share $ 0.18 $ 0.10
Diluted Income per Share $ 0.17 $ 0.10