Quarterly report [Sections 13 or 15(d)]

SEGMENT REPORTING - Schedule of Reconciliation of Total Reportable Segments' Measures of Profit/Loss (Details)

v3.25.2
SEGMENT REPORTING - Schedule of Reconciliation of Total Reportable Segments' Measures of Profit/Loss (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]          
Oil, Natural Gas, and Natural Gas Liquids Revenues $ 82,602,759 $ 99,139,349 $ 161,693,966 $ 193,642,485  
Lease operating expenses (20,245,981) (19,309,017) (39,923,533) (37,669,451)  
Gathering, transportation and processing costs (133,809) (107,629) (337,421) (273,683)  
Ad valorem taxes (1,648,647) (1,337,276) (3,180,755) (3,482,907)  
Oil and natural gas production taxes (3,832,607) (3,627,264) (7,417,062) (8,055,567)  
Depreciation, depletion and amortization (25,569,914) (24,699,421) (48,185,897) (48,491,871)  
Asset retirement obligation accretion (382,251) (352,184) (708,800) (703,018)  
Operating lease expense (175,090) (175,090) (350,181) (350,181)  
General and administrative expense (7,138,519) (7,713,534) (15,758,495) (15,182,756)  
Interest income 69,658 144,933 159,716 223,477  
Interest (expense) (11,757,404) (10,946,127) (21,256,190) (22,445,071)  
Gain (loss) on derivative contracts 14,648,054 (1,828,599) 13,719,264 (20,843,094)  
Gain (loss) on disposal of assets 155,293 51,338 279,903 89,693  
Other income 150,770 0 159,712 25,686  
Income Before Provision for Income Taxes 26,742,312 29,239,479 38,894,227 36,483,742  
Total assets 1,516,330,871 1,389,753,885 1,516,330,871 1,389,753,885 $ 1,408,099,474
Capital expenditures 16,827,513 35,360,832 49,279,044 71,621,840  
Operating Segments | Exploration and Production          
Segment Reporting Information [Line Items]          
Oil, Natural Gas, and Natural Gas Liquids Revenues 82,602,759 99,139,349 161,693,966 193,642,485  
Lease operating expenses (20,245,981) (19,309,017) (39,923,533) (37,669,451)  
Gathering, transportation and processing costs (133,809) (107,629) (337,421) (273,683)  
Ad valorem taxes (1,648,647) (1,337,276) (3,180,755) (3,482,907)  
Oil and natural gas production taxes (3,832,607) (3,627,264) (7,417,062) (8,055,567)  
Depreciation, depletion and amortization 0 0 0 0  
Asset retirement obligation accretion 0 0 0 0  
Operating lease expense 0 0 0 0  
General and administrative expense 0 0 0 0  
Interest income 0 0 0 0  
Interest (expense) 0 0 0 0  
Gain (loss) on derivative contracts 0 0 0 0  
Gain (loss) on disposal of assets 0 0 0 0  
Other income 0 0 0 0  
Income Before Provision for Income Taxes 56,741,715 74,758,163 110,835,195 144,160,877  
Total assets 1,479,364,319 1,365,645,578 1,479,364,319 1,365,645,578  
Capital expenditures 16,827,513 35,360,832 49,279,044 71,621,840  
Corporate          
Segment Reporting Information [Line Items]          
Oil, Natural Gas, and Natural Gas Liquids Revenues 0 0 0 0  
Lease operating expenses 0 0 0 0  
Gathering, transportation and processing costs 0 0 0 0  
Ad valorem taxes 0 0 0 0  
Oil and natural gas production taxes 0 0 0 0  
Depreciation, depletion and amortization (25,569,914) (24,699,421) (48,185,897) (48,491,871)  
Asset retirement obligation accretion (382,251) (352,184) (708,800) (703,018)  
Operating lease expense (175,090) (175,090) (350,181) (350,181)  
General and administrative expense (7,138,519) (7,713,534) (15,758,495) (15,182,756)  
Interest income 69,658 144,933 159,716 223,477  
Interest (expense) (11,757,404) (10,946,127) (21,256,190) (22,445,071)  
Gain (loss) on derivative contracts 14,648,054 (1,828,599) 13,719,264 (20,843,094)  
Gain (loss) on disposal of assets 155,293 51,338 279,903 89,693  
Other income 150,770 0 159,712 25,686  
Income Before Provision for Income Taxes (29,999,403) (45,518,684) (71,940,968) (107,677,135)  
Total assets 36,966,552 24,108,307 36,966,552 24,108,307  
Capital expenditures $ 0 $ 0 $ 0 $ 0