Quarterly report [Sections 13 or 15(d)]

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

v3.25.3
SEGMENT REPORTING - Schedule of Reconciliation of Total Reportable Segments' Measures of Profit/Loss (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]          
Oil, Natural Gas, and Natural Gas Liquids Revenues $ 78,601,336 $ 89,244,383 $ 240,295,302 $ 282,886,868  
Lease operating expenses (20,518,472) (20,315,282) (60,442,005) (57,984,733)  
Gathering, transportation and processing costs (126,569) (102,420) (463,990) (376,103)  
Ad valorem taxes (2,446,565) (2,164,562) (5,627,320) (5,647,469)  
Oil and natural gas production taxes (3,670,987) (4,203,851) (11,088,049) (12,259,418)  
Depreciation, depletion and amortization (25,225,345) (25,662,123) (73,411,242) (74,153,994)  
Ceiling test impairment (72,912,330) 0 (72,912,330) 0  
Asset retirement obligation accretion (390,563) (354,195) (1,099,363) (1,057,213)  
Operating lease expense (175,091) (175,091) (525,272) (525,272)  
General and administrative expense (8,139,771) (6,421,567) (23,898,266) (21,604,323)  
Interest income 74,253 143,704 233,969 367,181  
Interest (expense) (10,052,320) (10,754,243) (31,308,510) (33,199,314)  
Gain (loss) on derivative contracts 444,305 24,731,625 14,163,569 3,888,531  
Gain (loss) on disposal of assets 105,642 0 385,545 89,693  
Other income 0 0 159,712 25,686  
Income (Loss) Before Benefit from (Provision for) Income Taxes (64,432,477) 43,966,378 (25,538,250) 80,450,120  
Total assets 1,434,672,593 1,399,765,010 1,434,672,593 1,399,765,010 $ 1,408,099,474
Capital expenditures 24,589,282 42,691,163 73,868,326 114,313,003  
Operating Segments | Exploration and Production          
Segment Reporting Information [Line Items]          
Oil, Natural Gas, and Natural Gas Liquids Revenues 78,601,336 89,244,383 240,295,302 282,886,868  
Lease operating expenses (20,518,472) (20,315,282) (60,442,005) (57,984,733)  
Gathering, transportation and processing costs (126,569) (102,420) (463,990) (376,103)  
Ad valorem taxes (2,446,565) (2,164,562) (5,627,320) (5,647,469)  
Oil and natural gas production taxes (3,670,987) (4,203,851) (11,088,049) (12,259,418)  
Depreciation, depletion and amortization 0 0 0 0  
Ceiling test impairment 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 (Loss) Before Benefit from (Provision for) Income Taxes 51,838,743 62,458,268 162,673,938 206,619,145  
Total assets 1,401,663,623 1,367,833,052 1,401,663,623 1,367,833,052  
Capital expenditures 24,589,282 42,691,163 73,868,326 114,313,003  
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 (25,225,345) (25,662,123) (73,411,242) (74,153,994)  
Ceiling test impairment (72,912,330) 0 (72,912,330) 0  
Asset retirement obligation accretion (390,563) (354,195) (1,099,363) (1,057,213)  
Operating lease expense (175,091) (175,091) (525,272) (525,272)  
General and administrative expense (8,139,771) (6,421,567) (23,898,266) (21,604,323)  
Interest income 74,253 143,704 233,969 367,181  
Interest (expense) (10,052,320) (10,754,243) (31,308,510) (33,199,314)  
Gain (loss) on derivative contracts 444,305 24,731,625 14,163,569 3,888,531  
Gain (loss) on disposal of assets 105,642 0 385,545 89,693  
Other income 0 0 159,712 25,686  
Income (Loss) Before Benefit from (Provision for) Income Taxes (116,271,220) (18,491,890) (188,212,188) (126,169,025)  
Total assets 33,008,970 31,931,958 33,008,970 31,931,958  
Capital expenditures $ 0 $ 0 $ 0 $ 0