Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF OPERATIONS

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STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Oil, Natural Gas, and Natural Gas Liquids Revenues $ 361,056,001 $ 347,249,537 $ 196,305,966
Costs and Operating Expenses      
Lease operating expenses 70,158,227 47,695,351 30,312,399
Gathering, transportation and processing costs 457,573 1,830,024 4,333,232
Ad valorem taxes 6,757,841 4,670,617 2,276,463
Oil and natural gas production taxes 18,135,336 17,125,982 9,123,420
Depreciation, depletion and amortization 88,610,291 55,740,767 37,167,967
Asset retirement obligation accretion 1,425,686 983,432 744,045
Operating lease expense 541,801 363,908 523,487
General and administrative expense 29,188,755 27,095,323 16,068,105
Total Costs and Operating Expenses 215,275,510 155,505,404 100,549,118
Income from Operations 145,780,491 191,744,133 95,756,848
Other Income (Expense)      
Interest income 257,155 4 1
Interest (expense) (43,926,732) (23,167,729) (14,490,474)
Gain (loss) on derivative contracts 2,767,162 (21,532,659) (77,853,141)
Loss on disposal of assets (87,128) 0 0
Other income 198,935 0 0
Net Other Income (Expense) (40,790,608) (44,700,384) (92,343,614)
Income Before Provision for Income Taxes 104,989,883 147,043,749 3,413,234
Provision for Income Taxes (125,242) (8,408,724) (90,342)
Net Income $ 104,864,641 $ 138,635,025 $ 3,322,892
Basic earnings per share (in usd per share) $ 0.55 $ 1.14 $ 0.03
Diluted earnings per share (in usd per share) $ 0.54 $ 0.98 $ 0.03