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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues from contracts with customers:        
Total revenue $ 8,981,459 $ 7,287,941 $ 36,769,332 $ 22,582,502
Operating costs and expenses:        
Lease operating expenses 2,397,052 2,099,501 7,615,735 5,517,830
Gathering system operating expenses 563,542 490,325 1,729,988 1,692,862
Depletion, depreciation, amortization, and accretion 2,570,462 2,698,812 9,247,973 7,127,641
Impairment expense 0 0 2,676,669 0
General and administrative expenses:        
Stock based compensation expense 376,613 309,109 1,148,289 944,267
Other general and administrative expenses 2,467,785 1,449,576 5,748,081 4,486,814
Total operating costs and expenses 8,375,454 7,047,323 28,166,735 19,769,414
Operating income 606,005 240,618 8,602,597 2,813,088
Other income (expense):        
Interest income 84,894 60,693 117,440 435,908
Interest expense (11,666) (17,598) (43,783) (35,117)
Gain on derivative contracts, net 964,307 440,712 2,076,000 245,095
Other income (expense), net 5,252 9,994 (28,086) 111,067
Other income, net 1,042,787 493,801 2,121,571 756,953
Net income before income tax expense 1,648,792 734,419 10,724,168 3,570,041
Income tax expense 576,497 368,398 4,084,378 881,464
NET INCOME 1,072,295 366,021 6,639,790 2,688,577
Currency translation adjustments (42,676) 39,845 (168,288) 62,438
Unrealized loss on securities 0 0 0 (1,598)
NET COMPREHENSIVE INCOME $ 1,029,619 $ 405,866 $ 6,471,502 $ 2,749,417
Net income per share, basic (in dollars per share) $ 0.05 $ 0.02 $ 0.3 $ 0.12
Net income per share, diluted (in dollars per share) $ 0.05 $ 0.02 $ 0.3 $ 0.12
Weighted average number of shares outstanding, basic (in shares) 22,017,310 21,948,519 22,028,248 21,954,803
Weighted average number of shares outstanding, diluted (in shares) 22,159,532 22,155,292 22,170,223 22,000,881
Gas, oil, NGL, and condensate revenue        
Revenues from contracts with customers:        
Total revenue $ 7,536,248 $ 6,203,953 $ 31,586,766 $ 18,118,368
Gas gathering and compression revenue        
Revenues from contracts with customers:        
Total revenue $ 1,445,211 $ 1,083,988 $ 5,182,566 $ 4,464,134