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Consolidated Statements of Operations and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenues from contracts with customers:    
Total revenue $ 26,690,336 $ 29,684,205
Operating costs and expenses:    
Lease operating expenses 6,571,394 6,665,856
Gathering system operating expenses 1,337,409 1,279,821
Development geological and geophysical expenses 83,748  
Depletion, depreciation, amortization, and accretion 7,387,681 7,181,753
(Gain) loss on sale/disposal of property (1,375,000) 189,142
General and administrative expenses:    
Stock based compensation expense 510,460 330,232
Other general and administrative expenses 3,989,540 4,605,506
Total operating costs and expenses 18,505,232 20,252,310
Operating income 8,185,104 9,431,895
Other income (expense):    
Interest income 158,879 12,087
Interest expense (115,356) (140,615)
Gain (loss) on derivative contracts 4,246,057 (1,938,465)
Other income (expense) 804 39,583
Other income (expense), net 4,290,384 (2,027,410)
Income before income tax expense 12,475,488 7,404,485
Income tax expense 3,777,489 742,425
NET INCOME 8,697,999 6,662,060
Currency translation adjustments 12,548 (115,306)
NET COMPREHENSIVE INCOME $ 8,710,547 $ 6,546,754
Net income per share, basic $ 0.32 $ 0.24
Net income per share, diluted $ 0.32 $ 0.24
Weighted average number of shares outstanding, basic 27,129,430 27,462,788
Weighted average number of shares outstanding, diluted 27,129,430 27,474,125
Gas, oil, NGLs and condensate    
Revenues from contracts with customers:    
Total revenue $ 17,369,963 $ 19,702,643
Gas gathering and compression    
Revenues from contracts with customers:    
Total revenue $ 9,320,373 $ 9,981,562