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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues from contracts with customers:        
Total revenue $ 21,243,927 $ 13,101,059 $ 54,747,029 $ 28,632,220
Operating costs and expenses:        
Lease operating expenses 2,399,092 2,240,259 6,791,496 5,618,585
Gathering system operating expenses 225,809 138,887 556,515 503,381
Development geological and geophysical expenses 2,387 11,583 7,159 34,573
Depletion, depreciation, amortization, and accretion 1,706,030 1,846,911 4,898,988 5,175,865
Gain on sale of oil and gas properties 0 0 (221,642) 0
General and administrative expenses:        
Stock based compensation expense 500,597 300,249 836,949 738,789
Other general and administrative expenses 2,015,272 1,461,703 4,651,547 4,837,164
Total operating costs and expenses 6,849,187 5,999,592 17,521,012 16,908,357
Operating income 14,394,740 7,101,467 37,226,017 11,723,863
Other income (expense):        
Interest income 89,638 11,070 126,804 27,786
Interest expense (17,501) (16,962) (33,565) (66,380)
Gain (loss) on derivative contracts (929,637) (5,055,130) (1,124,547) (6,417,123)
Other (expense) income (32,777) (907) (99,896) 756
Other income (expense), net (890,277) (5,061,929) (1,131,204) (6,454,961)
Net income (loss) before income tax expense 13,504,463 2,039,538 36,094,813 5,268,902
Income tax expense (benefit) 3,896,010 643,072 10,097,484 1,621,894
NET INCOME(LOSS) 9,608,453 1,396,466 25,997,329 3,647,008
Currency translation adjustments (34,524) (15) (48,272) (1,256)
NET COMPREHENSIVE INCOME (LOSS) $ 9,573,929 $ 1,396,451 $ 25,949,057 $ 3,645,751
Net income (loss) per share, basic (in dollars per share) $ 0.42 $ 0.06 $ 1.11 $ 0.15
Net income (loss) per share, diluted (in dollars per share) $ 0.41 $ 0.06 $ 1.11 $ 0.15
Weighted average number of shares outstanding, basic (in shares) 23,011,729 23,564,288 23,419,666 23,757,895
Weighted average number of shares outstanding, diluted (in shares) 23,169,658 23,772,943 23,524,574 23,871,495
Gas, oil, NGL and condensate revenue        
Revenues from contracts with customers:        
Total revenue $ 19,171,121 $ 11,062,443 $ 48,566,282 $ 22,740,352
Gas gathering and compression revenue        
Revenues from contracts with customers:        
Total revenue $ 2,072,806 $ 2,038,616 $ 6,180,747 $ 5,891,868