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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues from contracts with customers:        
Total revenue $ 11,624,733 $ 7,307,818 $ 27,787,873 $ 15,294,561
Operating costs and expenses:        
Lease operating expenses 2,462,785 1,649,867 5,218,683 3,418,329
Gathering system operating expenses 613,795 649,967 1,166,446 1,202,537
Depletion, depreciation, amortization, and accretion 3,201,654 2,048,403 6,677,511 4,428,829
Impairment expense 2,670,000 0 2,676,669 0
General and administrative expenses:        
Stock based compensation expense 385,838 313,589 771,676 635,158
Other general and administrative expenses 1,461,878 1,478,215 3,280,296 3,037,238
Total operating costs and expenses 10,795,950 6,140,041 19,791,281 12,722,091
Operating income 828,783 1,167,777 7,996,592 2,572,470
Other income (expense):        
Interest income 17,247 108,943 32,546 375,215
Interest expense (19,906) (8,759) (32,117) (17,519)
Gain (loss) on derivative contracts 2,573,863 (94,891) 1,111,693 (195,617)
Other (expense) income (10,839) 101,606 (33,338) 101,073
Other income, net 2,560,365 106,899 1,078,784 263,152
Net income before income tax expense 3,389,148 1,274,676 9,075,376 2,835,622
Income tax expense 1,837,687 459,016 3,507,881 513,066
NET INCOME 1,551,461 815,660 5,567,495 2,322,556
Currency translation adjustments (75,496) 22,229 (125,612) 22,593
Unrealized gain (loss) on securities 0 3,011 0 (1,598)
NET COMPREHENSIVE INCOME $ 1,475,965 $ 840,900 $ 5,441,883 $ 2,343,551
Net income per share, basic (in dollars per share) $ 0.07 $ 0.04 $ 0.25 $ 0.11
Net income per share, diluted (in dollars per share) $ 0.07 $ 0.04 $ 0.25 $ 0.11
Weighted average number of shares outstanding, basic (in shares) 22,017,310 21,921,752 22,013,062 21,957,980
Weighted average number of shares outstanding, diluted (in shares) 22,202,315 22,029,475 22,155,629 21,987,142
Gas, oil, NGL, and condensate revenue        
Revenues from contracts with customers:        
Total revenue $ 9,779,728 $ 5,863,370 $ 24,050,518 $ 11,914,415
Gas gathering and compression revenue        
Revenues from contracts with customers:        
Total revenue $ 1,845,005 $ 1,444,448 $ 3,737,355 $ 3,380,146