Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Note 11 - Income Taxes

The effective tax rates for the three months ended March 31, 2025 and 2024 were 27.1% and 25.2%, respectively. For the three months ended March 31, 2025, the difference in the effective tax rate from the U.S. statutory federal income tax rate of 21.0% was primarily due to the Company benefiting from the Section 45I tax credits from marginal production and from the monetization of certain Section 45Q tax credits from the injection of CO2 waste in the Barnett Zero Project well. For the three months ended March 31, 2024, the difference in the effective tax rate from the U.S. statutory federal income tax rate of 21.0% was primarily due to the Company benefiting from the monetization of certain Section 45I tax credits from marginal production.