Note 6 - Hedging Program and Derivatives

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

6.  Hedging Program and Derivatives

As of September 30, 2022, the Company is not party to any hedge agreements. The liability as of December 31, 2021 relates to the settlement of the December 2021 contract:

Fair Value of Derivative Contracts as December 31, 2021
	Asset Derivatives			Liability Derivatives
Derivatives not designated as hedging instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity price derivatives	Derivatives – current	$	-	Derivatives – current	$	442
Commodity price derivatives	Derivatives – long-term		-	Derivatives – long-term		-
		$	-		$	442