Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Oil, Natural Gas, and Natural Gas Liquids Revenues $ 79,348,573 $ 84,961,875 $ 167,431,485 $ 153,142,907
Costs and Operating Expenses        
Lease operating expenses 15,938,106 8,301,443 33,410,797 17,254,608
Gathering, transportation and processing costs (1,632) 549,389 (2,455) 1,846,247
Ad valorem taxes 1,670,343 949,239 3,340,956 1,901,193
Oil and natural gas production taxes 4,012,139 4,157,457 8,420,279 7,375,819
Depreciation, depletion and amortization 20,792,932 10,749,204 42,064,603 20,530,491
Asset retirement obligation accretion 353,878 186,303 719,725 374,545
Operating lease expense 115,353 83,590 228,491 167,180
General and administrative expense 6,810,243 5,832,302 13,940,382 11,354,579
Total Costs and Operating Expenses 49,691,362 30,808,927 102,122,778 60,804,662
Income from Operations 29,657,211 54,152,948 65,308,707 92,338,245
Other Income (Expense)        
Interest income 79,745 0 79,745 0
Interest (expense) (10,550,807) (3,279,299) (20,941,086) (6,677,660)
Gain (loss) on derivative contracts 3,264,660 (7,457,018) 12,739,565 (35,053,159)
Gain (loss) on disposal of assets (132,109) 0 (132,109) 0
Other income 116,610 0 126,210 0
Net Other Income (Expense) (7,221,901) (10,736,317) (8,127,675) (41,730,819)
Income Before Benefit from (Provision for) Income Taxes 22,435,310 43,416,631 57,181,032 50,607,426
Benefit from (Provision for) Income Taxes 6,356,295 (1,472,209) 4,326,352 (1,550,961)
Net Income $ 28,791,605 $ 41,944,422 $ 61,507,384 $ 49,056,465
Basic Earnings per Share (in usd per share) $ 0.15 $ 0.39 $ 0.33 $ 0.47
Diluted Earnings per Share (in usd per share) $ 0.15 $ 0.32 $ 0.32 $ 0.39