Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

v3.24.1.u1
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Oil, Natural Gas, and Natural Gas Liquids Revenues $ 94,503,136 $ 88,082,912
Costs and Operating Expenses    
Lease operating expenses 18,360,434 17,472,691
Gathering, transportation and processing costs 166,054 (823)
Ad valorem taxes 2,145,631 1,670,613
Oil and natural gas production taxes 4,428,303 4,408,140
Depreciation, depletion and amortization 23,792,450 21,271,671
Asset retirement obligation accretion 350,834 365,847
Operating lease expense 175,091 113,138
General and administrative expense 7,469,222 7,130,139
Total Costs and Operating Expenses 56,888,019 52,431,416
Income from Operations 37,615,117 35,651,496
Other Income (Expense)    
Interest income 78,544 0
Interest (expense) (11,498,944) (10,390,279)
Gain (loss) on derivative contracts (19,014,495) 9,474,905
Gain (Loss) on Disposition of Intangible Assets 38,355 0
Other income 25,686 9,600
Net Other Income (Expense) (30,370,854) (905,774)
Income Before Benefit from (Provision for) Income Taxes 7,244,263 34,745,722
Benefit from (Provision for) Income Taxes (1,728,886) (2,029,943)
Net Income $ 5,515,377 $ 32,715,779
Basic Earnings per Share (in usd per share) $ 0.03 $ 0.18
Diluted Earnings per Share (in usd per share) $ 0.03 $ 0.17