Annual report [Section 13 and 15(d), not S-K Item 405]

REVENUE RECOGNITION (Tables)

v3.25.0.1
REVENUE RECOGNITION (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The following table presents revenues disaggregated by product for the years ended December 31, 2024, 2023, and 2022.
For the years ended December 31,
2024 2023 2022
Oil, Natural Gas, and Natural Gas Liquids Revenues
Oil $ 363,971,394  $ 349,044,863  $ 321,062,672 
Natural gas (1) (2)
(9,265,335) 334,175  18,693,631 
Natural gas liquids (1)
11,621,355  11,676,963  7,493,234 
Total oil, natural gas, and natural gas liquids revenues $ 366,327,414  $ 361,056,001  $ 347,249,537 
(1) Beginning on July 1, 2022, the Company began reporting volumes and revenues on a three-stream basis, separately reporting crude oil, natural gas, and NGL sales. For periods prior to July 1, 2022, sales revenues for NGLs were presented with natural gas.
(2) In 2024, the Company experienced a net negative total gas revenue, due to the significant reduction in gross realized sales prices per Mcf, coupled with the growth in the plant fees per Mcf.