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
Mar. 31, 2020
Mar. 31, 2019
CONDENSED STATEMENTS OF OPERATIONS    
Oil and Gas Revenues $ 39,570,328 $ 41,798,315
Costs and Operating Expenses    
Oil and gas production costs 10,378,461 9,408,764
Oil and gas production taxes 1,870,245 2,082,875
Depreciation, depletion and amortization 13,682,996 12,929,054
Asset retirement obligation accretion 231,962 215,945
Lease expense 289,051 128,175
General and administrative expense 3,035,895 6,798,017
Total Costs and Operating Expenses 29,488,610 31,562,830
Income from Operations 10,081,718 10,235,485
Other Income (Expense)    
Interest income 5 12,236
Interest expense (4,248,498) (773,017)
Realized gain on derivatives 3,334,128 0
Unrealized gain (loss) on change in fair value of derivatives 47,086,681 (340,685)
Net Other Income (Expense) 46,172,316 (1,101,466)
Income before tax provision 56,254,034 9,134,019
Provision for Income Taxes (12,449,916) (4,864,759)
Net Income $ 43,804,118 $ 4,269,260
Basic Income per Share $ 0.64 $ 0.07
Diluted Income per Share $ 0.64 $ 0.07