Income Taxes - Schedule of Net Deferred Tax Asset (Details) - USD ($) |
Dec. 31, 2024 |
Dec. 31, 2023 |
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Deferred tax assets | ||
Federal net operating loss | $ 1,913,959 | $ 454,225 |
Transaction costs | 1,515,401 | 1,441,904 |
Other debt costs | 885,890 | |
Accrued expenses | 1,202,259 | |
Deferred compensation | 446,113 | |
Derivative liability | 228,732 | |
Stock-based compensation | 648,697 | 268,405 |
Other | 45,322 | 3,611 |
Total deferred tax assets | 6,000,483 | 3,054,035 |
Deferred tax liabilities | ||
Oil and natural gas properties | (8,665,914) | (9,097,162) |
Unrealized gain on derivatives | (27,302) | (120,013) |
Total deferred tax assets | (8,693,216) | (9,217,175) |
Net deferred tax liabilities | (2,692,733) | (6,163,140) |
Valuation allowance for deferred tax assets | ||
Net Deferred tax liability, net of allowance | $ (2,692,733) | $ (6,163,140) |
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from oil and natural gas properties. No definition available.
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- Definition Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from derivative instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from hedging transactions. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences from provisions, reserves, allowances, and accruals, classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from accrued liabilities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of deferred tax liability attributable to taxable temporary differences classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of deferred tax liability attributable to taxable temporary differences from unrealized gains on trading securities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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