v3.26.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues from contracts with customers:    
Total revenue $ 51,587,556 $ 31,522,775
Operating costs and expenses:    
Lease operating expenses 12,518,325 7,264,824
Gathering system operating expenses 2,362,036 2,265,190
Depletion, depreciation, amortization, and accretion 12,170,320 10,185,119
Impairment expense 3,936,669 1,450,076
Loss on sale of oil and gas properties 19,256,530 0
Transaction costs 2,947,907 0
General and administrative expenses:    
Stock based compensation expense 1,744,917 1,244,416
Other general and administrative expenses 7,168,235 5,688,714
Total operating costs and expenses 62,104,939 28,098,339
Operating (loss) income (10,517,383) 3,424,436
Other income (expense):    
Interest income 188,369 493,277
Interest expense (624,160) (46,400)
Gain (loss) on derivative contracts, net 5,500,486 (391,147)
Other income, net 16,556 76,727
Other income, net 5,081,251 132,457
Net (loss) income before income tax expense (5,436,132) 3,556,893
Income tax (benefit) expense 362,731 1,629,093
NET (LOSS) INCOME (5,798,863) 1,927,800
Currency translation adjustments (136,700) 262,588
Unrealized loss on securities 0 (1,598)
NET COMPREHENSIVE (LOSS) INCOME $ (5,935,563) $ 2,188,790
Net (loss) income per share, basic (in dollars per share) $ (0.25) $ 0.09
Net (loss) income per share, diluted (in dollars per share) $ (0.25) $ 0.09
Weighted average number of shares outstanding, basic (in shares) 23,020,672 21,930,277
Weighted average number of shares outstanding, diluted (in shares) 23,020,672 21,930,277
Gas, oil, NGL, and condensate revenue    
Revenues from contracts with customers:    
Total revenue $ 44,903,821 $ 25,998,712
Gas gathering and compression revenue    
Revenues from contracts with customers:    
Total revenue $ 6,683,735 $ 5,524,063