v3.26.1
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues from contracts with customers:    
Total revenue $ 25,595,787 $ 16,163,140
Operating costs and expenses:    
Lease operating expenses 7,195,313 2,755,898
Gathering system operating expenses 594,446 552,651
Depletion, depreciation, amortization, and accretion 3,002,339 3,475,857
Impairment expense 0 6,669
Transaction costs 71,420 0
General and administrative expenses:    
Stock based compensation expense 547,527 385,838
Other general and administrative expenses 3,378,142 1,818,418
Total operating costs and expenses 14,789,187 8,995,331
Operating (loss) income 10,806,600 7,167,809
Other income (expense):    
Interest income 45,543 15,299
Interest expense (941,581) (12,211)
Gain (loss) on derivative contracts, net (8,929,829) (1,462,170)
Other income, net 16,428 (22,499)
Other income, net (9,809,439) (1,481,581)
Net (loss) income before income tax expense 997,161 5,686,228
Income tax (benefit) expense 267,736 1,670,194
NET (LOSS) INCOME 729,425 4,016,034
Currency translation adjustments (2,319) (50,116)
NET COMPREHENSIVE (LOSS) INCOME $ 727,106 $ 3,965,918
Net (loss) income per share, basic (in dollars per share) $ 0.02 $ 0.18
Net (loss) income per share, diluted (in dollars per share) $ 0.02 $ 0.18
Weighted average number of shares outstanding, basic (in shares) 30,239,980 22,008,766
Weighted average number of shares outstanding, diluted (in shares) 30,262,466 22,109,819
Gas, oil, NGL, and condensate revenue    
Revenues from contracts with customers:    
Total revenue $ 23,938,010 $ 14,270,790
Gas gathering and compression revenue    
Revenues from contracts with customers:    
Total revenue $ 1,657,777 $ 1,892,350