v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

 

5.Segment Information

 

The Fund’s operations are managed through a single operating segment. As such, the Fund has only a single reportable segment that derives its revenue from the sale of oil and gas. The Fund’s chief operating decision-maker is the Executive Vice President, Chief Financial Officer and Assistant Secretary of the Fund, who reviews the Fund’s operating results to make decisions about allocating resources and assessing performance for the Fund. The profit or loss metric used to evaluate segment performance is net income; consistent with net income reported on the statement of operations.

 

 

The measure of segment assets is reported on the balance sheet as total assets.

 

The following table is a summary of segment information for the three and six months ended June 30, 2026 and 2025.

Schedule of segment information                    
   Three months ended June 30,   Six months ended June 30, 
   2026   2025   2026   2025 
   (in thousands) 
Revenue                
Oil and gas revenue  $500   $361   $740   $768 
Other revenue   32    57    63    117 
Total revenue   532    418    803    885 
Less:                    
Depletion and amortization   161    190    257    379 
Lease operating expense   22    44    22    97 
Transportation and processing expense   16    20    27    39 
Insurance expense   6    9    21    20 
Workover expense   3    11    7    11 
Other segment items   67    67    139    141 
Net income  $257   $77   $330   $198 

 

Other segment items include accretion expense related to the asset retirement obligations established for the Fund’s oil and gas properties, general and administrative expenses representing costs specifically identifiable or allocable to the Fund, such as accounting and professional fees and insurance expenses, net of interest income earned on cash and cash equivalents and salvage fund.

 

The measure of expenditures for segment assets is reported on the statements of cash flows as “Capital expenditures for oil and gas properties.” Significant noncash items represent “Depletion and amortization” and “Accretion expense” as reported on the statements of cash flows.