v3.26.1
Note 3 - Revenue Recognition
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

3. REVENUE RECOGNITION

 

The Company disaggregates revenues from its share of revenue from the sale of oil and natural gas and liquids by region. The Company’s revenues in the Rockies region and the Mid-Continent and Other region for the three and six months ended June 30, 2026 and 2025, are presented in the following table:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
  

(in thousands)

 

Revenue:

                

Rockies

                

Oil

 $1,831  $1,340  $3,152  $2,697 

Natural gas and liquids

  10   34   53   103 

Total

 $1,841  $1,374  $3,205  $2,800 
                 

Mid-Continent

                

Oil

 $203  $504  $259  $917 

Natural gas and liquids

  90   150   275   505 

Total

 $293  $654  $534  $1,422 
                 

Combined Total

 $2,134  $2,028  $3,739  $4,222 

 

 

Significant concentrations of credit risk 

 

The Company has exposure to credit risk in the event of non-payment of oil and natural gas receivables by purchasers of its operated oil and natural gas properties. The following table presents the purchasers that accounted for 10% or more of the Company’s total oil and natural gas revenue for at least one of the periods presented:

 

  

Six Months Ended

 
  

June 30,

 
  

2026

  

2025

 

Purchaser A

  76%  45%

Purchaser B

  8%  21%

Purchaser C

  4%  3%