Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues from contracts with customers: | ||||
| Total revenue | $ 18,261,656 | $ 11,624,733 | $ 43,857,443 | $ 27,787,873 |
| Operating costs and expenses: | ||||
| Lease operating expenses | 6,330,193 | 2,462,785 | 13,525,506 | 5,218,683 |
| Gathering system operating expenses | 508,475 | 613,795 | 1,102,921 | 1,166,446 |
| Depletion, depreciation, amortization, and accretion | 2,804,107 | 3,201,654 | 5,806,446 | 6,677,511 |
| Impairment expense | 0 | 2,670,000 | 0 | 2,676,669 |
| Gain on sale of oil and gas properties | (4,174,368) | 0 | (4,174,368) | 0 |
| Transaction costs | 202,532 | 0 | 273,952 | 0 |
| General and administrative expenses: | ||||
| Stock based compensation expense | 547,527 | 385,838 | 1,095,054 | 771,676 |
| Other general and administrative expenses | 3,664,814 | 1,461,878 | 7,042,956 | 3,280,296 |
| Total operating costs and expenses | 9,883,280 | 10,795,950 | 24,672,467 | 19,791,281 |
| Operating (loss) income | 8,378,376 | 828,783 | 19,184,976 | 7,996,592 |
| Other income (expense): | ||||
| Interest income | 24,785 | 17,247 | 70,327 | 32,546 |
| Interest expense | (877,267) | (19,906) | (1,818,848) | (32,117) |
| Gain (loss) on derivative contracts, net | 2,245,470 | 2,573,863 | (6,684,358) | 1,111,693 |
| Other income, net | (208,658) | (10,839) | (192,230) | (33,338) |
| Other income, net | 1,184,330 | 2,560,365 | (8,625,109) | 1,078,784 |
| Net (loss) income before income tax expense | 9,562,706 | 3,389,148 | 10,559,867 | 9,075,376 |
| Income tax (benefit) expense | 2,429,235 | 1,837,687 | 2,696,971 | 3,507,881 |
| NET (LOSS) INCOME | 7,133,471 | 1,551,461 | 7,862,896 | 5,567,495 |
| Currency translation adjustments | (2,032) | (75,496) | (4,351) | (125,612) |
| NET COMPREHENSIVE (LOSS) INCOME | $ 7,131,439 | $ 1,475,965 | $ 7,858,545 | $ 5,441,883 |
| Net (loss) income per share, basic (in dollars per share) | $ 0.24 | $ 0.07 | $ 0.26 | $ 0.25 |
| Net (loss) income per share, diluted (in dollars per share) | $ 0.23 | $ 0.07 | $ 0.26 | $ 0.25 |
| Weighted average number of shares outstanding, basic (in shares) | 30,248,522 | 22,017,310 | 30,244,275 | 22,013,062 |
| Weighted average number of shares outstanding, diluted (in shares) | 30,414,909 | 22,202,315 | 30,369,810 | 22,155,629 |
| Gas, oil, NGL, and condensate revenue | ||||
| Revenues from contracts with customers: | ||||
| Total revenue | $ 16,924,916 | $ 9,779,728 | $ 40,862,926 | $ 24,050,518 |
| Gas gathering and compression revenue | ||||
| Revenues from contracts with customers: | ||||
| Total revenue | $ 1,336,740 | $ 1,845,005 | $ 2,994,517 | $ 3,737,355 |
| X | ||||||||||
- Definition Amount of rent expense incurred for leased assets,including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
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- Definition Amount of transaction costs incurred during the period. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The difference between the book value and the sale price of options, swaps, futures, forward contracts, and other derivative instruments. This element refers to the gain (loss) included in earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of proven and unproven oil and gas properties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of general and administrative expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of depreciation, depletion, amortization, and accretion charged to expense in oil- and gas-producing activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of impairment for oil and gas properties charged to expense in oil- and gas-producing activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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