v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 7,862,896 $ 5,567,495
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation, amortization, and accretion 5,806,446 6,677,511
Impairment expense 0 2,676,669
Amortization on deferred financing costs 100,593 0
Gain on sale of oil and gas properties (4,174,368) 0
(Gain) loss on derivative contracts 6,684,358 (1,111,693)
Settlement received on derivative contracts (2,778,616) (108,383)
Settlement of asset retirement obligation 0 (1,600)
Stock-based compensation expense 1,095,054 771,676
Deferred income tax (benefit) expense 2,672,093 (779,676)
Changes in assets and liabilities, net of assets and liabilities acquired in business combination:    
Accounts receivable (1,343,944) 346,839
Prepaid income taxes (45,671) 0
Other assets and liabilities 292,394 385,445
Accounts payable, royalties payable, gathering fees payable, and other accrued liabilities 6,189,202 (66,454)
Income taxes payable 0 2,572,921
Net cash provided by operating activities 22,360,437 16,930,750
Cash flows from investing activities:    
Additions to unproved oil and gas properties (1,416,572) (5,132,649)
Additions to proved oil and gas properties (8,803,428) (5,997,993)
Deductions (additions) to gathering system properties 100,952 (228,327)
Additions to land, buildings and property and equipment (11,446) (12,102)
Proceeds from sale of oil and gas properties 4,174,368 0
Prepaid drilling costs (415,583) 705,165
Net cash used in investing activities (6,371,709) (10,665,906)
Cash flows from financing activities:    
Payment on credit facility (10,000,000) 0
Dividends paid (3,774,910) (2,751,372)
Net cash provided by (used in) financing activities (13,774,910) (2,751,372)
Effect of currency rates on cash, cash equivalents, and restricted cash (4,351) (125,612)
Increase (decrease) in cash, cash equivalents, and restricted cash 2,209,467 3,387,860
Cash, cash equivalents, and restricted cash, beginning of period 9,512,954 6,989,793
Cash, cash equivalents, and restricted cash, end of period 11,722,421 10,377,653
Supplemental cash flow disclosures:    
US Federal 0 1,325,000
Interest paid 1,722,335 9,552
Non-cash investing activities:    
Change in proved properties accrued in accounts payable 3,260,493 (690,866)
Change in gathering system accrued in accounts payable (10,648) 71,366
Asset retirement obligation asset additions and adjustments 6,961 18,235
Pennsylvania    
Supplemental cash flow disclosures:    
State 10,933 355,138
State, Other    
Supplemental cash flow disclosures:    
State $ 50,025 $ 1,710