v3.26.3
Commodity Derivatives (Tables)
12 Months Ended
Dec. 31, 2025
Commodity Derivatives [Abstract]  
Schedule of Weighted-Average Price of Open Commodity Swap Contracts

The following table reflects the weighted-average price of open commodity swap contracts as of December 31, 2025:

 

Commodity Swaps
         Weighted 
    Volume    average 
Period   (Bbls/month)    price ($/Bbl) 
Q1 2026   2,000   $62.50 

 

The following table reflects the weighted-average price of open commodity swap contracts as of December 31, 2024:

 

Commodity Swaps
         Weighted 
    Volume    average 
Period   (Bbls/month)    price ($/Bbl) 
Q1-Q2 2025   5,000   $70.21 
Q3-Q4 2025   5,000   $70.21 
Schedule of Derivatives Included in the Accompanying Consolidated Balance Sheets The combined fair value of derivatives included in the accompanying consolidated balance sheets as of December 31, 2025 and 2024 is summarized below.
   As of December 31, 2025 
   Gross fair
value
   Amounts
netted
   Net fair
value
 
Commodity derivatives:            
Short-term derivative asset  $63,334   $
       -
   $63,334 
Long-term derivative asset   
-
    
-
    
-
 
Short-term derivative liability   
-
    
-
    
-
 
Long-term derivative liability   
-
    
-
    
-
 
Total derivative asset            $63,334 

 

   As of December 31, 2024 
   Gross fair value   Amounts netted   Net fair value 
Commodity derivatives:            
Short-term derivative asset  $151,303   $(44,906)  $106,397 
Long-term derivative asset   
—
    
—
    
—
 
Short-term derivative liability   (44,906)   44,906   
—
 
Long-term derivative liability   
—
    
—
    
—
 
Total derivative asset            $106,397 
Schedule of Derivatives on the Consolidated Statements of Operations

The effects of the Company’s derivatives on the consolidated statements of operations are summarized below:

 

   For the
Year ended
December 31,
2025
   For the
Year ended
December 31,
2024
 
     
Total gain (loss) on unsettled derivatives  $(43,063)  $(361,290)
Total gain (loss) on settled derivatives   706,073    (489,084)
Net gain (loss) on derivatives  $663,010   $(850,374)