v3.26.3
Note 4 - Commodities Derivatives (Tables)
3 Months Ended
Mar. 31, 2026
Notes Tables  
Schedule of Derivative Instruments [Table Text Block]

​

​

Price collars

​

Period

​

Volume
(Bbls/month)

​

​

Weighted
average
floor price
($/Bbl)

​

​

Weighted
average
ceiling price
($/Bbl)

​

​

Weighted
average
sold call
($/Bbl)

​

Q1-Q4 2027

​

​

2,833

​

​

$

60.00

​

​

$

63.02

​

​

$

63.02

​

Commodity Swaps

​

​

​

​

​

​

​

Weighted

​

​

​

Volume

​

​

Average

​

Period

​

(Bbls/month)

​

​

price ($/Bbl)

​

Q2 2026

​

​

3,500

​

​

$

63.96

​

Q3-Q4 2026

​

​

2,500

​

​

$

61.71

​

Q1-Q4 2027

​

​

3,222

​

​

$

63.03

​

Commodity Swaps

​

​

​

​

​

​

​

Weighted

​

​

​

Volume

​

​

Average

​

Period

​

(Bbls/month)

​

​

price ($/Bbl)

​

Q1 2026

​

​

2,000

​

​

$

62.50

​

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

​

​

As of March 31, 2026

​

​

​

Gross fair
value

​

​

Amounts
netted

​

​

Net fair
value

​

Commodity derivatives:

​

​

​

​

​

​

​

​

​

​

​

​

Short-term derivative asset

​

$

23,587

​

​

$

(23,587

)

​

$

-

​

Long-term derivative asset

​

​

218,058

​

​

​

(218,058

​)

​

​

-

​

Short-term derivative liability

​

​

(2,707,066

)

​

​

23,587

​

​

​

(2,683,479

)

Long-term derivative liability

​

​

(744,696

)

​

​

218,058

​

​

​

(526,638

)

Total derivative liability

​

​

​

​

​

​

​

​

​

$

(3,210,117

)

​

​

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

​

Derivative Instruments, Gain (Loss) [Table Text Block]

​

​

Three
Months
Ended
March 31,
2026

​

​

Three
Months
Ended
March 31,
2025

​

Total gain (loss) on unsettled derivatives

​

$

(3,273,451

​)

​

$

57,788

​

Total gain (loss) on settled derivatives

​

​

(306,024

)

​

​

(142,859

)

Net gain (loss) on derivatives

​

$

(3,579,475

)

​

$

(85,071

)