v3.26.3
Note 4 - Hedging Derivatives (Tables)
6 Months Ended
Jun. 30, 2026
Notes Tables  
Schedule of Derivative Instruments [Table Text Block]

Commodity Swaps

​

​

​

​

​

​

​

Weighted

​

​

​

Volume

​

​

Average

​

Period

​

(Bbls/month)

​

​

price ($/Bbl)

​

Q3 2026

​

​

15,000

​

​

$

61.90

​

Q4 2026

​

​

15,000

​

​

$

61.53

​

Q1-Q4 2027

​

​

15,000

​

​

$

63.87

​

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 June 30, 2026

​

​

​

Gross fair
value

​

​

Amounts
netted

​

​

Net fair
value

​

Commodity derivatives:

​

​

​

​

​

​

​

​

​

​

​

​

Short-term derivative asset

​

$

154,654

​

​

$

(154,654

)

​

$

-

​

Long-term derivative asset

 

 

194,775

 

 

 

(194,775

)

 

 

-

 

Short-term derivative liability

​

​

(1,127,659

)​

​

​

189,374

 

​

​

(938,285

)

Long-term derivative liability

​

​

(272,960

)

​

​

160,055

​

​

​

(112,905

)

Total derivative liability

​

​

(1,051,190

)

​

​

-

​

​

$

(1,051,190

)

​

​

As of December 31, 2025

​

​

​

Gross fair

value

​

​

Amounts

netted

​

​

Net fair

value

​

Commodity derivatives:

​

​

​

​

​

​

​

​

​

​

​

​

Short-term derivative asset

​

$

63,334

​

​

$

-

​

​

$

63,334

​

Total derivative asset

​

​

​

​

​

​

​

​

​

$

63,334

​

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

​

​

3 Months Ended June 30

​

​

6 Months Ended June 30

​

​

​

2026

​

​

2025

​

​

2026

​

​

2025

​

Total gain (loss) on unsettled derivatives

​

$

2,158,927

​

​

$

510,129

​

​

$

(1,114,524

)

​

$

567,917

​

Total gain (loss) on settled derivatives

​

​

(1,210,926

)

​

​

379,350

​

​

​

(1,516,950

)

​

​

236,491

​

Net gain (loss) on derivatives

​

$

948,001

​

​

$

889,479

​

​

$

(2,631,474

)

​

$

804,408

​