Note 3 - Oil and Gas Properties |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Oil and Gas, Property and Equipment [Text Block] |
NOTE 3 — OIL AND GAS PROPERTIES
Net capitalized costs related to the Company’s oil and gas producing activities at June 30, 2026 and December 31, 2025 are as follows:
The Company recognized depreciation, depletion, and amortization expense totaling $2,136,209 and $458,190 for three months ended June 30, 2026 and 2025, respectively, and $3,927,185 and $555,265 for the six months ended June 30, 2026 and 2025, respectively.
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