XML 34 R16.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Note 9 - Segment Information and Major Customers
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

9. Segment Information and Major Customers

 

The Company operates in one industry – oil and gas exploration, development, operation and servicing. The Company’s oil and gas activities are entirely in the United States. The Company sells its oil and natural gas and liquids production to a number of direct purcchasers under direct contracts or through other operators under joint operating agreements. Listed below are the purchasers of the Company’s production which represented more than 10% of the Company’s sales for the years ended 2023 and 2022.

 

   

2023

    

2022

 

Oil:

                

APA Corporation

     22 %     55 %

Civitas Resources Inc.

     20 %     -- %

Plains All American Inc.

     19 %     16 %

DE IV Operating, LLC.

     14 %     -- %
                 

Natural gas and liquids:

                

APA Corporation

     17 %     58 %

Civitas Resources Inc.

     10 %     -- %

Targa Pipeline Mid-Continent West Tex, LLC

     -- %     11 %

 

Although there are no long-term oil and gas purchasing agreements with these purchasers, the Company believes that they will continue to purchase its oil and gas products and, if not, could be replaced by other purchasers.