Note 4 - Long-Term Debt	3 Months Ended
Mar. 31, 2026
Notes to Financial Statements
Long-Term Debt [Text Block]	(4) Long-Term Debt: *Bank Debt:* On July 5, 2022, the Company and its lenders entered into a Fourth Amended and Restated Credit Agreement (the “2022 Credit Agreement”) with a maturity date of June 1, 2026. Under the 2022 Credit Agreement, the Company has a revolving line of credit and letter of credit facility of up to $300 million subject to a borrowing base that is determined semi-annually by lenders based upon the Company’s consolidated financial statements and the estimated value of the Company’s oil and gas properties, in accordance with the Lenders’ customary practices for oil and gas loans. The initial borrowing base of the agreement is $75 million. The credit facility is secured by substantially all of the Company’s oil and gas properties. The 2022 Credit Agreement includes terms and covenants that require the Company to maintain a minimum current ratio and total indebtedness to EBITDAX (earnings before depreciation, depletion, amortization, taxes, interest expense and exploration costs) ratio, as defined, and restrictions are placed on the payment of dividends, the amount of treasury stock the Company may purchase, and commodity hedge agreements. Through a series of amendments since origination the borrowing base determination was adjusted to be $115 million during June 2025. The prime rate in effect for December 2025, was 6.75%. Any borrowings the Company entered into would be subject to effective rates that are equal to the current prime rate plus a utilization percentage as required by the 2022 Credit Agreement. As of December 31, 2025, the Company had no outstanding borrowings and $115 million in availability under the credit facility. Effective February 24, 2026, the Company and its lenders entered into a Fifth Amendment to the 2022 Credit Agreement. All parties agreed to the reaffirmation of the borrowing base of $115 million and the agreed amount will remain in effect until the next schedule redetermination or the date the borrowing base is next adjusted in accordance with the credit agreement. The agreement also lowers the borrowing base utilization percentages and any term adjustment rates applied to SOFR or ABR loans as applicable. The prime rate in effect through March 2026, remained at 6.75%. Any borrowings the Company entered into would be subject to effective rates that are equal to the current prime rate plus a utilization percentage as required by the 2022 Credit Agreement and subsequent amendments. As of March 31, 2026, the Company had no outstanding borrowings and $115 million in availability under the credit facility. Currently, through the date of this reported filing, the Company has no outstanding borrowings and no changes in the amount available for the Company’s under the credit facility.

Note 4 - Long-Term Debt

3 Months Ended

Mar. 31, 2026

(4) Long-Term Debt:

Bank Debt:

On July 5, 2022, the Company and its lenders entered into a Fourth Amended and Restated Credit Agreement (the “2022 Credit Agreement”) with a maturity date of June 1, 2026. Under the 2022 Credit Agreement, the Company has a revolving line of credit and letter of credit facility of up to $300 million subject to a borrowing base that is determined semi-annually by lenders based upon the Company’s consolidated financial statements and the estimated value of the Company’s oil and gas properties, in accordance with the Lenders’ customary practices for oil and gas loans. The initial borrowing base of the agreement is $75 million. The credit facility is secured by substantially all of the Company’s oil and gas properties. The 2022 Credit Agreement includes terms and covenants that require the Company to maintain a minimum current ratio and total indebtedness to EBITDAX (earnings before depreciation, depletion, amortization, taxes, interest expense and exploration costs) ratio, as defined, and restrictions are placed on the payment of dividends, the amount of treasury stock the Company may purchase, and commodity hedge agreements.

Through a series of amendments since origination the borrowing base determination was adjusted to be $115 million during June 2025. The prime rate in effect for December 2025, was 6.75%. Any borrowings the Company entered into would be subject to effective rates that are equal to the current prime rate plus a utilization percentage as required by the 2022 Credit Agreement. As of December 31, 2025, the Company had no outstanding borrowings and $115 million in availability under the credit facility.

Effective February 24, 2026, the Company and its lenders entered into a Fifth Amendment to the 2022 Credit Agreement. All parties agreed to the reaffirmation of the borrowing base of $115 million and the agreed amount will remain in effect until the next schedule redetermination or the date the borrowing base is next adjusted in accordance with the credit agreement. The agreement also lowers the borrowing base utilization percentages and any term adjustment rates applied to SOFR or ABR loans as applicable.

The prime rate in effect through March 2026, remained at 6.75%. Any borrowings the Company entered into would be subject to effective rates that are equal to the current prime rate plus a utilization percentage as required by the 2022 Credit Agreement and subsequent amendments. As of March 31, 2026, the Company had no outstanding borrowings and $115 million in availability under the credit facility. Currently, through the date of this reported filing, the Company has no outstanding borrowings and no changes in the amount available for the Company’s under the credit facility.