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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Major components of tax expense (income) [abstract] |
SCHEDULE OF INCOME TAX BENEFIT | The Company’s income tax (benefit) provision consisted of the following components (in thousands): SCHEDULE OF INCOME TAX BENEFIT
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State |  | $ | 374 |  |  |  | - |
Current |  |  | 374 |  |  |  | - |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 5,597 |  |  |  | 1,967 |
State |  |  | (107 | ) |  |  | 1,392 |
Deferred |  |  | 5,490 |  |  |  | 3,359 |
Total |  |  | 5,864 |  |  |  | 3,359 |
SCHEDULE OF INCOME TAX RATES TO THE NET LOSS BEFORE TAX PROVISION | The provision for income taxes reported differs from the amounts computed by applying the cumulative US federal and state income tax rates to the net loss before tax provision due to the following: SCHEDULE OF INCOME TAX RATES TO THE NET LOSS BEFORE TAX PROVISION
|  | 2024 |  |  | 2023 |
Net income |  | $ | 23,979 |  |  | $ | 22,639 |
Statutory tax rate |  |  | 25.91 | % |  |  | 26.43 | %
Net income After Tax |  |  | 6,213 |  |  |  | 5,983 |
Add (deduct): |  |  |  |  |  |  |  |
Return to provision |  |  | (1 | ) |  |  | (122 | )
Depletion |  |  | (293 | ) |  |  | (352 | )
Prior period state deferred adjustments |  |  | 429 |  |  |  | 1,051 |
Change in unrecognized tax benefit |  |  | 140 |  |  |  | (3,229 | )
Change in enacted tax rate |  |  | (711 | ) |  |  | - |
Other |  |  | 87 |  |  |  | 28 |
Income tax expense |  | $ | 5,864 |  |  | $ | 3,359 |
SCHEDULE OF DEFERRED TAX LIABILITIES AND ASSETS | Deferred tax liabilities and assets are attributable to the following: SCHEDULE OF DEFERRED TAX LIABILITIES AND ASSETS
|  | 2024 |  |  | 2023 |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  | $ | (39,172 | ) |  | $ | (37,118 | )
Commodity contracts |  |  | (189 | ) |  |  | (103 | )
Leases |  |  | - |  |  |  | (18 | )
Deferred tax assets: |  |  |  |  |  |  |  |
Stock based compensation |  |  | 835 |  |  |  | 377 |
Asset retirement obligations |  |  | 461 |  |  |  | 425 |
Other |  |  | 15 |  |  |  | - |
Loss carry-forward |  |  | 29,349 |  |  |  | 33,078 |
Deferred tax assets and liabilities |  | $ | (8,701 | ) |  | $ | (3,359 | )
SCHEDULE OF UNRECOGNIZED DEFERRED TAX ASSETS | Deferred tax assets have not been recognized for the following deductible temporary differences: SCHEDULE OF UNRECOGNIZED DEFERRED TAX ASSETS
|  | 2024 |  |  | 2023 |
Property, plant and equipment |  | $ | 407 |  |  | $ | 441 |
Loss carry-forward |  |  | 20,946 |  |  |  | 22,014 |
Capital losses |  |  | 10,141 |  |  |  | 10,976 |
Unrecognized deferred tax assets |  | $ | 31,494 |  |  | $ | 33,431 |

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