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Commodity Risk Management Activities (Tables)

12 Months Ended

Dec. 31, 2022

Commodity Risk Management Activities

Schedule of fair value of derivatives

​

​	​	​	​	​	​	​
​	​	Fair Value of Derivative  Assets
​		December 31,			December 31,
​	​	2022		​	2021
Current		​			​
NYMEX Henry Hub swap		$	1,219,865	​	$	—
Tennessee Z4 basis swap		​	181,775	​	​	—
Two-way costless collar		​	—	​	​	13,312
​		$	1,401,640	​	$	13,312

​

​	​	​	​	​	​	​
​	​	Fair Value of Derivative  Liabilities
​		December 31,			December 31,
​	​	2022		​	2021
Current		​			​
Tennessee Z4 basis swap		$	(179,550)	​	$	—
Two-way costless collar		​	—	​	​	(253,136)
​		$	(179,550)	​	$	(253,136)
​	​	​	​	​	​	​
​	​	​	​	​	​	​
Net Fair Value of Derivatives		$	1,222,090	​	$	(239,824)

​

Schedule of fair value of derivatives rollforward

​

​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2022			2021
Fair value of asset (liability), beginning of the period	​	$	(239,824)	​	$	—
Gains (losses) on derivative contracts included in earnings	​		236,077	​		(4,482,909)
Settlement of commodity derivative contracts	​		1,225,837	​		4,243,085
Fair value of asset (liability), end of the period	​	$	1,222,090	​	$	(239,824)

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- References

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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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