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Commodity Risk Management Activities (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivatives

​

​	​	​	​	​	​	​
​	​	Fair Value of Derivative  Assets
​		June 30,			December 31,
​	​	2024		​	2023
Current		​			​
NYMEX Henry Hub swap		$	506,942	​	$	1,353,667
Tennessee Z4 basis swap		​	83,169	​	​	112,719
​		$	590,111	​	$	1,466,386

​

​	​	​	​	​	​	​
​	​	Fair Value of Derivative  Liabilities
​		June 30,			December 31,
​	​	2024		​	2023
Current		​			​
NYMEX Henry Hub swap		$	(114,715)	​	$	—
Tennessee Z4 Basis swap		​	(141,937)	​	​	(366,131)
Crude Oil NYMEX WTI CMA		​	(189,363)	​	​	—
​		$	(446,015)	​	$	(366,131)
​	​	​	​	​	​	​
Net Fair Value of Derivatives		$	144,096	​	$	1,100,255

Schedule of fair value of derivatives rollforward

The following table presents the changes in the fair value of Epsilon’s commodity derivatives for the periods indicated:

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three months ended June 30,					​	Six months ended June 30,
​		2024			2023			2024			2023
Fair value of asset (liability), beginning of the period	​	$	511,244	​	$	1,927,450	​	$	1,100,255	​	$	1,222,090
Gains on derivative contracts included in earnings	​		(94,891)	​		628,178	​		(195,617)	​		1,696,838
Settlement of commodity derivative contracts	​		(272,257)	​		(1,269,558)	​		(760,542)	​		(1,632,858)
Fair value of asset, end of the period	​	$	144,096	​	$	1,286,070	​	$	144,096	​	$	1,286,070

​

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- References

No definition available.

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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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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