XML 77 R66.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Operating Segments - Segments (Details)
3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
segment
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Segment information          
Total operating revenue $ 7,307,818 $ 6,500,136 $ 15,294,561 $ 15,856,412  
Operating costs 4,091,638 5,237,700 8,293,262 9,496,841  
Depletion, depreciation, amortization, and accretion 2,048,403 1,615,728 4,428,829 3,388,734  
Operating income 1,167,777 (353,292) 2,572,470 2,970,837  
Interest income 108,943 433,201 375,215 923,963  
Interest expense (8,759) (34,422) (17,519) (62,859)  
(Loss) gain on derivative contracts (94,891) 628,178 (195,617) 1,696,838  
Other income (expense), net 101,606 3,066 101,073 4,701  
Other income, net 106,899 1,030,023 263,152 2,562,643  
Net income (loss) before income tax expense 1,274,676 676,731 2,835,622 5,533,480  
Current assets, net 15,877,407 44,053,398 15,877,407 44,053,398  
Proved properties 67,634,185 42,017,615 67,634,185 42,017,615  
Unproved properties 28,498,028 25,989,679 28,498,028 25,989,679 $ 25,504,873
Gathering system 6,896,509 7,646,776 6,896,509 7,646,776 7,198,277
Other property and equipment 1,846,035 950,594 1,846,035 950,594  
Operating lease right-of-use asset 392,792 495,842 392,792 495,842 $ 441,987
Segment assets 121,144,956 121,153,904 121,144,956 121,153,904  
Capital expenditures 4,788,315 12,463,199 28,076,197 13,629,968  
Corporate          
Segment information          
Total operating revenue 0 0 0 0  
Operating costs 1,791,804 1,776,374 3,672,396 3,979,865  
Depletion, depreciation, amortization, and accretion 0 0 0 0  
Operating income (1,791,804) (1,776,374) (3,672,396) (3,979,865)  
Interest income 108,943 433,201 375,215 923,963  
Interest expense 0 0 0 0  
(Loss) gain on derivative contracts 0 0 0 0  
Other income (expense), net 0 4 (570) 987  
Other income, net 108,943 433,205 374,645 924,950  
Net income (loss) before income tax expense (1,682,861) (1,343,169) (3,297,751) (3,054,915)  
Current assets, net 15,877,407 44,053,398 15,877,407 44,053,398  
Proved properties 0 0 0 0  
Unproved properties 0 0 0 0  
Gathering system 0 0 0 0  
Other property and equipment 0 0 0 0  
Operating lease right-of-use asset 392,792 495,842 392,792 495,842  
Segment assets 16,270,199 44,549,240 16,270,199 44,549,240  
Capital expenditures 1,036,271 0 1,044,317 0  
Elimination          
Segment information          
Total operating revenue (277,509) (376,050) (591,907) (739,858)  
Operating costs (277,509) (376,050) (591,907) (739,858)  
Depletion, depreciation, amortization, and accretion 0 0 0 0  
Operating income 0 0 0 0  
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
(Loss) gain on derivative contracts 0 0 0 0  
Other income (expense), net 0 0 0 0  
Other income, net 0 0 0 0  
Net income (loss) before income tax expense 0 0 0 0  
Current assets, net 0 0 0 0  
Proved properties 0 0 0 0  
Unproved properties 0 0 0 0  
Gathering system 0 0 0 0  
Other property and equipment 0 0 0 0  
Operating lease right-of-use asset 0 0 0 0  
Segment assets 0 0 0 0  
Capital expenditures 0 0 0 0  
Natural Gas [Member]          
Segment information          
Total operating revenue 1,961,230 3,006,695 4,924,209 9,262,873  
Natural Gas [Member] | Corporate          
Segment information          
Total operating revenue 0 0 0 0  
Natural Gas [Member] | Elimination          
Segment information          
Total operating revenue 0 0 0 0  
Natural gas liquids          
Segment information          
Total operating revenue 388,423 244,988 761,407 441,283  
Natural gas liquids | Corporate          
Segment information          
Total operating revenue 0 0 0 0  
Natural gas liquids | Elimination          
Segment information          
Total operating revenue 0 0 0 0  
Oil and condensate          
Segment information          
Total operating revenue 3,513,717 1,046,389 6,228,799 1,563,497  
Oil and condensate | Corporate          
Segment information          
Total operating revenue 0 0 0 0  
Oil and condensate | Elimination          
Segment information          
Total operating revenue 0 0 0 0  
Gathering and Compression fees          
Segment information          
Total operating revenue 1,444,448 2,202,064 3,380,146 4,588,759  
Gathering and Compression fees | Corporate          
Segment information          
Total operating revenue 0 0 0 0  
Gathering and Compression fees | Elimination          
Segment information          
Total operating revenue (277,509) (376,050) (591,907) (739,858)  
Upstream | Operating Segments          
Segment information          
Total operating revenue 5,863,370 4,298,072 11,914,415 11,267,653  
Operating costs 1,927,376 3,266,442 4,010,236 5,034,529  
Depletion, depreciation, amortization, and accretion 1,877,611 1,365,603 4,007,320 2,859,358  
Operating income 2,058,383 (333,973) 3,896,859 3,373,766  
Interest income 0 0 0 0  
Interest expense (8,759) (34,422) (17,519) (62,859)  
(Loss) gain on derivative contracts (94,891) 628,178 (195,617) 1,696,838  
Other income (expense), net 101,606 3,062 101,643 3,714  
Other income, net (2,044) 596,818 (111,493) 1,637,693  
Net income (loss) before income tax expense 2,056,339 262,845 3,785,366 5,011,459  
Current assets, net 0 0 0 0  
Proved properties 67,634,185 42,017,615 67,634,185 42,017,615  
Unproved properties 28,498,028 25,989,679 28,498,028 25,989,679  
Gathering system 0 0 0 0  
Other property and equipment 1,846,035 950,594 1,846,035 950,594  
Operating lease right-of-use asset 0 0 0 0  
Segment assets 97,978,248 68,957,888 97,978,248 68,957,888  
Capital expenditures 3,654,972 12,450,319 26,915,782 13,595,464  
Upstream | Natural Gas [Member] | Operating Segments          
Segment information          
Total operating revenue 1,961,230 3,006,695 4,924,209 9,262,873  
Upstream | Natural gas liquids | Operating Segments          
Segment information          
Total operating revenue 388,423 244,988 761,407 441,283  
Upstream | Oil and condensate | Operating Segments          
Segment information          
Total operating revenue 3,513,717 1,046,389 6,228,799 1,563,497  
Upstream | Gathering and Compression fees | Operating Segments          
Segment information          
Total operating revenue 0 0 $ 0 0  
Gas Gathering | Operating Segments          
Operating Segments          
Number of companies partnered to operate natural gas gathering system | segment     2    
Segment information          
Total operating revenue 1,721,957 2,578,114 $ 3,972,053 5,328,617  
Operating costs 649,967 570,934 1,202,537 1,222,305  
Depletion, depreciation, amortization, and accretion 170,792 250,125 421,509 529,376  
Operating income 901,198 1,757,055 2,348,007 3,576,936  
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
(Loss) gain on derivative contracts 0 0 0 0  
Other income (expense), net 0 0 0 0  
Other income, net 0 0 0 0  
Net income (loss) before income tax expense 901,198 1,757,055 2,348,007 3,576,936  
Current assets, net 0 0 0 0  
Proved properties 0 0 0 0  
Unproved properties 0 0 0 0  
Gathering system 6,896,509 7,646,776 6,896,509 7,646,776  
Other property and equipment 0 0 0 0  
Operating lease right-of-use asset 0 0 0 0  
Segment assets 6,896,509 7,646,776 6,896,509 7,646,776  
Capital expenditures 97,072 12,880 116,098 34,504  
Gas Gathering | Natural Gas [Member] | Operating Segments          
Segment information          
Total operating revenue 0 0 0 0  
Gas Gathering | Natural gas liquids | Operating Segments          
Segment information          
Total operating revenue 0 0 0 0  
Gas Gathering | Oil and condensate | Operating Segments          
Segment information          
Total operating revenue 0 0 0 0  
Gas Gathering | Gathering and Compression fees | Operating Segments          
Segment information          
Total operating revenue $ 1,721,957 $ 2,578,114 $ 3,972,053 $ 5,328,617