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Note 2 - Oil and Gas Leases
 12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
Operating Leases of Lessor Disclosure [Text Block]
Note 2.
Oil and Gas Leases
 
Results of oil and gas leasing activities for the year ending December 31, 2014 and 2013 are as follows:
 
   
2014
    
2013
  
Gross revenues
                
Royalty interests
   $ 1,366,281     $ 1,716,192  
Lease Fees
     117,499       91,128  
      1,483,780       1,807,320  
Production costs
     97,702       114,204  
Results before income tax expense
     1,386,078       1,693,116  
Estimated income tax expense (40%)
     554,431       677,246  
Results of operations from producing activities excluding corporate overhead
   $ 831,647     $ 1,015,870  
 
There were no major costs, with the exception of severance taxes, incurred in connection the Company's oil and gas leasing activities, which are located entirely within the United States, during the years ended December 31, 2014 and 2013.
 
Reserve quantities (unaudited):
 
Reserve information relating to estimated quantities of the Company's interest in proved reserves of natural gas and crude including condensate and natural gas liquids is not available. Such reserves are located entirely within the United States. A schedule indicating such reserve quantities is, therefore, not presented. All oil and gas royalties come from Company owned properties that were developed and produced by producers, unrelated to Company, under oil and gas mineral lease agreements.
 
 
 
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CKX Lands, Inc.
Notes to Financial Statements
 
Note 2.
Oil and Gas Leases (continued)
 
Company’s royalty and working interests share of oil and gas, exclusive of plant products, produced from leased properties:
 
   
2014
    
2013
  
                 
Net gas produced (MCF)
     46,457       42,117  
Net oil produced (Bbl)
     10,593       13,273