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Note 6 - Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2019				2018				2019				2018
Revenues:
Oil and gas		$	143,036			$	160,731			$	233,932			$	281,768
Timber sales			-				176,559				14,481				355,008
Surface revenue			73,772				56,743				121,870				103,952
Total segment revenues			216,808				394,033				370,283				740,728
Cost and expenses:
Oil and gas costs			13,643				13,287				28,167				29,943
Timber costs			687				14,784				5,084				35,378
Surface costs			115				7,513				693				14,503
Total segment costs and expenses			14,445				35,584				33,944				79,824
Income from operations:
Oil and gas			129,393				147,444				205,765				251,825
Timber			(687	)			161,775				9,397				319,630
Surface			73,657				49,230				121,177				89,449
Total segment income from operations			202,363				358,449				336,339				660,904
Other income (expense) before income taxes			(174,501	)			(117,694	)			(192,593	)			640,754
Income before income taxes		$	27,862			$	240,755			$	143,746			$	1,301,658

		Six Months Ended				Year Ended
		June 30,				December 31,
		2019				2018
Identifiable Assets, net of accumulated depreciation
Timber		$	2,180,251			$	2,162,390
General corporate assets			13,525,438				13,439,611
Total			15,705,689				15,602,001
Capital expenditures:
Timber			17,970				45,067
Surface			-				4,900
General corporate assets			-				5,471
Total segment costs and expenses			17,970				55,438
Depreciation and depletion
Oil and gas			-				-
Timber			109				1,858
General corporate assets			1,011				2,027
Total		$	1,120			$	3,885

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599

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- References

No definition available.

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