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Note 5 - Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

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

		Three Months Ended June 30,								Six Months Ended June 30,
		2020				2019				2020				2019
Revenues:
Oil and gas		$	67,929			$	143,036			$	182,979			$	233,932
Timber sales			3,747				-				11,635				14,481
Surface revenue			117,021				73,772				174,474				121,870
Total segment revenues			188,697				216,808				369,088				370,283
Cost and expenses:
Oil and gas costs			11,072				13,643				22,809				28,167
Timber costs			754				687				3,205				5,084
Surface costs			258				115				258				693
Total segment costs and expenses			12,084				14,445				26,272				33,944
Net income from operations:
Oil and gas			56,857				129,393				160,170				205,765
Timber			2,993				(687	)			8,430				9,397
Surface			116,763				73,657				174,216				121,177
Total segment net income from operations			176,613				202,363				342,816				336,339
Other income (expense) before income taxes			57,860				(174,501	)			(34,513	)			(192,593	)
Income before income taxes		$	234,473			$	27,862			$	308,303			$	143,746

		Six Months Ended June 30,				Year Ended December 31,
		2020				2019
Identifiable Assets, net of accumulated depreciation
Timber		$	2,188,409			$	2,188,594
General corporate assets			14,055,674				13,673,936
Total			16,244,083				15,862,530
Capital expenditures:
Timber			-				26,815
Surface			-				-
General corporate assets			-				-
Total segment costs and expenses			-				26,815
Depreciation and depletion
Oil and gas			-				-
Timber			184				611
General corporate assets			467				1,751
Total		$	651			$	2,362

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
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=121556970&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 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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