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Note 5 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

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

		Three Months Ended September 30,								Nine Months Ended September 30,
		2020				2019				2020				2019
Revenues:
Oil and gas		$	50,811			$	174,097			$	233,789			$	408,029
Timber sales			59,416				16,717				71,052				31,198
Surface revenue			50,615				37,523				225,089				159,393
Total segment revenues			160,842				228,337				529,930				598,620
Cost and expenses:
Oil and gas costs			5,226				20,196				28,034				48,364
Timber costs			666				9,292				3,870				14,376
Surface costs			198				581				456				1,274
Total segment costs and expenses			6,090				30,069				32,360				64,014
Net income from operations:
Oil and gas			45,585				153,901				205,755				359,665
Timber			58,750				7,425				67,182				16,822
Surface			50,417				36,942				224,633				158,119
Total segment net income from operations			154,752				198,268				497,570				534,606
Other income (expense) before income taxes			(74,507	)			(115,193	)			(109,022	)			(307,785	)
Income before income taxes		$	80,245			$	83,075			$	388,548			$	226,821

		Nine Months Ended September 30,				Year Ended December 31,
		2020				2019
Identifiable Assets, net of accumulated depreciation
Timber		$	2,187,911			$	2,188,594
General corporate assets			14,133,962				13,673,936
Total			16,321,873				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			683				611
General corporate assets			1,793				1,751
Total		$	2,476			$	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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