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Note 6 - Oil and Gas Leases
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Lessor, Operating Leases [Text Block]
Note
6:
 
 
 
Oil and Gas Leases
 
Results of oil and gas leasing activities for the years ended
December 31, 2020
and
2019
are as follows:
 
   
2020
    
2019
  
Gross revenues
                
Royalty interests
   $
257,247
     $
500,426
  
Lease fees
    
5,882
      
22,901
  
     
263,129
      
523,327
  
Production costs
    
29,379
      
57,454
  
Results before income tax expense
    
233,750
      
465,873
  
Estimated income tax expense
    
67,788
      
135,103
  
Results of operations from producing activities excluding corporate overhead
   $
165,962
     $
330,770
  
 
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.
 
The Company's royalty and working interests share of oil and gas, exclusive of plant products, produced from leased properties were:
 
   
2020
    
2019
  
Net gas produced (MCF)
    
12,376
      
32,107
  
Net oil produced (Bbl)
    
5,043
      
6,272