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Note 4 - Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

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

		Three Months Ended March 31,
		2021				2020
Revenues:
Oil and gas		$	50,145			$	115,050
Timber sales			53,527				7,888
Surface revenue			51,204				57,453
Total segment revenues			154,876				180,391
Cost and expenses:
Oil and gas costs			8,221				11,737
Timber costs			958				2,451
Surface costs			-				-
Total segment costs and expenses			9,179				14,188
Net income from operations:
Oil and gas			41,924				103,313
Timber			52,569				5,437
Surface			51,204				57,453
Total segment net income from operations			145,697				166,203
Unallocated other income (expense) before income taxes			307,296				(92,373	)
Income before income taxes		$	452,993			$	73,830

		Three Months Ended				Year Ended
		March 31,				December 31,
		2021				2020
Identifiable Assets, net of accumulated depreciation
Timber		$	2,210,979			$	2,196,942
General corporate assets			14,485,521				14,119,755
Total			16,696,499				16,316,697
Capital expenditures:
Timber			14,114				9,321
Surface			-				-
General corporate assets			-				-
Total segment costs and expenses		$	14,114			$	9,321
Depreciation and depletion
Oil and gas			-				-
Timber			77				974
General corporate assets			507				2,303
Total		$	584			$	3,277

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
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-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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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

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