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Note 4 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

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

		Nine Months Ended September 30,				Year Ended December 31,
		2024				2023
Identifiable Assets, net of accumulated depreciation
Timber		$	2,250,551			$	2,250,616
General corporate assets			16,474,478				16,562,790
Total			18,725,029				18,813,406
Capital expenditures:
Timber		$	-			$	20,737
Surface			-				-
General corporate assets			-				-
Total segment costs and expenses		$	-			$	20,737
Depreciation and depletion
Oil and gas		$	-			$	-
Timber			65				685
General corporate assets			3,196				4,261
Total		$	3,261			$	4,946

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Revenues:
Oil and gas		$	73,340			$	47,924			$	316,986			$	198,480
Timber sales			18,883				118,365				21,158				131,048
Surface revenue			79,046				92,742				1,002,406				465,645
Total segment revenues			171,269				259,031				1,340,550				795,173
Cost and expenses:
Oil and gas costs			12,958				7,043			$	36,189			$	26,271
Timber costs			6,885				842				15,706				4,805
Surface costs			240				-				240				225
Total segment costs and expenses			20,083				7,885				52,135				31,301
Net income (loss) from operations:
Oil and gas			60,382				40,881			$	280,797			$	172,209
Timber			11,998				117,523				5,452				126,243
Surface			78,806				92,742				1,002,166				465,420
Total segment net income from operations			151,186				251,146				1,288,415				763,872
Unallocated other expense before income taxes			(113,981	)			(203,504	)			(926,842	)			(895,444	)
Income (loss) before income taxes		$	37,205			$	47,642			$	361,573			$	(131,572	)

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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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