$RSRV
RESERVE PETROLEUM CO Stock $rsrv

$rsrv Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000008335024000005 Filed on March 28, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$3.012M	$4.156M	$13.38M
YoY Change	-2.84%	-5.41%	-17.28%
Cost Of Revenue	$1.345M	$1.607M	$5.456M
YoY Change	27.25%	10.4%	49.89%
Gross Profit	$2.282M	$2.549M	$7.920M
YoY Change	11.72%	-13.25%	-36.79%
Gross Profit Margin	75.79%	61.33%	59.21%
Selling, General & Admin	$674.1K	$713.0K	$2.607M
YoY Change	13.22%	4.62%	25.18%
% of Gross Profit	29.54%	27.97%	32.91%
Research & Development	$159.2K	$29.10K	$708.8K
YoY Change	-57.47%	-85.17%	49.3%
% of Gross Profit	6.98%	1.14%	8.95%
Depreciation & Amortization	$18.97K	$1.703M	$3.502M
YoY Change	-98.01%	-9.56%	25.0%
% of Gross Profit	0.83%	66.83%	44.22%
Operating Expenses	$1.343M	$2.446M	$6.818M
YoY Change	-30.18%	-12.47%	26.45%
Operating Profit	$939.9K	$103.3K	$1.102M
YoY Change	-2127.74%	-28.35%	-82.86%
Interest Expense	$16.79K	$151.4K	$1.018M
YoY Change	-0.97%	-59.66%	2847.95%
% of Operating Profit	1.79%	146.58%	92.35%
Other Income/Expense, Net	$219.6K	-$21.12K	-$7.190K
YoY Change	-61.39%	-31.07%	-99.39%
Pretax Income	$1.166M	-$2.140M	-$260.9K
YoY Change	117.1%	-538.28%	-105.17%
Income Tax	$439.7K	-$549.6K	-$171.4K
% Of Pretax Income	37.7%
Net Earnings	$726.5K	-$1.580M	-$55.65K
YoY Change	76.06%	-444.98%	-101.39%
Net Earnings / Revenue	24.12%	-38.03%	-0.42%
Basic Earnings Per Share	$4.75		-$0.36
Diluted Earnings Per Share	$4.75	-$10.16	-$0.36
COMMON SHARES
Basic Shares Outstanding	155.1K shares	155.9K shares	155.9K shares
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$8.577M	$10.10M	$10.10M
YoY Change	-28.77%	-12.2%	-26.84%
Cash & Equivalents	$5.813M	$5.218M	$5.218M
Short-Term Investments	$2.764M	$4.885M	$4.885M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$2.185M	$2.367M	$2.367M
Other Receivables	$614.0K	$317.8K	$317.8K
Total Short-Term Assets	$11.38M	$12.79M	$12.79M
YoY Change	-31.5%	-21.3%	-21.3%
LONG-TERM ASSETS
Property, Plant & Equipment	$18.31M	$15.45M	$15.45M
YoY Change	22.74%	3.52%	3.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$2.811M	$8.151M	$8.151M
YoY Change	-0.16%	230.06%	7.89%
Other Assets
YoY Change
Total Long-Term Assets	$26.67M	$23.60M	$23.60M
YoY Change	18.46%	4.99%	4.99%
TOTAL ASSETS
Total Short-Term Assets	$11.38M	$12.79M	$12.79M
Total Long-Term Assets	$26.67M	$23.60M	$23.60M
Total Assets	$38.05M	$36.39M	$36.39M
YoY Change	-2.75%	-6.04%	-6.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.182M	$537.8K	$537.8K
YoY Change	263.43%	34.54%	34.54%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$143.7K	$142.1K	$142.1K
YoY Change	4.23%	4.03%	4.03%
Total Short-Term Liabilities	$1.385M	$692.8K	$692.8K
YoY Change	188.19%	13.19%	13.19%
LONG-TERM LIABILITIES
Long-Term Debt	$1.122M	$1.159M	$1.159M
YoY Change	-11.35%	-10.93%	-10.93%
Other Long-Term Liabilities	$2.220M	$2.566M	$2.566M
YoY Change	-21.32%	-8.65%	-8.65%
Total Long-Term Liabilities	$5.309M	$3.725M	$3.725M
YoY Change	-8.93%	-34.99%	-9.37%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.385M	$692.8K	$692.8K
Total Long-Term Liabilities	$5.309M	$3.725M	$3.725M
Total Liabilities	$6.693M	$5.838M	$5.838M
YoY Change	6.09%	-7.94%	-10.06%
SHAREHOLDERS EQUITY
Retained Earnings	$32.95M	$32.21M
YoY Change	-3.77%	-4.78%
Common Stock	$157.4K	$157.4K
YoY Change	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$31.16M	$30.55M	$30.55M
YoY Change
Total Liabilities & Shareholders Equity	$38.05M	$36.39M	$36.39M
YoY Change	-2.75%	-6.04%	-6.04%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	$726.5K	-$1.580M	-$55.65K
YoY Change	76.06%	-444.98%	-101.39%
Depreciation, Depletion And Amortization	$18.97K	$1.703M	$3.502M
YoY Change	-98.01%	-9.56%	25.0%
Cash From Operating Activities	$1.604M	$2.454M	$5.593M
YoY Change	6.68%	22.73%	-36.8%
INVESTING ACTIVITIES
Capital Expenditures	-$5.279M	$4.451M
YoY Change	-722.83%	410.4%
Acquisitions
YoY Change
Other Investing Activities	-$140.9K	$2.613M
YoY Change	-88.91%	129.1%
Cash From Investing Activities	-$852.2K	-$1.838M	-$5.991M
YoY Change	-59.76%	-784.93%	-40.7%
FINANCING ACTIVITIES
Cash Dividend Paid			$1.561M
YoY Change			-0.06%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$157.3K	-26.55K	-$1.683M
YoY Change	1089.95%	90.73%	6.67%
NET CHANGE
Cash From Operating Activities	$1.604M	2.454M	$5.593M
Cash From Investing Activities	-$852.2K	-1.838M	-$5.991M
Cash From Financing Activities	-$157.3K	-26.55K	-$1.683M
Net Change In Cash	$594.6K	589.6K	-$2.081M
YoY Change	-194.79%	-73.84%	-26.47%
FREE CASH FLOW
Cash From Operating Activities	$1.604M	$2.454M	$5.593M
Capital Expenditures	-$5.279M	$4.451M
Free Cash Flow	$6.884M	-$1.996M
YoY Change	949.13%	-277.04%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023	dei	Entity Central Index Key EntityCentralIndexKey	0000083350
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2023	dei	Amendment Flag AmendmentFlag	false
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	6801 BROADWAY EXT.
CY2023	dei	Entity Address Address Line2 EntityAddressAddressLine2	SUITE 300
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	OKLAHOMA CITY
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	OK
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	73116-9037
CY2023	dei	City Area Code CityAreaCode	405
CY2023	dei	Local Phone Number LocalPhoneNumber	848-7551
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	000-08157
CY2023	dei	Entity Registrant Name EntityRegistrantName	RESERVE PETROLEUM CO
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	73-0237060
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	6801 BROADWAY EXT.
CY2023	dei	Entity Address Address Line2 EntityAddressAddressLine2	SUITE 300
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	OKLAHOMA CITY
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	OK
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	73116-9037
CY2023	dei	City Area Code CityAreaCode	405
CY2023	dei	Local Phone Number LocalPhoneNumber	848-7551
CY2023	dei	Security12g Title Security12gTitle	COMMON STOCK ($0.50 PAR VALUE)
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Public Float EntityPublicFloat	17532259	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	612047	usd
CY2024Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	155108	shares
CY2023	dei	Auditor Firm AuditorFirmId	483
CY2023	dei	Auditor Name AuditorName	HoganTaylor LLP
CY2023	dei	Auditor Location AuditorLocation	Oklahoma City, Oklahoma
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	5218474	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7299224	usd
CY2023Q4	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest Current DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent	2220901	usd
CY2022Q4	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest Current DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent	4208648	usd
CY2023Q4	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	2664066	usd
CY2022Q4	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	2302959	usd
CY2023Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	317755	usd
CY2022Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	120230	usd
CY2023Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	2366663	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	2318183	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	12787859	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	16249244	usd
CY2023Q4	us-gaap	Equity Method Investments EquityMethodInvestments	2818790	usd
CY2022Q4	us-gaap	Equity Method Investments EquityMethodInvestments	2469644	usd
CY2023Q4	us-gaap	Other Long Term Investments OtherLongTermInvestments	5332553	usd
CY2022Q4	us-gaap	Other Long Term Investments OtherLongTermInvestments	5085806	usd
CY2023Q4	us-gaap	Long Term Investments LongTermInvestments	8151343	usd
CY2022Q4	us-gaap	Long Term Investments LongTermInvestments	7555450	usd
CY2023Q4	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	3403051	usd
CY2022Q4	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1846543	usd
CY2023Q4	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	69152923	usd
CY2022Q4	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	65328501	usd
CY2023Q4	us-gaap	Oil And Gas Property Successful Effort Method Gross OilAndGasPropertySuccessfulEffortMethodGross	72555974	usd
CY2022Q4	us-gaap	Oil And Gas Property Successful Effort Method Gross OilAndGasPropertySuccessfulEffortMethodGross	67175044	usd
CY2023Q4	us-gaap	Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization	57622564	usd
CY2022Q4	us-gaap	Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization	52773978	usd
CY2023Q4	us-gaap	Oil And Gas Property Successful Effort Method Net OilAndGasPropertySuccessfulEffortMethodNet	14933410	usd
CY2022Q4	us-gaap	Oil And Gas Property Successful Effort Method Net OilAndGasPropertySuccessfulEffortMethodNet	14401066	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	820965	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	758256	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	306587	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	236883	usd
CY2023Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	514378	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	521373	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	15447788	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	14922439	usd
CY2023Q4	us-gaap	Assets Assets	36386990	usd
CY2022Q4	us-gaap	Assets Assets	38727133	usd
CY2023Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	537796	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	399735	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	12839	usd
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	75675	usd
CY2023Q4	us-gaap	Notes Payable Current NotesPayableCurrent	142136	usd
CY2022Q4	us-gaap	Notes Payable Current NotesPayableCurrent	136637	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	692771	usd
CY2023Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2566368	usd
CY2022Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2809257	usd
CY2023Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	1219511	usd
CY2022Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	1619595	usd
CY2023Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	1158736	usd
CY2022Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	1300872	usd
CY2023Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	4944615	usd
CY2022Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	5729724	usd
CY2023Q4	us-gaap	Liabilities Liabilities	5637386	usd
CY2022Q4	us-gaap	Liabilities Liabilities	6341771	usd
CY2023Q4	us-gaap	Common Stock Value CommonStockValue	92368	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	92368	usd
CY2023Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	65000	usd
CY2022Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	65000	usd
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	32212066	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	33828418	usd
CY2023Q4	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	32369434	usd
CY2022Q4	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	33985786	usd
CY2023Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1820527	usd
CY2022Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1749858	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	30548907	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	32235928	usd
CY2023Q4	us-gaap	Minority Interest MinorityInterest	200697	usd
CY2022Q4	us-gaap	Minority Interest MinorityInterest	149434	usd
CY2023Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	30749604	usd
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	32385362	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	36386990	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	38727133	usd
CY2023	us-gaap	Regulated Operating Revenue Gas RegulatedOperatingRevenueGas	13376102	usd
CY2022	us-gaap	Regulated Operating Revenue Gas RegulatedOperatingRevenueGas	16170884	usd
CY2023	us-gaap	Gain Loss On Sale Of Property GainLossOnSaleOfProperty	19491	usd
CY2022	us-gaap	Gain Loss On Sale Of Property GainLossOnSaleOfProperty	198443	usd
CY2023	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	107865	usd
CY2023	us-gaap	Interest Expense InterestExpense	67919	usd
CY2022	us-gaap	Interest Expense InterestExpense	34523	usd
CY2023	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	970586	usd
CY2022	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1185161	usd
CY2023	us-gaap	Income Loss Including Portion Attributable To Noncontrolling Interest IncomeLossIncludingPortionAttributableToNoncontrollingInterest	-260934	usd
CY2022	us-gaap	Income Loss Including Portion Attributable To Noncontrolling Interest IncomeLossIncludingPortionAttributableToNoncontrollingInterest	5045644	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-171401	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1072524	usd
CY2023	us-gaap	Profit Loss ProfitLoss	-89533	usd
CY2022	us-gaap	Profit Loss ProfitLoss	3973120	usd
CY2023	us-gaap	Income Loss From Continuing Operations Attributable To Noncontrolling Entity IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity	-33885	usd
CY2022	us-gaap	Income Loss From Continuing Operations Attributable To Noncontrolling Entity IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity	-27631	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-55648	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	4000751	usd
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.36
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	25.62
CY2023	rsrv	Cash Dividends Declared And Or Paid CashDividendsDeclaredAndOrPaid	10.00
CY2022	rsrv	Cash Dividends Declared And Or Paid CashDividendsDeclaredAndOrPaid	10.00
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	155915	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156163	shares
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	32385362	usd
CY2023	us-gaap	Profit Loss ProfitLoss	-89533	usd
CY2023	us-gaap	Dividends Common Stock DividendsCommonStock	1560704	usd
CY2023	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	70669	usd
CY2023	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	85148	usd
CY2023Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	30749604	usd
CY2021Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	29798830	usd
CY2022	us-gaap	Profit Loss ProfitLoss	3973120	usd
CY2022	us-gaap	Dividends Common Stock DividendsCommonStock	1561573	usd
CY2022	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	2080	usd
CY2022	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	177065	usd
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CY2023	us-gaap	Profit Loss ProfitLoss	-89533	usd
CY2022	us-gaap	Profit Loss ProfitLoss	3973120	usd
CY2023	rsrv	Depreciation Depletion Amortization And Valuation Provisions DepreciationDepletionAmortizationAndValuationProvisions	5895470	usd
CY2022	rsrv	Depreciation Depletion Amortization And Valuation Provisions DepreciationDepletionAmortizationAndValuationProvisions	2802006	usd
CY2023	us-gaap	Depreciation Depreciation	75997	usd
CY2022	us-gaap	Depreciation Depreciation	64291	usd
CY2023	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	72885	usd
CY2022	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	60236	usd
CY2023	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-19491	usd
CY2022	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	267522	usd
CY2023	rsrv	Gain Loss On Expiration Of Lease GainLossOnExpirationOfLease	0	usd
CY2022	rsrv	Gain Loss On Expiration Of Lease GainLossOnExpirationOfLease	-158794	usd
CY2023	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	48000	usd
CY2022	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	41580	usd
CY2023	rsrv	Income Loss From Equity Method Investments And Other Investments IncomeLossFromEquityMethodInvestmentsAndOtherInvestments	47200	usd
CY2022	rsrv	Income Loss From Equity Method Investments And Other Investments IncomeLossFromEquityMethodInvestmentsAndOtherInvestments	-154856	usd
CY2023	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	115603	usd
CY2022	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	-1635240	usd
CY2023	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	-400084	usd
CY2022	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	1068275	usd
CY2023	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	246005	usd
CY2022	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	724522	usd
CY2023	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	379435	usd
CY2022	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-267084	usd
CY2023	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	0	usd
CY2022	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	68019	usd
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	5592853	usd
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	8631251	usd
CY2023	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	9679589	usd
CY2022	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	0	usd
CY2023	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	7691842	usd
CY2022	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	4208648	usd
CY2023	us-gaap	Proceeds From Sale Of Oil And Gas Property And Equipment ProceedsFromSaleOfOilAndGasPropertyAndEquipment	1023857	usd
CY2022	us-gaap	Proceeds From Sale Of Oil And Gas Property And Equipment ProceedsFromSaleOfOilAndGasPropertyAndEquipment	533699	usd
CY2023	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	8160146	usd
CY2022	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	10047748	usd
CY2023	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	611693	usd
CY2022	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	1561767	usd
CY2023	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	15000	usd
CY2022	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	108019	usd
CY2023	us-gaap	Proceeds From Sale Of Equity Securities Fv Ni ProceedsFromSaleOfEquitySecuritiesFvNi	158472	usd
CY2022	us-gaap	Proceeds From Sale Of Equity Securities Fv Ni ProceedsFromSaleOfEquitySecuritiesFvNi	9148302	usd
CY2023	rsrv	Payments For Purchase Of Trading Securities Operating Activities PaymentsForPurchaseOfTradingSecuritiesOperatingActivities	403977	usd
CY2022	rsrv	Payments For Purchase Of Trading Securities Operating Activities PaymentsForPurchaseOfTradingSecuritiesOperatingActivities	3944143	usd
CY2023	us-gaap	Cash Acquired In Excess Of Payments To Acquire Business CashAcquiredInExcessOfPaymentsToAcquireBusiness	0	usd
CY2022	us-gaap	Cash Acquired In Excess Of Payments To Acquire Business CashAcquiredInExcessOfPaymentsToAcquireBusiness	88670	usd
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-5990740	usd
CY2022	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-9883616	usd
CY2023	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	-136637	usd
CY2022	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	-66332	usd
CY2023	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	85148	usd
CY2022	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	52416	usd
CY2023	us-gaap	Payments Of Dividends PaymentsOfDividends	1560704	usd
CY2022	us-gaap	Payments Of Dividends PaymentsOfDividends	1561573	usd
CY2023	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	70669	usd
CY2022	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	2080	usd
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1682862	usd
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1577569	usd
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-2080750	usd
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-2829933	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7299224	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	10129157	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	5218474	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7299224	usd
CY2023	us-gaap	Interest Paid Net InterestPaidNet	55773	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	29873	usd
CY2023	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	425510	usd
CY2022	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	usd
CY2023	us-gaap	Property Plant And Equipment Transfers And Changes PropertyPlantAndEquipmentTransfersAndChanges	304210	usd
CY2022	us-gaap	Property Plant And Equipment Transfers And Changes PropertyPlantAndEquipmentTransfersAndChanges	-218826	usd
CY2023	us-gaap	Basis Of Accounting BasisOfAccounting	The Reserve Petroleum Company, a Delaware corporation, is an independent oil and gas company engaged in oil and natural gas exploration, development and minerals management with areas of concentration in Arkansas, Kansas, Oklahoma, South Dakota, Texas and Wyoming, a single business segment. The Company is also engaged in investments and joint ventures that are not significant business segments. The Company’s consolidated subsidiaries consist of Grand Woods Development, LLC (“Grand Woods”), an Oklahoma limited liability company and wholly owned Trinity Water Services, LLC, an Oklahoma limited liability company, which has a water well drilling joint venture agreement with TWS South, LLC, a Texas limited liability company (Collectively, “TWS”). Unless otherwise specified or the context otherwise requires, all references in these notes to “the Company,” “its,” “our,” and “we” are to The Reserve Petroleum Company and its consolidated subsidiaries.
CY2023Q4	us-gaap	Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax	0	usd
CY2022Q4	us-gaap	Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax	0	usd
CY2023	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	12490047	usd
CY2022	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	14869219	usd
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2022Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2022	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
CY2023	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="padding-left:9pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Concentrations of Credit Risk and Major Customers</span></div><div style="padding-left:9pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s investment in marketable equity securities consists of equity interests in both U.S. and international entities involved in a broad range of industries. These marketable equity securities are subject to overall market risks, which could result in a temporary or permanent decline in the fair value of these securities.</span></div>
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<div style="padding-left:9pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="padding-left:9pt;text-align:justify"><span><br/></span></div><div style="padding-left:9pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates include oil and natural gas reserve quantities that form the basis for the calculation of amortization and impairment of oil and natural gas properties. Management emphasizes that reserve estimates are inherently imprecise and that estimates of more recent reserve discoveries are more imprecise than those for properties with long production histories. Actual results could differ from the estimates and assumptions used in the preparation of the Company’s consolidated financial statements.</span></div>
CY2023	rsrv	Current Year Inflation Rate CurrentYearInflationRate	0.0408
CY2023	rsrv	Change In Present Value Percent ChangeInPresentValuePercent	0.0325
CY2022Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2809257	usd
CY2021Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2359826	usd
CY2023	us-gaap	Asset Retirement Obligation Liabilities Incurred AssetRetirementObligationLiabilitiesIncurred	22482	usd
CY2022	us-gaap	Asset Retirement Obligation Liabilities Incurred AssetRetirementObligationLiabilitiesIncurred	443391	usd
CY2023	us-gaap	Asset Retirement Obligation Liabilities Settled AssetRetirementObligationLiabilitiesSettled	33015	usd
CY2022	us-gaap	Asset Retirement Obligation Liabilities Settled AssetRetirementObligationLiabilitiesSettled	79405	usd
CY2023	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	72885	usd
CY2022	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	60236	usd
CY2023	us-gaap	Asset Retirement Obligation Revision Of Estimate AssetRetirementObligationRevisionOfEstimate	-305241	usd
CY2022	us-gaap	Asset Retirement Obligation Revision Of Estimate AssetRetirementObligationRevisionOfEstimate	25209	usd
CY2023Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2566368	usd
CY2022Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2809257	usd
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.50
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000	shares
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	184735	shares
CY2021Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	28562	shares
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	156173	shares
CY2021	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	16	shares
CY2021	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	16	shares
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.50
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	184735	shares
CY2022Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	28578	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	156157	shares
CY2022	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	461	shares
CY2022	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	461	shares
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.50
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000	shares
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	184735	shares
CY2023Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	29039	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	155696	shares
CY2023	us-gaap	Equity Securities Fv Ni Realized Gain Loss EquitySecuritiesFvNiRealizedGainLoss	-248329	usd
CY2023	us-gaap	Equity Securities Fv Ni Unrealized Gain Loss EquitySecuritiesFvNiUnrealizedGainLoss	363932	usd
CY2022	us-gaap	Equity Securities Fv Ni Realized Gain Loss EquitySecuritiesFvNiRealizedGainLoss	-350469	usd
CY2022	us-gaap	Equity Securities Fv Ni Unrealized Gain Loss EquitySecuritiesFvNiUnrealizedGainLoss	-1284771	usd
CY2023Q4	rsrv	Deferred Tax Assets Accounts Payable DeferredTaxAssetsAccountsPayable	19850	usd
CY2022Q4	rsrv	Deferred Tax Assets Accounts Payable DeferredTaxAssetsAccountsPayable	22647	usd
CY2023Q4	rsrv	Deferred Tax Assets Net Leasehold Impairmentlosses DeferredTaxAssetsNetLeaseholdImpairmentlosses	162128	usd
CY2022Q4	rsrv	Deferred Tax Assets Net Leasehold Impairmentlosses DeferredTaxAssetsNetLeaseholdImpairmentlosses	84641	usd
CY2023Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses	1336249	usd
CY2022Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses	967774	usd
CY2023Q4	rsrv	Deferred Tax Assets Geological And Geophysical Expense DeferredTaxAssetsGeologicalAndGeophysicalExpense	34790	usd
CY2022Q4	rsrv	Deferred Tax Assets Geological And Geophysical Expense DeferredTaxAssetsGeologicalAndGeophysicalExpense	71987	usd
CY2023Q4	rsrv	Deferred Tax Assets Unrealized Equity Securities And Capital Gains DeferredTaxAssetsUnrealizedEquitySecuritiesAndCapitalGains	198875	usd
CY2022Q4	rsrv	Deferred Tax Assets Unrealized Equity Securities And Capital Gains DeferredTaxAssetsUnrealizedEquitySecuritiesAndCapitalGains	148984	usd
CY2023Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations	404401	usd
CY2022Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations	376911	usd
CY2023Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	2156293	usd
CY2022Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	1672944	usd
CY2023Q4	rsrv	Deferred Tax Liabilities Revenue Accruals DeferredTaxLiabilitiesRevenueAccruals	205358	usd
CY2022Q4	rsrv	Deferred Tax Liabilities Revenue Accruals DeferredTaxLiabilitiesRevenueAccruals	239884	usd
CY2023Q4	rsrv	Deferred Tax Liabilities Intangible Drilling Costs DeferredTaxLiabilitiesIntangibleDrillingCosts	2028594	usd
CY2022Q4	rsrv	Deferred Tax Liabilities Intangible Drilling Costs DeferredTaxLiabilitiesIntangibleDrillingCosts	1951662	usd
CY2023Q4	rsrv	Deferred Tax Liabilities Depletion And Depreciation DeferredTaxLiabilitiesDepletionAndDepreciation	811686	usd
CY2022Q4	rsrv	Deferred Tax Liabilities Depletion And Depreciation DeferredTaxLiabilitiesDepletionAndDepreciation	864746	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities Investments DeferredTaxLiabilitiesInvestments	220652	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities Investments DeferredTaxLiabilitiesInvestments	198995	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities Other DeferredTaxLiabilitiesOther	109514	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities Other DeferredTaxLiabilitiesOther	37252	usd
CY2023Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	3375804	usd
CY2022Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	3292539	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	1219511	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	1619595	usd
CY2023	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	224976	usd
CY2022	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	3812	usd
CY2023	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	3707	usd
CY2022	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	437	usd
CY2023	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	228683	usd
CY2022	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	4249	usd
CY2023	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-400084	usd
CY2022	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	1068275	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-171401	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1072524	usd
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.66
CY2022	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.21
CY2023	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-54796	usd
CY2022	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	1059585	usd
CY2023	rsrv	Income Tax Reconciliation Deductions Allowable Depletion IncomeTaxReconciliationDeductionsAllowableDepletion	61358	usd
CY2022	rsrv	Income Tax Reconciliation Deductions Allowable Depletion IncomeTaxReconciliationDeductionsAllowableDepletion	76317	usd
CY2023	us-gaap	Income Tax Reconciliation Prior Year Income Taxes IncomeTaxReconciliationPriorYearIncomeTaxes	-36746	usd
CY2022	us-gaap	Income Tax Reconciliation Prior Year Income Taxes IncomeTaxReconciliationPriorYearIncomeTaxes	109438	usd
CY2023	us-gaap	Income Tax Reconciliation Deductions Dividends IncomeTaxReconciliationDeductionsDividends	6110	usd
CY2022	us-gaap	Income Tax Reconciliation Deductions Dividends IncomeTaxReconciliationDeductionsDividends	18286	usd
CY2023	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	3707	usd
CY2022	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	437	usd
CY2023	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-16098	usd
CY2022	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-2333	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-171401	usd
CY2022	us-gaap	Asset Retirement Obligation Liabilities Incurred AssetRetirementObligationLiabilitiesIncurred	443391	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1072524	usd
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.66
CY2022	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.21
CY2023	us-gaap	Costs Incurred Acquisition Of Unproved Oil And Gas Properties CostsIncurredAcquisitionOfUnprovedOilAndGasProperties	2778208	usd
CY2022	us-gaap	Costs Incurred Acquisition Of Unproved Oil And Gas Properties CostsIncurredAcquisitionOfUnprovedOilAndGasProperties	963822	usd
CY2023	us-gaap	Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves	1895869	usd
CY2022	us-gaap	Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves	4020523	usd
CY2023	us-gaap	Costs Incurred Exploration Costs CostsIncurredExplorationCosts	1941369	usd
CY2022	us-gaap	Costs Incurred Exploration Costs CostsIncurredExplorationCosts	853455	usd
CY2023	us-gaap	Costs Incurred Development Costs CostsIncurredDevelopmentCosts	1768303	usd
CY2022	us-gaap	Costs Incurred Development Costs CostsIncurredDevelopmentCosts	4524443	usd
CY2023	us-gaap	Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities	22482	usd
CY2022	us-gaap	Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities	468600	usd
CY2023	us-gaap	Asset Retirement Obligation Liabilities Incurred AssetRetirementObligationLiabilitiesIncurred	22482	usd
CY2023	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	115603	usd
CY2022	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	-1635240	usd
CY2023	us-gaap	Gain Loss On Sale Of Other Assets GainLossOnSaleOfOtherAssets	0	usd
CY2022	us-gaap	Gain Loss On Sale Of Other Assets GainLossOnSaleOfOtherAssets	49823	usd
CY2023	us-gaap	Interest Income Other InterestIncomeOther	440244	usd
CY2022	us-gaap	Interest Income Other InterestIncomeOther	98231	usd
CY2023	us-gaap	Dividend Income Operating DividendIncomeOperating	58193	usd
CY2022	us-gaap	Dividend Income Operating DividendIncomeOperating	264035	usd
CY2023	rsrv	Investment Income Expense Nonoperating InvestmentIncomeExpenseNonoperating	363738	usd
CY2022	rsrv	Investment Income Expense Nonoperating InvestmentIncomeExpenseNonoperating	108034	usd
CY2023	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-7192	usd
CY2022	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-70044	usd
CY2023	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	970586	usd
CY2022	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1185161	usd
CY2023	us-gaap	Defined Contribution Plan Employer Matching Contribution Percent Of Match DefinedContributionPlanEmployerMatchingContributionPercentOfMatch	1
CY2023	us-gaap	Defined Contribution Plan Employer Matching Contribution Percent DefinedContributionPlanEmployerMatchingContributionPercent	0.06
CY2023	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	61454	usd
CY2022	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	48271	usd
CY2023	srt	Revisions Of Previous Quantity Estimates RevisionsOfPreviousQuantityEstimates	-3250921	usd
CY2022	srt	Revisions Of Previous Quantity Estimates RevisionsOfPreviousQuantityEstimates	3893178	usd
CY2023	srt	Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount	1631935	usd
CY2022	srt	Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount	1203372	usd
CY2023	srt	Increase Due To Purchases Of Minerals In Place IncreaseDueToPurchasesOfMineralsInPlace	0	usd
CY2022	srt	Increase Due To Purchases Of Minerals In Place IncreaseDueToPurchasesOfMineralsInPlace	7853989	usd
CY2023Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows	46985495	usd
CY2022Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows	87815597	usd
CY2023Q4	rsrv	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Production And Development Costs FutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureProductionAndDevelopmentCosts	24793198	usd
CY2022Q4	rsrv	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Future Production And Development Costs FutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureProductionAndDevelopmentCosts	38477835	usd
CY2023Q4	rsrv	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Asset Retirement Obligation FutureNetCashFlowsRelatingToProvedOilAndGasReservesAssetRetirementObligation	3196694	usd
CY2022Q4	rsrv	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Asset Retirement Obligation FutureNetCashFlowsRelatingToProvedOilAndGasReservesAssetRetirementObligation	3719370	usd
CY2023Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense	133859	usd
CY2022Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense	5529912	usd
CY2023Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows	18861744	usd
CY2022Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows	40088480	usd
CY2023Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows	5563580	usd
CY2022Q4	srt	Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows	16182590	usd
CY2023Q4	srt	Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves	13298164	usd
CY2022Q4	srt	Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves	23905890	usd
CY2022Q4	srt	Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves	23905890	usd
CY2021Q4	srt	Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves	8839459	usd
CY2023	srt	Sales And Transfers Of Oil And Gas Produced Net Of Production Costs SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts	-5232550	usd
CY2022	srt	Sales And Transfers Of Oil And Gas Produced Net Of Production Costs SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts	-6832951	usd
CY2023	rsrv	Net Increase Decrease In Sales And Transfer Prices Net Of Production Costs NetIncreaseDecreaseInSalesAndTransferPricesNetOfProductionCosts	-12900661	usd
CY2022	rsrv	Net Increase Decrease In Sales And Transfer Prices Net Of Production Costs NetIncreaseDecreaseInSalesAndTransferPricesNetOfProductionCosts	6904759	usd
CY2023	rsrv	Net Of Future Production And Development Costs NetOfFutureProductionAndDevelopmentCosts	5037358	usd
CY2022	rsrv	Net Of Future Production And Development Costs NetOfFutureProductionAndDevelopmentCosts	5895598	usd
CY2023	srt	Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves	3206768	usd
CY2022	srt	Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves	-2562318	usd
CY2023	rsrv	Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other1 StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther1	-44314	usd
CY2022	rsrv	Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other1 StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther1	468599	usd
CY2023	srt	Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther	944659	usd
CY2022	srt	Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther	-1757795	usd
CY2023Q4	srt	Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves	13298164	usd
CY2022Q4	srt	Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves	23905890	usd

Files In Submission

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rsrv-20231231_htm.xml	Edgar Link	completed
rsrv-20231231_pre.xml	Edgar Link	unprocessable
rsrv-20231231_cal.xml	Edgar Link	unprocessable

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$RSRV
RESERVE PETROLEUM CO Stock $rsrv

2024 Q1 Form 10-K Financial Statement

#000008335024000005 Filed on March 28, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RSRV RESERVE PETROLEUM CO Stock $rsrv

2024 Q1 Form 10-K Financial Statement

#000008335024000005 Filed on March 28, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RSRV
RESERVE PETROLEUM CO Stock $rsrv