$RSRV
RESERVE PETROLEUM CO

2021 Q4 Form 10-Q Financial Statement

#000143774921026572 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $2.746M $3.199M $1.197M
YoY Change 172.92% 167.26% -6.25%
Cost Of Revenue $907.0K $800.9K $432.4K
YoY Change 78.67% 85.22% -21.31%
Gross Profit $1.839M $2.398M $764.5K
YoY Change 268.9% 213.66% 5.12%
Gross Profit Margin 66.97% 74.96% 63.87%
Selling, General & Admin $610.2K $510.0K $376.9K
YoY Change 14.46% 35.33% -6.57%
% of Gross Profit 33.19% 21.27% 49.29%
Research & Development $227.7K $430.9K $77.80K
YoY Change 453.8% 396.17%
% of Gross Profit 12.38% 17.97% 10.18%
Depreciation & Amortization $307.1K $380.4K $146.5K
YoY Change -28.64% 159.73% -48.01%
% of Gross Profit 16.7% 15.86% 19.16%
Operating Expenses $1.145M $1.321M $601.1K
YoY Change 17.82% 119.8% -14.21%
Operating Profit $693.8K $900.2K -$943.2K
YoY Change -246.57% -195.45% 244.94%
Interest Expense $243.7K -$172.7K $64.21K
YoY Change -25.23% -368.91% 285.65%
% of Operating Profit 35.13% -19.18%
Other Income/Expense, Net $0.00 -$99.45K $94.46K
YoY Change -100.0% -205.28% 718.56%
Pretax Income -$559.8K $735.8K -$868.0K
YoY Change 136.99% -184.77% 255.46%
Income Tax -$265.8K $93.08K -$131.0K
% Of Pretax Income 12.65%
Net Earnings -$294.1K $642.7K -$737.0K
YoY Change 97.2% -187.2% 310.52%
Net Earnings / Revenue -10.71% 20.09% -61.58%
Basic Earnings Per Share $4.11
Diluted Earnings Per Share -$1.882M $4.105M -$4.706M
COMMON SHARES
Basic Shares Outstanding 156.6K 156.6K
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.27M $18.41M $19.43M
YoY Change 8.86% -5.27% -12.47%
Cash & Equivalents $10.13M $3.090M $17.92M
Short-Term Investments $9.142M $15.32M $1.515M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.363M $1.369M $650.4K
Other Receivables $823.4K $461.8K $396.7K
Total Short-Term Assets $20.99M $20.24M $21.26M
YoY Change -2.53% -4.8% -12.2%
LONG-TERM ASSETS
Property, Plant & Equipment $7.558M $8.830M $7.921M
YoY Change 1.08% 11.47% -28.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.899M $1.515M $672.8K
YoY Change 213.83% 125.23% -6.11%
Other Assets $112.4K $119.0K $139.5K
YoY Change -6.68% -14.69%
Total Long-Term Assets $12.25M $13.22M $11.13M
YoY Change 15.35% 18.7% -17.11%
TOTAL ASSETS
Total Short-Term Assets $20.99M $20.24M $21.26M
Total Long-Term Assets $12.25M $13.22M $11.13M
Total Assets $33.23M $33.46M $32.39M
YoY Change 3.38% 3.28% -13.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $261.1K $152.2K $140.5K
YoY Change 5.26% 8.31% -34.08%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $523.7K $320.6K $203.7K
YoY Change 98.74% 57.35% -29.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.472M $2.330M $1.995M
YoY Change 28.08% 16.83% -31.39%
Total Long-Term Liabilities $2.911M $2.992M $2.653M
YoY Change 16.5% 12.75% -35.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $523.7K $320.6K $203.7K
Total Long-Term Liabilities $2.911M $2.992M $2.653M
Total Liabilities $3.435M $3.312M $2.857M
YoY Change 24.34% 15.93% -34.72%
SHAREHOLDERS EQUITY
Retained Earnings $31.39M $31.68M $31.07M
YoY Change 1.51% 1.97% -10.72%
Common Stock $157.4K $157.4K $157.4K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.748M $1.697M $1.690M
YoY Change 3.24% 0.42% 0.0%
Treasury Stock Shares $28.56K
Shareholders Equity $29.80M $30.14M $29.54M
YoY Change
Total Liabilities & Shareholders Equity $33.23M $33.46M $32.39M
YoY Change 3.38% 3.28% -13.95%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$294.1K $642.7K -$737.0K
YoY Change 97.2% -187.2% 310.52%
Depreciation, Depletion And Amortization $307.1K $380.4K $146.5K
YoY Change -28.64% 159.73% -48.01%
Cash From Operating Activities $1.334M $1.569M $80.86K
YoY Change 476.32% 1840.02% -88.12%
INVESTING ACTIVITIES
Capital Expenditures -$651.9K -$1.377M -$1.277M
YoY Change 609.08% 7.83% 418.22%
Acquisitions
YoY Change
Other Investing Activities $6.408M -$482.2K $4.531M
YoY Change -443.16% -110.64% -973.16%
Cash From Investing Activities $5.756M -$1.859M $3.254M
YoY Change -393.78% -157.14% -525.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.44K 0.000 0.000
YoY Change 1840.0% -100.0%
NET CHANGE
Cash From Operating Activities 1.334M 1.569M 80.86K
Cash From Investing Activities 5.756M -1.859M 3.254M
Cash From Financing Activities -50.44K 0.000 0.000
Net Change In Cash 7.039M -290.7K 3.335M
YoY Change -506.82% -108.72% -3919.44%
FREE CASH FLOW
Cash From Operating Activities $1.334M $1.569M $80.86K
Capital Expenditures -$651.9K -$1.377M -$1.277M
Free Cash Flow $1.986M $2.946M $1.358M
YoY Change 514.06% 116.93% 46.48%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
794162 USD
CY2021Q3 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
344326 USD
CY2020Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
278569 USD
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1369320 USD
CY2021Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
156561
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
384227 USD
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
17005 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3089866 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16187085 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
1515234 USD
CY2021Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
15318738 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
2536482 USD
CY2021Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
117515 USD
CY2020Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
218204 USD
CY2021Q3 us-gaap Assets Current
AssetsCurrent
20239765 USD
CY2020Q4 us-gaap Assets Current
AssetsCurrent
21529736 USD
CY2021Q3 us-gaap Equity Method Investments
EquityMethodInvestments
1515263 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
604991 USD
CY2021Q3 us-gaap Other Long Term Investments
OtherLongTermInvestments
2751458 USD
CY2020Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2415399 USD
CY2021Q3 us-gaap Long Term Investments
LongTermInvestments
4266721 USD
CY2020Q4 us-gaap Long Term Investments
LongTermInvestments
3020390 USD
CY2021Q3 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1904231 USD
CY2020Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1883055 USD
CY2021Q3 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
57183462 USD
CY2020Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
55095961 USD
CY2021Q3 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
59087693 USD
CY2020Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
56979016 USD
CY2021Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
50805169 USD
CY2020Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
49684584 USD
CY2021Q3 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
8282524 USD
CY2020Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
7294432 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
669724 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
279240 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
122070 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
96532 USD
CY2021Q3 rsrv Other Property Equipment Net
OtherPropertyEquipmentNet
547654 USD
CY2020Q4 rsrv Other Property Equipment Net
OtherPropertyEquipmentNet
182708 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8830178 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7477140 USD
CY2021Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
119031 USD
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
120445 USD
CY2021Q3 us-gaap Assets
Assets
33455695 USD
CY2020Q4 us-gaap Assets
Assets
32147711 USD
CY2021Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
152178 USD
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
248054 USD
CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
168418 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
15443 USD
CY2021Q3 us-gaap Liabilities Current
LiabilitiesCurrent
320596 USD
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
263497 USD
CY2021Q3 us-gaap Oil And Gas Reclamation Liability Noncurrent
OilAndGasReclamationLiabilityNoncurrent
2211214 USD
CY2020Q4 us-gaap Oil And Gas Reclamation Liability Noncurrent
OilAndGasReclamationLiabilityNoncurrent
1810729 USD
CY2021Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
119031 USD
CY2020Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
119546 USD
CY2021Q3 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
661523 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
568627 USD
CY2021Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
2991768 USD
CY2020Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
2498902 USD
CY2021Q3 us-gaap Liabilities
Liabilities
3312364 USD
CY2020Q4 us-gaap Liabilities
Liabilities
2762399 USD
CY2021Q3 us-gaap Common Stock Value
CommonStockValue
92368 USD
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
92368 USD
CY2021Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
65000 USD
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
65000 USD
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
31683301 USD
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
30920837 USD
CY2021Q3 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
31840669 USD
CY2020Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
31078205 USD
CY2021Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1697338 USD
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1692893 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30143331 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
29385312 USD
CY2021Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
33455695 USD
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
32147711 USD
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
803 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
803 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
9803 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
83024 USD
CY2021Q3 us-gaap Revenues
Revenues
3198961 USD
CY2020Q3 us-gaap Revenues
Revenues
1196937 USD
us-gaap Revenues
Revenues
6370736 USD
us-gaap Revenues
Revenues
3076051 USD
CY2021Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
800888 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
432403 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1814861 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1370699 USD
CY2021Q3 us-gaap Exploration Expense
ExplorationExpense
430855 USD
CY2020Q3 us-gaap Exploration Expense
ExplorationExpense
77803 USD
us-gaap Exploration Expense
ExplorationExpense
460002 USD
us-gaap Exploration Expense
ExplorationExpense
152973 USD
CY2021Q3 us-gaap Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions
ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions
556993 USD
CY2020Q3 us-gaap Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions
ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions
1253044 USD
us-gaap Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions
ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions
950507 USD
us-gaap Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions
ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions
2869968 USD
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
510009 USD
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
376855 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1700935 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1265858 USD
CY2021Q3 us-gaap Costs And Expenses
CostsAndExpenses
2298745 USD
CY2020Q3 us-gaap Costs And Expenses
CostsAndExpenses
2140105 USD
us-gaap Costs And Expenses
CostsAndExpenses
4926305 USD
us-gaap Costs And Expenses
CostsAndExpenses
5659498 USD
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
900216 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-943168 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1444431 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-2583447 USD
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-64963 USD
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-19325 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-64978 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-57839 USD
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-99454 USD
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
94462 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
376781 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
386964 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
735799 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-868031 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1756234 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2254322 USD
CY2021Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-5125 USD
CY2020Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-202801 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
117983 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-188592 USD
CY2021Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
98205 USD
CY2020Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
71818 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
92895 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-258594 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
93080 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-130983 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
210878 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-447186 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
642719 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-737048 USD
us-gaap Net Income Loss
NetIncomeLoss
1545356 USD
us-gaap Net Income Loss
NetIncomeLoss
-1807136 USD
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
4.10
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.71
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
9.87
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-11.54
rsrv Cash Dividends Declared And Or Paid
CashDividendsDeclaredAndOrPaid
5.00
rsrv Cash Dividends Declared And Or Paid
CashDividendsDeclaredAndOrPaid
5.00
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
156561
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
156615
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
156567
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
156615
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
29500612 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
642719 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
30143331 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
30274079 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-737048 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
29537031 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
29385312 USD
us-gaap Net Income Loss
NetIncomeLoss
1545356 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4445 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
30143331 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
32127244 USD
us-gaap Net Income Loss
NetIncomeLoss
-1807136 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
29537031 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2443204 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
909778 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1515234 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
25082211 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
8079535 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
18490 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
15012 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
2281064 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
1441743 USD
rsrv Proceeds From Sale Of Equity Method And Other Investments
ProceedsFromSaleOfEquityMethodAndOtherInvestments
24750 USD
rsrv Proceeds From Sale Of Equity Method And Other Investments
ProceedsFromSaleOfEquityMethodAndOtherInvestments
24750 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
1596742 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
512415 USD
rsrv Proceeds From Sale Of Trading Securities Operating Activities
ProceedsFromSaleOfTradingSecuritiesOperatingActivities
1775217 USD
rsrv Proceeds From Sale Of Trading Securities Operating Activities
ProceedsFromSaleOfTradingSecuritiesOperatingActivities
1431144 USD
rsrv Payments For Purchase Of Trading Securities Operating Activities
PaymentsForPurchaseOfTradingSecuritiesOperatingActivities
14208971 USD
rsrv Payments For Purchase Of Trading Securities Operating Activities
PaymentsForPurchaseOfTradingSecuritiesOperatingActivities
1467038 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14753086 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
15052386 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
782892 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
783077 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4445 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-787337 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-783077 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13097219 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15179087 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16187085 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2738338 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3089866 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17917425 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Note <em style="font: inherit;">1</em> – BASIS OF PRESENTATION</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 27pt;">In these notes the term “Company” refers to The Reserve Petroleum Company and its consolidated wholly owned subsidiary, Trinity Water Services, LLC, an Oklahoma limited liability company formed in <em style="font: inherit;"> March 2021 </em>to provide initial capital, including the purchase of water well drilling equipment and startup costs, for a joint venture with TWS South, LLC, a Texas limited liability company. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of The Reserve Petroleum Company and its subsidiary, after elimination of all material intercompany balances and transactions.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 27pt;">The accompanying balance sheet as of <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2020,</em> which has been derived from audited financial statements, the unaudited interim consolidated financial statements and these notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain disclosures normally included in financial statements prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The accompanying consolidated financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form <em style="font: inherit;">10</em>-K for the year ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2020</em> as filed with the Securities and Exchange Commission (hereinafter, the <em style="font: inherit;">“2020</em> Form <em style="font: inherit;">10</em>-K”).</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 27pt;">In the opinion of management, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring accruals), which are necessary for a fair statement of the results of the interim periods presented. The results of operations for the current interim periods are <em style="font: inherit;">not</em> necessarily indicative of the operating results for the full year.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 27pt;"><span style="text-decoration: underline; ">Reclassifications</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 27pt;">Certain amounts in the <em style="font: inherit;">2020</em> financial statements have been reclassified to conform to the <em style="font: inherit;">2021</em> presentation. The amounts were <em style="font: inherit;">not</em> material to the consolidated financial statements and had <em style="font: inherit;">no</em> effect on previously reported net income.</p>
CY2021Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
695964 USD
CY2020Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
288799 USD
CY2021Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-256894 USD
CY2020Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
85724 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
341267 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
235113 USD
CY2021Q3 us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
8249 USD
CY2020Q3 us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
5072 USD
us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
-184806 USD
us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
13548 USD
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5179 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-11393 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-24876 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-31919 USD
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-99454 USD
us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
19025 USD
CY2021Q3 us-gaap Interest Income Other
InterestIncomeOther
5421 USD
CY2020Q3 us-gaap Interest Income Other
InterestIncomeOther
9380 USD
us-gaap Interest Income Other
InterestIncomeOther
18579 USD
us-gaap Interest Income Other
InterestIncomeOther
145282 USD
CY2020Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
5600 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
5600 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
5600 USD
CY2021Q3 us-gaap Dividend Income Operating
DividendIncomeOperating
138591 USD
CY2020Q3 us-gaap Dividend Income Operating
DividendIncomeOperating
79 USD
us-gaap Dividend Income Operating
DividendIncomeOperating
221017 USD
us-gaap Dividend Income Operating
DividendIncomeOperating
315 USD
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
94462 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
376781 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
386964 USD
rsrv Current Year Inflation Rate
CurrentYearInflationRate
0.0408 pure
rsrv Change In Present Value Percent
ChangeInPresentValuePercent
0.0325 pure
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1810729 USD
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
402 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
32861 USD
CY2021Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2211214 USD
rsrv Impairment Of Oil And Gas Cost Properties
ImpairmentOfOilAndGasCostProperties
176578 USD
rsrv Impairment Of Oil And Gas Cost Properties
ImpairmentOfOilAndGasCostProperties
2418898 USD

Files In Submission

Name View Source Status
0001437749-21-026572-index-headers.html Edgar Link pending
0001437749-21-026572-index.html Edgar Link pending
0001437749-21-026572.txt Edgar Link pending
0001437749-21-026572-xbrl.zip Edgar Link pending
ex_305515.htm Edgar Link pending
ex_305516.htm Edgar Link pending
ex_305517.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
logo.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
rsrv-20210930.xsd Edgar Link pending
rsrv-20210930_cal.xml Edgar Link unprocessable
rsrv-20210930_def.xml Edgar Link unprocessable
rsrv-20210930_lab.xml Edgar Link unprocessable
rsrv-20210930_pre.xml Edgar Link unprocessable
rsrv20210930_10q.htm Edgar Link pending
rsrv20210930_10q_htm.xml Edgar Link completed
Show.js Edgar Link pending