$RSRV
RESERVE PETROLEUM CO Stock $rsrv

$rsrv Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000143774922020473 Filed on August 15, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2022 Q1
Revenue	$3.618M	$4.412M	$3.946M
YoY Change	13.11%	180.76%	146.54%
Cost Of Revenue	$873.8K	$825.9K	$778.2K
YoY Change	9.11%	69.44%	47.78%
Gross Profit	$2.745M	$3.586M	$3.168M
YoY Change	14.45%	230.82%	194.96%
Gross Profit Margin	75.85%	81.28%	80.28%
Selling, General & Admin	$466.9K	$399.9K	$534.2K
YoY Change	-8.45%	-35.21%	-6.89%
% of Gross Profit	17.01%	11.15%	16.86%
Research & Development	$284.6K	$47.76K	-$53.78K
YoY Change	-33.94%	268.52%	-432.18%
% of Gross Profit	10.37%	1.33%	-1.7%
Depreciation & Amortization	$288.2K	$295.4K	$335.1K
YoY Change	-24.24%	99.07%	36.68%
% of Gross Profit	10.5%	8.24%	10.58%
Operating Expenses	$1.040M	$743.1K	$815.4K
YoY Change	-21.31%	-4.56%	-2.34%
Operating Profit	$1.462M	$2.622M	$2.203M
YoY Change	62.38%	717.94%	821.95%
Interest Expense	-$104.4K	-$1.517M	-$148.6K
YoY Change	-39.56%	-363.54%	-268.76%
% of Operating Profit	-7.14%	-57.86%	-6.74%
Other Income/Expense, Net	-$55.01K	-$1.467M	-$65.11K
YoY Change	-44.69%	-492.18%	-174.88%
Pretax Income	$1.398M	$1.105M	$2.054M
YoY Change	90.06%	59.31%	528.27%
Income Tax	$367.2K	$278.9K	$368.6K
% Of Pretax Income	26.26%	25.25%	17.94%
Net Earnings	$1.031M	$825.9K	$1.685M
YoY Change	60.45%	28.41%	549.6%
Net Earnings / Revenue	28.5%	18.72%	42.72%
Basic Earnings Per Share	$6.60	$5.29	$10.79
Diluted Earnings Per Share	$6.604M	$5.289M	$10.79M
COMMON SHARES
Basic Shares Outstanding	156.2K	156.2K	156.2K
Diluted Shares Outstanding

Balance Sheet

Concept	2022 Q3	2022 Q2	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$5.931M	$16.80M	$19.78M
YoY Change	-67.78%	-10.84%	15.49%
Cash & Equivalents	$5.045M	$9.033M	$9.901M
Short-Term Investments	$886.0K	$7.762M	$9.878M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$1.936M	$2.325M	$2.115M
Other Receivables	$55.81K	$646.8K	$774.0K
Total Short-Term Assets	$14.68M	$19.77M	$22.67M
YoY Change	-27.49%	-1.58%	5.67%
LONG-TERM ASSETS
Property, Plant & Equipment	$15.92M	$10.30M	$8.041M
YoY Change	80.26%	28.59%	1.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$2.215M	$1.952M	$1.411M
YoY Change	46.16%	21.64%	128.99%
Other Assets			$106.1K
YoY Change			-0.54%
Total Long-Term Assets	$23.19M	$15.86M	$12.46M
YoY Change	75.44%	26.5%	12.57%
TOTAL ASSETS
Total Short-Term Assets	$14.68M	$19.77M	$22.67M
Total Long-Term Assets	$23.19M	$15.86M	$12.46M
Total Assets	$37.86M	$35.62M	$35.12M
YoY Change	13.17%	9.21%	8.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$346.3K	$690.0K	$234.3K
YoY Change	127.59%	445.66%	25.22%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$133.4K
YoY Change
Total Short-Term Liabilities	$523.4K	$719.3K	$300.8K
YoY Change	63.25%	311.25%	42.07%
LONG-TERM LIABILITIES
Long-Term Debt	$1.337M	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$2.611M	$2.373M	$2.469M
YoY Change	12.07%	-0.39%	28.04%
Total Long-Term Liabilities	$5.446M	$4.159M	$3.338M
YoY Change	82.03%	41.19%	25.45%
TOTAL LIABILITIES
Total Short-Term Liabilities	$523.4K	$719.3K	$300.8K
Total Long-Term Liabilities	$5.446M	$4.159M	$3.338M
Total Liabilities	$5.969M	$4.878M	$3.639M
YoY Change	80.21%	56.33%	26.67%
SHAREHOLDERS EQUITY
Retained Earnings	$33.37M	$32.34M	$33.07M
YoY Change	5.32%	4.18%	6.08%
Common Stock	$157.4K	$157.4K	$157.4K
YoY Change	0.0%	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$1.750M	$1.750M	$1.748M
YoY Change	3.09%	3.09%	3.15%
Treasury Stock Shares
Shareholders Equity	$31.78M	$30.75M	$31.48M
YoY Change
Total Liabilities & Shareholders Equity	$37.86M	$35.62M	$35.12M
YoY Change	13.17%	9.21%	8.02%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2022 Q1
OPERATING ACTIVITIES
Net Income	$1.031M	$825.9K	$1.685M
YoY Change	60.45%	28.41%	549.6%
Depreciation, Depletion And Amortization	$288.2K	$295.4K	$335.1K
YoY Change	-24.24%	99.07%	36.68%
Cash From Operating Activities	$2.459M	$2.950M	$1.442M
YoY Change	56.76%	533.25%	252.75%
INVESTING ACTIVITIES
Capital Expenditures	-$6.311M	-$2.014M	-$1.070M
YoY Change	358.28%	655.16%	67.86%
Acquisitions
YoY Change
Other Investing Activities	-$136.0K	-$240.0K	-$600.3K
YoY Change	-71.8%	-98.18%	-151.32%
Cash From Investing Activities	-$6.447M	-$2.254M	-$1.670M
YoY Change	246.74%	-83.21%	-413.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	-1.564M	$0.00
YoY Change		99.0%	-100.0%
NET CHANGE
Cash From Operating Activities	2.459M	2.950M	$1.442M
Cash From Investing Activities	-6.447M	-2.254M	-$1.670M
Cash From Financing Activities	0.000	-1.564M	$0.00
Net Change In Cash	-3.988M	-867.6K	-$228.3K
YoY Change	1272.14%	-93.69%	-124.3%
FREE CASH FLOW
Cash From Operating Activities	$2.459M	$2.950M	$1.442M
Capital Expenditures	-$6.311M	-$2.014M	-$1.070M
Free Cash Flow	$8.770M	$4.963M	$2.511M
YoY Change	197.71%	577.64%	140.11%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2021Q4	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1663567	usd
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2021Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
	rsrv	Impairment Of Oil And Gas Cost Properties ImpairmentOfOilAndGasCostProperties	0	usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	000-08157
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	73-0237060
	dei	Entity Address Address Line1 EntityAddressAddressLine1	6801 BROADWAY EXT., SUITE 300
	dei	Entity Address City Or Town EntityAddressCityOrTown	OKLAHOMA CITY
	dei	Entity Address State Or Province EntityAddressStateOrProvince	OK
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	73116-9037
	dei	City Area Code CityAreaCode	405
	dei	Local Phone Number LocalPhoneNumber	848-7551
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	156157
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	9033320	usd
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	10129157	usd
CY2022Q2	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	7762334	usd
CY2021Q4	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	9142357	usd
CY2022Q2	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	646844	usd
CY2021Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	350927	usd
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	2325136	usd
CY2021Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	1362963	usd
CY2022Q2	us-gaap	Assets Current AssetsCurrent	19767634	usd
CY2021Q4	us-gaap	Assets Current AssetsCurrent	20985404	usd
CY2022Q2	us-gaap	Equity Method Investments EquityMethodInvestments	1952305	usd
CY2021Q4	us-gaap	Equity Method Investments EquityMethodInvestments	1898646	usd
CY2022Q2	us-gaap	Other Long Term Investments OtherLongTermInvestments	3609082	usd
CY2021Q4	us-gaap	Other Long Term Investments OtherLongTermInvestments	2791656	usd
CY2022Q2	us-gaap	Long Term Investments LongTermInvestments	5561387	usd
CY2021Q4	us-gaap	Long Term Investments LongTermInvestments	4690302	usd
CY2022Q2	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1912488	usd
CY2022Q2	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	58857270	usd
CY2021Q4	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	58046754	usd
CY2022Q2	us-gaap	Oil And Gas Property Successful Effort Method Gross OilAndGasPropertySuccessfulEffortMethodGross	60769758	usd
CY2021Q4	us-gaap	Oil And Gas Property Successful Effort Method Gross OilAndGasPropertySuccessfulEffortMethodGross	59710321	usd
CY2022Q2	us-gaap	Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization	51030734	usd
CY2021Q4	us-gaap	Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization	52686001	usd
CY2022Q2	us-gaap	Oil And Gas Property Successful Effort Method Net OilAndGasPropertySuccessfulEffortMethodNet	9739024	usd
CY2021Q4	us-gaap	Oil And Gas Property Successful Effort Method Net OilAndGasPropertySuccessfulEffortMethodNet	7024320	usd
CY2022Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	763283	usd
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	680043	usd
CY2022Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	206845	usd
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	146425	usd
CY2022Q2	rsrv	Other Property Equipment Net OtherPropertyEquipmentNet	556438	usd
CY2021Q4	rsrv	Other Property Equipment Net OtherPropertyEquipmentNet	533618	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	10295462	usd
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	7557938	usd
CY2022Q2	us-gaap	Assets Assets	35624483	usd
CY2021Q4	us-gaap	Assets Assets	33233644	usd
CY2022Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	689963	usd
CY2021Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	261114	usd
CY2022Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	29362	usd
CY2021Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	262554	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	719325	usd
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	523668	usd
CY2022Q2	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2372798	usd
CY2021Q4	us-gaap	Oil And Gas Reclamation Liability Noncurrent OilAndGasReclamationLiabilityNoncurrent	2359826	usd
CY2022Q2	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	1785794	usd
CY2021Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	551320	usd
CY2022Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	4158592	usd
CY2021Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	2911146	usd
CY2022Q2	us-gaap	Liabilities Liabilities	4877917	usd
CY2021Q4	us-gaap	Liabilities Liabilities	3434814	usd
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	92368	usd
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	92368	usd
CY2022Q2	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	65000	usd
CY2021Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	65000	usd
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	32339056	usd
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	31389240	usd
CY2022Q2	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	32496424	usd
CY2021Q4	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	31546608	usd
CY2022Q2	us-gaap	Treasury Stock Value TreasuryStockValue	1749858	usd
CY2021Q4	us-gaap	Treasury Stock Value TreasuryStockValue	1747778	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	30746566	usd
CY2021Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	29798830	usd
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	35624483	usd
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	33233644	usd
CY2022Q2	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	104147	usd
CY2022Q2	rsrv	Water Welldrilling Services WaterWelldrillingServices	269154	usd
CY2022Q2	us-gaap	Revenues Revenues	4411654	usd
CY2021Q2	us-gaap	Revenues Revenues	1571321	usd
	us-gaap	Revenues Revenues	8158666	usd
	us-gaap	Revenues Revenues	3171775	usd
CY2022Q2	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	825870	usd
CY2021Q2	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	487414	usd
	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	1604045	usd
	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	1013973	usd
CY2022Q2	rsrv	Exploration Expense Reversal ExplorationExpenseReversal	47758	usd
CY2021Q2	rsrv	Exploration Expense Reversal ExplorationExpenseReversal	12957	usd
	rsrv	Exploration Expense Reversal ExplorationExpenseReversal	-6023	usd
	rsrv	Exploration Expense Reversal ExplorationExpenseReversal	29147	usd
CY2022Q2	rsrv	Water Welldrilling Services Expense Total WaterWelldrillingServicesExpenseTotal	221096	usd
CY2022Q2	us-gaap	Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions	295400	usd
CY2021Q2	us-gaap	Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions	148389	usd
	us-gaap	Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions	630446	usd
	us-gaap	Results Of Operations Depreciation Depletion And Amortization And Valuation Provisions ResultsOfOperationsDepreciationDepletionAndAmortizationAndValuationProvisions	393514	usd
CY2022Q2	us-gaap	Gain Loss On Sale Of Property GainLossOnSaleOfProperty	279	usd
CY2021Q2	us-gaap	Gain Loss On Sale Of Property GainLossOnSaleOfProperty	15243	usd
	us-gaap	Gain Loss On Sale Of Property GainLossOnSaleOfProperty	199025	usd
	us-gaap	Gain Loss On Sale Of Property GainLossOnSaleOfProperty	15243	usd
CY2022Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	399910	usd
CY2022Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	278918	usd
CY2021Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	50326	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	647506	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	117798	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	825910	usd
CY2021Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	500131	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	934077	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1073802	usd
CY2022Q2	us-gaap	Costs And Expenses CostsAndExpenses	1789755	usd
CY2021Q2	us-gaap	Costs And Expenses CostsAndExpenses	1250772	usd
	us-gaap	Costs And Expenses CostsAndExpenses	3334137	usd
	us-gaap	Costs And Expenses CostsAndExpenses	2612317	usd
CY2022Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	2621899	usd
CY2021Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	320549	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	4824529	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	559458	usd
CY2022Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-50133	usd
CY2021Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-1100	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-133590	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-15	usd
CY2022Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1466938	usd
CY2021Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	374048	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1532044	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	460992	usd
CY2022Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1104828	usd
CY2021Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	693497	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	3158895	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1020435	usd
CY2022Q2	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	-638138	usd
CY2021Q2	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	219311	usd
	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	-586968	usd
	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	123108	usd
CY2022Q2	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	917056	usd
CY2021Q2	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-168985	usd
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	1234474	usd
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-5310	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	643171	usd
	us-gaap	Net Income Loss NetIncomeLoss	2511389	usd
	us-gaap	Net Income Loss NetIncomeLoss	902637	usd
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	5.29
CY2021Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	4.11
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	16.08
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	5.77
CY2022Q2	rsrv	Cash Dividends Declared And Or Paid CashDividendsDeclaredAndOrPaid	10.00
CY2021Q2	rsrv	Cash Dividends Declared And Or Paid CashDividendsDeclaredAndOrPaid	5.00
	rsrv	Cash Dividends Declared And Or Paid CashDividendsDeclaredAndOrPaid	10.00
	rsrv	Cash Dividends Declared And Or Paid CashDividendsDeclaredAndOrPaid	5.00
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156161
CY2021Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156567
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156167
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156567
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	31484309	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	825910	usd
CY2022Q2	us-gaap	Dividends Common Stock DividendsCommonStock	1561573	usd
CY2022Q2	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	2080	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-3923618	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-12893740	usd
	us-gaap	Payments Of Dividends PaymentsOfDividends	1561573	usd
	us-gaap	Payments Of Dividends PaymentsOfDividends	782892	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	2080	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	4445	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	30746566	usd
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	29643193	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	643171	usd
CY2021Q2	us-gaap	Dividends Common Stock DividendsCommonStock	782892	usd
CY2021Q2	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	2860	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	29500612	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	29798830	usd
	us-gaap	Net Income Loss NetIncomeLoss	2511389	usd
	us-gaap	Dividends Common Stock DividendsCommonStock	1561573	usd
	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	2080	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	30746566	usd
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	29385312	usd
	us-gaap	Net Income Loss NetIncomeLoss	902637	usd
	us-gaap	Dividends Common Stock DividendsCommonStock	782892	usd
	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	4445	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	29500612	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	4391434	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	874504	usd
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	1515234	usd
	us-gaap	Proceeds From Sale Of Oil And Gas Property And Equipment ProceedsFromSaleOfOilAndGasPropertyAndEquipment	457898	usd
	us-gaap	Proceeds From Sale Of Oil And Gas Property And Equipment ProceedsFromSaleOfOilAndGasPropertyAndEquipment	22000	usd
	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	3083402	usd
	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	903903	usd
	us-gaap	Payments To Acquire Other Investments PaymentsToAcquireOtherInvestments	1029426	usd
	us-gaap	Payments To Acquire Other Investments PaymentsToAcquireOtherInvestments	1200337	usd
	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	81205	usd
	rsrv	Proceeds From Sale Of Trading Securities Operating Activities ProceedsFromSaleOfTradingSecuritiesOperatingActivities	2059005	usd
	rsrv	Proceeds From Sale Of Trading Securities Operating Activities ProceedsFromSaleOfTradingSecuritiesOperatingActivities	1063813	usd
	rsrv	Payments For Purchase Of Trading Securities Operating Activities PaymentsForPurchaseOfTradingSecuritiesOperatingActivities	2408898	usd
	rsrv	Payments For Purchase Of Trading Securities Operating Activities PaymentsForPurchaseOfTradingSecuritiesOperatingActivities	13390547	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1563653	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-787337	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1095837	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-12806573	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	10129157	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	16187085	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	9033320	usd
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	3380512	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 (“TWSOK”), 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 TWS South, LLC (“TWSTX”), 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 (“GAAP”) 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;">2021,</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 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;">2021</em> as filed with the Securities and Exchange Commission (the <em style="font: inherit;">“2021</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;">Reclassifications</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;">2021</em> financial statements have been reclassified to conform to the <em style="font: inherit;">2022</em> presentation. The amounts were <em style="font: inherit;">not</em> material to the consolidated financial statements and had <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">no</em> effect on previously reported net income or stockholders’ equity.</p>
CY2022Q2	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	2144069	usd
CY2021Q2	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	395331	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	4038353	usd
CY2021Q2	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	1486844	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	7472177	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	3087298	usd
CY2021Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	374048	usd
CY2022Q2	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	-1583840	usd
CY2021Q2	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	534619	usd
	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	-1729916	usd
	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	601989	usd
CY2022Q2	us-gaap	Interest Income Other InterestIncomeOther	9670	usd
CY2021Q2	us-gaap	Interest Income Other InterestIncomeOther	6061	usd
	us-gaap	Interest Income Other InterestIncomeOther	17199	usd
	us-gaap	Interest Income Other InterestIncomeOther	13158	usd
CY2021Q2	us-gaap	Rental Income Nonoperating RentalIncomeNonoperating	5600	usd
	us-gaap	Rental Income Nonoperating RentalIncomeNonoperating	5600	usd
CY2022Q2	us-gaap	Dividend Income Operating DividendIncomeOperating	87824	usd
CY2021Q2	us-gaap	Dividend Income Operating DividendIncomeOperating	62774	usd
	us-gaap	Dividend Income Operating DividendIncomeOperating	184126	usd
	us-gaap	Dividend Income Operating DividendIncomeOperating	82426	usd
CY2022Q2	rsrv	Investment Income Expense Nonoperating InvestmentIncomeExpenseNonoperating	48137	usd
CY2021Q2	rsrv	Investment Income Expense Nonoperating InvestmentIncomeExpenseNonoperating	-208298	usd
	rsrv	Investment Income Expense Nonoperating InvestmentIncomeExpenseNonoperating	56455	usd
	rsrv	Investment Income Expense Nonoperating InvestmentIncomeExpenseNonoperating	-208298	usd
CY2022Q2	us-gaap	Other Expenses OtherExpenses	28729	usd
CY2021Q2	us-gaap	Other Expenses OtherExpenses	26708	usd
	us-gaap	Other Expenses OtherExpenses	59908	usd
	us-gaap	Other Expenses OtherExpenses	33883	usd
CY2022Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1466938	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1532044	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	460992	usd
	rsrv	Current Year Inflation Rate CurrentYearInflationRate	0.0408	pure
	rsrv	Change In Present Value Percent ChangeInPresentValuePercent	0.0325	pure
CY2021Q4	us-gaap	Asset Retirement Obligation AssetRetirementObligation	2359826	usd
	us-gaap	Asset Retirement Obligation Liabilities Settled AssetRetirementObligationLiabilitiesSettled	18715	usd
	us-gaap	Asset Retirement Obligation Revision Of Estimate AssetRetirementObligationRevisionOfEstimate	1569	usd
	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	30118	usd
CY2022Q2	us-gaap	Asset Retirement Obligation AssetRetirementObligation	2372798	usd
	rsrv	Impairment Of Oil And Gas Cost Properties ImpairmentOfOilAndGasCostProperties	0	usd

Files In Submission

Name	View Source	Status
0001437749-22-020473-index-headers.html	Edgar Link	pending
0001437749-22-020473-index.html	Edgar Link	pending
0001437749-22-020473.txt	Edgar Link	pending
0001437749-22-020473-xbrl.zip	Edgar Link	pending
ex_408988.htm	Edgar Link	pending
ex_408989.htm	Edgar Link	pending
ex_408990.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
image001.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
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-20220630.xsd	Edgar Link	pending
rsrv20220630_10q.htm	Edgar Link	pending
Show.js	Edgar Link	pending
rsrv-20220630_pre.xml	Edgar Link	unprocessable
rsrv-20220630_def.xml	Edgar Link	unprocessable
rsrv-20220630_lab.xml	Edgar Link	unprocessable
rsrv20220630_10q_htm.xml	Edgar Link	completed
FilingSummary.xml	Edgar Link	unprocessable
rsrv-20220630_cal.xml	Edgar Link	unprocessable

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$RSRV
RESERVE PETROLEUM CO Stock $rsrv

2022 Q3 Form 10-Q Financial Statement

#000143774922020473 Filed on August 15, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RSRV RESERVE PETROLEUM CO Stock $rsrv

2022 Q3 Form 10-Q Financial Statement

#000143774922020473 Filed on August 15, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RSRV
RESERVE PETROLEUM CO Stock $rsrv