Revenue Performance - For the three months ended March 31, 2023, total revenues were 165,762,adecreaseof16,156 or 8.9% compared to 181,918inthesameperiodof2022[82].−Oilandgasrevenuedecreasedby33,234 or 40.3%, from 82,429inQ12022to49,195 in Q1 2023[82]. - Timber sales revenue dropped significantly by 19,842or91.321,743 in Q1 2022 to 1,901inQ12023[82].−Surfacerevenueincreasedby36,920 or 47.5%, rising from 77,746inQ12022to114,666 in Q1 2023[82]. Expenses - General and administrative expenses rose by 474,954,primarilyduetoshare−basedcompensationawardedtoofficers[86].RealEstateTransactions−Thecompanyclosedonthesaleoftwo40−acreparcelsforproceedsof149,992 during Q1 2023[80]. - The company actively seeks additional real estate purchases in Louisiana, focusing on timberland and agricultural land[79]. Dividends and Operations - No dividends were declared during the three months ended March 31, 2023 and 2022[87]. - The company does not explore for oil and gas or operate wells, relying on unrelated third parties for production[76]. Wells and Production - The company received oil and/or gas revenues from 62 wells during both the three months ended March 31, 2023 and 2022[83].
