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Note 13 - Fair Value Measurements - Schedule of Fair Value Assets Measured on Recurring Basis (Details) - Anfield Energy [Member] - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Number of shares owned (in shares)	32,282	2,421,180
Quoted market price (in dollars per share)	$ 5.14173	$ 0.06256
Share value	$ 165,985	$ 151,475
Estimated cost to sell shares	(20,000)	(20,000)
Fair Value	$ 145,985	$ 131,475

- Definition

Fair value of investment in security owned.

+ References

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+ Details

Note 1 - Organization, Operations and Significant Accounting Policies - Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Production taxes	$ 539	$ 1,213
Total operating expense	21,712	46,294
Interest expense, net	(208)	(442)
Total other income (expense)	(9)	62
Net loss before income taxes	14,368	25,613
Accumulated deficit, December 31, 2023	(211,912)	(197,538)	$ (171,816)
Accounts payable and accrued liabilities	1,538	5,086
Total current liabilities	6,023	11,968
Previously Reported [Member]
Production taxes		1,276
Total operating expense		46,357
Interest expense, net		(530)
Total other income (expense)		(26)
Net loss before income taxes		25,764
Accumulated deficit, December 31, 2023		(197,918)	(172,134)
Accounts payable and accrued liabilities	$ 1,538	5,466
Total current liabilities		12,348
Adjustment for Production Tax [Member]
Production taxes		(63)
Total operating expense		(63)
Interest expense, net		0
Total other income (expense)		0
Net loss before income taxes		63
Accumulated deficit, December 31, 2023		381	318
Accounts payable and accrued liabilities		(381)
Total current liabilities		(381)
Adjustment for Commitment Fee [Member]
Production taxes		0
Total operating expense		0
Interest expense, net		88
Total other income (expense)		88
Net loss before income taxes		88
Accumulated deficit, December 31, 2023		0	$ 0
Accounts payable and accrued liabilities		0
Total current liabilities		$ 0

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual [Table]
Material Terms of Trading Arrangement [Text Block]	Item 9B – Other Information. (b) Rule 10b5-1 Trading Plans. During the quarter ended December 31, 2025, none of the Company’s directors or officers (as defined in Rule 16a-1(f)) adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement”.
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Award Timing Disclosure	12 Months Ended
Award Timing Disclosure	Dec. 31, 2025
Award Tmg Disc Line Items
Award Timing MNPI Considered [Flag]	true

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Schedule of Proved Reserves (Details)

12 Months Ended

Dec. 31, 2025

bbl

MMcf

Dec. 31, 2024

bbl

MMcf

Crude Oil, Condensate, and Natural Gas Liquids (NGL) [Member]

Reserve quantities, beginning of year (Barrel of Oil) | bbl

1,592,306

3,182,861

Revisions of previous estimates (Barrel of Oil) | bbl

(120,898)

(515,318)

Discoveries and extensions (Barrel of Oil) | bbl

Purchases of minerals in place (Barrel of Oil) | bbl

Sale of minerals in place (Barrel of Oil) | bbl

(271,457)

(819,071)

Production (Barrel of Oil) | bbl

(112,797)

(256,166)

Reserve quantities, end of year (Barrel of Oil) | bbl

1,087,155

1,592,306

Natural Gas [Member]

Reserve quantities, beginning of year (Barrel of Oil) | MMcf

^[1]

2,306,915

10,082,386

Revisions of previous estimates (Barrel of Oil) | MMcf

^[1]

220,809

(2,546,079)

Discoveries and extensions (Barrel of Oil) | MMcf

^[1]

Purchases of minerals in place (Barrel of Oil) | MMcf

^[1]

Sale of minerals in place (Barrel of Oil) | MMcf

^[1]

(27,997)

(4,271,067)

Production (Barrel of Oil) | MMcf

^[1]

(311,729)

(958,325)

Reserve quantities, end of year (Barrel of Oil) | MMcf

^[1]

2,187,999

2,306,915

[1]	Mcf equivalents (Mcfe) consist of natural gas reserves in mcf plus NGLs converted to mcf using a factor of 6 mcf for each barrel of NGL.

Note 10 - Shareholders' Equity - Stock Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense	$ 1,853	$ 1,268

Note 12 - Income (Loss) Per Share - Schedule of Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Net income (loss) attributable to common shareholders	$ (14,374)	$ (25,633)
Basic weighted-average common shares outstanding (in shares)	33,820	26,720
Dilutive effect of potentially dilutive securities (in shares)	0	0
Diluted weighted-average common shares outstanding (in shares)	33,820	26,720
Basic and diluted loss per share (in dollars per share)	$ (0.43)	$ (0.96)
Diluted net loss per share (in dollars per share)	$ (0.43)	$ (0.96)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480336/718-10-65-17

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

+ Details

Note 14 - Other Current Assets and Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accounts payable	$ 837	$ 2,197
Operating expense accruals	499	2,417
Interest payable	26	172
Production taxes payable	95	653
Other	81	27
Total accounts payable and accrued expenses	1,538	5,086
Previously Reported [Member]
Total accounts payable and accrued expenses	$ 1,538	$ 5,466

Note 2 - Acquisitions and Divestitures (Details Textual) $ in Thousands			12 Months Ended
	Jan. 07, 2025 USD ($) a shares	Jun. 24, 2024 USD ($) a shares	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Proceeds from Sale of Oil and Gas Property and Equipment, Net			$ 194	$ 13,541
Asset Retirement Obligation, Liabilities Settled			5,571	5,435
Wells in Wyoming and West Texas [Member]
Proceeds from Sale of Oil and Gas Property and Equipment, Net			600
Asset Retirement Obligation, Liabilities Settled			5,600
Gain (Loss) on Disposition of Oil and Gas Property			$ 0
Wells and Overriding Royalty Interests in Texas, Kansas, Oklahoma, and New Mexico [Member]
Proceeds from Sale of Oil and Gas Property and Equipment, Net				7,200
Asset Retirement Obligation, Liabilities Settled				5,400
Gain (Loss) on Disposition of Oil and Gas Property				0
Proceeds from Sale of Property, Plant, and Equipment				14,000
Disposal Group, Transaction Costs				400
Wells and Overriding Royalty Interests in North Dakota, New Mexico, and Texas [Member]
Gain (Loss) on Disposition of Oil and Gas Property				$ 5,000
Percentage of Reserve Volume Sold				36.00%
Percentage of Reserve Value Sold				30.00%
Property [Member] \| Kevin Dome Structure [Member] \| Synergy Purchase Agreement [Member]
Oil and Gas, Undeveloped Acreage, Net (Acre) \| a	24,000
Payments to Acquire Productive Assets	$ 2,000
Asset Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) \| shares	1,400,000
Asset Acquisition, Percentage of Capital Costs Responsible for	100.00%
Asset Acquisition, Repayment of Capital Costs, Period From Closing Date (Month)	78 months
Asset Acqusition, Amount of Capital Costs Incurred Related to Selling Party	$ 20,000
Asset Acquisition, Contingent Consideration, Percentage of Gain on Sale of Initial Gas Processing Plant	18.00%
Asset Acquisition, Consideration Transferred	$ 4,900
Helium Acreage [Member] \| Kevin Dome Structure [Member]
Oil and Gas, Undeveloped Acreage, Net (Acre) \| a		144,000
Payments to Acquire Productive Assets		$ 2,000
Asset Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) \| shares		2,600,000
Asset Acquisition, Percentage of Capital Costs Responsible for		100.00%
Asset Acqusition, Amount of Capital Costs Incurred Related to Selling Party		$ 20,000
Number of Wells		2
Asset Acquisition, Transaction Costs		$ 400
Synergy Offshore LLC [Member] \| Property [Member] \| Kevin Dome Structure [Member] \| Synergy Purchase Agreement [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner	20.00%
Synergy Offshore LLC [Member] \| Board of Directors Chairman [Member]
Beneficial Ownership Percentage	60.00%
US Energy [Member] \| Helium Acreage [Member] \| Kevin Dome Structure [Member]
Purchase and Sale Agreement, Percentage of Rights Acquired		82.50%
WaveTech [Member} \| Helium Acreage [Member] \| Kevin Dome Structure [Member]
Purchase and Sale Agreement, Percentage of Rights Acquired		17.50%
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable		$ 2,700

Note 3 - Revenue From Contracts with Customers

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3. REVENUE FROM CONTRACTS WITH CUSTOMERS

The Company disaggregates its share of revenue from the sale of oil, natural gas and natural gas liquids by region as follows:

	*Year Ended*
	*December 31,*
	*2025*		*2024*
	(in thousands)
Revenue:
Rockies
Oil	$	5,099	$	7,366
Natural gas and liquids		178		189
Total		5,277		7,555

West Texas, South Texas, and Gulf Coast
Oil		754		5,276
Natural gas and liquids		16		117
Total		770		5,393

Mid-Continent
Oil		525		5,523
Natural gas and liquids		781		2,148
Total		1,306		7,671

Total revenue	$	7,353	$	20,619

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Note 14 - Other Current Assets and Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Other Current Assets, Accounts Payable, and Accrued Liabilities [Text Block]

14. OTHER CURRENT ASSETS AND ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Other Current Assets

The following table presents the components of other current assets as of the dates indicated:

	*December 31,*
	*2025*			*2024*
	(in thousands)
Prepaid expense	$	164		$	119
Joint interest billings receivable, net of allowance of $380 and $100 as of December 31, 2025 and 2024, respectively		(31	)		378
Income tax receivable		28			28
Deferred offering costs		776			-
Other		19			47

Total other current assets	$	956		$	572

Accounts Payable and Accrued Liabilities.

The following table presents the components of accounts payable and accrued liabilities as of the dates indicated:

	*December 31,*
	*2025*		*2024*
	(in thousands)
Accounts payable	$	837	$	2,197
Operating expense accruals		499		2,417
Interest payable		26		172
Production taxes payable		95		653
Other		81		27

Total accounts payable and accrued expenses	$	1,538	$	5,466

Note 1 - Organization, Operations and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedules of Concentration of Risk, by Risk Factor [Table Text Block]

	*Year Ended*
	*December 31,*
Purchaser	*2025*			*2024*
Purchaser A		54	%		27	%
Purchaser B		15	%		27	%
Purchaser C		6	%		4	%

Schedule of Property and Equipment, Useful Life [Table Text Block]

	Years
Administrative assets:
Computers and software		3
Office furniture and equipment		5
Autos and trucks		5
Other equipment		10

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

	*As Previously Reported*			Adjustment for			Adjustment for		*As Revised*
	*2024*			*Production Tax*			*Commitment Fee*		*2024*
Production taxes	$	1,276		$	(63	)	$	-	$	1,213
Total operating expense		46,357			(63	)		-		46,294
Interest expense, net		(530	)		-			88		(442	)
Total other income (expense)		(26	)		-			88		62
Net loss before income taxes		25,764			63			88		25,613
Accumulated deficit, December 31, 2023		(172,134	)		318			-		(171,816	)
Accumulated deficit, December 31, 2024		(197,918	)		381			-		(197,538	)
Accounts payable and accrued liabilities		5,466			(381	)		-		5,086
Total current liabilities		12,348			(381	)		-		11,968

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Oil and Gas, Cost Incurred, Property Acquisition, Exploration, and Development [Table Text Block]

	*2025*		*2024*
	(in thousands)
Proved property acquisition	$	-	$	-
Development ⁽¹⁾		-		1,213
Exploration		-		-

Total	$	-	$	1,213

Oil and Gas, Capitalized Cost [Table Text Block]

	*2025*			*2024*
	(in thousands)
Oil and Natural Gas Properties:
Evaluated properties in full cost pool (1)		132,459			142,029
Less accumulated depletion (2)		(117,237	)		(112,958	)

Net capitalized costs	$	15,222		$	29,071

Oil and Gas, Result of Operation, Producing Activity [Table Text Block]

	*2025*			*2024*
	(in thousands)
Oil and natural gas sales	$	7,353		$	20,619
Lease operating expense		(5,174	)		(11,160	)
Gathering, treating, and transportation costs		(59	)		(205	)
Production taxes		(539	)		(1,213	)
Depletion		(2,261	)		(6,369	)
Income tax (expense) benefit		(6	)		(20	)

Results of operations from oil and natural gas producing activities	$	(686	)	$	1,652

Oil and Gas, Proved Reserve, Quantity [Table Text Block]

	*2025*						*2024*
	*Oil*			*Gas*			*Oil*			*Gas*
	*(bbls)*			(mcfe) ⁽¹⁾			*(bbls)*			(mcfe) ⁽¹⁾

Total proved reserves:
Reserve quantities, beginning of year		1,592,306			2,306,915			3,182,861			10,082,386
Revisions of previous estimates		(120,898	)		220,809			(515,318	)		(2,546,079	)
Discoveries and extensions		-			-			-			-
Purchases of minerals in place		-			-			-			-
Sale of minerals in place		(271,457	)		(27,997	)		(819,071	)		(4,271,067	)
Production		(112,797	)		(311,729	)		(256,166	)		(958,325	)

Reserve quantities, end of year		1,087,155			2,187,999			1,592,306			2,306,915

Oil and Gas, Average Sale Price and Production Cost [Table Text Block]

	*2025*		*2024*

Oil per Bbl	$	65.34	$	75.48
Gas per Mmbtu	$	3.39	$	2.13

Oil and Gas, Standardized Measure, Discounted Future Net Cash Flow [Table Text Block]

	*2025*			*2024*
	(in thousands)
Future cash inflows	$	71,278		$	117,237
Future cash outflows:
Production costs		(35,496	)	$	(63,555	)
Development costs		(9,988	)		(28,142	)
Income taxes		-			-

Future net cash flows		25,794		$	25,540
10% annual discount factor		(9,066	)		(1,714	)

Standardized measure of discounted future net cash flows	$	16,728		$	23,826

Oil and Gas, Change in Standardized Measure, Discounted Future Net Cash Flow [Table Text Block]

	*2025*			*2024*
	(in thousands)
Standardized measure, beginning of year	$	23,826		$	60,282
Sales of oil and natural gas, net of production costs		(1,581	)		(7,978	)
Net changes in prices and production costs		(4,829	)		(1,303	)
Changes in estimated future development costs		3,017			1,788
Sale of minerals in place		(3,577	)		(23,116	)
Revisions in previous quantity estimates		(1,089	)		(14,188	)
Previously estimated development costs incurred		231			374
Net changes in income taxes		-			2,611
Accretion of discount		2,499			6,073
Changes in timing and other		(1,770	)		(717	)

Standardized measure, end of year	$	16,727		$	23,826

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

Note 7 - Commodity Derivatives (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Derivative Instruments, Gain (Loss) [Table Text Block]

	*December 31,*
	*2025*		*2024*
	(in thousands)
Commodity derivative settlement gains (losses):
Oil contracts	$	-	$	2,381

Total derivative settlement gains (losses)	$	-	$	2,381

Total net commodity derivative gains (losses):
Oil contracts	$	-	$	537

Total net commodity derivative gains (losses)	$	-	$	537

Note 13 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	*December 31,*
	*2025*			*2024*

Number of shares owned		32,282			2,421,180
Quoted market price	$	5.14173		$	0.06256
Share value	$	165,985		$	151,475
Estimated cost to sell shares		(20,000	)		(20,000	)
Fair Value	$	145,985		$	131,475

Note 10 - Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

				*Weighted-Avg.*
				*Grant Date*
				*Fair Value*
	*Shares*			*per Share*

Non-vested restricted stock at December 31, 2024		1,450,695		$	1.41
Granted		1,140,000		$	2.03
Vested		(1,086,015	)	$	1.56
Modifications (accelerated vesting)		-		$	-
Forfeited		(76,000	)	$	2.03
Non-vested restricted stock at December 31, 2025		1,428,680		$	2.03

Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	*Year Ended*
	*December 31,*
	*2025*		*2024*
	(in thousands)
Stock compensation expense	$	1,853	$	1,268

Class of Treasury Stock [Table Text Block]

	*Year Ended December 31,*
	*2025*		*2024*
	(in thousands except per share amounts)
Shares repurchased		197		617
Weighted average price per share	$	1.604	$	1.183
Value of shares repurchased	$	316	$	730

Note 8 - Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Asset Retirement Obligations [Table Text Block]

	*Year Ended December 31,*
	*2025*			*2024*
	(in thousands)
Balance, beginning of year	$	14,083		$	18,490
Acquired		26			2
Cost and life revisions		(1,304	)		(150	)
Settlements		(232	)		(374	)
Liabilities related to disposition		(5,571	)		(5,435	)
Accretion		1,004			1,550
Balance, end of year	$	8,006		$	14,083

Asset retirement obligations - current	$	300		$	1,000
Asset retirement obligations - noncurrent		7,706			13,083
Balance, end of year	$	8,006		$	14,083

Note 16 - Subsequent Events (Details Textual) - USD ($) shares in Thousands, $ in Thousands	2 Months Ended	3 Months Ended	12 Months Ended
	Mar. 15, 2026	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2024
Impairment, Oil and Gas, Property with Unproved and Proved Reserves			$ 3,628	$ 11,918
Forecast [Member] \| Minimum [Member]
Impairment, Oil and Gas, Property with Unproved and Proved Reserves		$ 500
Forecast [Member] \| Maximum [Member]
Impairment, Oil and Gas, Property with Unproved and Proved Reserves		$ 1,500
Common Stock Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)			0
Subsequent Event [Member] \| Common Stock Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	8,500
Proceeds from Issuance or Sale of Equity	$ 9,300

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted [Flag]	true

Note 3 - Revenue From Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*Year Ended*
	*December 31,*
	*2025*		*2024*
	(in thousands)
Revenue:
Rockies
Oil	$	5,099	$	7,366
Natural gas and liquids		178		189
Total		5,277		7,555

West Texas, South Texas, and Gulf Coast
Oil		754		5,276
Natural gas and liquids		16		117
Total		770		5,393

Mid-Continent
Oil		525		5,523
Natural gas and liquids		781		2,148
Total		1,306		7,671

Total revenue	$	7,353	$	20,619

Note 14 - Other Current Assets and Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Other Current Assets [Table Text Block]

	*December 31,*
	*2025*			*2024*
	(in thousands)
Prepaid expense	$	164		$	119
Joint interest billings receivable, net of allowance of $380 and $100 as of December 31, 2025 and 2024, respectively		(31	)		378
Income tax receivable		28			28
Deferred offering costs		776			-
Other		19			47

Total other current assets	$	956		$	572

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

	*December 31,*
	*2025*		*2024*
	(in thousands)
Accounts payable	$	837	$	2,197
Operating expense accruals		499		2,417
Interest payable		26		172
Production taxes payable		95		653
Other		81		27

Total accounts payable and accrued expenses	$	1,538	$	5,466

Note 1 - Organization, Operations and Significant Accounting Policies - Schedule of Property, Plant, and Equipment by Useful Life (Details)	Dec. 31, 2025
Computers and Software [Member]
Useful life (Year)	3 years
Furniture and Fixtures [Member]
Useful life (Year)	5 years
Vehicles [Member]
Useful life (Year)	5 years
Property, Plant and Equipment, Other Types [Member]
Useful life (Year)	10 years

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include oil and natural gas reserves that are used in the calculation of depreciation, depletion, amortization and impairment of the carrying value of proved oil and natural gas properties, and the cost and timing of future asset retirement obligations. The Company evaluates its estimates on an on-going basis and bases its estimates on historical experience and on various other assumptions the Company believes to be reasonable. Due to inherent uncertainties, including the future prices of oil and natural gas, these estimates could change in the near term and such changes could be material.

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

The accompanying consolidated financial statements have been prepared in conformity with GAAP and include the accounts of U.S. Energy Corp. and its wholly-owned subsidiaries. U.S. Energy Corp. accounts for its share of oil and natural gas exploration and production activities, and industrial gas activities in which it has a direct working interest, by reporting its proportionate share of assets, liabilities, revenues, costs, and cash flows within the relevant lines on the consolidated balance sheets, statements of operations, and statements of cash flows. All inter-company balances and transactions have been eliminated in consolidation.

Segment Reporting, Policy [Policy Text Block]

Industry Segment and Geographic Information

The Company operates primarily in the exploration and production segment of the oil and gas industry, conducting onshore operations within the United States. All current revenues are derived from the production and sale of oil and natural gas.

In addition, the Company has commenced development activities related to industrial gas assets. These activities are currently in the development stage and have not yet generated revenues. Development activities primarily consist of resource evaluation, permitting, engineering and related capital expenditures.

The Company manages its operations as a single reportable segment under ASC 280 Segment Reporting. The Company’s Chief Executive Officer serves as the Chief Operating Decision Maker (“CODM”) and reviews financial information on a consolidated basis for purposes of allocating resources and assessing performance. While industrial gas development costs and capital expenditures are tracked separately for internal project management purposes, such activities do not currently constitute a separate operating segment, as discrete operating results are not reviewed by the CODM and no revenues have been generated.

The Company’s principal oil and natural gas properties and operations are located in:

●

The Rockies region (Montana and Wyoming)

●

The Mid-Continent region (Oklahoma and North and East Texas)

●

West Texas, South Texas, and the Gulf Coast region

The CODM evaluates performance primarily based on operating income (loss), defined as revenues less lease operating expenses. Other significant items reviewed include total assets, depreciation, depletion and amortization (“DD&A”), general and administrative expense, gain or loss on derivative activity, interest expense and income tax expense (benefit). These amounts are presented in the Consolidated Balance Sheets and Consolidated Statements of Operations.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Equivalents

The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash and cash equivalents potentially subject the Company to a concentration of credit risk as substantially all of its deposits held in financial institutions were in excess of the federal deposit insurance limits as of December 31, 2025 and 2024. The Company maintains its cash and cash equivalents in the form of checking accounts or short-term investments with financial institutions that it believes are creditworthy. The Company's checking accounts are with the same financial institution as its credit facility.

Receivable [Policy Text Block]

Oil and Natural Gas Receivables

The Company’s oil and natural gas sales receivables consist of receivables from purchasers of the Company’s operated oil, natural gas, and natural gas liquids (“NGLs”) sales. Generally, the Company’s oil, natural gas and NGL sales receivables from operated properties are collected within one month. The Company also has joint operating agreements as a non-operator of oil and natural gas properties. Generally, receivables, if any, from the joint interest operator are collected within one to three months. The Company monitors the credit quality of its counterparties through review of collections, credit ratings, and other analyses as appropriate given relevant facts and circumstances. The Company develops its estimated allowance for credit losses primarily using an aging method and analyses of historical loss rates as well as consideration of current and future conditions that could impact its counterparties’ credit quality and liquidity. Receivables are not collateralized. For the year ended December 31, 2025, the Company recognized $280 thousand of expense related to its joint interest accounts receivable, increasing the allowance for credit losses to $380 thousand as of December 31, 2025 from $100 thousand as of December 31, 2024. No write offs, recoveries, or other adjustments were recorded in 2025 or 2024. The balance of the oil and natural gas sales receivable reported on the Consolidated Balance Sheets is comprised entirely of receivables associated with sales under contracts with customers.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk

The Company has exposure to credit risk in the event of nonpayment of oil and natural gas receivables by purchasers of the Company’s share of oil and natural gas production and its operated production. The following table presents the purchasers that accounted for 10% or more of the Company’s total oil and natural gas revenue for at least one of the periods presented:

	*Year Ended*
	*December 31,*
Purchaser	*2025*			*2024*
Purchaser A		54	%		27	%
Purchaser B		15	%		27	%
Purchaser C		6	%		4	%

Marketable Securities, Policy [Policy Text Block]

Marketable Equity Securities

Marketable equity securities are reported at fair value based on end of period quoted prices adjusted for selling expenses. Changes in fair value are recorded in other income (expense), net on the Consolidated Statements of Operations at the end of each reporting period. Gains or losses from sales of marketable equity securities are recorded in other income (expense), net on the Consolidated Statements of Operations when the sale is completed.

Oil and Gas Properties Policy [Policy Text Block]

Oil and Natural Gas Properties

The Company follows the full cost method of accounting for its oil and natural gas properties. Under the full cost method, all costs associated with the acquisition, exploration and development of oil and natural gas properties are capitalized and accumulated in a country-wide cost center. This includes any internal costs that are directly related to development and exploration activities but does not include any costs related to production, general corporate overhead or similar activities. The sum of net capitalized costs and estimated future development and dismantlement costs for each cost center are subject to depreciation, depletion and amortization (“DD&A”) using the equivalent unit-of-production method, based on total proved oil and natural gas reserves. For consolidated financial statement presentation, DD&A includes accretion expense related to asset retirement obligations. Cost associated with unevaluated properties, if any, are excluded from amounts subject to DD&A.

Under the full cost method, net capitalized costs are limited to the lower of unamortized cost reduced by the related net deferred tax liability, or the cost center ceiling (the “Ceiling Test”). The cost center ceiling is defined as the sum of (i) estimated future net revenue, discounted at 10% per annum, from proved reserves, based on average prices per barrel of oil and per Mcf of natural gas at the first day of each month in the 12-month period prior to the end of the reporting period; and costs, adjusted for contract provisions and financial derivatives qualifying as accounting hedges and asset retirement obligations, (ii) the cost of unevaluated properties not being amortized, and (iii) the lower of cost or market value of unproved properties included in the cost being amortized, reduced by (iv) the income tax effects related to differences between the book and tax basis of the crude oil and natural gas properties. If the net book value reduced by the related net deferred income tax liability (if any) exceeds the cost center ceiling limitation, a non-cash impairment charge is required in the period in which the impairment occurs. Since all of the Company’s oil and natural gas properties are located within the United States, the Company only has one cost center for which a quarterly Ceiling Test is performed.

Industrial Gas Properties Policy [Policy Text Block]

Industrial Gas Properties

The Company capitalizes all costs associated with the acquisition, exploration and development of industrial gas properties. The acquisition of leases, cost of acquiring drilling permits, drilling, development and asset retirement costs are capitalized as exploration and unevaluated properties. When commercially viable quantities of industrial gas reserves are discovered, the associated costs are reclassified to evaluated assets. The Company will periodically assess exploration and unevaluated properties, and upon evaluation, will reclass the properties to evaluated. Any additional costs to develop the properties or to construct infrastructure to produce and process industrial gases, including processing plant construction costs, will also be capitalized as evaluated. Interest expense, if any, is capitalized on qualifying expenditures. Evaluated industrial gas properties are subject to DD&A once production commences utilizing the units of production method. Evaluated industrial gas properties are stated at cost, less accumulated depletion, depreciation and amortization.

The carrying value of the evaluated properties is reviewed for impairment when there are indications that it may not be recoverable due to significant and prolonged declines in prices, significant reductions in estimated resources, changes in the Company’s plans or other significant events that indicate that an impairment may exist. If any such indication of impairment exists and the sum of the undiscounted cash flows is less than the carrying value of the evaluated property, the carrying value is reduced to estimated fair value and reported as an impairment charge in the period with a reduction in the associated carrying cost. Individual evaluated properties are grouped for impairment purposes at the lowest level for which there are identifiable cash flows. The fair value of impaired property is typically determined based on the present value of expected future cash flows using discount rates believed to be consistent with market participants. The impairment test incorporates several assumptions involving expectations of future cash flows which can change significantly over time. These assumptions include estimates of future production, future contracted industrial gas prices, estimates of future operating and development costs.

Business Combination [Policy Text Block]

Acquisitions

The Company accounts for acquisitions as business combinations if the acquired assets meet the definition of a business. If substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or a group of similar assets, the acquisition is not considered a business and is accounted for as an asset acquisition. This determination of whether the gross assets acquired are concentrated in a group of similar assets is based on whether the risks associated with managing and creating outputs from the assets are similar.

Discontinued Operations, Policy [Policy Text Block]

Divestitures

For divestitures involving oil and natural gas assets included in the full cost pool, the Company evaluates if a given divestment has a significant impact to either our reserves volumes or the full cost pool unit-of-production depletion rate. If a divestiture has a significant impact to reserves volumes or the full cost pool depletion rate, the Company will consider if recognizing a gain or loss on the transaction is appropriate. If a divestiture does not have a significant impact to reserves volumes or the full cost pool depletion rate, the Company records proceeds, net of transaction costs and purchase price adjustments, to the full cost pool, with no gain or loss recognized on the Consolidated Statements of Operations. Relief of any associated asset retirement obligation is also recorded to the full cost pool. Revenues and expenditures are recorded following our standard accounting policies until the divestment closes.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Administrative assets are carried at cost. Depreciation of administrative assets are provided principally by the straight-line method over estimated useful lives as follows:

	Years
Administrative assets:
Computers and software		3
Office furniture and equipment		5
Autos and trucks		5
Other equipment		10

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets

The Company evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount may not be recoverable. If estimated future cash flows, on an undiscounted basis, are less than the carrying amount of the related asset, an asset impairment charge is recognized, and measured as the amount by which the carrying value exceeds the estimated fair value. Changes in significant assumptions underlying future cash flow estimates may have a material effect on the Company’s financial position and results of operations.

Lessee, Leases [Policy Text Block]

Leases

The Company accounts for leases in accordance with Accounting Standards Codification (“ASC”) Topic 842, Leases, (“Topic 842”), which requires lessees to recognize operating and finance leases with terms greater than 12 months on the Consolidated Balance Sheets. The Company evaluates a contractual arrangement at its inception to determine if it is a lease or contains an identifiable lease component. Certain leases may contain both lease and non-lease components. The Company’s policy for all asset classes is to combine lease and non-lease components together and account for the arrangement as a single lease.

Certain assumptions and judgments are made by the Company when evaluating a contract that meets the definition of a lease under Topic 842, which include those to determine the discount rate and lease term. Unless the discount rate can be determined in the lease agreement, the Company determines the present value of the future lease payments using an estimated incremental borrowing rate at the lease inception. The Company evaluates each contract containing a lease arrangement at inception to determine the length of the lease term when recognizing a right-of-use (“ROU”) asset and corresponding lease liability. The Company excludes from the Consolidated Balance Sheets leases with terms that are less than one year.

A ROU asset represents a lessee’s right to use an underlying asset for the lease term, while the associated lease liability represents the lessee’s obligations to make lease payments. At the commencement date a lease ROU asset and corresponding lease liability is recognized based on the present value of the future lease payments. The initial measurement excludes certain variable lease payments, such as payments that vary depending on actual usage.

Derivatives, Policy [Policy Text Block]

Derivative Financial Instruments

The Company periodically enters into commodity derivative instruments to mitigate a portion of its exposure to oil price volatility for its expected future oil production. The Company does not designate commodity derivative contracts as fair value or cash flow hedges, and therefore the contracts do not qualify for hedge accounting treatment. Changes in fair value of derivative contracts are recorded in the Consolidated Statement of Operations in other income (expense). The fair value of derivative contracts is recorded as either an asset or a liability on the Consolidated Balance Sheet.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

The Company derives revenue from the sale of produced oil, natural gas and NGLs. Revenue is recognized at the point in time when custody and title of the product transfers to the purchaser, which may differ depending on the applicable contractual terms. Revenue accruals are recorded based on the Company’s share of estimated production and the expected price to be received. The Company uses its knowledge of its properties, contractual arrangements, historical performance, NYMEX differentials, and other factors as the basis of these estimates. Variances between estimates and the actual amounts received are recorded in the month payment is received.

The Company does not disclose the values of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. The exemption applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to the remaining performance obligations is not required.

The Company reports revenue as its proportionate share of the gross amount received before taking into account transportation costs. Production taxes and gathering, transportation, and treating costs are reported separately on the Consolidated Statements of Operations.

Asset Retirement Obligation [Policy Text Block]

Asset Retirement Obligations

The Company records the estimated fair value of restoration and reclamation liabilities related to its oil and natural gas and industrial gas properties as of the date that the liability is incurred. The Company reviews the liability each quarter and determines if a change in estimate is required, and accretion of the discounted liability is recorded based on the passage of time. The Company deducts any actual funds expended for restoration and reclamation during the quarter in which it occurs.

Share-Based Payment Arrangement [Policy Text Block]

Stock-Based Compensation

The Company measures the cost of employee and director services received in exchange for all equity awards granted, including stock options, based on the fair value of the award as of the grant date. The Company's policy is to compute the fair values of any options granted to employees using the Black-Scholes option pricing model unless the fair value is expected to be inconsequential. The Company recognizes the cost of the equity awards over the period during which an employee or director is required to provide services in exchange for the award, usually the vesting period. Forfeitures are recognized as they occur. Unvested shares of restricted stock grants are not included in common shares outstanding until vesting has occurred.

Income Tax, Policy [Policy Text Block]

Income Taxes

The Company recognizes deferred income tax assets and liabilities for the expected future income tax consequences, based on enacted tax laws, of temporary differences between the financial reporting and tax bases of assets, liabilities and carry forwards.

Additionally, the Company recognizes deferred tax assets for the expected future effects of all deductible temporary differences, loss carry forwards, and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance for any tax benefits that, based on current circumstances, are considered more likely than not they will not be realized. As of December 31, 2025 and 2024, management did not believe it was more likely than not that such a tax benefit would be realized and as such, a valuation allowance has been recorded. In assessing the need for a valuation allowance for the Company’s deferred tax assets, a significant item of negative evidence considered was the cumulative book loss over the three-year period ended December 31, 2025.

The Company assesses its tax positions annually to determine if there are any uncertain tax positions. If an uncertain tax position is identified, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that is probable of being realized upon ultimate settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination.

Earnings Per Share, Policy [Policy Text Block]

Income (Loss) Per Share

Basic net income (loss) per share is computed based on the weighted average number of common shares outstanding. Diluted net income (loss) per share is calculated by dividing net income or loss by the diluted weighted average common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of in-the-money outstanding stock options, and unvested restricted stock. When there is a loss from continuing operations, all potentially dilutive shares are anti-dilutive and are excluded from the calculation of net income (loss) per share. The treasury stock method is used to measure the dilutive impact of unvested restricted stock and in-the-money stock options.

Error Correction [Policy Text Block]

Impact of Immaterial Error Corrections

The following table summarizes the impact of the corrections (in thousands):

	*As Previously Reported*			Adjustment for			Adjustment for		*As Revised*
	*2024*			*Production Tax*			*Commitment Fee*		*2024*
Production taxes	$	1,276		$	(63	)	$	-	$	1,213
Total operating expense		46,357			(63	)		-		46,294
Interest expense, net		(530	)		-			88		(442	)
Total other income (expense)		(26	)		-			88		62
Net loss before income taxes		25,764			63			88		25,613
Accumulated deficit, December 31, 2023		(172,134	)		318			-		(171,816	)
Accumulated deficit, December 31, 2024		(197,918	)		381			-		(197,538	)
Accounts payable and accrued liabilities		5,466			(381	)		-		5,086
Total current liabilities		12,348			(381	)		-		11,968

Note 10 - Shareholders' Equity - Restricted Stock Activity (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2025 $ / shares shares
Non-vested restricted stock (in shares) \| shares	1,450,695
Non-vested restricted stock, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 1.41
Granted (in shares) \| shares	1,140,000
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 2.03
Vested (in shares) \| shares	(1,086,015)
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 1.56
Modifications (accelerated vesting) (in shares) \| shares	0
Modifications (accelerated vesting), weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0
Forfeited (in shares) \| shares	(76,000)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 2.03
Non-vested restricted stock (in shares) \| shares	1,428,680
Non-vested restricted stock, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 2.03

Note 11 - Income Taxes - Schedule of Components of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Federal	$ 0	$ 0
State	6	36
Total current income tax	6	36
Federal	0	456
State	0	(472)
Total deferred income taxes	0	(16)
Income tax expense (benefit)	$ 6	$ 20

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Note 13 - Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Fair Value Disclosures [Text Block]

13. FAIR VALUE MEASUREMENTS

The Company’s fair value measurements are estimated pursuant to a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, giving highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability, and may affect the valuation of the assets and liabilities and their placement within the hierarchy level. The three levels of inputs that may be used to measure fair value are defined as:

Level 1 - Quoted prices for identical assets and liabilities traded in active markets.

Level 2 - Observable inputs other than Level 1 that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in active markets, or other observable inputs that can be corroborated by observable market data.

Level 3 - Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following is a description of the valuation methodologies used for complex financial instruments measured at fair value:

Marketable Equity Securities Valuation Methodologies

We measure the fair value of marketable equity securities based on quoted market prices obtained from independent pricing services. The Company has an investment in the marketable equity securities of Anfield Energy (“Anfield”), which it acquired as consideration for sales of certain mining operations. Anfield is traded in an active market under the trading symbol AEC:TSXV and has been classified as Level 1.

	*December 31,*
	*2025*			*2024*

Number of shares owned		32,282			2,421,180
Quoted market price	$	5.14173		$	0.06256
Share value	$	165,985		$	151,475
Estimated cost to sell shares		(20,000	)		(20,000	)
Fair Value	$	145,985		$	131,475

Credit Facility

The Company’s credit facility approximates fair value because the interest rate is variable and reflective of market rates.

Other Financial Instruments

The carrying value of financial instruments included in current assets and current liabilities approximate fair value due to the short-term nature of those instruments.

Nonrecurring Fair Value Measurements

Asset Retirement Obligations

The Company measures the fair value of asset retirement obligations as of the date a well is acquired, the date a well begins drilling, or the date the Company revises its ARO assumptions. The Company’s estimated asset retirement obligation is based on historical experience in plugging and abandoning wells, estimated economic lives, estimated plugging and abandonment costs and federal and state regulatory requirements, all unobservable inputs, and therefore, are designated as Level 3 within the valuation hierarchy. The liability is discounted using the credit-adjusted risk-free rate estimated at the time the liability is incurred or revised upward. The credit adjusted risk-free rate used to discount the Company’s plugging and abandonment liabilities range from 7.30% to 19.00%.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Note 12 - Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*2025*			*2024*
	(in thousands except per share data)
Net income (loss) attributable to common shareholders	$	(14,374	)	$	(25,633	)

Basic weighted-average common shares outstanding		33,820			26,720
Dilutive effect of potentially dilutive securities		-			-
Diluted weighted-average common shares outstanding		33,820			26,720

Basic net loss per share	$	(0.43	)	$	(0.96	)
Diluted net loss per share	$	(0.43	)	$	(0.96	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	*2025*		*2024*
	(in thousands)
Stock options		17		22
Unvested shares of restricted stock		1,429		1,451

Total		1,446		1,473

Note 10 - Shareholders' Equity - Activity in Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Shares repurchased (in shares)	197	617
Weighted average price per share (in dollars per share)	$ 1.604	$ 1.183
Value of shares repurchased	$ 316	$ 730

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Note 2 - Acquisitions - Asset Acquisitions (Details) (Parentheticals)	Jan. 07, 2025 shares
Synergy Offshore Acreage [Member]
Shares issued (in shares)	1,400,000

Note 6 - Debt

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Debt Disclosure [Text Block]

6. DEBT

On January 5, 2022, the Company entered into a four-year credit agreement (“Credit Agreement”) with FirstBank Southwest (“FirstBank”) as administrative agent for one or more lenders (the “Lenders”), which provided for a revolving line of credit with an initial borrowing base of $15 million, and a maximum credit amount of $100 million. Borrowings under the Credit Agreement are collateralized by a first priority, perfected lien and security interests on substantially all assets of the Company (subject to permitted liens and other customary exceptions). On July 26, 2022, the Company entered into a letter agreement with FirstBank whereby it increased the borrowing base under the Credit Agreement from $15 million to $20 million. Under the Credit Agreement, revolving loans may be borrowed, repaid and re-borrowed until January 5, 2026, when all outstanding amounts must be repaid.

On September 16, 2025, effective August 1, 2025, the Company entered into a First Amendment to Credit Agreement and Limited Waiver ("Amendment") with FirstBank, as administrative agent for the lenders party thereto, and such lenders. Significant revisions made to the Credit Amendment as a result of the Amendment include extending the maturity date of amounts owed from January 5, 2026 to May 31, 2029, lowering the borrowing base from $20 million to $10 million and deferring the next test period for the ratio of total debt to EBITDAX to March 31, 2026. During 2025, the Company expensed $53 thousand of remaining capitalized deferred financing costs associated with the Credit Agreement and capitalized $60 thousand of deferred financing costs attributable to the Amendment.

Under the Credit Agreement, revolving loans may be borrowed, repaid and re-borrowed until May 31, 2029, when all outstanding amounts must be repaid. Interest on the outstanding amounts under the Credit Agreement will accrue at an interest rate equal to the greater of (i) the prime rate in effect on such day, and (ii) the Federal Funds rate in effect on such day (as determined in the Credit Agreement) plus 0.50%, and an applicable margin that ranges between 0.25% to 1.25% depending on utilization of the amount of the borrowing base (the “Applicable Margin”). In addition, there is a fee on the unused borrowing commitment of 0.5%.

Interest charges recognized on the Credit Agreement, excluding debt issuance cost amortization and the fee for the unused commitment, and the weighted average interest rates for the years ended December 31, 2025 and 2024 are presented in the following table:

	*December 31,*
	*2025*			*2024*
	(in thousands)
Interest charges	$	26		$	309
Weighted average interest rate		7.8	%		9.2	%

The Credit Agreement contains various restrictive covenants and compliance requirements, which include: (i) maintenance of certain financial ratios, as defined in the Credit Agreement tested quarterly, that limit the Company’s ratio of total debt to EBITDAX (as defined in the Credit Agreement) to 3:1 and require its ratio of consolidated current assets to consolidated current liabilities (as each is described in the Credit Agreement) to remain at 1:1 or higher; (ii) restrictions on making certain payments as defined in the Credit Agreement, including the payment of cash dividends and repurchases of equity interests (subject to certain limited rights to make restricted payments as long as no event of default has occurred, or would result from the restricted payment, certain financial ratios are met and the borrowing availability after giving pro forma effect to any borrowing to be made on the date of the restricted payment is greater than, or equal to, 20% of the then existing borrowing base); (iii) limits on the incurrence of additional indebtedness; (iv) a prohibition on the entry into commodity swap contracts exceeding a specified percentage of our expected production; and (v) restrictions on the disposition of assets.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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-Paragraph 8A
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+ Details

Note 1 - Organization, Operations and Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Accounts Receivable, Credit Loss Expense (Reversal)	$ 280
Accounts Receivable, Allowance for Credit Loss	$ 380	$ 100
Number of Reportable Segments	1
Number of Operating Segments	1
Reclassification From Acquisition Costs to Exploration Expense [Member]
Prior Period Reclassification Adjustment		$ 369

Note 8 - Asset Retirement Obligations (Details Textual) $ in Thousands	Dec. 31, 2025 USD ($)
Asset Retirement Obligation, Legally Restricted Assets, Fair Value	$ 0

Note 4 - Leases - Schedule of Operating Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
2026	$ 224
2027	210
Total future lease payments	434
Less: imputed interest	(18)
Total lease liability	$ 416	$ 611

Note 7 - Commodity Derivatives (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Gain (Loss) on Sale of Commodity Contracts	$ 1,800
Commodity Contract [Member]
Derivative Asset, Current	$ 0	$ 0

Note 4 - Leases (Details Textual) - Lease Agreement for Office Space in Houston, Texas [Member]	May 31, 2022 $ / item
Lessee, Operating Lease, Term of Contract (Year)	67 years
Base Rent Per Area (in USD per Per Share)	0.5

Note 5 - Oil and Natural Gas Producing Activities

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Oil and Gas, Property and Equipment [Text Block]

5. OIL AND NATURAL GAS PRODUCING ACTIVITIES

Unevaluated Properties

As of December 31, 2025 and 2024, the Company had no unevaluated oil and natural gas properties.

Ceiling Test and Impairment

For the year ended December 31, 2025 and 2024, the Company recorded $3.6 million and $11.9 million, respectively, of ceiling test write-downs of its oil and natural gas properties. The impairment resulted from declines in commodity prices used in the ceiling test calculation and reduced the carrying value of oil and natural gas properties.

The reserves used in the ceiling test incorporate assumptions regarding pricing and discount rates over which management has no influence in the determination of present value. In the calculation of the ceiling test as of December 31, 2025, the Company used $65.34 per barrel for oil and $3.39 per one million British Thermal Units (MMbtu) for natural gas (as further adjusted for property, specific gravity, quality, local markets and distance from markets) to compute the future cash flows of the Company’s producing properties. In the calculation of the ceiling test as of December 31, 2024, the Company used $75.48 per barrel for oil and $2.13 per one million British Thermal Units (MMbtu) for natural gas (as further adjusted for property, specific gravity, quality, local markets and distance from markets) to compute the future cash flows of the Company’s producing properties. The discount factor used for both years was 10%.

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2025	Mar. 06, 2026	Jun. 30, 2025
Document Information [Line Items]
Entity Central Index Key	0000101594
Entity Registrant Name	US ENERGY CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2025
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Document Transition Report	false
Entity File Number	000-06814
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0205516
Entity Address, Address Line One	1616 S. Voss Rd., Suite 725
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77057
City Area Code	346
Local Phone Number	509-8734
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	USEG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 19,139,919
Entity Common Stock, Shares Outstanding		44,269,192
Auditor Firm ID	410
Auditor Name	WEAVER AND TIDWELL, L.L.P.
Auditor Location	Houston, Texas

Note 2 - Acquisitions - Asset Acquisitions (Details) - Synergy Offshore Acreage [Member] $ in Thousands	Jan. 07, 2025 USD ($)
Cash	$ 2,000
Value of 1,400,000 shares issued	2,632
Transaction costs	325
Total consideration paid	4,957
Unproved industrial gas properties	$ 4,957

Note 8 - Asset Retirement Obligations

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

8. ASSET RETIREMENT OBLIGATIONS

The Company has asset retirement obligations (“ARO”) associated with the future plugging and abandonment of industrial gas and oil and natural gas properties. Initially, the fair value of a liability for an ARO is recorded in the period in which the ARO is incurred with a corresponding increase in the carrying amount of the related asset. The liability is accreted to its present value each period and the capitalized cost is depleted over the life of the related asset. For oil and natural gas properties, if the liability is settled for an amount other than the recorded amount, an adjustment to the full-cost pool is recognized. The Company had no assets that are restricted for the purpose of settling ARO. For industrial gas properties, if the liability is settled for an amount other than the recorded amount, an adjustment to operating expenses in the Consolidated Statement of Operations is recognized.

In the fair value calculation for the ARO there are numerous assumptions and judgments including the ultimate retirement cost, inflation factors, credit-adjusted risk-free discount rates, timing of retirement and changes in legal, regulatory, environmental, and political environments. To the extent future revisions to assumptions and judgments impact the present value of the existing ARO, a corresponding adjustment is made to the oil and natural gas or industrial gas property balance.

The following is a reconciliation of the changes in the Company’s liabilities for asset retirement obligations for the years ended December 31, 2025 and 2024:

	*Year Ended December 31,*
	*2025*			*2024*
	(in thousands)
Balance, beginning of year	$	14,083		$	18,490
Acquired		26			2
Cost and life revisions		(1,304	)		(150	)
Settlements		(232	)		(374	)
Liabilities related to disposition		(5,571	)		(5,435	)
Accretion		1,004			1,550
Balance, end of year	$	8,006		$	14,083

Asset retirement obligations - current	$	300		$	1,000
Asset retirement obligations - noncurrent		7,706			13,083
Balance, end of year	$	8,006		$	14,083

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Schedule of Capitalized Oil and Gas Costs (Details) - USD ($)
$ in Thousands

Dec. 31, 2025

Dec. 31, 2024

Evaluated properties in full cost pool (1)

^[1]

$ 132,459

$ 142,029

Less accumulated depletion (2)

(117,237)

(112,958)

Net capitalized costs

$ 15,222

$ 29,071

[1]	Depletion expense was $2.3 million ($21.89 per barrels of oil equivalent (BOE) and $6.4 million ($19.64 per BOE) for the years ended December 31, 2025 and 2024, respectively.

Note 3 - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue	$ 7,353	$ 20,619
Oil Sales[Member]
Revenue	6,378	18,165
Natural Gas, Midstream [Member]
Revenue	975	2,454
Rockies [Member]
Revenue	5,277	7,555
Rockies [Member] \| Oil Sales[Member]
Revenue	5,099	7,366
Rockies [Member] \| Natural Gas, Midstream [Member]
Revenue	178	189
West Texas, South Texas, and Gulf Coast [Member]
Revenue	770	5,393
West Texas, South Texas, and Gulf Coast [Member] \| Oil Sales[Member]
Revenue	754	5,276
West Texas, South Texas, and Gulf Coast [Member] \| Natural Gas, Midstream [Member]
Revenue	16	117
Mid-Continent [Member]
Revenue	1,306	7,671
Mid-Continent [Member] \| Oil Sales[Member]
Revenue	525	5,523
Mid-Continent [Member] \| Natural Gas, Midstream [Member]
Revenue	$ 781	$ 2,148

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Note 12 - Income (Loss) Per Share

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

12. INCOME (LOSS) PER SHARE

Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net income (loss) per common share is calculated by dividing adjusted net income (loss) by the diluted weighted average number of common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of stock options and unvested shares of restricted common stock, which are measured using the treasury stock method. When the Company recognizes a net loss, as was the case for the years ended December 31, 2025 and 2024, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of dilutive net loss per common share.

The following table sets forth the calculation of basic and diluted net income (loss) per share for the years ended December 31, 2025 and 2024:

	*2025*			*2024*
	(in thousands except per share data)
Net income (loss) attributable to common shareholders	$	(14,374	)	$	(25,633	)

Basic weighted-average common shares outstanding		33,820			26,720
Dilutive effect of potentially dilutive securities		-			-
Diluted weighted-average common shares outstanding		33,820			26,720

Basic net loss per share	$	(0.43	)	$	(0.96	)
Diluted net loss per share	$	(0.43	)	$	(0.96	)

For the years ended December 31, 2025 and 2024, potentially dilutive securities were excluded from the calculation of weighted average shares because they were anti-dilutive are as follows:

	*2025*		*2024*
	(in thousands)
Stock options		17		22
Unvested shares of restricted stock		1,429		1,451

Total		1,446		1,473

Note 15 - Supplemental Disclosures of Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	*Year Ended*
	*December 31,*
	*2025*			*2024*
	(in thousands)
Cash paid for interest	$	26		$	605

Investing activities:
Change in capital expenditure accruals		(1,554	)		(165	)
Common stock issued for acquisition of properties		2,632			2,678
Asset retirement obligations (acquired, revisions, sold, and plugged wells)		(6,985	)		(5,957	)
Financing activities:
Shares issued for underwriter fee		270			-
Accrued costs of financing		180			-

Note 1 - Organization, Operations and Significant Accounting Policies - Concentration of Credit Risk (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member]	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Purchaser A [Member]
Concentration risk, percentage	54.00%	27.00%
Purchaser B [Member]
Concentration risk, percentage	15.00%	27.00%
Purchaser C [Member]
Concentration risk, percentage	6.00%	4.00%

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

Note 9 - Commitments, Contingencies, and Related Party Transactions

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

9. COMMITMENTS, CONTINGENCIES, AND RELATED PARTY TRANSACTIONS

Contingencies

The Company is subject to litigation and claims arising in the ordinary course of business. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. In the opinion of management, the anticipated results of any pending litigation and claims are not expected to have a material effect on the consolidated results of operations, the financial position, or the cash flows of the Company.

Note 2 - Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Asset Acquisition [Table Text Block]

	*Amount*
	(in thousands)
Amounts incurred as of the closing date:
Cash	$	2,000
Value of 1,400,000 shares issued		2,632
Transaction costs		325
Total consideration paid	$	4,957

Allocation to acquired assets:
Unproved industrial gas properties	$	4,957

Note 1 - Organization, Operations and Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

1. ORGANIZATION, OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

Organization and Operations

U.S. Energy Corp. (and its wholly-owned subsidiaries), are referred to as the “Company” in these Notes to Consolidated Financial Statements. The Company is incorporated in the State of Delaware and its principal business activities are focused on the acquisition, exploration and development of industrial gas and oil and natural gas properties in the United States.

Use of Estimates

Principles of Consolidation

Industry Segment and Geographic Information

The Company’s principal oil and natural gas properties and operations are located in:

●

The Rockies region (Montana and Wyoming)

●

The Mid-Continent region (Oklahoma and North and East Texas)

●

West Texas, South Texas, and the Gulf Coast region

Cash and Equivalents

Oil and Natural Gas Receivables

Concentration of Credit Risk

	*Year Ended*
	*December 31,*
Purchaser	*2025*			*2024*
Purchaser A		54	%		27	%
Purchaser B		15	%		27	%
Purchaser C		6	%		4	%

Marketable Equity Securities

Oil and Natural Gas Properties

Industrial Gas Properties

Acquisitions

Divestitures

Property and Equipment

Administrative assets are carried at cost. Depreciation of administrative assets are provided principally by the straight-line method over estimated useful lives as follows:

	Years
Administrative assets:
Computers and software		3
Office furniture and equipment		5
Autos and trucks		5
Other equipment		10

Impairment of Long-Lived Assets

Leases

Derivative Financial Instruments

Revenue Recognition

Asset Retirement Obligations

Reclassification

Certain prior-year amounts have been reclassified to conform to the current-year presentation. For the year ended December 31, 2024, the Company reclassified approximately $369 thousand of acquisition costs to exploration expense within Operating expenses. This reclassification had no impact on total operating expenses, net income, cash flows, or stockholders’ equity.

Stock-Based Compensation

Income Taxes

Income (Loss) Per Share

Correction of Immaterial Errors

The Company identified two immaterial errors related to the over accrual of commitment fees on its credit facility in 2024 and production taxes in 2024 and earlier periods. The errors resulted in an overstatement of operating expenses, interest expense and Accumulated Deficit and the understatement of Other income (expense). The Company concluded the errors were not material to any previously issued financial statements including previously issued interim financial statements.

Accordingly, the Company revised the 2024 comparative financial statement amounts presented herein and recorded the cumulative effect of periods prior to 2024 as an adjustment to beginning retained deficit as of December 31, 2023.

Impact of Immaterial Error Corrections

The following table summarizes the impact of the corrections (in thousands):

	*As Previously Reported*			Adjustment for			Adjustment for		*As Revised*
	*2024*			*Production Tax*			*Commitment Fee*		*2024*
Production taxes	$	1,276		$	(63	)	$	-	$	1,213
Total operating expense		46,357			(63	)		-		46,294
Interest expense, net		(530	)		-			88		(442	)
Total other income (expense)		(26	)		-			88		62
Net loss before income taxes		25,764			63			88		25,613
Accumulated deficit, December 31, 2023		(172,134	)		318			-		(171,816	)
Accumulated deficit, December 31, 2024		(197,918	)		381			-		(197,538	)
Accounts payable and accrued liabilities		5,466			(381	)		-		5,086
Total current liabilities		12,348			(381	)		-		11,968

Note 11 - Income Taxes (Details Textual) $ in Thousands	12 Months Ended
Note 11 - Income Taxes (Details Textual) $ in Thousands	Dec. 31, 2025 USD ($)
Operating Loss Carryforwards	$ 28,100
Unrecognized Tax Benefits	$ 0
Domestic Tax Jurisdiction [Member]
Open Tax Year	2021 2022 2023 2024 2025
State and Local Jurisdiction [Member]
Open Tax Year	2020 2021 2022 2023 2024 2025
Recognized Built In Losses [Member]
Operating Loss Carryforwards	$ 10,600

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Results of Operations from Oil and Gas Producing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Oil and natural gas sales	$ 7,353	$ 20,619
Lease operating expense	(5,174)	(11,160)
Gathering, treating, and transportation costs	(59)	(205)
Production taxes	(539)	(1,213)
Depletion	(2,261)	(6,369)
Income tax (expense) benefit	(6)	(20)
Results of operations from oil and natural gas producing activities	$ (686)	$ 1,652

- Definition

Amount of depreciation, depletion, amortization, and valuation provision charged to expense in oil- and gas-producing activities.

+ References + Details

- Definition

Amount of income tax expense (benefit) in oil- and gas-producing activities.

+ References

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Amount, after income tax expense (benefit), of result of operation in oil- and gas-producing activities. Excludes corporate overhead and interest costs.

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+ Details

- Definition

Amount of revenue in oil- and gas-producing activities. Excludes royalty payment and net profit disbursement.

+ References + Details

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Discounted Future Cash Flows From Oil and Gas Reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Future cash inflows	$ 71,278	$ 117,237
Production costs	(35,496)	(63,555)
Development costs	(9,988)	(28,142)
Income taxes	0	0
Future net cash flows	25,794	25,540
10% annual discount factor	(9,066)	(1,714)
Standardized measure of discounted future net cash flows	16,727	23,826	$ 60,282
Approximation [Member]
Standardized measure of discounted future net cash flows	$ 16,728	$ 23,826

- Definition

Amount of discount on estimated future accumulated cash inflow, after future accumulated cash outflow for development and production costs and future income tax expense, for proved oil and gas reserves, using discount rate of 10 percent per year.

+ References + Details

- Definition

Amount, after discount, future accumulated cash outflow for development and production costs, and future income tax expense, of estimated future accumulated cash inflow for proved oil and gas reserves.

+ References

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+ Details

Note 4 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating lease	$ 356	$ 528
Current lease obligation	210	196
Long-term lease obligation	206	415
Operating Lease, Liability	416	611
Operating lease cost	218	213
Short-term lease cost	118	426
Total lease costs	$ 336	$ 639
Weighted average lease term (years) (Year)	1 year 10 months 24 days	2 years 10 months 24 days
Weighted average discount rate	4.25%	4.25%

Note 11 - Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Pretax income (loss)	$ (14,368)	$ (25,613)
Pretax income (loss), percent	0.00%	0.00%
Tax at U.S. federal statutory rate (21%)	$ (3,032)	$ (5,410)
Tax at U.S. federal statutory rate (21%), percent	21.00%	21.00%
State income taxes, net of federal benefit	$ 5	$ (444)
State income taxes, net of federal benefit, percent	1.70%	1.60%
Tax credits	$ 0	$ 0
Tax credits, percent	0.00%	0.00%
Foreign tax effects	$ 0	$ 0
Foreign tax effects, percent	0.00%	0.00%
Effects of tax law changes	$ 0	$ 0
Effects of tax law changes, percent	0.00%	0.00%
Nondeductible expenses	$ 93	$ 155
Nondeductible expenses, percent	0.60%	0.70%
Changes in valuation allowance	$ 2,911	$ 5,705
Changes in valuation allowance, percent	22.10%	20.10%
Changes in unrecognized tax benefits	$ 0	$ 0
Changes in unrecognized tax benefits, percent	0.00%	0.00%
Other, net	$ 28	$ 13
Other, net, percent	0.00%	(0.90%)
Income tax expense (benefit)	$ 6	$ 20
Income tax expense (benefit), percent	0.10%	(2.70%)

Note 5 - Oil and Natural Gas Producing Activities (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / item	Dec. 31, 2024 USD ($) $ / item
Impairment, Oil and Gas, Property with Unproved and Proved Reserves \| $	$ 3,628	$ 11,918
Oil and Gas Property, Ceiling Test, Discount Rate	10.00%	10.00%
Crude Oil [Member]
Oil and Gas, Average Sale Price Per Unit (in USD per Per Share)	65.34	75.48
Natural Gas and Natural Gas Liquids (NGL) [Member]
Oil and Gas, Average Sale Price Per Unit (in USD per Per Share)	3.39	2.13

Note 6 - Debt (Details Textual) $ in Millions	Jan. 05, 2022 USD ($)	Dec. 31, 2025 USD ($)	Aug. 01, 2025 USD ($)	Jul. 26, 2022 USD ($)
Credit Agreement [Member]
Debt Instrument, Term (Year)	4 years
Debt Instrument, Face Amount	$ 15		$ 10	$ 20
Line of Credit Facility, Maximum Borrowing Capacity	$ 100
Debt Issuance Costs, Net		$ 53
Debt Instrument, Unused Borrowing Fee, Percent		0.50%
Debt Instrument, Covenant, Ratio of Total Debt to EBITDAX	3
Debt Instrument, Covenant, Ratio of Consolidated Current Assets to Consolidated Current Liabilities	1
Credit Agreement [Member] \| Minimum [Member]
Debt Instrument, Covenant, Restricted Payment, Percentage of Existing Borrowing Base	20.00%
Credit Agreement [Member] \| Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Credit Agreement [Member] \| Applicable Margin [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Credit Agreement [Member] \| Applicable Margin [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Amended Credit Agreement [Member]
Debt Issuance Costs, Net		$ 60

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and equivalents	$ 429	$ 7,723
Oil and natural gas sales receivables	454	1,298
Marketable equity securities	146	131
Other current assets	956	572
Total current assets	1,985	9,724
Oil and natural gas properties under full cost method:
Evaluated properties	132,459	142,029
Less accumulated depreciation, depletion and amortization	(117,237)	(112,958)
Net oil and natural gas properties	15,222	29,071
Unproved industrial gas properties, not subject to amortization	22,479	9,384
Other assets:
Property and equipment, net	318	660
Right of use asset	356	528
Other assets	270	300
Total other assets	944	1,488
Total assets	40,630	49,667
Current liabilities:
Accounts payable and accrued liabilities	1,538	5,086
Accrued compensation and benefits	54	850
Revenue and royalties payable	3,921	4,836
Asset retirement obligations	300	1,000
Current lease obligation	210	196
Total current liabilities	6,023	11,968
Noncurrent liabilities:
Credit facility	2,500	0
Asset retirement obligations	7,706	13,083
Long-term lease obligation	206	415
Total noncurrent liabilities	10,412	13,498
Total liabilities	16,435	25,466
Commitments and contingencies (Note 9)
Shareholders’ equity:
Common stock, $0.01 par value; 245,000,000 authorized; 34,405,143 and 27,903,197 shares issued and outstanding as of December 31, 2025 and 2024, respectively	345	279
Additional paid-in capital	235,762	221,460
Accumulated deficit	(211,912)	(197,538)
Total shareholders’ equity	24,195	24,201
Total liabilities and shareholders’ equity	$ 40,630	$ 49,667

Note 7 - Commodity Derivatives - Schedule of Derivative Gains (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Total derivative settlement gains (losses)	$ 0	$ 2,381
Commodity derivative gain, net	0	537
Oil Contracts [Member]
Total derivative settlement gains (losses)	0	2,381
Commodity derivative gain, net	$ 0	$ 537

Note 11 - Income Taxes - Schedule of Income Taxes Paid (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Paid, Federal, after Refund Received	$ 0	$ 0
Income Tax Paid, State and Local, after Refund Received	0	17
Income Tax Paid, Foreign, after Refund Received	0	0
Total Cash Taxes Paid	$ 0	$ 17

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue:
Revenue	$ 7,353	$ 20,619
Operating expenses:
Lease operating expenses	5,174	11,160
Gathering, transportation, and treating	59	205
Production taxes	539	1,213
Depreciation, depletion, accretion, and amortization	3,607	8,254
Impairment of oil and natural gas properties	3,628	11,918
Exploration Expense	230	369
General and administrative expenses	8,064	8,197
Loss on sale of assets	411	4,978
Total operating expenses	21,712	46,294
Operating loss	(14,359)	(25,675)
Other income (expense):
Commodity derivative gain, net	0	537
Interest expense, net	(208)	(442)
Other income (expense), net	199	(33)
Total other income (expense)	(9)	62
Net loss before income taxes	(14,368)	(25,613)
Income tax (expense) benefit	(6)	(20)
Net loss	$ (14,374)	$ (25,633)
Basic and diluted weighted average shares outstanding (in shares)	33,820,394	26,720,295
Basic and diluted loss per share (in dollars per share)	$ (0.43)	$ (0.96)
Oil Sales[Member]
Revenue:
Revenue	$ 6,378	$ 18,165
Natural Gas, Midstream [Member]
Revenue:
Revenue	$ 975	$ 2,454

Note 4 - Leases

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

4. LEASES

The Company’s right-of-use assets and lease liabilities are recognized at their discounted present value under the following captions in the Consolidated Balance Sheets as of December 31, 2025 and 2024:

	December 31,
	2025		2024
	(in thousands)
Right of use asset
Operating lease	$	356	$	528
Lease liability
Current lease obligation		210		196
Long-term lease obligation		206		415
	$	416	$	611

The Company recognizes lease expense on a straight-line basis excluding short-term and variable lease payments, which are recognized as incurred. Following are the amounts recognized as components of rental expense for the years ended December 31, 2025 and 2024:

	*December 31,*
	*2025*		*2024*
	(in thousands)
Operating lease cost	$	218	$	213
Short-term lease cost		118		426
Total lease costs	$	336	$	639

The Houston office operating lease commenced in May 2022 and is for a term of 67 months. The base rent under the lease escalates $0.50 per square foot each twelve-month period during the term of the lease. In addition, the Company is responsible for its share of operating expenses and tax expenses as defined in the lease.

Short-term lease cost is associated with short-term lease agreements primarily related to compressors and field equipment rentals contracted for 12 months or less.

The Company’s office operating lease agreements did not contain implicit interest rates that could be readily determined; therefore, the Company used the incremental borrowing rates in effect at the time the Company entered into the leases.

	*As of December 31,*
	*2025*			*2024*

Weighted average lease term (years)		1.9			2.9
Weighted average discount rate		4.25	%		4.25	%

Maturity of operating lease liabilities with terms of one year or more as of December 31, 2025 are presented in the following table:

	*December 31, 2025*
	(in thousands)
2026	$	224
2027		210
Total future lease payments	$	434
Less: imputed interest		(18	)
Total lease liability	$	416

Note 14 - Other Current Assets and Accounts Payable and Accrued Liabilities - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Prepaid expense	$ 164	$ 119
Joint interest billings receivable, net of allowance of $380 and $100 as of December 31, 2025 and 2024, respectively	(31)	378
Income tax receivable	28	28
Deferred offering costs	776	0
Other	19	47
Total other current assets	$ 956	$ 572

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / item	Dec. 31, 2024 USD ($) $ / bbl
Oil and Gas, Capitalized Cost, before Accumulated Depreciation, Depletion, Amortization, and Valuation Allowance, Asset Retirement	$ 0	$ 1,000
Depreciation, Depletion and Amortization	$ 3,607	$ 8,254
Oil and Gas Property, Ceiling Test, Discount Rate	10.00%	10.00%
Oil and Gas Properties [Member]
Depreciation, Depletion and Amortization	$ 2,300	$ 6,400
Oil and Gas Properties, Depletion and Amortization per Unit of Production (in USD per Per Share)	21.89	19.64

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Note 2 - Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

2. ACQUISITIONS AND DIVESTITURES

Acquisition of Industrial Gas Acreage

On January 7, 2025, we entered and simultaneously closed the transactions contemplated by, a purchase and sale agreement, with Synergy Offshore LLC (“Synergy”). Synergy is controlled by Mr. Duane H. King, a member of the Board of Directors of the Company, who serves as the Chief Executive Officer and Manager of Synergy, and John A. Weinzierl, the Company’s Chairman, who was then an approximate sixty percent beneficial owner of Synergy.

We acquired approximately 24,000 net operated acres located across the Kevin Dome structure in Toole County, Montana, including all leases, wells, rights and interests in, under or derived from the acquired acreage subject to Synergy retaining an undivided twenty percent (20%) of Synergy’s right title and interest in the property.

Consideration for the transaction consisted of the following: (a) $2.0 million in cash, subject to customary adjustments; (b) 1,400,000 shares of the Company’s common stock; (c) a carried working interest whereby the Company agreed to cover and pay for 100% of Synergy’s costs attributable to the Synergy acreage, until the earlier of (i) 78 months from the closing date; or (ii) the date the total costs associated therewith total $20 million; (d) our agreement to pay Synergy 18% of the cash amounts we actually realize from any law or regulation from our sequestration of carbon oxides or similar substances derived directly from an agreed area of mutual interest including Synergy’s acreage; and (e) our agreement to pay Synergy 18% of any gain we may receive in connection with the sale of the future, first, gas processing plant located on Synergy’s acreage. Total consideration was $4.9 million. The transaction was accounted for as an asset acquisition.

	*Amount*
	(in thousands)
Amounts incurred as of the closing date:
Cash	$	2,000
Value of 1,400,000 shares issued		2,632
Transaction costs		325
Total consideration paid	$	4,957

Allocation to acquired assets:
Unproved industrial gas properties	$	4,957

On June 26, 2024, the Company entered into and closed the transactions contemplated by, a purchase and sale agreement with Wavetech Helium ("Wavetech" and the "Purchase Agreement"). Pursuant to the Purchase Agreement, effective June 1, 2024, the Company acquired 82.5% of Wavetech's rights under a farmout agreement for approximately 144,000 net acres located across the Kevin Dome Structure in Toole County, Montana (the "Assigned Rights"). The Assigned Rights vest upon the drilling of two wells on the property. As of December 31, 2025, the Company had completed its drilling commitment on the property. In consideration for the Assigned Rights, the Company paid Wavetech $2.0 million in cash and 2.6 million shares of restricted common stock, which were valued at $2.7 million on June 26, 2024. In addition, prior to the closing of the Purchase Agreement, the Company incurred $0.4 million of transaction costs related to the acquisition of the Assigned Rights. Additionally, the Company agreed to be responsible for 100% of capital costs, including costs related to project exploration, appraisal, development drilling and completion until $20.0 million has been incurred related to Wavetech's 17.5% interest. The Company accounted for the acquisition of the Assigned Rights as an asset acquisition.

Divestitures

During the year ended December 31, 2025, the Company closed on two oil and natural gas property divestments, in Wyoming and in West Texas, for total net proceeds of $0.6 million. Relief of the associated asset retirement obligations for the properties divested was $5.6 million. The Company recorded the proceeds, net of transaction costs and final settlement adjustments, along with the associated asset retirement obligations to the full cost pool, with no gain or loss recognized in the Consolidated Statement of Operations.

During the year ended December 31, 2024, the Company closed several divestment transactions of its oil and natural gas properties for total net proceeds of $14.0 million before transaction costs of $0.4 million. Relief of the associated asset retirement obligations for the properties divested was $5.4 million. The divestitures included several individual divestitures of wells in Garza, Karnes and Archer County, Texas, Sumner and Pratt County, Kansas, Kay County, Oklahoma and Lea County, New Mexico. The net proceeds from these transactions totaled $7.2 million. These divestitures did not have a significant impact to reserves volumes or the full cost pool depletion rate. As such, the Company recorded the proceeds, net of transaction costs and purchase price adjustments, to the full cost pool, with no gain or loss recognized in the Consolidated Statement of Operations. In addition, on December 31, 2024, the Company closed on the sale of properties in Anderson, Henderson and Liberty County, Texas. This divestiture represented 36% of the reserve volumes and 30% of the reserve value at the date of the divestment, and as such, the Company considered this a significant divestiture and recognized a $5.0 million loss on the sale of the properties in the Consolidated Statement of Operations for the year ended December 31, 2024.

Note 11 - Income Taxes

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Income Tax Disclosure [Text Block]

11. INCOME TAXES

Adoption of ASU 2023-09

The Company adopted Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, effective January 1, 2025. The amendments expand the Company’s income tax disclosure requirements but do not impact its consolidated financial position, results of operations, or cash flows.

Components of Income Tax Expense

The components of the income tax provision for the years ended December 31, 2025 and 2024 are as follows:

	*2025*		*2024*
	(in thousands)
Current:
Federal	$	-	$	-
State		6		36
Total current income tax	$	6	$	36

Deferred:
Federal	$	-	$	456
State		-		(472	)
Total deferred income taxes	$	-	$	(16	)

Total income tax expense (benefit)	$	6	$	20

Rate Reconciliation

The following table presents a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate for the years ended December 31, 2025 and 2024 ($ in thousands):

	*2025*				%	*2024*				%
Reconciling Item
Pretax income (loss)		(14,368	)	0.0	%	$	(25,613	)	0.0	%
Tax at U.S. federal statutory rate (21%)		(3,032	)	21.0	%		(5,410	)	21.0	%
State income taxes, net of federal benefit		5		1.7	%		(444	)	1.6	%
Tax credits		-		0.0	%		-		0.0	%
Foreign tax effects		-		0.0	%		-		0.0	%
Effects of tax law changes		-		0.0	%		-		0.0	%
Nondeductible expenses		93		0.6	%		155		0.7	%
Changes in valuation allowance		2,911		22.1	%		5,705		20.1	%
Changes in unrecognized tax benefits		-		0.0	%		-		0.0	%
Other, net		28		0.0	%		13		-0.9	%

Income tax expense (benefit)	$	6		0.1	%	$	20		-2.7	%

The Company’s effective tax rate differs from the U.S. federal statutory rate primarily due to changes in valuation allowance, state income taxes, and nondeductible expenses. The Company does not have foreign operations, tax credit activity, or uncertain tax positions that materially impact the effective tax rate.

Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of December 31, 2025 and 2024 are as follows:

	*2025*			*2024*
	(in thousands)
Deferred tax assets:
Net operating loss carryover	$	13,613		$	9,787
Property and equipment		7,808			6,781
Percentage depletion and contribution carryovers		2,007			1,988
Deferred compensation liability		9			188
Asset retirement obligations		1,843			3,215
Stock-based compensation		408			379
Lease obligations		94			138
Other		218			220

Total deferred tax assets		26,000			22,695

Deferred tax liabilities:
Lease assets		(81	)		(119	)

Total deferred tax liabilities		(81	)		(119	)

Net deferred tax assets		25,919			22,576
Less valuation allowance		(25,919	)		(22,576	)

Net deferred tax liability	$	-		$	-

Cash Taxes Paid

Cash paid for income taxes was as follows for the years ended December 31, 2025 and 2024 (in thousands):

	*2025*		*2024*
	(in thousands)
Jurisdiction:
Federal		-		-
State		-		17
Foreign		-		-

Total Cash Taxes Paid	$	-	$	17

The Company has no foreign operations.

Other Disclosures

As of December 31, 2025, the Company has approximately $28.1 million in net operating loss carryovers for federal income tax purposes. Net operating losses incurred prior to January 5, 2022 are subject to an Internal Revenue Code (IRC) Section 382 limitations due to a change of control on that date.

The Company also has approximately $10.6 million of realized built-in loss ("RBIL") carryovers that carry forward indefinitely subject to annual limitations.

The Company recognizes, measures, and discloses uncertain tax positions under the “more-likely-than-not” threshold. The Company has no uncertain tax positions.

The Company files income tax returns in U.S. federal and multiple state jurisdictions. It is generally not subject to federal tax examinations for years prior to 2021 and remains open for various state tax examinations for tax years 2020 and later.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Note 10 - Shareholders' Equity (Details Textual) - USD ($)					9 Months Ended	12 Months Ended
	Oct. 09, 2025	Jan. 27, 2025	Jan. 23, 2025	Jan. 22, 2025	Sep. 30, 2025	Dec. 31, 2025	Dec. 31, 2024	Jan. 29, 2025
Common Stock, Shares Authorized (in shares)						245,000,000	245,000,000
Preferred Stock, Shares Authorized (in shares)						5,000,000	5,000,000
Proceeds from Issuance of Common Stock						$ 11,877,000	$ 0
Stock Repurchased During Period, Shares (in shares)						197,000	617,000
Stock Repurchased During Period, Value						$ 316,000	$ 730,000
Share Repurchase Program, Weighted Average Price Per Share (in dollars per share)						$ 1.604	$ 1.183
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)					10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)						16,500,000	22,200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)						$ 10	$ 30.48
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term (Year)							1 year 9 months 18 days
Stock Repurchase Program, Authorized Amount								$ 5,000,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense						$ 0	$ 0
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense						1,853,000	$ 1,268,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount						$ 841
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						1 year 5 months 15 days
Restricted Stock [Member] \| The 2022 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)						4,201,742
Banner Oil & Gas, LLC [Member]
Stock Repurchased During Period, Shares (in shares)		534,020
Woodford Petroleum, LLC [Member]
Stock Repurchased During Period, Shares (in shares)		41,229
Sage Road Energy II, LP [Member]
Stock Repurchased During Period, Shares (in shares)		60,151
Related Party [Member]
Stock Repurchased During Period, Value		$ 1,574,000
Share Repurchase Program, Weighted Average Price Per Share (in dollars per share)		$ 2.48
Sage Road Capital, LLC [Member]
Payments to Acquire Investments			$ 1,574,000
Common Stock Purchase Agreement [Member]
Equity Agreement, Maximum Amount	$ 25,000,000
Equity Agreement, Discount on Stock Price, Percent	2.50%
Equity Agreement, Outstanding Shares, Percent	19.99%
Equity Agreement, Beneficial-Ownership Blocker, Percent	4.99%
Equity Agreement, Structuring Fee	$ 25,000
Stock Issued During Period, Shares, Issued as a Partial Commitment Fee (in shares)	223,141
Stock Issued During Period, Value, Issued as a Partial Commitment Fee	$ 270,000
Equity Agreement, Cash Commitment Fee	180,000
Equity Agreement, Cash Proceeds from Resale of Shares	$ 270,000
Stock Issued During Period, Shares, New Issues (in shares)						0
Underwriting Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)			4,871,400	4,871,400
Shares Issued, Price Per Share (in dollars per share)				$ 2.65
Proceeds from Issuance of Common Stock			$ 11,900,000
Equity Offering, Commission, Percentage of Closing Sales Price		8.20%
Over-Allotment Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)			635,400

Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	*2025*		*2024*
	(in thousands)
Current:
Federal	$	-	$	-
State		6		36
Total current income tax	$	6	$	36

Deferred:
Federal	$	-	$	456
State		-		(472	)
Total deferred income taxes	$	-	$	(16	)

Total income tax expense (benefit)	$	6	$	20

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*2025*				%	*2024*				%
Reconciling Item
Pretax income (loss)		(14,368	)	0.0	%	$	(25,613	)	0.0	%
Tax at U.S. federal statutory rate (21%)		(3,032	)	21.0	%		(5,410	)	21.0	%
State income taxes, net of federal benefit		5		1.7	%		(444	)	1.6	%
Tax credits		-		0.0	%		-		0.0	%
Foreign tax effects		-		0.0	%		-		0.0	%
Effects of tax law changes		-		0.0	%		-		0.0	%
Nondeductible expenses		93		0.6	%		155		0.7	%
Changes in valuation allowance		2,911		22.1	%		5,705		20.1	%
Changes in unrecognized tax benefits		-		0.0	%		-		0.0	%
Other, net		28		0.0	%		13		-0.9	%

Income tax expense (benefit)	$	6		0.1	%	$	20		-2.7	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	*2025*			*2024*
	(in thousands)
Deferred tax assets:
Net operating loss carryover	$	13,613		$	9,787
Property and equipment		7,808			6,781
Percentage depletion and contribution carryovers		2,007			1,988
Deferred compensation liability		9			188
Asset retirement obligations		1,843			3,215
Stock-based compensation		408			379
Lease obligations		94			138
Other		218			220

Total deferred tax assets		26,000			22,695

Deferred tax liabilities:
Lease assets		(81	)		(119	)

Total deferred tax liabilities		(81	)		(119	)

Net deferred tax assets		25,919			22,576
Less valuation allowance		(25,919	)		(22,576	)

Net deferred tax liability	$	-		$	-

Schedule of Income Taxes Paid [Table Text Block]

	*2025*		*2024*
	(in thousands)
Jurisdiction:
Federal		-		-
State		-		17
Foreign		-		-

Total Cash Taxes Paid	$	-	$	17

Note 6 - Debt (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Debt [Table Text Block]

	*December 31,*
	*2025*			*2024*
	(in thousands)
Interest charges	$	26		$	309
Weighted average interest rate		7.8	%		9.2	%

Note 14 - Other Current Assets and Accounts Payable and Accrued Liabilities - Schedule of Other Current Assets (Details) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Joint interest billings receivable, allowance	$ 380	$ 100

Note 8 - Asset Retirement Obligation - Schedule of Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Balance, beginning of year	$ 14,083	$ 18,490
Acquired	26	2
Cost and life revisions	(1,304)	(150)
Settlements	(232)	(374)
Liabilities related to disposition	(5,571)	(5,435)
Accretion	1,004	1,550
Balance, end of year	8,006	14,083
Asset retirement obligations	300	1,000
Asset retirement obligations - noncurrent	$ 7,706	$ 13,083

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Schedule of Capitalized Oil and Gas Costs Incurred (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Proved property acquisition

$ 0

Development (1)

^[1]

1,213

Exploration

Total

$ 0

$ 1,213

[1]	Includes amounts related to estimated asset retirement obligations of $300 thousand and $1.0 million for the years ended December 31, 2025 and 2024, respectively.

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	*Item 1C.* Cybersecurity.** Risk Management and Strategy The Company’s cybersecurity environment is led by our information technology (IT) group, which, in addition to cybersecurity matters, oversees the Company’s IT infrastructure. The IT group is responsible for monitoring and managing the security of the Company's corporate network and enterprise systems, including technical controls, and safety protocols and responding to security threats. The Company maintains a cybersecurity risk management program that establishes safeguards for protecting the confidentiality, integrity, and availability of our data, technology, and information systems. The program includes general controls for managing changes in and access to the Company’s IT environment, cybersecurity awareness and training to help employees identify and mitigate against cybersecurity threats, cybersecurity incident response plans and third-party incident response retainers to help expedite the Company’s response in the event of a cybersecurity incident. The Company’s Director of IT is primarily responsible for the day-to-day operation of the Company’s cybersecurity program and for identifying cybersecurity threats and incidents and managing the material risks associated with the cybersecurity threats. The Company’s Director of IT engages third-party vendors and cybersecurity consortiums periodically for cybersecurity-related guidance and certifications. In the event of a cybersecurity incident, the Company’s process calls for the Director of IT and Chief Financial Officer, to work to assess and respond to the incident and provide briefings to the Chief Executive Officer and the Audit Committee of the Board of Directors. The Audit Committee is responsible for providing oversight over management's processes to identify and evaluate cybersecurity risks to which the Company is exposed and to implement processes and programs to manage cybersecurity risks and mitigate any incidents. The Audit Committee also reports material cybersecurity risks to the Board. We believe this risk management process provides visibility and oversight to allow the Board and executive leadership team to make timely, data-driven decisions ensuring that the Company, its employees, investors, and partners are adequately protected. As of and for the years ended December 31, 2025 and 2024, there have been no cybersecurity incidents that have materially affected the Company’s business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company maintains a cybersecurity risk management program that establishes safeguards for protecting the confidentiality, integrity, and availability of our data, technology, and information systems. The program includes general controls for managing changes in and access to the Company’s IT environment, cybersecurity awareness and training to help employees identify and mitigate against cybersecurity threats, cybersecurity incident response plans and third-party incident response retainers to help expedite the Company’s response in the event of a cybersecurity incident.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	As of and for the years ended December 31, 2025 and 2024, there have been no cybersecurity incidents that have materially affected the Company’s business strategy, results of operations, or financial condition.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee is responsible for providing oversight over management's processes to identify and evaluate cybersecurity risks to which the Company is exposed and to implement processes and programs to manage cybersecurity risks and mitigate any incidents. The Audit Committee also reports material cybersecurity risks to the Board. We believe this risk management process provides visibility and oversight to allow the Board and executive leadership team to make timely, data-driven decisions ensuring that the Company, its employees, investors, and partners are adequately protected.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee is responsible for providing oversight over management's processes to identify and evaluate cybersecurity risks to which the Company is exposed and to implement processes and programs to manage cybersecurity risks and mitigate any incidents. The Audit Committee also reports material cybersecurity risks to the Board. We believe this risk management process provides visibility and oversight to allow the Board and executive leadership team to make timely, data-driven decisions ensuring that the Company, its employees, investors, and partners are adequately protected.
Cybersecurity Risk Role of Management [Text Block]	The Company’s cybersecurity environment is led by our information technology (IT) group, which, in addition to cybersecurity matters, oversees the Company’s IT infrastructure. The IT group is responsible for monitoring and managing the security of the Company's corporate network and enterprise systems, including technical controls, and safety protocols and responding to security threats.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Company’s Director of IT is primarily responsible for the day-to-day operation of the Company’s cybersecurity program and for identifying cybersecurity threats and incidents and managing the material risks associated with the cybersecurity threats. The Company’s Director of IT engages third-party vendors and cybersecurity consortiums periodically for cybersecurity-related guidance and certifications. In the event of a cybersecurity incident, the Company’s process calls for the Director of IT and Chief Financial Officer, to work to assess and respond to the incident and provide briefings to the Chief Executive Officer and the Audit Committee of the Board of Directors.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The Company’s Director of IT is primarily responsible for the day-to-day operation of the Company’s cybersecurity program and for identifying cybersecurity threats and incidents and managing the material risks associated with the cybersecurity threats. The Company’s Director of IT engages third-party vendors and cybersecurity consortiums periodically for cybersecurity-related guidance and certifications. In the event of a cybersecurity incident, the Company’s process calls for the Director of IT and Chief Financial Officer, to work to assess and respond to the incident and provide briefings to the Chief Executive Officer and the Audit Committee of the Board of Directors.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Company’s Director of IT is primarily responsible for the day-to-day operation of the Company’s cybersecurity program and for identifying cybersecurity threats and incidents and managing the material risks associated with the cybersecurity threats. The Company’s Director of IT engages third-party vendors and cybersecurity consortiums periodically for cybersecurity-related guidance and certifications. In the event of a cybersecurity incident, the Company’s process calls for the Director of IT and Chief Financial Officer, to work to assess and respond to the incident and provide briefings to the Chief Executive Officer and the Audit Committee of the Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash flows from operating activities:
Net loss	$ (14,374)	$ (25,633)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, depletion, accretion, and amortization	3,607	8,254
Impairment of oil and natural gas properties	3,628	11,918
Deferred income taxes	0	(16)
Total commodity derivatives gains, net	0	(537)
Commodity derivative settlements received	0	2,381
(Gains) losses on marketable equity securities	(15)	33
Loss on sale of assets	411	4,978
Amortization of debt issuance costs	104	49
Stock-based compensation	1,853	1,268
Right of use asset amortization	173	165
Changes in operating assets and liabilities:
Oil and natural gas sales receivable	844	1,038
Other assets	198	(89)
Accounts payable and accrued liabilities	(1,994)	1,207
Accrued compensation and benefits	(796)	148
Revenue and royalties payable	(485)	(21)
Payments on operating lease liability	(196)	(182)
Settlements of asset retirement obligations	(96)	(374)
Net cash (used in) provided by operating activities	(7,138)	4,587
Cash flows from investing activities:
Acquisition of industrial gas properties	(2,128)	(2,578)
Proceeds from sale of oil and natural gas properties, net	194	13,541
Sale of real estate and other, net	0	128
Net cash (used in) provided by investing activities:	(11,882)	5,768
Cash flows from financing activities:
Borrowings on credit facility	2,500	2,000
Payments on credit facility	0	(7,000)
Payments on insurance premium finance note	0	(62)
Debt and equity financing costs	(386)	0
Shares withheld to settle tax withholding obligations for restricted stock awards	(375)	(133)
Related party share repurchase	(1,574)	0
Proceeds from underwritten offering	11,877	0
Repurchases of common stock	(316)	(788)
Net cash provided by (used in) financing activities	11,726	(5,983)
Net (decrease) increase in cash and equivalents	(7,294)	4,372
Cash and equivalents, beginning of year	7,723	3,351
Cash and equivalents, end of year	429	7,723
Industrial Gas Properties [Member]
Cash flows from investing activities:
Capital expenditures	(9,863)	(3,908)
Oil and Natural Gas Properties [Member]
Cash flows from investing activities:
Capital expenditures	$ (86)	$ (1,415)

Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Underwritten Offering [Member]
Offering costs	$ 899,099

Note 13 - Fair Value Measurements (Details Textual)	Dec. 31, 2025
Minimum [Member]
Derivative, Fixed Interest Rate	7.30%
Maximum [Member]
Derivative, Fixed Interest Rate	19.00%

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2025	Dec. 31, 2024
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	245,000,000	245,000,000
Common stock, issued (in shares)	34,405,143	27,903,197
Common stock, outstanding (in shares)	34,405,143	27,903,197

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited)

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Oil and Gas, Supplemental Disclosure [Text Block]

17. SUPPLEMENTAL OIL AND NATURAL GAS INFORMATION (UNAUDITED)

Capitalized Costs Incurred

The capitalized costs incurred in crude oil and natural gas acquisitions, exploration and development activities for the years ended December 31, 2025 and 2024 are provided in the table below:

	*2025*		*2024*
	(in thousands)
Proved property acquisition	$	-	$	-
Development ⁽¹⁾		-		1,213
Exploration		-		-

Total	$	-	$	1,213

⁽¹⁾

Includes amounts related to estimated asset retirement obligations of $0.0 million and $1.0 million for the years ended December 31, 2025 and 2024, respectively.

Net Capitalized Costs

The following table presents the Company’s capitalized costs associated with oil and natural gas producing activities as of December 31, 2025 and 2024:

	*2025*			*2024*
	(in thousands)
Oil and Natural Gas Properties:
Evaluated properties in full cost pool (1)		132,459			142,029
Less accumulated depletion (2)		(117,237	)		(112,958	)

Net capitalized costs	$	15,222		$	29,071

⁽¹⁾

Depletion expense was $2.3 million ($21.89 per barrels of oil equivalent (BOE) and $6.4 million ($19.64 per BOE) for the years ended December 31, 2025 and 2024, respectively.

Results of Operations from oil and natural gas producing activities

The following table includes revenues and expenses associated with the Company’s oil and gas producing activities. It does not include any allocation of the Company’s interest costs or general corporate overhead and therefore, it is not necessarily indicative of the contribution to net earnings of the Company’s oil and gas operations. Income tax expense has been calculated by applying statutory income tax rates to oil and gas sales after deducting costs, including DD&A, and giving effect to permanent differences. Presented below are the results of operations from oil and natural gas producing activities for the years ended December 31, 2025 and 2024:

	*2025*			*2024*
	(in thousands)
Oil and natural gas sales	$	7,353		$	20,619
Lease operating expense		(5,174	)		(11,160	)
Gathering, treating, and transportation costs		(59	)		(205	)
Production taxes		(539	)		(1,213	)
Depletion		(2,261	)		(6,369	)
Income tax (expense) benefit		(6	)		(20	)

Results of operations from oil and natural gas producing activities	$	(686	)	$	1,652

Oil and Natural Gas Reserves

Proved reserves are estimated quantities of oil, NGLs and natural gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Oil and natural gas prices used are the average price during the 12-month period prior to the effective date of the report, determined as an unweighted arithmetic average of the first-day-of-the-month price for each month within such period, unless prices are defined by contractual arrangements. Proved developed reserves are reserves that can reasonably be expected to be recovered through existing wells with existing equipment and operating methods. The Company emphasizes that reserve estimates are inherently imprecise. Accordingly, these estimates are expected to change as future information becomes available.

Proved oil and natural gas reserve quantities at December 31, 2025 and 2024 and the related discounted future net cash flows before income taxes are based on the estimates prepared by On Point Resources. The estimates have been prepared in accordance with guidelines established by the Securities and Exchange Commission. All of the Company’s estimated proved reserves are located in the United States.

As of December 31, 2025 and 2024, the Company had no proved undeveloped reserves. All proved reserves were proved developed producing.

The Company’s estimated quantities of proved oil and natural gas reserves and changes in net proved reserves are summarized below for the years ended December 31, 2025 and 2024:

	*2025*						*2024*
	*Oil*			*Gas*			*Oil*			*Gas*
	*(bbls)*			(mcfe) ⁽¹⁾			*(bbls)*			(mcfe) ⁽¹⁾

Total proved reserves:
Reserve quantities, beginning of year		1,592,306			2,306,915			3,182,861			10,082,386
Revisions of previous estimates		(120,898	)		220,809			(515,318	)		(2,546,079	)
Discoveries and extensions		-			-			-			-
Purchases of minerals in place		-			-			-			-
Sale of minerals in place		(271,457	)		(27,997	)		(819,071	)		(4,271,067	)
Production		(112,797	)		(311,729	)		(256,166	)		(958,325	)

Reserve quantities, end of year		1,087,155			2,187,999			1,592,306			2,306,915

⁽¹⁾

Mcf equivalents (Mcfe) consist of natural gas reserves in mcf plus NGLs converted to mcf using a factor of 6 mcf for each barrel of NGL.

Notable changes in proved reserves for the years ended December 31, 2025 and 2024 included the following:

	●	Downward oil revisions in 2025 and 2024 primarily represent revisions due to a decrease in SEC pricing, which resulted in shortening the economic lives of certain properties. Upward gas revisions in 2025 primarily represent revisions due to an increase in SEC pricing.

	●	Sales of minerals in place in 2025 and 2024 represent reserves associated with properties sold during each respective year. Please see Note 2-Acquisitions and divestitures.

Standardized Measure (Unaudited)

The Company computes a standardized measure of future net cash flows and changes therein relating to estimated proved reserves in accordance with authoritative accounting guidance. The assumptions used to compute the standardized measure are those prescribed by the FASB and the SEC. These assumptions do not necessarily reflect the Company’s expectations of actual revenues to be derived from those reserves, nor their present value amount. The limitations inherent in the reserve quantity estimation process, as discussed previously, are equally applicable to the standardized measure computations since these reserve quantity estimates are the basis for the valuation process.

Future cash inflows and production and development costs are determined by applying prices and costs, including transportation, quality, and basis differentials, to the year-end estimated future reserve quantities. The following prices as adjusted for transportation, quality, and basis differentials were used in the calculation of the standardized measure:

	*2025*		*2024*

Oil per Bbl	$	65.34	$	75.48
Gas per Mmbtu	$	3.39	$	2.13

Future operating costs are determined based on estimates of expenditures to be incurred in developing and producing the proved reserves in place at the end of the period using year-end costs and assuming continuation of existing economic conditions. Estimated future income taxes are computed using the current statutory income tax rates, including consideration for estimated future statutory depletion. The resulting future net cash flows are reduced to present value amounts by applying a 10% annual discount factor.

The standardized measure of discounted future net cash flows relating to the Company’s proved oil and natural gas reserves is as follows as of December 31, 2025 and 2024:

	*2025*			*2024*
	(in thousands)
Future cash inflows	$	71,278		$	117,237
Future cash outflows:
Production costs		(35,496	)	$	(63,555	)
Development costs		(9,988	)		(28,142	)
Income taxes		-			-

Future net cash flows		25,794		$	25,540
10% annual discount factor		(9,066	)		(1,714	)

Standardized measure of discounted future net cash flows	$	16,728		$	23,826

Changes in Standardized Measure (Unaudited)

The changes in the standardized measure of future net cash flows relating to proved oil and natural gas reserves for the years ended December 31, 2025 and 2024 are as follows:

	*2025*			*2024*
	(in thousands)
Standardized measure, beginning of year	$	23,826		$	60,282
Sales of oil and natural gas, net of production costs		(1,581	)		(7,978	)
Net changes in prices and production costs		(4,829	)		(1,303	)
Changes in estimated future development costs		3,017			1,788
Sale of minerals in place		(3,577	)		(23,116	)
Revisions in previous quantity estimates		(1,089	)		(14,188	)
Previously estimated development costs incurred		231			374
Net changes in income taxes		-			2,611
Accretion of discount		2,499			6,073
Changes in timing and other		(1,770	)		(717	)

Standardized measure, end of year	$	16,727		$	23,826

- Definition

The entire disclosure for oil- and gas-producing activities considered to be supplementary information. Includes, but is not limited to, proved reserve quantity, cost incurred and capitalized, result of operation, standardized measure, and change in standardized measure of discounted future cash flow.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478688/932-270-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 12.A.3.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477759/932-235-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section S50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479097/932-235-S50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-8

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/932/tableOfContent

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 36
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-36

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-8

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-5

+ Details

Note 15 - Supplemental Disclosures of Cash Flow Information

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

15. SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

	*Year Ended*
	*December 31,*
	*2025*			*2024*
	(in thousands)
Cash paid for interest	$	26		$	605

Investing activities:
Change in capital expenditure accruals		(1,554	)		(165	)
Common stock issued for acquisition of properties		2,632			2,678
Asset retirement obligations (acquired, revisions, sold, and plugged wells)		(6,985	)		(5,957	)
Financing activities:
Shares issued for underwriter fee		270			-
Accrued costs of financing		180			-

Note 7 - Commodity Derivatives

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Derivatives and Fair Value [Text Block]

7. COMMODITY DERIVATIVES

The Company’s results of operations and cash flows are affected by changes in market prices for crude oil and natural gas. To manage a portion of its exposure to price volatility from producing crude oil and natural gas, the Company may enter into commodity derivative contracts to protect against price declines in future periods. The Company does not enter into derivative contracts for speculative purposes. The Company does not apply hedge accounting. Accordingly, changes in the fair value of the derivative contracts are recorded in the Consolidated Statements of Operations and are included as a non-cash adjustment to net income in the operating activities section in the Consolidated Statement of Cash Flows.

There were no derivative contracts outstanding as of December 31, 2025 and 2024. During 2024, the Company settled all of its outstanding commodity derivative contracts for 2024 and 2025 production, receiving $1.8 million in settlement proceeds.

All commodity derivative contracts held by the Company were subject to master netting arrangements with its counterparty. The terms of the Company’s derivative agreements provide for offsetting of amounts payable or receivable between it and the counterparty for contracts that settle on the same date. The Company’s agreements also provide that in the event of an early termination, the counterparty has the right to offset amounts owed or owing under that and any other agreement. The Company’s accounting policy is to offset positions when we have a right of offset or master netting arrangement.

The following table summarizes the components of the commodity derivative settlement gain (loss) as well as the components of the net derivative loss line-item presentation in the accompanying Consolidated Statements of Operations:

	*December 31,*
	*2025*		*2024*
	(in thousands)
Commodity derivative settlement gains (losses):
Oil contracts	$	-	$	2,381

Total derivative settlement gains (losses)	$	-	$	2,381

Total net commodity derivative gains (losses):
Oil contracts	$	-	$	537

Total net commodity derivative gains (losses)	$	-	$	537

Note 16 - Subsequent Events

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Subsequent Events [Text Block]

16. SUBSEQUENT EVENTS

Committed Equity Facility

Subsequent to December 31, 2025 and through March 15, 2026, the Company has issued 8.5 million shares generating proceeds of $9.3 million after underwriter commissions.

Expected Write-Down of Oil and Natural Gas Properties

Under the full-cost method of accounting, the net book value of proved oil and natural gas properties, less related deferred income taxes, may not exceed a calculated “ceiling.” The ceiling limitation is the estimated after-tax future net cash flows from proved oil and natural gas reserves. Estimated future net cash flows are calculated using the unweighted arithmetic average of commodity prices in effect on the first day of each of the previous 12 months, adjusted for location and quality differentials, held flat for the life of the production (except where prices are defined by contractual arrangements), less estimated operating costs, production taxes and future development costs, all discounted at 10 percent per annum. Future cash outflows associated with settling accrued asset retirement obligations are excluded from the calculation.

We expect to record a write-down of our oil and natural gas properties in the first quarter of 2026 due to lower commodity prices used in the calculation of the ceiling test as higher first quarter 2025 commodity prices will be removed from the ceiling test calculation and replaced with what we expect to be lower first quarter 2026 commodity prices. Depending on actual commodity prices, estimated price differentials, lease operating costs, revisions to reserve estimates, and the amount and timing of capital expenditures, the write-down could be approximately $0.5 million to $1.5 million in the first quarter of 2026.

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Underwritten Offering [Member] Common Stock [Member]	Underwritten Offering [Member] Additional Paid-in Capital [Member]	Underwritten Offering [Member] Retained Earnings [Member]	Underwritten Offering [Member]	Private Placement [Member] Common Stock [Member]	Private Placement [Member] Additional Paid-in Capital [Member]	Private Placement [Member] Retained Earnings [Member]	Private Placement [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2023									25,333,870
Balance at Dec. 31, 2023									$ 253	$ 218,403	$ (171,904)	$ 46,752
Stock Issued During Period, Shares, Acquisitions (in shares)									2,600,000
Stock Issued During Period, Value, Acquisitions									$ 26	2,652	0	2,678
Shares issued to employees and directors (in shares)									710,104
Shares issued to employees and directors									$ 7	(7)	0	0
Shares withheld to settle tax withholding obligations for restricted stock awards (in shares)									(124,177)
Shares withheld to settle tax withholding obligations for restricted stock awards									$ (1)	(131)	0	(132)
Share repurchases									(6)	(724)	0	(730)
Stock-based compensation									0	1,268	0	1,268
Net loss									$ 0	0	(25,633)	$ (25,633)
Shares withheld to settle tax withholding obligations for restricted stock awards (in shares)									124,177
Shares repurchased (in shares)												(617,000)
Balance (in shares) at Dec. 31, 2024									27,903,197
Balance at Dec. 31, 2024									$ 279	221,460	(197,538)	$ 24,201
Stock Issued During Period, Shares, Acquisitions (in shares)									1,400,000
Stock Issued During Period, Value, Acquisitions									$ 14	2,618	0	2,632
Shares issued to employees and directors (in shares)									1,086,015
Shares issued to employees and directors									$ 11	(10)	0	1
Shares withheld to settle tax withholding obligations for restricted stock awards (in shares)									245,810
Shares withheld to settle tax withholding obligations for restricted stock awards									$ (2)	(373)	0	(375)
Share repurchases									(2)	(314)	0	(316)
Stock-based compensation									0	1,853	0	1,853
Net loss									$ 0	0	(14,374)	$ (14,374)
Shares withheld to settle tax withholding obligations for restricted stock awards (in shares)									(245,810)
Shares issued, net (in shares)	4,871,400				223,141
Shares issued, net	$ 49	$ 11,828	$ 0	$ 11,877	$ 2	$ 268	$ 0	$ 270
Shares repurchased (in shares)									(197,400)			(197,000)
Shares repurchased from related party (in shares)									(635,400)
Shares repurchased from related party									$ (6)	(1,568)	0	$ (1,574)
Balance (in shares) at Dec. 31, 2025									34,405,143
Balance at Dec. 31, 2025									$ 345	$ 235,762	$ (211,912)	$ 24,195

Note 15 - Supplemental Disclosures of Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash paid for interest	$ 26,000	$ 605,000
Change in capital expenditure accruals	(1,554,000)	(165,000)
Common stock issued for acquisition of properties	2,632	2,678
Asset retirement obligations (acquired, revisions, sold, and plugged wells)	(6,985,000)	(5,957,000)
Shares issued for underwriter fee	270	0
Accrued costs of financing	$ 180	$ 0

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Schedule of Standardized Oil and Gas Measures (Details)	12 Months Ended
	Dec. 31, 2025 $ / bbl	Dec. 31, 2025 $ / MMBTU	Dec. 31, 2024 $ / bbl	Dec. 31, 2024 $ / MMBTU
Crude Oil, Condensate, and Natural Gas Liquids (NGL) [Member]
Oil and Gas, Average Sale Price Per Unit (in USD per Per Share)	65.34	3.39	75.48	2.13

Note 4 - Leases (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Lease, Cost [Table Text Block]

	December 31,
	2025		2024
	(in thousands)
Right of use asset
Operating lease	$	356	$	528
Lease liability
Current lease obligation		210		196
Long-term lease obligation		206		415
	$	416	$	611

	*December 31,*
	*2025*		*2024*
	(in thousands)
Operating lease cost	$	218	$	213
Short-term lease cost		118		426
Total lease costs	$	336	$	639

	*As of December 31,*
	*2025*			*2024*

Weighted average lease term (years)		1.9			2.9
Weighted average discount rate		4.25	%		4.25	%

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

	*December 31, 2025*
	(in thousands)
2026	$	224
2027		210
Total future lease payments	$	434
Less: imputed interest		(18	)
Total lease liability	$	416

Note 12 - Income (Loss) Per Share - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Antidilutive securities (in shares)	1,446	1,473
Share-Based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	17	22
Restricted Stock [Member]
Antidilutive securities (in shares)	1,429	1,451

Note 6 - Debt - Schedule of Debt (Details) - Credit Agreement [Member] - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Interest charges	$ 26	$ 309
Weighted average interest rate	7.80%	9.20%

Note 11 - Income Taxes - Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Net operating loss carryover	$ 13,613	$ 9,787
Property and equipment	7,808	6,781
Percentage depletion and contribution carryovers	2,007	1,988
Deferred compensation liability	9	188
Asset retirement obligations	1,843	3,215
Stock-based compensation	408	379
Lease obligations	94	138
Other	218	220
Total deferred tax assets	26,000	22,695
Lease assets	(81)	(119)
Total deferred tax liabilities	(81)	(119)
Net deferred tax assets	25,919	22,576
Less valuation allowance	(25,919)	(22,576)
Net deferred tax liability	$ 0	$ 0

Note 17 - Supplemental Oil and Natural Gas Information (Unaudited) - Schedule of Changes in Standardized Measure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Standardized measure, beginning of year	$ 23,826	$ 60,282
Sales of oil and natural gas, net of production costs	(1,581)	(7,978)
Net changes in prices and production costs	(4,829)	(1,303)
Changes in estimated future development costs	3,017	1,788
Sale of minerals in place	(3,577)	(23,116)
Revisions in previous quantity estimates	(1,089)	(14,188)
Previously estimated development costs incurred	231	374
Net changes in income taxes	0	2,611
Accretion of discount	2,499	6,073
Changes in timing and other	(1,770)	(717)
Standardized measure, end of year	$ 16,727	$ 23,826

Note 10 - Shareholders' Equity

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Equity [Text Block]

10. SHAREHOLDERS’ EQUITY

At December 31, 2025 and 2024, the Company had 245,000,000 common stock shares authorized. In addition, at December 31, 2025 and 2024, the Company had 5,000,000 authorized but unissued shares of preferred stock.

Committed Equity Facility

On October 9, 2025, the Company entered into a Common Stock Purchase Agreement and related Registration Rights Agreement with Roth Principal Investments, LLC (“Roth Principal”), providing a discretionary equity facility of up to $25.0 million. Beginning December 1, 2025, the Company may, at its option over 24 months from the date the resale registration is declared effective and certain other conditions are met, sell shares of common stock to Roth Principal at a price based on the Nasdaq volume weighted average prices during a specific pricing period, less a 2.5% discount, subject to pricing and ownership limits. The facility is capped at 19.99% of outstanding shares of the Company’s common stock as of the date of the Company’s entry into the Common Stock Purchase Agreement, absent shareholder approval or satisfaction of the Nasdaq pricing exemption and includes a 4.99% beneficial-ownership blocker. As consideration, the Company paid a $25 thousand structuring fee, issued 223,141 shares of common stock as a partial commitment fee (valued at $270,000)(the “Stock Commitment Fee”), agreed to a $180 thousand cash commitment fee, and to reimburse legal fees. Proceeds, if any, are expected to be used for working capital and general corporate purposes. Under the Purchase Agreement, the Company may be required to make a cash “make-whole” payment of up to $270,000 (the value of the Stock Commitment Fee”) if, under certain conditions, Roth Principal receives less than $270,000 in total cash proceeds from the resale of such shares before certain specified dates. In such a case, Roth Principal would return to the Company for cancellation any unsold commitment shares. The Company did not issue any shares under the committed equity facility in 2025.

Equity Issuance

On January 22, 2025, the Company entered into an underwriting agreement for the offering of 4,871,400 shares of common stock, at a price to the public of $2.65 per share (such offering, the “Offering”).

The sale of 4,871,400 shares of common stock (including the full 635,400 over-allotment option) in connection with the Offering, closed on January 23, 2025. The Company generated approximately $11.9 million of net proceeds from the Offering, after deducting the underwriting discounts and commissions and offering costs payable by us, and has used and plans to continue to use such proceeds for the development of its recent acquisition in Montana, general corporate purposes, and working capital, or for other purposes that our board of directors, in their good faith, deems to be in the best interest of the Company. Additionally, management used $1.574 million from the over-allotment option exercise to purchase shares of common stock from Sage Road Capital, LLC (whose co-manager, Joshua L. Batchelor, was a then member of the Board of Directors of the Company) and its affiliates at a price equal to the public offering price of the Offering, less underwriting discounts, which sale took place in January 2025, as discussed below.

Related Party Share Repurchase

On January 27, 2025, the Company entered into a Share Repurchase Agreement with Banner Oil & Gas, LLC (“Banner”), Woodford Petroleum, LLC (“Woodford”), and Sage Road Energy II, LP, (“Sage Road”, and together with Banner and Woodford, the “Selling Stockholders”). In his capacity as co-Managing Partner of Sage Road Capital, LLC, which indirectly controls and manages certain funds which own a majority interest in Banner, Woodford and Sage Road, Joshua L. Batchelor, a then member of the Board of Directors of the Company, may be deemed to beneficially own the shares of common stock held by the Selling Stockholders.

Pursuant to the Share Repurchase Agreement, the Company, in a private transaction, outside of, and separate from the Company’s previously disclosed share repurchase program, on January 27, 2025, repurchased (a) 534,020 shares of common stock held by Banner, (b) 41,229 shares of common stock held by Woodford, and (c) 60,151 shares of common stock held by Sage Road, for an aggregate of $1.574 million or approximately $2.48 per share, which was the net price per share of the 4,871,400 shares of common stock sold in our underwritten public offering which closed on January 23, 2025, less underwriting discounts and commissions, and which represented an 8.2% premium to the closing sales price of the Company's common stock on January 27, 2025.

Stock Option Plans

From time to time, the Company may grant stock options under its incentive plan covering shares of common stock to employees of the Company. Stock options, when exercised, are settled through the payment of the exercise price in exchange for new shares of stock underlying the option. These awards typically expire ten years from the grant date.

For the years ended December 31, 2025 and 2024, there was no compensation expense related to stock options. As of December 31, 2025 and 2024, all stock options had vested. The had stock options to purchase 16.5 thousand and 22.2 thousand shares of common stock with an average exercise price of $ 10.00 and $30.48 as of December 31, 2025 and 2024. The remaining term is approximately 1.8 years. The options had de minimis intrinsic values for the periods reported.

Restricted Stock

The Company grants restricted stock under its incentive plan covering shares of common stock to employees and directors of the Company. The restricted stock awards are time-based awards and are amortized ratably over the requisite service period. Restricted stock vests ratably on each anniversary following the grant date provided the grantee is employed on the vesting date. Forfeitures of restricted stock awards are recognized as they occur. Restricted stock granted to employees, when vested, may be net settled through the net issuance of shares, reduced by the number of shares required to pay withholding taxes. Non-vested shares of restricted stock are not included in common shares outstanding until vesting has occurred.

The following table presents the changes in non-vested, time-based restricted stock awards to all employees and directors for the year ended December 31, 2025:

				*Weighted-Avg.*
				*Grant Date*
				*Fair Value*
	*Shares*			*per Share*

Non-vested restricted stock at December 31, 2024		1,450,695		$	1.41
Granted		1,140,000		$	2.03
Vested		(1,086,015	)	$	1.56
Modifications (accelerated vesting)		-		$	-
Forfeited		(76,000	)	$	2.03
Non-vested restricted stock at December 31, 2025		1,428,680		$	2.03

The following table presents the stock compensation expense related to restricted stock grants for the years ended December 31, 2025 and 2024:

	*Year Ended*
	*December 31,*
	*2025*		*2024*
	(in thousands)
Stock compensation expense	$	1,853	$	1,268

Total compensation cost related to non-vested time-based awards not yet recognized in the Company’s Consolidated Statements of Operations as of December 31, 2025 is $841 thousand. This cost is expected to be recognized over a weighted average period of 1.46 years. As of December 31, 2025, the Company had 4,201,742 shares available for issuance under its 2022 Stock Incentive Plan.

Share Repurchase Program

On April 26, 2023, the Board of Directors of the Company authorized and approved a share repurchase program for up to $5.0 million of the outstanding shares of the Company’s common stock. On March 19, 2024, the Board of Directors of the Company authorized and approved an extension of the ongoing share repurchase program for up to $5.0 million of the currently outstanding shares of the Company’s common stock, which was set to expire on June 30, 2025, and was extended until June 30, 2026.

Under the stock repurchase program, shares are repurchased from time to time in the open market or through negotiated transactions at prevailing market prices, or by other means in accordance with federal securities laws. Repurchases are made at management’s discretion at prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. The repurchase program is funded using the Company’s working capital. The repurchased shares are cancelled and therefore will not be held in treasury or reissued.

The following table presents the activity for the share repurchase program for the years ended December 31, 2025 and 2024:

	*Year Ended December 31,*
	*2025*		*2024*
	(in thousands except per share amounts)
Shares repurchased		197		617
Weighted average price per share	$	1.604	$	1.183
Value of shares repurchased	$	316	$	730

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details