ASSET RETIREMENT OBLIGATION (Details) - USD ($) |
6 Months Ended | |
|---|---|---|
Jun. 30, 2021 |
Jun. 30, 2020 |
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| ASSET RETIREMENT OBLIGATION | ||
| Balance | $ 17,117,135 | |
| Liabilities incurred | 48,662 | |
| Liabilities acquired | 662,705 | |
| Liabilities sold | (2,934,126) | $ 0 |
| Revision of previous estimate | 153,475 | 0 |
| Liabilities settled | (432,758) | |
| Accretion expense | 377,757 | $ 463,329 |
| Balance | $ 14,992,850 | |
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- Definition Amount of asset retirement obligations acquired during the period. No definition available.
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- Definition Amount of asset retirement obligations properties sold, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. No definition available.
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- Definition Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of asset retirement obligations incurred during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the asset retirement obligation from changes in the amount or timing of the estimated cash flows associated with the settlement of the obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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