BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Depletion (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
| Depletion | $ 24,325,186 | $ 20,511,809 | $ 47,754,798 | $ 41,492,351 |
| Depletion rate, per barrel-of-oil-equivalent (Boe) | $ 13.51 | $ 13.05 | $ 13.52 | $ 12.89 |
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- Definition Depletion costs incurred in the oil during the reporting period divided by the number of barrels of oil equivalents (BOE) produced. No definition available.
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- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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