Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS AND DIVESTITURES - Preliminary Allocation of the Total Cost of the Founders Acquisition (Details)

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ACQUISITIONS AND DIVESTITURES - Preliminary Allocation of the Total Cost of the Founders Acquisition (Details) - USD ($)
Jul. 10, 2023
Jun. 30, 2024
Dec. 31, 2023
Fair value of assets acquired:      
Oil and natural gas properties   $ 1,735,534,624 $ 1,663,548,249
Fair value of assets acquired:      
Asset retirement obligations   $ 28,575,420 $ 28,248,084
Founders Acquisition      
Investing Activities - Cash Paid      
Deposit in escrow $ 7,500,000    
Closing amount paid to Founders 42,502,799    
Interest from escrow deposit 1,747    
Fair value of deferred payment liability 14,657,383    
Post-close adjustments (4,139,244)    
Total cash consideration 60,522,685    
Direct transaction costs 1,361,843    
Total consideration 61,884,528    
Fair value of assets acquired:      
Oil and natural gas properties 64,886,472    
Amount attributable to assets acquired 64,886,472    
Fair value of assets acquired:      
Suspense liability 677,116    
Asset retirement obligations 2,090,777    
Ad valorem tax liability 234,051    
Amount attributable to liabilities assumed 3,001,944    
Net assets acquired $ 61,884,528