DERIVATIVE FINANCIAL INSTRUMENTS - Components of Gain (loss) on Derivative Contracts (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Unrealized gain (loss) on derivatives | $ (20,843,094) | $ 12,739,565 | ||
| Gain (loss) on derivative contracts | $ (1,828,599) | $ 3,264,660 | (20,843,094) | 12,739,565 |
| Oil | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Realized gain (loss) on derivatives | (4,073,127) | (833,841) | (6,812,097) | (1,497,603) |
| Unrealized gain (loss) on derivatives | 2,308,594 | 4,545,136 | (14,685,728) | 12,652,157 |
| Gain (loss) on derivative contracts | (1,764,533) | 3,711,295 | (21,497,825) | 11,154,554 |
| Natural Gas | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Realized gain (loss) on derivatives | 1,478,630 | 1,013,436 | 2,756,085 | 1,018,673 |
| Unrealized gain (loss) on derivatives | (1,542,696) | (1,460,071) | (2,101,354) | 566,338 |
| Gain (loss) on derivative contracts | $ (64,066) | $ (446,635) | $ 654,731 | $ 1,585,011 |
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The difference between the book value and the sale price of options, swaps, futures, forward contracts, and other derivative instruments. This element refers to the gain (loss) included in earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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