BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Depletion (Details) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
| Depletion | $ 25,302,058 | $ 21,711,123 | $ 73,056,856 | $ 63,203,473 |
| Depletion rate, per barrel-of-oil-equivalent (Boe) | $ 13.68 | $ 13.48 | $ 13.57 | $ 13.09 |
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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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