Annual report pursuant to Section 13 and 15(d)

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Depletion and Depletion Rate per Barrel of Oil Equivalents The following table shows total depletion and the depletion per barrel-of-oil-equivalent rate, for the years ended December 31, 2022, 2021, and 2020.
For the Years Ended December 31,
2022 2021 2020
Depletion $ 55,029,956  $ 36,735,070  $ 42,634,294 
Depletion rate, per barrel-of-oil-equivalent (Boe) $ 12.19  $ 11.82  $ 13.25 
Schedule of Property Plant and Equipment Estimated Useful Lives
Depreciation of buildings, equipment , software and leasehold improvements is calculated using the straight-line method based upon the following estimated useful lives:
Leasehold improvements
3‑5 years
Office equipment and software
3‑7 years
Equipment
5‑10 years
Automobiles 4 years