ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- Schedule of Depletion (Details) - USD ($) |
12 Months Ended | ||
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Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Depletion | $ 55,029,956 | $ 36,735,070 | $ 42,634,294 |
Depletion rate, per barrel-of-oil-equivalent (Boe) | $ 12.19 | $ 11.82 | $ 13.25 |
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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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