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Oil and Gas Properties
 9 Months Ended
Sep. 30, 2023
Oil and Gas Properties  
Oil and Gas Properties

Note 6. Oil and Gas Properties 

 

The following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the nine months ended September 30, 2023:

 

 

 

December 31,

 

 

 

 

 

 

September 30,

 

 

 

2022

 

 

Adjustments

 

 

Impairments

 

 

2023

 

Proved developed producing oil and gas properties

 

 

 

 

 

 

 

 

 

 

 

 

United States cost center

 

$3,872,488

 

 

$1,475,000

 

 

$-

 

 

$5,347,488

 

Accumulated depreciation, depletion and amortization

 

 

(2,803,375 )

 

 

(134,368 )

 

 

-

 

 

 

(2,937,743 )

Proved developed producing oil and gas properties, net

 

$1,069,113

 

 

$1,340,632

 

 

$-

 

 

$2,409,745

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Undeveloped and non-producing oil and gas properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States cost center

 

 

785,302

 

 

 

-

 

 

 

-

 

 

 

785,302

 

Accumulated depreciation, depletion and amortization

 

 

(568,497 )

 

 

(30,703 )

 

 

-

 

 

 

(599,200 )

Undeveloped and non-producing oil and gas properties, net

 

$216,805

 

 

$(30,703 )

 

$-

 

 

$186,102

 

Total Oil and Gas Properties, Net

 

$1,285,918

 

 

$1,309,929

 

 

$-

 

 

$2,595,847

 

 

During the three months ended September 30, 2023, the Company recorded an addition to oil and gas properties of $1,475,000 related to the merger with Camber (see Note 5).