ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of total depletion and depletion per barrel-of-oil-equivalent rate

	For the Years Ended December 31,
	2019		2018		2017
Depletion	$	55,870,246	$	38,810,864	$	20,197,690
Depletion rate, per barrel-of-oil-equivalent (BOE)	$	14.15	$	17.38	$	13.92

Schedule Of Property Plant And Equipment Estimated Useful Lives

Depreciation of buildings and equipment is calculated using the straight-line method based upon the following estimated useful lives:

Leasehold improvements	3‑10 years
Office equipment and software	3‑7 years
Machinery and equipment	5‑10 years