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

12 Months Ended

Dec. 31, 2021

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

	For the Years Ended December 31,
	2021		2020		2019
Depletion	$	36,735,070	$	42,634,294	$	55,870,246
Depletion rate, per barrel-of-oil-equivalent (BOE)	$	11.82	$	13.25	$	14.15

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	3‑10 years
Office equipment and software	3‑7 years
Equipment	5‑10 years