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STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Oil and Gas Revenues $ 66,699,700 $ 30,850,248 $ 31,013,892
Costs and Operating Expenses      
Oil and gas production costs 15,978,362 9,867,800 9,958,380
Oil and gas production taxes 3,152,562 1,504,620 1,468,073
Depreciation, depletion and amortization 20,517,780 11,483,314 15,175,791
Ceiling test impairment 0 56,513,016 9,312,203
Asset retirement obligation accretion 567,968 487,182 418,384
General and administrative expense 10,515,887 8,027,077 7,995,395
Total Costs and Operating Expenses 50,732,559 87,883,009 44,328,226
Income (Loss) from Operations 15,967,141 (57,032,761) (13,314,334)
Other Income (Expense)      
Interest income 291,083 56,498 6,984
Interest expense 0 (649,009) (749,134)
Realized loss on derivatives (119,897) 0 0
Unrealized loss on change in fair value of derivatives (3,968,287) 0 0
Net Other Income (Expense) (3,797,101) (592,511) (742,150)
Income (Loss) Before Provision for Income Taxes 12,170,040 (57,625,272) (14,056,484)
(Provision for) Benefit from Income Taxes (10,416,171) 19,987,585 5,003,713
Net Income (Loss) $ 1,753,869 $ (37,637,687) $ (9,052,771)
Basic Earnings (Loss) per share $ 0.03 $ (0.97) $ (0.32)
Diluted Earnings (Loss) per share $ 0.03 $ (0.97) $ (0.32)