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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 9,804,977 $ 14,204,250
Oil, natural gas and NGL receivables 17,552,756 19,170,762
Commodity derivative assets   687,933
Accounts receivable and other current assets 973,956 76,868
Total current assets 28,331,689 34,139,813
Property and equipment, net 1,964,660 1,327,057
Investment in affiliate (equity method) 5,134,951 2,952,264
Oil and natural gas properties    
Oil and natural gas properties, using full cost method of accounting ($225,681,626 and $275,041,784 excluded from depletion at December 31, 2020 and 2019, respectively) 1,149,095,232 1,033,355,017
Less: accumulated depreciation, depletion and impairment (628,102,279) (328,913,425)
Total oil and natural gas properties, net 520,992,953 704,441,592
Right-of-use assets, net 3,123,454 3,399,634
Commodity derivative assets   116,568
Loan origination costs, net 5,086,486 2,217,126
Total assets 564,634,193 748,594,054
Current liabilities    
Accounts payable 888,735 1,207,736
Other current liabilities 4,765,161 4,231,579
Commodity derivative liabilities 3,113,178  
Total current liabilities 8,767,074 5,439,315
Operating lease liabilities, excluding current portion 2,848,452 3,124,416
Commodity derivative liabilities 3,167,685  
Long-term debt 171,550,142 100,135,477
Total liabilities 186,333,353 108,699,208
Commitments and contingencies (Note 16)
Mezzanine equity:    
Series A preferred units (55,000 and 110,000 units issued and outstanding as of December 31, 2020 and 2019, respectively) 42,666,102 74,909,732
Unitholders' equity:    
Common units (38,918,689 units issued and outstanding as of December 31, 2020 and 23,518,652 units issued and outstanding as of December 31, 2019) 257,593,307 282,549,841
Class B units (20,779,781 units issued and outstanding as of December 31, 2020 and 25,557,606 units issued and outstanding as of December 31, 2019) 1,038,989 1,277,880
Total unitholders' equity 258,632,296 283,827,721
Noncontrolling interest 77,002,442 281,157,393
Total equity 335,634,738 564,985,114
Total liabilities, mezzanine equity and unitholders' equity $ 564,634,193 $ 748,594,054