COMMODITY DERIVATIVE INSTRUMENTS - Schedule of Carrying Values of Derivatives Positions and their Locations on Consolidated Balance Sheets (Details) - USD ($)	12 Months Ended
Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative commodity asset (liability)	$ (375,850)	$ 695,941
Gain (loss) on commodity derivative contracts	(2,458,359)	1,062,682
Crude oil swaps
Derivative [Line Items]
Derivative commodity asset		48,724
Derivative commodity liability	(133,628)
Crude oil futures
Derivative [Line Items]
Derivative commodity asset		$ 647,217
Derivative commodity liability	$ (242,222)

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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- Definition

Fair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments.

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Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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The difference between the book value and the sale price of agreements to purchase or sell mineral resources, energy, and agricultural products at some future point. This element refers to the gain (loss) included in earnings and not to the cash proceeds.

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