ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- Total depletion and depletion per barrel (Details) - USD ($) |
12 Months Ended | ||
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Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
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| ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||
| Depletion | $ 42,634,294 | $ 55,870,246 | $ 38,810,864 |
| Depletion rate, per barrel-of-oil-equivalent (BOE) | $ 13.25 | $ 14.15 | $ 17.38 |
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- Definition Depletion costs incurred in the oil during the reporting period divided by the number of barrels of oil equivalents (BOE) produced. No definition available.
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- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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