OIL AND NATURAL GAS PRODUCING ACTIVITIES - Net Costs Incurred in Oil and Gas Producing Activities (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
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| OIL AND NATURAL GAS PRODUCING ACTIVITIES | |||
| Payments for the Wishbone Acquisition | $ 0 | $ 276,061,594 | $ 0 |
| Payments to purchase oil and natural gas properties | 1,317,313 | 3,400,411 | 4,656,484 |
| Proceeds from divestiture of oil and natural gas properties | 0 | (8,547,074) | 0 |
| Payments to develop oil and natural gas properties | 42,457,745 | 152,125,320 | 198,870,366 |
| Payments to acquire or improve fixed assets subject to depreciation | 55,339 | 0 | $ 0 |
| Total Net Costs Incurred | $ 43,830,397 | $ 423,040,251 | |
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- Definition The net cash outflow or inflow from purchases, sales and disposals of oil and gas producing activities. No definition available.
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- References No definition available.
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- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow for acquisition of machinery and equipment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow to purchase of mineral interests in oil and gas properties for use in the normal oil and gas operations and not intended for resale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow for exploration and development of oil and gas properties. It includes cash payments related to development of oil and gas wells drilled at previously untested geologic structures (to determine the presence of oil or gas) and wells drilled at sites where the presence of oil or gas has already been established (to extract the oil or gas). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow to dispose of long-lived, physical assets and mineral interests in oil and gas properties used for normal oil and gas operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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