Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.20.2
ACQUISITIONS (Tables)
6 Months Ended
Jun. 30, 2020
ACQUISITIONS  
Schedule of fair values of the assets acquired and the liabilities assumed

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Assets acquired:

    

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Proved oil and gas properties

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$

296,910,774

Joint interest billing receivable

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1,464,394

Prepaid assets

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2,864,554

Liabilities assumed

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Accounts and revenues payable

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(1,234,862)

Asset retirement obligations

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(2,979,645)

Total Identifiable Net Assets

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$

297,025,215

Schedule of business acquisition pro forma information

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For The Three Months

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For The Six Months

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Ended June 30, 

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Ended June 30, 

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2019

    

2019

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(restated)

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(restated)

Oil and Gas Revenues

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$

57,999,639

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$

99,797,954

Net Income

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$

11,403,039

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$

15,672,299

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Basic Earnings per Share

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$

0.17

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$

0.23

Diluted Earnings per Share

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$

0.17

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$

0.23