Annual report pursuant to Section 13 and 15(d)

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.0.1
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2021
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of total depletion and depletion per barrel-of-oil-equivalent rate

For the Years Ended December 31, 

    

2021

    

2020

    

2019

Depletion

$

36,735,070

$

42,634,294

$

55,870,246

Depletion rate, per barrel-of-oil-equivalent (BOE)

$

11.82

$

13.25

$

14.15

Schedule Of Property Plant And Equipment Estimated Useful Lives

Depreciation of buildings, equipment , software and leasehold improvements is calculated using the straight-line method based upon the following estimated useful lives:

Leasehold improvements

    

3‑10 years

Office equipment and software

 

3‑7 years

Equipment

 

5‑10 years