Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATION (Tables)

v3.26.1
ASSET RETIREMENT OBLIGATION (Tables)
6 Months Ended
Jun. 30, 2026
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Changes in Asset Retirement Obligations A reconciliation for the asset retirement obligation during the six months ended June 30, 2026 is as follows:
Balance, December 31, 2025 $ 30,390,955 
Liabilities acquired — 
Liabilities incurred 26,854 
Liabilities sold (51,635)
Liabilities settled (281,953)
Revision of estimate (1)
233,184 
Accretion expense 797,440 
Balance, June 30, 2026
$ 31,114,845 
(1) The revisions recorded during the six months ended June 30, 2026 consisted of additional acquired working interests in certain wells.
Schedule of Current and Non-Current Asset Retirement Obligations
The following table presents the Company's current and non-current asset retirement obligation balances as of the periods specified.
June 30, 2026 December 31, 2025
Asset retirement obligations, current $ 291,844  $ 418,526 
Asset retirement obligations, non-current 30,823,001  29,972,429 
Asset retirement obligations $ 31,114,845  $ 30,390,955