Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATION (Tables)

v3.26.3
ASSET RETIREMENT OBLIGATION (Tables)
9 Months Ended
Sep. 30, 2026
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Changes in Asset Retirement Obligations A reconciliation for the asset retirement obligation during the nine months ended September 30, 2026 is as follows:
Balance, December 31, 2025 $ 30,390,955 
Liabilities acquired — 
Liabilities incurred 55,007 
Liabilities sold (69,166)
Liabilities settled (888,957)
Revision of estimate (1)
233,184 
Accretion expense 1,203,169 
Balance, September 30, 2026
$ 30,924,192 
(1) The revisions recorded during the nine months ended September 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.
September 30, 2026 December 31, 2025
Asset retirement obligations, current $ 291,844  $ 418,526 
Asset retirement obligations, non-current 30,632,348  29,972,429 
Asset retirement obligations $ 30,924,192  $ 30,390,955