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ASSET RETIREMENT OBLIGATION (Tables)
 12 Months Ended
Dec. 31, 2015
ASSET RETIREMENT OBLIGATION [Abstract]  
Asset retirement obligation transactions
The following table summarizes the Company's asset retirement obligation transactions recorded during the year ended December 31, 2015 and 2014.

  
Year Ended December 31,
 
  
2015
  
2014
 
Beginning Asset Retirement Obligation
 
$
5,105,762
  
$
3,824,002
 
Liabilities Incurred During the Period
  
475,306
   
868,460
 
Revision of Estimates
  
(53,912
)
  
83,626
 
Accretion of Discount on Asset Retirement Obligations
  
372,461
   
461,762
 
Liabilities Settled During the Period
  
(83,261
)
  
(132,088
)
Ending Asset Retirement Obligation
 
$
5,816,356
  
$
5,105,762