REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2021

REVENUE FROM CONTRACTS WITH CUSTOMERS

REVENUE FROM CONTRACTS WITH CUSTOMERS

NOTE 12 – REVENUE FROM CONTRACTS WITH CUSTOMERS

Oil and Gas Contracts

The following table disaggregates revenue by significant product type for the year ended December 31, 2021 and the nine months ended December 31, 2020 respectively:

	December 31, 2021		December 31, 2020
Oil sales	$	273,234	$	109,570
Natural gas sales and liquids		127,988		41,244
Total oil and gas revenue from customers	$	401,222	$	150,814

There were no significant contract liabilities or transaction price allocations to any remaining performance obligations as of December 31, 2021 or 2020, respectively.

Revenue is generated from three customers, one of which represents in excess of 90% for both years.