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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 11,262,351 $ 14,204,250
Oil, natural gas and NGL receivables 11,766,671 19,170,762
Commodity derivative assets 3,231,583 687,933
Accounts receivable and other current assets 387,777 76,868
Total current assets 26,648,382 34,139,813
Property and equipment, net 1,230,601 1,327,057
Investment in affiliate (equity method) 4,148,310 2,952,264
Oil and natural gas properties    
Oil and natural gas properties, using full cost method of accounting ($242,656,886 and $275,041,784 excluded from depletion at June 30, 2020 and December 31, 2019, respectively) 1,148,913,244 1,033,355,017
Less: accumulated depreciation, depletion and impairment (490,530,741) (328,913,425)
Total oil and natural gas properties, net 658,382,503 704,441,592
Right-of-use assets, net 3,263,675 3,399,634
Commodity derivative assets   116,568
Loan origination costs, net 1,684,490 2,217,126
Total assets 695,357,961 748,594,054
Current liabilities    
Accounts payable 1,190,215 1,207,736
Other current liabilities 4,692,330 4,231,579
Total current liabilities 5,882,545 5,439,315
Operating lease liabilities, excluding current portion 2,988,755 3,124,416
Commodity derivative liabilities 350,360  
Long-term debt 171,723,602 100,135,477
Total liabilities 180,945,262 108,699,208
Commitments and contingencies (Note 15)
Mezzanine equity:    
Series A preferred units (55,000 and 110,000 units issued and outstanding as of June 30, 2020 and December 31, 2019, respectively) 41,435,172 74,909,732
Unitholders' equity:    
Common units (36,588,023 units issued and outstanding as of June 30, 2020 and 23,518,652 units issued and outstanding as of December 31, 2019) 328,679,253 282,549,841
Class B units (23,141,181 units issued and outstanding as of June 30, 2020 and 25,557,606 units issued and outstanding as of December 31, 2019) 1,157,059 1,277,880
Total unitholders' equity 329,836,312 283,827,721
Noncontrolling interest 143,141,215 281,157,393
Total equity 472,977,527 564,985,114
Total liabilities, mezzanine equity and unitholders' equity $ 695,357,961 $ 748,594,054