FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2020

FAIR VALUE MEASUREMENTS

Schedule of assets and liabilities measured at fair value on a recurring basis

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Effect of Counterparty Netting		Total
June 30, 2020
Assets
Commodity derivative contracts	$	—	$	3,231,583	$	—	$	—	$	3,231,583
Liabilities
Commodity derivative contracts	$	—	$	(350,360)	$	—	$	—	$	(350,360)
December 31, 2019
Assets
Commodity derivative contracts	$	—	$	804,501	$	—	$	—	$	804,501