Cash, Cash Equivalents, and Restricted Cash

9 Months Ended

Sep. 30, 2022

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

3. Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand and short term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Restricted cash consists of amounts deposited to back bonds or letters of credit for potential well liabilities. The Company presents restricted cash with cash and cash equivalents in the Consolidated Statements of Cash Flows.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the total of the amounts in the Consolidated Statements of Cash Flows as of September 30, 2022 and December, 31 2021:

	September 30,		December 31,
	2022		2021
Cash and cash equivalents	$	40,254,729	$	26,497,305
Restricted cash included in other assets		569,883		568,118
Cash, cash equivalents and restricted cash in the statement of cash flows	$	40,824,612	$	27,065,423