RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule of derivative instruments, gain (loss) [Table Text Block]

Year ended December 31,	Statements of Operations Location		2022			2021
Commodity derivative contracts
Unrealized gain (loss)	Gain / (loss) on derivative instruments	$	26,246,351		$	(15,903,217	)
Realized gain (loss)	Gain / (loss) on derivative instruments		(36,269,846	)		(17,622,236	)
Total gain (loss), net		$	(10,023,495	)	$	(33,525,453	)
Interest rate derivative contracts
Unrealized gain	Finance and interest expense	$	-		$	43,421
Realized gain	Finance and interest expense		623,579			-
Total gain (loss), net		$	623,579		$	43,421

Schedule of derivative instruments [Table Text Block]

			2023			2024			2025		Total Volumes
Crude Oil:
	WTI NYMEX - Swaps:
	Volumes (Bbl)		542,548			286,150			129,642		958,340
	Weighted Average Price ($/Bbl)	$	69.79		$	65.97		$	58.98
Natural Gas and Natural Gas Liquids:
	Natural Gas NYMEX - Swaps:
	Volumes (MMBtu)		5,306,902			2,606,643			1,331,415		9,244,960
	Weighted Average Price ($/MMBtu)	$	5.43		$	5.43		$	5.33
	Natural Gas NYMEX vs. Houston Ship Channel - Basis Swaps:
	Volumes (MMBtu)		465,214			325,088			177,009		967,311
	Weighted Average Price ($/MMBtu)	$	(0.07	)	$	(0.07	)	$	(0.07	)
	Mont Belvieu Natural Gas - Swaps:
	Volumes (Gal)		1,560,711			857,027			326,472		2,744,210
	Weighted Average Price ($/Gal)	$	1.30		$	1.57		$	1.65
	Mont Belvieu Ethane - Swaps:
	Volumes (Gal)		5,818,913			3,195,317			1,217,209		10,231,439
	Weighted Average Price ($/Gal)	$	0.30		$	0.34		$	0.36
	Mont Belvieu Propane - Swaps:
	Volumes (Gal)		3,466,691			1,903,650			725,170		6,095,511
	Weighted Average Price ($/Gal)	$	0.80		$	0.92		$	0.95
	Mont Belvieu Isobutane - Swaps:
	Volumes		673,486			369,828			140,880		1,184,194
	Weighted Average Price ($/Gal)	$	0.89		$	1.06		$	1.10
	Mont Belvieu N. Butane - Swaps
	Volumes		1,426,461			783,308			298,388		2,508,157
	Weighted Average Price ($/Gal)	$	0.87		$	1.04		$	1.08

Schedule of derivative assets and liabilities [Table Text Block]

As at December 31,		2022		2021
Derivative Assets:
Current assets	$	2,019,600	$	-
Noncurrent assets		1,057,479		-
Total Derivative Assets:	$	3,077,079	$	-
Derivative Liabilities:
Current liabilities	$	-	$	6,479,508
Noncurrent liabilities		-		13,901,672
Total Derivative Liabilities:	$	-	$	20,381,180