Oil and natural gas properties (under successful efforts accounting)

6 Months Ended

Jun. 30, 2015

Oil and natural gas properties, net of impairment (under successful efforts accounting)

Oil and natural gas properties are comprised of the following:



	June 30, 2015			December 31, 2014
Oil and natural gas properties	$	3,566,211		$	2,838,573
Less: accumulated depletion	(1,953,660		)	(1,942,380		)
Oil and natural gas properties, net	$	1,612,551		$	896,193

Depletion, depreciation, accretion, and amortization expense for the three months ended June 30, 2015 and 2014 was $175,815 and $92,040, respectively, and for the six months ended June 30, 2015 and 2014 was $251,014 and $170,071, respectively. During the six months ended June 30, 2015 and 2014, the Company recorded impairment losses of $306,387 and $0, respectively.