Oil and natural gas properties (under successful efforts accounting)

9 Months Ended

Sep. 30, 2015

Extractive Industries [Abstract]

Oil and natural gas properties

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

Oil and natural gas properties are comprised of the following:

	September 30, 2015			December 31, 2014
Oil and natural gas properties	$	3,578,864		$	2,838,573
Less: accumulated depletion	(2,036,467		)	(1,942,380		)
Oil and natural gas properties, net	$	1,542,397		$	896,193

Depletion, depreciation, accretion, and amortization expense for the three months ended September 30, 2015 and 2014 was $84,423 and $81,952, respectively, and for the nine months ended September 30, 2015 and 2014 was $335,437 and $252,024, respectively. During the nine months ended September 30, 2015 and 2014, the Company recorded impairment losses of $309,539 and $0, respectively.