Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation of the ARO Liability

The following table is a reconciliation of the ARO liability for the twelve months ended December 31, 2015 and 2014.

	Years Ended December 31,
	2015			2014
Asset retirement obligation at beginning of period	$	44,214		$	51,954
Liabilities incurred	2,506			3,721
Revisions to previous estimates and sales of properties	60,832			(14,821		)
Liabilities on properties sold or settled	(3,721		)	—
Accretion expense	5,340			$	3,360
Asset retirement obligation at end of period	$	109,171		$	44,214

Schedule of Common Stock and Common Stock Equivalents

The following table outlines outstanding common stock shares and common stock equivalents.

	Years Ended December 31,
	2015	2014
Common Stock Shares Outstanding	31,220,326	29,202,826
Common Stock Equivalents Outstanding
Warrants	8,622,486	5,937,386
Stock Options	1,430,000	610,000
Unconverted Class B Shares	137,932	137,932
Total Common Stock Equivalents Outstanding	10,190,418	6,685,318