XML 11 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
REVENUES    
Total revenues $ 10,104,664 $ 7,660,939
DIRECT COST OF REVENUES    
Production costs 3,256,946 2,160,029
Well management and operating 320,962 299,581
Depreciation, depletion and amortization 637,642 940,143
Accretion expense 313,641 355,127
Total direct cost of revenues 4,529,191 3,754,880
GENERAL AND ADMINISTRATIVE EXPENSE 2,250,442 2,264,424
Total cost of revenues 6,779,633 6,019,304
INCOME FROM OPERATIONS 3,325,031 1,641,635
OTHER INCOME    
Interest and dividend income 393,810 146,710
Gain on disposal of property and equipment 644,898 80,368
Gain on sale of other assets 15,164 175,612
Total other income 1,053,872 402,690
INCOME BEFORE INCOME TAXES 4,378,903 2,044,325
INCOME TAX EXPENSE (BENEFIT)    
Current (65,060) 5,000
Deferred 3,000 (36,300)
Total income tax benefit (62,060) (31,300)
NET INCOME 4,440,963 2,075,625
Allocation of Partnership Net Income:    
Limited Partners 4,388,088 2,050,996
General Partner 52,875 24,629
Net income $ 4,440,963 $ 2,075,625
Net income per unit (in dollars per share) $ 0.79 $ 0.37
Oil and Gas [Member]    
REVENUES    
Total revenues $ 9,547,117 $ 7,086,476
Oil and Gas Service [Member]    
REVENUES    
Total revenues 551,498 512,043
Product and Service, Other [Member]    
REVENUES    
Total revenues $ 6,049 $ 62,420