PROPERTY AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

The aggregate capitalized costs of oil and natural gas properties as of September 30, 2021, are as follows:

The aggregate capitalized costs of oil and natural gas properties as of September 30, 2021, are as follows:

Proved producing wells	$	18,865,150
Proved undeveloped		2,232,358
Lease, well and gathering equipment		5,054,033
Asset retirement obligation		18,696,199
Unproved leasehold costs		492,607
Gross capitalized costs		45,340,347
Less: accumulated depreciation, depletion and impairment		(17,081,053	)
	$	28,259,294

Other property and equipment consists of operating lease assets (See Note 10), vehicles, office furniture and equipment.

Other property and equipment consists of operating lease assets (See Note 10), vehicles, office furniture and equipment.

Other property and equipment, at cost	$	1,514,322
Less: accumulated depreciation		(228,563	)
Oher property and equipment, net	$	1,285,759