Property (Tables)

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Aggregate capitalized costs of oil and natural gas properties as of June 30, 2022 are as follows:

Aggregate capitalized costs of oil and natural gas properties as of June 30, 2022 are as follows: 

Proved producing wells	$	23,172,667
Proved undeveloped		2,777,634
Lease and well equipment		6,207,868
Asset retirement obligation		18,268,308
Gross capitalized costs		50,426,477
Accumulated depreciation, depletion, amortization and impairment		(18,202,939	)
Net capitalized costs	$	32,223,538

Other property and equipment consists of operating lease assets, vehicles, office furniture, and equipment with lives ranging from three to five years

Other property and equipment consists of operating lease assets, vehicles, office furniture, and equipment with lives ranging from three to five years.

Other property and equipment, at cost	$	1,731,485
Less: accumulated depreciation		(409,162	)
Other property and equipment, net	$	1,322,323