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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2019
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of total depletion and depletion per barrel-of-oil-equivalent rate |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Years Ended December 31,
​ |  | 2019 |  | 2018 |  | 2017
Depletion | ​ | $ | 55,870,246 | ​ | $ | 38,810,864 | ​ | $ | 20,197,690
Depletion rate, per barrel-of-oil-equivalent (BOE) | ​ | $ | 14.15 | ​ | $ | 17.38 | ​ | $ | 13.92
​
Schedule Of Property Plant And Equipment Estimated Useful Lives | Depreciation of buildings and equipment is calculated using the straight-line method based upon the following estimated useful lives:
​ | ​ | ​
Leasehold improvements |  | 3‑10 years
Office equipment and software |  | 3‑7 years
Machinery and equipment |  | 5‑10 years
​

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