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BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash $ 10,004,622 $ 3,363,726
Accounts receivable 22,909,195 12,643,478
Joint interest billing receivable 1,812,469 578,144
Prepaid expenses and retainers 3,982,255 258,909
Total Current Assets 38,708,541 16,844,257
Properties and Equipment    
Oil and natural gas properties subject to amortization 1,083,966,135 641,121,398
Financing lease asset subject to depreciation 858,513 0
Fixed assets subject to depreciation 1,465,551 1,465,551
Total Properties and Equipment 1,086,290,199 642,586,949
Accumulated depreciation, depletion and amortization (157,074,044) (100,576,087)
Net Properties and Equipment 929,216,155 542,010,862
Operating lease asset 1,867,044 0
Deferred Income Taxes 0 7,786,479
Deferred Financing Costs 3,214,408 424,061
Total Assets 973,006,148 567,065,659
Current Liabilities    
Accounts payable 54,635,602 51,910,432
Financing lease liability 280,970 0
Operating lease liability 1,175,904  
Derivative liabilities 3,000,078 0
Total Current Liabilities 59,092,554 51,910,432
Deferred income taxes 6,001,176 0
Revolving line of credit 366,500,000 39,500,000
Financing lease liability 424,126 0
Operating lease liability 691,140  
Asset retirement obligations 16,787,219 13,055,797
Total Liabilities 449,496,215 104,466,229
Stockholders' Equity    
Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock - $0.001 par value; 150,000,000 shares authorized; 67,993,797 shares and 63,229,710 shares issued and outstanding, respectively 67,994 63,230
Additional paid-in capital 526,301,281 494,892,093
Accumulated deficit (2,859,342) (32,355,893)
Total Stockholders' Equity 523,509,933 462,599,430
Total Liabilities and Stockholders' Equity $ 973,006,148 $ 567,065,659