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OIL AND NATURAL GAS PRODUCING ACTIVITIES | 12 Months Ended
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Dec. 31, 2024
Oil and Gas Disclosure [Abstract] |
OIL AND NATURAL GAS PRODUCING ACTIVITIES | NOTE 6 — OIL AND NATURAL GAS PRODUCING ACTIVITIES Set forth below is certain information regarding the aggregate capitalized costs of oil and natural gas properties and costs incurred by the Company for its oil and natural gas property acquisitions, development and exploration activities: Capitalized Costs
As of December 31, |  | 2024 |  | 2023
Oil and natural gas properties, full cost method |  |  |  |
Proved properties |  | 1,809,309,848 |  |  | 1,663,548,249 |
Unproved properties |  | — |  |  | — |
Total oil and natural gas properties, full cost method |  | 1,809,309,848 |  |  | 1,663,548,249 |
Accumulated depletion of oil and natural gas properties |  | (469,786,336) |  |  | (373,280,583) |
Net oil and natural gas properties capitalized |  | $ | 1,339,523,512 |  |  | $ | 1,290,267,666 |
Costs Incurred in Oil and Gas Producing Activities
For the years Ended December 31, |  | 2024 |  | 2023 |  | 2022
Payments to acquire oil and natural gas properties |  | $ | 2,210,826 |  |  | $ | 82,900,900 |  |  | $ | 179,387,490 |
Payments to explore oil and natural gas properties |  | — |  |  | — |  |  | — |
Payments to develop oil and natural gas properties |  | 153,945,456 |  |  | 152,559,314 |  |  | 129,332,155 |
Total costs incurred |  | $ | 156,156,282 |  |  | $ | 235,460,214 |  |  | $ | 308,719,645 |

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- Definition The entire disclosure for oil- and gas-producing activities considered to be supplementary information. Includes, but is not limited to, proved reserve quantity, cost incurred and capitalized, result of operation, standardized measure, and change in standardized measure of discounted future cash flow. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478688/932-270-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 12.A.3.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477759/932-235-S99-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section S50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479097/932-235-S50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-8 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/932/tableOfContent Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 36 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-36 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-8 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-5 + Details
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