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LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Future Lease Payments of Operating Lease and Finance Lease
Future lease payments associated with these operating and financing leases as of June 30, 2025 are as follows:
20252026202720282029Other Future YearsTotal
Operating lease payments (1)
$366,218 $636,649 $460,497 $250,606 $149,628 $— $1,863,598 
Financing lease payments (2)
433,416 664,994 282,147 24,213 — — 1,404,770 

(1)The weighted average annual discount rate as of June 30, 2025 for operating leases was 4.50%. Based on this rate, the future lease payments above include imputed interest of $127,547. The weighted average remaining term of operating leases was 3.05 years.
(2)The weighted average annual discount rate as of June 30, 2025 for financing leases was 7.50%. Based on this rate, the future lease payments above include imputed interest of $99,639. The weighted average remaining term of financing leases was 1.90 years.
Schedule of Reconciliation Between the Undiscounted Future Cash Flows and the Operating and Financing Lease Liabilities
The following table represents a reconciliation between the undiscounted future cash flows in the table above and the operating and financing lease liabilities disclosed in the Condensed Balance Sheets:
As of
June 30, 2025December 31, 2024
Operating lease liability, current portion$674,927 $648,204 
Operating lease liability, non-current portion1,061,124 1,405,837 
Operating lease liability, total$1,736,051 $2,054,041 
Total undiscounted future cash flows (sum of future operating lease payments)1,863,598 2,224,840 
Imputed interest127,547 170,799 
Undiscounted future cash flows less imputed interest$1,736,051 $2,054,041 
Financing lease liability, current portion$724,527 $906,119 
Financing lease liability, non-current portion580,604 647,078 
Financing lease liability, total$1,305,131 $1,553,197 
Total undiscounted future cash flows (sum of future financing lease payments)1,404,770 1,667,763 
Imputed interest99,639 114,566 
Undiscounted future cash flows less imputed interest$1,305,131 $1,553,197 
Schedule of Lease Cost
The following table provides supplemental information regarding lease costs in the Condensed Statements of Operations:
For the Three Months Ended
For the Six Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Operating lease costs$175,090 $175,090 $350,181 $350,181 
Short-term lease costs (1)
1,260,098 1,104,057 2,412,402 2,085,348 
Financing lease costs:
Amortization of financing lease assets (2)
238,618 271,463 503,405 532,364 
Interest on financing lease liabilities (3)
27,638 31,422 56,379 62,739 

(1)Amount included in Lease operating expenses
(2)Amount included in Depreciation, depletion and amortization
(3)Amount included in Interest (expense)