ACQUISITIONS AND DIVESTITURES (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Final Allocation of the Total Cost of the Lime Rock Acquisition

The following table represents the final allocation of the total cost of the Lime Rock Acquisition to the assets acquired and liabilities assumed as of the Lime Rock Acquisition date:


Consideration:
Common stock consideration
Shares of common stock issued	6,452,879
Common stock price as of March 31, 2025	$	1.15
Total common stock consideration	$	7,420,811
Cash consideration
Escrow deposit released at closing	$	5,000,000
Closing amount paid to Lime Rock	63,599,939

Fair value of deferred payment liability	9,415,066
Post-close adjustments	721,116
Total cash consideration	$	78,736,121
Direct transaction costs	2,576,648
Total consideration	$	88,733,580

Fair value of assets acquired:
Oil and natural gas properties	$	92,111,309
Fixed assets	34,275
Joint interest billing receivable	39,820
Amount attributable to assets acquired	$	92,185,404
Fair value of liabilities assumed:
Suspense liability	$	459,096
Asset retirement obligations	2,587,179
Ad valorem tax liability	405,549
Amount attributable to liabilities assumed	$	3,451,824
Net assets acquired	$	88,733,580