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PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
3. PROPERTY AND EQUIPMENT

In 2018, the Company, through its subsidiary, Empire Louisiana, LLC, purchased oil and natural gas properties in St. Landry and Beauregard parishes in Louisiana. In March 2019, the Company, through its subsidiary, Empire North Dakota, LLC, purchased oil and natural gas properties in Montana and North Dakota.

 

The aggregate capitalized costs of oil and natural gas properties as of March 31, 2019, are as follows:

 

Proved producing wells   $ 3,302,921  
Proved undeveloped     2,131,560  
Lease and well equipment     964,926  
Asset retirement obligation     3,496,101  
Gross capitalized costs     9,895,508