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PROPERTY AND EQUIPMENT (Tables)
6 Months Ended
Jun. 30, 2019
Property And Equipment  
Schedule of capitalized costs of oil and natural gas properties

The aggregate capitalized costs of oil and natural gas properties as of June 30, 2019, are as follows:

 

Proved producing wells   $ 3,904,291  
Proved undeveloped     2,232,458  
Lease and well equipment     1,109,686  
Asset retirement obligation     3,629,491  
Gross capitalized costs     10,875,926  
Less: accumulated depreciation and depletion     (895,472 )
    $ 9,980,454  

 

Other property and equipment consists of office furniture and equipment.

 

Oher property and equipment, at cost   $ 14,456  
Less: accumulated depreciation     (262 )
Oher property and equipment, net     14,194