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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2019
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of gain loss on derivatives

    Three months ended March 31,  
    2020     2019  
Gain (loss) on derivatives:                
Oil derivatives   $ 2,509,045     $ (67,596 )
Natural gas derivatives           (763 )
Total   $ 2,509,045     $ (68,359 )
Schedule of net cash receipts from derivatives

    Three months ended March 31,  
    2020     2019  
Net cash received from payments on derivatives                
Oil derivatives   $ 533,285     $ 19,349  
Natural gas derivatives           406  
Total   $ 533,285     $ 19,755  
Schedule of notional amounts of outstanding derivative

 

    1st Quarter     2nd Quarter     3rd Quarter     4th Quarter  
2020                                
Oil Swaps:                                
Volume (MBbl)           16.06       16.02       15.78  
Price per Bbl         $ 59.62     $ 58.39     $ 55.18  
                                 
                                 
2021                                
Oil Swaps:                                
Volume (MBbl)     15.52       15.18              
Price per Bbl   $ 49.40     $ 50.87