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Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

The Company’s asset retirement obligation transactions during the years ended December 31, 2023 and 2022 are summarized in the table below.

The Company’s asset retirement obligation transactions during the years ended December 31, 2023 and 2022 are summarized in the table below.

		For the Year Ended December 31,
		2023				2022
Asset retirement obligations, beginning of period		$	25,000,740			$	20,640,599
Liabilities assumed in acquisitions			72,000				502,539
Revisions			2,303,938				2,660,653
Liabilities settled			(964,274	)			(160,957	)
Accretion expense			1,756,023				1,357,906
Asset retirement obligation, end of period		$	28,168,427			$	25,000,740
Less current portion included in Accrued Expenses			700,000				—
Asset retirement obligation, long-term		$	27,468,427			$	25,000,740

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- References

No definition available.

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- Definition

Tabular disclosure of the carrying amount of a liability for asset retirement obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-1

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