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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current Assets:    
Cash $ 3,149,716 $ 7,792,508
Accounts Receivable 6,505,741 8,354,636
Derivative Instruments 406,806
Inventory 1,499,206 1,433,454
Prepaids 576,340 757,500
Total Current Assets 11,731,003 18,744,904
Property and Equipment:    
Oil and Natural Gas Properties, Successful Efforts 136,391,055 93,509,803
Less: Accumulated Depreciation, Depletion and Impairment (29,561,539) (22,996,805)
Total Oil and Gas Properties, Net 106,829,516 70,512,998
Other Property and Equipment, Net 1,436,491 1,883,211
Total Property and Equipment, Net 108,266,007 72,396,209
Other Noncurrent Assets 1,245,519 1,474,503
Total Assets 121,242,529 92,615,616
Current Liabilities:    
Accounts Payable 18,238,400 16,437,219
Accrued Expenses 8,146,457 7,075,302
Current Portion of Lease Liability 415,850 432,822
Current Portion of Note Payable - Related Party (Note 8) 1,060,004
Current Portion of Long-Term Debt 193,178 44,225
Total Current Liabilities 26,993,885 25,049,572
Long-Term Debt 8,512,020 4,596,775
Long Term Lease Liability 238,674 544,382
Asset Retirement Obligations 28,968,173 27,468,427
Total Liabilities 64,712,752 57,659,156
Stockholders' Equity:    
Series A Preferred Stock - $0.001 Par Value, 10,000,000 Shares Authorized, 6 and 6 Shares Issued and Outstanding, Respectively
Common Stock - $0.001 Par Value, 190,000,000 Shares Authorized, 31,656,934 and 25,503,530 Shares Issued and Outstanding, Respectively 91,179 85,025
Additional Paid-in Capital 133,061,997 99,490,253
Accumulated Deficit (76,623,399) (64,618,818)
Total Stockholders' Equity 56,529,777 34,956,460
Total Liabilities and Stockholders' Equity $ 121,242,529 $ 92,615,616