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Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Property and Equipment

Schedule of property and equipment

The following table summarizes the Company’s property and equipment as of June 30, 2023 and December 31, 2022:

​	​	​	​	​	​	​
​		June 30,			December 31,
​	​	2023		​	2022
Property and equipment:	​	​	​	​	​	​
Oil and gas properties, successful efforts method	​	​	​	​	​	​
Proved properties	​	$	152,014,489	​	$	148,326,265
Unproved properties	​	​	25,989,679	​	​	18,169,157
Accumulated depletion, depreciation, amortization and impairment	​	​	(109,996,874)	​	​	(107,729,293)
Total oil and gas properties, net	​	​	68,007,294	​	​	58,766,129
Gathering system	​	​	42,673,506	​	​	42,639,001
Accumulated depletion, depreciation, amortization and impairment	​	​	(35,026,730)	​	​	(34,500,740)
Total gathering system, net	​	​	7,646,776	​	​	8,138,261
Land	​	​	637,764	​	​	637,764
Buildings and other property and equipment, net	​	​	312,830	​	​	286,035
Total property and equipment, net	​	$	76,604,664	​	$	67,828,189

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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