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5. Property and Equipment (Tables) | 9 Months Ended
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Sep. 30, 2015
Property and equipment: |
Property and equipment |
|  | September 30, |  |  | December 31, |
|  | 2015 |  |  | 2014 |
Oil and gas properties, full cost method: |  |  |  |  |  |  |  |
Evaluated costs |  | $ | 128,083,460 |  |  | $ | 112,418,105 |
Unevaluated costs, not subject to amortization or ceiling test |  |  | 803,718 |  |  |  | 591,121 |
|  |  | 128,887,178 |  |  |  | 113,009,226 |
Other property and equipment |  |  | 139,004 |  |  |  | 139,004 |
|  |  | 129,026,182 |  |  |  | 113,148,230 |
Less: Accumulated depreciation, amortization, depletion and impairments |  |  | (78,895,166 | ) |  |  | (18,902,524 | )
Total property and equipment, net |  | $ | 50,131,016 |  |  | $ | 94,245,706 |
Depreciation, depletion, and amortization expense |
|  | Nine Months Ended |
|  | September 30, |
|  | 2015 |  |  | 2014 |
Depletion of costs for evaluated oil and gas properties |  | $ | 7,346,356 |  |  | $ | 5,994,180 |
Depreciation and amortization of other property and equipment |  |  | 12,286 |  |  |  | 24,327 |
Total depreciation, amortization and depletion |  | $ | 7,358,642 |  |  | $ | 6,018,507 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 + Details
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