v3.26.1
ASSET RETIREMENT OBLIGATION (Tables)
3 Months Ended
Mar. 31, 2026
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Changes in Asset Retirement Obligations A reconciliation for the asset retirement obligation during the three months ended March 31, 2026 is as follows:
Balance, December 31, 2025$30,390,955 
Liabilities acquired— 
Liabilities incurred17,418 
Liabilities sold(51,635)
Liabilities settled(116,514)
Revision of estimate (1)
8,943 
Accretion expense395,496 
Balance, March 31, 2026
$30,644,663 
(1) The revisions recorded during the three months ended March 31, 2026 consisted of additional acquired working interests in three gross wells.
Schedule of Current and Non-Current Asset Retirement Obligations
The following table presents the Company's current and non-current asset retirement obligation balances as of the periods specified.
March 31, 2026December 31, 2025
Asset retirement obligations, current$397,413 $418,526 
Asset retirement obligations, non-current30,247,250 29,972,429 
Asset retirement obligations$30,644,663 $30,390,955