v3.26.1
OIL AND GAS PROPERTIES, REAL PROPERTY AND EQUIPMENT AND FIXTURES
 12 Months Ended
Dec. 31, 2025
Oil and Gas Disclosure [Abstract]  
Oil and Gas, Property and Equipment [Text Block]

NOTE 2 – OIL AND GAS PROPERTIES, REAL PROPERTY AND EQUIPMENT AND FIXTURES

 

Oil and gas properties, real property and equipment and fixtures consist of:

 

   Year ended December 31, 
   2025   2024 
Oil and Gas        
Producing properties, including intangible drilling costs  $7,229,767   $5,764,761 
Undeveloped properties   3,237,624    3,339,234 
Lease and well equipment   3,298,441    3,295,028 
Total Oil and Gas Properties   13,765,832    12,399,023 
Accumulated depletion, depreciation and amortization   (7,995,503)   (7,748,190)
Net capitalized costs Total  $5,770,329   $4,650,833 

 

Commercial and Other  2025    2024 
Vehicles   40,061    40,061 
Furniture and equipment   1,103,362    1,103,362 
Total Commercial and Other   1,143,423    1,143,423 
Accumulated depreciation   (1,139,574)   (1,137,597)
    3,849    5,826 
Net capitalized costs Total  $5,774,178   $4,656,659 

 

The guidance set forth in the Continued Capitalization of Exploratory Well Costs paragraph of the Extractive Activities Topic of the FASB ASC requires that we evaluate all existing capitalized exploratory well costs and disclose the extent to which any such capitalized costs have become impaired and are expensed or reclassified during a fiscal period. We do not have any capitalized exploratory well costs. Undeveloped properties are not subject to depletion, depreciation or amortization.