v3.26.1
ASSET RETIREMENT OBLIGATION (Tables)
6 Months Ended
Jun. 30, 2026
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Changes in Asset Retirement Obligations A reconciliation for the asset retirement obligation during the six months ended June 30, 2026 is as follows:
Balance, December 31, 2025$30,390,955 
Liabilities acquired— 
Liabilities incurred26,854 
Liabilities sold(51,635)
Liabilities settled(281,953)
Revision of estimate (1)
233,184 
Accretion expense797,440 
Balance, June 30, 2026
$31,114,845 
(1) The revisions recorded during the six months ended June 30, 2026 consisted of additional acquired working interests in certain 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.
June 30, 2026December 31, 2025
Asset retirement obligations, current$291,844 $418,526 
Asset retirement obligations, non-current30,823,001 29,972,429 
Asset retirement obligations$31,114,845 $30,390,955