Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Properties (Tables)

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Oil and Gas Properties (Tables)
6 Months Ended
Jun. 30, 2018
Oil And Gas Properties  
Schedule of oil and gas activities

The following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the six months ended June 30, 2018:

 

   

December 31,

2017

    Adjustments     Impairments    

June 30,

2018

 
                         
Proved developed producing oil and gas properties                        
Canada cost center   $ 23,279     $ -     $ -     $ 23,279  
United States cost center     12,513,088       (413,332 )     -       12,099,756  
Accumulated depreciation, depletion and amortization     (235,226 )     (309,995 )     -       (545,221 )
Proved developed producing oil and gas properties, net   $ 12,301,141     $ (723,327 )   $ -     $ 11577,814  
                                 
Undeveloped and non-producing oil and gas properties                                
Canada cost center   $ 382,935     $ -     $ -     $ 382,935  
United States cost center     26,851,244       1,752,694       -       28,603,938  
Accumulated depreciation, depletion and amortization     (374,545 )     (610,476 )     -       (985,021 )
Undeveloped and non-producing oil and gas properties, net   $ 26,859,634     $ 1,142,218     $ -     $ 28,001,852  
                                 
Total Oil and Gas Properties, Net   $ 39,160,775     $ 418,891     $ -     $ 39,579,666  

 

The following table summarizes the Company’s oil and gas activities by classification for the year ended December 31, 2017:

 

    December 31,                 December 31,  
    2016     Adjustments     Impairments      2017  
Proved developed producing oil and gas properties                        
Canada cost center   $ 34,733     $ (11,454 )   $ -     $ 23,279  
United States cost center     1,787,840       10,725,248       -       12,513,088  
Accumulated depreciation, depletion and amortization     (57,200 )     (178,026 )     -       (235,226 )
Proved developed producing oil and gas properties, net   $ 1,765,373     $ 10,535,768     $ -     $ 12,301,141  
                                 
Undeveloped and non-producing oil and gas properties                                
Canada cost center   $ 371,481     $ 11,454     $ -     $ 382,935  
United States cost center     917,184       25,934,060       -       26,851,244  
Accumulated depreciation, depletion and amortization     (51,176 )     (323,369 )     -       (374,545 )
Undeveloped and non-producing oil and gas properties, net   $ 1,237,489     $ 25,622,145     $ -     $ 26,859,634  
                                 
Total Oil and Gas Properties, Net   $ 3,002,862     $ 36,157,913     $ -     $ 39,160,775