Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Properties

v3.19.2
Oil and Gas Properties
6 Months Ended
Jun. 30, 2019
Oil and gas properties, full cost method  
Note 4 - Oil and Gas Properties

The following table summarizes the Companys oil and gas activities by classification and geographical cost center for the six months ended June 30, 2019: 

 

 

December 31, 2018

 

Adjustments

 

Impairments

 

June 30, 2019

 

Proved developed producing oil and gas properties

 

United States cost center

 

$

81,936,721

 

$

(1,476,634

)

 

$

-

 

$

80,460,087

 

Accumulated depreciation, depletion and amortization

 

(604,735

)

 

(3,353,247

)

 

-

 

(3,957,982

)

Proved developed producing oil and gas properties, net

 

$

81,331,986

 

$

(4,829,881

)

 

$

-

 

$

76,502,105

 

Undeveloped and non-producing oil and gas properties

 

United States cost center

 

$

51,973,719

 

$

(87,140

)

 

$

-

 

$

51,886,579

 

Accumulated depreciation, depletion and amortization

 

(1,480,813

)

 

(1,215,154

)

 

-

 

(2,695,967

)

Undeveloped and non-producing oil and gas properties, net

 

$

50,492,906

 

$

(1,302,294

)

 

$

-

 

$

49,190,612

 

Total Oil and Gas Properties, Net

 

$

131,824,892

 

$

(6,132,175

)

 

$

-

 

$

125,692,717