Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Properties

v3.20.2
Oil and Gas Properties
6 Months Ended
Jun. 30, 2020
Oil and Gas Properties  
Note 4. Oil and Gas Properties

The following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the six months ended June 30, 2020:

 

 

 

December 31,

2019

 

 

Adjustments

 

 

Impairments

 

 

June 30,

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proved developed producing oil and gas properties

 

 

 

 

 

 

 

 

 

 

 

 

United States cost center

 

$ 76,532,985

 

 

$ 22,826,768

 

 

$ -

 

 

$ 99,359,753

 

Accumulated depreciation, depletion and amortization

 

 

(7,608,544 )

 

 

(3,933,181 )

 

 

-

 

 

 

(11,541,725 )
Proved developed producing oil and gas properties, net

 

$ 68,924,441

 

 

$ 18,893,587

 

 

$ -

 

 

$ 87,818,028

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Undeveloped and non-producing oil and gas properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States cost center

 

$ 56,168,428

 

 

$ 9,362,913

 

 

$ -

 

 

$ 65,531,341

 

Accumulated depreciation, depletion and amortization

 

 

(5,350,753 )

 

 

(2,133,250 )

 

 

-

 

 

 

(7,484,003 )
Undeveloped and non-producing oil and gas properties, net

 

$ 50,817,675

 

 

$ 7,229,663

 

 

$ -

 

 

$ 58,047,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Oil and Gas Properties, Net

 

$ 119,742,116

 

 

$ 26,123,250

 

 

$ -

 

 

$ 145,865,366