Quarterly report pursuant to Section 13 or 15(d)

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2021	Nov. 05, 2021
Cover [Abstract]
Entity Registrant Name	VIKING ENERGY GROUP, INC.
Entity Central Index Key	0001102432
Document Type	10-Q/A
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Entity Common Stock Shares Outstanding		101,971,563
Document Quarterly Report	true
Entity Interactive Data Current	Yes
Document Transition Report	false
Entity File Number	000-29219
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-0199508
Entity Address Address Line 1	15915 Katy Freeway
Entity Address Address Line 2	Suite 450
Entity Address City Or Town	Houston
Entity Address State Or Province	TX
Entity Address Postal Zip Code	77094
City Area Code	281
Local Phone Number	404 4387
Amendment Description	This Amendment No. 1 to Quarterly Report on Form 10-Q/A (this “Amendment”) amends the quarterly report of Viking Energy Group, Inc. (the “Company”) for the quarterly period ended September 30, 2021, as filed with the United States Securities and Exchange Commission (the “SEC”) on November 15, 2021 (the “Original 10-Q”), to restate the financial statements for the three and nine months ended September 30, 2020. On August 31, 2020, the Company filed an amended Certificate of Designation (the “August Amendment”) regarding the rights associated with Viking’s shares of Series C Preferred Stock (the “Preferred Shares”) in connection with an Agreement and Plan of Merger (the “2020 Merger Agreement”) in effect at the time between the Company and Camber Energy, Inc. (“Camber”). The August Amendment modified the conversion and voting entitlements associated with the Preferred Shares in anticipation of a full combination between Viking and Camber. The modification of preferred stock rights that includes adding a substantive conversion option requires the modification to be treated as a redemption of the preferred shares and any difference between the fair value of the modified preferred shares and the carrying amount of the preferred shares be subtracted (or added) to net income to arrive at income available to common shareholders in accordance with FASB ASC 260-10-S99-2. Consequently, we have recognized a deemed dividend in determining net income or loss attributable to common shareholders as reported in the Statement of Operations and utilized in computing earnings or loss per common share for the three and nine months ended September 30, 2020. The deemed dividend has no impact on the Company’s (i) balance sheet, (ii) reported revenues and expenses, and (iii) statement of cash flows. The Company is amending the Original 10-Q to recognize the fair value of the deemed dividend in the amount of $14,546,677 for the three and nine months ended September 30, 2020; such deemed dividend had not been previously recognized. This restatement has no impact on financial position and results of operations for the three and nine months ended September 30, 2021. Except as described above and in note 4 to the accompanying consolidated financial statements and in “Item 4. Controls and Procedures,” no other information included in the Original 10-Q is being amended or updated by this Amendment, and this Amendment does not purport to reflect any information or events subsequent to the Original 10-Q. This Amendment continues to describe the conditions as of the date of the Original 10-Q, and, except as expressly described herein, the Company has not updated, modified or supplemented the disclosures contained in the Original 10-Q. Accordingly, this Amendment should be read in conjunction with the Original 10-Q, the 10-Q for the quarterly period ended September 30, 2020, and with the Company’s filings with the SEC subsequent to the Original 10-Q.