| Oil and Gas Properties |
Note 6. Oil and Gas Properties
The following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the nine months ended September 30, 2022:
|
|
December 31, |
|
|
|
|
|
|
|
|
September 30, |
|
|
|
2021 |
|
|
Adjustments |
|
|
Impairments |
|
|
2022 |
|
Proved developed producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
United States cost center |
|
$ |
17,416,106 |
|
|
$ |
(15,521,128 |
) |
|
$ |
- |
|
|
$ |
1,894,978 |
|
Accumulated depreciation, depletion and amortization |
|
|
(10,806,908 |
) |
|
|
9,637,537 |
|
|
|
- |
|
|
|
(1,169,371 |
) |
Proved developed producing oil and gas properties, net |
|
$ |
6,609,198 |
|
|
$ |
(5,883,591 |
) |
|
$ |
- |
|
|
$ |
725,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Undeveloped and non-producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States cost center |
|
|
22,082,329 |
|
|
|
(20,380,112 |
) |
|
|
- |
|
|
|
1,702,217 |
|
Accumulated depreciation, depletion and amortization |
|
|
(13,865,956 |
) |
|
|
12,716,377 |
|
|
|
- |
|
|
|
(1,149,579 |
) |
Undeveloped and non-producing oil and gas properties, net |
|
$ |
8,216,373 |
|
|
$ |
(7,663,735 |
) |
|
$ |
- |
|
|
$ |
552,638 |
|
Total Oil and Gas Properties, Net |
|
$ |
14,825,571 |
|
|
$ |
(13,547,326 |
) |
|
$ |
- |
|
|
$ |
1,278,245 |
|
The adjustments consist of the impact of the sale of Petrodome’s assets as described in Note 2 plus depletion expense for the nine months ended September 30, 2022.
|