| Note 4. 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, 2021:
|
|
December 31,
2020
|
|
|
Adjustments |
|
|
Impairments |
|
|
June 30,
2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proved developed producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
United States cost center |
|
$ |
81,352,074 |
|
|
$ |
43,550 |
|
|
$ |
- |
|
|
$ |
81,395,624 |
|
Accumulated depreciation, depletion and amortization |
|
|
(16,648,321 |
) |
|
|
(2,959,684 |
) |
|
|
- |
|
|
|
(19,608,005 |
) |
Proved developed producing oil and gas properties, net |
|
$ |
64,703,753 |
|
|
$ |
(2,916,134 |
) |
|
$ |
- |
|
|
$ |
61,787,619 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Undeveloped and non-producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States cost center |
|
$ |
47,209,269 |
|
|
$ |
81,002 |
|
|
$ |
- |
|
|
$ |
47,290,271 |
|
Accumulated depreciation, depletion and amortization |
|
|
(9,756,586 |
) |
|
|
(1,665,017 |
) |
|
|
- |
|
|
|
(11,421,603 |
) |
Undeveloped and non-producing oil and gas properties, net |
|
$ |
37,452,683 |
|
|
$ |
(1,584,015 |
) |
|
$ |
- |
|
|
$ |
35,868,668 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Oil and Gas Properties, Net |
|
$ |
102,156,436 |
|
|
$ |
(4,500,149 |
) |
|
$ |
- |
|
|
$ |
97,656,287 |
|
|