Summary of Significant Accounting Policies (Details 4) - USD ($) |
3 Months Ended | 12 Months Ended |
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Mar. 31, 2017 |
Dec. 31, 2016 |
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Summary Of Significant Accounting Policies Details 4 | ||
Asset retirement obligation – beginning | $ 833,017 | $ 416,246 |
Oil and gas purchases | 393,808 | |
Accretion expense | 8,837 | 22,963 |
Asset retirement obligation - ending | $ 841,854 | $ 833,017 |
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- References No definition available.
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- Definition Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cost of oil and gas purchased during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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