| Segment Reporting |
11. SEGMENT REPORTING
The Company has a single reportable operating segment,
Oil and Gas Exploration and Production, which includes exploration, development, and production of current and potential oil and gas properties.
Results of operations from producing activities were as follows:
| |
|
Three Months
Ended
September 30, 2020
|
|
|
Three Months
Ended
September 30, 2019
|
|
|
Nine Months
Ended
September 30, 2020
|
|
|
Nine Months
Ended
September 30, 2019
|
|
| Canada |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
|
953,524 |
|
|
|
802,131 |
|
|
|
1,935,861 |
|
|
|
2,356,003 |
|
| Production costs |
|
|
(1,077,420 |
) |
|
|
(864,553 |
) |
|
|
(2,273,505 |
) |
|
|
(2,357,872 |
) |
| Depreciation, depletion, amortization and accretion |
|
|
(422,800 |
) |
|
|
(267,769 |
) |
|
|
(1,030,549 |
) |
|
|
(699,504 |
) |
| Results of operations from producing activities |
|
|
(546,696 |
) |
|
|
(330,191 |
) |
|
|
(1,368,193 |
) |
|
|
(701,373 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total long-lived assets |
|
|
1,957,126 |
|
|
|
1,389,374 |
|
|
|
1,957,126 |
|
|
|
1,389,374 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
|
— |
|
|
|
32,190 |
|
|
|
8,005 |
|
|
|
97,662 |
|
| Production costs |
|
|
(48,501 |
) |
|
|
(86,526 |
) |
|
|
(189,674 |
) |
|
|
(241,957 |
) |
| Depreciation, depletion, amortization and accretion |
|
|
(15,020 |
) |
|
|
(12,047 |
) |
|
|
(45,193 |
) |
|
|
(28,140 |
) |
| Loss on TLSAU abandonment |
|
|
(3,225,928 |
) |
|
|
— |
|
|
|
(3,225,928 |
) |
|
|
— |
|
| Results of operations from producing activities |
|
|
(3,289,449 |
) |
|
|
(66,383 |
) |
|
|
(3,452,790 |
) |
|
|
(172,435 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total long-lived assets |
|
|
7,096,763 |
|
|
|
10,350,677 |
|
|
|
7,096,763 |
|
|
|
10,350,677 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
|
953,524 |
|
|
|
834,321 |
|
|
|
1,943,866 |
|
|
|
2,453,665 |
|
| Production costs |
|
|
(1,125,921 |
) |
|
|
(951,079 |
) |
|
|
(2,463,179 |
) |
|
|
(2,599,829 |
) |
| Depreciation, depletion, amortization and accretion |
|
|
(437,820 |
) |
|
|
(279,816 |
) |
|
|
(1,075,742 |
) |
|
|
(727,644 |
) |
| Loss on TLSAU abandonment |
|
|
(3,225,928 |
) |
|
|
— |
|
|
|
(3,225,928 |
) |
|
|
— |
|
| Results of operations from producing activities |
|
|
(3,836,145 |
) |
|
|
(396,574 |
) |
|
|
(4,820,983 |
) |
|
|
(873,808 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total long-lived assets |
|
|
9,053,889 |
|
|
|
11,740,051 |
|
|
|
9,053,889 |
|
|
|
11,740,051 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The Company’s revenues are derived from the following major customers: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer A |
|
|
— |
|
|
|
32,190 |
|
|
|
8,005 |
|
|
|
97,662 |
|
| Customer B |
|
|
953,524 |
|
|
|
802,131 |
|
|
|
1,935,861 |
|
|
|
2,356,003 |
|
| Total |
|
|
953,524 |
|
|
|
834,321 |
|
|
|
1,943,866 |
|
|
|
2,453,665 |
|
|