SCHEDULE OF CAPITALIZED COSTS IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION AND DEVELOPMENT (Details) - USD ($) |
Dec. 31, 2020 |
Dec. 31, 2019 |
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Capitalized costs: | ||
Unevaluated properties | ||
Evaluated properties | 6,456,367 | 11,400,285 |
Gross capitalized costs | 6,456,367 | 11,400,284 |
Less: Accumulated DD&A | (2,693,300) | (1,520,527) |
Net capitalized costs | $ 3,763,067 | $ 9,879,758 |
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- Definition Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The sum of capitalized costs relating to oil and gas producing activities before accounting for accumulated depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Net amount of capitalized costs relating to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Capitalized costs of unproved properties incurred for any combination mineral interests acquisitions and other costs not previously disclosed within this table. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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