PROPERTY AND EQUIPMENT (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of property and equipment |
The major categories of property and equipment and related accumulated depletion, depreciation, amortization and impairment as of June 30, 2019 and December 31, 2018 are as follows:
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| Summary of non-producing properties excluded from amortization by area |
The following table summarizes the Company’s non-producing properties excluded from amortization by area at June 30, 2019:
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| Schedule of asset retirement obligation |
A reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2019 and 2018 is as follows:
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- References No definition available.
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of the carrying amount of a liability for asset retirement obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of the capitalized costs of unproved properties and major development projects that are excluded from capitalized costs being amortized. This includes the total costs excluded and, at a minimum, these categories of costs: acquisition costs, exploration costs, development costs in the case of significant development projects, and capitalized interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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