Supplemental Oil and Gas Reserve Information (Unaudited) (Details 5) |
Dec. 31, 2016
USD ($)
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|---|---|
| Standardized measure of discounted future net cash flows | |
| Future net production revenue | $ 74,093,600 |
| Future production costs | (17,313,400) |
| Future capex costs | (19,750,000) |
| Future net cash flows before tax | 37,030,200 |
| Future income taxes (assuming 34% corporate tax rate) | (12,590,268) |
| Future net cash flows after tax | 24,439,932 |
| 10% annual discount for estimating of future cash flows | (14,908,800) |
| Standardized measure of discounted net future cash flows | $ 9,531,132 |
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- Definition It represents as a future net cash flows relating to proved oil and gas reserves before federal income tax. No definition available.
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- References No definition available.
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- Definition Amount of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of estimated future accumulated cash outflow for costs to be incurred in developing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of estimated future accumulated cash outflow for income tax, based on the future income less future expense derived from production and sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after future accumulated cash outflow for development and production costs and future income tax, of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of estimated future accumulated cash outflow for costs to be incurred in producing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of discount on future accumulated cash inflow, after deducting future accumulated cash outflow for development and production costs and future income tax, from sale of proved oil and gas reserves, using a discount rate of ten percent a year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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