| Cover - shares | 9 Months Ended | |
| Sep. 30, 2024 | Nov. 04, 2024 | |
| Cover [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Quarterly Report | true | |
| Document Transition Report | false | |
| Document Period End Date | Sep. 30, 2024 | |
| Document Fiscal Period Focus | Q3 | |
| Document Fiscal Year Focus | 2024 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity File Number | 000-51927 | |
| Entity Registrant Name | Ridgewood Energy Q Fund, LLC | |
| Entity Central Index Key | 0001338474 | |
| Entity Tax Identification Number | 84-1689138 | |
| Entity Incorporation, State or Country Code | DE | |
| Entity Address, Address Line One | 1254 Enclave Parkway | |
| Entity Address, City or Town | Houston | |
| Entity Address, State or Province | TX | |
| Entity Address, Postal Zip Code | 77077 | |
| City Area Code | (800) | |
| Local Phone Number | 942-5550 | |
| Entity Current Reporting Status | Yes | |
| Entity Interactive Data Current | Yes | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Small Business | true | |
| Entity Emerging Growth Company | false | |
| Entity Shell Company | false | |
| Entity Common Stock, Shares Outstanding | 830.5577 |
| UNAUDITED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2024 | Dec. 31, 2023 |
| Current assets: | ||
| Cash and cash equivalents | $ 1,619 | $ 1,497 |
| Production receivable | 163 | 300 |
| Due from affiliate (Note 2) | 19 | 10 |
| Other current assets | 62 | 34 |
| Total current assets | 1,863 | 1,841 |
| Salvage fund | 1,614 | 1,424 |
| Oil and gas properties: | ||
| Proved properties | 24,552 | 24,553 |
| Less: accumulated depletion and amortization | (22,410) | (21,529) |
| Total oil and gas properties, net | 2,142 | 3,024 |
| Total assets | 5,619 | 6,289 |
| Current liabilities: | ||
| Due to operators | 34 | 59 |
| Accrued expenses | 63 | 47 |
| Total current liabilities | 97 | 106 |
| Asset retirement obligations | 890 | 834 |
| Total liabilities | 987 | 940 |
| Manager: | ||
| Distributions | (9,476) | (9,207) |
| Retained earnings | 9,037 | 8,757 |
| Manager's total | (439) | (450) |
| Shareholders: | ||
| Capital contributions (1,335 shares authorized; 830.5577 issued and outstanding) | 123,037 | 123,037 |
| Syndication costs | (14,070) | (14,070) |
| Distributions | (53,689) | (52,168) |
| Accumulated deficit | (50,207) | (51,000) |
| Shareholders' total | 5,071 | 5,799 |
| Total members' capital | 4,632 | 5,349 |
| Total liabilities and members' capital | $ 5,619 | $ 6,289 |
| UNAUDITED CONDENSED BALANCE SHEETS (Parenthetical) - shares | Sep. 30, 2024 | Dec. 31, 2023 |
| Statement of Financial Position [Abstract] | ||
| Shares authorized | 1,335 | 1,335 |
| Shares issued | 830.5577 | 830.5577 |
| Shares outstanding | 830.5577 | 830.5577 |
| UNAUDITED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ / shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
| Revenue | ||||
| Oil and gas revenue | $ 674 | $ 1,079 | $ 2,243 | $ 3,294 |
| Other revenue | 72 | 45 | 158 | 215 |
| Total revenue | 746 | 1,124 | 2,401 | 3,509 |
| Expenses | ||||
| Depletion and amortization | 277 | 552 | 881 | 1,819 |
| Operating expenses | 120 | 140 | 351 | 450 |
| General and administrative expenses | 61 | 61 | 184 | 186 |
| Total expenses | 458 | 753 | 1,416 | 2,455 |
| Income from operations | 288 | 371 | 985 | 1,054 |
| Interest income | 31 | 20 | 88 | 44 |
| Net income | 319 | 391 | 1,073 | 1,098 |
| Manager Interest | ||||
| Net income | 85 | 135 | 280 | 419 |
| Shareholder Interest | ||||
| Net income | $ 234 | $ 256 | $ 793 | $ 679 |
| Net income per share | $ 282 | $ 308 | $ 955 | $ 818 |
| UNAUDITED CONDENSED STATEMENTS OF CHANGES IN PARTNERS CAPITAL - USD ($) $ in Thousands | Shares Of Llc Interest [Member] | Fund Manager [Member] | Fund Shareholders [Member] | Total |
| Beginning balance, value at Dec. 31, 2022 | $ (449) | $ 7,851 | $ 7,402 | |
| Beginning balances, shares at Dec. 31, 2022 | 830.5577 | |||
| Distributions | (167) | (944) | (1,111) | |
| Net income | 146 | 206 | 352 | |
| Ending balance, value at Mar. 31, 2023 | (470) | 7,113 | 6,643 | |
| Ending balances, shares at Mar. 31, 2023 | 830.5577 | |||
| Beginning balance, value at Dec. 31, 2022 | (449) | 7,851 | 7,402 | |
| Beginning balances, shares at Dec. 31, 2022 | 830.5577 | |||
| Distributions | (419) | |||
| Net income | 1,098 | |||
| Ending balance, value at Sep. 30, 2023 | (449) | 6,159 | 5,710 | |
| Ending balances, shares at Sep. 30, 2023 | 830.5577 | |||
| Beginning balance, value at Mar. 31, 2023 | (470) | 7,113 | 6,643 | |
| Beginning balances, shares at Mar. 31, 2023 | 830.5577 | |||
| Distributions | (126) | (712) | (838) | |
| Net income | 138 | 217 | 355 | |
| Ending balance, value at Jun. 30, 2023 | (458) | 6,618 | 6,160 | |
| Ending balances, shares at Jun. 30, 2023 | 830.5577 | |||
| Distributions | (126) | (715) | (841) | |
| Net income | 135 | 256 | 391 | |
| Ending balance, value at Sep. 30, 2023 | (449) | 6,159 | 5,710 | |
| Ending balances, shares at Sep. 30, 2023 | 830.5577 | |||
| Beginning balance, value at Dec. 31, 2023 | (450) | 5,799 | $ 5,349 | |
| Beginning balances, shares at Dec. 31, 2023 | 830.5577 | 830.5577 | ||
| Distributions | (83) | (468) | $ (551) | |
| Net income | 85 | 229 | 314 | |
| Ending balance, value at Mar. 31, 2024 | (448) | 5,560 | 5,112 | |
| Ending balances, shares at Mar. 31, 2024 | 830.5577 | |||
| Beginning balance, value at Dec. 31, 2023 | (450) | 5,799 | $ 5,349 | |
| Beginning balances, shares at Dec. 31, 2023 | 830.5577 | 830.5577 | ||
| Distributions | (269) | |||
| Net income | $ 1,073 | |||
| Ending balance, value at Sep. 30, 2024 | (439) | 5,071 | $ 4,632 | |
| Ending balances, shares at Sep. 30, 2024 | 830.5577 | 830.5577 | ||
| Beginning balance, value at Mar. 31, 2024 | (448) | 5,560 | $ 5,112 | |
| Beginning balances, shares at Mar. 31, 2024 | 830.5577 | |||
| Distributions | (80) | (455) | (535) | |
| Net income | 110 | 330 | 440 | |
| Ending balance, value at Jun. 30, 2024 | (418) | 5,435 | 5,017 | |
| Ending balances, shares at Jun. 30, 2024 | 830.5577 | |||
| Distributions | (106) | (598) | (704) | |
| Net income | 85 | 234 | 319 | |
| Ending balance, value at Sep. 30, 2024 | $ (439) | $ 5,071 | $ 4,632 | |
| Ending balances, shares at Sep. 30, 2024 | 830.5577 | 830.5577 |
| UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
| Sep. 30, 2024 | Sep. 30, 2023 | |
| Cash flows from operating activities | ||
| Net income | $ 1,073 | $ 1,098 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depletion and amortization | 881 | 1,819 |
| Accretion expense | 56 | 43 |
| Changes in assets and liabilities: | ||
| Decrease in production receivable | 137 | 134 |
| (Increase) decrease in due from affiliate | (9) | 3 |
| Increase in other current assets | (28) | (4) |
| (Decrease) increase in due to operators | (25) | 44 |
| Increase (decrease) in accrued expenses | 16 | (75) |
| Credit from asset retirement obligations | 3 | |
| Net cash provided by operating activities | 2,101 | 3,065 |
| Cash flows from investing activities | ||
| Credits (capital expenditures) for oil and gas properties | 1 | (22) |
| Increase in salvage fund | (190) | (182) |
| Net cash used in investing activities | (189) | (204) |
| Cash flows from financing activities | ||
| Distributions | (1,790) | (2,790) |
| Net cash used in financing activities | (1,790) | (2,790) |
| Net increase in cash and cash equivalents | 122 | 71 |
| Cash and cash equivalents, beginning of period | 1,497 | 1,400 |
| Cash and cash equivalents, end of period | $ 1,619 | $ 1,471 |
| Organization and Summary of Significant Accounting Policies | 9 Months Ended |
| Sep. 30, 2024 | |
| Accounting Policies [Abstract] | |
| Organization and Summary of Significant Accounting Policies | 1. Organization and Summary of Significant Accounting Policies Organization The Ridgewood Energy Q Fund, LLC (the “Fund”), a Delaware limited liability company, was formed on August 16, 2005 and operates pursuant to a limited liability company agreement (the “LLC Agreement”) dated as of September 6, 2005 by and among Ridgewood Energy Corporation (the “Manager”) and the shareholders of the Fund, which addresses matters such as the authority and voting rights of the Manager and shareholders, capitalization, transferability of membership interests, participation in costs and revenues, distribution of assets and dissolution and winding up. The Fund was organized to primarily acquire interests in oil and gas properties located in the United States offshore waters of Texas, Louisiana and Alabama in the Gulf of Mexico. The Manager has direct and exclusive control over the management of the Fund’s operations. The Manager performs, or arranges for the performance of, the management, advisory and administrative services required for the Fund’s operations. Such services include, without limitation, the administration of shareholder accounts, shareholder relations, the preparation, review and dissemination of tax and other financial information and the management of the Fund’s investments in projects. In addition, the Manager provides office space, equipment and facilities and other services necessary for the Fund’s operations. The Manager also engages and manages contractual relations with unaffiliated custodians, depositories, accountants, attorneys, corporate fiduciaries, insurers, banks and others as required. See Notes 2 and 3. Basis of Presentation These unaudited interim condensed financial statements have been prepared by the Fund’s management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in the opinion of management, contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Fund’s financial position, results of operations, changes in members’ capital and cash flows for the periods presented. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted in these unaudited interim condensed financial statements. The financial position, results of operations, changes in members’ capital and cash flows for the periods presented herein are not necessarily indicative of future financial results. These unaudited interim condensed financial statements should be read in conjunction with the Fund’s December 31, 2023 financial statements and notes thereto included in the Fund’s Annual Report on Form 10-K (“2023 Annual Report”) filed with the Securities and Exchange Commission (“SEC”). The year-end condensed balance sheet data was derived from audited financial statements for the year ended December 31, 2023, but does not include all annual disclosures required by GAAP. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. On an ongoing basis, management reviews its estimates, including those related to the fair value of financial instruments, depletion and amortization, determination of proved reserves, impairment of long-lived assets and asset retirement obligations. Actual results may differ from those estimates. Summary of Significant Accounting Policies The Fund has provided discussion of significant accounting policies in Note 1 of “Notes to Financial Statements” – “Organization and Summary of Significant Accounting Policies” contained in Item 8. “Financial Statements and Supplementary Data” within its 2023 Annual Report. There have been no significant changes to the Fund’s significant accounting policies during the three and nine months ended September 30, 2024. Fair Value Measurements The Fund follows the accounting guidance for fair value measurement for measuring fair value of assets and liabilities in its financial statements. The Fund’s financial assets and liabilities consist of cash and cash equivalents, production receivable, due from affiliate, other current assets, salvage fund, due to operators and accrued expenses. The carrying amounts of these financial assets and liabilities approximate fair value due to their short-term nature. The Fund also applies the provisions of the fair value measurement accounting guidance to its non-financial assets and liabilities, such as oil and gas properties and asset retirement obligations, on a non-recurring basis. Asset Retirement Obligations For oil and gas properties, there are obligations to perform removal and remediation activities when the properties are retired. Upon the determination that a property is either proved or dry, a retirement obligation is incurred. The Fund recognizes the fair value of a liability for an asset retirement obligation in the period incurred based on expected future cash outflows required to satisfy the obligation discounted at the Fund’s credit-adjusted risk-free rate. Plug and abandonment costs associated with unsuccessful projects are expensed as dry-hole costs. Annually, or more frequently if an event occurs that would dictate a change in assumptions or estimates underlying the obligations, the Fund reassesses its asset retirement obligations to determine whether any revisions to the obligations are necessary. The Fund maintains a salvage fund to provide for the funding of future asset retirement obligations. Revenue Recognition Oil and gas revenues from contracts with customers are recognized at the point when control of oil and natural gas is transferred to the customers in accordance with Accounting Standard Codification Topic 606, Revenue from Contracts with Customers Other revenue is generated from the Fund’s production handling, gathering and operating services agreement with affiliated entities and other third parties. The Fund earns a fee for its services and recognizes these fees as revenue at the time its performance obligations are satisfied as the control of oil and natural gas is never transferred to the Fund, thus there are no unsatisfied performance obligations. The Fund’s project operator performs joint interest billing once the performance obligations have been satisfied, at which point the payment is unconditional. Accordingly, the Fund’s production handling, gathering and operating services agreement with affiliated entities and other third parties does not give rise to contract assets or liabilities. The receivables related to the Fund’s proportionate share of revenue from affiliates are included within “Due from affiliate” on the Fund’s balance sheets. The receivables related to the Fund’s proportionate share of revenue from third parties are presented as a reduction from “Due to operator” on the Fund’s balance sheets. The receivables are settled by issuance of a non-cash credit from the Beta Project operator to the Fund when the operator performs the joint interest billing of the lease operating expenses due from the Fund. However, if applying the joint interest billing credit results in a net credit balance due to the Fund, the Beta Project operator remits such balance in cash to the Fund. The Fund also has an estimation process for revenue and related accruals, and any identified difference between its revenue estimates and actual revenue historically have not been significant. During each of the three and nine months ended September 30, 2024 and 2023, revenue recognized from performance obligations satisfied in previous periods was not significant. Allowance for Credit Losses The Fund is exposed to credit losses through the sale of oil and natural gas to customers. However, the Fund only sells to a small number of major oil and gas companies that have investment-grade credit ratings. Based on historical collection experience, current and future economic and market conditions and a review of the current status of customers' production receivables, the Fund has not recorded an expected loss allowance as there are no past due receivable balances or projected credit losses. Impairment of Long-Lived Assets The Fund reviews the carrying value of its oil and gas properties for impairment whenever events and circumstances indicate that the recorded carrying value of its oil and gas properties may not be recoverable. Recoverability is evaluated by comparing estimated future net undiscounted cash flows to the carrying value of the oil and gas properties at the time of the review. If the carrying value exceeds the estimated future net undiscounted cash flows, the carrying value of the oil and gas properties is impaired, and written down to fair value. Fair value is determined using valuation techniques that include both market and income approaches and use Level 3 inputs. The fair value determinations require considerable judgment and are sensitive to change. Different pricing assumptions, estimates of oil and gas reserves and future development costs or discount rates could result in a significant impact on the amount of impairment. There were no impairments of oil and gas properties during each of the three and nine months ended September 30, 2024 and 2023. Fluctuations in oil and natural gas commodity prices may impact the fair value of the Fund’s oil and gas properties. In addition, significant declines in oil and natural gas commodity prices could reduce the quantities of reserves that are commercially recoverable, which could result in impairment. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board issued accounting guidance on the required disclosures for segment reporting. The accounting guidance is intended to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within segment profit and loss. The accounting guidance is effective for the Fund for the fiscal year ending December 31, 2024 and for interim periods within the fiscal year ending December 31, 2025 on a retrospective basis. The Fund is currently evaluating the effect of this accounting guidance on the Fund’s disclosures. |
| Related Parties | 9 Months Ended |
| Sep. 30, 2024 | |
| Related Party Transactions [Abstract] | |
| Related Parties | 2. Related Parties Pursuant to the terms of the LLC Agreement, the Manager is entitled to receive an annual management fee, payable monthly, of 2.5% 20 . Management reimbursement costs during each of the three and nine months ended September 30, 2024 and 2023 were $ 20 60 The Manager is also entitled to receive 15% 0.1 0.3 0.1 0.4 The Fund utilizes Beta Sales and Transport, LLC, a wholly-owned subsidiary of the Manager, to facilitate the transportation and sale of oil and natural gas produced from the Beta Project. The Fund is a party to a production handling, gathering and operating services agreement (“PHA”) with affiliated entities and other third-party working interest owners in the Claiborne Project. Under the terms of the PHA, the Claiborne Project producers have agreed to pay the Beta Project owners a fixed production handling fee for each barrel of oil and mcf of natural gas processed through the Beta Project production facility. During the three and nine months ended September 30, 2024, the Fund earned $ 31 67 19 0.1 19 10 At times, short-term payables and receivables, which do not bear interest, arise from transactions with affiliates in the ordinary course of business. The Fund has working interest ownership in certain oil and natural gas projects, which are also owned by other entities that are likewise managed by the Manager. |
| Commitments and Contingencies | 9 Months Ended |
| Sep. 30, 2024 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 3. Commitments and Contingencies Capital Commitments As of September 30, 2024, the Fund’s estimated capital commitments related to its oil and gas properties were $ 3.1 1.6 none Based upon its current cash position, salvage fund and its current reserves estimates, the Fund expects cash flow from operations to be sufficient to cover its commitments and ongoing operations. Reserves estimates are projections based on engineering data that cannot be measured with precision, require substantial judgment, and are subject to frequent revision. Impact from Market Conditions Although the oil market demonstrated stability during the first half of 2024, oil prices started declining during August 2024 and September 2024. Management believes the major headwind for the crude market remains China’s weakening economy, as well as the potential for a broader global recession, which could include an economic slowdown in the U.S. In addition, OPEC Plus is scheduled to start gradually easing its output curbs in December 2024. The physical crude market, however, continues to be tight and is expected to remain so for the remainder of the year. In addition, ongoing geopolitical conditions, including the military conflicts between Russia-Ukraine and Israel-Iran (and proxies) and the global response to such conflicts, and acts of terrorism, will continue to influence oil and natural gas commodity prices. The impact of these issues on global financial and commodity markets and their corresponding effect on the Fund remains uncertain. Environmental and Governmental Regulations Many aspects of the oil and gas industry are subject to federal, state and local environmental laws and regulations. The Manager and operators of the Fund’s properties are continually taking action they believe appropriate to satisfy applicable federal, state and local environmental regulations. However, due to the significant public and governmental interest in environmental matters related to those activities, the Manager cannot predict the effects of possible future legislation, rule changes, or governmental or private claims. As of September 30, 2024 and December 31, 2023, there were no known environmental contingencies that required adjustment to, or disclosure in, the Fund’s financial statements aside from the following: On August 19, 2024, the U.S. District Court for the District of Maryland issued a decision in Sierra Club, et al. (Plaintiffs) v. National Marine Fisheries Service (“NMFS”), et al. (Defendants), and American Petroleum Institute, et al. (Intervenors) . Oil and gas industry legislation and administrative regulations are periodically changed for a variety of political, economic, and other reasons. Any such future laws and regulations could result in increased compliance costs or additional operating restrictions, which could have a material adverse effect on the Fund’s operating results and cash flows. It is not possible at this time to predict whether such legislation or regulation, if proposed, will be adopted as initially written, if at all, or how legislation or new regulation that may be adopted would impact the Fund’s business. BSEE and BOEM Supplemental Financial Assurance Requirements On October 16, 2020, the Bureau of Ocean Energy Management (“BOEM”) and the Bureau of Safety and Environmental Enforcement (“BSEE”) published a proposed new rule entitled “Risk Management, Financial Assurance and Loss Prevention” to update BOEM’s financial assurance criteria and other BSEE-administered regulations. Upon review of the 2020 joint proposed rule and analysis of public comments, the Secretary of the U.S. Department of the Interior (“Interior”) elected to separate the BOEM and BSEE portions of the supplemental bonding requirements. BSEE finalized some provisions from the 2020 proposal as discussed below. BOEM rescinded its portion of the 2020 proposed rule and issued its new rule below. On April 18, 2023, BSEE published a final rule at 88 FR 23569 on Risk Management, Financial Assurance and Loss Prevention effective May 18, 2023 to clarify and formalize its regulations related to decommissioning responsibilities of OCS oil, gas, and sulfur lessees and grant holders to ensure compliance with lease, grant, and regulatory obligations. The rule implements provisions of the proposed rule intended to clarify decommissioning responsibilities of right-of-use and easement grant holders and to formalize BSEE's policies regarding performance by predecessors ordered to decommission OCS facilities. The final rule withdraws the proposal set forth in the 2020 proposed rule to amend BSEE's regulations to require BSEE to proceed in reverse chronological order against predecessor lessees, owners of operating rights, and grant holders when requiring such entities to perform their accrued decommissioning obligations if the current lessees, owners, or holders have failed to perform. In addition, BSEE also decided not to finalize the proposed appeal bonding requirements in this final rule. On April 24, 2024, BOEM published a final rule at 89 FR 31544 on Risk Management and Financial Assurance for OCS Lease and Grant Obligations, effective June 29, 2024. This rule substantially revises the supplemental financial assurance requirements for decommissioning offshore wells and infrastructure once they are no longer in use. The rule establishes a simplified test using only two criteria by which BOEM would determine whether supplemental financial assurance should be required of OCS oil and gas lessees: (1) credit rating, and (2) the ratio of the value of proved oil and gas reserves of the lease to the estimated decommissioning liability associated with the reserves. If a current lessee meets one of these criteria, it will not be required to provide supplemental financial assurance. In addition, as it relates to supplemental financial assurance requirements for OCS oil and gas right-of-use and easement grant holders, BOEM will only consider the first criteria – i.e., credit rating. Under the rule, BOEM would no longer consider or rely upon the financial strength of prior grant holders and lessees in determining whether, or how much, supplemental financial assurance should be provided by the current grant holders and lessees. The rule would allow existing lessees and grant holders to request phased-in payments over three years to meet the new financial assurance amounts. On June 28, 2024, BOEM issued a timeline on its website for implementing the rule. BOEM indicates that it will begin sending out notices to companies to submit financial and property information, to which such companies have six months to respond. BOEM can take up to 18 months from receipt of such information to complete its review and an additional six months thereafter to complete financial assurance demands. Moreover, on June 17, 2024, the States of Louisiana, Texas and Mississippi, along with several industry advocate groups, filed a lawsuit in federal court in Louisiana challenging many parts of the rule and BOEM’s statutory power to issue it. That litigation is ongoing. The Fund is still evaluating the impact of the new rule on its operations and financial condition and the impact is currently uncertain. The Fund will continue to maintain the salvage fund, a separate interest-bearing account, to fund its proportionate share of the estimated future costs of decommissioning liabilities for the Beta Project. The Fund will continue to reassess its estimated decommissioning liabilities and reserve for additional funding as necessary. Insurance Coverage The Fund is subject to all risks inherent in the oil and natural gas business. Insurance coverage as is customary for entities engaged in similar operations is maintained, but losses may occur from uninsurable risks or amounts in excess of existing insurance coverage. The occurrence of an event that is not insured or not fully insured could have a material adverse impact upon earnings and financial position. Moreover, insurance is obtained as a package covering all of the entities managed by the Manager. Depending on the extent, nature and payment of claims made by the Fund or other entities managed by the Manager, yearly insurance coverage may be exhausted and become insufficient to cover a claim by the Fund in a given year. |
| Organization and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
| Sep. 30, 2024 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | Basis of Presentation These unaudited interim condensed financial statements have been prepared by the Fund’s management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in the opinion of management, contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Fund’s financial position, results of operations, changes in members’ capital and cash flows for the periods presented. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted in these unaudited interim condensed financial statements. The financial position, results of operations, changes in members’ capital and cash flows for the periods presented herein are not necessarily indicative of future financial results. These unaudited interim condensed financial statements should be read in conjunction with the Fund’s December 31, 2023 financial statements and notes thereto included in the Fund’s Annual Report on Form 10-K (“2023 Annual Report”) filed with the Securities and Exchange Commission (“SEC”). The year-end condensed balance sheet data was derived from audited financial statements for the year ended December 31, 2023, but does not include all annual disclosures required by GAAP. |
| Use of Estimates | Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. On an ongoing basis, management reviews its estimates, including those related to the fair value of financial instruments, depletion and amortization, determination of proved reserves, impairment of long-lived assets and asset retirement obligations. Actual results may differ from those estimates. |
| Fair Value Measurements | Fair Value Measurements The Fund follows the accounting guidance for fair value measurement for measuring fair value of assets and liabilities in its financial statements. The Fund’s financial assets and liabilities consist of cash and cash equivalents, production receivable, due from affiliate, other current assets, salvage fund, due to operators and accrued expenses. The carrying amounts of these financial assets and liabilities approximate fair value due to their short-term nature. The Fund also applies the provisions of the fair value measurement accounting guidance to its non-financial assets and liabilities, such as oil and gas properties and asset retirement obligations, on a non-recurring basis. |
| Asset Retirement Obligations | Asset Retirement Obligations For oil and gas properties, there are obligations to perform removal and remediation activities when the properties are retired. Upon the determination that a property is either proved or dry, a retirement obligation is incurred. The Fund recognizes the fair value of a liability for an asset retirement obligation in the period incurred based on expected future cash outflows required to satisfy the obligation discounted at the Fund’s credit-adjusted risk-free rate. Plug and abandonment costs associated with unsuccessful projects are expensed as dry-hole costs. Annually, or more frequently if an event occurs that would dictate a change in assumptions or estimates underlying the obligations, the Fund reassesses its asset retirement obligations to determine whether any revisions to the obligations are necessary. The Fund maintains a salvage fund to provide for the funding of future asset retirement obligations. |
| Revenue Recognition | Revenue Recognition Oil and gas revenues from contracts with customers are recognized at the point when control of oil and natural gas is transferred to the customers in accordance with Accounting Standard Codification Topic 606, Revenue from Contracts with Customers Other revenue is generated from the Fund’s production handling, gathering and operating services agreement with affiliated entities and other third parties. The Fund earns a fee for its services and recognizes these fees as revenue at the time its performance obligations are satisfied as the control of oil and natural gas is never transferred to the Fund, thus there are no unsatisfied performance obligations. The Fund’s project operator performs joint interest billing once the performance obligations have been satisfied, at which point the payment is unconditional. Accordingly, the Fund’s production handling, gathering and operating services agreement with affiliated entities and other third parties does not give rise to contract assets or liabilities. The receivables related to the Fund’s proportionate share of revenue from affiliates are included within “Due from affiliate” on the Fund’s balance sheets. The receivables related to the Fund’s proportionate share of revenue from third parties are presented as a reduction from “Due to operator” on the Fund’s balance sheets. The receivables are settled by issuance of a non-cash credit from the Beta Project operator to the Fund when the operator performs the joint interest billing of the lease operating expenses due from the Fund. However, if applying the joint interest billing credit results in a net credit balance due to the Fund, the Beta Project operator remits such balance in cash to the Fund. The Fund also has an estimation process for revenue and related accruals, and any identified difference between its revenue estimates and actual revenue historically have not been significant. During each of the three and nine months ended September 30, 2024 and 2023, revenue recognized from performance obligations satisfied in previous periods was not significant. |
| Allowance for Credit Losses | Allowance for Credit Losses The Fund is exposed to credit losses through the sale of oil and natural gas to customers. However, the Fund only sells to a small number of major oil and gas companies that have investment-grade credit ratings. Based on historical collection experience, current and future economic and market conditions and a review of the current status of customers' production receivables, the Fund has not recorded an expected loss allowance as there are no past due receivable balances or projected credit losses. |
| Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Fund reviews the carrying value of its oil and gas properties for impairment whenever events and circumstances indicate that the recorded carrying value of its oil and gas properties may not be recoverable. Recoverability is evaluated by comparing estimated future net undiscounted cash flows to the carrying value of the oil and gas properties at the time of the review. If the carrying value exceeds the estimated future net undiscounted cash flows, the carrying value of the oil and gas properties is impaired, and written down to fair value. Fair value is determined using valuation techniques that include both market and income approaches and use Level 3 inputs. The fair value determinations require considerable judgment and are sensitive to change. Different pricing assumptions, estimates of oil and gas reserves and future development costs or discount rates could result in a significant impact on the amount of impairment. There were no impairments of oil and gas properties during each of the three and nine months ended September 30, 2024 and 2023. Fluctuations in oil and natural gas commodity prices may impact the fair value of the Fund’s oil and gas properties. In addition, significant declines in oil and natural gas commodity prices could reduce the quantities of reserves that are commercially recoverable, which could result in impairment. |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board issued accounting guidance on the required disclosures for segment reporting. The accounting guidance is intended to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within segment profit and loss. The accounting guidance is effective for the Fund for the fiscal year ending December 31, 2024 and for interim periods within the fiscal year ending December 31, 2025 on a retrospective basis. The Fund is currently evaluating the effect of this accounting guidance on the Fund’s disclosures. |
| Related Parties (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
| Sep. 30, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | Dec. 31, 2023 | |
| Related Party Transaction [Line Items] | |||||||||
| Annual management fee percentage rate | 2.50% | 2.50% | |||||||
| Cost of services provided by manager, quarterly amount | $ 20 | $ 20 | |||||||
| Cost of services provided by Manager | $ 20 | $ 20 | $ 60 | $ 60 | |||||
| Percentage of total distributions allocated to fund manager | 15% | 15% | |||||||
| Partners' capital account, distributions | $ 704 | $ 535 | $ 551 | 841 | $ 838 | $ 1,111 | |||
| Due from affiliate | 19 | $ 19 | $ 10 | ||||||
| Institutional Funds [Member] | |||||||||
| Related Party Transaction [Line Items] | |||||||||
| Other revenue from affiliates | 31 | 19 | 67 | 100 | |||||
| Due from affiliate | 19 | 19 | $ 10 | ||||||
| Fund Manager [Member] | |||||||||
| Related Party Transaction [Line Items] | |||||||||
| Partners' capital account, distributions | $ 106 | $ 80 | $ 83 | $ 126 | $ 126 | $ 167 | $ 269 | $ 419 | |
| Commitments and Contingencies (Details Narrative) $ in Millions | 9 Months Ended |
| Sep. 30, 2024 USD ($) | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments for the drilling and development of investment properties | $ 3.1 |
| Commitments for asset retirement obligations included in estimated capital commitments | 1.6 |
| Commitments for the drilling and development of investment properties expected to be incurred in the next 12 months | $ 0 |
