Everflow Eastern Partners 10-Q 13 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 10, 2020
Document Information [Line Items]
Entity Registrant Name	EVERFLOW EASTERN PARTNERS LP
Entity Central Index Key	0000868082
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		5,441,928
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and equivalents	$ 10,261,207	$ 11,757,057
Investments	20,307,895	20,107,580
Production accounts receivable	647,964	1,208,634
Other	15,650	8,150
Total current assets	31,232,716	33,081,421
PROPERTY AND EQUIPMENT
Proved properties (successful efforts accounting method)	146,502,667	174,633,910
Pipeline and support equipment	719,988	791,756
Corporate and other	2,090,250	2,090,250
Gross property and equipment	149,312,905	177,515,916
Less accumulated depreciation, depletion, amortization and write down	141,306,533	168,720,741
Net property and equipment	8,006,372	8,795,175
OTHER ASSETS	131,567	131,624
TOTAL ASSETS	39,370,655	42,008,220
CURRENT LIABILITIES
Accounts payable	2,776,174	2,136,590
Accrued expenses	1,343,740	1,425,492
Total current liabilities	4,119,914	3,562,082
DEFERRED INCOME TAXES	45,700	45,700
OPERATIONAL ADVANCES	2,501,717	2,463,685
ASSET RETIREMENT OBLIGATIONS	14,863,775	16,640,632
COMMITMENTS AND CONTINGENCIES
LIMITED PARTNERS' EQUITY, SUBJECT TO REPURCHASE RIGHT
Authorized - 8,000,000 Units Issued and outstanding - 5,441,928 and 5,492,967 Units, respectively	17,622,270	19,063,258
GENERAL PARTNER'S EQUITY	217,279	232,863
Total partners' equity	17,839,549	19,296,121
TOTAL LIABILITIES AND PARTNERS' EQUITY	$ 39,370,655	$ 42,008,220

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares	Jun. 30, 2020	Dec. 31, 2019
Limited partner's equity, units authorized (in shares)	8,000,000	8,000,000
Limited partner's equity, units issued (in shares)	5,441,928	5,492,967
Limited partner's equity, units outstanding (in shares)	5,441,928	5,492,967

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES
Total revenues	$ 563,968	$ 1,935,092	$ 1,949,349	$ 4,828,404
DIRECT COST OF REVENUES
Production costs	335,314	527,307	1,015,237	1,384,482
Well management and operating	48,575	86,955	133,138	174,854
Depreciation, depletion and amortization	149,476	112,268	334,248	226,812
Accretion expense	63,800	71,900	129,100	146,600
Total direct cost of revenues	597,165	798,430	1,611,723	1,932,748
GENERAL AND ADMINISTRATIVE EXPENSE	492,839	493,100	1,063,800	1,095,964
Total cost of revenues	1,090,004	1,291,530	2,675,523	3,028,712
INCOME (LOSS) FROM OPERATIONS	(526,036)	643,562	(726,174)	1,799,692
OTHER INCOME
Investment income	361,884	163,387	206,666	342,556
Gain (Loss) on disposal of property and equipment	(3,800)	(1,300)	496,846	37,300
Total other income	358,084	162,087	703,512	379,856
NET INCOME (LOSS)	(167,952)	805,649	(22,662)	2,179,548
Allocation of Partnership Net Income (Loss):
Limited Partners	(165,926)	796,025	(22,389)	2,153,510
General Partner	(2,026)	9,624	(273)	26,038
Net income (loss)	$ (167,952)	$ 805,649	$ (22,662)	$ 2,179,548
Net income (loss) per Unit (in dollars per share)	$ (0.03)	$ 0.15		$ 0.39
Oil and Gas [Member]
REVENUES
Total revenues	$ 482,121	$ 1,788,101	$ 1,725,127	$ 4,529,297
Oil and Gas Service [Member]
REVENUES
Total revenues	80,750	145,039	220,718	294,861
Product and Service, Other [Member]
REVENUES
Total revenues	$ 1,097	$ 1,952	$ 3,504	$ 4,246

Consolidated Statements of Part

Consolidated Statements of Partners' Equity (Unaudited)	USD ($)
PARTNERS' EQUITY - BEGINNING OF PERIOD at Dec. 31, 2018	$ 18,709,962
Net income (loss)	2,179,548
Cash distributions ($0.25 per unit in 2020 and $0.30 per unit in 2019, respectively)	(1,684,936)
Repurchase of Units	(129,582)
Options exercised	45,000
PARTNERS' EQUITY - END OF PERIOD at Jun. 30, 2019	19,119,992
PARTNERS' EQUITY - BEGINNING OF PERIOD at Dec. 31, 2019	19,296,121
Net income (loss)	(22,662)
Cash distributions ($0.25 per unit in 2020 and $0.30 per unit in 2019, respectively)	(1,390,016)
Repurchase of Units	(69,694)
Options exercised	25,800
PARTNERS' EQUITY - END OF PERIOD at Jun. 30, 2020	$ 17,839,549

Consolidated Statements of Pa_2

Consolidated Statements of Partners' Equity (Unaudited) (Parentheticals) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash distribution per unit (in dollars per share)	$ 0.25	$ 0.30

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (22,662)	$ 2,179,548
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	371,148	267,512
Accretion expense	129,100	146,600
Unrealized gain on investments	(20,657)	(85,776)
Gain on disposal of property and equipment	(496,846)	(37,300)
Changes in assets and liabilities:
Production accounts receivable	560,670	377,606
Other current assets	(7,500)	56,531
Other assets	57	(495)
Accounts payable	170,650	216,101
Accrued expenses	(489,378)	(453,674)
Operational advances	38,032	240,805
Total adjustments	255,276	727,910
Net cash provided by operating activities	232,614	2,907,458
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments	(179,658)	(229,679)
Purchase of property and equipment	(50,388)	(113,478)
Proceeds from disposal of property and equipment	7,800	33,700
Settlement of disposal of property and equipment	(468,934)
Net cash used in investing activities	(691,180)	(309,457)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loan	326,932
Distributions	(1,390,016)	(1,684,936)
Proceeds from options exercised	25,800	45,000
Net cash used in financing activities	(1,037,284)	(1,639,936)
NET CHANGE IN CASH AND EQUIVALENTS	(1,495,850)	958,065
CASH AND EQUIVALENTS - BEGINNING OF PERIOD	11,757,057	12,566,868
CASH AND EQUIVALENTS - END OF PERIOD	10,261,207	13,524,933
Supplemental disclosures of cash flow information:
Cash paid during the period for income taxes	$ 7,652	$ 11,135

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Note 1. Organization and Summary of Significant Accounting Policies A. Interim Financial Statements - The interim consolidated financial statements included herein have been prepared by the management of Everflow Eastern Partners, L.P., without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations have been made. The accompanying condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 8 03 X. not 10 not 10 March 26, 2020. The results of operations for the interim periods may not B. Use of Estimates - The preparation of financial statements in conformity 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates impacting the Company's financial statements include revenue and expense accruals and oil and gas reserve quantities. In the oil and gas industry, and especially as related to the Company's natural gas sales, the processing of actual transactions generally occurs 60 90 C. Organization - Everflow Eastern Partners, L.P. (“Everflow”) is a Delaware limited partnership which was organized in September 1990 Everflow Management Limited, LLC (“EML”), an Ohio limited liability company, is the general partner of Everflow and, as such, is authorized to perform all acts necessary or desirable to carry out the purposes and conduct of the business of Everflow. The members of EML include Everflow Management Corporation ("EMC"), two one September 1990 D. Principles of Consolidation - The consolidated financial statements include the accounts of Everflow, its wholly-owned subsidiaries, including EEI, and interests with joint venture partners (collectively, the “Company”), which are accounted for under the proportional consolidation method. All significant accounts and transactions between the consolidated entities have been eliminated. E. Cash and Equivalents - The Company considers all highly liquid debt instruments purchased with an original maturity of three may may, F. Investments – The Company's investments consist of shares held in a mutual fund that invests primarily in investment grade, U.S. dollar denominated short-term fixed and floating rate debt securities. The mutual fund seeks current income while seeking to maintain a low volatility of principal. The Financial Accounting Standards Board established a framework for measuring fair value and expanded disclosures about fair value measurements by establishing a fair value hierarchy that prioritizes the inputs and defines valuation techniques used to measure fair value. The hierarchy gives highest priority to Level I inputs and lowest priority to Level III inputs. The three Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date. Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level III – Pricing inputs are unobservable for the financial instrument and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company's investments are carried at fair market value based on quoted prices available in active markets and are therefore classified as Level 1. G. Operational Advances - The Company collects and maintains funds on behalf of joint venture partners who own working interests in wells of which the Company manages for their anticipated share of future plugging and abandonment costs. As of June 30, 2020 December 31, 2019, $2,501,717 $2,463,685, $565,000 $390,000 June 30, 2020 December 31, 2019, H. Asset Retirement Obligations - GAAP requires the fair value of a liability for an asset retirement obligation to be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. For the Company, these obligations include dismantlement, plugging and abandonment of oil and gas wells and associated pipelines and equipment. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depleted over the estimated useful life of the related asset. The estimated liability is based on historical experience in dismantling, plugging and abandoning wells, estimated remaining lives of those wells based on reserves estimates, estimates of the external cost to dismantle, plug and abandon the wells in the future and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted, risk-free interest rate. Gain on disposal of property and equipment includes approximately $495,200 $5,100 six June 30, 2020 2019, $5,500 $900 three June 30, 2020 2019, I. Revenue Recognition – Revenues from contracts with customers are recognized when performance obligations are satisfied in accordance with contractual terms. For the sale of crude oil and natural gas from operated properties, the Company generally considers each unit (BBL or MCF) to be a separate performance obligation. The transaction price may Crude oil and natural gas sales derived from third Crude oil and natural gas sales represent the Company's share of revenues, net of royalties and other revenue interests owned by other parties. When settling crude oil and natural gas on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. Based on the Company's judgment, the Company's performance obligations have been satisfied and an unconditional right to consideration exists at June 30, 2020 December 31, 2019, June 30, 2020 December 31, 2019, The Company utilizes the sales method to account for gas production volume imbalances. Under this method, revenue is recognized only when gas is produced and sold on the Company's behalf. The Company had no June 30, 2020 December 31, 2019, The Company participates (and may no J. Income Taxes - Everflow is not not The Company believes that it has appropriate support for any tax positions taken and, as such, does not K. Allocation of Income and Per Unit Data - Under the terms of the limited partnership agreement, initially, 99% 1% may 3 Earnings per limited partner Unit have been computed based on the weighted average number of Units outstanding during each period presented. L. New Accounting Standards - The Company has reviewed recently issued accounting standards in order to determine their effects, if any, on the consolidated financial statements. Based on that review, the Company believes that none M. Reclassifications – Certain prior period amounts have been reclassified to conform with the current period's presentation. N. Subsequent Event – In July 2020, third 47 $570,000

Note 2 - Current Liabilities

Note 2 - Current Liabilities	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 2. Current Liabilities The Company's current liabilities consist of the following at June 30, 2020 December 31, 2019: June 30, December 31, 2020 2019 Accounts Payable: Production and related other $ 1,945,376 $ 1,768,723 Other 767,419 304,488 Joint venture partner deposits 63,379 63,379 Total accounts payable $ 2,776,174 $ 2,136,590 Accrued Expenses: Current portion of asset retirement obligations $ 554,000 $ 581,000 Paycheck Protection Program loan 326,932 - Payroll and retirement plan contributions 271,118 651,856 Drilling 96,419 96,419 Repurchase of Units 69,694 - Federal, state and local taxes 18,077 35,917 Other 7,500 60,300 Total accrued expenses $ 1,343,740 $ 1,425,492 In March 2020, June 2020. Paycheck Protection Program (the “PPP”). In April 2020, $326,932 eighteen 0.98% Disposals of property and equipment reflect additions to accounts payable – other.

Note 3 - Partners' Equity

Note 3 - Partners' Equity	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Partners' Capital Notes Disclosure [Text Block]	Note 3. Partners' Equity Units represent limited partnership interests in Everflow. The Units are transferable subject to the approval of EML and to the laws governing the transfer of securities. The Units are not may The partnership agreement provides that Everflow will repurchase for cash up to 10% May 1 June 30 December 31 66% 10% 2020 December 31, 2019 $0.86 $0.25 April 2020. In June 2020, 81,039 $0.86 June 2019, 86,388 $1.50 June 2018, 68,261 $0.11 The Company has an Option Repurchase Plan (the “Option Plan”) which permits the grant of options to select officers and employees to purchase certain Units acquired by the Company pursuant to the Repurchase Right. The purpose of the Option Plan is to assist the Company to attract and retain officers and other key employees and to enable those individuals to acquire or increase their ownership interest in the Company in order to encourage them to promote the growth and profitability of the Company. The Option Plan is designed to align directly the financial interests of the participants with the financial interests of the Unitholders. The Company granted 30,000 June 2020, 2019 2018, All Units repurchased pursuant to the Repurchase Right are retired except for those Units issued through the exercise of options pursuant to the Option Plan. There were 5,441,928 June 2020. no June 30, 2020 2019

Note 4 - Commitments and Contin

Note 4 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 4. Commitments and Contingencies The Company operates exclusively in Ohio and Pennsylvania of the United States in the business of oil and gas acquisition, exploration, development and production. The Company operates in an environment with many financial risks, including, but not may The Company has multiple contracts with Dominion Field Services (“Dominion”) which obligate Dominion to purchase, and the Company to sell and deliver, certain quantities of natural gas production from the Company's oil and gas properties throughout the contract periods. Management believes the Company can meet its delivery commitments based on estimated production. In March 2020, 19” 19 19. The Company is party to various legal proceedings and claims in the ordinary course of its business. The Company believes that the outcome of these matters will not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Organization Principles of Consolidation [Policy Text Block]	A. Interim Financial Statements - The interim consolidated financial statements included herein have been prepared by the management of Everflow Eastern Partners, L.P., without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations have been made. The accompanying condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 8 03 X. not 10 not 10 March 26, 2020. The results of operations for the interim periods may not
Use of Estimates, Policy [Policy Text Block]	B. Use of Estimates - The preparation of financial statements in conformity 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates impacting the Company's financial statements include revenue and expense accruals and oil and gas reserve quantities. In the oil and gas industry, and especially as related to the Company's natural gas sales, the processing of actual transactions generally occurs 60 90
Organization [Policy Text Block]	C. Organization - Everflow Eastern Partners, L.P. (“Everflow”) is a Delaware limited partnership which was organized in September 1990 Everflow Management Limited, LLC (“EML”), an Ohio limited liability company, is the general partner of Everflow and, as such, is authorized to perform all acts necessary or desirable to carry out the purposes and conduct of the business of Everflow. The members of EML include Everflow Management Corporation ("EMC"), two one September 1990
Consolidation, Policy [Policy Text Block]	D. Principles of Consolidation - The consolidated financial statements include the accounts of Everflow, its wholly-owned subsidiaries, including EEI, and interests with joint venture partners (collectively, the “Company”), which are accounted for under the proportional consolidation method. All significant accounts and transactions between the consolidated entities have been eliminated.
Cash and Cash Equivalents, Policy [Policy Text Block]	E. Cash and Equivalents - The Company considers all highly liquid debt instruments purchased with an original maturity of three may may,
Investment, Policy [Policy Text Block]	F. Investments – The Company's investments consist of shares held in a mutual fund that invests primarily in investment grade, U.S. dollar denominated short-term fixed and floating rate debt securities. The mutual fund seeks current income while seeking to maintain a low volatility of principal. The Financial Accounting Standards Board established a framework for measuring fair value and expanded disclosures about fair value measurements by establishing a fair value hierarchy that prioritizes the inputs and defines valuation techniques used to measure fair value. The hierarchy gives highest priority to Level I inputs and lowest priority to Level III inputs. The three Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date. Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level III – Pricing inputs are unobservable for the financial instrument and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company's investments are carried at fair market value based on quoted prices available in active markets and are therefore classified as Level 1.
Operational Advances [Policy Text Block]	G. Operational Advances - The Company collects and maintains funds on behalf of joint venture partners who own working interests in wells of which the Company manages for their anticipated share of future plugging and abandonment costs. As of June 30, 2020 December 31, 2019, $2,501,717 $2,463,685, $565,000 $390,000 June 30, 2020 December 31, 2019,
Asset Retirement Obligation [Policy Text Block]	H. Asset Retirement Obligations - GAAP requires the fair value of a liability for an asset retirement obligation to be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. For the Company, these obligations include dismantlement, plugging and abandonment of oil and gas wells and associated pipelines and equipment. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depleted over the estimated useful life of the related asset. The estimated liability is based on historical experience in dismantling, plugging and abandoning wells, estimated remaining lives of those wells based on reserves estimates, estimates of the external cost to dismantle, plug and abandon the wells in the future and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted, risk-free interest rate. Gain on disposal of property and equipment includes approximately $495,200 $5,100 six June 30, 2020 2019, $5,500 $900 three June 30, 2020 2019,
Revenue from Contract with Customer [Policy Text Block]	I. Revenue Recognition – Revenues from contracts with customers are recognized when performance obligations are satisfied in accordance with contractual terms. For the sale of crude oil and natural gas from operated properties, the Company generally considers each unit (BBL or MCF) to be a separate performance obligation. The transaction price may Crude oil and natural gas sales derived from third Crude oil and natural gas sales represent the Company's share of revenues, net of royalties and other revenue interests owned by other parties. When settling crude oil and natural gas on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. Based on the Company's judgment, the Company's performance obligations have been satisfied and an unconditional right to consideration exists at June 30, 2020 December 31, 2019, June 30, 2020 December 31, 2019, The Company utilizes the sales method to account for gas production volume imbalances. Under this method, revenue is recognized only when gas is produced and sold on the Company's behalf. The Company had no June 30, 2020 December 31, 2019, The Company participates (and may no
Income Tax, Policy [Policy Text Block]	J. Income Taxes - Everflow is not not The Company believes that it has appropriate support for any tax positions taken and, as such, does not
Earnings Per Share, Policy [Policy Text Block]	K. Allocation of Income and Per Unit Data - Under the terms of the limited partnership agreement, initially, 99% 1% may 3 Earnings per limited partner Unit have been computed based on the weighted average number of Units outstanding during each period presented.
New Accounting Pronouncements, Policy [Policy Text Block]	L. New Accounting Standards - The Company has reviewed recently issued accounting standards in order to determine their effects, if any, on the consolidated financial statements. Based on that review, the Company believes that none
Reclassification, Comparability Adjustment [Policy Text Block]	M. Reclassifications – Certain prior period amounts have been reclassified to conform with the current period's presentation.
Subsequent Events, Policy [Policy Text Block]	N. Subsequent Event – In July 2020, third 47 $570,000

Note 2 - Current Liabilities (T

Note 2 - Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	June 30, December 31, 2020 2019 Accounts Payable: Production and related other $ 1,945,376 $ 1,768,723 Other 767,419 304,488 Joint venture partner deposits 63,379 63,379 Total accounts payable $ 2,776,174 $ 2,136,590 Accrued Expenses: Current portion of asset retirement obligations $ 554,000 $ 581,000 Paycheck Protection Program loan 326,932 - Payroll and retirement plan contributions 271,118 651,856 Drilling 96,419 96,419 Repurchase of Units 69,694 - Federal, state and local taxes 18,077 35,917 Other 7,500 60,300 Total accrued expenses $ 1,343,740 $ 1,425,492

Note 1 - Organization and Sum_2

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Cash and Equivalents Maturity Period (Month)				90 days
OPERATIONAL ADVANCES		$ 2,501,717		$ 2,501,717		$ 2,463,685
Noncash Settlements of Asset Retirement Obligations		5,500	$ 900	495,200	$ 5,100
Gas Balancing Payable		$ 0		$ 0		0
Number of Uncertain Tax Positions		0		0
Subsequent Event [Member]
Number of Oil and Gas Properties Sold	47
Gain (Loss) on Disposition of Oil and Gas and Timber Property, Total	$ 570,000
Limited Partner [Member]
Initial Percentage of Revenue and Cost Allocation		99.00%		99.00%
General Partner [Member]
Initial Percentage of Revenue and Cost Allocation		1.00%		1.00%
Employee [Member]
Related Party Deposit Liabilities		$ 565,000		$ 565,000		$ 390,000
Minimum [Member]
Actual Processing Time for Sales Transaction (Day)				60 days
Maximum [Member]
Actual Processing Time for Sales Transaction (Day)				90 days

Note 2 - Current Liabilities (D

Note 2 - Current Liabilities (Details Textual) - USD ($)	1 Months Ended
	Apr. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Other Short-term Borrowings	$ 326,932	$ 326,932
Paycheck Protection Program CARES Act [Member]
Debt Instrument, Frequency of Periodic Payment	18
Debt Instrument, Interest Rate, Stated Percentage, Per Year	0.98%

Note 2 - Current Liabilities -

Note 2 - Current Liabilities - Components of Accounts Payable and Accrued (Details) - USD ($)	Jun. 30, 2020	Apr. 30, 2020	Dec. 31, 2019
Accounts Payable:
Production and related other	$ 1,945,376		$ 1,768,723
Other	767,419		304,488
Joint venture partner deposits	63,379		63,379
Total accounts payable	2,776,174		2,136,590
Accrued Expenses:
Current portion of asset retirement obligations	554,000		581,000
Paycheck Protection Program loan	326,932	$ 326,932
Payroll and retirement plan contributions	271,118		651,856
Drilling	96,419		96,419
Repurchase of Units	69,694
Federal, state and local taxes	18,077		35,917
Other	7,500		60,300
Total accrued expenses	$ 1,343,740		$ 1,425,492

Note 3 - Partners' Equity (Deta

Note 3 - Partners' Equity (Details Textual) - $ / shares	1 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2020	Apr. 30, 2020	Dec. 31, 2019
Maximum percentage of units to be repurchased	10.00%			10.00%
Percentage of Adjusted Book Value of Company Allocable to the Repurchase Right Per Unit	66.00%			66.00%
Minimum Percentage of Outstanding Units Tendered to Use Prorated Method for Calculating Actual Number of Units Acquired	10.00%			10.00%
Net Repurchase Price of Partner Unit (in dollars per share)	$ 0.86	$ 1.50	$ 0.11	$ 0.86
Partners' Capital Account, Distribution Per Unit of Limited Partner Interest (in dollars per share)					$ 0.25
Partners' Capital Account, Units, Treasury Units Purchased (in shares)	81,039	86,388	68,261
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	30,000	30,000	30,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)	30,000	30,000	30,000
Limited Partners' Capital Account, Units Outstanding (in shares)	5,441,928			5,441,928		5,492,967
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	0			0		0