Income Taxes (Tables)

3 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the Company's provision for income taxes from continuing operations are as follows:

	Three Months Ended December 31,
	2021		2020
	(In thousands)
Current income tax expense:
Federal	$	—	$	—
State	113		—
Total current income tax expense	$	113	$	—
Deferred income tax expense (benefit):
Federal	$	5,669	$	—
State	87		(515)
Total deferred income tax expense (benefit)	$	5,756	$	(515)
Total income tax expense (benefit)	$	5,869	$	(515)

Schedule of Deferred Tax Assets and Liabilities

The Company's net deferred tax position is as follows:

	December 31, 2021		September 30, 2021
	(In thousands)
Deferred tax assets
Non-cash gain on derivatives	$	10,286	$	11,006
Intangibles	215		222
Inventory	23		23
Share-based compensation	690		480
Accruals and other	558		578
Net operating loss	3,172		5,422
Total deferred tax assets	14,944		17,731
Oil and natural gas assets	(32,154)		(29,161)
Other fixed assets	(174)		(198)
Total deferred tax liabilities	(32,328)		(29,359)
Net deferred tax liabilities	$	(17,384)	$	(11,628)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:

	Three Months Ended December 31,
	2021		2020
Tax at statutory rate	21.0	%	21.0	%
Nondeductible compensation	0.1	%	—	%
Share-based compensation	(0.3)	%	—	%
State income taxes, net of federal benefit	0.7	%	2.0	%
Income subject to taxation by REP LLC's unitholders	—	%	(21.0)	%
Effective income tax rate	21.5	%	2.0	%