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Discontinued Operations and Assets Held For Sale
12 Months Ended
Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations and Assets Held For Sale Discontinued Operations and Assets Held For Sale
Kansas Reporting Unit
On March 10, 2021, the Company entered into a PSA to divest of the Kansas Reporting Unit for an agreed upon purchase price of $3.5 million before certain closing adjustments. In addition, the Company also agreed to assign to the buyer its lease associated with Tengasco's former corporate office in Greenwood Village, Colorado. With Tengasco qualifying as a business and the Kansas Reporting Unit making up a significant portion of the assets of Tengasco, the Company concluded that the transaction met the requirements of assets held for sale and discontinued operations upon the acquisition date. The sale closed on April 2, 2021 for an adjusted purchase price of $3.3 million, after customary closing adjustments.
The following table presents the components of the loss on discontinued operations reported in the consolidated statement of operations for the year ended September 30, 2021 (in thousands):
Oil and natural gas sales$— 
Total revenues 
Lease operating expenses115 
Goodwill impairment18,516 
Total expenses18,631 
Other expense107 
Loss from discontinued operations before income taxes(18,738)
Income tax expense(59)
Net loss from discontinued operations, net of tax$(18,797)
For further discussion of revenues and expenses included in discontinued operations, see further discussion in Note 4 - Acquisitions and Divestitures.