Oil and Natural Gas Properties

6 Months Ended

Mar. 31, 2022

Extractive Industries [Abstract]

Oil and Natural Gas Properties

Oil and Natural Gas Properties

Oil and natural gas properties are summarized below:

	March 31, 2022		September 30, 2021
	(In thousands)
Proved	$	433,274	$	402,165
Unproved	16,491		20,557
Work-in-progress	28,207		11,411
	477,972		434,133
Accumulated depletion and amortization	(101,441)		(88,336)
Total oil and natural gas properties, net	$	376,531	$	345,797

Depletion and amortization expense for proved oil and natural gas properties was $6.4 million and $6.1 million respectively, for the three months ended March 31, 2022 and 2021. Depletion and amortization expense for proved oil and natural gas properties was $13.1 million and $12.0 million, respectively, for the six months ended March 31, 2022 and 2021.

Exploration expense was $1.5 million and $5.5 million, respectively, for the three months ended March 31, 2022 and 2021, and $2.1 million and $5.9 million, respectively, for the six months ended March 31, 2022 and 2021. Exploration expense was primarily attributable to the expiration of oil and natural gas leases for the three and six months ended March 31, 2022 and 2021.