Property and Equipment

3 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

As of September 30, 2016 and June 30, 2016, our oil and natural gas properties and other property and equipment consisted of the following:

	September 30, 2016			June 30, 2016
Oil and natural gas properties
Property costs subject to amortization	$	80,196,684		$	77,408,353
Less: Accumulated depreciation, depletion, and amortization	(18,745,663		)	(17,437,890		)
Unproved properties not subject to amortization	—			—
Oil and natural gas properties, net	$	61,451,021		$	59,970,463
Other property and equipment
Furniture, fixtures and office equipment, at cost	$	255,099		$	228,752
Artificial lift technology equipment, at cost	7,000			7,000
Less: Accumulated depreciation	(211,514		)	(207,103		)
Other property and equipment, net	$	50,585		$	28,649

During the three months ended September 30, 2016, the Company incurred capital expenditures of $2.8 million for the Delhi field, including approximately $2.4 million for the NGL plant project which is currently in progress. We have incurred approximately $23.9 million on a cumulative basis for the NGL plant out of a total authorized commitment of $24.6 million.