Derivatives (Tables)

12 Months Ended

Jun. 30, 2022

Derivatives

Schedule of Derivative Instruments

The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of June 30, 2022 and 2021 (in thousands):

Derivatives not designated
as hedging contracts	Balance sheet	Derivative Contract Asset				Balance sheet	Derivative Contract Liability
under ASC 815	location	June 30, 2022		June 30, 2021		location	June 30, 2022		June 30, 2021
Commodity contracts	Current assets - derivative contract assets	$	170	$	—	Current liabilities - derivative contract liabilities	$	2,164	$	—
Commodity contracts	Other assets - derivative contract assets		—		—	Long term liabilities - derivative contract liabilities		—		—
Total derivatives not designated as hedging contracts under ASC 815		$	170	$	—		$	2,164	$	—

				Weighted Average		Weighted Average
			Volumes in	Floor Price per		Ceiling Price per
Period	Instrument	Commodity	MMBTU/Bbl	MMBTU/Bbl		MMBTU/Bbl
July 2022 - October 2022	Collar	Natural Gas	471,640	$	3.75	$	5.05
November 2022 - February 2023	Collar	Natural Gas	443,750		3.75		7.30
July 2022 - October 2022	Collar	Natural Gas	317,579		5.25		6.67
November 2022 - March 2023	Collar	Natural Gas	374,072		5.25		7.50
July 2022 - February 2023	Collar	Crude Oil	122,389		70.00		87.50

Derivative Instruments, Gain (Loss)

Derivatives not designated	Location of gain (loss)
as hedging contracts	recognized in income on	Years Ended June 30,
under ASC 815	derivative contracts	2022		2021
Commodity contracts:
Realized gain (loss) on derivative contracts	Other income and expenses - net gain (loss) on derivative contracts	$	(1,769)	$	(2,526)
Unrealized gain (loss) on derivative contracts	Other income and expenses - net gain (loss) on derivative contracts		(1,994)		1,911
Total net gain (loss) on derivative contracts		$	(3,763)	$	(615)

Offsetting Assets

The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of June 30, 2022 and 2021 (in thousands):

	Derivative Contract Asset				Derivative Contract Liability
Offsetting of Derivative Assets and Liabilities	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Gross amounts presented in the Consolidated Balance Sheet	$	170	$	—	$	2,164	$	—
Amounts not offset in the Consolidated Balance Sheet		(170)		—		(170)		—
Net amount	$	—	$	—	$	1,994	$	—

Offsetting Liabilities

The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of June 30, 2022 and 2021 (in thousands):

	Derivative Contract Asset				Derivative Contract Liability
Offsetting of Derivative Assets and Liabilities	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Gross amounts presented in the Consolidated Balance Sheet	$	170	$	—	$	2,164	$	—
Amounts not offset in the Consolidated Balance Sheet		(170)		—		(170)		—
Net amount	$	—	$	—	$	1,994	$	—