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Condensed Statements Of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities    
Net income (loss) $ (10,237,279) $ 10,937,968
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 13,003,535 11,950,609
Impairment [1] 11,849,064 3,400,642
Provision for deferred income taxes (7,405,000) 2,698,000
Exploration costs 28,949 28,457
Gain from leasing fee mineral acreage (2,906,480) (281,124)
Net (gain) loss on sales of assets (271,080)  
Income from partnerships (10,508) (288,187)
Distributions received from partnerships 32,632 395,852
Directors' deferred compensation expense 168,402 169,464
Restricted stock awards 508,095 531,243
Bad debt expense (recovery) 19,216  
Cash provided (used) by changes in assets and liabilities:    
Oil, NGL and natural gas sales receivables 3,644,841 6,588,410
Fair value of derivative contracts 3,880,013 (8,588,328)
Refundable production taxes 21,983 26,625
Other current assets (79,829) 26,579
Accounts payable (510,114) (41,635)
Income taxes receivable (775,806)  
Income taxes payable   503,394
Accrued liabilities (393,984) (404,053)
Total adjustments 20,803,929 16,715,948
Net cash provided by operating activities 10,566,650 27,653,916
Investing Activities    
Capital expenditures, including dry hole costs (2,554,543) (19,797,996)
Acquisition of working interest properties   (308,180)
Proceeds from leasing fee mineral acreage 3,193,775 286,844
Investments in partnerships 48,462 (208,312)
Proceeds from sales of assets 627,547  
Net cash provided (used) by investing activities 1,315,241 (20,027,644)
Financing Activities    
Borrowings under debt agreement 6,078,919 18,894,612
Payments of loan principal (16,578,919) (24,971,023)
Purchases of treasury stock (117,165) (120,611)
Payments of dividends (1,338,011) (1,333,023)
Excess tax benefit on stock-based compensation (44,000) (19,000)
Net cash provided (used) by financing activities (11,999,176) (7,549,045)
Increase (decrease) in cash and cash equivalents (117,285) 77,227
Cash and cash equivalents at beginning of period 603,915 509,755
Cash and cash equivalents at end of period 486,630 586,982
Supplemental Schedule of Noncash Investing and Financing Activities:    
Additions to asset retirement obligations 7,160 32,728
Gross additions to properties and equipment 2,483,225 18,207,598
Net (increase) decrease in accounts payable for properties and equipment additions 71,318 1,898,578
Capital expenditures and acquisitions, including dry hole costs $ 2,554,543 $ 20,106,176
[1] At the end of each quarter, the Company assesses the carrying value of its producing properties for impairment. This assessment utilizes estimates of future cash flows. Significant judgments and assumptions in these assessments include estimates of future oil and natural gas prices using a forward NYMEX curve adjusted for locational basis differentials, drilling plans, expected capital costs and an applicable discount rate commensurate with risk of the underlying cash flow estimates. These assessments identified certain properties with carrying value in excess of their calculated fair values.