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Derivatives (Tables)
 12 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary Of Derivative Instruments Contracts

Derivative contracts in place as of September 30, 2022

Fiscal period

 

Contract total volume

 

Index

 

Contract average price

Natural gas costless collars

 

 

 

 

 

 

2023

 

1,415,000 Mmbtu

 

NYMEX Henry Hub

 

$4.13floor/$7.69ceiling

2024

 

135,000 Mmbtu

 

NYMEX Henry Hub

 

$3.28floor/$5.98ceiling

Natural gas fixed price swaps

 

 

 

 

 

 

2023

 

2,100,000 Mmbtu

 

NYMEX Henry Hub

 

$3.24

2024

 

380,000 Mmbtu

 

NYMEX Henry Hub

 

$3.41

Oil Costless Collars

 

 

 

 

 

 

2023

 

15,000 Bbls

 

NYMEX WTI

 

$75.00floor/$96.00ceiling

Oil fixed price swaps

 

 

 

 

 

 

2023

 

72,750 Bbls

 

NYMEX WTI

 

$63.65

2024

 

14,250 Bbls

 

NYMEX WTI

 

$74.91

 
Summary of Gain or Loss on Derivative Contracts, Net Cash receipts in the following table reflect the gain or loss on derivative contracts which settled during the respective periods, and the non-cash gain or loss reflect the change in fair value of derivative contracts as of the end of the respective periods. The $8.8 million in cash received from BP in fiscal 2021 is a cash flow from a financing activity and is excluded from the table below.

 

For the Year Ended September 30,

 

 

2022

 

 

2021

 

 

2020

 

Cash received (paid) on settled derivative contracts:

 

 

 

 

 

 

 

 

    Natural gas costless collars

$

(1,878,250

)

 

$

(4,271,467

)

 

$

28,510

 

    Natural gas fixed price swaps(1)

 

(9,065,100

)

 

 

(1,862,801

)

 

 

1,687,600

 

    Oil costless collars

 

-

 

 

 

(2,047,098

)

 

 

1,011,472

 

    Oil fixed price swaps(1)

 

(3,590,210

)

 

 

(3,744,303

)

 

 

1,381,628

 

Cash received (paid) on settled derivative contracts, net

$

(14,533,560

)

 

$

(11,925,669

)

 

$

4,109,210

 

Non-cash gain (loss) on derivative contracts:

 

 

 

 

 

 

 

 

    Natural gas costless collars

$

(1,044,958

)

 

$

706,015

 

 

$

(706,015

)

    Natural gas fixed price swaps

 

(1,954,719

)

 

 

(3,624,108

)

 

 

(1,535,122

)

    Oil costless collars

 

106,157

 

 

 

(63,169

)

 

 

(538,022

)

    Oil fixed price swaps

 

594,002

 

 

 

(1,295,558

)

 

 

(422,632

)

      Non-cash gain (loss) on derivative contracts, net

$

(2,299,518

)

 

$

(4,276,820

)

 

$

(3,201,791

)

Gains (losses) on derivative contracts, net

$

(16,833,078

)

 

$

(16,202,489

)

 

$

907,419

 

(1) For the year ended September 30, 2022, excludes $7,522,794 of cash paid to settle off-market derivative contracts that are not reflected on the Condensed Statements of Operations. Total cash paid related to off-market derivatives was $19,260,104 for the year ended September 30, 2022 and is reflected in the Financing Activities section of the Condensed Statements of Cash Flows.
Summary Of Derivative Contracts

 

 

 

9/30/2022

 

 

9/30/2021

 

 

 

Fair Value

 

 

Fair Value

 

 

 

Commodity Contracts

 

 

Commodity Contracts

 

 

 

Current Assets

 

 

Current Liabilities

 

 

Non-Current
Assets

 

 

Non-Current
Liabilities

 

 

Current Assets

 

 

Current Liabilities

 

 

Non-Current
Liabilities

 

Gross amounts recognized

 

$

924,258

 

 

$

8,798,237

 

 

$

124,983

 

 

$

812,195

 

 

$

17,395

 

 

$

12,105,383

 

 

$

1,696,479

 

Offsetting adjustments

 

 

(924,258

)

 

 

(924,258

)

 

 

(124,983

)

 

 

(124,983

)

 

 

(17,395

)

 

 

(17,395

)

 

 

-

 

Net presentation on Balance Sheets

 

$

-

 

 

$

7,873,979

 

 

$

-

 

 

$

687,212

 

 

$

-

 

 

$

12,087,988

 

 

$

1,696,479