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Supplementary Information On Natural Gas, Oil And NGL Reserves (Tables)
12 Months Ended
Dec. 31, 2023
Extractive Industries [Abstract]  
Summary Of Capitalized Costs Of Natural Gas and Oil Properties And Related Depreciation, Depletion And Amortization

 

 

December 31,

 

 

September 30,

 

 

 

2023

 

 

2022

 

Producing properties

 

$

209,082,847

 

 

$

248,978,928

 

Non-producing minerals

 

 

56,670,341

 

 

 

50,032,539

 

Non-producing leasehold

 

 

2,150,104

 

 

 

1,746,797

 

 

 

 

267,903,292

 

 

 

300,758,264

 

Accumulated depreciation, depletion and amortization

 

 

(113,506,928

)

 

 

(168,349,542

)

Net capitalized costs

 

$

154,396,364

 

 

$

132,408,722

 

Summary Of Costs Incurred In Natural Gas and Oil Producing Activities

 

 

Year Ended

 

 

Three Months Ended

 

 

Year Ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

September 30, 2022

 

Property acquisition costs

 

$

30,435,595

 

 

$

14,637,290

 

 

$

46,224,928

 

Development costs

 

 

113,967

 

 

 

36,801

 

 

 

156,752

 

 

 

$

30,549,562

 

 

$

14,674,091

 

 

$

46,381,680

 

 

Summary Of Net Quantities Of Proved, Developed And Undeveloped Natural Gas, Oil And NGL Reserves

 

 

Proved Reserves

 

 

 

Natural Gas

 

 

Oil

 

 

NGL

 

 

Total

 

 

 

(Mcf)

 

 

(Barrels)

 

 

(Barrels)

 

 

Bcfe

 

September 30, 2021

 

 

64,952,668

 

 

 

1,504,840

 

 

 

1,501,853

 

 

 

83.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 

2,405,959

 

 

 

(13,498

)

 

 

409,597

 

 

 

4.8

 

Acquisitions

 

 

15,302,364

 

 

 

29,987

 

 

 

18,260

 

 

 

15.6

 

Divestitures

 

 

(16,624,066

)

 

 

(72,244

)

 

 

(83,931

)

 

 

(17.6

)

Extensions, discoveries and other additions

 

 

3,627,989

 

 

 

132,227

 

 

 

82,024

 

 

 

4.9

 

Production

 

 

(7,427,708

)

 

 

(198,535

)

 

 

(165,120

)

 

 

(9.6

)

September 30, 2022

 

 

62,237,206

 

 

 

1,382,777

 

 

 

1,762,683

 

 

 

81.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 

(3,126,679

)

 

 

(31,388

)

 

 

(31,989

)

 

 

(3.5

)

Acquisitions

 

 

1,424,204

 

 

 

8,179

 

 

 

7,370

 

 

 

1.5

 

Divestitures

 

 

(131,497

)

 

 

-

 

 

 

(7,861

)

 

 

(0.2

)

Extensions, discoveries and other additions

 

 

2,471,579

 

 

 

64,844

 

 

 

16,983

 

 

 

3.0

 

Production

 

 

(1,669,320

)

 

 

(52,406

)

 

 

(38,611

)

 

 

(2.2

)

December 31, 2022

 

 

61,205,493

 

 

 

1,372,006

 

 

 

1,708,575

 

 

 

79.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 

(4,997,247

)

 

 

29,514

 

 

 

(86,414

)

 

 

(5.3

)

Acquisitions

 

 

7,322,724

 

 

 

35,228

 

 

 

20,361

 

 

 

7.7

 

Divestitures

 

 

(7,296,462

)

 

 

(340,265

)

 

 

(145,231

)

 

 

(10.2

)

Extensions, discoveries and other additions

 

 

7,211,533

 

 

 

158,395

 

 

 

102,849

 

 

 

8.8

 

Production

 

 

(7,457,084

)

 

 

(182,916

)

 

 

(137,484

)

 

 

(9.4

)

December 31, 2023

 

 

55,988,957

 

 

 

1,071,962

 

 

 

1,462,656

 

 

 

71.2

 

Summary Of Proved Developed And Undeveloped Reserves

 

 

Proved Developed Reserves

 

 

Proved Undeveloped Reserves

 

 

 

Natural Gas

 

 

Oil

 

 

NGL

 

 

Natural Gas

 

 

Oil

 

 

NGL

 

 

 

(Mcf)

 

 

(Barrels)

 

 

(Barrels)

 

 

(Mcf)

 

 

(Barrels)

 

 

(Barrels)

 

September 30, 2022

 

 

50,304,185

 

 

 

1,275,853

 

 

 

1,698,046

 

 

 

11,933,021

 

 

 

106,924

 

 

 

64,637

 

December 31, 2022

 

 

48,596,944

 

 

 

1,253,838

 

 

 

1,660,439

 

 

 

12,608,549

 

 

 

118,168

 

 

 

48,136

 

December 31, 2023

 

 

44,479,988

 

 

 

937,465

 

 

 

1,362,944

 

 

 

11,508,969

 

 

 

134,497

 

 

 

99,712

 

Summary Of Proved Undeveloped Reserves

Beginning proved undeveloped reserves

 

 

13,606,373

 

Proved undeveloped reserves transferred to proved developed

 

 

(12,328,750

)

Revisions

 

 

(471,393

)

Extensions and discoveries

 

 

7,819,628

 

Sales

 

 

-

 

Purchases

 

 

4,288,365

 

Ending proved undeveloped reserves

 

 

12,914,223

 

Summary Of Standardized Measure Of Discounted Future Net Cash Flows

 

 

Year Ended

 

 

Three Months Ended

 

 

Year Ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

September 30, 2022

 

Future cash inflows

 

$

264,083,714

 

 

$

592,958,683

 

 

$

591,082,414

 

Future production costs

 

 

(67,959,181

)

 

 

(128,291,757

)

 

 

(131,377,260

)

Future development and asset retirement costs

 

 

(1,224,333

)

 

 

(2,531,896

)

 

 

(2,543,510

)

Future income tax expense

 

 

(18,437,730

)

 

 

(82,500,751

)

 

 

(107,209,614

)

Future net cash flows

 

 

176,462,470

 

 

 

379,634,279

 

 

 

349,952,030

 

 

 

 

 

 

 

 

 

 

 

10% annual discount

 

 

(76,071,084

)

 

 

(182,144,644

)

 

 

(167,382,649

)

Standardized measure of discounted future net
   cash flows

 

$

100,391,386

 

 

$

197,489,635

 

 

$

182,569,381

 

Summary Of Changes In Standardized Measure Of Discounted Future Net Cash Flows

 

 

Year Ended

 

 

Three Months Ended

 

 

Year Ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

September 30, 2022

 

Beginning of year

 

$

197,489,635

 

 

$

182,569,381

 

 

$

74,790,342

 

Changes resulting from:

 

 

 

 

 

 

 

 

 

Sales of natural gas, oil and NGL, net of
   production costs

 

 

(29,380,772

)

 

 

(11,799,485

)

 

 

(56,691,954

)

Net change in sales prices and production costs

 

 

(112,688,455

)

 

 

5,708,897

 

 

 

172,990,983

 

Net change in future development and asset
   retirement costs

 

 

171,076

 

 

 

3,771

 

 

 

(360,323

)

Extensions and discoveries

 

 

13,586,306

 

 

 

9,002,111

 

 

 

14,493,340

 

Revisions of quantity estimates

 

 

(16,554,366

)

 

 

(10,623,730

)

 

 

14,569,169

 

Acquisitions (divestitures) of reserves-in-place

 

 

(19,144,486

)

 

 

4,085,305

 

 

 

(5,808,769

)

Accretion of discount

 

 

24,132,484

 

 

 

5,948,166

 

 

 

9,652,434

 

Net change in income taxes

 

 

34,208,654

 

 

 

11,522,045

 

 

 

(33,623,250

)

Change in timing and other, net

 

 

8,571,310

 

 

 

1,073,174

 

 

 

(7,442,591

)

Net change

 

 

(97,098,249

)

 

 

14,920,254

 

 

 

107,779,039

 

End of year

 

$

100,391,386

 

 

$

197,489,635

 

 

$

182,569,381