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Summary Of Significant Accounting Policies (Tables)
12 Months Ended
Sep. 30, 2013
Summary Of Significant Accounting Policies [Abstract]  
Summary Of Derivative Instruments Contracts

 

 

Derivative contracts in place as of September 30, 2012

(prices below reflect the Company’s net price from the listed pipelines)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Production volume

 

Indexed

 

 

Contract period

 

covered per month

 

Pipeline

 

Fixed price

Natural gas basis protection swaps

 

 

 

 

 

 

January - December 2012

 

50,000 Mmbtu

 

CEGT

 

NYMEX -$.29

January - December 2012

 

40,000 Mmbtu

 

CEGT

 

NYMEX -$.30

January - December 2012

 

50,000 Mmbtu

 

PEPL

 

NYMEX -$.29

January - December 2012

 

50,000 Mmbtu

 

PEPL

 

NYMEX -$.30

 

 

 

 

 

 

 

Natural gas costless collars

 

 

 

 

 

 

March - October 2012

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.25 ceiling

April - October 2012

 

120,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.10 ceiling

April - October 2012

 

60,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.20 ceiling

April - October 2012

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.20 ceiling

April - October 2012

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.45 ceiling

April - October 2012

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.30 ceiling

August - October 2012

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$2.50 floor/$3.30 ceiling

November 2012 - January 2013

 

150,000 Mmbtu

 

NYMEX Henry Hub

 

$3.00 floor/$3.70 ceiling

November 2012 - January 2013

 

150,000 Mmbtu

 

NYMEX Henry Hub

 

$3.00 floor/$3.70 ceiling

November 2012 - January 2013

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$3.00 floor/$3.65 ceiling

 

 

 

 

 

 

 

Oil costless collars

 

 

 

 

 

 

January - December 2012

 

2,000 Bbls

 

NYMEX WTI

 

$90 floor/$105 ceiling

February - December 2012

 

3,000 Bbls

 

NYMEX WTI

 

$90 floor/$110 ceiling

May - December 2012

 

2,000 Bbls

 

NYMEX WTI

 

$90 floor/$114 ceiling

 

Derivative contracts in place as of September 30, 2013

(prices below reflect the Company’s net price from the listed pipelines)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Production volume

 

Indexed

 

 

Contract period

 

covered per month

 

pipeline

 

Fixed price

Natural gas costless collars

 

 

 

 

 

 

February - December 2013

 

80,000 Mmbtu

 

NYMEX Henry Hub

 

$3.75 floor/$4.25 ceiling

February - December 2013

 

50,000 Mmbtu

 

NYMEX Henry Hub

 

$3.75 floor/$4.30 ceiling

February - December 2013

 

100,000 Mmbtu

 

NYMEX Henry Hub

 

$3.75 floor/$4.05 ceiling

November 2013 - April 2014

 

160,000 Mmbtu

 

NYMEX Henry Hub

 

$4.00 floor/$4.55 ceiling

 

 

 

 

 

 

 

Natural gas fixed price swaps

 

 

 

 

 

 

March - October 2013

 

100,000 Mmbtu

 

NYMEX Henry Hub

 

$3.505

March - October 2013

 

70,000 Mmbtu

 

NYMEX Henry Hub

 

$3.400

April - December 2013

 

40,000 Mmbtu

 

NYMEX Henry Hub

 

$3.655

May - November 2013

 

100,000 Mmbtu

 

NYMEX Henry Hub

 

$4.320

 

 

 

 

 

 

 

Oil costless collars

 

 

 

 

 

 

March - December 2013

 

3,000 Bbls

 

NYMEX WTI

 

$90.00 floor/$102.00 ceiling

March - December 2013

 

4,000 Bbls

 

NYMEX WTI

 

$90.00 floor/$101.50 ceiling

May - December 2013

 

2,000 Bbls

 

NYMEX WTI

 

$90.00 floor/$97.50 ceiling

January - June 2014

 

4,000 Bbls

 

NYMEX WTI

 

$90.00 floor/$101.50 ceiling

 

 

 

 

 

 

 

Oil fixed price swaps

 

 

 

 

 

 

September - December 2013

 

4,000 Bbls

 

NYMEX WTI

 

$105.250

 

Summary Of Realized And Unrealized Gains And (Losses)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gains (losses) on natural gas

 

Fiscal year ended

derivative contracts

 

9/30/2013

 

9/30/2012

 

9/30/2011

Realized

 

$

13,555 

 

$

462,033 

 

$

2,138,685 

Increase (decrease) in fair value

 

 

597,469 

 

 

(388,211)

 

 

(1,404,386)

Total

 

$

611,024 

 

$

73,822 

 

$

734,299 

 

Summary Of Derivative Contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9/30/2013

 

9/30/2012

 

 

Fair Value (a)

 

Fair Value (a)

 

 

Commodity Contracts

 

Commodity Contracts

 

 

Current Assets

 

Current Liabilities

 

Current Assets

 

Current Liabilities

Gross amounts recognized

 

$

665,099 

 

$

239,901 

 

$

51,530 

 

$

223,801 

Offsetting adjustments

 

 

(239,901)

 

 

(239,901)

 

 

(51,530)

 

 

(51,530)

Net presentation on Condensed Balance Sheets

 

$

425,198 

 

$

 -

 

$

 -

 

$

172,271 

 

(a)See Fair Value Measurements section for further disclosures regarding fair value of financial instruments.

Summary Of Fair Value Measurement Information For Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement at September 30, 2013

 

 

Quoted Prices in Active Markets

 

Significant Other Observable Inputs

 

Significant Unobservable Inputs

 

Total Fair

 

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Value

Financial Assets (Liabilities):

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Contracts - Swaps

 

$

 -

 

$

182,296 

 

$

 -

 

$

182,296 

Derivative Contracts - Collars

 

$

 -

 

$

 -

 

$

242,902 

 

$

242,902 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement at September 30, 2012

 

 

Quoted Prices in Active Markets

 

Significant Other Observable Inputs

 

Significant Unobservable Inputs

 

Total Fair

 

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Value

Financial Assets (Liabilities):

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Contracts - Swaps

 

$

 -

 

$

(75,334)

 

$

 -

 

$

(75,334)

Derivative Contracts - Collars

 

$

 -

 

$

 -

 

$

(96,937)

 

$

(96,937)

 

Summary Of Unobservable Inputs For Level 3 Fair Value Measurements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Instrument Type

 

Unobservable Input

 

Range

 

Weighted Average

 

Fair Value September 30, 2013

 

 

 

 

 

 

 

 

 

 

Oil Collars

 

Oil price volatility curve

 

0% - 17.56%

 

10.27%

 

$

(233,041)

Natural Gas Collars

 

Natural gas price volatility curve

 

0% - 19.67%

 

12.00%

 

$

475,943 

 

Summary Of Reconciliation Of Assets Classified As Level 3 Measurements

 

 

 

 

 

 

 

Derivatives

Balance of Level 3 as of October 1, 2012

$

(96,937)

Total gains or (losses) - realized and unrealized:

 

 

Included in earnings

 

 

Realized

 

242,435 

Unrealized

 

97,404 

Included in other comprehensive income (loss)

 

 -

Purchases, issuances and settlements

 

 -

Transfers in and out of Level 3

 

 -

Balance of Level 3 as of September 30, 2013

$

242,902 

 

Summary Of Impairments Associated With Certain Assets Measured At Fair Value On A Nonrecurring Basis Within Level 3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended September 30,

 

 

 

2013

 

2012

 

 

 

Fair Value

 

Impairment

 

Fair Value

 

Impairment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Producing Properties

 

$

356,855 

 

$

530,670 

 

$

1,301,951 

 

$

826,508 

(a)

 

Summary Of Asset Retirement Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

Asset Retirement Obligations as of beginning of the year

 

$

2,122,950 

 

$

1,843,875 

Accretion of Discount

 

 

122,391 

 

 

121,112 

New Wells Placed on Production

 

 

167,609 

 

 

184,027 

Wells Sold or Plugged

 

 

(19,760)

 

 

(26,064)

Asset Retirement Obligations as of end of the year

 

$

2,393,190 

 

$

2,122,950