XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Statements Of Cash Flows - USD ($)
9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net income (loss) $ 2,492,799 $ (11,024,074)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 13,654,268 18,963,017
Impairment 10,788 11,849,064
Provision for deferred income taxes 149,000 (10,344,000)
Gain from leasing fee mineral acreage (3,999,632) (7,187,377)
Proceeds from leasing fee mineral acreage 4,026,283 7,494,570
Net (gain) loss on sales of assets 87,161 (271,080)
Directors' deferred compensation expense 266,182 247,835
Restricted stock awards 454,854 644,783
Other 2,897 73,527
Cash provided (used) by changes in assets and liabilities:    
Oil, NGL and natural gas sales receivables (564,767) 3,472,291
Fair value of derivative contracts (1,879,668) 5,901,280
Refundable production taxes   476,001
Other current assets 196,362 69,237
Accounts payable (127,375) (698,593)
Income taxes receivable (488,112) 345,897
Income taxes payable   659,319
Accrued liabilities 40,197 (118,403)
Total adjustments 11,828,438 31,577,368
Net cash provided by operating activities 14,321,237 20,553,294
Investing Activities    
Capital expenditures, including dry hole costs (18,011,721) (3,359,518)
Investments in partnerships (18,531) 50,126
Proceeds from sales of assets 718,700 627,547
Net cash provided (used) by investing activities (17,311,552) (2,681,845)
Financing Activities    
Borrowings under debt agreement 16,702,602 8,560,234
Payments of loan principal (11,202,602) (24,360,234)
Purchases of treasury stock (407,677) (117,165)
Payments of dividends (2,012,329) (2,007,658)
Excess tax benefit on stock-based compensation   (44,000)
Net cash provided (used) by financing activities 3,079,994 (17,968,823)
Increase (decrease) in cash and cash equivalents 89,679 (97,374)
Cash and cash equivalents at beginning of period 471,213 603,915
Cash and cash equivalents at end of period 560,892 506,541
Supplemental Schedule of Noncash Investing and Financing Activities:    
Additions to asset retirement obligations 60,276 8,156
Gross additions to properties and equipment 19,579,304 3,529,104
Net (increase) decrease in accounts payable for properties and equipment additions (1,567,583) (169,586)
Capital expenditures and acquisitions, including dry hole costs $ 18,011,721 $ 3,359,518