Summary Of Significant Accounting Policies (Tables)
|
12 Months Ended |
Sep. 30, 2016 |
Accounting Policies [Abstract] |
|
Summary Of Derivative Instruments Contracts |
Derivative contracts in place as of September 30, 2015
|
|
Production volume |
|
|
|
|
Contract period |
|
covered per month |
|
Index |
|
Contract price |
Natural gas costless collars |
|
|
|
|
|
|
January - December 2015 |
|
100,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.50 floor / $4.10 ceiling |
January - December 2015 |
|
70,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.25 floor / $4.00 ceiling |
April - October 2015 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.50 floor / $4.00 ceiling |
May - October 2015 |
|
70,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.50 floor / $3.95 ceiling |
Oil costless collars |
|
|
|
|
|
|
July - December 2015 |
|
10,000 Bbls |
|
NYMEX WTI |
|
$80.00 floor / $86.50 ceiling |
Oil fixed price swaps |
|
|
|
|
|
|
April - December 2015 |
|
5,000 Bbls |
|
NYMEX WTI |
|
$94.56 |
July - December 2015 |
|
7,000 Bbls |
|
NYMEX WTI |
|
$93.91 |
Derivative contracts in place as of September 30, 2016
|
|
Production volume |
|
|
|
|
Contract period |
|
covered per month |
|
Index |
|
Contract price |
Natural gas costless collars |
|
|
|
|
|
|
April - October 2016 |
|
200,000 Mmbtu |
|
NYMEX Henry Hub |
|
$1.95 floor / $2.40 ceiling |
October - December 2016 |
|
70,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.75 floor / $3.05 ceiling |
October - December 2016 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.90 floor / $3.40 ceiling |
November 2016 - March 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.25 floor / $3.65 ceiling |
November 2016 - March 2017 |
|
80,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.25 floor / $3.95 ceiling |
November 2016 - March 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.60 floor / $3.25 ceiling |
January - June 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.85 floor / $3.35 ceiling |
January - December 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.80 floor / $3.47 ceiling |
January - December 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.00 floor / $3.35 ceiling |
April - December 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.80 floor / $3.35 ceiling |
April - December 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.75 floor / $3.35 ceiling |
Natural gas fixed price swaps |
|
|
|
|
|
|
October 2016 |
|
100,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.410 |
October 2016 - March 2017 |
|
25,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.200 |
November 2016 - April 2017 |
|
80,000 Mmbtu |
|
NYMEX Henry Hub |
|
$2.955 |
January - December 2017 |
|
25,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.100 |
April - December 2017 |
|
50,000 Mmbtu |
|
NYMEX Henry Hub |
|
$3.070 |
Oil costless collars |
|
|
|
|
|
|
July - December 2016 |
|
3,000 Bbls |
|
NYMEX WTI |
|
$35.00 floor / $49.00 ceiling |
October - December 2016 |
|
3,000 Bbls |
|
NYMEX WTI |
|
$40.00 floor / $47.25 ceiling |
October 2016 - March 2017 |
|
3,000 Bbls |
|
NYMEX WTI |
|
$40.00 floor / $58.50 ceiling |
October 2016 - March 2017 |
|
3,000 Bbls |
|
NYMEX WTI |
|
$45.00 floor / $54.00 ceiling |
October 2016 - March 2017 |
|
3,000 Bbls |
|
NYMEX WTI |
|
$45.00 floor / $55.50 ceiling |
|
Summary Of Derivative Contracts |
|
|
9/30/2016 |
|
|
9/30/2015 |
|
|
|
Fair Value (a) |
|
|
Fair Value (a) |
|
|
|
Commodity Contracts |
|
|
Commodity Contracts |
|
|
|
Current Assets |
|
|
Current Liabilities |
|
|
Non-Current
Assets |
|
|
Non-Current
Liabilities |
|
|
Current Assets |
|
Gross amounts recognized |
|
$ |
68,235 |
|
|
$ |
471,847 |
|
|
$ |
4,759 |
|
|
$ |
29,418 |
|
|
$ |
4,210,764 |
|
Offsetting adjustments |
|
|
(68,235 |
) |
|
|
(68,235 |
) |
|
|
(4,759 |
) |
|
|
(4,759 |
) |
|
|
- |
|
Net presentation on Balance Sheets |
|
$ |
- |
|
|
|
403,612 |
|
|
$ |
- |
|
|
|
24,659 |
|
|
$ |
4,210,764 |
|
|
(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, 2016 |
|
|
|
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 |
|
$ |
- |
|
|
$ |
(111,613 |
) |
|
$ |
- |
|
|
$ |
(111,613 |
) |
Derivative Contracts - Collars |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(316,658 |
) |
|
$ |
(316,658 |
) |
|
|
Fair Value Measurement at September 30, 2015 |
|
|
|
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 |
|
$ |
- |
|
|
$ |
2,319,515 |
|
|
$ |
- |
|
|
$ |
2,319,515 |
|
Derivative Contracts - Collars |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,891,249 |
|
|
$ |
1,891,249 |
|
|
Summary Of Unobservable Inputs For Level 3 Fair Value Measurements |
Instrument Type |
|
Unobservable Input |
|
Range |
|
Weighted Average |
|
|
Fair Value
Assets (Liabilities) September 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil Collars |
|
Oil price volatility curve |
|
0% - 25.87% |
|
|
15.06 |
% |
|
$ |
(99,005 |
) |
Natural Gas Collars |
|
Natural gas price volatility curve |
|
0% - 32.76% |
|
|
22.50 |
% |
|
$ |
(217,653 |
) |
|
Summary Of Reconciliation Of Derivative Contracts Classified As Level 3 Measurements |
|
|
Derivatives |
|
Net Asset (Liability) Balance of Level 3 as of October 1, 2015 |
|
$ |
1,891,249 |
|
Total gains or (losses): |
|
|
|
|
Included in earnings |
|
|
(4,200,367 |
) |
Included in other comprehensive income (loss) |
|
|
- |
|
Purchases, issuances and settlements |
|
|
1,992,460 |
|
Transfers in and out of Level 3 |
|
|
- |
|
Net Asset (Liability) Balance of Level 3 as of September 30, 2016 |
|
$ |
(316,658 |
) |
|
Summary Of Impairments Associated With Certain Assets Measured At Fair Value On A Nonrecurring Basis Within Level 3 |
|
|
Year Ended September 30, |
|
|
|
2016 |
|
|
2015 |
|
|
|
Fair Value |
|
|
Impairment |
|
|
Fair Value |
|
|
Impairment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Producing Properties (a) |
|
$ |
9,877,905 |
|
|
$ |
12,001,271 |
|
|
$ |
4,897,269 |
|
|
$ |
5,009,191 |
|
|
(a) |
At the end of each quarter, the Company assessed the carrying value of its producing properties for impairment. This assessment utilized estimates of future cash flows. Significant judgments and assumptions in these assessments include estimates of future oil, NGL and natural gas prices using a forward NYMEX curve adjusted for projected inflation, 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. |
|
Summary Of Asset Retirement Obligation |
|
|
2016 |
|
|
2015 |
|
Asset Retirement Obligations as of beginning of the year |
|
$ |
2,824,944 |
|
|
$ |
2,638,470 |
|
Accretion of Discount |
|
|
128,722 |
|
|
|
126,769 |
|
Wells Acquired or Drilled |
|
|
17,338 |
|
|
|
78,110 |
|
Wells Sold or Plugged |
|
|
(12,956 |
) |
|
|
(18,405 |
) |
Asset Retirement Obligations as of end of the year |
|
$ |
2,958,048 |
|
|
$ |
2,824,944 |
|
|