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Condensed Balance Sheets - USD ($)
Dec. 31, 2018
Sep. 30, 2018
Current assets:    
Cash and cash equivalents $ 455,793 $ 532,502
Oil, NGL and natural gas sales receivables (net of allowance for uncollectable accounts) 7,179,043 7,101,629
Refundable income taxes 787,318 33,165
Derivative contracts, net [1] 2,469,628  
Other 840,188 578,880
Total current assets 11,731,970 8,246,176
Properties and equipment at cost, based on successful efforts accounting:    
Producing oil and natural gas properties 429,269,321 427,448,584
Non-producing oil and natural gas properties 12,525,688 12,563,519
Other 1,606,536 1,529,770
Gross properties and equipment, at cost, based on successful efforts accounting 443,401,545 441,541,873
Less accumulated depreciation, depletion and amortization (247,016,105) (243,257,472)
Net properties and equipment 196,385,440 198,284,401
Investments 187,575 219,109
Derivative contracts, net [1] 322,537  
Total assets 208,627,522 206,749,686
Current liabilities:    
Accounts payable 903,962 881,130
Derivative contracts, net [1]   3,064,046
Accrued liabilities and other 1,723,204 1,791,950
Total current liabilities 2,627,166 5,737,126
Long-term debt 41,500,000 51,000,000
Deferred income taxes, net 22,402,007 18,088,007
Asset retirement obligations 2,845,636 2,809,378
Derivative contracts, net [1]   349,970
Stockholders' equity:    
Class A voting common stock, $.0166 par value; 24,000,000 shares authorized, 16,897,306 issued at December 31, 2018, and 16,896,881 issued at September 30, 2018 281,509 281,502
Capital in excess of par value 2,824,283 2,824,691
Deferred directors' compensation 3,030,700 2,950,405
Retained earnings 136,655,096 125,266,945
Stockholders' Equity 142,791,588 131,323,543
Less treasury stock, at cost; 210,730 shares at December 31, 2018, and 145,467 shares at September 30, 2018 (3,538,875) (2,558,338)
Total stockholders' equity 139,252,713 128,765,205
Total liabilities and stockholders' equity $ 208,627,522 $ 206,749,686
[1] See Fair Value Measurements section for further disclosures regarding fair value of financial instruments.