XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Statements Of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating Activities    
Net income (loss) $ 12,735,940 $ 13,784,939
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 3,813,686 5,275,824
Provision for deferred income taxes 4,314,000 (12,738,000)
Gain from leasing fee mineral acreage (514,557) (96,843)
Proceeds from leasing fee mineral acreage 528,374 98,692
Net (gain) loss on sales of assets (9,096,938) 272,236
Directors' deferred compensation expense 80,287 108,384
Fair value of derivative contracts (6,206,181) 851,036
Restricted stock awards 159,469 194,050
Other 7,163 (3,237)
Cash provided (used) by changes in assets and liabilities:    
Oil, NGL and natural gas sales receivables (77,414) 229,701
Other current assets (261,308) (59,253)
Accounts payable (2,971) (86,404)
Income taxes receivable (754,153) 24,574
Other non-current assets 28,899 (79,552)
Accrued liabilities (744,553) (577,564)
Total adjustments (8,726,197) (6,586,356)
Net cash provided by operating activities 4,009,743 7,198,583
Investing Activities    
Capital expenditures (1,445,939) (4,984,880)
Acquisition of minerals and overrides (423,000)  
Investments in partnerships   5,393
Proceeds from sales of assets 9,096,938 557,750
Net cash provided (used) by investing activities 7,227,999 (4,421,737)
Financing Activities    
Borrowings under debt agreement 3,832,557 8,272,575
Payments of loan principal (13,332,557) (10,094,795)
Purchases of treasury stock (1,140,559) (272,100)
Payments of dividends (673,892) (671,890)
Net cash provided (used) by financing activities (11,314,451) (2,766,210)
Increase (decrease) in cash and cash equivalents (76,709) 10,636
Cash and cash equivalents at beginning of period 532,502 557,791
Cash and cash equivalents at end of period 455,793 568,427
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 673,897 675,718
Additions to asset retirement obligations 5,371 12,026
Gross additions to properties and equipment 1,894,741 4,287,096
Net (increase) decrease in accounts payable for properties and equipment additions (25,802) 697,784
Capital expenditures and acquisitions $ 1,868,939 $ 4,984,880