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Condensed Balance Sheets - USD ($)
Dec. 31, 2019
Sep. 30, 2019
Current assets:    
Cash and cash equivalents $ 268,707 $ 6,160,691
Oil, NGL and natural gas sales receivables (net of allowance for uncollectable accounts) 4,321,486 4,377,646
Refundable income taxes 1,917,515 1,505,442
Derivative contracts, net [1] 774,106 2,256,639
Other 776,672 177,037
Total current assets 8,058,486 14,477,455
Properties and equipment at cost, based on successful efforts accounting:    
Producing oil and natural gas properties 358,110,146 354,718,398
Non-producing oil and natural gas properties 19,131,441 14,599,023
Other 1,731,037 1,722,080
Gross properties and equipment, at cost, based on successful efforts accounting 378,972,624 371,039,501
Less accumulated depreciation, depletion and amortization (260,155,491) (259,314,590)
Net properties and equipment 118,817,133 111,724,911
Investments 202,172 205,076
Derivative contracts, net [1] 371 237,505
Total assets 127,078,162 126,644,947
Current liabilities:    
Accounts payable 670,175 665,160
Accrued liabilities and other 1,824,408 2,433,466
Total current liabilities 2,494,583 3,098,626
Long-term debt 35,000,000 35,425,000
Deferred income taxes, net 6,634,007 5,976,007
Asset retirement obligations 2,840,639 2,835,781
Stockholders' equity:    
Class A voting common stock, $0.01666 par value; 24,000,000 shares authorized; 16,897,306 issued at December 31, 2019, and at September 30, 2019 281,509 281,509
Capital in excess of par value 3,033,678 2,967,984
Deferred directors' compensation 2,641,993 2,555,781
Retained earnings 82,420,516 81,848,301
Stockholders' Equity 88,377,696 87,653,575
Less treasury stock, at cost; 553,137 shares at December 31, 2019, and 558,051 shares at September 30, 2019 (8,268,763) (8,344,042)
Total stockholders' equity 80,108,933 79,309,533
Total liabilities and stockholders' equity $ 127,078,162 $ 126,644,947
[1] See Fair Value Measurements section for further disclosures regarding fair value of financial instruments.