XML 46 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Condensed Statements Of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating Activities    
Net income (loss) $ 1,892,114 $ 12,735,940
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 2,955,701 3,813,686
Provision for deferred income taxes 658,000 4,314,000
Gain from leasing fee mineral acreage (523,384) (514,557)
Proceeds from leasing fee mineral acreage 537,777 528,374
Net (gain) loss on sales of assets (3,272,888) (9,096,938)
Directors' deferred compensation expense 86,213 80,287
Fair value of derivative contracts 1,719,667 (6,206,181)
Restricted stock awards 148,515 159,469
Other 8,896 7,163
Cash provided (used) by changes in assets and liabilities:    
Oil, NGL and natural gas sales receivables 56,160 (77,414)
Other current assets (407,610) (261,308)
Accounts payable (73,831) (2,971)
Income taxes receivable (412,073) (754,153)
Other non-current assets 1,090 28,899
Accrued liabilities (1,275,906) (744,553)
Total adjustments 206,327 (8,726,197)
Net cash provided by operating activities 2,098,441 4,009,743
Investing Activities    
Capital expenditures (105,265) (1,445,939)
Acquisition of minerals and overrides (10,172,594) (423,000)
Proceeds from sales of assets 3,376,049 9,096,938
Net cash provided (used) by investing activities (6,901,810) 7,227,999
Financing Activities    
Borrowings under debt agreement 4,774,297 3,832,557
Payments of loan principal (5,199,297) (13,332,557)
Purchases of treasury stock (7,635) (1,140,559)
Payments of dividends (655,980) (673,892)
Net cash provided (used) by financing activities (1,088,615) (11,314,451)
Increase (decrease) in cash and cash equivalents (5,891,984) (76,709)
Cash and cash equivalents at beginning of period 6,160,691 532,502
Cash and cash equivalents at end of period 268,707 455,793
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 663,919 673,897
Additions to asset retirement obligations 4 5,371
Gross additions to properties and equipment 10,164,680 1,894,741
Net (increase) decrease in accounts payable for properties and equipment additions 113,179 (25,802)
Capital expenditures and acquisitions $ 10,277,859 $ 1,868,939