Subsequent Events

3 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

NOTE 13: Subsequent Events

Derivative Contracts

Subsequent to December 31, 2020, the Company entered into new derivative contracts as summarized in the table below:

	Production volume
Contract period	covered per month	Index	Contract price
Natural gas costless collars
January - December 2022	45,000 Mmbtu	NYMEX Henry Hub	$2.30 floor / $3.15 ceiling
Natural gas fixed price swaps
March - December 2021	50,000 Mmbtu	NYMEX Henry Hub	$2.97
Oil costless collars
January - December 2022	3,000 Bbls	NYMEX WTI	$40.00 floor / $52.15 ceiling
Oil fixed price swaps
August - December 2021	3,000 Bbls	NYMEX WTI	$50.74

Debt Payment

Subsequent to December 31, 2020, the Company paid down an additional $1,000,000 under the Credit Facility, bringing the total outstanding debt balance to $26,000,000, as of February 1, 2021.