Derivatives (Tables)

3 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary Of Derivative Instruments Contracts

Derivative contracts in place as of December 31, 2020

Contract period (Calendar Year)	Contract total volume	Index	Contract average price
Natural gas costless collars
2021	2,924,500 Mmbtu	NYMEX Henry Hub	$2.33 floor / $3.03 ceiling
2022	1,402,500 Mmbtu	NYMEX Henry Hub	$2.47 floor / $3.14 ceiling
Natural gas fixed price swaps
2021	1,014,500 Mmbtu	NYMEX Henry Hub	$2.69
2022	125,500 Mmbtu	NYMEX Henry Hub	$2.70
Oil costless collars
2021	51,000 Bbls	NYMEX WTI	$36.74 floor / $44.79 ceiling
2022	23,500 Bbls	NYMEX WTI	$36.89 floor / $45.73 ceiling
Oil fixed price swaps
2021	96,000 Bbls	NYMEX WTI	$37.00
2022	59,000 Bbls	NYMEX WTI	$41.51

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

Summary of Gain or Loss on Derivative Contracts, Net

Cash receipts in the following table reflect the gain or loss on derivative contracts which settled during the respective periods, and the non-cash gain or loss reflect the change in fair value of derivative contracts as of the end of the respective periods

	Three Months Ended
	December 31,
	2020			2019
Cash received (paid) on derivative contracts:
Natural gas costless collars	$	(8,967	)	$	-
Natural gas fixed price swaps		(1,863	)		719,800
Oil costless collars		88,944			113,699
Oil fixed price swaps		535,200			68,274
Cash received (paid) on derivative contracts, net	$	613,314		$	901,773
Non-cash gain (loss) on derivative contracts:
Natural gas costless collars	$	678,961		$	5,900
Natural gas fixed price swaps		288,887			(571,809	)
Oil costless collars		(410,886	)		(480,456	)
Oil fixed price swaps		(1,424,312	)		(673,302	)
Non-cash gain (loss) on derivative contracts, net	$	(867,350	)	$	(1,719,667	)
Gains (losses) on derivative contracts, net	$	(254,036	)	$	(817,894	)

Summary Of Derivative Contracts

	December 31, 2020												September 30, 2020
	Fair Value (a)												Fair Value (a)
	Commodity Contracts												Commodity Contracts
	Current Assets			Current Liabilities			Non-Current Assets			Non-Current Liabilities			Current Assets			Current Liabilities			Non-Current Liabilities
Gross amounts recognized	$	201,842		$	1,391,119		$	93,019		$	478,739		$	864,466		$	1,146,408		$	425,705
Offsetting adjustments		(201,842	)		(201,842	)		(93,019	)		(93,019	)		(864,466	)		(864,466	)		-
Net presentation on Condensed Balance Sheets	$	-		$	1,189,277		$	-		$	385,720		$	-		$	281,942		$	425,705

(a) See Note 11: Fair Value Measurements for further disclosures regarding fair value of financial instruments.