XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Statements Of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net income (loss) $ (1,096,443) $ (18,562,700)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 4,038,466 6,329,219
Impairment of producing properties   29,545,702
Provision for deferred income taxes (288,000) (4,711,000)
Gain from leasing fee mineral acreage (57,493) (544,979)
Proceeds from leasing fee mineral acreage 64,047 559,462
Net (gain) loss on sales of assets (62,097) (3,265,449)
Directors' deferred compensation expense 100,254 140,130
Total (gain) loss on derivative contracts 2,602,179 (3,253,683)
Cash receipts (payments) on settled derivative contracts 315,883 1,530,912
Restricted stock awards 284,148 491,616
Other 31,544 7,225
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables (1,732,801) 1,168,943
Other current assets (388,864) (232,349)
Accounts payable (340,404) 117,561
Income taxes receivable 1,356,356 (2,072,428)
Other non-current assets 56,545 50,010
Accrued liabilities (206,213) (1,189,850)
Total adjustments 5,773,550 24,671,042
Net cash provided by operating activities 4,677,107 6,108,342
Investing Activities    
Capital expenditures (425,098) (139,755)
Acquisition of minerals and overrides (7,934,504) (10,254,016)
Proceeds from sales of assets 21,000 3,376,049
Net cash provided (used) by investing activities (8,338,602) (7,017,722)
Financing Activities    
Borrowings under Credit Facility   5,561,725
Payments of loan principal (5,250,000) (8,986,725)
Net proceeds from equity issuance (53,482)  
Purchases of treasury stock   (7,635)
Payments of dividends (454,936) (1,319,899)
Net cash provided (used) by financing activities (5,758,418) (4,752,534)
Increase (decrease) in cash and cash equivalents (9,419,913) (5,661,914)
Cash and cash equivalents at beginning of period 10,690,395 6,160,691
Cash and cash equivalents at end of period 1,270,482 498,777
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 289,997  
Additions to asset retirement obligations   4
Gross additions to properties and equipment 8,759,616 10,229,121
Equity offering used for acquisitions (250,000)  
Net (increase) decrease in accounts payable for properties and equipment additions (150,014) 164,650
Capital expenditures and acquisitions $ 8,359,602 $ 10,393,771