Long-Term Debt	9 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 5: Long-Term Debt The Company has a $200,000,000 credit facility with a syndicate of banks led by Bank of Oklahoma (“BOKF”), which had a borrowing base of $28,500,000 as of June 30, 2021 (as amended, the “Credit Facility”). The Credit Facility matures on November 30, 2023. The Credit Facility is subject to at least semi-annual borrowing base determinations, wherein BOKF applies its commodity pricing forecast to the Company’s reserve forecast and determines a borrowing base. The Credit Facility is secured by all of the Company’s producing oil and gas properties. The interest rate is based on BOKF prime plus from 1.00% to 1.75%, or 30-day LIBOR plus from 2.50% to 3.25%. The election of BOKF prime or LIBOR is at the Company’s discretion. The interest rate spread from BOKF prime or LIBOR will be charged based on the ratio of the loan balance to the borrowing base. The interest rate spread from LIBOR or the prime rate increases as the ratio of loan balance to the borrowing base increases. At June 30, 2021, the effective interest rate was 4.00%. The Company’s debt is recorded at the carrying amount on its balance sheets. The carrying amount of the Credit Facility approximates fair value because the interest rates are reflective of market rates. Debt issuance costs associated with the Credit Facility are presented in Other, net on the Company’s balance sheets. Total debt issuance cost, net of amortization as of June 30, 2021 was $252,001. The debt issuance cost is amortized over the life of the Credit Facility. On April 7, 2021, the Company entered into the ninth amendment to the Credit Facility. The amendment, among other things, reduced the Company’s borrowing base under the Credit Facility to $29.0 million, extended the maturity date by one year to November 30, 2023, and reduced the Quarterly Commitment Reductions from $600,000 to $500,000, commencing on April 15, 2021. Additionally, the amendment increased the Company’s distribution allowance from $1.0 million to $1.5 million per annum for a period of one year from the date of the amendment and extended this allowance beyond the date that is one year following the date of the amendment so long as (i) the Available Commitment is greater than or equal to 20% of the Total Commitment and (ii) the Leverage Ratio on a pro forma basis does not exceed 2.75 to 1.00. The existing prohibition of all Restricted Payments other than the subject distribution allowance and the existing requirement that immediately after giving effect to a permitted Restricted Payment, no Default or Event of Default may exist or result therefrom remain in effect. The Credit Facility contains customary covenants which, among other things, require periodic financial and reserve reporting and place certain limits on the Company’s incurrence of indebtedness, liens, payment of dividends and acquisitions of stock. In addition, the Company is required to maintain certain financial ratios, a current ratio (as defined in the Credit Facility) of no less than 1.0 to 1.0 and a funded debt to EBITDA ratio (as defined in the Credit Facility) of no more than 3.5 to 1.0 based on the trailing twelve months. Pursuant to the Credit Facility, the Company is also required to enter into and maintain certain Swap Agreements for a period of eighteen (18) months fixing prices on oil or gas expected to be produced. At June 30, 2021, the Company was in compliance with the covenants of the Credit Facility, had $19,900,000 outstanding under the Credit Facility, and had $8,600,000 of borrowing base availability under the Credit Facility. The capitalized terms that are not defined in this description of the Credit Facility, including the description of the ninth amendment, have the meaning given to such terms in the Credit Facility.

Long-Term Debt

9 Months Ended

Jun. 30, 2021

NOTE 5: Long-Term Debt

The Company has a $200,000,000 credit facility with a syndicate of banks led by Bank of Oklahoma (“BOKF”), which had a borrowing base of $28,500,000 as of June 30, 2021 (as amended, the “Credit Facility”). The Credit Facility matures on November 30, 2023. The Credit Facility is subject to at least semi-annual borrowing base determinations, wherein BOKF applies its commodity pricing forecast to the Company’s reserve forecast and determines a borrowing base. The Credit Facility is secured by all of the Company’s producing oil and gas properties. The interest rate is based on BOKF prime plus from 1.00% to 1.75%, or 30-day LIBOR plus from 2.50% to 3.25%. The election of BOKF prime or LIBOR is at the Company’s discretion. The interest rate spread from BOKF prime or LIBOR will be charged based on the ratio of the loan balance to the borrowing base. The interest rate spread from LIBOR or the prime rate increases as the ratio of loan balance to the borrowing base increases. At June 30, 2021, the effective interest rate was 4.00%.

The Company’s debt is recorded at the carrying amount on its balance sheets. The carrying amount of the Credit Facility approximates fair value because the interest rates are reflective of market rates. Debt issuance costs associated with the Credit Facility are presented in Other, net on the Company’s balance sheets. Total debt issuance cost, net of amortization as of June 30, 2021 was $252,001. The debt issuance cost is amortized over the life of the Credit Facility.

On April 7, 2021, the Company entered into the ninth amendment to the Credit Facility. The amendment, among other things, reduced the Company’s borrowing base under the Credit Facility to $29.0 million, extended the maturity date by one year to November 30, 2023, and reduced the Quarterly Commitment Reductions from $600,000 to $500,000, commencing on April 15, 2021. Additionally, the amendment increased the Company’s distribution allowance from $1.0 million to $1.5 million per annum for a period of one year from the date of the amendment and extended this allowance beyond the date that is one year following the date of the amendment so long as (i) the Available Commitment is greater than or equal to 20% of the Total Commitment and (ii) the Leverage Ratio on a pro forma basis does not exceed 2.75 to 1.00. The existing prohibition of all Restricted Payments other than the subject distribution allowance and the existing requirement that immediately after giving effect to a permitted Restricted Payment, no Default or Event of Default may exist or result therefrom remain in effect.

The Credit Facility contains customary covenants which, among other things, require periodic financial and reserve reporting and place certain limits on the Company’s incurrence of indebtedness, liens, payment of dividends and acquisitions of stock. In addition, the Company is required to maintain certain financial ratios, a current ratio (as defined in the Credit Facility) of no less than 1.0 to 1.0 and a funded debt to EBITDA ratio (as defined in the Credit Facility) of no more than 3.5 to 1.0 based on the trailing twelve months. Pursuant to the Credit Facility, the Company is also required to enter into and maintain certain Swap Agreements for a period of eighteen (18) months fixing prices on oil or gas expected to be produced. At June 30, 2021, the Company was in compliance with the covenants of the Credit Facility, had $19,900,000 outstanding under the Credit Facility, and had $8,600,000 of borrowing base

availability under the Credit Facility. The capitalized terms that are not defined in this description of the Credit Facility, including the description of the ninth amendment, have the meaning given to such terms in the Credit Facility.