XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Statements Of Cash Flows - USD ($)
9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income (loss) $ (2,453,037) $ (22,117,915)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 6,176,173 8,793,787
Impairment of producing properties 45,855 29,904,528
Provision for deferred income taxes (1,117,000) (6,158,000)
Gain from leasing fee mineral acreage (316,541) (567,975)
Proceeds from leasing fee mineral acreage 334,938 582,458
Net (gain) loss on sales of assets (136,596) (3,258,994)
Directors' deferred compensation expense 167,425 184,188
Total (gain) loss on derivative contracts 8,089,662 (2,415,401)
Cash receipts (payments) on settled derivative contracts (688,807) 3,230,034
Restricted stock awards 542,674 619,812
Other 72,126 3,718
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables (2,134,395) 2,194,430
Other current assets (89,957) (121,635)
Accounts payable 209,014 31,755
Income taxes receivable 1,425,471 (134,908)
Other non-current assets 87,065 6,544
Accrued liabilities 26,263 (950,686)
Total adjustments 12,693,370 31,943,655
Net cash provided by operating activities 10,240,333 9,825,740
Investing Activities    
Capital expenditures (696,759) (196,168)
Acquisition of minerals and overriding royalty interests (19,337,265) (10,304,016)
Proceeds from sales of assets 533,371 3,457,500
Net cash provided (used) by investing activities (19,500,653) (7,042,684)
Financing Activities    
Borrowings under Credit Facility   6,061,725
Payments of loan principal (8,850,000) (11,486,725)
Net proceeds from equity issuance 11,088,858  
Purchases of treasury stock (2,741) (7,635)
Payments of dividends (757,692) (1,486,031)
Net cash provided (used) by financing activities 1,478,425 (6,918,666)
Increase (decrease) in cash and cash equivalents (7,781,895) (4,135,610)
Cash and cash equivalents at beginning of period 10,690,395 6,160,691
Cash and cash equivalents at end of period 2,908,500 2,025,081
Supplemental Schedule of Noncash Investing and Financing Activities:    
Additions to asset retirement obligations   4
Gross additions to properties and equipment 23,794,178 10,335,534
Equity offering used for acquisitions (3,718,000)  
Net (increase) decrease in accounts payable for properties and equipment additions (42,154) 164,650
Capital expenditures and acquisitions $ 20,034,024 $ 10,500,184