Subsequent Events

6 Months Ended

Mar. 31, 2022

NOTE 12: Subsequent Events

Derivative Contracts

Subsequent to March 31, 2022, the Company entered into new derivative contracts as summarized in the table below:

	Contract
Contract period	total volume	Index	Contract price
Natural gas costless collars
January 2023 - March 2023	180,000 Mmbtu	NYMEX Henry Hub	$6.00 floor / $13.00 ceiling
July 2022 - March 2023	315,000 Mmbtu	NYMEX Henry Hub	$6.00 floor / $12.40 ceiling
Oil costless collars
January 2023 - June 2023	15,000 Bbls	NYMEX WTI	$75.00 floor / $96.00 ceiling

Borrowings

Subsequent to March 31, 2022, the Company borrowed $4.3 million under its Credit Facility to fund the acquisition expected to close by the end of May discussed below.

Acquisitions

Subsequent to March 31, 2022, the Company closed on an additional acquisition of 185 net royalty acres located in the SCOOP play of Oklahoma and the Haynesville play of Louisiana for approximately $1.5 million in cash, and the Company has an additional 983 net royalty acres pending acquisition and under purchase and sale agreements, which are expected to close by the end of May 2022 for approximately $9.4 million in cash.