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Condensed Balance Sheets - USD ($)
Mar. 31, 2022
Sep. 30, 2021
Current assets:    
Cash and cash equivalents $ 1,703,675 $ 2,438,511
Natural gas, oil, and NGL sales receivables (net of $0 allowance for uncollectable accounts) 9,451,366 6,428,982
Refundable income taxes   2,413,942
Other 1,188,312 942,082
Total current assets 12,343,353 12,223,517
Properties and equipment at cost, based on successful efforts accounting:    
Producing natural gas and oil properties 264,135,242 319,984,874
Non-producing natural gas and oil properties 48,878,130 40,466,098
Other 844,582 794,179
Gross properties and equipment, at cost, based on successful efforts accounting 313,857,954 361,245,151
Less accumulated depreciation, depletion and amortization (196,960,903) (257,643,661)
Net properties and equipment 116,897,051 103,601,490
Operating lease right-of-use assets 564,034 607,414
Other, net 537,199 578,593
Total assets 130,341,637 117,011,014
Current liabilities:    
Accounts payable 602,415 772,717
Derivative contracts, net [1] 14,793,396 12,087,988
Income taxes payable 253,733 334,050
Current portion of operating lease liability 134,955 132,287
Accrued liabilities and other 1,506,836 1,809,337
Total current liabilities 17,291,335 15,136,379
Long-term debt 24,000,000 17,500,000
Deferred income taxes, net 370,906 343,906
Asset retirement obligations 2,178,023 2,836,172
Derivative contracts, net [1] 1,031,639 1,696,479
Operating lease liability, net of current portion 721,188 789,339
Total liabilities 45,593,091 38,302,275
Stockholders' equity:    
Common Stock, $0.01666 par value; 54,000,500 shares authorized and 34,469,449 issued at March 31, 2022; 36,000,500 shares authorized and 32,770,433 issued at September 30, 2021 574,261 545,956
Capital in excess of par value 37,596,944 33,213,645
Deferred directors' compensation 1,407,423 1,768,151
Retained earnings 50,778,525 48,966,420
Stockholders' Equity 90,357,153 84,494,172
Less treasury stock, at cost; 377,232 shares at March 31, 2022, and 388,545 shares at September 30, 2021 (5,608,607) (5,785,433)
Total stockholders' equity 84,748,546 78,708,739
Total liabilities and stockholders' equity $ 130,341,637 $ 117,011,014
[1] See Note 10: Fair Value Measurements for further disclosures regarding fair value of financial instruments.