Properties And Equipment (Tables)

9 Months Ended

Jun. 30, 2022

Property Plant And Equipment [Abstract]

Summary of Properties and Equipment and Related Accumulated DD&A

Properties and equipment and related accumulated DD&A as of June 30, 2022 and September 30, 2021 are as follows:

	June 30, 2022			September 30, 2021
Properties and equipment at cost, based on successful efforts accounting:
Producing natural gas and oil properties	$	265,800,998		$	319,984,874
Non-producing natural gas and oil properties		50,204,756			40,466,098
Other property and equipment		972,770			794,179
		316,978,524			361,245,151
Less accumulated depreciation, depletion and amortization		(193,551,159	)		(257,643,661	)
Net properties and equipment	$	123,427,365		$	103,601,490

Schedule of Property Acquisitions

The Company made the following property acquisitions during the nine-month periods ended June 30, 2022 and 2021.

Quarter Ended (4)	Net royalty acres (1)(2)		Cash	Number of shares (3)		Total Purchase Price (1)	Area of Interest
June 30, 2022
		60	$0.6 million	-		$0.6 million	SCOOP / OK
		46	$0.8 million	-		$0.8 million	Haynesville / LA
		56	$0.4 million	-		$0.4 million	Haynesville / LA
		88	$0.9 million	-		$0.9 million	SCOOP / OK
		503	$5.0 million	-		$5.0 million	Haynesville / LA, TX
		92	$0.6 million	-		$0.6 million	Haynesville / LA
		25	$0.3 million	-		$0.3 million	Haynesville / LA
		68	$0.5 million	-		$0.5 million	SCOOP / OK
March 31, 2022
		58	$0.5 million	-		$0.5 million	SCOOP / OK
		500	$6.4 million	-		$6.4 million	Haynesville / LA
		68	$0.7 million	-		$0.7 million	Haynesville / TX
		166	$1.3 million	-		$1.3 million	SCOOP / OK
		33	$0.4 million	-		$0.4 million	Haynesville / TX
December 31, 2021
		426	$5.8 million	-		$5.8 million	Haynesville / LA
		847	$0.6 million		1,519,481	$4.1 million	Haynesville / LA
		172	$1.4 million	-		$1.4 million	SCOOP / OK
		103	$0.6 million	-		$0.6 million	Haynesville / TX
		116	$1.7 million	-		$1.7 million	Haynesville / LA
		220	$1.2 million	-		$1.2 million	SCOOP / OK
June 30, 2021
		262	$1.3 million	-		$1.3 million	Haynesville / LA
		131	$1.0 million	-		$1.0 million	Haynesville / TX
		2,514	$9.5 million		1,200,000	$13.0 million	SCOOP / OK
March 31, 2021
	No significant acquisitions
December 31, 2020
		142	$1.0 million	-		$1.0 million	Haynesville / TX
		184	$0.8 million	-		$0.8 million	Haynesville / TX
		386	$3.5 million	-		$3.5 million	Haynesville / TX
		297	$2.0 million		153,375	$2.3 million	SCOOP / OK
(1) Excludes subsequent closing adjustments and insignificant acquisitions.
(2) An estimated net royalty equivalent was used for the minerals included in the net royalty acres.
(3) The Company’s policy is to classify all costs associated with equity issuances as financial costs in the Statements of Cash Flows.
(4) Presented in chronological order with most recent at top.

Summary of Property Divestitures

The Company made the following property divestitures during the nine-month periods ended June 30, 2022 and 2021.

Quarter Ended(3)	Net mineral acres(1)/ Wellbores(2)	Sale Price	Gain/(Loss)	Location
June 30, 2022
	43 acres	$0.1 million	$0.1 million	TX
	9 wellbores	$0.3 million	$0.1 million	OK
	83 acres	$0.1 million	$0.1 million	OK
	16 wellbores	$0.1 million	$ -	OK
	2 wellbores	$0.1 million	$0.1 million	OK
	2,255 acres	$0.3 million	$0.3 million	AR / OK / TX
March 31, 2022
	7,071 acres	$1.6 million	$1.6 million	NM / TX
	130 acres	$0.5 million	$0.5 million	TX
December 31, 2021
	98 wellbores	$2.0 million	($3.5) million	OK
	95 wellbores	$0.5 million	$0.2 million	OK / TX
	499 wellbores	$2.1 million	$1.1 million	AR
June 30, 2021
	2,857 acres	$0.3 million	$0.2 million	Central Basin Platform, TX
March 31, 2021
	No significant divestitures
December 31, 2020
	No significant divestitures
(1) Number of net mineral acres sold.
(2) Number of wellbores associated with working interests sold.
(3) Excludes immaterial divestitures.