Impairments of Oil and Natural Gas Properties	9 Months Ended
Dec. 31, 2016
Extractive Industries [Abstract]
Impairments of Oil and Natural Gas Properties	10. Impairments of Oil and Natural Gas Properties Our oil and natural gas properties are subject to quarterly full cost ceiling tests. Under the ceiling test, capitalized costs, less accumulated amortization and related deferred income taxes, may not exceed an amount equal to the sum of the present value of estimated future net revenues (adjusted for cash flow hedges) less estimated future expenditures to be incurred in developing and producing the proved reserves, less any related income tax effects. Estimated future net revenues for the quarterly ceiling limit are calculated using the average of commodity prices on the first day of the month over the trailing 12-month period. In the three and nine months ended December 31, 2015, capitalized costs of oil and natural gas properties exceeded the ceiling, resulting in an impairment in the carrying value of our oil and natural gas properties of approximately $2,150,621 and $2,984,410, respectively. We did not have an impairment in the carrying amount of our oil and natural gas properties for the nine months ended December 31, 2016.

Impairments of Oil and Natural Gas Properties

9 Months Ended

Dec. 31, 2016

Impairments of Oil and Natural Gas Properties

10. Impairments of Oil and Natural Gas Properties

Our oil and natural gas properties are subject to quarterly full cost ceiling tests. Under the ceiling test, capitalized costs, less accumulated amortization and related deferred income taxes, may not exceed an amount equal to the sum of the present value of estimated future net revenues (adjusted for cash flow hedges) less estimated future expenditures to be incurred in developing and producing the proved reserves, less any related income tax effects. Estimated future net revenues for the quarterly ceiling limit are calculated using the average of commodity prices on the first day of the month over the trailing 12-month period. In the three and nine months ended December 31, 2015, capitalized costs of oil and natural gas properties exceeded the ceiling, resulting in an impairment in the carrying value of our oil and natural gas properties of approximately $2,150,621 and $2,984,410, respectively. We did not have an impairment in the carrying amount of our oil and natural gas properties for the nine months ended December 31, 2016.