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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of the Company's consolidated provision for income taxes from continuing operations are as follows:
| September 30,
| 2021 |  | 2020
| (In thousands)
Current income tax expense: |  |  |
Federal | $ | 2 |  |  | $ | — |
State | 52 |  |  | — |
Total current income tax expense | 54 |  |  | — |
Deferred income tax expense: |  |  |
Federal | 14,202 |  |  | — |
State | (1,240) |  |  | 718 |
Total deferred income tax expense | 12,962 |  |  | 718 |
Total income tax expense | $ | 13,016 |  |  | $ | 718 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities are the result of temporary differences between the financial statement carrying values and the tax bases of assets and liabilities. The Company's net deferred tax position is as follows:
| September 30,
| 2021 |  | 2020
| (In thousands)
Deferred tax assets |  |  |
Unrealized gain on derivatives | $ | 11,006 |  |  | $ | — |
Intangibles | 222 |  |  | — |
Inventory | 23 |  |  | — |
Share-based compensation | 480 |  |  | — |
Accruals and other | 578 |  |  | — |
Net operating loss | 5,422 |  |  | — |
Total deferred tax assets | 17,731 |  |  | — |
Oil and gas assets | (29,161) |  |  | (1,669) |
Other fixed assets | (198) |  |  | — |
Unrealized gain on derivatives | — |  |  | (165) |
Total deferred tax liabilities | (29,359) |  |  | (1,834) |
Net deferred tax liabilities | $ | (11,628) |  |  | $ | (1,834) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:
| September 30,
| 2021 |  | 2020
Tax at statutory rate | 21.0 | % |  | 21.0 | %
Nondeductible compensation | (1.0) | % |  | — | %
Transaction costs | (1.5) | % |  | — | %
Stock compensation | (0.1) | % |  | — | %
State income taxes, net of federal benefit | 0.4 | % |  | 2.0 | %
Change in tax status | (40.1) | % |  | — | %
Income subject to taxation by REP LLC's unitholders | (17.1) | % |  | (21.0) | %
Effective income tax rate | (38.4) | % |  | 2.0 | %

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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