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Discontinued Operations and Assets Held For Sale | 6 Months Ended
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Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Assets Held For Sale | Discontinued Operations and Assets Held For Sale Kansas Reporting Unit On March 10, 2021, the Company entered into a PSA to divest of the Kansas Reporting Unit for an agreed upon purchase price of $3.5 million before certain closing adjustments. In addition, the Company also agreed to assign to the buyer its lease associated with Tengasco's former corporate office in Greenwood Village, Colorado. With Tengasco qualifying as a business and the Kansas Reporting Unit making up a significant portion of the assets of Tengasco, the Company concluded that the transaction met the requirements of assets held for sale and discontinued operations upon the acquisition date. The sale closed on April 2, 2021 for an adjusted purchase price of $3.3 million, after customary closing adjustments. The following table presents the components of the loss on discontinued operations reported in the condensed consolidated statement of operations for the three months ended March 31, 2021 (in thousands):
Oil and natural gas sales | $ | — |
Total revenues | — |
Lease operating expenses | 115 |
Goodwill impairment | 18,516 |
Total expenses | 18,631 |
Loss from discontinued operations before income taxes | (18,631) |
Income tax benefit | 25 |
Net loss from discontinued operations, net of tax | $ | (18,606) |
The Company did not have any discontinued operations during the three months ended December 31, 2020 or for the three and six months ended March 31, 2022.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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