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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Schedule of Accounts Receivable

Accounts receivable is summarized below:

			June 30, 2022						September 30, 2021
			(In thousands)
Oil, natural gas and NGL sales			$	31,783					$	17,008
Joint interest accounts receivable			470						413
Other accounts receivable			568						52
Total accounts receivable			$	32,821					$	17,473

Schedule of Other Non-current Assets, Net

Other non-current assets consisted of the following:

			June 30, 2022						September 30, 2021
			(In thousands)
Deferred financing costs, net			$	2,687					$	1,353
Prepayments to outside operators			450						707
Right of use assets			1,614						309
Other deposits			63						50
Total other non-current assets, net			$	4,814					$	2,419

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following:

			June 30, 2022						September 30, 2021
			(In thousands)
Accrued capital expenditures			$	9,079					$	9,718
Accrued lease operating expenses			3,207						2,428
Accrued general and administrative costs			3,262						3,575
Other accrued expenditures			3,068						2,834
Total accrued liabilities			$	18,616					$	18,555

Schedule of Asset Retirement Obligations

Components of the changes in ARO for the nine months ended June 30, 2022 and year ended September 30, 2021 are shown below:

			June 30, 2022						September 30, 2021
			(In thousands)
ARO, beginning balance			$	2,434					$	2,326
Liabilities incurred			136						113
Liability settlements and disposals			(174)						(92)
Accretion			60						87
ARO, ending balance			2,456						2,434
Less: current ARO(1)			(245)						(128)
ARO, long-term			$	2,211					$	2,306

_____________________

(1)Current ARO is included within other current liabilities on the accompanying condensed consolidated balance sheets.

Disaggregation of Revenue

The following table presents oil and natural gas sales disaggregated by product:

			Three Months Ended June 30,												Nine Months Ended June 30,
			2022						2021						2022						2021
			(In thousands)
Oil and natural gas sales:
Oil			$	82,501					$	39,504					$	195,500					$	92,395
Natural gas			2,850						957						7,344						5,592
Natural gas liquids			2,430						1,088						8,232						2,635
Total oil and natural gas sales, net			$	87,781					$	41,549					$	211,076					$	100,622

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-Name Accounting Standards Codification
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