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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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:

			Year Ended December 31, 2022						Three Months Ended December 31, 2021						Year Ended September 30, 2021
			(In thousands)
Current income tax expense:
Federal			$	4,026					$	—					$	2
State			446						113						52
Total current income tax expense			$	4,472					$	113					$	54
Deferred income tax expense (benefit):
Federal			$	27,393					$	5,669					$	14,202
State			979						87						(1,240)
Total deferred income tax expense (benefit)			$	28,372					$	5,756					$	12,962
Total income tax expense (benefit)			$	32,844					$	5,869					$	13,016

Schedule of Deferred Tax Assets and Liabilities

The Company's net deferred tax position is as follows:

			Year Ended December 31, 2022						Three Months Ended December 31, 2021						Year Ended September 30, 2021
			(In thousands)
Deferred tax assets
Non-cash gain on derivatives			$	3,563					$	10,286					$	11,006
Intangibles			182						215						222
Inventory			—						23						23
Share-based compensation			421						690						480
Accruals and other			484						558						578
Net operating loss			2,812						3,172						5,422
Total deferred tax assets			7,462						14,944						17,731
Oil and natural gas assets			(52,665)						(32,154)						(29,161)
Other fixed assets			(553)						(174)						(198)
Total deferred tax liabilities			(53,218)						(32,328)						(29,359)
Net deferred tax liabilities			$	(45,756)					$	(17,384)					$	(11,628)

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:

			Year Ended December 31, 2022						Three Months Ended December 31, 2021						Year Ended September 30, 2021
Tax at statutory rate			21.0		%				21.0		%				21.0		%
Nondeductible compensation			0.2		%				0.1		%				(1.0)		%
Transaction costs			—		%				—		%				(1.5)		%
Share-based compensation			—		%				(0.3)		%				(0.1)		%
State income taxes, net of federal benefit			0.7		%				0.7		%				0.4		%
Change in tax status			—		%				—		%				(40.1)		%
Income subject to taxation by REP LLC's unitholders			—		%				—		%				(17.1)		%
Other			(0.2)		%				—		%				—		%
Effective income tax rate			21.7		%				21.5		%				(38.4)		%

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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