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Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) (Tables) | 12 Months Ended
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Jun. 30, 2012
Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) |
Schedule of costs incurred and capitalized in oil and natural gas property acquisition, exploration and development activities |
|  | For the Years Ended June 30 |
|  | 2012 |  | 2011 |  | 2010 |
Oil and Natural Gas Activities |  |  |  |  |  |  |
Property acquisition costs: |  |  |  |  |  |  |
Proved property |  | $ | 115,637 |  | $ | 465,176 |  | $ | 391,785 |
Unproved property |  | 5,544,217 |  | 523,591 |  | 185,154 |
Exploration costs |  | 3,016,924 |  | 215,660 |  | 2,354,239 |
Development costs |  | 238,463 |  | 2,200,905 |  | 890,116 |
Total costs incurred for oil and natural gas activities |  | $ | 8,915,241 |  | $ | 3,405,332 |  | $ | 3,821,294 |
Schedule of estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves |
|  | Crude Oil (Bbls) |  | Natural Gas Liquids (Bbls) |  | Natural Gas (Mcf) |  | BOE |
Proved developed and undeveloped reserves: |  |  |  |  |  |  |  |  |
June 30, 2009 |  | 945,948 |  | 1,054,294 |  | 6,358,788 |  | 3,060,040 |
Revisions of previous estimates |  | (113,487 | ) | (19,147 | ) | 430,145 |  | (60,943 | )
Improved recovery, extensions and discoveries |  | 9,451,758 |  | 29,300 |  | 381,695 |  | 9,544,674 |
Production (sales volumes) |  | (29,749 | ) | (27,820 | ) | (407,674 | ) | (125,515 | )
June 30, 2010 |  | 10,254,470 |  | 1,036,627 |  | 6,762,954 |  | 12,418,256 |
Revisions of previous estimates |  | 1,475,918 |  | (84,154 | ) | 3,273,846 |  | 1,937,405 |
Improved recovery, extensions and discoveries |  | — |  | — |  | 779,556 |  | 129,926 |
Sales of minerals in place |  | (104,577 | ) | (221,469 | ) | (1,173,850 | ) | (521,688 | )
Production (sales volumes) |  | (57,965 | ) | (18,704 | ) | (238,607 | ) | (116,437 | )
June 30, 2011 |  | 11,567,846 |  | 712,300 |  | 9,403,899 |  | 13,847,462 |
Revisions of previous estimates |  | 84,219 |  | (212,677 | ) | (1,295,893 | ) | (344,440 | )
Improved recovery, extensions and discoveries |  | 137,634 |  | 5,461 |  | 18,925 |  | 146,249 |
Sales of minerals in place |  | — |  | — |  | — |  | — |
Production (sales volumes) |  | (151,081 | ) | (12,611 | ) | (266,775 | ) | (208,155 | )
June 30, 2012 |  | 11,638,618 |  | 492,473 |  | 7,860,156 |  | 13,441,116 |
Proved developed reserves: |  |  |  |  |  |  |  |  |
June 30, 2009 |  | 104,731 |  | 141,372 |  | 1,106,028 |  | 430,441 |
June 30, 2010 |  | 706,053 |  | 157,302 |  | 1,536,858 |  | 1,119,498 |
June 30, 2011 |  | 4,986,337 |  | 100,900 |  | 1,543,401 |  | 5,344,471 |
June 30, 2012 |  | 7,670,934 |  | 111,978 |  | 1,499,382 |  | 8,032,809 |
Schedule of standardized measure of discounted future net cash flows related to proved oil and natural gas reserves |
|  | For the Years Ended June 30 |
|  | 2012 |  | 2011 |  | 2010 |
Future cash inflows |  | $ | 1,355,686,188 |  | $ | 1,161,278,060 |  | $ | 827,902,260 |
Future production costs and severance taxes |  | (458,716,938 | ) | (379,493,392 | ) | (222,826,052 | )
Future development costs |  | (38,458,724 | ) | (40,571,895 | ) | (34,024,112 | )
Future income tax expenses |  | (296,703,838 | ) | (278,455,798 | ) | (213,063,769 | )
Future net cash flows |  | 561,806,688 |  | 462,756,975 |  | 357,988,327 |
10% annual discount for estimated timing of cash flows |  | (278,209,195 | ) | (234,309,020 | ) | (196,361,678 | )
Standardized measure of discounted future net cash flows |  | $ | 283,597,493 |  | $ | 228,447,954 |  | $ | 161,626,649 |
Schedule of commodity prices used in determining future cash flows |
|  | Year Ended June 30, |
|  | 2012 |  | 2011 |  | 2010 |
|  | Oil (Bbl) |  | Gas (MMBtu) |  | Oil (Bbl) |  | Gas (MMBtu) |  | Oil (Bbl) |  | Gas (MMBtu) |
Commodity prices used in determining future cash flows |  | $ | 95.67 |  | $ | 3.15 |  | $ | 90.09 |  | $ | 4.21 |  | $ | 75.76 |  | $ | 4.10 |
Schedule of changes in the standardized measure of discounted future net cash flows applicable to proved crude oil, natural gas liquids, and natural gas reserves |
|  | For the Years Ended June 30 |
|  | 2012 |  | 2011 |  | 2010 |
Balance, beginning of year |  | $ | 228,447,954 |  | $ | 161,626,649 |  | $ | 23,549,791 |
Net changes in sales prices and production costs related to future production |  | 76,942,613 |  | 57,178,860 |  | 3,935,863 |
Changes in estimated future development costs |  | 6,340,123 |  | (16,028,728 | ) | (3,502,403 | )
Sales of oil and gas produced during the period, net of production costs |  | (16,187,039 | ) | (6,151,549 | ) | (3,356,822 | )
Net change due to purchases of minerals in place |  | — |  | — |  | — |
Net change due to extensions, discoveries, and improved recovery |  | 1,606,122 |  | 623,446 |  | 236,828,138 |
Net change due to revisions in quantity estimates |  | (11,975,496 | ) | 56,766,220 |  | (934,602 | )
Net change due to sales of minerals in place |  | — |  | (8,233,734 | ) | — |
Development costs incurred during the period |  | (2,639,398 | ) | 2,416,565 |  | — |
Accretion of discount |  | 22,568,868 |  | 26,597,834 |  | 3,582,622 |
Net change in discounted income taxes |  | (15,026,628 | ) | (42,490,270 | ) | (91,991,767 | )
Other |  | (6,479,626 | ) | (3,857,339 | ) | (6,484,171 | )
Balance, end of year |  | $ | 283,597,493 |  | $ | 228,447,954 |  | $ | 161,626,649 |

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- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62014-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62038-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 19 -Paragraph 59P, 59Q, 59R -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=8451751&loc=d3e63042-109448 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62059-109447 + Details
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- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62536-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62500-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62496-109447 + Details
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- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61797-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61872-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61858-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61884-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61869-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61831-109447 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 19 -Paragraph 59E, 59F, 59G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62455-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62500-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62476-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62424-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62479-109447 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 19 -Paragraph 59Y, 59Z, 59AA, 59BB, 59CC -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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