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Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) (Tables)
 12 Months Ended
Jun. 30, 2015
Oil and Gas Exploration and Production Industries Disclosures [Abstract]  
Schedule of costs incurred and capitalized in oil and natural gas property acquisition, exploration and development activities
Exploration and development costs also include amounts incurred due to the recognition of asset retirement obligations of $576,039, $66,976 and $65,575 during the years ended June 30, 2015, 2014, and 2013, respectively.
 
For the Years Ended June 30,
 
2015
 
2014
 
2013
Oil and natural gas activities
 
 
 
 
 
Property acquisition costs:
 
 
 
 
 
Proved property
$
—

 
$
—

 
$
26,449

Unproved property
—

 
47,344

 
195,599

Exploration costs
—

 
757,423

 
4,356,640

Development costs
10,975,637

 
18,566

 
79,035

Total costs incurred for oil and natural gas activities
$
10,975,637

 
$
823,333

 
$
4,657,723
Schedule of estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves
Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves for each of the periods indicated were as follows:
 
Crude Oil
(Bbls)
 
Natural Gas
Liquids
(Bbls)
 
Natural Gas
(Mcf)
 
BOE
Proved developed and undeveloped reserves:
 
 
 
 
 
 
 
June 30, 2012
11,638,618

 
492,473

 
7,860,156

 
13,441,116

Revisions of previous estimates (a)
1,826,053

 
975,515

 
27,679

 
2,806,181

Sales of minerals in place
(485,536
)
 
(480,832
)
 
(7,726,032
)
 
(2,254,038
)
Production (sales volumes)
(196,380
)
 
(7,271
)
 
(139,006
)
 
(226,819
)
June 30, 2013
12,782,755

 
979,885

 
22,797

 
13,766,440

Revisions of previous estimates (b)
(1,919,052
)
 
1,269,588

 
2,412,677

 
(247,350
)
Improved recovery, extensions and discoveries
17,146

 
32,731

 
498,044

 
132,884

Sales of minerals in place
(184,722
)
 
—

 
—

 
(184,722
)
Production (sales volumes)
(169,783
)
 
(3,516
)
 
(26,655
)
 
(177,742
)
June 30, 2014
10,526,344

 
2,278,688

 
2,906,863

 
13,289,510

Revisions of previous estimates (c)
(64,074
)
 
156,195

 
(2,894,703
)
 
(390,330
)
Improved recovery, extensions and discoveries
—

 
—

 
—

 
—

Sales of minerals in place
—

 
—

 
—

 
—

Production (sales volumes)
(450,294
)
 
(1,288
)
 
(7,221
)
 
(452,786
)
June 30, 2015
10,011,976

 
2,433,595

 
4,939

 
12,446,394

Proved developed reserves:
 
 
 
 
 
 
 
June 30, 2012
7,670,934

 
111,978

 
1,499,382

 
8,032,809

June 30, 2013
10,077,522

 
8,539

 
22,797

 
10,089,861

June 30, 2014
7,858,224

 
32,164

 
481,042

 
7,970,562

June 30, 2015
7,347,231

 
1,572

 
4,939

 
7,349,626

Proved undeveloped reserves:
 
 
 
 
 
 
 
June 30, 2012
3,967,684

 
380,495

 
6,360,774

 
5,408,307

June 30, 2013
2,705,233

 
971,346

 
—

 
3,676,579

June 30, 2014
2,668,120

 
2,246,524

 
2,425,821

 
5,318,948

June 30, 2015
2,664,745

 
2,432,023

 
—

 
5,096,768



(a) A significant upward reserve revision occurred in the Delhi Field during fiscal 2013 as a result of (1) revised geological maps based on production results and acquired seismic data, (2) inclusion of an additional reservoir with similar features, production history and suitability for EOR, and (3) inclusion of natural gas processing at Delhi.

(b) Significant reserve revisions occurred in the Delhi Field during fiscal 2014. As a result of an adverse fluid release event in the Field, 1,817,224 BBLs of oil reserves were reclassified from proved to probable category based on the operator's decision to defer CO2 injections in certain parts of the Field. There was a positive revision of 1,679,481 BOE, which was comprised of 1,275,178 BBLs of natural gas liquids and 2,425,821 MCF of natural gas as a result of an improved design for the gas plant in the Delhi Field. The plant is expected to significantly increase recoveries of these products, particularly natural gas, which was not previously planned to be extracted from the injection volumes.

(c) The 2,894,703 negative fiscal 2015 revision for natural gas primarily reflects a 2,246,524 MCF negative revision for the Delhi Field gas plant together with a 452,786 MCF negative revision at the Giddings Field for a well that was lost due to excessive formation solids that kept interfering with pumping. The gas plant revision resulted from a decision during the current fiscal year to use the methane production internally to reduce field operating costs rather than selling it into the market. The 156,195 BBL positive natural gas liquids revision primarily reflects 185,499 BBL positive revision for better recovery from the redesigned gas plant, partly offset by a 29,304 BBL negative revision due to the lost Giddings well.
Schedule of standardized measure of discounted future net cash flows related to proved oil and natural gas reserves
The standardized measure of discounted future net cash flows related to proved oil and natural gas reserves as of June 30, 2015, 2014, and 2013 are as follows:
 
For the Years Ended June 30,
 
2015
 
2014
 
2013
Future cash inflows
$
807,030,282

 
$
1,193,515,075

 
$
1,436,980,607

Future production costs and severance taxes
(309,225,333
)
 
(475,387,931
)
 
(510,902,614
)
Future development costs
(49,691,006
)
 
(46,154,178
)
 
(60,742,406
)
Future income tax expenses
(123,888,665
)
 
(195,581,510
)
 
(275,113,560
)
Future net cash flows
324,225,278

 
476,391,456

 
590,222,027

10% annual discount for estimated timing of cash flows
(165,028,739
)
 
(250,313,784
)
 
(283,001,328
)
Standardized measure of discounted future net cash flows
$
159,196,539

 
$
226,077,672

 
$
307,220,699
Schedule of NYMEX prices used in determining future cash flows
Future cash inflows represent expected revenues from production of period-end quantities of proved reserves based on the previous 12 months unweighted arithmetic average first-day-of-the-month commodity prices for each year and reflect adjustments for lease quality, transportation fees, energy content and regional price differentials.
 
Year Ended June 30,
 
2015
 
2014
 
2013
 
Oil
(Bbl)
 
Gas
(MMBtu)
 
Oil
(Bbl)
 
Gas
(MMBtu)
 
Oil
(Bbl)
 
Gas
(MMBtu)
NYMEX prices used in determining future cash flows
$
71.88

 
$
3.44

 
$
100.37

 
$
4.10

 
$
91.51

 
$
3.44
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
A summary of the changes in the standardized measure of discounted future net cash flows applicable to proved crude oil, natural gas liquids, and natural gas reserves is as follows:
 
For the Years Ended June 30,
 
2015
 
2014
 
2013
Balance, beginning of year
$
226,077,672

 
$
307,220,699

 
$
283,597,493

Net changes in sales prices and production costs related to future production
(88,043,095
)
 
(73,439,526
)
 
(35,184,725
)
Changes in estimated future development costs
(9,585,405
)
 
9,848,614

 
(566,125
)
Sales of oil and gas produced during the period, net of production costs
(18,538,016
)
 
(16,479,934
)
 
(19,569,182
)
Net change due to extensions, discoveries, and improved recovery
—

 
775,574

 
—

Net change due to revisions in quantity estimates
(9,391,321
)
 
(23,757,788
)
 
64,817,544

Net change due to sales of minerals in place
—

 
(3,150,277
)
 
(34,119,027
)
Development costs incurred during the period
7,785,095

 
—

 
747,656

Accretion of discount
31,974,540

 
45,896,187

 
41,678,733

Net change in discounted income taxes
34,157,767

 
58,073,450

 
10,175,957

Net changes in timing of production and other (a)
(15,240,698
)
 
(78,909,327
)
 
(4,357,625
)
Balance, end of year
$
159,196,539

 
$
226,077,672

 
$
307,220,699


(a) Due to the June 2013 adverse fluid release event in the Delhi Field, the operator had expressed plans to produce the Delhi Field at lower production rates. The decision to produce these reserves at lower rates over a longer period of time did not materially change the total quantities expected to be recovered, but resulted in a significant reduction in the discounted value of these reserves as of June 30, 2014.