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Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) (Tables)
 12 Months Ended
Jun. 30, 2016
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
The following table summarizes costs incurred and capitalized in oil and natural gas property acquisition, exploration and development activities. Property acquisition costs are those costs incurred to lease property, including both undeveloped leasehold and the purchase of reserves in place. Exploration costs include costs of identifying areas that may warrant examination and examining specific areas that are considered to have prospects containing oil and natural gas reserves, including costs of drilling exploratory wells, geological and geophysical costs and carrying costs on undeveloped properties. Development costs are incurred to obtain access to proved reserves, including the cost of drilling. Exploration and development costs also include amounts incurred due to the recognition of asset retirement obligations of $140,151, $576,039 and $66,976 during the years ended June 30, 2016, 2015, and 2014, respectively.
 
For the Years Ended June 30,
 
2016
 
2015
 
2014
Oil and Natural Gas Activities
 
 
 
 
 
Property acquisition costs:
 
 
 
 
 
Proved property
$
—

 
$
—

 
$
—

Unproved property (a)
596,500

 
—

 
47,344

Exploration costs
—

 
—

 
757,423

Development costs
19,093,200

 
10,975,637

 
18,566

Total costs incurred for oil and natural gas activities
$
19,689,700

 
$
10,975,637

 
$
823,333
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, 2013
12,782,755

 
979,885

 
22,797

 
13,766,440

Revisions of previous estimates (a)
(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 (b)
(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

Revisions of previous estimates (c)
(765,385
)
 
(198,233
)
 
(3,319
)
 
(964,171
)
Improved recovery, extensions and discoveries
—

 
—

 
—

 
—

Sales of minerals in place
—

 
—

 
—

 
—

Production (sales volumes)
(658,041
)
 
(491
)
 
(1,620
)
 
(658,802
)
June 30, 2016
8,588,550

 
2,234,871

 
—

 
10,823,421

Proved developed reserves:
 
 
 
 
 
 
 
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

June 30, 2016
7,168,249

 
—

 
—

 
7,168,249

Proved undeveloped reserves:
 
 
 
 
 
 
 
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

June 30, 2016
1,420,301

 
2,234,871

 
—

 
3,655,172



(a) Significant reserve revisions occurred in the Delhi field during fiscal 2014. As a result of a 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 NGL plant in the Delhi field. The plant was expected to significantly increase recoveries of these products, particularly natural gas, which were not previously planned to be extracted from the injection volumes.

(b) The 2,894,703 negative fiscal 2015 revision for natural gas primarily reflects a 2,246,524 MCF negative revision for the Delhi field NGL plant together with a 452,786 MCF negative revision at the Giddings Field for a well that was lost due to mechanical issues. The NGL 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 NGL plant, partly offset by a 29,304 BBL negative revision due to the lost Giddings well.

(c) The negative revision results primarily from the removal of proved undeveloped reserves in the far eastern part of the Delhi field, referred to as Test Site 6, which were deemed uneconomic under the lower SEC price case utilized at the end of the period.
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, 2016, 2015, and 2014 are as follows:
 
For the Years Ended June 30,
 
2016
 
2015
 
2014
Future cash inflows
$
383,491,193

 
$
807,030,282

 
$
1,193,515,075

Future production costs and severance taxes
(179,182,565
)
 
(309,225,333
)
 
(475,387,931
)
Future development costs
(16,595,047
)
 
(49,691,006
)
 
(46,154,178
)
Future income tax expenses
(45,713,438
)
 
(123,888,665
)
 
(195,581,510
)
Future net cash flows
142,000,143

 
324,225,278

 
476,391,456

10% annual discount for estimated timing of cash flows
(64,042,824
)
 
(165,028,739
)
 
(250,313,784
)
Standardized measure of discounted future net cash flows
$
77,957,319

 
$
159,196,539

 
$
226,077,672
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,
 
2016
 
2015
 
2014
 
Oil
(Bbl)
 
Gas
(MMBtu)
 
Oil
(Bbl)
 
Gas
(MMBtu)
 
Oil
(Bbl)
 
Gas
(MMBtu)
NYMEX prices used in determining future cash flows
$
42.91

 
n/a
 
$
71.88

 
$
3.44

 
$
100.37

 
$
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
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,
 
2016
 
2015
 
2014
Balance, beginning of year
$
159,196,539

 
$
226,077,672

 
$
307,220,699

Net changes in sales prices and production costs related to future production
(120,832,747
)
 
(88,043,095
)
 
(73,439,526
)
Changes in estimated future development costs
74,991

 
(9,585,405
)
 
9,848,614

Sales of oil and gas produced during the period, net of production costs
(17,079,363
)
 
(18,538,016
)
 
(16,479,934
)
Net change due to extensions, discoveries, and improved recovery
—

 
—

 
775,574

Net change due to revisions in quantity estimates
(18,821,014
)
 
(9,391,321
)
 
(23,757,788
)
Net change due to sales of minerals in place
—

 
—

 
(3,150,277
)
Development costs incurred during the period
16,327,883

 
7,785,095

 
—

Accretion of discount
21,870,650

 
31,974,540

 
45,896,187

Net change in discounted income taxes
36,598,239

 
34,157,767

 
58,073,450

Net changes in timing of production and other (a)
622,141

 
(15,240,698
)
 
(78,909,327
)
Balance, end of year
$
77,957,319

 
$
159,196,539

 
$
226,077,672


(a) Due to the June 2013 fluid release event in the Delhi field, the operator 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.