Property and Equipment

6 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

As of December 31, 2015 and June 30, 2015 our oil and natural gas properties and other property and equipment consisted of the following:



	December 31, 2015			June 30, 2015
Oil and natural gas properties
Property costs subject to amortization	$	64,024,239		$	57,718,653
Less: Accumulated depreciation, depletion, and amortization	(14,974,989		)	(12,531,767		)
Unproved properties not subject to amortization	—			—
Oil and natural gas properties, net	$	49,049,250		$	45,186,886
Other property and equipment
Other equipment, at cost	$	337,245		$	607,674
Less: Accumulated depreciation	(298,966		)	(330,918		)
Other equipment, net	$	38,279		$	276,756

During the six months ended December 31, 2015 the Company incurred capital expenditures of $6.3 million for the Delhi field, including approximately $4.4 million for the NGL plant project which is currently in progress. We have incurred approximately $9.4 million on a cumulative basis for the NGL plant out of a total authorized commitment of $24.6 million.

During the three months ended December 31, 2015, we recorded a charge of $210,392 to expense the remaining capitalized costs of certain artificial lift equipment installed in the wells of a third-party customer. We continue to own this equipment and contract rights, but do not expect to realize any significant future value from this investment at current prices.