Property and Equipment

9 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

As of March 31, 2016 and June 30, 2015, our oil and natural gas properties and other property and equipment consisted of the following:



	March 31, 2016			June 30, 2015
Oil and natural gas properties
Property costs subject to amortization	$	69,886,767		$	57,718,653
Less: Accumulated depreciation, depletion, and amortization	(16,237,153		)	(12,531,767		)
Unproved properties not subject to amortization	—			—
Oil and natural gas properties, net	$	53,649,614		$	45,186,886
Other property and equipment
Other equipment, at cost	$	328,201		$	607,674
Less: Accumulated depreciation	(302,211		)	(330,918		)
Other equipment, net	$	25,990		$	276,756

During the nine months ended March 31, 2016, the Company incurred capital expenditures of $12,165,169 for the Delhi field, including approximately $10,034,697 for the NGL plant project which is currently in progress. We have incurred approximately $15,075,736 on a cumulative basis for the NGL plant out of a total authorized commitment of $24.6 million.

In November 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 oil and gas prices.