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Enduro Purchase and Sale Agreement and Related Subsequent Events | 12 Months Ended
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Jun. 30, 2018
Asset Acquisition [Abstract] |
Enduro Purchase and Sale Agreement and Related Subsequent Events | Enduro Purchase and Sale Agreement and Related Subsequent Events As previously disclosed, the Company entered into a Purchase and Sale Agreement ("PSA") on May 15, 2018, to acquire, as the "stalking horse" bidder, certain oil and gas assets from an affiliate of Enduro Resource Partners LLC ("Enduro") for a purchase price of $27.5 million, subject to the outcome of Enduro's Chapter 11 process. Contemporaneous with executing the PSA, the Company made a $2.75 million deposit to an acquisition escrow account which is reflected in restricted cash together with earned interest on the Company's June 30, 2018 statement of financial position. On July 20, 2018, the Company was repaid its deposit together with related earned interest as a higher bidder emerged in the Chapter 11 bidding process. The Company's initial and subsequent bids represented offers under Section 363 of the U.S. Bankruptcy Code in connection with the Chapter 11 filing of Enduro and certain of its affiliates. Such offers are commonly referred to as “stalking horse” bids and are subject to higher bids, in accordance with the bidding procedures approved by the Bankruptcy Court. The PSA provided the Company with certain important protections in this process, including return of the escrowed deposit and payment to the Company of a $1.1 million break-up fee upon the closing of a higher bidder's purchase transaction. In connection with the PSA, the Company incurred third party due diligence expenses of $0.4 million, which were reflected in the Company's consolidated statement of operations for the year ended June 30, 2018. The full amount of the break-up fee was paid in late August 2018.

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