XML 48 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Property and Equipment
 12 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
As of June 30, 2018 and June 30, 2017, our oil and natural gas properties and other property and equipment consisted of the following:
 
June 30,
2018
 
June 30,
2017
Oil and natural gas properties:
 
 
 
Property costs subject to amortization
$
90,392,918

 
$
84,962,933

Less: Accumulated depreciation, depletion, and amortization
(29,153,172
)
 
(23,172,865
)
Unproved properties not subject to amortization
—

 
—

Oil and natural gas properties, net
61,239,746

 
61,790,068

Other property and equipment:
 
 
 
Furniture, fixtures and office equipment, at cost
143,223

 
135,377

Less: Accumulated depreciation
(112,816
)
 
(94,688
)
Other property and equipment, net
$
30,407

 
$
40,689


As of June 30, 2018 and 2017, all oil and gas property costs were being amortized.
During the years ended June 30, 2018 and 2017, the Company incurred capital expenditures of $5.4 million and $7.1 million, respectively, in the Delhi field.