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Property and Equipment

9 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

As of March 31, 2018 and June 30, 2017, our oil and natural gas properties and other property and equipment consisted of the following:

	March 31, 2018				June 30, 2017
Oil and natural gas properties
Property costs subject to amortization	$	87,253,160			$	84,962,933
Less: Accumulated depreciation, depletion, and amortization	(27,663,410		)		(23,172,865		)
Unproved properties not subject to amortization	—				—
Oil and natural gas properties, net	$	59,589,750			$	61,790,068
Other property and equipment
Furniture, fixtures, office equipment and other, at cost	$	141,410			$	135,377
Less: Accumulated depreciation	(107,266		)		(94,688		)
Other property and equipment, net	$	34,144			$	40,689

During the nine months ended March 31, 2018 and 2017, the Company incurred capital expenditures of $2.3 million and $6.9 million, respectively, in the Delhi field.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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