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Property and Equipment

3 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

As of September 30, 2019 and June 30, 2019, our oil and natural gas properties and other property and equipment consisted of the following:

	September 30, 2019				June 30, 2019
Oil and natural gas properties
Property costs subject to amortization	$	96,247,547			$	95,622,153
Less: Accumulated depreciation, depletion, and amortization	(36,693,441		)		(35,275,687		)
Unproved properties not subject to amortization	—				—
Oil and natural gas properties, net	$	59,554,106			$	60,346,466
Other property and equipment
Furniture, fixtures, office equipment and other, at cost	$	154,731			$	154,731
Less: Accumulated depreciation	(130,635		)		(128,313		)
Other property and equipment, net	$	24,096			$	26,418

During the three months ended September 30, 2019 and 2018, the Company incurred capital expenditures of $0.6 million and $2.7 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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