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Derivatives (Tables)

12 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

						Years Ended June 30,
						2021						2020
Realized (gain) loss						$	2,525,988					$	(528,139)
Unrealized (gain) loss						(1,911,343)						1,911,343
Net (gain) loss on derivative contracts						$	614,645					$	1,383,204

Schedule of Outstanding Derivative Positions

The following sets forth a summary of the Company’s oil derivative positions during the year ended June 30, 2021.

Period

Type of Contract

Volumes in Barrels

Price / Price Range

Weighted Average Floor Price per Bbl.

Weighted Average Ceiling Price per Bbl.

July 2020 to December 2020

Fixed-Price Swap

257,600

$32

$32

$—

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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