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Derivatives (Tables) | 6 Months Ended
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Dec. 31, 2022
Derivatives |
Schedule of Derivative Instruments | The following table summarizes the location and fair value amounts of all derivative contracts in the unaudited condensed consolidated balance sheets as of December 31, 2022 and June 30, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as hedging contracts | ​ | Balance sheet | ​ | Derivative Contract Assets | ​ | Balance sheet | ​ | Derivative Contract Liabilities
under ASC 815 |  | location |  | December 31, 2022 |  | June 30, 2022 |  | location |  | December 31, 2022 |  | June 30, 2022
Commodity contracts | ​ | Current assets - derivative contract assets | ​ | $ | 244 | ​ | $ | 170 | ​ | Current liabilities - derivative contract liabilities | ​ | $ | 49 | ​ | $ | 2,164
Commodity contracts | ​ | Other assets - derivative contract assets | ​ | ​ | — | ​ | ​ | — | ​ | Long term liabilities - derivative contract liabilities | ​ | ​ | — | ​ | ​ | —
Total derivatives not designated as hedging contracts under ASC 815 | ​ | ​ | ​ | $ | 244 | ​ | $ | 170 | ​ | ​ | ​ | $ | 49 | ​ | $ | 2,164
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated | ​ | Location of gain (loss) | ​ | Three Months Ended | ​ | Six Months Ended
as hedging contracts | ​ | recognized in income on | ​ | December 31, | ​ | December 31,
under ASC 815 |  | derivative contracts |  | 2022 | ​ | 2021 | ​ | 2022 |  | 2021
Commodity contracts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Realized gain (loss) on derivative contracts | ​ | Other income and expenses - net gain (loss) on derivative contracts | ​ | $ | (224) | ​ | $ | — | ​ | $ | (1,946) | ​ | $ | —
Unrealized gain (loss) on derivative contracts | ​ | Other income and expenses - net gain (loss) on derivative contracts | ​ | ​ | 1,070 | ​ | ​ | — | ​ | ​ | 2,189 | ​ | ​ | —
Total net gain (loss) on derivative contracts | ​ | ​ | ​ | $ | 846 | ​ | $ | — | ​ | $ | 243 | ​ | $ | —
​
Derivative Instruments, Gain (Loss) | As of December 31, 2022, the Company had the following open crude oil and natural gas derivative contracts: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | Weighted Average
​ | ​ | ​ | ​ | ​ | ​ | Volumes in | ​ | Floor Price per | ​ | Ceiling Price per
Period |  | Instrument |  | Commodity |  | MMBTU/BBL | ​ | MMBTU/BBL |  | MMBTU/BBL
January 2023 - February 2023 | ​ | Collar | ​ | Natural Gas | ​ | 214,931 | ​ | $ | 3.75 | ​ | $ | 7.30
January 2023 - March 2023 | ​ | Collar | ​ | Natural Gas | ​ | 220,875 | ​ | ​ | 5.25 | ​ | ​ | 7.50
January 2023 - February 2023 | ​ | Collar | ​ | Crude Oil | ​ | 29,995 | ​ | ​ | 70.00 | ​ | ​ | 87.50
​
Offsetting Assets | The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of December 31, 2022 and June 30, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Contracts Assets | ​ | Derivative Contracts Liabilities
Offsetting of Derivative Assets and Liabilities |  | December 31, 2022 |  | June 30, 2022 |  | December 31, 2022 |  | June 30, 2022
Gross amounts presented in the Consolidated Balance Sheet | ​ | $ | 244 | ​ | $ | 170 | ​ | $ | 49 | ​ | $ | 2,164
Amounts not offset in the Consolidated Balance Sheet | ​ | ​ | (32) | ​ | ​ | (170) | ​ | ​ | (32) | ​ | ​ | (170)
Net amount | ​ | $ | 212 | ​ | $ | — | ​ | $ | 17 | ​ | $ | 1,994
​
Offsetting Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Contracts Assets | ​ | Derivative Contracts Liabilities
Offsetting of Derivative Assets and Liabilities |  | December 31, 2022 |  | June 30, 2022 |  | December 31, 2022 |  | June 30, 2022
Gross amounts presented in the Consolidated Balance Sheet | ​ | $ | 244 | ​ | $ | 170 | ​ | $ | 49 | ​ | $ | 2,164
Amounts not offset in the Consolidated Balance Sheet | ​ | ​ | (32) | ​ | ​ | (170) | ​ | ​ | (32) | ​ | ​ | (170)
Net amount | ​ | $ | 212 | ​ | $ | — | ​ | $ | 17 | ​ | $ | 1,994
​

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