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Derivatives (Tables)
12 Months Ended
Jun. 30, 2024
Derivatives  
Schedule of the Location and Fair Value Amounts of All Derivative Contracts in the Unaudited Condensed Consolidated Balance Sheets The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of June 30, 2024 and 2023 (in thousands):

Derivatives not designated

as hedging contracts

Balance sheet

Derivative Contract Assets

Balance sheet

Derivative Contract Liabilities

under ASC 815

    

location

    

June 30, 2024

    

June 30, 2023

    

location

    

June 30, 2024

    

June 30, 2023

Commodity contracts

Current assets - derivative contract assets

$

596

$

Current liabilities - derivative contract liabilities

$

1,192

$

Commodity contracts

Other assets - derivative contract assets

171

Long term liabilities - derivative contract liabilities

468

Total derivatives not designated as hedging contracts under ASC 815

$

767

$

$

1,660

$

Schedule of Derivative Instruments

Weighted Average

Weighted Average

Weighted Average

Volumes in

Swap Price per

Floor Price per

Ceiling Price per

Period

    

Instrument

    

Commodity

    

MMBTU/BBL

MMBTU/BBL

    

MMBTU/BBL

    

MMBTU/BBL

July 2024 - December 2024

Fixed-Price Swap

Crude Oil

73,558

$

74.20

July 2024 - December 2024

Collar

Crude Oil

73,558

$

70.00

$

77.40

January 2025 - March 2025

Collar

Crude Oil

42,566

68.00

73.77

January 2025 - February 2025

Fixed-Price Swap

Natural Gas

312,286

3.56

April 2025 - June 2025

Collar

Crude Oil

41,601

65.00

84.00

March 2025 - December 2026

Fixed-Price Swap

Natural Gas

3,170,705

3.60

Derivative Instruments, Gain (Loss)

Derivatives not designated

Location of gain (loss)

as hedging contracts

recognized in income on

Years Ended June 30, 

under ASC 815

    

derivative contracts

2024

    

2023

Commodity contracts:

Realized gain (loss) on derivative contracts

Other income and expenses - net gain (loss) on derivative contracts

$

(399)

$

(1,481)

Unrealized gain (loss) on derivative contracts

Other income and expenses - net gain (loss) on derivative contracts

(893)

1,994

Total net gain (loss) on derivative contracts

$

(1,292)

$

513

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 June 30, 2024 and 2023 (in thousands):

Derivative Contract Assets

Derivative Contract Liabilities

Offsetting of Derivative Assets and Liabilities

    

June 30, 2024

    

June 30, 2023

    

June 30, 2024

    

June 30, 2023

Gross amounts presented in the Consolidated Balance Sheet

$

767

$

$

1,660

$

Amounts not offset in the Consolidated Balance Sheet

(497)

(497)

Net amount

$

270

$

$

1,163

$

Offsetting Liabilities The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of June 30, 2024 and 2023 (in thousands):

Derivative Contract Assets

Derivative Contract Liabilities

Offsetting of Derivative Assets and Liabilities

    

June 30, 2024

    

June 30, 2023

    

June 30, 2024

    

June 30, 2023

Gross amounts presented in the Consolidated Balance Sheet

$

767

$

$

1,660

$

Amounts not offset in the Consolidated Balance Sheet

(497)

(497)

Net amount

$

270

$

$

1,163

$