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v3.24.3

Senior Secured Credit Facility (Details) $ in Millions |  |  |  | 3 Months Ended
--- | --- | --- | --- | ---
Feb. 12, 2024 | May 05, 2023 USD ($) agreement | Apr. 11, 2016 USD ($) | Sep. 30, 2024 USD ($) | Mar. 31, 2024
Debt Instrument [Line Items] |  |  |  |  |
Minimum current ratio |  |  | 1.00 |  |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt instrument, variable interest rate |  |  | 0.50% |  |
Line of Credit | Senior Secured Reserve-Based Credit Facility | Revolving credit facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Maximum borrowing capacity |  |  | $ 50.0 |  |
Available borrowing capacity |  |  |  | $ 10.5 |
Credit facility maturity date |  | Apr. 09, 2026 |  |  |
Credit facility, number of rights to interim unscheduled redeterminations | agreement |  | 1 |  |  |
Minimum consolidated tangible net worth |  |  | $ 40.0 |  |
Long-term line of credit |  |  |  | $ 39.5 |
Weighted average interest rate |  |  |  | 8.09% |
Commitment fee percentage |  |  | 0.25% |  |
Maximum total leverage ratio (not more than) |  |  | 3.00 |  |
Current borrowing base |  |  |  | $ 50.0 |
Margined collateral value |  | $ 95.0 |  |  |
Covenant compliance |  |  |  | As of September 30, 2024, the Company is in compliance with all covenants under the Senior Secured Credit Facility. |
Hedge period | 12 months |  |  |  | 12 months
Line of Credit | Senior Secured Reserve-Based Credit Facility | Revolving credit facility | Maximum |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Percentage of borrowing base to Margined Collateral Value | 25.00% |  |  |  |
Line of Credit | Senior Secured Reserve-Based Credit Facility | Prime Rate | Revolving credit facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  | 1.00% |  |
Line of Credit | Senior Secured Reserve-Based Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving credit facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 2.80% |  |  |
Credit spread adjustment |  | 0.05% |  |  |
Line of Credit | Senior Secured Reserve-Based Credit Facility | Crude oil | Revolving credit facility | Minimum |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Percentage of production hedged | 40.00% |  |  |  | 40.00%
Line of Credit | Senior Secured Reserve-Based Credit Facility | Crude Oil and Natural Gas Liquids (NGL) | Revolving credit facility | Minimum |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Percentage of production hedged | 25.00% |  |  |  | 25.00%

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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