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Derivatives (Tables) | 12 Months Ended
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Jun. 30, 2025
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, 2025 and 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as hedging contracts | ​ | Balance sheet | ​ | Derivative Contract Assets | ​ | Balance sheet | ​ | Derivative Contract Liabilities
under ASC 815 |  | location |  | June 30, 2025 |  | June 30, 2024 |  | location |  | June 30, 2025 |  | June 30, 2024
Commodity contracts | ​ | Current assets - derivative contract assets | ​ | $ | 1,777 | ​ | $ | 596 | ​ | Current liabilities - derivative contract liabilities | ​ | $ | 1,577 | ​ | $ | 1,192
Commodity contracts | ​ | Other assets - derivative contract assets | ​ | ​ | 198 | ​ | ​ | 171 | ​ | Long term liabilities - derivative contract liabilities | ​ | ​ | 1,783 | ​ | ​ | 468
Total derivatives not designated as hedging contracts under ASC 815 | ​ | ​ | ​ | $ | 1,975 | ​ | $ | 767 | ​ | ​ | ​ | $ | 3,360 | ​ | $ | 1,660
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 | ​ | 2025 |  | 2024
Commodity contracts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Realized gain (loss) on derivative contracts | ​ | Other income and expenses - net gain (loss) on derivative contracts | ​ | $ | 965 | ​ | $ | (399)
Unrealized gain (loss) on derivative contracts | ​ | Other income and expenses - net gain (loss) on derivative contracts | ​ | ​ | (492) | ​ | ​ | (893)
Total net gain (loss) on derivative contracts | ​ | ​ | ​ | $ | 473 | ​ | $ | (1,292)
Schedule of Derivative Instruments | As of June 30, 2025, the Company had the following open crude oil and natural gas derivative contracts:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Volumes in | ​ | Swap Price per | ​ | Floor Price per | ​ | Ceiling Price per
Period |  | Commodity |  | Instrument |  | MMBTU/BBL | ​ | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL
July 2025 - September 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 9,591 | ​ | $ | 60.50 | ​ | ​ | ​ | ​ | ​ | ​
July 2025 - December 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 11,880 | ​ | ​ | 72.00 | ​ | ​ | ​ | ​ | ​ | ​
July 2025 - December 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 81,335 | ​ | ​ | 71.40 | ​ | ​ | ​ | ​ | ​ | ​
July 2025 - December 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 18,748 | ​ | ​ | 61.02 | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - June 2026 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 43,656 | ​ | ​ | 61.00 | ​ | ​ | ​ | ​ | ​ | ​
January 2026 - March 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 43,493 | ​ | ​ | ​ | ​ | $ | 60.00 | ​ | $ | 75.80
April 2026 - June 2026 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 17,106 | ​ | ​ | 60.40 | ​ | ​ | ​ | ​ | ​ | ​
April 2026 - September 2026 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 25,412 | ​ | ​ | 62.00 | ​ | ​ | ​ | ​ | ​ | ​
July 2025 - December 2025 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 450,550 | ​ | ​ | ​ | ​ | ​ | 4.00 | ​ | ​ | 4.95
July 2025 - December 2026 | ​ | Natural Gas | ​ | Fixed-Price Swap | ​ | 2,546,138 | ​ | ​ | 3.60 | ​ | ​ | ​ | ​ | ​ | ​
January 2026 - March 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 213,251 | ​ | ​ | ​ | ​ | ​ | 4.00 | ​ | ​ | 5.39
January 2026 - March 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 375,481 | ​ | ​ | ​ | ​ | ​ | 3.60 | ​ | ​ | 5.00
April 2026 - October 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 952,588 | ​ | ​ | ​ | ​ | ​ | 3.50 | ​ | ​ | 4.55
July 2025 - December 2027 | ​ | Natural Gas | ​ | Fixed-Price Swap | ​ | 3,323,035 | ​ | ​ | 3.57 | ​ | ​ | ​ | ​ | ​ | ​
Subsequent to June 30, 2025, the Company entered into the following new crude oil and natural gas derivative contracts:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Volumes in | ​ | Swap Price per | ​ | Sub Floor Price per | ​ | Floor Price per | ​ | Ceiling Price per
Period |  | Commodity |  | Instrument |  | MMBTU/BBL | ​ | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL | ​ | MMBTU/BBL
August 2025 - August 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 83,458 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 60.00 | ​ | $ | 65.55
September 2025 - December 2025 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 13,742 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60.00 | ​ | ​ | 63.00
September 2025 - December 2025 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 3,798 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60.00 | ​ | ​ | 63.50
September 2026 - December 2026 | ​ | Crude Oil | ​ | Three-Way Collar | ​ | 40,872 | ​ | ​ | ​ | ​ | $ | 50.00 | ​ | ​ | 60.00 | ​ | ​ | 70.45
September 2025 - December 2025 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 34,224 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2.90 | ​ | ​ | 3.50
January 2026 - March 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 76,177 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.50 | ​ | ​ | 4.66
July 2026 - December 2026 | ​ | Natural Gas | ​ | Fixed-Price Swap | ​ | 207,366 | ​ | $ | 3.98 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 2026 - December 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 318,964 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.75 | ​ | ​ | 4.94
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, 2025 and 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Contract Assets | ​ | Derivative Contract Liabilities
Offsetting of Derivative Assets and Liabilities |  | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Gross amounts presented in the Consolidated Balance Sheet | ​ | $ | 1,975 | ​ | $ | 767 | ​ | $ | 3,360 | ​ | $ | 1,660
Amounts not offset in the Consolidated Balance Sheet | ​ | ​ | (1,774) | ​ | ​ | (497) | ​ | ​ | (1,774) | ​ | ​ | (497)
Net amount | ​ | $ | 201 | ​ | $ | 270 | ​ | $ | 1,586 | ​ | $ | 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, 2025 and 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Contract Assets | ​ | Derivative Contract Liabilities
Offsetting of Derivative Assets and Liabilities |  | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Gross amounts presented in the Consolidated Balance Sheet | ​ | $ | 1,975 | ​ | $ | 767 | ​ | $ | 3,360 | ​ | $ | 1,660
Amounts not offset in the Consolidated Balance Sheet | ​ | ​ | (1,774) | ​ | ​ | (497) | ​ | ​ | (1,774) | ​ | ​ | (497)
Net amount | ​ | $ | 201 | ​ | $ | 270 | ​ | $ | 1,586 | ​ | $ | 1,163

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