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Derivatives (Tables)
12 Months Ended
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