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Derivatives (Tables) | 3 Months Ended
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Sep. 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 unaudited condensed consolidated balance sheets as of September 30, 2025 and June 30, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as hedging contracts | ​ | Balance sheet | ​ | Derivative Contract Assets | ​ | Balance sheet | ​ | Derivative Contract Liabilities
under ASC 815 |  | location |  | September 30, 2025 |  | June 30, 2025 |  | location |  | September 30, 2025 |  | June 30, 2025
Commodity contracts | ​ | Current assets - derivative contract assets | ​ | $ | 2,075 | ​ | $ | 1,777 | ​ | Current liabilities - derivative contract liabilities | ​ | $ | 1,216 | ​ | $ | 1,577
Commodity contracts | ​ | Other noncurrent assets - derivative contract assets | ​ | ​ | 402 | ​ | ​ | 198 | ​ | Long term liabilities - derivative contract liabilities | ​ | ​ | 1,343 | ​ | ​ | 1,783
Total derivatives not designated as hedging contracts under ASC 815 | ​ | ​ | ​ | $ | 2,477 | ​ | $ | 1,975 | ​ | ​ | ​ | $ | 2,559 | ​ | $ | 3,360
Derivative Instruments, Gain (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as hedging contracts | ​ | Balance sheet | ​ | Derivative Contract Assets | ​ | Balance sheet | ​ | Derivative Contract Liabilities
under ASC 815 |  | location |  | September 30, 2025 |  | June 30, 2025 |  | location |  | September 30, 2025 |  | June 30, 2025
Commodity contracts | ​ | Current assets - derivative contract assets | ​ | $ | 2,075 | ​ | $ | 1,777 | ​ | Current liabilities - derivative contract liabilities | ​ | $ | 1,216 | ​ | $ | 1,577
Commodity contracts | ​ | Other noncurrent assets - derivative contract assets | ​ | ​ | 402 | ​ | ​ | 198 | ​ | Long term liabilities - derivative contract liabilities | ​ | ​ | 1,343 | ​ | ​ | 1,783
Total derivatives not designated as hedging contracts under ASC 815 | ​ | ​ | ​ | $ | 2,477 | ​ | $ | 1,975 | ​ | ​ | ​ | $ | 2,559 | ​ | $ | 3,360
Schedule of Derivative Instruments | As of September 30, 2025, the Company had the following open crude oil and natural gas derivative contracts: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Swap Price | ​ | Sub Floor | ​ | Floor Price | ​ | Ceiling Price
​ | ​ | ​ | ​ | ​ | ​ | Volumes in | ​ | ​ | per | ​ | Price per | ​ | per | ​ | per
Period |  | Commodity |  | Instrument |  | MMBTU/BBL | ​ | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL
October 2025 - December 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 5,895 | ​ | $ | 72.00 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - December 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 39,893 | ​ | ​ | 71.40 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - December 2025 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 9,157 | ​ | ​ | 61.02 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - June 2026 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 43,656 | ​ | ​ | 61.00 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - December 2025 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 10,258 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 60.00 | ​ | $ | 63.00
October 2025 - December 2025 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 2,404 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60.00 | ​ | ​ | 63.50
October 2025 - August 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 69,646 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60.00 | ​ | ​ | 65.55
January 2026 - March 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 43,493 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60.00 | ​ | ​ | 75.80
September 2026 - December 2026 | ​ | Crude Oil | ​ | Three-Way Collar | ​ | 40,872 | ​ | ​ | ​ | ​ | $ | 50.00 | ​ | ​ | 60.00 | ​ | ​ | 70.45
October 2025 - December 2026 | ​ | Natural Gas | ​ | Fixed-Price Swap | ​ | 2,090,828 | ​ | ​ | 3.60 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - December 2027 | ​ | Natural Gas | ​ | Fixed-Price Swap | ​ | 2,921,728 | ​ | ​ | 3.57 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
July 2026 - December 2026 | ​ | Natural Gas | ​ | Fixed-Price Swap | ​ | 207,366 | ​ | ​ | 3.98 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
October 2025 - December 2025 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 222,725 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 4.00 | ​ | ​ | 4.95
October 2025 - December 2025 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 25,028 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2.90 | ​ | ​ | 3.50
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
January 2026 - March 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 76,177 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.50 | ​ | ​ | 4.66
April 2026 - October 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 952,588 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.50 | ​ | ​ | 4.55
September 2026 - December 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 318,964 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.75 | ​ | ​ | 4.94
Subsequent to September 30, 2025, the Company entered into the following new crude oil and natural gas derivative contracts: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Swap Price | ​ | Sub Floor | ​ | Floor Price | ​ | Ceiling Price
​ | ​ | ​ | ​ | ​ | ​ | Volumes in | ​ | ​ | per | ​ | Price per | ​ | per | ​ | per
Period |  | Commodity |  | Instrument |  | MMBTU/BBL | ​ | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL
January 2026 - September 2026 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 83,498 | ​ | $ | 60.00 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
April 2026 - December 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 49,215 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 55.00 | ​ | $ | 63.65
July 2026 - December 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 35,427 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 55.00 | ​ | ​ | 63.50
October 2026 - December 2026 | ​ | Crude Oil | ​ | Three-Way Collar | ​ | 26,130 | ​ | ​ | ​ | ​ | $ | 50.00 | ​ | ​ | 57.00 | ​ | ​ | 70.22
January 2026 - December 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 578,214 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.50 | ​ | ​ | 4.44
Offsetting Assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Contracts Assets | ​ | Derivative Contracts Liabilities
Offsetting of Derivative Assets and Liabilities |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2025 |  | June 30, 2025
Gross amounts presented in the Consolidated Balance Sheet | ​ | $ | 2,477 | ​ | $ | 1,975 | ​ | $ | 2,559 | ​ | $ | 3,360
Amounts not offset in the Consolidated Balance Sheet | ​ | ​ | (1,619) | ​ | ​ | (1,774) | ​ | ​ | (1,619) | ​ | ​ | (1,774)
Net amount | ​ | $ | 858 | ​ | $ | 201 | ​ | $ | 940 | ​ | $ | 1,586
Offsetting Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Swap Price | ​ | Sub Floor | ​ | Floor Price | ​ | Ceiling Price
​ | ​ | ​ | ​ | ​ | ​ | Volumes in | ​ | ​ | per | ​ | Price per | ​ | per | ​ | per
Period |  | Commodity |  | Instrument |  | MMBTU/BBL | ​ | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL |  | MMBTU/BBL
January 2026 - September 2026 | ​ | Crude Oil | ​ | Fixed-Price Swap | ​ | 83,498 | ​ | $ | 60.00 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
April 2026 - December 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 49,215 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 55.00 | ​ | $ | 63.65
July 2026 - December 2026 | ​ | Crude Oil | ​ | Two-Way Collar | ​ | 35,427 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 55.00 | ​ | ​ | 63.50
October 2026 - December 2026 | ​ | Crude Oil | ​ | Three-Way Collar | ​ | 26,130 | ​ | ​ | ​ | ​ | $ | 50.00 | ​ | ​ | 57.00 | ​ | ​ | 70.22
January 2026 - December 2026 | ​ | Natural Gas | ​ | Two-Way Collar | ​ | 578,214 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3.50 | ​ | ​ | 4.44

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