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Subsequent Events
3 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

 

On July 15, 2016, Pioneer Natural Resources Company exercised its option to extend for an additional two years on Mexco leasehold interest in 60 net acres (200 gross acres) in Upton County, Texas. Pioneer paid Mexco $1,500 per acre for a total of $90,000. Mexco retained a 1% overriding royalty interest in this acreage. Pioneer has drilled 7 wells on other portions of acreage in which Mexco holds an interest.