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Property Sales
12 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
Property Sales

4. Property Sales

 

During fiscal 2019, the Company continued its policy of selling non-core assets in order to concentrate on the development of more profitable assets and to pay down debt. The Company received approximately $33,000 in cash from a sale of joint venture leasehold acreage and marginal producing working interest wells in North Dakota and Montana; approximately $72,000 in cash from a sale of joint venture leasehold marginal producing working interests in Ward and Winkler Counties in Texas; and, approximately $51,000 in cash from the sale of additional leasehold acreage in Eddy County, New Mexico. Other immaterial dispositions and purchase price adjustments amounted to approximately $6,000.

 

During fiscal 2018, the Company sold non-core assets for a total of approximately $3.2 million.