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Property Sales | 12 Months Ended
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Mar. 31, 2020
Property, Plant and Equipment [Abstract] |
Property Sales | 4. Property Sales During fiscal 2020, 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 $53,000 in cash from the sale of our remaining operated properties in Ector County, Texas; approximately $17,500 in cash for the sale of an overriding royalty interest in Lea County, New Mexico; approximately $4,300 in cash from the sale of joint venture leasehold acreage in which we retained the deep rights in Lea County, New Mexico; and, approximately $4,600 in cash from sales of joint venture leasehold acreage and marginal producing working interest wells in Howard and Ward Counties, Texas. The Company also received approximately $18,000 in cash from the sale of its surface rights on acreage in Brazoria County, Texas to a related party. The Company retained its mineral rights in this property. Other immaterial dispositions and purchase price adjustments during fiscal 2020 amounted to approximately $7,200. During fiscal 2019, the Company sold non-core assets for a total of approximately $162,000.

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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