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Subsequent Events | 12 Months Ended
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Mar. 31, 2023
Subsequent Events [Abstract] |
Subsequent Events | 14. Subsequent Events On April 10, 2023, the Company announced that its Board of Directors declared a special dividend of $0.10 per common share to its shareholders of record at the close of business on May 1, 2023. The special dividend was paid on May 15, 2023. In April 2023, the Company expended approximately $133,200 to participate in the drilling of 4 horizontal wells in the Wolfcamp Sand formation of the Delaware Basin in Lea County, New Mexico. In May 2023, the Company expended approximately $210,600 to complete 4 horizontal wells in the Wolfcamp Sand formation of the Delaware Basin in Lea County, New Mexico that were drilled during fiscal 2023. In June 2023, the Company received approximately $258,000 in cash from a sale of joint venture leasehold acreage and marginal producing working interest wells in Reagan County, Texas. The Company completed a review and analysis of all events that occurred after the consolidated balance sheet date to determine if any such events must be reported and has determined that there are no other subsequent events to be disclosed.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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