Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of Accounts Receivable

Accounts receivable is summarized below:

	September 30,
	2021		2020
	(In thousands)
Oil, natural gas and NGL sales	$	17,008	$	6,919
Joint interest accounts receivable	413		1,022
Realized derivative receivable	42		2,187
Other accounts receivable	10		—
Total accounts receivable	$	17,473	$	10,128

Schedule of Other Non-current Assets

Other non-current assets consisted of the following:

	September 30,
	2021		2020
	(In thousands)
Deferred financing costs, net	$	1,353	$	1,867
Prepayments to outside operators	707		284
Right of use assets	309		700
Other deposits	50		98
Total other non-current assets, net	$	2,419	$	2,949

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following:

	September 30,
	2021		2020
	(In thousands)
Accrued capital expenditures	$	9,718	$	2,964
Accrued lease operating expenses	2,428		1,617
Accrued general and administrative costs	4,375		2,125
Accrued dividends on preferred units	—		903
Other accrued expenditures	2,834		1,079
Total accrued liabilities	$	19,355	$	8,688

Schedule of Asset Retirement Obligations

Components of the changes in ARO for the years ended September 30, 2021 and 2020 are shown below:

	September 30,
	2021		2020
	(In thousands)
ARO, beginning balance	$	2,326	$	1,203
Liabilities incurred	113		68
Liabilities acquired	—		1,161
Revision of estimated obligations	—		(45)
Liability settlements and disposals	(92)		(131)
Accretion	87		70
ARO, ending balance	2,434		2,326
Less: current ARO(1)	(128)		(58)
ARO, long-term	$	2,306	$	2,268

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(1)Current ARO is included within other current liabilities on the consolidated balance sheets.

Disaggregation of Revenue

The following table presents oil and natural gas sales from continuing operations disaggregated by product:

	Year Ended September 30,
	2021		2020
	(In thousands)
Oil and natural gas sales:
Oil	$	136,421	$	74,895
Natural gas(1)	7,500		(1,267)
Natural gas liquids(1)	4,715		(495)
Total oil and natural gas sales, net	$	148,636	$	73,133

_____________________

(1)The Company's natural gas and NGL sales are presented net of gathering, processing and transportation fees which at times exceed the price received and result in negative average prices.

Schedule of ROU Asset and Lease Liability

ROU asset and lease liability balances were as follows as of September 30, 2021 and 2020:

	September 30,
	2021		2020
	(In thousands)
ROU asset	$	309	$	700
Current lease liability	$	314	$	392
Long-term lease liability	$	—	$	314