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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended 102 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Cash flows from operating activities      
Net income (loss) $ 32,628 $ (16,438)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depletion, depreciation, and amortization 8,053 5,167  
Impairment of proved property 0 24,792  
Impairment of Well Lift Inc. - related assets   146  
Stock-based compensation 125 1,258  
Settlement of asset retirement obligations   (101)  
Deferred income taxes 1,142 (5,104)  
Unrealized loss on derivative contracts 1,994 615  
Accrued settlements on derivative contracts 919 (2,791)  
Other (10) 10  
Changes in operating assets and liabilities:      
Receivables (11,427) (6,632)  
Prepaid expenses and other current assets (538) (546)  
Accounts payable and accrued expenses 18,516 4,498  
State and federal income taxes payable 1,058 (141)  
Net cash provided by operating activities 52,460 4,733  
Cash flows from investing activities      
Acquisition of oil and natural gas properties (53,342) (18,297)  
Capital expenditures for oil and natural gas properties (1,531) (472)  
Net cash used in investing activities (54,873) (18,769)  
Cash flows from financing activities      
Common stock dividends paid (11,796) (4,342) $ (86,300)
Common stock repurchases, including stock surrendered for tax withholding (38) (7)  
Borrowings under credit facility 34,000 7,000  
Repayments of credit facility (16,750) (3,000)  
Net cash provided by (used in) financing activities 5,416 (349)  
Net increase (decrease) in cash and cash equivalents 3,003 (14,385)  
Cash and cash equivalents, beginning of year 5,277 19,662  
Cash and cash equivalents, end of year 8,280 5,277 $ 8,280
Supplemental disclosures of cash flow information:      
Cash paid for interest on Senior secured credit facility 523 86  
Cash paid for income taxes 6,294 758  
Cash received from income tax refunds 3,223 142  
Non-cash investing and financing transactions:      
Increase (decrease) in accrued purchases of property and equipment 1,094 (80)  
Oil and natural gas property costs attributable to the recognition of asset retirement obligations $ 7,807 $ 2,883