Derivatives (Tables)

9 Months Ended

Mar. 31, 2023

Derivatives

Schedule of Derivative Instruments

The following table summarizes the location and fair value amounts of all derivative contracts in the unaudited condensed consolidated balance sheets as of March 31, 2023 and June 30, 2022 (in thousands):

Derivative Instruments, Gain (Loss)

The following table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivative contracts in the Company’s unaudited condensed consolidated statements of operations for the three and nine months ended March 31, 2023 and 2022 (in thousands). “Realized gain (loss) on derivative contracts” represents all receipts (payments) on derivative contracts settled during the period. “Unrealized gain (loss) on derivative contracts” represents the net change in the mark-to-market valuation of the derivative contracts.

Derivatives not designated	Location of gain (loss)	Three Months Ended				Nine Months Ended
as hedging contracts	recognized in income on	March 31,				March 31,
under ASC 815	derivative contracts	2023		2022		2023		2022
Commodity contracts:
Realized gain (loss) on derivative contracts	Other income and expenses - net gain (loss) on derivative contracts	$	465	$	(193)	$	(1,481)	$	(193)
Unrealized gain (loss) on derivative contracts	Other income and expenses - net gain (loss) on derivative contracts		(195)		(2,398)		1,994		(2,398)
Total net gain (loss) on derivative contracts		$	270	$	(2,591)	$	513	$	(2,591)

Offsetting Assets

The following table shows the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts as of June 30, 2022 (in thousands):