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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 111 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Cash flows from operating activities:          
Net income (loss)     $ 35,051 $ 17,756  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depletion, depreciation, and accretion $ 3,383 $ 1,737 10,439 4,489  
Stock-based compensation     1,155 868  
Settlement of asset retirement obligations     (119)    
Deferred income taxes     (100) 400  
Unrealized (gain) loss on derivative contracts     (1,994) 2,398  
Accrued settlements on derivative contracts     (1,130) 193  
Other     (3) (7)  
Changes in operating assets and liabilities:          
Receivables     16,483 (4,999)  
Prepaid expenses and other current assets     (980) (79)  
Accounts payable and accrued expenses     (8,146) 7,529  
State and federal income taxes payable     1,063 143  
Net cash provided by operating activities     51,719 28,691  
Cash flows from investing activities:          
Acquisition of oil and natural gas properties     (31) (25,844)  
Capital expenditures for oil and natural gas properties     (4,234) (826)  
Acquisition deposit       (1,470)  
Net cash used in investing activities     (4,265) (28,140)  
Cash flows from financing activities:          
Common stock dividends paid     (12,114) (8,421) $ (98,400)
Common stock repurchases, including stock surrendered for tax withholding     (3,983) (38)  
Borrowings under senior secured credit facility       17,000  
Repayments of credit facility     (21,250) (1,000)  
Net cash used in financing activities     (37,347) 7,541  
Net increase (decrease) in cash and cash equivalents     10,107 8,092  
Cash and cash equivalents, beginning of period     8,280 5,277  
Cash and cash equivalents, end of period $ 18,387 $ 13,369 18,387 13,369 $ 18,387
Non-cash investing and financing transactions:          
Increase (decrease) in accrued capital expenditures for oil and natural gas properties     $ (141)    
Oil and natural gas property costs attributable to the recognition of asset retirement obligations       $ 2,440