Oil and Gas Properties

3 Months Ended

Jun. 30, 2020

Oil And Gas Properties [Abstract]

OIL AND GAS PROPERTIES

NOTE 10: OIL AND GAS PROPERTIES

The Company's holdings in oil and gas mineral lease ("OGML") properties as of June 30, 2020 and March 31, 2020 are as follows:

	June 30, 2020		March 31, 2020
Property acquired from Shamrock	$	1,962	$	1,970
Properties acquired from White River		4,037		4,165
Asset purchase – June 2020		2		-
Total OGML Properties	$	6,001	$	6,135

Cherry et al OGML including shallow drilling rights was acquired by Shamrock from Hartoil Company on July 1, 2018.

O'Neal Family OGML and Weyerhaeuser OGML including shallow drilling rights were acquired by White River on July 1, 2019 from Livland, LLC and Hi-Tech Onshore Exploration, LLC respectively in exchange for a $125 drilling credit to be applied by Livland, LLC on subsequent drilling operations.

Taliaferro Family OGML including shallow drilling rights was acquired by White River on June 10, 2019 from Lagniappe Operating, LLC.

Kingrey Family OGML including both shallow and deep drilling rights was entered into by White River and the Kingrey Family on April 3, 2019.

Peabody Family OGML including both shallow and deep drilling rights was acquired by White River on June 18, 2019 from SR Acquisition I, LLC, a subsidiary of Sanchez Energy Corporation, for a 1% royalty retained interest in conjunction with White River executing a lease saving operation in June 2019.

Banner Midstream acquired the Cherry et al OGML via the Shamrock acquisition and the remaining OGML's via the White River acquisition. The Company then acquired all of the OGML properties as part of the acquisition of Banner Midstream on March 27, 2020.

As discussed in Note 15, the Company acquired certain leases on June 11, 2020 and June 18, 2020 in Mississippi and Louisiana valued at $2. These assets were paid entirely in cash. In addition, the Company impaired $83 of property as it let certain leases lapse.

The following table summarizes the Company's oil and gas activities by classification for the three months ended June 30, 2020. There was no activity for the three months ended June 30, 2019: 

Activity Category	March 31, 2020		Adjustments (1)			June 30, 2020
Proved Developed Producing Oil and Gas Properties
Cost	$	167	$	-		$	167
Accumulated depreciation, depletion and amortization		-		(1	)		(1	)
Total	$	167	$	(1	)	$	166
Undeveloped and Non-Producing Oil and Gas Properties
Cost	$	5,968	$	(81	)	$	5,887
Accumulated depreciation, depletion and amortization		-		(52	)		(52	)
Total	$	5,968	$	(133	)	$	5,835
Grand Total	$	6,135	$	(134	)	$	6,001

(1) Pursuant to the preliminary asset allocation in Banner Midstream acquisition.