Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Summary of the valuation of the Company's financial assets and liabilities

The following table summarizes the valuation of the Company’s financial assets and liabilities at March 31, 2015 and June 30, 2014:

	Fair Value Measurements at Reporting Date Using
(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant or Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at March 31, 2015
Assets:
Commodity derivatives	$	—	$	292		$	—		$	292
Total	$	—	$	292		$	—		$	292
Liabilities:
Asset retirement obligations (non-recurring)	$	—	$	—		$	(5,834	)	$	(5,834	)
Commodity derivatives		—		(186	)		—			(186	)
Environmental remediation liability		—		—			(2,057	)		(2,057	)
Total	$	—	$	(186	)	$	(7,891	)	$	(8,077	)

	Fair Value Measurements at Reporting Date Using
(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant or Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2014
Assets:
Commodity derivatives	$	—	$	37		$	—		$	37
Oil and gas properties impairment (nonrecurring)		—		—			(487	)		(487	)
Total	$	—	$	37		$	(487	)	$	(450	)
Liabilities:
Asset retirement obligations (non-recurring)	$	—	$	—		$	(5,745	)	$	(5,745	)
Commodity derivative		—		(121	)		—			(121	)
Environmental remediation liability		—		—			(2,067	)		(2,067	)
Total	$	—	$	(121	)	$	(7,812	)	$	(7,933	)

Summary of changes to fair value measurements using Level 3 inputs

The following is a summary of changes to fair value measurements using Level 3 inputs during the period ending March 31, 2015:

(in thousands)	Environmental Liability
Balance, June 30, 2014	$	(2,067	)
Acquisitions		—
Settlement of liabilities		10
Balance, March 31, 2015	$	(2,057	)