Annual report pursuant to Section 13 and 15(d)

Supplemental Oil and Gas Disclosures (Unaudited) (Tables)

v3.20.2
Supplemental Oil and Gas Disclosures (Unaudited) (Tables)
12 Months Ended
Mar. 31, 2020
Supplemental Oil And Gas Disclosures  
Schedule of proved developed, proved undeveloped and probable undeveloped reserves

The following tables sets forth the changes in Camber’s net proved reserves (including developed and undeveloped reserves) for the years ended March 31, 2020 and 2019. Reserves estimates as of March 31, 2020 and 2019, respectively, were estimated by the independent petroleum consulting firm Graves & Co. Consulting LLC:

 

    March 31,  
    2020     2019  
Crude Oil (Bbls)                
Net proved reserves at beginning of year     124,524       129,573  
Revisions of previous estimates     (64,275 )     (3,868 )
Purchases in place            
Extensions, discoveries and other additions            
Sales in place           (75 )
Production     (5,399 )     (8,846 )
Net proved reserves at end of year     54,850       124,520  
                 
Natural Gas (Mcf)                
Net proved reserves at beginning of year     208,710       8,147,168  
Revisions of previous estimates     18,005       (7,609,052 )
Purchases in place            
Extensions, discoveries and other additions            
Sales in place           (7,983 )
Production     (18,892 )     (321,423 )
Net proved reserves at end of year     207,823       208,710  
                 
NGL (Bbls)                
Net proved reserves at beginning of year     44,110       1,435,703  
Revisions of previous estimates     4,381       (1,338,916
Purchases in place            
Extensions, discoveries and other additions            
Sales in place           (1,418 )
Production     (4,536 )     (51,269 )
Net proved reserves at end of year     43,955       44,100  
                 
Oil Equivalents (Boe)                
Net proved reserves at beginning of year     203,406       2,923,138  
Revisions of previous estimates     (56,880 )     (2,603,224 )
Purchases in place            
Extensions, discoveries and other additions            
Sales in place           (2,823 )
Production     (13,084 )     (113,685 )
Net proved reserves at end of year     133,442       203,406  

 

The following table sets forth Camber’s proved developed and undeveloped reserves at March 31, 2020 and 2019:

  

    At March 31,  
    2020     2019  
Proved Developed Producing Reserves                
Crude Oil (Bbls)     54,850       76,490  
Natural Gas (Mcf)     207,823       208,710  
NGL (Bbls)     43,955       44,100  
Oil Equivalents (Boe)     133,442       155,376  
                 
Proved Developed Non-Producing Reserves                
Crude Oil (Bbls)           48,030   
Natural Gas (Mcf)            
NGL (Bbls)            
Oil Equivalents (Boe)           48,030   
                 
Proved Undeveloped Reserves                
Crude Oil (Bbls)            
Natural Gas (Mcf)            
NGL (Bbls)            
Oil Equivalents (Boe)            
                 
Proved Reserves                
Crude Oil (Bbls)     54,850       124,520  
Natural Gas (Mcf)     207,823       208,710  
NGL (Bbls)     43,955       44,100  
Oil Equivalents (Boe)     133,442       203,406  

 

The following table sets forth Camber’s net reserves in Boe by reserve category and by formation at March 31, 2020 and 2019: 

 

   

Proved

Developed

  Proved
Non-Producing
 

Proved

Undeveloped

 

Total

Proved

 
Hutchinson Area                          
At March 31, 2020                  
At March 31, 2019     18,200     48,030         66,230  
Trend Area                          
At March 31, 2020     133,442             133,442  
At March 31, 2019     132,361             132,361  
Other                          
At March 31, 2020                  
At March 31, 2019     4,815             4,815  
Total                          
At March 31, 2020     133,442             133,442  
At March 31, 2019     155,376     48,030         203,406  

Schedule of net capitalized costs being amortized

The following table sets forth the capitalized costs relating to Camber’s crude oil and natural gas producing activities at March 31, 2020 and 2019:

 

    At March 31,  
    2020     2019  
 Oil and gas properties subject to amortization   $ 50,352,033     $ 50,352,306  
 Oil and gas properties not subject to amortization     28,016,989       28,016,989  
 Capitalized asset retirement costs     91,850       176,649  
 Total oil & natural gas properties     78,460,872       78,545,944  
 Accumulated depreciation, depletion, and impairment     (78,350,605 )     (78,333,628 )
 Net Capitalized Costs   $ 110,267     $ 212,316  

Schedule of costs incurred in oil and natural gas property acquisition, exploration and development activities

The following table sets forth the costs incurred in Camber’s oil and natural gas property acquisition, exploration and development activities for the years ended March 31, 2020 and 2019: 

 

    2020     2019  
Acquisition of properties                
 Proved   $     $  
 Unproved            
 Exploration costs            
 Development costs           1,548,953  
 Total   $     $ 1,548,953  

Schedule of results of operations for oil and natural gas producing activities

The following table sets forth the results of operations for oil and natural gas producing activities for the years ended March 31, 2020 and 2019:

 

    2020     2019  
 Crude oil and natural gas revenues   $ 397,118     $ 2,742,102  
 Production costs     (494,096 )     (3,003,901 )
 Depreciation and depletion     (16,977 )     (473,521 )
 Results of operations for producing activities,  excluding corporate overhead and interest costs   $ (113,955 )   $ (735,320 )

Schedule of standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves

The following table sets forth the standardized measure of discounted future net cash flows from projected production of Camber’s oil, NGL, and natural gas reserves as of March 31, 2020 and 2019:

 

    At March 31,  
    2020     2019  
 Future cash inflows   $ 4,069,441     $ 9,223,561  
 Future production costs     (1,832,098 )     (4,073,084 )
 Future development costs           (595,000 )
 Future income taxes     (469,846 )     (956,650 )
 Future net cash flows     1,767,497       3,598,827  
 Discount to present value at 10% annual rate     (803,608 )     (1,520,346 )
 Standardized measure of discounted future net  cash flows relating to proved oil and gas reserves   $ 963,889     $ 2,078,481  

Schedule of changes in the standardized measure of discounted future net cash flows

The following table sets forth the changes in the standardized measure of discounted future net cash flows for each of the years ended March 31, 2020 and 2019: 

 

    2020     2019  
 Standardized measure, beginning of year   $ 2,078,481     $ 7,468,115  
 Crude oil and natural gas sales, net of production costs     96,978       260,928  
 Net changes in prices and production costs     (408,944 )     1,842,171  
 Changes in estimated future development costs     (324,481 )     344,759  
 Revisions of previous quantity estimates     (145,373 )     17,112,424  
 Accretion of discount     122,014       263,955  
 Net change in income taxes     304,877       3,460,184  
 Purchases of reserves in place            
 Sales of reserves in place           (10,083 )
 Change in timing of estimated future production     (759,663 )     (28,663,972 )
 Standardized measure, end of year   $ 963,889     $ 2,078,481