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Significant Concentrations | 12 Months Ended
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Dec. 31, 2014
Risks and Uncertainties [Abstract] |
Significant Concentrations | Significant Concentrations Major customers. For the years ended December 31, 2014, 2013 and 2012, sales to Musket Corporation accounted for approximately 13%, 11% and 10% of our total sales, respectively. No other purchasers accounted for more than 10% of the Company’s total sales for the years ended December 31, 2014, 2013 and 2012. Total sales include revenues from the Company’s exploration and production segment only, as OWS and OMS provide services to OPNA. Substantially all of the Company’s accounts receivable result from sales of oil and natural gas as well as joint interest billings (“JIB”) to third-party companies who have working interest payment obligations in projects completed by the Company. Statoil Oil & Gas LP, Continental Resources, Inc. and Slawson Exploration Company, Inc. accounted for approximately 16%, 14% and 13%, respectively, of the Company’s JIB receivables balance at December 31, 2014. Statoil Oil & Gas LP and Continental Resources, Inc. accounted for approximately 15% and 10%, respectively, of the Company’s JIB receivables balance at December 31, 2013. This concentration of customers and joint interest owners may impact the Company’s overall credit risk, either positively or negatively, in that these entities may be similarly affected by changes in economic or other conditions, including the current downturn in oil prices. Management believes that the loss of any of these purchasers would not have a material adverse effect on the Company’s operations, as there are a number of alternative oil and natural gas purchasers in the Company’s producing regions.

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