XML 72 R43.htm IDEA: XBRL DOCUMENT v3.3.1.900
Supplemental Information on Oil and Gas Exploration and Productions Activities (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2015
Extractive Industries [Abstract]  
Summary of Capitalized Costs
Capitalized Costs (in thousands):
 
For the Years  Ended
December 31,
 
2015
 
2014
Proven properties
$
199,404

 
$
392,153

Unproven properties
—

 
46,400

Total property, plant, and equipment
199,404

 
438,553

Accumulated depreciation, depletion, and amortization
(60,542
)
 
(18,993
)
Net capitalized costs
$
138,862

 
$
419,560
Costs Incurred for Property Acquisition Exploration and Development
Costs incurred for property acquisitions, exploration, and development (in thousands):
 
For the Years  Ended
December 31,
 
2015
 
2014
Property acquisitions
 
 
 
Proven properties
$
—

 
$
298,627

Unproven properties
—

 
40,800

Development
29,080

 
5,340

Total
$
29,080

 
$
344,767
Results of Operations for Producing Activities
Results of Operations for Producing Activities (in thousands):
 
For the Years  Ended
December 31,
 
2015
 
2014
Production revenue
$
49,201

 
$
48,834

Royalty and overriding royalty revenue (1)
4,364

 
10,732

Total oil and gas related revenue
53,565

 
59,566

Operating costs and expense:
 
 
 
Depreciation, depletion and amortization
40,772

 
23,936

Property, franchise and other taxes
5,210

 
5,529

Production costs
12,871

 
12,544

Impairment of oil and gas properties
367,576

 
—

Total operating costs and expense
426,429

 
42,009

Total income from operations
$
(372,864
)
 
$
17,557

 
(1)
Includes $0.4 million and $1.9 million for the years ended December 31, 2015 and 2014, respectively of nonproduction revenues including lease bonus payments
Summary of Estimated Proved Reserves and Related Standardized Measure of Discounted Cash Flows by Reserve Category
The following tables shows our estimated domestic proved reserves and reserve additions and revisions:
 
 
Crude
Oil
(MBbl)
 
NGLs
(MBbl)
 
Natural
Gas
(MMcf)(2)
 
Total
Proved
Reserves
(MBoe)(3)
December 31, 2014
 
9,983

 
1,229

 
14,370

 
13,607

Revisions of previous estimates
 
(1,451
)
 
89

 
701

 
(1,244
)
Extensions, discoveries and other additions
 
776

 
60

 
541

 
926

Sales of properties
 
(98
)
 
—

 
(62
)
 
(108
)
Production
 
(1,136
)
 
(156
)
 
(2,226
)
 
(1,663
)
December 31, 2015 (1)
 
8,074

 
1,222

 
13,324

 
11,518

 
 
 
 
 
 
 
 
 
Proved developed reserves as of December 31, 2015
 
7,862

 
1,196

 
13,157

 
11,251

Proved undeveloped reserves as of December 31, 2015
 
212

 
26

 
167

 
267

 
 
 
 
 
 
 
 
 
Proved developed reserves as of December 31, 2014
 
8,930

 
1,098

 
13,161

 
12,221

Proved undeveloped reserves as of December 31, 2014
 
1,053

 
131

 
1,209

 
1,386


(1)
Includes reserves attributable to the Partnership's 51% member interest in BRP LLC.
(2)
Natural gas is converted on the basis of six Mcf of gas per one Bbl of oil equivalent. This ratio reflects an energy content equivalency and not a price or revenue equivalency.
(3)
Includes 10,063MBoe of estimated proved reserves attributable to the Partnership’s non-operated working interests in oil and natural gas properties in the Williston Basin, approximately 3% of which were proved undeveloped reserves.
Standardized Measure of Discounted Future Net Cash Flows
The standardized measure of discounted future net cash flows from our estimated proved oil and gas reserves is as follows (in thousands):
 
For the Years  Ended
December 31,
 
2015
 
2014
Future cash inflows
$
364,352

 
$
920,454

Less related future:
 
 


Production costs
(164,649
)
 
(312,666
)
Development and abandonment costs
(7,826
)
 
(20,072
)
Future net cash flows before 10% discount
191,877

 
587,716

Discount to present value at a 10% annual rate
(75,524
)
 
(282,519
)
Total standardized measure of discounted net cash flows
$
116,353

 
$
305,197



The table below is a summary of the changes in the standardized measure of discounted future net cash flows for our proved oil and gas reserves during the year ended December 31, 2015 (in thousands):
Beginning of the period
$
305,197

Revisions to previous estimates:
 
Changes in prices and costs
(188,946
)
Changes in quantities
(11,750
)
Changes in future development costs
(12,202
)
Previously estimated development costs incurred during the period
29,080

Additions to proved reserves from extensions, discoveries and improved recovery, less related costs
11,928

Purchases and sales of reserves in place, net
(3,851
)
Accretion of discount
31,795

Sales of oil and gas, net of production costs
(35,112
)
Production timing and other
(9,786
)
Net increase (decrease)
(188,844
)
End of period
$
116,353