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Equity Investment in Savoy (Tables) | 12 Months Ended
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Dec. 31, 2014
Schedule of Costs Incurred | The data below is shown proportionate to our 40% (45% in 2013) ownership of Savoy.
Costs incurred are as follows: |  | 2014 |  |  | 2013 |  |
Unproved property acquisition |  | $ | 899 |  |  | $ | 1,287 |  |
Development |  |  | 1,224 |  |  |  | 858 |  |
Exploration |  |  | 5,130 |  |  |  | 7,061 |  |
Total |  | $ | 7,253 |  |  | $ | 9,206 |  |
Results of Operations for Oil and Gas Producing Activities |
|  |  | Oil |  |  | NGLs |  |  |  | Natgas |
|  |  | (Bbls) |  |  | (Bbls) |  |  |  | (Mcf) |
Change in proved reserves: |  |  |  |  |  |  |  |  |  |  |  |
January 1, 2013 |  |  | 700 |  |  |  | 29 |  |  |  | 1,108 |
Extensions and discoveries |  |  | 898 |  |  |  | 58 |  |  |  | 442 |
Production |  |  | (153 | ) |  |  | (11 | ) |  |  | (96 | )
Revisions to previous estimates |  |  | 24 |  |  |  | 23 |  |  |  | (153 | )
December 31, 2013 |  |  | 1,469 |  |  |  | 99 |  |  |  | 1,301 |
Extensions and discoveries |  |  | 262 |  |  |  | 14 |  |  |  | 253 |
Production |  |  | (143 | ) |  |  | (9 | ) |  |  | (83 | )
Revisions to previous estimates |  |  | (840 | ) |  |  | (60 | ) |  |  | (956 | )
Change in ownership from 45% to 40% |  |  | (73 | ) |  |  | (5 | ) |  |  | (65 | )
December 31, 2014 |  |  | 675 |  |  |  | 39 |  |  |  | 450 |
Proved developed reserves included above: |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2013 |  |  | 746 |  |  |  | 60 |  |  |  | 450 |
December 31, 2014 |  |  | 467 |  |  |  | 30 |  |  |  | 292 |
Proved undeveloped reserves (PUDs) included above: |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2013 |  |  | 723 |  |  |  | 39 |  |  |  | 851 |
December 31, 2014 |  |  | 208 |  |  |  | 9 |  |  |  | 158 |
Proved Reserves Cash Flows | FOR INFORMATION PURPOSES ONLY
|  | Proved |  |  |  |  |  | Total |
December 31, 2014 based on current and future NYMEX strip prices |  | Developed |  |  | PUDs |  |  | Proved |
Future cash inflows: |  |  |  |  |  |  |  |  |
Oil |  | $ | 24,768 |  |  | $ | 12,239 |  |  | $ | 37,007 |
NGLs |  |  | 785 |  |  |  | 252 |  |  |  | 1,037 |
Natgas |  |  | 915 |  |  |  | 683 |  |  |  | 1,598 |
Total cash inflows |  |  | 26,468 |  |  |  | 13,174 |  |  |  | 39,642 |
Future production costs |  |  | (9,462 | ) |  |  | (3,398 | ) |  |  | (12,860 | )
Future development costs |  |  | (58 | ) |  |  | (1,800 | ) |  |  | (1,858 | )
Future income tax (none since Savoy is a pass-through entity for income tax purposes) |  |  |  |  |  |  |  |  |  |  |  |
Future net cash flows |  |  | 16,948 |  |  |  | 7,976 |  |  |  | 24,924 |
10% annual discount for estimated timing of cash flows |  |  | (3,608 | ) |  |  | (2,336 | ) |  |  | (5,944 | )
Discounted future net cash flows |  | $ | 13,340 |  |  | $ | 5,640 |  |  | $ | 18,980 |
|  | Proved |  |  |  |  |  | Total |
December 31, 2014 based on SEC first-of-month average prices |  | Developed |  |  | PUDs |  |  | Proved |
Future cash inflows: |  |  |  |  |  |  |  |  |
Oil |  | $ | 41,660 |  |  | $ | 18,530 |  |  | $ | 60,190 |
NGLs |  |  | 1,256 |  |  |  | 368 |  |  |  | 1,624 |
Natgas |  |  | 1,203 |  |  |  | 721 |  |  |  | 1,924 |
Total cash inflows |  |  | 44,119 |  |  |  | 19,619 |  |  |  | 63,738 |
Future production costs |  |  | (12,886 | ) |  |  | (3,749 | ) |  |  | (16,635 | )
Future development costs |  |  | (60 | ) |  |  | (1,790 | ) |  |  | (1,850 | )
Future income tax (none because Savoy is a pass-through entity for income tax purposes) |  |  |  |  |  |  |  |  |  |  |  |
Future net cash flows |  |  | 31,173 |  |  |  | 14,080 |  |  |  | 45,253 |
10% annual discount for estimated timing of cash flows |  |  | (7,125 | ) |  |  | (4,028 | ) |  |  | (11,153 | )
Standardized measure of discounted future net cash flows |  | $ | 24,048 |  |  | $ | 10,052 |  |  | $ | 34,100 |
|  | Proved |  |  |  |  |  | Total |
December 31, 2013 based on SEC first-of-month average prices |  | Developed |  |  | PUDs |  |  | Proved |
Future cash inflows: |  |  |  |  |  |  |  |  |
Oil |  | $ | 70,582 |  |  | $ | 70,662 |  |  | $ | 141,244 |
NGLs |  |  | 2,551 |  |  |  | 1,669 |  |  |  | 4,220 |
Natgas |  |  | 1,365 |  |  |  | 976 |  |  |  | 2,341 |
Total cash inflows |  |  | 74,498 |  |  |  | 73,307 |  |  |  | 147,805 |
Future production costs |  |  | (12,213 | ) |  |  | (12,233 | ) |  |  | (24,446 | )
Future development costs |  |  |  |  |  |  | (3,073 | ) |  |  | (3,073 | )
Future income tax (none because Savoy is a pass-through entity for income tax purposes) |  |  |  |  |  |  |  |  |  |  |  |
Future net cash flows |  |  | 62,285 |  |  |  | 58,001 |  |  |  | 120,286 |
10% annual discount for estimated timing of cash flows |  |  | (14,375 | ) |  |  | (15,111 | ) |  |  | (29,486 | )
Standardized measure of discounted future net cash flows |  | $ | 47,910 |  |  | $ | 42,890 |  |  | $ | 90,800 |
Carrying Value and Average Wellhead Prices |
|  |  | 2014 |  |  |  | 2013 |
Beginning of year |  | $ | 90,800 |  |  | $ | 35,300 |
Sales, net of production costs |  |  | (11,000 | ) |  |  | (12,600 | )
Net changes in prices and production costs |  |  | (5,700 | ) |  |  | 1,600 |
Extensions and discoveries |  |  | 13,300 |  |  |  | 57,200 |
Revisions of previous quantity estimates |  |  | (61,000 | ) |  |  | 2,100 |
Change in production timing and other |  |  | 3,100 |  |  |  | 3,700 |
Change in ownership from 45% to 40% |  |  | (4,500 | ) |  |  |  |
Accretion of discount |  |  | 9,100 |  |  |  | 3,500 |
End of year |  | $ | 34,100 |  |  | $ | 90,800 |
Average wellhead prices based on SEC average prices: |  |  |  |  |  |  |
Oil (per Bbl) |  | $ | 89 |  |  | $ | 95
NGLs (per Bbl) |  |  | 41 |  |  |  | 42
Natgas (per Mcf) |  |  | 4.27 |  |  |  | 3.04
Average wellhead prices based on NYMEX strip prices: |  |  |  |  |  |  |
Oil (per Bbl) |  |  | 59 |  |  |  |
NGLs (per Bbl) |  |  | 28 |  |  |  |
Natgas (per Mcf) |  |  | 3.94 |  |  |  |
Savoy [Member] |
Condensed Balance Sheet | Below (in thousands) to the 100% is a condensed balance sheet at December 31, for both years and a condensed statement of operations for both years.
Condensed Balance Sheet
|  | 2014 |  |  | 2013 |
Current assets |  | $ | 14,863 |  |  | $ | 29,182 |
Oil and gas properties, net |  |  | 27,549 |  |  |  | 25,408 |
Other |  |  | 852 |  |  |  | 260 |
|  | $ | 43,264 |  |  | $ | 54,850 |
Total liabilities |  | $ | 10,079 |  |  | $ | 16,447 |
Partners' capital |  |  | 33,185 |  |  |  | 38,403 |
|  | $ | 43,264 |  |  | $ | 54,850 |
Condensed Statement of Operations |
Condensed Statement of Operations
|  | 2014 |  |  | 2013 |
Revenue |  | $ | 41,583 |  |  | $ | 42,248 |
Expenses |  |  | (29,354 | ) |  |  | (29,322 | )
Net income |  | $ | 12,229 |  |  | $ | 12,926 |

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- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=8451751&loc=d3e63042-109448 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62059-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62038-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62014-109447 + Details
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