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Hourglass Sands | 12 Months Ended
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Dec. 31, 2018
Acquisition [Abstract] |
Hourglass Sands | ﻿ (15) Hourglass Sands ﻿ In February 2018, we invested $4 million in Hourglass Sands, LLC (Hourglass), a frac sand mining company in the State of Colorado. We own 100% of the Class A units and are consolidating the activity of Hourglass in these statements. Class A units are entitled to 100% of profit until our capital investment and interest is returned, then 90% of profits are allocated to us with remainder to Class B units. We do not own any Class B units. In February 2018, a Yorktown company associated with one of our directors also invested $4 million in Hourglass in return for a royalty interest in Hourglass. This investment coupled with our $4 million investment brings the initial capitalization of Hourglass to $8 million. We report the royalty interest as a redeemable noncontrolling interest in the consolidated balance sheets. A representative of the Yorktown company holds a seat on the board of managers, and, with a change of control, the Yorktown company may be entitled to receive a portion of the net proceeds realized, as prescribed in the Hourglass operating agreement. Below is a condensed Hourglass balance sheet and a condensed statement of operations as of December 31, 2018 Current assets include cash totaling $2.9 million and sand inventory totaling $1.3 million. Expenses are included in operating costs and expenses, exploration costs, and SG&A in our consolidated statements of comprehensive income. Condensed Balance Sheet
﻿ |  |  |  |
﻿Current assets |  | $ | 4,241 |
﻿Property and equipment |  |  | 3,092 |
﻿Total assets |  | $ | 7,333 |
﻿Total liabilities |  | $ | 502 |
﻿Redeemable noncontrolling interests |  |  | 4,000 |
﻿Members' equity |  |  | 2,831 |
﻿Total liabilities and equity |  | $ | 7,333 |
﻿ Condensed Statement of Operations
﻿ |  |  |  |
﻿Revenue |  | $ | 255 |
﻿Expenses |  |  | 1,424 |
﻿Net loss |  | $ | (1,169 | )
﻿

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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