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Oil And Gas Properties
 6 Months Ended
Jun. 30, 2016
Oil And Gas Properties [Abstract]  
Oil And Gas Properties

(6)  Oil and Gas Properties



The following table sets forth information concerning the Company’s oil and gas properties (in thousands):







 

 

 

 

 

 



 

 

 

 

 

 



 

June 30,

 

December 31,



 

2016

 

2015

Oil and gas properties, at cost

 

$

 5,898 

 

$

 8,286 

Unevaluated properties

 

 

 552 

 

 

 552 

Oil and gas properties

 

$

 6,450 

 

$

 8,838 



The Company recorded depletion expense of $583,000 and $1,360,000 for the six months ended June 30, 2016 and 2015, respectively.  In addition, during the six months ended June 30, 2016, the Company recorded an impairment of oil and gas properties in the amount of $2,086,000.  No impairment of oil and gas properties was recorded during the six months ended June 30, 2015.  As a result of the ceiling test impairment, the accumulated depreciation, depletion, and amortization has been netted against the cost to reflect the post impairment value of the oil and gas properties.