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Supplemental Oil And Gas Information | 12 Months Ended
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Dec. 31, 2017
Supplemental Oil And Gas Information [Abstract] |
Supplemental Oil And Gas Information | 15. Supplemental Oil and Gas Information (unaudited) ﻿ Information with respect to the Company’s oil and gas producing activities is presented in the following tables. Estimates of reserves quantities, as well as future production and discounted cash flows before income taxes, were determined by LaRoche Petroleum Consultants Ltd. All of the Company’s reserves were located in the United States. ﻿ Capitalized Costs Related to Oil and Gas Producing Activities ﻿ The table below reflects our capitalized costs related to our oil and gas producing activities at December 31, 2017 and 2016 (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿ |  | 2017 |  | 2016
﻿Proved oil and gas properties |  | $ | 5,704 |  | $ | 5,315
﻿Unproved properties |  |  | — |  |  | 106
﻿Total proved and unproved oil and gas properties |  | $ | 5,704 |  | $ | 5,421
﻿Less accumulated depreciation, depletion and amortization |  |  | (984) |  |  | (196)
﻿Net oil and gas properties |  | $ | 4,720 |  | $ | 5,225
﻿ As a result of the ceiling test impairments during 2015 and the first three quarters of 2016, the accumulated depreciation, depletion, and amortization was been netted against the cost to reflect the post impairment value of the oil and gas properties. As no ceiling test impairment was recorded during the quarter ended December 31, 2016, nor during any of the quarters ended in 2017, these amounts were not netted against cost, but remained in accumulated depreciation, depletion, and amortization at December 31, 2017 and December 31, 2016. ﻿ Oil and Gas Related Costs ﻿ The following table sets forth information concerning costs incurred, including accruals, related to the Company’s oil and gas property acquisition, exploration and development activities (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿ |  | 2017 |  | 2016 |  | 2015
﻿Property acquisitions proved |  | $ | — |  | $ | — |  | $ | —
﻿Property acquisitions unproved |  |  | 93 |  |  | 8 |  |  | 90
﻿Exploration cost |  |  | 69 |  |  | 396 |  |  | 22
﻿Development cost |  |  | — |  |  | — |  |  | 252
﻿Total |  | $ | 162 |  | $ | 404 |  | $ | 364
Results of Operations from Oil and Gas Producing Activities ﻿ The following table sets forth the Company’s results of operations from oil and gas producing activities (in thousands): ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿ |  | 2017 |  | 2016 |  | 2015
﻿Revenues |  | $ | 4,683 |  | $ | 4,113 |  | $ | 5,631
﻿Production costs and taxes |  |  | (3,444) |  |  | (3,064) |  |  | (3,731)
﻿Depreciation, depletion and amortization |  |  | (796) |  |  | (1,009) |  |  | (2,538)
﻿Impairment |  |  | — |  |  | (2,805) |  |  | (14,526)
﻿Income (loss) from oil and gas producing activities |  | $ | 443 |  | $ | (2,765) |  | $ | (15,164)
﻿ In the presentation above, no deduction has been made for indirect costs such as general corporate overhead or interest expense. No income taxes are reflected above due to the Company’s operating tax loss carry-forward position. ﻿ Estimated Quantities of Oil and Gas Reserves ﻿ The following table sets forth the Company’s net proved oil and gas reserves and the changes in net proved oil and gas reserves for the years ended December 31, 2015, 2016 and 2017. All of the Company’s proved reserves are located in the United States of America. ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | Oil (MBbl) |  | Gas (MMcf) |  | MBOE
﻿Proved reserves at December 31, 2014 |  | 1,797 |  | — |  | 1,797
﻿Revisions of previous estimates |  | (790) |  | — |  | (790)
﻿Improved recovery |  | — |  | — |  | —
﻿Purchase of reserves in place |  | — |  | — |  | —
﻿Extensions and discoveries |  | 1 |  | — |  | 1
﻿Production |  | (131) |  | — |  | (131)
﻿Sales of reserves in place |  | — |  | — |  | —
﻿Proved reserves at December 31, 2015 |  | 877 |  | — |  | 877
﻿Revisions of previous estimates |  | (36) |  | — |  | (36)
﻿Improved recovery |  | — |  | — |  | —
﻿Purchase of reserves in place |  | — |  | — |  | —
﻿Extensions and discoveries |  | 3 |  | — |  | 3
﻿Production |  | (108) |  | — |  | (108)
﻿Sales of reserves in place |  | (6) |  | — |  | (6)
﻿Proved reserves at December 31, 2016 |  | 730 |  | — |  | 730
﻿Revisions of previous estimates |  | 195 |  | — |  | 195
﻿Improved recovery |  | — |  | — |  | —
﻿Purchase of reserves in place |  | — |  | — |  | —
﻿Extensions and discoveries |  | 47 |  | — |  | 47
﻿Production |  | (102) |  | — |  | (102)
﻿Sales of reserves in place |  | — |  | — |  | —
﻿Proved reserves at December 31, 2017 |  | 870 |  | — |  | 870
﻿ |  |  |  |  |  |
﻿Proved developed reserves at: |  |  |  |  |  |
﻿December 31, 2014 |  | 1,438 |  | — |  | 1,438
﻿December 31, 2015 |  | 877 |  | — |  | 877
﻿December 31, 2016 |  | 730 |  | — |  | 730
﻿December 31, 2017 |  | 832 |  | — |  | 832
﻿ |  |  |  |  |  |
﻿Proved undeveloped reserves at: |  |  |  |  |  |
﻿December 31, 2014 |  | 359 |  | — |  | 359
﻿December 31, 2015 |  | — |  | — |  | —
﻿December 31, 2016 |  | — |  | — |  | —
﻿December 31, 2017 |  | 38 |  | — |  | 38
﻿ The Company’s Proved Undeveloped Reserves at December 31, 2017 included 3 locations, and December 31, 2016 and 2015 included no locations as compared to 27 locations at December 31, 2014. During 2016 and 2015, all Proved Undeveloped locations were removed from the Company’s Proved Reserves primarily due to the low oil prices experienced during these years. During 2017, increases in prices allowed the company to include 3 Proved Undeveloped locations in its December 31, 2017 reserves. ﻿ The following table identifies the reserve value by category and the respective present values, before income taxes, discounted at 10% as a percentage of total proved reserves (in thousands): ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended 12/31/2017 |  | Year Ended 12/31/2016 |  | Year Ended 12/31/2015
﻿ |  | Oil |  | Gas |  | Total |  | Oil |  | Gas |  | Total |  | Oil |  | Gas |  | Total
﻿Total proved reserves year-end reserve report |  | $ | 8,170 |  |  | — |  | $ | 8,170 |  | $ | 5,815 |  |  | — |  | $ | 5,815 |  | $ | 8,287 |  |  | — |  | $ | 8,287
﻿Proved developed producing reserves (PDP) |  | $ | 7,065 |  |  | — |  | $ | 7,065 |  | $ | 5,397 |  |  | — |  | $ | 5,397 |  | $ | 7,686 |  |  | — |  | $ | 7,686
﻿% of PDP reserves to total proved reserves |  |  | 87% |  |  | — |  |  | 87% |  |  | 93% |  |  | — |  |  | 93% |  |  | 93% |  |  | — |  |  | 93%
﻿Proved developed non- producing reserves |  | $ | 1,082 |  |  | — |  | $ | 1,082 |  | $ | 418 |  |  | — |  | $ | 418 |  | $ | 601 |  |  | — |  | $ | 601
﻿% of PDNP reserves to total proved reserves |  |  | 13% |  |  | — |  |  | 13% |  |  | 7% |  |  | — |  |  | 7% |  |  | 7% |  |  | — |  |  | 7%
﻿Proved undeveloped reserves (PUD) |  | $ | 23 |  |  | — |  | $ | 23 |  | $ | — |  |  | — |  | $ | — |  | $ | — |  |  | — |  | $ | —
﻿% of PUD reserves to total proved reserves |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Standardized Measure of Discounted Future Net Cash Flows ﻿ The standardized measure of discounted future net cash flows from the Company’s proved oil and gas reserves is presented in the following table (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿ |  | 2017 |  | 2016 |  | 2015
﻿Future cash inflows |  | $ | 39,889 |  | $ | 27,253 |  | $ | 38,566
﻿Future production costs and taxes |  |  | (23,343) |  |  | (16,270) |  |  | (23,500)
﻿Future development costs |  |  | (1,586) |  |  | (553) |  |  | (951)
﻿Future income tax expenses |  |  | — |  |  | — |  |  | —
﻿Future net cash flows |  |  | 14,960 |  |  | 10,430 |  |  | 14,115
﻿ |  |  |  |  |  |  |  |  |
﻿Discount at 10% for timing of cash flows |  |  | (6,790) |  |  | (4,615) |  |  | (5,828)
﻿Standardized measure of discounted future net cash flows |  | $ | 8,170 |  | $ | 5,815 |  | $ | 8,287
﻿ The following are the principal sources of change in the standardized measure of discounted future net cash flows from the Company’s proved oil and gas reserves (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿ |  | 2017 |  | 2016 |  | 2015
﻿Balance, beginning of year |  | $ | 5,815 |  | $ | 8,287 |  | $ | 34,531
﻿Sales, net of production costs and taxes |  |  | (1,239) |  |  | (2,037) |  |  | (1,901)
﻿Discoveries and extensions, net of costs |  |  | 123 |  |  | 35 |  |  | 5
﻿Purchase of reserves in place |  |  | — |  |  | — |  |  | —
﻿Sale of reserves in place |  |  | — |  |  | (10) |  |  | —
﻿Net changes in prices and production costs |  |  | 1,780 |  |  | (863) |  |  | (16,009)
﻿Revisions of quantity estimates |  |  | 1,611 |  |  | (412) |  |  | (22,431)
﻿Previously estimated development cost incurred during the year |  |  | — |  |  | — |  |  | —
﻿Changes in future development costs |  |  | (228) |  |  | 196 |  |  | 4,890
﻿Changes in timing and other |  |  | (164) |  |  | (20) |  |  | (56)
﻿Accretion of discount |  |  | 472 |  |  | 639 |  |  | 3,373
﻿Net change in income taxes |  |  | — |  |  | — |  |  | 5,885
﻿Balance, end of year |  | $ | 8,170 |  | $ | 5,815 |  | $ | 8,287
﻿ Estimated future net cash flows represent an estimate of future net revenues from the production of proved reserves using average sales prices, along with estimates of the operating costs, production taxes and future development and abandonment cost (less salvage value) necessary to produce such reserves. Future income taxes were calculated by applying the statutory federal and state income tax rates to pre-tax future net cash flows, net of the tax basis of the properties and utilizing available tax loss carryforwards related to oil and gas operations. The oil prices used for December 31, 2017, 2016, and 2015 were $45.83, and $37.35, and $43.98 per barrel of oil, respectively. The Company’s proved reserves as of December 31, 2017, 2016 and 2015 were measured by using commodity prices based on the twelve month unweighted arithmetic average of the first day of the month price for the period January through December. No deduction has been made for depreciation, depletion or any indirect costs such as general corporate overhead or interest expense.

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- Definition The entire disclosure for oil and gas producing industries. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e61555-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e61526-109447 + Details
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