Property And Equipment

6 Months Ended

Jun. 30, 2011

(5) Property and Equipment:

Property and equipment at June 30, 2011 and December 31, 2010 consisted of the following:


	June 30, 2011		December 31, 2010
Proved oil and gas properties, at cost	$	466,899,000	$	453,145,000
Unproved oil and gas properties, at cost		103,000		698,000
Less: Accumulated depletion and depreciation		327,206,000		310,809,000

	$	139,796,000	$	143,034,000

Field service equipment and other	$	19,540,000	$	19,499,000
Less: Accumulated depreciation		12,925,000		12,705,000

	$	6,615,000	$	6,794,000

Total net property and equipment	$	146,411,000	$	149,828,000

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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