Property and Equipment

6 Months Ended

Jun. 30, 2013

Property Plant And Equipment [Abstract]

(5) Property and Equipment:

Property and equipment at June 30, 2013 and December 31, 2012 consisted of the following:


(Thousands of dollars)	June 30, 2013			December 31, 2012
Proved oil and gas properties, at cost	$	349,377		$	338,204
Less: Accumulated depletion and depreciation		(160,003	)		(150,276	)

Oil and Gas Properties, Net	$	189,374		$	187,928

Field and office equipment	$	25,398		$	23,974
Less: Accumulated depreciation		(15,562	)		(15,052	)

Field and Office Equipment, Net	$	9,836		$	8,922

Total Property and Equipment, Net	$	199,210		$	196,850

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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