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Property and Equipment

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

(4) Property and Equipment:

Property and equipment at March 31, 2018 and December 31, 2017 consisted of the following:

(Thousands of dollars)		March 31, 2018				December 31, 2017
Proved oil and gas properties, at cost		$	483,488			$	476,570
Less: Accumulated depletion and depreciation			(267,377	)			(263,569	)
Oil and Gas Properties, Net		$	216,111			$	213,001
Field and office equipment		$	26,188			$	26,241
Less: Accumulated depreciation			(19,417	)			(19,267	)
Field and Office Equipment, Net		$	6,771			$	6,974
Total Property and Equipment, Net		$	222,882			$	219,975

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- References

No definition available.

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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