XML 48 R30.htm IDEA: XBRL DOCUMENT v3.19.1
Supplementary Information (Tables)
 12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Capitalized Costs Relating to Oil and Gas Producing Activities
OIL AND GAS PRODUCING ACTIVITIES
Years Ended December 31, 2018 and 2017
(Unaudited)
 
 
 
 
 
As of December 31,
 
(Thousands of dollars)
 
2018
 
 
2017
 
Proved Developed oil and gas properties
 
$
514,821
 
 
$
476,570
 
Proved Undeveloped oil and gas properties
 
 
—
 
 
 
—
 
Total Capitalized Costs
 
 
514,821
 
 
 
476,570
 
Accumulated depreciation, depletion and valuation allowance
 
 
291,152
 
 
 
263,569
 
Net Capitalized Costs
 
$
223,669
 
 
$
213,001
 
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities
COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION,
EXPLORATION AND DEVELOPMENT ACTIVITIES
Years Ended December 31, 2018 and 2017
(Unaudited)
 
 
 
Year Ended December 31,
 
(Thousands of dollars)
 
2018
 
 
2017
 
Development Costs
 
$
42,079
 
 
$
59,361
 
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES
Years Ended December 31, 2018 and 2017
(Unaudited)
 
 
 
As of December 31,
 
(Thousands of dollars)
 
2018
 
 
2017
 
Future cash inflows
 
$
518,783
 
 
$
384,198
 
Future production costs
 
 
(253,896
)
 
 
(175,099
)
Future development costs
 
 
(24,584
)
 
 
(34,798
)
Future income tax expenses
 
 
(38,589
)
 
 
(20,884
)
Future Net Cash Flows
 
 
201,714
 
 
 
153,417
 
10% annual discount for estimated timing of cash flows
 
 
(63,805
)
 
 
(46,503
)
Standardized Measure of Discounted Future Net Cash Flows
 
$
137,909
 
 
$
106,914
 
Standardized Measure of Discounted Future Net Cash Flows and Changes therein Relating to Proved Oil and Gas Reserves  
Reserve Quantity Information
RESERVE QUANTITY INFORMATION
Years Ended December 31, 2018 and 2017
(Unaudited)
 
 
 
As of December 31,
 
 
 
2018
 
 
2017
 
 
 
Oil

(MBbls)
 
 
NGLs

(MBbls)
 
 
Gas

(MMcf)
 
 
Oil

(MBbls)
 
 
NGLs

(MBbls)
 
 
Gas

(MMcf)
 
Proved Developed Reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning of year
 
 
5,333
 
 
 
1,704
 
 
 
17,143
 
 
 
3,107
 
 
 
1,265
 
 
 
13,001
 
Extensions, discoveries and improved recovery
 
 
1,389
 
 
 
511
 
 
 
2,832
 
 
 
2,263
 
 
 
488
 
 
 
3,253
 
Revisions of previous estimates
 
 
192
 
 
 
662
 
 
 
4,144
 
 
 
496
 
 
 
89
 
 
 
3,846
 
Converted from undeveloped reserves
 
 
605
 
 
 
258
 
 
 
870
 
 
 
383
 
 
 
103
 
 
 
476
 
Reserves sold
 
 
(3
)
 
 
—
 
 
 
(368
)
 
 
(2
)
 
 
—
 
 
 
(13
)
Reserve purchased
 
 
75
 
 
 
35
 
 
 
179
 
 
 
90
 
 
 
41
 
 
 
220
 
Production
 
 
(1,187
)
 
 
(463
)
 
 
(3,735
)
 
 
(1,004
)
 
 
(282
)
 
 
(3,640
)
End of year
 
 
6,404
 
 
 
2,707
 
 
 
21,065
 
 
 
5,333
 
 
 
1,704
 
 
 
17,143
 
Proved Undeveloped Reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning of year
 
 
505
 
 
 
156
 
 
 
709
 
 
 
643
 
 
 
159
 
 
 
2,003
 
Extensions, discoveries and improved recovery
 
 
212
 
 
 
216
 
 
 
446
 
 
 
298
 
 
 
118
 
 
 
335
 
Revisions of previous estimates
 
 
(102
)
 
 
(102
)
 
 
(161
)
 
 
(53
)
 
 
(18
)
 
 
(1,153
)
Converted to developed reserves
 
 
(605
)
 
 
(258
)
 
 
(870
)
 
 
(383
)
 
 
(103
)
 
 
(476
)
End of year
 
 
10
 
 
 
12
 
 
 
124
 
 
 
505
 
 
 
156
 
 
 
709
 
Total Proved Reserves at the End of the Year
 
 
6,414
 
 
 
2,719
 
 
 
21,189
 
 
 
5,838
 
 
 
1,860
 
 
 
17,852
 
Results of Operations from Oil and Gas Producing Activities
RESULTS OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES
Years Ended December 31, 2018 and 2017
(Unaudited)
 
 
 
Year Ended December 31,
 
(Thousands of dollars)
 
2018
 
 
2017
 
Revenue:
 
 
 
 
 
 
 
 
Oil and gas sales
 
$
93,215
 
 
$
66,883
 
Costs and Expenses:
 
 
 
 
 
 
 
 
Lease operating expenses
 
 
34,996
 
 
 
30,880
 
Depreciation, depletion and accretion
 
 
36,154
 
 
 
34,006
 
Income tax (benefit) expense
 
 
3,724
 
 
 
(7,753
)
Total Costs and Expenses
 
 
74,874
 
 
 
57,133
 
Results of Operations from Producing Activities (excluding corporate overhead and interest costs)
 
$
18,341
 
 
$
9,750