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Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment at September 30, 2020 and December 31, 2019 consisted of the following:

(Thousands of dollars)		September 30, 2020				December 31, 2019
Proved oil and gas properties, at cost		$	500,888			$	527,729
Less: Accumulated depletion and depreciation			(309,396	)			(322,409	)
Oil and Gas Properties, Net		$	191,492			$	205,320
Field and office equipment		$	28,254			$	27,542
Less: Accumulated depreciation			(21,827	)			(20,762	)
Field and Office Equipment, Net		$	6,427			$	6,780
Total Property and Equipment, Net		$	197,919			$	212,100

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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