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Unsecured Revolving Credit Agreement (Details) - Texas Capital Bank, N.A. |  | 6 Months Ended |
--- | --- | --- | ---
Feb. 29, 2012 USD ($) | Dec. 31, 2015 USD ($) | Dec. 31, 2014 USD ($)
Revolving credit facility |  |  |
Unsecured Revolving Credit Agreement |  |  |
Maximum amount available under revolving credit facility | $ 50,000,000 |  |
Initial borrowing base | 5,000,000 | $ 5,000,000 |
Term of revolving credit facility |  | 4 years |
Value of oil and gas properties subject (as a percent) |  | 25.00% |
Commitment fee accruing on unutilized availability (as a percent) |  | 0.50% |
Loan costs to be compensated to lender over the life of the Credit Agreement |  | $ 50,000 |
Outstanding borrowings |  | 0 | $ 0
Debt issuance costs | 179,468 |  |
Unamortized debt issuance costs |  | 8,093 |
Revolving credit facility | Delhi field |  |  |
Unsecured Revolving Credit Agreement |  |  |
Deferred legals fee |  | 50,414 |
Costs incurred for title work related to the Dehli Field |  | $ 108,472 |
Revolving credit facility | Minimum |  |  |
Unsecured Revolving Credit Agreement |  |  |
Total funded indebtedness to EBITDA ratio |  | 3 |
Revolving credit facility | Maximum |  |  |
Unsecured Revolving Credit Agreement |  |  |
Current ratio |  | 1.5 |
Total funded indebtedness to EBITDA ratio |  | 2.5 |
EBITDA to interest expense ratio |  | 3 |
Revolving credit facility | LIBOR |  |  |
Unsecured Revolving Credit Agreement |  |  |
Variable interest rate basis |  | Adjusted LIBOR |
Interest period one |  | 1 month |
Interest period two |  | 2 months |
Interest period three |  | 3 months |
Interest period four |  | 6 months |
Term for payment of interest |  | 3 months |
Revolving credit facility | Prime rate |  |  |
Unsecured Revolving Credit Agreement |  |  |
Variable interest rate basis |  | Lender’s prime rate |
Revolving credit facility | Federal funds rate |  |  |
Unsecured Revolving Credit Agreement |  |  |
Variable interest rate basis |  | Federal Funds Rate |
Margin added to variable interest rate basis (as a percent) |  | 0.50% |
Letter of credit |  |  |
Unsecured Revolving Credit Agreement |  |  |
Maximum amount available under revolving credit facility | $ 1,000,000 |  |
Term of revolving credit facility |  | 1 year |
Letter of credit fees rate applied to principal amounts (as a percent) |  | 3.50% |
Outstanding borrowings |  | $ 0 | $ 0

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- Definition Represents the ratio of consolidated earnings before interest, taxes, depreciation and amortization to interest expense, which is necessary to be maintained under the terms of the covenants to the credit facility. + References No definition available. + Details
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- Definition Represents the ratio of consolidated total funded indebtedness to consolidated earnings before, interest, taxes, depreciation and amortization allowed under the covenants of the credit facility. + References No definition available. + Details
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- Definition Represents the amount to be compensated to the lender for incurred loan costs upon closing of Credit Agreement. + References No definition available. + Details
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- Definition Represents the percentage of the value of the oil and gas properties as a limitation of borrowing amount. + References No definition available. + Details
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- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 + Details
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- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
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- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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