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SEGMENTS AND MAJOR CUSTOMERS | 12 Months Ended
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Dec. 31, 2011
SEGMENTS AND MAJOR CUSTOMERS [Abstract] |
SEGMENTS AND MAJOR CUSTOMERS | L. SEGMENTS AND MAJOR CUSTOMERS During the years ended December 31, 2011, 2010, and 2009, USE, for financial reporting purposes, operated two business segments, the exploration for and sale of oil and gas, and mining. USE's operating segments are reflected in the tables below:
|  | (In thousands) |
|  | For the years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Revenues: |  |  |  |  |  |  |  |  |
Oil and gas |  | $ | 30,110 |  |  | $ | 24,667 |  |  | $ | 7,581 |
Total revenues: |  |  | 30,110 |  |  |  | 24,667 |  |  |  | 7,581 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas |  |  | 25,549 |  |  |  | 16,683 |  |  |  | 6,124 |
Mineral properties |  |  | 2,364 |  |  |  | 1,878 |  |  |  | 1,959 |
Total operating expenses: |  |  | 27,913 |  |  |  | 18,561 |  |  |  | 8,083 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas |  |  | 268 |  |  |  | -- |  |  |  | -- |
Mineral properties |  |  | 36 |  |  |  | 48 |  |  |  | 60 |
Total interest expense: |  |  | 304 |  |  |  | 48 |  |  |  | 60 |
Operating (loss) income |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas |  | $ | 4,293 |  |  | $ | 7,984 |  |  | $ | 1,457 |
Mineral properties |  |  | (2,400 | ) |  |  | (1,926 | ) |  |  | (2,019 | )
Operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |
from identified segments |  |  | 1,893 |  |  |  | 6,058 |  |  |  | (562 | )
General and administrative expenses |  |  | (8,261 | ) |  |  | (8,973 | ) |  |  | (9,433 | )
Add back interest expense |  |  | 304 |  |  |  | 48 |  |  |  | 60 |
Other revenues and expenses: |  |  | 131 |  |  |  | 1,549 |  |  |  | (1,331 | )
(Loss) income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
and discontinued operations |  | $ | (5,933 | ) |  | $ | (1,318 | ) |  | $ | (11,266 | )
Depreciation depletion and amortization expense: |
Oil and gas |  | $ | 13,997 |  |  | $ | 10,610 |  |  | $ | 1,045 |
Mineral properties |  |  | 102 |  |  |  | 77 |  |  |  | 54 |
Corporate |  |  | 494 |  |  |  | 380 |  |  |  | 396 |
Total depreciation expense |  | $ | 14,593 |  |  | $ | 11,067 |  |  | $ | 1,495 |
|  | (In thousands) |
|  | December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Assets by segment |  |  |  |  |  |  |  |  |
Oil and Gas |  | $ | 109,141 |  |  | $ | 75,639 |  |  | $ | 30,016 |
Mineral |  |  | 20,755 |  |  |  | 20,800 |  |  |  | 21,998 |
Corporate |  |  | 32,543 |  |  |  | 59,577 |  |  |  | 94,709 |
Total assets |  | $ | 162,439 |  |  | $ | 156,016 |  |  | $ | 146,723 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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