XML 50 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
SEGMENTS AND MAJOR CUSTOMERS
 12 Months Ended
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