Segment Information (Tables)

9 Months Ended

Sep. 30, 2012

Summary of result of operations and total assets by segment

As of September 30, 2012, we had two reportable segments: Oil and Gas and Maintenance of Mineral Properties. A summary of results of operations for the nine months ended September 30, 2012, and 2011, and total assets as of September 30, 2012 and December 31, 2011 by segment are as follows:

	(In thousands)						(In thousands)
	For the three months ended September 30,						For the nine months ended September 30,
	2012			2011			2012			2011
Revenues:
Oil and gas	$	7,639		$	8,408		$	24,496		$	22,112
Total revenues:		7,639			8,408			24,496			22,112

Operating expenses:
Oil and gas		5,924			6,505			19,569			18,444
Mineral properties		1,009			763			2,270			1,770
Total operating expenses:		6,933			7,268			21,839			20,214

Interest expense
Oil and gas		45			52			103			81
Mineral properties		6			9			18			27
Total interest expense:		51			61			121			108

Operating (loss) income
Oil and gas	$	1,670		$	1,851		$	4,824		$	3,587
Mineral properties		(1,015	)		(772	)		(2,288	)		(1,797	)
Operating income (loss)
from identified segments		655			1,079			2,536			1,790

General and administrative expenses		(3,415	)		(1,829	)		(7,069	)		(6,378	)
Add back interest expense		51			61			121			108
Other revenues and expenses:		(446	)		1,711			1,048			909

(Loss) income before income taxes	$	(3,155	)	$	1,022		$	(3,364	)	$	(3,571	)

Depreciation depletion and amortization expense:
Oil and gas	$	3,410		$	3,862		$	11,081		$	9,767
Mineral properties		31			26			95			77
Corporate		120			121			365			371
Total depreciation expense	$	3,561		$	4,009		$	11,541		$	10,215

	(In thousands)
	September 30,		December 31,
	2012		2011
Assets by segment
Oil and gas	$	98,041	$	109,141
Mineral		20,754		20,755
Corporate		29,391		32,543
Total assets	$	148,186	$	162,439

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details