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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2014
Summary of Significant Accounting Policies [Abstract] |
Components of property and equipment | Components of Property and Equipment as of June 30, 2014 and December 31, 2013 are as follows:
|  | (In thousands) |
|  | June 30, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Oil and Gas properties |  |  |  |  |  |
Unproved |  | $ | 10,894 |  |  | $ | 7,478 |
Exploratory wells in progress |  |  | 2,958 |  |  |  | -- |
Proved |  |  | 135,926 |  |  |  | 136,521 |
|  |  | 149,778 |  |  |  | 143,999 |
Less accumulated depreciation |  |  |  |  |  |  |  |
depletion and amortization |  |  | (63,954 | ) |  |  | (57,077 | )
Net book value |  |  | 85,824 |  |  |  | 86,922 |
Mineral properties |  |  | 21,942 |  |  |  | 20,739 |
Building, land and equipment |  |  | 8,345 |  |  |  | 8,334 |
Less accumulated depreciation |  |  | (4,272 | ) |  |  | (4,135 | )
Net book value |  |  | 4,073 |  |  |  | 4,199 |
Totals |  | $ | 111,839 |  |  | $ | 111,860
Mineral properties | Our carrying balance in the Mt. Emmons property at June 30, 2014 and December 31, 2013 is as follows:
|  | (In thousands) |
|  | June 30, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Costs associated with Mount Emmons |  |  |  |  |  |
beginning of year |  | $ | 20,739 |  |  | $ | 20,739 |
Property purchase (1) |  |  | 1,203 |  |  |  | -- |
Costs at the end of the period |  | $ | 21,942 |  |  | $ | 20,739 |
| (1) | On January 21, 2014, the Company acquired Thompson Creek Metals’ (“TCM”) 50% interest in 160 acres of fee land in the vicinity of the Mt. Emmons project mining claims for $1.2 million. The property was originally acquired jointly by the Company and TCM in January 2009.

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- Definition Tabular disclosure of the long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References No definition available. + Details
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- Definition Tabular disclosure of aggregate capitalized costs relating to mineral properties. + References No definition available. + Details
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- Details
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