XML 39 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Total Revenues $ 9,928 $ 8,582 $ 27,312 $ 24,376
Operating expenses:        
Oil and gas 3,028 2,877 7,586 8,241
Oil and gas depreciation, depletion and amortization 4,621 3,205 11,498 9,879
Impairment of oil and gas properties 0 0 0 5,828
Water treatment plant 491 394 1,400 1,214
Mineral holding costs 439 410 944 934
General and administrative 2,030 1,293 5,169 3,852
Total operating expenses 10,609 8,179 26,597 29,948
Income (loss) from operations (681) 403 715 (5,572)
Other income and (expenses):        
Realized (loss) gain on risk management activities (84) (307) (616) (274)
Unrealized gain (loss) on risk management activities 780 (768) 369 (1,056)
Gain on the sale of assets 0 19 28 729
Equity gain (loss) in unconsolidated investment 0 11 0 (40)
Miscellaneous income (10) 50 58 80
Interest income 1 1 3 4
Interest expense (69) (115) (314) (340)
Total other income and (expenses) 618 (1,109) (472) (897)
Income (loss) before income taxes and discontinued operation (63) (706) 243 (6,469)
Income taxes:        
Current (provision for) 0 0 0 0
Deferred benefit from 0 0 0 0
Total income taxes 0 0 0 0
Income (loss) from continuing operations (63) (706) 243 (6,469)
Discontinued operations:        
Discontinued operations, net of taxes 0 (8) 0 430
Loss on sale of discontinued operations, net of taxes 0 (120) 0 (120)
Total discontinued operations 0 (128) 0 310
Net income (loss) (63) (834) 243 (6,159)
Earnings (loss) per share basic and diluted        
Earnings (loss) from continuing operations (in dollars per share) $ 0 $ (0.03) $ 0.01 $ (0.23)
Earnings from discontinued operations (in dollars per share) $ 0 $ 0 $ 0 $ 0.01
Total Earnings (loss) per share basic and diluted $ 0 $ (0.03) $ 0.01 $ (0.22)
Weighted average shares outstanding        
Basic (in shares) 27,899,505 27,682,602 27,808,231 27,677,382
Diluted (in shares) 27,899,505 27,682,602 28,200,388 27,677,382
Oil sales [Member]
       
Total Revenues 8,682 8,000 24,205 22,802
Gas sales [Member]
       
Total Revenues 870 456 2,223 1,255
NGL sales [Member]
       
Total Revenues $ 376 $ 126 $ 884 $ 319