XML 39 R28.htm IDEA: XBRL DOCUMENT
v2.4.1.9

SUPPLEMENTAL FINANCIAL INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
SUPPLEMENTAL FINANCIAL INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES [Abstract] |
Net Costs Incurred in Purchase of Proved and Unproved Properties, and in Exploration and Development Activities | The following table presents information regarding USE's net costs incurred in the purchase of proved and unproved properties, and in exploration and development activities:
|  | (In thousands) |
|  | December 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Proved oil and gas properties |  | $ | 147,486 |  |  | $ | 136,521 |
Unproved |  |  | 10,188 |  |  |  | 7,478 |
Exploratory wells in progress |  |  | 2,357 |  |  |  | -- |
|  | $ | 160,031 |  |  | $ | 143,999 |
Undeveloped Properties | Undeveloped properties as of December 31, 2014 include costs incurred in the following years:
|  | (In thousands) |
|  | Acquisitions |  |  | Exploration |  |  | Development |  |  | Total |
2010 |  | $ | 103 |  |  | $ | -- |  |  | $ | -- |  |  | $ | 103 |
2011 |  |  | 4,015 |  |  |  | -- |  |  |  | -- |  |  |  | 4,015 |
2012 |  |  | 271 |  |  |  | -- |  |  |  | -- |  |  |  | 271 |
2013 |  |  | 2,067 |  |  |  | -- |  |  |  | -- |  |  |  | 2,067 |
2014 |  |  | 3,732 |  |  |  | -- |  |  |  | -- |  |  |  | 3,732 |
Total |  | $ | 10,188 |  |  | $ | -- |  |  | $ | -- |  |  | $ | 10,188 |
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development | Costs incurred in oil and natural gas property acquisition, exploration and development activities are summarized below:
|  | (In thousands) |
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Property acquisition costs: |  |  |  |  |  |  |  |  |
Proved |  | $ | 552 |  |  | $ | 445 |  |  | $ | 2,987 |
Unproved |  |  | 4,167 |  |  |  | 1,760 |  |  |  | 1,416 |
Exploration costs |  |  | 14,791 |  |  |  | 9,138 |  |  |  | 10,943 |
Development costs |  |  | 8,037 |  |  |  | 9,403 |  |  |  | 20,134 |
Total costs incurred |  | $ | 27,547 |  |  | $ | 20,746 |  |  | $ | 35,480 |
Summary of Results of Operations | Results of operations from oil and natural gas producing activities are presented below:
|  | (In thousands) |
|  | For the years ending December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Revenues |  | $ | 32,379 |  |  | $ | 33,647 |  |  | $ | 32,534 |
Operating expenses |  |  | 10,638 |  |  |  | 10,469 |  |  |  | 10,788 |
Depreciation, depletion and amortization |  |  | 14,685 |  |  |  | 13,623 |  |  |  | 14,893 |
Impairment |  |  | -- |  |  |  | 5,828 |  |  |  | 5,189 |
|  |  | 25,323 |  |  |  | 29,920 |  |  |  | 30,870 |
Operating income |  | $ | 7,056 |  |  | $ | 3,727 |  |  | $ | 1,664 |
Estimated Quantities of Proved Oil and Natural Gas Reserves and Changes in Net Proved Reserves | USE's net ownership interests in estimated quantities of proved oil and natural gas reserves and changes in net proved reserves, all of which are located in the continental United States, are summarized below:
December 31, 2014 |  | Oil (BBLS) |  |  | Natural Gas or NGL (MCFE) |
Beginning of year |  |  | 3,459,713 |  |  |  | 2,371,908 |
Revisions of previous quantity estimates |  |  | (262,570 | ) |  |  | 802,241 |
Extensions, discoveries and improved recoveries |  |  | 1,583,292 |  |  |  | 1,006,659 |
Purchase of reserves in place |  |  | -- |  |  |  | -- |
Sales of reserves in place |  |  | (330,871 | ) |  |  | (156,482 | )
Production |  |  | (329,828 | ) |  |  | (813,081 | )
End of year |  |  | 4,119,736 |  |  |  | 3,211,245 |
Proved developed reserves at end of year |  |  | 1,754,668 |  |  |  | 1,892,446 |
December 31, 2013 |  | Oil (BBLS) |  |  | Natural Gas or NGL (MCFE) |
Beginning of year |  |  | 2,613,643 |  |  |  | 1,798,088 |
Revisions of previous quantity estimates |  |  | (162,957 | ) |  |  | 382,690 |
Extensions, discoveries and improved recoveries |  |  | 1,352,746 |  |  |  | 678,412 |
Purchase of reserves in place |  |  | -- |  |  |  | -- |
Sales of reserves in place |  |  | -- |  |  |  | -- |
Production |  |  | (343,719 | ) |  |  | (487,282 | )
End of year |  |  | 3,459,713 |  |  |  | 2,371,908 |
Proved developed reserves at end of year |  |  | 1,875,528 |  |  |  | 1,701,282 |
Summary of Standardized Measure | The standardized measure of discounted future net cash flows relating to USE's ownership interests in proved oil and natural gas reserves as of year-end is shown below:
|  | (In thousands) |
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Future cash inflows |  | $ | 381,156 |  |  | $ | 330,245 |  |  | $ | 237,148 |
Future costs: |  |  |  |  |  |  |  |  |  |  |  |
Production |  |  | (149,450 | ) |  |  | (129,392 | ) |  |  | (96,616 | )
Development |  |  | (70,770 | ) |  |  | (37,739 | ) |  |  | (21,461 | )
Future income tax expense |  |  | (12,719 | ) |  |  | (14,500 | ) |  |  | (8,483 | )
Future net cash flows |  |  | 148,217 |  |  |  | 148,614 |  |  |  | 110,588 |
10% discount factor |  |  | (66,328 | ) |  |  | (43,761 | ) |  |  | (39,571 | )
Standardized measure of discounted future net cash flows |  | $ | 81,889 |  |  | $ | 104,853 |  |  | $ | 71,017 |
Changes in Standardized Measure | Changes in standardized measure of future net cash flows relating to proved oil and natural gas reserves are summarized below:
|  | (In thousands) |
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Balance at beginning of period |  | $ | 104,853 |  |  | $ | 71,017 |  |  | $ | 62,191 |
Sales of oil and gas, net of production costs |  |  | (21,741 | ) |  |  | (23,179 | ) |  |  | (21,747 | )
Net change in prices and production costs |  |  | (17,376 | ) |  |  | 2,543 |  |  |  | (4,548 | )
Changes in estimated future development costs |  |  | (1,869 | ) |  |  | (6,414 | ) |  |  | (9,706 | )
Extensions and discoveries |  |  | 14,706 |  |  |  | 54,360 |  |  |  | 23,297 |
Purchase of reserves in place |  |  | -- |  |  |  | -- |  |  |  | 2,573 |
Sale of reserves in place |  |  | (13,339 | ) |  |  | -- |  |  |  | (13,573 | )
Revisions of previous quantity estimates |  |  | (4,815 | ) |  |  | (2,961 | ) |  |  | (5,927 | )
Previously estimated development costs incurred during the period |  |  | 7,175 |  |  |  | 8,344 |  |  |  | 22,808 |
Net change in income taxes |  |  | 6,924 |  |  |  | (4,245 | ) |  |  | 7,261 |
Accretion of discount |  |  | 10,090 |  |  |  | 7,647 |  |  |  | 7,254 |
Changes in production rates, timing and other |  |  | (2,719 | ) |  |  | (2,259 | ) |  |  | 1,134 |
Balance at end of period |  | $ | 81,889 |  |  | $ | 104,853 |  |  | $ | 71,017 |

X
- Definition A tabular disclosure of acquisition, exploration and development of undeveloped properties. + References No definition available. + Details
Name: | useg_UndevelopedPropertiesTableTextBlock
Namespace Prefix: | useg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61929-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61926-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63019-109448 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61901-109447 + Details
Name: | us-gaap_CapitalizedCostsRelatingToOilAndGasProducingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63042-109448 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62059-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62038-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62014-109447 + Details
Name: | us-gaap_CostIncurredInOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_OilAndGasExplorationAndProductionIndustriesDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the results of operations for oil and gas producing activities for the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63071-109448 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(3) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62136-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62246-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 27 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62352-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10.(a)(17)(ii),(c)(3)(ii)(A)(1)) -URI http://asc.fasb.org/extlink&oid=27015464&loc=d3e511914-122862 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62259-109447 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62299-109447 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62094-109447 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62395-109447 + Details
Name: | us-gaap_ResultsOfOperationsForOilAndGasProducingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62536-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62500-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62496-109447 + Details
Name: | us-gaap_ScheduleOfChangesInStandardizedMeasureOfDiscountedFutureNetCashFlowsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61858-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61797-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61869-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61831-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61884-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61872-109447 + Details
Name: | us-gaap_ScheduleOfProvedDevelopedAndUndevelopedOilAndGasReserveQuantitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62536-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62479-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62424-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62455-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62500-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e62476-109447 + Details
Name: | us-gaap_StandardizedMeasureOfDiscountedFutureCashFlowsRelatingToProvedReservesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration