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Debt | 6 Months Ended
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Jun. 30, 2015
Debt [Abstract] |
Debt | 6) Debt Revolving Credit Facility Energy One, a wholly-owned subsidiary the Company, has in place a credit facility with Wells Fargo Bank, National Association ("Wells Fargo"). As of June 30, 2015, the maximum credit available under the credit facility was $100.0 million and the borrowing base under the facility was $7.5 million. Effective July 16, 2015, the borrowing base was decreased to $7.0 million. As of June 30, 2015, the Company had $6.0 million in outstanding borrowings under the credit facility. Borrowings under the credit facility are collateralized by Energy One's oil and gas producing properties. Each borrowing under the agreement has a term of six months, but can be continued at our election through July 2017 if we remain in compliance with the covenants under the facility. The current weighted average interest rate on this debt is 2.94% at June 30, 2015. At June 30, 2015, Energy One was not in compliance with the Current Ratio covenant of the credit facility. In the third amendment to the credit agreement, executed on July 16, 2015, Wells Fargo granted a limited waiver of the breach of the Current Ratio covenant for the quarter ended June 30, 2015 and a prospective breach of the covenant for the quarter ended September 30, 2015 (see footnote 12 "Subsequent Events" below). Because we project that it is unlikely that we will regain compliance with the Current Ratio covenant within the next 12 months, we have reflected the $6.0 million in debt under the credit facility as a current liability as of June 30, 2015 in the applicable balance sheets included in this report. In the event that we are unable to obtain an amendment or waiver of the revolving credit facility to address potential future breaches, and other actual or potential future breaches that may occur, the lender under the facility could elect to declare some or all of our debt to be immediately due and payable and could elect to terminate their commitments and cease making further loans.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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