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OIL AND GAS PRODUCING ACTIVITIES (Tables) | 12 Months Ended
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Dec. 31, 2015
Oil and Gas Property [Abstract] |
Schedule of net costs incurred in the purchase of proved and unproved properties, and in exploration and development activities | The following table presents the Company’s capitalized costs associated with oil and gas producing activities as of December 31, 2015 and 2014:
|  | 2015 |  |  | 2014 |
Oil and Gas Properties: |  |  |  |  |  |  |  |
Unevaluated properties: |  |  |  |  |  |  |  |
Unproved leasehold costs |  | $ | 5,664 |  |  | $ | 10,188 |
Exploratory wells in progress |  |  | - |  |  |  | 2,357 |
Evaluated properties in full cost pool |  |  | 97,912 |  |  |  | 147,486 |
Less accumulated depreciation, depletion and amortization |  |  | (80,144 | ) |  |  | (71,762 | )
Net capitalized costs |  | $ | 23,432 |  |  | $ | 88,269 |
Schedule of unevaluated leasehold costs were incurred | The table below presents the years in which unevaluated leasehold costs were incurred:
|  | As of December 31, |
|  | 2015 |  |  | 2014 |
Year Incurred |  |  |  |  |  |
2010 |  | $ | - |  |  | $ | 103 |
2011 |  |  | 2,686 |  |  |  | 4,015 |
2012 |  |  | 267 |  |  |  | 271 |
2013 |  |  | 1,525 |  |  |  | 2,067 |
2014 |  |  | 1,153 |  |  |  | 3,732 |
2015 |  |  | 33 |  |  |  | - |
|  | $ | 5,664 |  |  | $ | 10,188 |
Schedule of costs incurred in oil and gas property acquisition, exploration and development activities | Costs incurred in oil and gas property acquisition, exploration and development activities, all of which have been capitalized, are summarized as follows for the years ended December 31, 2015, 2014 and 2013:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Acquisition costs: |  |  |  |  |  |  |  |  |  |  |  |
Proved properties |  | $ | 1,658 |  |  | $ | 552 |  |  | $ | 445 |
Unproved properties |  |  | 632 |  |  |  | 4,167 |  |  |  | 1,760 |
Development costs |  |  | 61 |  |  |  | 8,037 |  |  |  | 9,403 |
Exploration costs |  |  | 369 |  |  |  | 14,791 |  |  |  | 9,138 |
Total (1) |  | $ | 2,720 |  |  | $ | 27,547 |  |  | $ | 20,746 |
| (1) | Includes amounts related to estimated asset retirement obligations of $61, $281 and $131 for the years ended December 31, 2015, 2014 and 2013, respectively.
Schedule of operations from oil and gas producing activities | Presented below are the results of operations from oil and gas producing activities for the years ended December 31, 2015, 2014 and 2013:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Oil and gas sales |  | $ | 10,296 |  |  | $ | 32,379 |  |  | $ | 33,647 |
Production costs |  |  | (7,352 | ) |  |  | (10,638 | ) |  |  | (10,469 | )
Depreciation, depletion and amortization |  |  | (8,412 | ) |  |  | (14,685 | ) |  |  | (13,623 | )
Impairment of oil and gas properties |  |  | (57,676 | ) |  |  | - |  |  |  | (5,828 | )
Results of operations from oil and gas producing activities |  | $ | (63,144 | ) |  | $ | 7,056 |  |  | $ | 3,727 |

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- 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 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63042-109448 Reference 2: 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=51678428&loc=d3e62059-109447 Reference 3: 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=51678428&loc=d3e62038-109447 Reference 4: 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=51678428&loc=d3e62014-109447 Reference 5: 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 + Details
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- Definition Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 + Details
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- 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 50 -Paragraph 27 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e62352-109447 Reference 2: 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=51678428&loc=d3e62246-109447 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=51678428&loc=d3e62136-109447 Reference 4: 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=50486907&loc=d3e511914-122862 Reference 5: 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=51678428&loc=d3e62259-109447 Reference 6: 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=51678428&loc=d3e62299-109447 Reference 7: 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=51678428&loc=d3e62094-109447 Reference 8: 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=51678428&loc=d3e62395-109447 Reference 9: 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 10: 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 + Details
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