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QUARTERLY FINANCIAL DATA (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract] |
Schedule of quarterly financial information | The Company’s quarterly financial information for the two-year period ended December 31, 2015 is as follows:
|  | Year Ended December 31, 2014 |  |  | Year Ended December 31, 2015 |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |  |  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |
Oil and gas sales |  | $ | 8,256 |  |  | $ | 9,128 |  |  | $ | 9,928 |  |  | $ | 5,067 |  |  | $ | 2,679 |  |  | $ | 3,285 |  |  | $ | 2,622 |  |  | $ | 1,710 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of oil and gas properties |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (19,240 | ) |  |  | (3,208 | ) |  |  | (21,446 | ) |  |  | (13,782 | )
Other (1) |  |  | (6,841 | ) |  |  | (7,671 | ) |  |  | (9,648 | ) |  |  | (7,599 | ) |  |  | (6,174 | ) |  |  | (5,266 | ) |  |  | (5,534 | ) |  |  | (4,710 | )
Operating income (loss) (1) |  | $ | 1,415 |  |  | $ | 1,457 |  |  | $ | 280 |  |  | $ | (2,532 | ) |  | $ | (22,735 | ) |  | $ | (5,189 | ) |  | $ | (24,358 | ) |  | $ | (16,782 | )
Income (loss) from continuing operations (1) |  | $ | 1,038 |  |  | $ | 744 |  |  | $ | 898 |  |  | $ | (1,663 | ) |  | $ | (22,919 | ) |  | $ | (5,542 | ) |  | $ | (22,785 | ) |  | $ | (16,038 | )
Discontinued operations |  |  | (788 | ) |  |  | (688 | ) |  |  | (961 | ) |  |  | (671 | ) |  |  | (784 | ) |  |  | (738 | ) |  |  | (866 | ) |  |  | (23,224 | )
Net income (loss) |  | $ | 250 |  |  | $ | 56 |  |  | $ | (63 | ) |  | $ | (2,334 | ) |  | $ | (23,703 | ) |  | $ | (6,280 | ) |  | $ | (23,651 | ) |  | $ | (39,262 | )
Income (loss) per share - basic (1)(2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.04 |  |  | $ | 0.03 |  |  | $ | 0.03 |  |  | $ | (0.06 | ) |  | $ | (0.82 | ) |  | $ | (0.20 | ) |  | $ | (0.81 | ) |  | $ | (0.57 | )
Discontinued operations |  |  | (0.03 | ) |  |  | (0.03 | ) |  |  | (0.03 | ) |  |  | (0.02 | ) |  |  | (0.03 | ) |  |  | (0.03 | ) |  |  | (0.03 | ) |  |  | (0.83 | )
Total |  | $ | 0.01 |  |  | $ | - |  |  | $ | - |  |  | $ | (0.08 | ) |  | $ | (0.85 | ) |  | $ | (0.22 | ) |  | $ | (0.84 | ) |  | $ | (1.40 | )
Income (loss) per share - diluted (1)(2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.04 |  |  | $ | 0.03 |  |  | $ | 0.03 |  |  | $ | (0.06 | ) |  | $ | (0.82 | ) |  | $ | (0.20 | ) |  | $ | (0.81 | ) |  | $ | (0.57 | )
Discontinued operations |  |  | (0.03 | ) |  |  | (0.03 | ) |  |  | (0.03 | ) |  |  | (0.02 | ) |  |  | (0.03 | ) |  |  | (0.02 | ) |  |  | (0.03 | ) |  |  | (0.83 | )
Total |  | $ | 0.01 |  |  | $ | - |  |  | $ | - |  |  | $ | (0.08 | ) |  | $ | (0.85 | ) |  | $ | (0.22 | ) |  | $ | (0.84 | ) |  | $ | (1.40 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 27,738,000 |  |  |  | 27,785,000 |  |  |  | 27,906,000 |  |  |  | 27,906,000 |  |  |  | 28,048,000 |  |  |  | 28,048,000 |  |  |  | 28,051,000 |  |  |  | 28,111,000 |
Diluted (1) |  |  | 28,142,000 |  |  |  | 28,238,000 |  |  |  | 28,359,000 |  |  |  | 27,906,000 |  |  |  | 28,048,000 |  |  |  | 28,048,000 |  |  |  | 28,051,000 |  |  |  | 28,111,000 |
| (1) | Amounts have been restated from amounts reported in previous reports to retroactively present the impact of Discontinued Operations as discuss further in Note 6.
| (2) | Earnings per share amounts may not sum due to rounding.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 + Details
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