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QUARTERLY FINANCIAL DATA (Unaudited) (Tables)
 12 Months Ended
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.