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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Schedule of effective income tax | Income tax benefit using the Company’s effective income tax rate differs from the U.S. Federal Statutory income tax rate due to the following:
|  | 2016 |  |  | 2015 |  |  | 2014 |
Income tax benefit at federal statutory rate |  | $ | 4,801 |  |  | $ | 31,585 |  |  | $ | 711 |
State income tax benefit, net of federal impact |  |  | 292 |  |  |  | 1,440 |  |  |  | 34 |
Incentive stock options and restricted stock not deductible for tax purposes |  |  | - |  |  |  | (269 | ) |  |  | (79 | )
Percentage depletion carryover |  |  | 19 |  |  |  | - |  |  |  | 129 |
Other, net |  |  | 534 |  |  |  | 171 |  |  |  | (183 | )
Increase in valuation allowance |  |  | (5,646 | ) |  |  | (32,927 | ) |  |  | (612 | )
Income tax benefit (expense) |  | $ | - |  |  | $ | - |  |  | $ | -
Schedule of deferred tax assets and liabilities | The components of deferred tax assets and liabilities as of December 31, 2016 and 2015 are as follows:
|  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryover |  | $ | 26,739 |  |  | $ | 19,947 |
Property and equipment |  |  | 14,575 |  |  |  | 15,645 |
Percentage depletion and contribution carryovers |  |  | 2,512 |  |  |  | 2,433 |
Alternative minimum tax credit carryover |  |  | 706 |  |  |  | 706 |
Equity method investment and other |  |  | 547 |  |  |  | 630 |
Deferred compensation liability |  |  | 12 |  |  |  | 262 |
Asset retirement obligations |  |  | 377 |  |  |  | 442 |
Stock-based compensation |  |  | (44) |  |  |  | 302 |
Total deferred tax assets |  |  | 45,424 |  |  |  | 40,367 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment |  |  | - |  |  |  | - |
Oil price risk derivatives |  |  | - |  |  |  | (538) |
Other |  |  | (4 | ) |  |  | (4) |
Total deferred tax liabilities |  |  | (4 | ) |  |  | (542) |
Net deferred tax assets |  |  | 45,420 |  |  |  | 39,825 |
Less valuation allowance |  |  | (45,420 | ) |  |  | (39,825) |
Net deferred tax asset |  | $ | - |  |  | $ | - |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
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