XML 39 R26.htm IDEA: XBRL DOCUMENT v3.7.0.1
OIL AND GAS PRODUCING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2016
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, 2016 and 2015:

 

    2016     2015  
             
Oil and Gas Properties:                
Unevaluated properties:                
Unproved leasehold costs   $ 4,664     $ 5,664  
Exploratory wells in progress     -       -  
Evaluated properties in full cost pool     87,834       97,912  
Less accumulated depreciation, depletion and amortization     (82,640 )     (80,144 )
                 
Net capitalized costs   $ 9,858     $ 23,432  
Schedule of unevaluated leasehold costs were incurred

As of December 31, 2015, unevaluated oil and gas properties consisted solely of unproved lease acquisition costs of $5.7 million.

 

    As of December 31,  
    2016     2015  
Year Incurred                
                 
2010   $ -     $ -  
2011     2,686       2,686  
2012     267       267  
2013     525       1,525  
2014     1,153       1,153  
2015     33       33  
2016     0          
                 
    $ 4,664     $ 5,664  
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, 2016, 2015 and 2014:

 

    2016     2015     2014  
                   
Acquisition costs:                        
Proved properties   $ 42     $ 1,658     $ 552  
Unproved properties     -       632       4,167  
Development costs     (4)       61       8,037  
Exploration costs     (1,496  )     369       14,791  
                         
Total (1)   $ (1,458)     $ 2,720     $ 27,547  

 

  (1) Includes amounts related to estimated asset retirement obligations reduction of $(24) and additions $61 for the years ended December 31, 2016 and 2015, respectively.  The development costs and exploration costs include a reduction in interest of some wells which in prior years were in dispute.
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, 2016, 2015 and 2014:

 

    2016     2015     2014  
                   
Oil and gas sales   $ 5,746     $ 10,296     $ 32,379  
Production costs     (2,728 )     (7,352 )     (10,638 )
Depreciation, depletion and amortization     (2,529 )     (8,412 )     (14,685 )
Impairment of oil and gas properties     (9,568 )     (57,676 )     -  
                         
Results of operations from oil and gas producing activities   $ (9,079 )   $ (63,144 )   $ 7,056