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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
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:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Income tax benefit at federal statutory rate |  | $ | 472 |  |  | $ | 4,801 |  |  | $ | 31,585 |
State income tax benefit, net of federal impact |  |  | 38 |  |  |  | 292 |  |  |  | 1,440 |
Change in Federal tax rate, net of state benefit (1) |  |  | (5,440 | ) |  |  |  |  |  |  |  |
Loss on debt to equity conversion |  |  | (1,630 | ) |  |  |  |  |  |  |  |
Effect of Sec. 382 Limitation |  |  | (29,803 | ) |  |  |  |  |  |  |  |
Incentive stock options and restricted stock not deductible for tax purposes |  |  | 964 |  |  |  | - |  |  |  | (269 | )
Percentage depletion carryover |  |  | 138 |  |  |  | 19 |  |  |  | - |
Prior year true up |  |  | 1,076 |  |  |  | 534 |  |  |  | 171 |
Other |  |  | 77 |  |  |  |  |  |  |  |  |
Decrease in valuation allowance |  |  | (34,109 | ) |  |  | (5,646 | ) |  |  | (32,927 | )
Income tax benefit (expense) |  | $ | - |  |  | $ | - |  |  | $ | - |
| (1) | The change in the Federal Tax rate was due to the passage of Public Law 115-97 (Tax Cuts and Jobs Act). This resulted in a provisional reduction of the Company’s deferred tax assets before valuation analysis primarily due to a reduction in the US Statutory rate from 35% to 21%. We will continue to analyze the Tax Cuts and Jobs Act and future associated Treasury Regulations. This future analysis could potentially affect the measurement of deferred tax balances and give rise to new deferred tax amounts.
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows:
|  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryover (2) |  | $ | 874 |  |  | $ | 26,739 |
Property and equipment |  |  | 7,123 |  |  |  | 14,575 |
Percentage depletion and contribution carryovers (2) |  |  | 1,872 |  |  |  | 2,512 |
Alternative minimum tax credit carryover (2) |  |  | 785 |  |  |  | 706 |
Equity method investment and other |  |  | 398 |  |  |  | 547 |
Deferred compensation liability |  |  | 8 |  |  |  | 12 |
Asset retirement obligations |  |  | 221 |  |  |  | 377 |
Stock-based compensation |  |  | 83 |  |  |  | (44 | )
Total deferred tax assets |  |  | 11,364 |  |  |  | 45,424 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment |  |  | - |  |  |  | - |
Oil price risk derivatives |  |  | - |  |  |  | - |
Other |  |  | (3 | ) |  |  | (4 | )
Total deferred tax liabilities |  |  | (3 | ) |  |  | (4 | )
Net deferred tax assets |  |  | 11,361 |  |  |  | 45,420 |
Less valuation allowance |  |  | (11,361 | ) |  |  | (45,420 | )
Net deferred tax asset |  | $ | - |  |  | $ | - |
| (2) | On December 27, 2017, the Company paid down debt with common stock. This represented a 49.3% ownership change in the company. This combined with other equity events triggered Net Operation Loss limitations under I.R.C Section 382. As a result, the Company’s Net Operating Loss carryforwards were significantly limited.

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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=84230637&loc=d3e32687-109319 + Details
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