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Unaudited Supplemental Oil and Gas Information (Tables)

12 Months Ended

Dec. 31, 2017

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Schedule of Proved Oil and Gas Reserves and Changes in Net Proved Reserves

The Company’s estimated quantities of proved oil and gas reserves and changes in net proved reserves are summarized below for the years ended December 31, 2017, 2016 and 2015:

		2017								2016								2015
		Oil				Gas				Oil				Gas				Oil				Gas
		(bbls)				(mcfe) ⁽¹⁾				(bbls)				(mcfe) ⁽¹⁾				(bbls)				(mcfe) ⁽¹⁾

Total proved reserves:
Reserve quantities, beginning of year			657,280				1,379,163				1,615,180				2,477,930				4,119,736				3,211,245
Revisions of previous estimates			302,530				55,072				(795,459	)			(584,494	)			(2,377,364	)			(206,912	)
Discoveries and extensions			22,801				21,787				23,841				20,336				94,458				27,102
Sale of minerals in place			(194,667	)			(118,944	)			(53,853	)			(57,258	)			-				-
Production			(111,914	)			(448,571	)			(132,429	)			(477,351	)			(221,650	)			(553,505	)

Reserve quantities, end of year			676,030				888,507				657,280				1,379,163				1,615,180				2,477,930

Proved developed reserves, end of year			676,030				888,507				657,280				1,379,163				1,248,750				2,068,190

⁽¹⁾

Mcf equivalents (Mcfe) consist of natural gas reserves in mcf plus NGLs converted to mcf using a factor of 6 mcf for each barrel of NGL.

Schedule of Prices as Adjusted for Transportation, Quality

The following prices as adjusted for transportation, quality, and basis differentials were used in the calculation of the standardized measure:

		2017				2016				2015

Oil per Bbl		$	51.34			$	42.75			$	43.54
Gas per Mcfe ⁽¹⁾		$	2.98			$	2.48			$	3.36

Schedule of Standardized Measure of Discounted Future Net Cash Flows

The standardized measure of discounted future net cash flows relating to the Company’s proved oil and gas reserves is as follows as of December 31, 2017, 2016 and 2015:

		2017				2016				2015

Future cash inflows		$	34,424			$	27,769			$	78,646
Future cash outflows:
Production costs			(18,518	)			(18,814	)			(44,685	)
Development costs			-				-				(8,050	)
Income taxes			-				-				-

Future net cash flows			15,906				8,955				25,911
10% annual discount factor			(6,653	)			(2,208	)			(8,143	)

Standardized measure of discounted future net cash flows		$	9,253			$	6,747			$	17,768

Schedule of Standardized Measure of Future Net Cash Flows

The changes in the standardized measure of future net cash flows relating to proved oil and gas reserves for the years ended December 31, 2017, 2016 and 2015 are as follows:

		2017				2016				2015

Standardized measure, beginning of year		$	6,747			$	17,768			$	81,889
Sales of oil and gas, net of production costs			(3,143	)			(3,102	)			(2,944	)
Net changes in prices and production costs			2,347				(9,248	)			(96,586	)
Changes in estimated future development costs			-				6,590				51,998
Extensions and discoveries			511				167				2,260
Sale of minerals in place			(1,049	)			(78	)			-
Revisions in previous quantity estimates			3,416				(6,791	)			(27,693	)
Previously estimated development costs incurred			-				-				-
Net changes in income taxes			-				-				3,306
Accretion of discount			675				1,777				8,189
Changes in timing and other			(251	)			(336	)			(2,651	)

Standardized measure, end of year		$	9,253			$	6,747			$	17,768

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

+ References + Details