Oil and Natural Gas Producing Activities	12 Months Ended
Dec. 31, 2019
Oil and Gas Property [Abstract]
Oil and Natural Gas Producing Activities	5. OIL AND NATURAL GAS PRODUCING ACTIVITIES Divestitures In December 2019, the Company completed the sale of its interest in four Texas wells for $75 thousand in cash and assumption of $130 thousand of asset retirement obligations associated with the wells. The total was recorded as a reduction in the balance of the full cost pool. Ceiling Test and Impairment The reserves used in the Ceiling Test incorporate assumptions regarding pricing and discount rates over which management has no influence in the determination of present value. In the calculation of the Ceiling Test for the year ended December 31, 2019, the Company used $55.69 per barrel for oil and $2.58 per mcf for natural gas (as further adjusted for property, specific gravity, quality, local markets and distance from markets) to compute the future cash flows of the Company’s producing properties. The discount factor used was 10%. There was no impairment for the years ended December 31, 2019 and 2018 of the Company’s oil and natural gas properties. Impairment charges in previous years are generally the result of declines in the price of oil and natural gas, additional capitalized well costs and changes in production.

Oil and Natural Gas Producing Activities

12 Months Ended

Dec. 31, 2019

Oil and Natural Gas Producing Activities

5. OIL AND NATURAL GAS PRODUCING ACTIVITIES

Divestitures

In December 2019, the Company completed the sale of its interest in four Texas wells for $75 thousand in cash and assumption of $130 thousand of asset retirement obligations associated with the wells. The total was recorded as a reduction in the balance of the full cost pool.

Ceiling Test and Impairment

The reserves used in the Ceiling Test incorporate assumptions regarding pricing and discount rates over which management has no influence in the determination of present value. In the calculation of the Ceiling Test for the year ended December 31, 2019, the Company used $55.69 per barrel for oil and $2.58 per mcf for natural gas (as further adjusted for property, specific gravity, quality, local markets and distance from markets) to compute the future cash flows of the Company’s producing properties. The discount factor used was 10%.

There was no impairment for the years ended December 31, 2019 and 2018 of the Company’s oil and natural gas properties. Impairment charges in previous years are generally the result of declines in the price of oil and natural gas, additional capitalized well costs and changes in production.