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Schedule of information on Oil and Gas Industries (Tables) | 12 Months Ended
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Dec. 31, 2014
Schedule of information on Oil and Gas Industries (Tables) |
Schedule of Oil and Gas In Process Activities | The Company’s net ownership interests in estimated quantities of proved oil and natural gas reserves and changes in net proved reserves, all of which are located in the continental United States, are summarized below:
|  | 2014 |
|  | Gas (MMCF) |  |  | Oil (MBBLS) |
Proved developed and undeveloped reserves - |  |  |  |  |  |
January 1, 2014 |  |  | 2,887 |  |  |  | 173 |
Purchase of oil and natural gas properties in place |  |  | 0 |  |  |  | 0 |
Discoveries and exclusions |  |  | 0 |  |  |  | 0 |
Revisions |  |  | 148 |  |  |  | (24 | )
Sales of oil and gas properties in place |  |  | 0 |  |  |  | 0 |
Production |  |  | (169 | ) |  |  | (10 | )
December 31, 2014 |  |  | 2,866 |  |  |  | 139 |
Proved developed at beginning of year |  |  | 719 |  |  |  | 105 |
Proved developed reserves at end of year |  |  | 698 |  |  |  | 70 |
|  | 2013 |
|  | Gas (MMCF) |  |  | Oil (MBBLS) |
Proved developed and undeveloped reserves - |  |  |  |  |  |  |  |
January 1, 2013 |  |  | 2,849 |  |  |  | 103 |
Purchase of oil and natural gas properties in place |  |  | 0 |  |  |  | 0 |
Discoveries and exclusions |  |  | 0 |  |  |  | 0 |
Revisions |  |  | 232 |  |  |  | 82 |
Sales of oil and gas properties in place |  |  | 0 |  |  |  | 0 |
Production |  |  | (194 | ) |  |  | (12 | )
December 31, 2013 |  |  | 2,887 |  |  |  | 173 |
Proved developed at beginning of year |  |  | 593 |  |  |  | 35 |
Proved developed reserves at end of year |  |  | 719 |  |  |  | 105 |
Schedule of changes in total proved undeveloped reserves Table Text Block | The following table presents the changes in our total proved undeveloped reserves.
|  | Gas |  |  | Oil |
|  | (MMCF) |  |  | (MBBLS) |
Proved undeveloped reserves as of December 31, 2012 |  |  | 2,256 |  |  |  | 68 |
Revaluation of undeveloped reserves |  |  | - |  |  |  | - |
Conversion to prove developed reserves |  |  | (88 | ) |  |  | - |
Proved undeveloped reserves as of December 31, 2013 |  |  | 2,168 |  |  |  | 68 |
Conversion to prove developed reserves |  |  | - |  |  |  | - |
Revaluation of undeveloped reserves |  |  | - |  |  |  | - |
Proved undeveloped reserves as of December 31, 2014 |  |  | 2,168 |  |  |  | 68 |
The following table reflects the capitalized costs relating to oil and gas producing activities.
|  | 2014 |  |  | 2013 |
Property acquisition costs: |  |  |  |  |  |
Proved properties |  | $ | 11,496 |  |  | $ | 11,328 |
Unproved properties |  |  | - |  |  |  | - |
Accumulated depreciation, depletion and amortization |  |  |  |  |  |  |  |
and valuation allowance |  |  | (2,687 | ) |  |  | (2,178 | )
Net capitalized costs |  | $ | 8,809 |  |  | $ | 9,190 |
Schedule of the capitalized costs relating to oil and gas producing activitiesTable Text Block | The following table reflects the capitalized costs relating to oil and gas producing activities.
|  | 2014 |  |  | 2013 |
Property acquisition costs: |  |  |  |  |  |
Proved properties |  | $ | 11,496 |  |  | $ | 11,328 |
Unproved properties |  |  | - |  |  |  | - |
Accumulated depreciation, depletion and amortization |  |  |  |  |  |  |  |
and valuation allowance |  |  | (2,678 | ) |  |  | (2,178 | )
Net capitalized costs |  | $ | 8,809 |  |  | $ | 9,190 |
Schedule of the costs incurred in oil and gas property acquisition, exploration and development activities.Table Text Block | The following table reflects the costs incurred in oil and gas property acquisition, exploration and development activities.
|  | 2014 |  |  | 2013 |
Property acquisition costs: |  |  |  |  |  |
Proved properties |  | $ | - |  |  | $ | - |
Unproved properties |  |  | - |  |  |  | - |
Exploration costs |  |  | - |  |  |  | - |
Development costs |  |  | 129 |  |  |  | 240 |
Total cost incurred |  | $ | 129 |  |  | $ | 240 |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities | The following table reflects revenues and expenses directly associated with our oil and gas producing activities, including general and administrative expenses directly related to such producing activities. They do not include any allocation of interest costs or general corporate overhead and, therefore, are not necessarily indicative of the contribution to net earnings of our oil and gas operations. Income tax expense has been calculated by applying statutory income tax rates to oil and gas sales after deducting costs, including depreciation, depletion and amortization and after giving effect to permanent differences.
|  | 2014 |  |  | 2013 |
Oil and gas sales |  | $ | 1,489 |  |  | $ | 1,477 |
Operating expenses |  |  | (1,233 | ) |  |  | (1213 | )
Depreciation, depletion and amortization |  |  | (620 | ) |  |  | (654 | )
Impairment of oil & gas properties |  |  | - |  |  |  | (200 | )
Results of operations |  | $ | (364 | ) |  | $ | (590 | )
The following table reflects the standardized measure of future net cash flows related to our proved reserves
|  | 2014 |  |  | 2013 |
Future oil and gas cash inflows |  | $ | 25,595 |  |  | $ | 30,060 |
Future oil & gas operating expenses |  |  | (4,170 | ) |  |  | (5,445 | )
Future development costs |  |  | (2,983 | ) |  |  | (3,350 | )
Future tax expense |  |  | (1,666 | ) |  |  | (1,257 | )
Future net cash flows |  | $ | 16,776 |  |  | $ | 20,008 |
10% discount to reflect timing of cash flows |  |  | (5,998 | ) |  |  | (7,787 | )
|  | $ | 10,778 |  |  | $ | 12,221 |

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- Definition Tabular disclosure of in process activities, such as the number of wells in process of drilling (including wells temporarily suspended), water floods in process of installation, pressure maintenance operations, and any other related operations of material importance by appropriate geographic areas. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Industry Guide -Number 2 -Paragraph 7 + Details
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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61858-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61797-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61869-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61831-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61872-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61884-109447 + Details
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