Oil And Gas Properties

3 Months Ended

Mar. 31, 2016

(6) Oil and Gas Properties

The following table sets forth information concerning the Company’s oil and gas properties (in thousands):



	March 31,		December 31,
	2016		2015
Oil and gas properties, at cost	$	7,592	$	8,286
Unevaluated properties		552		552
Oil and gas properties	$	8,144	$	8,838

The Company recorded depletion expense of $302,000 and $696,000 for the three months ended March 31, 2016 and 2015, respectively. In addition, during the three months ended March 31, 2016, the Company recorded an impairment of oil gas properties in the amount of $641,000. No impairment of oil and gas properties was recorded during the three months ended March 31, 2015. As a result of the ceiling test impairment, the accumulated depreciation, depletion, and amortization has been netted against the cost to reflect the post impairment value of the oil and gas properties.