XML 37 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]        
Oil, gas, and NGL production revenues $ 7,639 $ 8,408 $ 24,496 $ 22,112
Operating expenses:        
Oil and gas 2,514 2,643 7,965 8,677
Oil and gas depreciation, depletion and amortization 3,410 3,862 11,081 9,767
Impairment of oil and gas properties 0 0 523 0
Water treatment plant 609 497 1,554 1,424
Mineral holding costs 400 266 716 346
General and administrative 1,659 1,829 5,313 6,378
Impairment of corporate aircraft 1,756 0 1,756 0
Total operating expenses 10,348 9,097 28,908 26,592
Loss from operations (2,709) (689) (4,412) (4,480)
Other income and expenses:        
Realized gain (loss) on risk management activities 12 (322) (137) (1,892)
Unrealized (loss) gain on risk management activities (478) 1,886 1,233 2,783
(Loss) gain on the sale of assets (21) 0 (11) 137
Equity loss in unconsolidated investment (17) (63) (168) (192)
Gain on sale of marketable securities 28 377 82 386
Miscellaneous income and (expenses) 81 (104) 169 (142)
Interest income 2 6 8 36
Interest expense (53) (69) (128) (207)
Total other income and (expenses) (446) 1,711 1,048 909
Income (loss) before income taxes and discontinued operations (3,155) 1,022 (3,364) (3,571)
Income taxes:        
Current (provision for) 0 0 (104) 0
Deferred (provision for) benefit from 1,285 (892) 1,398 1,084
Total income taxes 1,285 (892) 1,294 1,084
Income (loss) from continuing operations (1,870) 130 (2,070) (2,487)
Discontinued operations:        
Discontinued operations, net of taxes (75) 138 15 471
Impairment on discontinued operations, net of taxes 0 0 (1,261) 0
Total discontinued operations (75) 138 (1,246) 471
Net (loss) income $ (1,945) $ 268 $ (3,316) $ (2,016)
Net (loss) income per share basic and diluted        
Loss from continuing operations (in dollars per share) $ (0.07) $ 0 $ (0.08) $ (0.09)
Income (loss) from discontinued operations (in dollars per share) $ 0 $ 0.01 $ (0.04) $ 0.02
Net (loss) income per share (in dollars per share) $ (0.07) $ 0.01 $ (0.12) $ (0.07)
Weighted average shares outstanding        
Basic (in shares) 27,468,355 27,259,174 27,458,249 27,222,153
Diluted (in shares) 27,468,355 27,862,098 27,485,249 27,222,153