SEGMENTS AND MAJOR CUSTOMERS

12 Months Ended

Dec. 31, 2014

SEGMENTS AND MAJOR CUSTOMERS [Abstract]

SEGMENTS AND MAJOR CUSTOMERS

K.SEGMENTS AND MAJOR CUSTOMERS

During the years ended December 31, 2014, 2013, and 2012, USE, for financial reporting purposes, operated two business segments, the exploration for and sale of oil and gas, and mining.  Our operating segments are reflected in the tables below:

	(In thousands)
	For the years ended December 31,
	2014			2013			2012
Revenues:
Oil and gas	$	32,379		$	33,647		$	32,534
Total revenues		32,379			33,647			32,534
Operating expenses:
Oil and gas		25,323			29,920			30,870
Mineral properties		2,985			3,045			2,899
Total operating expenses		28,308			32,965			33,769
Interest expense:
Oil and gas		368			264			169
Mineral properties		--			12			24
Total interest expense		368			276			193
Operating income (loss)
Oil and gas	$	6,688		$	3,463		$	1,495
Mineral properties		(2,985	)		(3,057	)		(2,923	)
Operating income (loss)
from identified segments		3,703			406			(1,428	)
General and administrative expenses		(6,559	)		(5,673	)		(9,109	)
Add back interest expense		368			276			193
Other revenues and expenses		397			(2,695	)		849
(Loss) before income taxes
and discontinued operations	$	(2,091	)	$	(7,686	)	$	(9,495	)
Depreciation depletion and amortization expense:
Oil and gas	$	14,685		$	13,623		$	14,893
Mineral properties		123			126			127
Corporate		148			149			437
Total depreciation expense	$	14,956		$	13,898		$	15,457

	(In thousands)
	December 31,
	2014		2013		2012
Assets by segment
Oil and gas	$	92,020	$	97,418	$	93,839
Mineral		21,942		20,739		20,747
Corporate		9,561		8,644		26,241
Total assets	$	123,523	$	126,801	$	140,827