XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Oil $ 1,496 $ 2,258 $ 4,037 $ 7,489
Natural gas and liquids 371 364 892 1,097
Total revenue 1,867 2,622 4,929 8,586
Oil and gas operations:        
Production costs 1,348 1,542 3,812 5,415
Depreciation, depletion and amortization 669 2,199 2,315 7,128
Impairment of oil and gas properties 21,446 9,568 43,894
General and administrative:        
Compensation and benefits, including directors 158 1,215 469 2,745
Stock-based compensation 30 107 98 331
Professional services 457 162 1,225 702
Insurance, rent and other 99 310 282 656
Total operating expenses 2,761 26,981 17,769 60,871
Operating loss (894) (24,359) (12,840) (52,285)
Other income (expense):        
Gain on receipt of marketable equity securities 750 238 750 238
Realized gain (loss) on oil price risk derivatives 139 33 1,401 (106)
Change in unrealized gain (loss) on oil price risk derivatives (97) 1,337 (1,557) 1,002
Gain on sale of assets 41 100 57
Rental and other income, net of expenses (46) (9) (125) 41
Interest expense (117) (67) (364) (196)
Loss from continuing operations (265) (22,786) (12,635) (51,249)
Loss from discontinued operations (865) (2,448) (2,385)
Net loss (265) (23,651) (15,083) (53,634)
Other comprehensive loss:        
Unrealized gain (loss) on marketable equity securities (6) (10) 921 (5)
Comprehensive income (loss) (271) (23,661) (14,162) (53,639)
Loss from continuing operations applicable to common shareholders:        
Loss from continuing operations (265) (23,651) (12,635) (53,634)
Accrued dividends related to Series A Convertible Preferred Stock (68) (164)
Loss from continuing operations applicable to common shareholders $ (333) $ (23,651) $ (12,799) $ (53,634)
Earnings (loss) per share applicable to common shareholders (basic and diluted) :        
Continuing operations (in dollars per share) $ (0.06) $ (4.87) $ (2.67) $ (10.96)
Discontinued operations (in dollars per share) (0.19) (0.52) (0.51)
Total (in dollars per share) $ (0.06) $ (5.06) $ (3.19) $ (11.47)
Weighted average shares outstanding- basic and diluted (in shares) 4,768,000 4,675,000 4,726,000 4,675,000