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Note 19 - Other Operating Expense
12 Months Ended
Dec. 31, 2014
Disclosure Text Block [Abstract]  
Other Operating Income and Expense [Text Block]

Note 19 Other Operating Expense


For the year ended December 31, 2014, the Company reported $4.3 million of charges in the Consolidated Statements of Operations as “Other operating expense.” The Company expensed these previously capitalized amounts related to marine operations, a drilling site location and certain equipment and associated capitalized interest that it does not see a future economic benefit in these costs.


For the year December 31, 2013, the Company reported $4.4 million of charges in the Consolidated Statements of Operations as “Other operating expense.” The Company expensed these costs related to historical pre-development drilling studies for drilling locations and platform technologies and associated capitalized interest as it believes that these locations and technologies may change and it does not see a future value for these studies.


For the year ended December 31, 2012, the Company reported $2.3 million of abandonment charges in the Consolidated Statements of Operations as “Other operating expense.” The Company accrued $2.3 million of abandonment costs related to a platform in the Piedra Redonda field in Block Z-1, as it is obligated to ensure the offshore platform does not cause a threat to navigation in the area or marine wildlife. The $2.3 million charge is in addition to the Piedra Redonda platform abandonment costs previously recorded in the third quarter of 2010.