Variable Interests Entities [Member]
Product Or Service [Axis]
Mieka LLC [Member]
Related Party Transactions By Related Party [Axis]
Daro Blankenship [Member]
Anita Blankenship [Member]
Document And Entity Information
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Amendment Flag
Current Fiscal Year End Date
Is Entity a Well-known Seasoned Issuer?
Is Entity a Voluntary Filer?
Is Entity's Reporting Status Current?
Entity Filer Category
Entity Public Float
Entity Common Stock, Shares Outstanding
Document Fiscal Period Focus
Document Fiscal Year Focus
Statement of Financial Position [Abstract]
Assets:
Cash
Accounts receivable - net
Deferred federal income taxes - current
Prepaid drilling costs
Total current assets
Property and equipment:
Oil and gas properties, using successful efforts method of accounting:
Proved properties
Other property and equipment
Less: Accumulated depletion and depreciation
Property and equipment, net
Goodwill
Prepayment to operator, net of valuation allowance of $1,832,500
Other assets
Total Assets
Liabilities and Equity:
Accounts payable and accrued liabilities
Current portion of notes payable
Payable to affiliate
Payable to shareholders
Deferred revenue
Total current liabilities
Notes payable
Asset retirement obligation
Deferred federal income taxes - long-term
Total long-term liabilities
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued or outstanding as of September 30, 2012 and December 31, 2011
Common stock, $.001 par value; 150,000,000 shares authorized; 104,235,236 issued and outstanding as of September 30, 2012 and December 31, 2011
Additional paid-in capital
Accumulated deficit
Total Vadda stockholders' equity
Deficit attributable to noncontrolling interests
Total Equity
Total Liabilities and Equity
Valuation allowance (in Dollars)
Preferred stock par value (in Dollars per share)
Preferred stock shares authorized
Preferred stock shares issued
Preferred stock shares outstanding
Common stock par value (in Dollars per share)
Common stock shares authorized
Common stock shares issued
Common stock shares outstanding
Income Statement [Abstract]
Revenues:
Turnkey drilling revenues
Natural gas and oil sales
Revenues
Costs and expenses:
Turnkey drilling costs
Lease operating expense
General and administrative
Accretion expense
Depletion and depreciation
Cost Of Goods Sold
Operating income (loss)
Other income (expense): Other
Income (loss) before income taxes
Income tax expense (benefit)
Net income (loss)
Net income (loss) attributable to noncontrolling interests
Net loss attributable to Vadda common stockholders
Basic and diluted loss per common share
Weighted average number of common shares outstanding - basic and fully diluted
Statement of Cash Flows [Abstract]
Cash flows from operating activities:
Net income (loss)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation, depletion and amortization
Accretion expense
Deferred tax expense (benefit)
Changes in operating assets and liabilities:
Accounts receivable
Prepaid drilling costs
Other assets
Accounts payable and accrued liabilities
Payable to affiliates and shareholders
Deferred revenues
Net cash used in operating activities
Cash flows from investing activities:
Additions to property and equipment
Net cash used in investing activities
Cash flows from financing activities:
Note payable proceeds
Repayment of note payable
Net cash used in financing activities
Net change in cash
Cash balance, beginning of period
Cash balance, end of period
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1. BASIS OF PRESENTATION
Accounting Policies [Abstract]
Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Income Tax Disclosure [Abstract]
Note 3. INCOME TAXES
Related Party Transactions [Abstract]
Note 4. RELATED PARTY TRANSACTIONS
Leases [Abstract]
Note 5. LEASES
Debt Disclosure [Abstract]
Note 6. NOTES PAYABLE
Variable Interests Entities Vie
Note 7. VARIABLE INTERESTS ENTITIES (VIE)
Oil and Gas Producing Activities
Turnkey Drilling Revenue Recognition
Prepayment to Operator
Depletion and Depreciation
Impairments
Asset Retirement Obligations
Goodwill
Recently Issued Accounting Standards
Offsetting Assets and Liabilities
Common Fair Value Measurement and Disclosure
Comprehensive Income
Impairment
Variable Interests Entities Vie Tables
Assets and liabilities from the VIE included in the consolidated balance sheets
Recognized turnkey drilling revenue
Recognized turnkey drilling cost
Deferred turnkey drilling revenue
Deferred turnkey drilling cost
Effective tax rate on pre-tax income from operations
Estimated income tax benefit (expense)
Statement [Table]
Statement [Line Items]
Related Party [Axis]
Drilling costs associated with turnkey drilling contracts
Obligations to pay related parties
Aggregate compensation received
Leases Details Narrative
Lease description
Balance remaining on installment loan
Interest rate
Maturity date
Products and Services [Axis]
Assets
Accounts receivable from affiliates
Prepaid drilling cost
Investment in joint ventures
Total assets
Liabilties and Members' Deficit
Total liabilities
Total members' deficit
Total Liabilities and Members' Deficit
Assets, Current
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
Property, Plant and Equipment, Net
Liabilities
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Revenues
Cost of Goods Sold
Operating Income (Loss)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Net Income (Loss) Available to Common Stockholders, Basic
Accretion Expense
Increase (Decrease) in Prepaid Expense and Other Assets
Increase (Decrease) in Other Noncurrent Assets
Increase (Decrease) in Accounts Payable and Accrued Liabilities
Net Cash Provided by (Used in) Operating Activities
Net Cash Provided by (Used in) Investing Activities
Repayments of Notes Payable
Net Cash Provided by (Used in) Financing Activities
Cash, Period Increase (Decrease)
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]
Custom Element.
Estimated income tax benefit (expense)
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Custom Element.
Daro Blankenship member
Lease description
Liabilities and members deficit abstract