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6. GOODWILL
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL

Goodwill represents the excess of the cost over the net tangible and identifiable intangible assets of acquired businesses.

 

There was no goodwill at any time during for the year ended December 31, 2015.  The quantitative assessment of goodwill we performed as of December 31, 2014, which was a Level 3 fair value determination (based on estimated discounted cash flows), indicated that goodwill was impaired. This result occurred primarily due to the adverse impact of recently declining oil prices on current and anticipated future oil and gas development activity. We recorded goodwill impairment expense of $4,916 for the year ended December 31, 2014, which eliminated the remaining goodwill balance.