Deferred Revenue

3 Months Ended

Mar. 31, 2015

Deferred Revenue [Abstract]

Deferred Revenue

Note 7 – Deferred Revenue

For certain of our U.K. fields, we sell production on a monthly basis; however, the production remains in the field’s storage tanks.  The inventory associated with these sales remains on our balance sheet and the revenue is deferred until the production is shipped out of our storage tanks.

At March 31, 2015, our deferred revenue was entirely attributable to our Alba field.  Delivery of the production is expected to occur during the second quarter of 2015.