Property, Plant and Equipment

12 Months Ended

Dec. 31, 2015

Property Plant And Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 4—PROPERTY, PLANT AND EQUIPMENT

The following is a summary of natural gas and oil properties at the dates indicated:

	December 31,
	2015			2014
Proved properties:
Leasehold interest	$	332,100		$	332,100
Wells and related equipment		25,756,100			25,756,500
Total natural gas and oil properties		26,088,200			26,088,600
Accumulated depletion and impairment		(25,398,000	)		(24,589,200	)
Gas and oil properties, net	$	690,200		$	1,499,400

The Partnership recorded depletion expense on natural gas and oil properties of $40,400 and $228,700 for the years ended December 31, 2015 and 2014, respectively.

During the year ended December 31, 2015, the Partnership recognized $768,600 of impairment related to gas and oil properties on its balance sheet. This impairment relates to the carrying amount of these gas and oil properties being in excess of the Partnership’s estimate of their fair value at December 31, 2015. The estimate of the fair value of these gas and oil properties was impacted by, among other factors, the deterioration of natural gas and oil prices at the date of measurement. During the year ended December 31, 2014, the Partnership recognized $1,881,400 of impairment related to gas and oil properties on its balance sheet.

As a result of the recent significant declines in commodity prices and associated recorded impairment charges, remaining net book value of gas and oil properties on our balance sheet at December 31, 2015 was primarily related to the estimated salvage value of such properties.  The estimated salvage values were based on the MGP’s historical experience in determining such values and were discounted based on the remaining lives of those wells using an assumed credit adjusted risk-free interest rate.