Assets Held for Sales, Divestitures and Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Divestitures and Discontinued Operations

Piceance Basin. In February 2013, this Partnership's Managing General Partner entered into a purchase and sale agreement with certain affiliates of Caerus, pursuant to which this Partnership agreed to sell to Caerus all of its Piceance Basin assets and certain derivatives. In June 2013, this divestiture was completed with total consideration for this Partnership of approximately $420,000, subject to customary post-closing adjustments. The divestiture of this Partnership's Piceance Basin assets resulted in a decrease of crude oil and natural gas properties of $954,000 and a decrease of accumulated depreciation, depletion and amortization of $699,000. The sale resulted in a gain on divestiture of assets of approximately $201,000.

In July 2013, this Partnership distributed a portion of the proceeds received for the Piceance Basin asset divestiture to the Managing General Partner and Investor Partners as follows:

Distributed to:	Amount
Managing General Partner	$	47,000
Investor Partners	188,000
Total	$	235,000

Following the sale, this Partnership does not have a significant continuing involvement in the operations of, or cash flows from, the Piceance Basin oil and gas properties. Accordingly, the results of operations related to these assets have been separately reported as discontinued operations in the condensed statement of operations for all periods presented.

The following table presents statement of operations data related to this Partnership's discontinued operations for the Piceance Basin divestiture:

	Three Months Ended September 30,			Nine Months Ended September 30,
Statement of Operations - Discontinued Operations	2012			2013			2012
Revenues:
Crude oil, natural gas and NGLs sales	$	26,222		$	80,070		$	91,992
Operating costs and expenses:
Crude oil, natural gas and NGLs production costs	37,472			50,934			139,116
Depreciation, depletion and amortization	9,886			6,356			31,477
Direct costs - general and administrative expense	—			13,774			—
Accretion of asset retirement obligations	967			1,670			2,857
Gain on sale of crude oil and natural gas properties	—			(201,254		)	—
Total operating costs and expenses	48,325			(128,520		)	173,450
Income (loss) from discontinued operations	$	(22,103	)	$	208,590		$	(81,458	)

While the reclassification of revenues and expenses related to discontinued operations for the prior period had no impact upon previously reported net earnings, the statement of operations table presents the revenues and expenses that were reclassified from the specified statement of operations line items to discontinued operations.