Provision For Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Provision For Income Taxes [Abstract]

Summary of Federal, State and Foreign Income Tax Provision (Benefit)

Our federal, state and foreign income tax provision (benefit) is summarized below (in thousands):

	For the Year Ended December 31,
	2015		2014
Current:
Federal	$	2	$	—
State		53		—
Total current		55		—
Deferred:
Federal		—		—
State		—		—
Total deferred		—		—
Total provision for income taxes	$	55	$	—

Reconciliation of Provision for (Benefit from) Income Taxes

A reconciliation of the provision for (benefit from) income taxes with amounts determined by applying the statutory U.S. federal income tax rate to income before income taxes is as follows (in thousands):

	For the Year Ended December 31,
	2015			2014
Pre-Tax Net Book Loss "NBI"	$	(137,001)		$	—
Texas Margin Tax (a)		780			—
Return to Accrual		55			—
Valuation Allowance		(780)			—
Provision for income taxes	$	55		$	—
Effective income tax rate		(0.04)	%		-	%

(a) Although the Texas Margin Tax is not considered a state income tax, it has the characteristics of an income tax since it is determined by applying a tax rate to a base that considers our Texas-sourced revenues and expenses.

Significant Components of Deferred Tax Assets and Deferred Tax Liabilities

The following table presents the significant components of deferred tax assets and deferred tax liabilities at the dates indicated (in thousands):

	For the Year Ended December 31,
	2015		2014
Deferred tax assets (liabilities):
Derivative assets	$	(63)	$	—
Depreciable, depletable property, plant and equipment		843		—
Deferred tax assets:		780		—
Valuation allowance		(780)		—
Total Deferred tax assets	$	—	$	—