Sale of Oil and Natural Gas Property Interests

6 Months Ended

Jun. 30, 2017

Discontinued Operations And Disposal Groups [Abstract]

Sale of Oil and Natural Gas Property Interests

Note 4—Sale of Oil and Natural Gas Property Interests

During the three and six months ended June 30, 2016, the Company completed the sale of its Conventional oil and gas properties and related equipment for approximately $4.7 million. As a result of this sale, the Company recognized a gain of approximately $1.0 million.

During the three and six months ended June 30, 2016, the Company received $3.9 million from the sale of mineral interests related primarily to unproved properties to a third party.  No gain or loss was recognized for this transaction, which was recorded as a reduction of oil and natural gas properties.

During the six months ended June 30, 2016, the Company received $4.8 million from the sale of unproved leases to a third party. No gain or loss was recognized for this transaction, which was recorded as a reduction of oil and natural gas properties.

During the three and six months ended June 30, 2017, the Company received approximately $0.5 million from a completed asset sale with a third party totaling approximately 100 acres.  No gain or loss was recognized for this transaction, which was recorded as a reduction of oil and natural gas properties.