Sale of Oil and Natural Gas Property Interests

9 Months Ended

Sep. 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 months ended September 30, 2016, the Company received $0.4 million from the sale of pipeline assets.  As a result of this sale, the Company recognized a loss of less than $0.1 million.

During the three months ended September 30, 2016, the Company received $1.1 million from acreage trades with various working interest owners totaling approximately 149.5 acres.

During the nine months ended September 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 nine months ended September 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 nine months ended September 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 nine months ended September 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.