Oil and Gas Producing Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Oil and Gas Producing Activities (Unaudited) [Abstract]

Cost incurred in oil and gas exploration and development activities

Total costs incurred in oil and gas exploration and development activities, all within the United States, were as follows (in thousands):

	For the year Ended December 31,
	2014		2013		2012
Property acquisition costs
Unproved	$	1,144	$	1,444	$	1,965
Proved		-		-		-
Exploration costs
Expensed		5,054		1,619		1,151
Capitalized		-		-		-
Development costs		1,745		10,160		20,219
Total costs incurred	$	7,943	$	13,223	$	23,335

Capitalized costs relating to oil and gas producing activities

The aggregate capitalized costs relative to oil and gas producing activities are as follows (in thousands):

	As of December 31,
	2014			2013
Unproved oil and gas properties	$	3,104		$	7,578
Proved oil and gas properties		85,557			91,369
		88,661			98,947
Accumulated depreciation, depletion
and amortization		(64,682	)		(64,169	)
Net capitalized cost	$	23,979		$	34,778

Proved developed and undeveloped oil and gas reserves

Proved developed and undeveloped reserves are presented as follows (in thousands):

	Years Ended December 31,
	2014						2013						2012
	Natural						Natural						Natural
	Gas			Oil			Gas			Oil			Gas			Oil
	(Mcf’s)			(Bbls.)			(Mcf’s)			(Bbls.)			(Mcf’s)			(Bbls.)
Total proved reserves-
Beginning of year		6,286			368			8,837			307			9,661			292
Revisions of previous estimates		724			6			(1,438	)		(17	)		(507	)		29
Oil and gas reserves sold		(558	)		(11	)		(28	)		-			(104	)		(54	)
Extensions, discoveries and
other reserve additions		292			82			523			180			2,395			138
Production		(1,133	)		(127	)		(1,608	)		(102	)		(2,608	)		(98	)
End of year		5,611			318			6,286			368			8,837			307

Components of proved oil and gas reserves

The components of proved oil and gas reserves for the three years ended December 31, 2014 is presented below.  All reserves are in the United States (in thousands):

	Years Ended December 31,
	2014				2013				2012
	Natural				Natural				Natural
	Gas		Oil		Gas		Oil		Gas		Oil
	(Mcf’s)		(Bbls.)		(Mcf’s)		(Bbls.)		(Mcf’s)		(Bbls.)
Proved developed reserves		5,482		299		6,157		367		8,708		306
Proved undeveloped reserves		129		19		129		1		129		1
Total proved reserves		5,611		318		6,286		368		8,837		307

Standardized measure of discounted future net cash flows

The standardized measure of discounted future net cash flows is presented as follows (in thousands):

	Years Ended December 31,
	2014			2013			2012
Future gross revenues	$	58,885		$	64,495		$	59,793
Future costs -
Lease operating expenses		(16,421	)		(19,207	)		(16,357	)
Development costs		(1,068	)		(119	)		(299	)
Future net cash flows before income taxes		41,396			45,169			43,137
Discount at 10% per annum		(17,175	)		(17,729	)		(17,976	)
Discounted future net cash flows
before income taxes		24,221			27,440			25,161
Future income taxes, net of discount at
10% per annum		(8,477	)		(9,604	)		(8,806	)
Standardized measure of discounted
future net cash flows	$	15,744		$	17,836		$	16,355

Effect of income taxes and discounting on the standardized measure of discounted future net cash flows

The effect of income taxes and discounting on the standardized measure of discounted future net cash flows is presented as follows (in thousands):

	Years ended December 31,
	2014			2013			2012
Future net cash flows before income taxes	$	41,396		$	45,169		$	43,137
Future income taxes		(14,489	)		(15,809	)		(15,098	)
Future net cash flows		26,907			29,360			28,039
Discount at 10% per annum		(11,163	)		(11,524	)		(11,684	)
Standardized measure of discounted
future net cash flows	$	15,744		$	17,836		$	16,355

Principal sources of changes in the standardized measure of discounted future net flows

The principal sources of changes in the standardized measure of discounted future net flows are as follows (in thousands):

	Years Ended December 31,
	2014			2013			2012
Beginning of year	$	17,836		$	16,355		$	20,931
Sale of oil and gas reserves		(981	)		-			(3,802	)
Net change in prices and production costs		(72	)		9,341			(5,313	)
New field discoveries and extensions, net of future
production costs		4,456			9,767			9,513
Sales of oil and gas produced, net of production costs		(6,590	)		(8,373	)		(8,953	)
Net change due to revisions in quantity estimates		2,460			(3,624	)		(940	)
Accretion of discount		1,773			1,797			1,944
Production rate changes and other		(4,265	)		(6,629	)		511
Net change in income taxes		1,127			(798	)		2,464
End of year	$	15,744		$	17,836		$	16,355

Results of operations for oil and gas producing activities

The results of oil and gas producing activities, excluding corporate overhead and interest costs, are as follows (in thousands):

	Years Ended December 31,
	2014			2013			2012
Revenues	$	13,361		$	14,129		$	15,954
Costs and expenses -
Production		(6,771	)		(5,756	)		(7,091	)
Producing property impairment		(4,001	)		(1,373	)		(4,699	)
Exploration		(5,054	)		(1,619	)		(1,151	)
Oil and natural gas property sale gain		2,528			-			2,203
Depreciation, depletion and amortization		(7,573	)		(7,494	)		(8,848	)
Operating income (loss) before income taxes		(7,510	)		(2,113	)		(3,632	)
Income tax benefit		2,628			739			1,271
Operating income (loss)	$	(4,882	)	$	(1,374	)	$	(2,361	)