XML 73 R62.htm IDEA: XBRL DOCUMENT v3.8.0.1
LAND AND SUBSURFACE INTERESTS - Subsurface Interests (Details)
3 Months Ended 12 Months Ended 84 Months Ended
May 01, 2018
a
Oct. 11, 2017
Sep. 20, 2017
Mar. 31, 2018
USD ($)
a
county
$ / shares
Mar. 31, 2017
USD ($)
a
Dec. 31, 2011
Dec. 31, 2017
USD ($)
a
Subsurface interests              
Acres sold | a 6,007            
Lease income              
Over Lease Term       $ 9,389,000 $ 7,275,000    
Number of acres with operating oil wells | a       800 800    
Subsurface Interests              
Lease income              
Revenue recognized for cash payments for the release of surface entry rights         $ 0    
Oil exploration              
Subsurface interests              
Lease term     13 years        
Period of extended lease term     5 years        
Period of lease term after which lessee has option to terminate lease       1 year      
Lease payments on the respective acreages and drilling penalties received              
Lease Payment             $ 9,827,121
Drilling Penalty             $ 1,975,000
Lease income              
Period from end of prior lease year payment for drilling penalty is due       30 days      
Over Lease Term       $ 199,000 199,000    
Hendry County              
Lease income              
Area of land for which surface entry rights were released | a       40      
Minimum | Oil exploration              
Lease income              
Period of lease term after which additional rental payments may be received       8 years      
Maximum | Oil exploration              
Subsurface interests              
Lease term   13 years       8 years  
Lease income              
Period of lease term after which additional rental payments may be received       13 years      
Surface land over subsurface interests              
Subsurface interests              
Acres | a       461,000      
Number of counties in which Subsurface Interests are owned | county       20      
Gain on Sale       $ 435,000      
After tax gain on sale (in dollars per share) | $ / shares       $ 0.06      
Lease income              
Area of land for which surface entry rights were released | a       600      
Real Estate Operations              
Lease income              
Over Lease Term       $ 199,000 199,000    
Lease Year 1 - 9/23/2011 - 9/22/2012 | Lee and Hendry County | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             136,000
Lease Payment             $ 913,657
Lease Year 2 - 9/23/2012 - 9/22/2013 | Lee and Hendry County | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             136,000
Lease Payment             $ 922,114
Lease Year 3 - 9/23/2013 - 9/22/2014 | Hendry County | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             82,000
Lease Payment             $ 3,293,000
Drilling Penalty             $ 1,000,000
Lease Year 4 - 9/23/2014 - 9/22/2015 | Hendry County | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             42,000
Lease Payment             $ 1,866,146
Drilling Penalty             $ 600,000
Lease Year 5 - 9/23/2015 - 9/22/2016 | Hendry County | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             25,000
Lease Payment             $ 1,218,838
Drilling Penalty             $ 175,000
Lease Year 6 - 9/23/2016 - 9/22/2017 | Hendry County | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             15,000
Lease Payment             $ 806,683
Drilling Penalty             $ 150,000
Lease Year 7 - 9/23/2017 - 9/22/2018 | Oil exploration              
Lease payments on the respective acreages and drilling penalties received              
Acreage | a             15,000
Lease Payment             $ 806,683
Drilling Penalty             $ 50,000
Subsurface Revenue - Other              
Subsurface interests              
Revenue from contract with customer, including assessed tax       547,000      
Subsurface Revenue - Other | Real Estate Operations              
Subsurface interests              
Revenue from contract with customer, including assessed tax       547,000      
Subsurface Revenue - Other | Real Estate Operations | Hendry County              
Subsurface interests              
Revenue from contract with customer, including assessed tax       320,000      
Subsurface Revenue - Other | Real Estate Operations | Surface land over subsurface interests              
Subsurface interests              
Revenue from contract with customer, including assessed tax       185,000      
Royalty | Real Estate Operations | Subsurface Interests              
Subsurface interests              
Revenue from contract with customer, including assessed tax       $ 32,000      
Calculated under Revenue Guidance in Effect before Topic 606 | Subsurface Revenue - Other              
Subsurface interests              
Revenue from contract with customer, including assessed tax         32,000    
Calculated under Revenue Guidance in Effect before Topic 606 | Subsurface Revenue - Other | Real Estate Operations              
Subsurface interests              
Revenue from contract with customer, including assessed tax         32,000    
Calculated under Revenue Guidance in Effect before Topic 606 | Royalty | Real Estate Operations | Subsurface Interests              
Subsurface interests              
Revenue from contract with customer, including assessed tax         $ 31,000