XML 51 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 2,799 $ 4,070
Cash held in escrow 283 565
Accounts receivable, net 5,111 6,608
Assets from price risk management 205 6,742
Other current assets 3,130 3,024
Total current assets 11,528 21,009
Oil and gas properties and equipment, successful efforts method:    
Developed properties 238,332 225,382
Wells in progress 2,342 10,963
Gas transportation pipeline 5,510 5,510
Undeveloped properties 2,705 2,734
Corporate and other assets 2,041 2,068
Total oil and gas properties and equipment, successful efforts method 250,930 246,657
Less accumulated depreciation, depletion and amortization (130,518) (109,606)
Net properties and equipment 120,412 137,051
Assets from price risk management 402 682
Other assets 58 68
TOTAL ASSETS 132,400 158,810
Current liabilities:    
Accounts payable and accrued expenses 7,327 11,052
Accrued production taxes 2,275 1,906
Other current liabilities 222 200
Total current liabilities 9,824 13,158
Credit facility 47,450 47,450
Asset retirement obligation 8,420 8,494
Liabilities from price risk management 97  
Deferred tax liability 1,236 7,896
Other long-term liabilities 90 370
Total liabilities 67,117 77,368
Preferred stock, $0.10 par value; 10,000,000 shares authorized; 1,610,000 shares issued and outstanding as of December 31, 2013 and December 31, 2012 37,972 37,972
Stockholders' equity:    
Common stock, $0.10 par value; 50,000,000 shares authorized; issued 11,517,261 and 11,452,473 outstanding at December 31, 2013 and 11,305,043 issued and 11,279,268 outstanding at December 31, 2012 1,145 1,128
Additional paid-in capital 42,302 45,405
Accumulated deficit (16,136) (3,063)
Total stockholders' equity 27,311 43,470
TOTAL LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY $ 132,400 $ 158,810