Discontinued Operations

6 Months Ended

Jun. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

(8) DISCONTINUED OPERATIONS

As a result of the sales of our Gulf Coast oil and gas properties and the abandonment of our coalbed methane projects during 2011, all related activities are included as discontinued operations on the consolidated condensed balance sheets and consolidated condensed statements of operations for all periods presented.

The carrying amounts of the major classes of assets and liabilities for our discontinued oil and gas operations are summarized below (in thousands):

	June 30,		December 31,
	2013		2012
Current Assets:
Accounts receivable, net	$	107	$	—
Total Current Assets		107		—
Total Assets of Discontinued Operations	$	107	$	—
Current Liabilities:
Trade payables	$	106	$	3
Revenues and royalties payable		18		17
Accrued liabilities and other		125		227
Total Current Liabilities		249		247
Total Liabilities of Discontinued Operations	$	249	$	247

Our Accounts Receivable at June 30, 2013 primarily consists of expected insurance recoveries for legal fees related to the Xplor Energy litigation (see Note 13 – “Contingencies”). Our Accrued Liabilities and Other at June 30, 2013 include $125 thousand in legal fees related to this litigation.

Cash used by discontinued operations during the six months ended June 30, 2013 is mainly related to legal costs resulting from the sale of the oil and gas properties. Upon resolution of the XPLOR Energy litigation and regulatory matters, no significant activities are expected related to these discontinued operations.

The revenues and net income before income tax associated with our discontinued oil and gas operations are as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Revenues and other:
Oil and gas operations	$	—		$	—		$	—		$	—
Oil and gas processing and handling income		—			—			—			—
Total revenues from discontinued operations	$	—		$	—		$	—		$	—
Loss from discontinued operations before taxes	$	(161	)	$	(43	)	$	(271	)	$	(220	)

We recognized a gain of $13 thousand and a loss of $69 thousand on the 2011 disposal of our Gulf Coast oil and gas properties during the three months and six months ended June 30, 2012, respectively, as a result of decreases in actual retained plugging and abandonment costs over estimates at December 31, 2011. No additional losses were recognized on this disposal in the first six months of 2013.