Discontinued Operations

3 Months Ended

Mar. 31, 2014

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):

	March 31,		December 31,
	2014		2013
Current Assets:
Accounts receivable, net	$	1	$	6
Total Current Assets		1		6
Total Assets of Discontinued Operations	$	1	$	6
Current Liabilities:
Trade payables	$	17	$	29
Revenues and royalties payable		18		18
Accrued liabilities and other		149		113
Total Current Liabilities		184		160
Total Liabilities of Discontinued Operations	$	184	$	160

Our Accrued Liabilities and Other at March 31, 2014 consist of legal fees related to the XPLOR Energy Litigation (see Note 12 – “Contingencies”).

Cash provided by discontinued operations during the three months ended March 31, 2014 is mainly related to the accrual of legal costs resulting from the sale of the oil and gas properties, a portion of which is pending reimbursement under our insurance policy. Upon resolution of the XPLOR Energy litigation and regulatory matters, no significant activities are expected related to these discontinued operations.

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

	Three Months Ended March 31,
	2014			2013
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	$	(67	)	$	(110	)

No losses on the 2011 disposal of our Gulf Coast oil and gas properties were recognized during the three months ended March 31, 2014 and 2013.