Operating Segments (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Summary of Financial Information for Operating Segments

The following tables set forth summarized financial information for the Company’s natural gas, marketing and production, and corporate & other operations.

Three Months Ended September 30, 2014

	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	12,544,151	$	2,134,914	$	-	$	14,679,065
Intersegment elimination		(1,453)		(1,062,641)		-		(1,064,094)
Total operating revenue		12,542,698		1,072,273		-		13,614,971
COST OF SALES		5,740,883		1,923,541		-		7,664,424
Intersegment elimination		(1,453)		(1,062,641)		-		(1,064,094)
Total cost of sales		5,739,430		860,900		-		6,600,330
GROSS MARGIN	$	6,803,268	$	211,373	$	-	$	7,014,641
OPERATING EXPENSES		8,146,216		372,682		873,202		9,392,100
Intersegment elimination		(26,571)		-		-		(26,571)
Total operating expenses		8,119,645		372,682		873,202		9,365,529
OPERATING INCOME (LOSS)	$	(1,316,377)	$	(161,309)	$	(873,202)	$	(2,350,888)
DISCONTINUED OPERATIONS	$	-	$	-	$	34,825	$	34,825
NET INCOME (LOSS)	$	(879,952)	$	(108,248)	$	(491,544)	$	(1,479,744)

Three Months Ended September 30, 2013

	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	11,502,306	$	4,036,248	$	-	$	15,538,554
Intersegment elimination		(2,143)		(1,919,083)		-		(1,921,226)
Total operating revenue		11,500,163		2,117,165		-		13,617,328
COST OF SALES		4,683,408		3,620,637		-		8,304,045
Intersegment elimination		(2,143)		(1,919,083)		-		(1,921,226)
Total cost of sales		4,681,265		1,701,554		-		6,382,819
GROSS MARGIN	$	6,818,898	$	415,611	$	-	$	7,234,509
OPERATING EXPENSES		7,304,083		604,673		392,044		8,300,800
Intersegment elimination		(25,185)		-		-		(25,185)
Total operating expenses		7,278,898		604,673		392,044		8,275,615
OPERATING INCOME (LOSS)	$	(460,000)	$	(189,062)	$	(392,044)	$	(1,041,106)
DISCONTINUED OPERATIONS	$	-	$	-	$	(154,292)	$	(154,292)
NET INCOME (LOSS)	$	(440,255)	$	(129,525)	$	(434,558)	$	(1,004,338)

Nine Months Ended September 30, 2014

	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	88,343,864	$	13,136,479	$	-	$	101,480,343
Intersegment elimination		(16,798)		(5,851,936)		-		(5,868,734)
Total operating revenue		88,327,066		7,284,543		-		95,611,609
COST OF SALES		56,274,466		12,389,959		-		68,664,425
Intersegment elimination		(16,798)		(5,851,936)		-		(5,868,734)
Total cost of sales		56,257,668		6,538,023		-		62,795,691
GROSS MARGIN	$	32,069,398	$	746,520	$	-	$	32,815,918
OPERATING EXPENSES		24,301,048		2,156,684		2,464,547		28,922,279
Intersegment elimination		(77,561)		-		-		(77,561)
Total operating expenses		24,223,487		2,156,684		2,464,547		28,844,718
OPERATING INCOME (LOSS)	$	7,845,911	$	(1,410,164)	$	(2,464,547)	$	3,971,200
DISCONTINUED OPERATIONS	$	-	$	-	$	581,652	$	581,652
NET INCOME (LOSS)	$	4,189,646	$	(936,885)	$	(1,142,632)	$	2,110,129

Nine Months Ended September 30, 2013

	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	64,797,098	$	13,852,389	$	-	$	78,649,487
Intersegment elimination		(17,502)		(5,517,763)		-		(5,535,265)
Total operating revenue		64,779,596		8,334,626		-		73,114,222
COST OF SALES		36,443,585		12,312,274		-		48,755,859
Intersegment elimination		(17,502)		(5,517,763)		-		(5,535,265)
Total cost of sales		36,426,083		6,794,511		-		43,220,594
GROSS MARGIN	$	28,353,513	$	1,540,115	$	-	$	29,893,628
OPERATING EXPENSES		21,114,497		1,109,762		1,046,918		23,271,177
Intersegment elimination		(71,414)		-		-		(71,414)
Total operating expenses		21,043,083		1,109,762		1,046,918		23,199,763
OPERATING INCOME (LOSS)	$	7,310,430	$	430,353	$	(1,046,918)	$	6,693,865
DISCONTINUED OPERATIONS	$	-	$	-	$	402,062	$	402,062
NET INCOME (LOSS)	$	3,787,103	$	297,808	$	(628,442)	$	3,456,469

Schedule of Company's Assets by Operating Segment

The following table shows the Company’s assets by operating segment.

September 30, 2014 

	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
Investment in unconsolidated affiliate	$	-	$	350,748	$	-	$	350,748
Goodwill		14,891,377		1,376,000		-		16,267,377
Total assets	$	193,413,912	$	7,963,197	$	94,147,121	$	295,524,230
Intersegment eliminations		(65,360,265)		(2,903,865)		(28,637,733)		(96,901,863)
Total assets	$	128,053,647	$	5,059,332	$	65,509,388	$	198,622,367

December 31, 2013 

	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
Investment in unconsolidated affiliate	$	-	$	351,724	$	-	$	351,724
Goodwill		14,891,377		1,376,000		-		16,267,377
Total assets	$	184,097,483	$	11,633,544	$	94,981,858	$	290,712,885
Intersegment eliminations		(53,772,095)		(3,678,311)		(29,518,864)		(86,969,270)
Total assets	$	130,325,388	$	7,955,233	$	65,462,994	$	203,743,615