Operating Segments (Tables)

6 Months Ended

Jun. 30, 2015

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 & production, and corporate & other operations.

Three Months Ended June 30, 2015
	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	14,846,487	$	2,404,029	$	-	$	17,250,516
Intersegment elimination		(78,704)		(1,125,730)		-		(1,204,434)
Total operating revenue		14,767,783		1,278,299		-		16,046,082
COST OF SALES		7,552,789		2,197,299		-		9,750,088
Intersegment elimination		(78,704)		(1,125,730)		-		(1,204,434)
Total cost of sales		7,474,085		1,071,569		-		8,545,654
GROSS MARGIN	$	7,293,698	$	206,730	$	-	$	7,500,428
OPERATING EXPENSES		8,232,263		222,141		949,182		9,403,586
Intersegment elimination		(26,345)		-		-		(26,345)
Total operating expenses		8,205,918		222,141		949,182		9,377,241
OPERATING INCOME (LOSS)	$	(912,220)	$	(15,411)	$	(949,182)	$	(1,876,813)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	$	(868,587)	$	(21,636)	$	(821,851)	$	(1,712,074)
DISCONTINUED OPERATIONS	$	-	$	-	$	212,879	$	212,879
NET INCOME (LOSS)	$	(868,587)	$	(21,636)	$	(608,972)	$	(1,499,195)

Three Months Ended June 30, 2014
	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	19,055,806	$	3,071,792	$	-	$	22,127,598
Intersegment elimination		(78,801)		(1,548,878)		-		(1,627,679)
Total operating revenue		18,977,005		1,522,914		-		20,499,919
COST OF SALES		10,750,435		2,985,036		-		13,735,471
Intersegment elimination		(78,801)		(1,548,878)		-		(1,627,679)
Total cost of sales		10,671,634		1,436,158		-		12,107,792
GROSS MARGIN	$	8,305,371	$	86,756	$	-	$	8,392,127
OPERATING EXPENSES		8,334,948		1,401,544		420,429		10,156,921
Intersegment elimination		(500)		-		(25,245)		(25,745)
Total operating expenses		8,334,448		1,401,544		395,184		10,131,176
OPERATING INCOME (LOSS)	$	(29,077)	$	(1,314,788)	$	(395,184)	$	(1,739,049)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	$	(317,705)	$	(849,438)	$	(326,356)	$	(1,493,499)
DISCONTINUED OPERATIONS	$	-	$	-	$	64,881	$	64,881
NET INCOME (LOSS)	$	(317,705)	$	(849,438)	$	(261,475)	$	(1,428,618)

Six Months Ended June 30, 2015
	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	66,213,374	$	7,030,500	$	-	$	73,243,874
Intersegment elimination		(165,861)		(3,298,970)		-		(3,464,831)
Total operating revenue		66,047,513		3,731,530		-		69,779,043
COST OF SALES		41,501,299		6,677,428		-		48,178,727
Intersegment elimination		(165,861)		(3,298,970)		-		(3,464,831)
Total cost of sales		41,335,438		3,378,458		-		44,713,896
GROSS MARGIN	$	24,712,075	$	353,072	$	-	$	25,065,147
OPERATING EXPENSES		17,046,186		454,897		1,828,077		19,329,160
Intersegment elimination		(62,030)		-		-		(62,030)
Total operating expenses		16,984,156		454,897		1,828,077		19,267,130
OPERATING INCOME (LOSS)	$	7,727,919	$	(101,825)	$	(1,828,077)	$	5,798,017
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	$	4,244,773	$	(17,995)	$	(1,522,095)	$	2,704,683
DISCONTINUED OPERATIONS	$	-	$	-	$	649,795	$	649,795
NET INCOME (LOSS)	$	4,244,773	$	(17,995)	$	(872,300)	$	3,354,478

Six Months Ended June 30, 2014
	Natural Gas		Marketing &		Corporate &
	Operations		Production		Other		Consolidated
OPERATING REVENUES	$	75,949,713	$	11,001,565	$	-	$	86,951,278
Intersegment elimination		(165,345)		(4,789,295)		-		(4,954,640)
Total operating revenue		75,784,368		6,212,270		-		81,996,638
COST OF SALES		50,683,583		10,466,418		-		61,150,001
Intersegment elimination		(165,345)		(4,789,295)		-		(4,954,640)
Total cost of sales		50,518,238		5,677,123		-		56,195,361
GROSS MARGIN	$	25,266,130	$	535,147	$	-	$	25,801,277
OPERATING EXPENSES		16,154,832		1,784,002		1,641,835		19,580,669
Intersegment elimination		(500)		-		(50,490)		(50,990)
Total operating expenses		16,154,332		1,784,002		1,591,345		19,529,679
OPERATING INCOME (LOSS)	$	9,111,798	$	(1,248,855)	$	(1,591,345)	$	6,271,598
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	$	5,069,598	$	(828,637)	$	(1,197,915)	$	3,043,046
DISCONTINUED OPERATIONS	$	-	$	-	$	546,827	$	546,827
NET INCOME (LOSS)	$	5,069,598	$	(828,637)	$	(651,088)	$	3,589,873

Schedule of Company's Assets by Operating Segment

The following table presents the Company’s assets by reportable segments:

	Natural Gas Operations		Marketing & Production Operations		Corporate & Other Operations		Consolidated
June 30, 2015
Goodwill	$	14,496,247	$	1,376,000	$	-	$	15,872,247
Total assets	$	202,691,167	$	7,607,996	$	92,937,648	$	303,236,811
Intersegment eliminations		(64,603,706)		(3,114,626)		(34,267,501)		(101,985,833)
Total assets	$	138,087,461	$	4,493,370	$	58,670,147	$	201,250,978
December 31, 2014
Goodwill	$	14,779,672	$	1,376,000	$	-	$	16,155,672
Total assets	$	214,030,368	$	9,192,830	$	100,781,302	$	324,004,500
Intersegment eliminations		(68,714,744)		(2,714,405)		(38,571,439)		(110,000,588)
Total assets	$	145,315,624	$	6,478,425	$	62,209,863	$	214,003,912