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Operating Segments (Tables)
 9 Months Ended
Sep. 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 and production, and corporate and other operations.
 
Three Months Ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
Marketing &
 
Corporate &
 
 
 
 
 
Operations
 
Production
 
Other
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
OPERATING REVENUES
 
$
11,356,319
 
$
1,885,718
 
$
-
 
$
13,242,037
 
Intersegment elimination
 
 
(1,220)
 
 
(157,002)
 
 
-
 
 
(158,222)
 
Total operating revenue
 
 
11,355,099
 
 
1,728,716
 
 
-
 
 
13,083,815
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COST OF SALES
 
 
4,584,423
 
 
1,796,914
 
 
-
 
 
6,381,337
 
Intersegment elimination
 
 
(1,220)
 
 
(157,002)
 
 
-
 
 
(158,222)
 
Total cost of sales
 
 
4,583,203
 
 
1,639,912
 
 
-
 
 
6,223,115
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GROSS MARGIN
 
$
6,771,896
 
$
88,804
 
$
-
 
$
6,860,700
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPERATING EXPENSES
 
 
9,335,060
 
 
141,801
 
 
450,737
 
 
9,927,598
 
Intersegment elimination
 
 
(25,245)
 
 
-
 
 
-
 
 
(25,245)
 
Total operating expenses
 
 
9,309,815
 
 
141,801
 
 
450,737
 
 
9,902,353
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPERATING INCOME (LOSS)
 
$
(2,537,919)
 
$
(52,997)
 
$
(450,737)
 
$
(3,041,653)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
 
$
(1,902,628)
 
$
(65,648)
 
$
(295,691)
 
$
(2,263,967)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DISCONTINUED OPERATIONS
 
$
-
 
$
-
 
$
3,394,981
 
$
3,394,981
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
 
$
(1,902,628)
 
$
(65,648)
 
$
3,099,290
 
$
1,131,014
 
 
Three Months Ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
Marketing &
 
Corporate &
 
 
 
 
 
Operations
 
Production
 
Other
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
OPERATING REVENUES
 
$
12,619,151
 
$
2,134,914
 
$
-
 
$
14,754,065
 
Intersegment elimination
 
 
(76,453)
 
 
(1,062,641)
 
 
-
 
 
(1,139,094)
 
Total operating revenue
 
 
12,542,698
 
 
1,072,273
 
 
-
 
 
13,614,971
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COST OF SALES
 
 
5,815,883
 
 
1,923,541
 
 
-
 
 
7,739,424
 
Intersegment elimination
 
 
(76,453)
 
 
(1,062,641)
 
 
-
 
 
(1,139,094)
 
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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
 
$
(879,952)
 
$
(108,248)
 
$
(526,369)
 
$
(1,514,569)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DISCONTINUED OPERATIONS
 
$
-
 
$
-
 
$
34,825
 
$
34,825
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
 
$
(879,952)
 
$
(108,248)
 
$
(491,544)
 
$
(1,479,744)
 
 
Nine Months Ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
Marketing &
 
Corporate &
 
 
 
 
 
Operations
 
Production
 
Other
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
OPERATING REVENUES
 
$
77,419,693
 
$
8,916,218
 
$
-
 
$
86,335,911
 
Intersegment elimination
 
 
(17,081)
 
 
(3,455,972)
 
 
-
 
 
(3,473,053)
 
Total operating revenue
 
 
77,402,612
 
 
5,460,246
 
 
-
 
 
82,862,858
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COST OF SALES
 
 
45,935,722
 
 
8,474,342
 
 
-
 
 
54,410,064
 
Intersegment elimination
 
 
(17,081)
 
 
(3,455,972)
 
 
-
 
 
(3,473,053)
 
Total cost of sales
 
 
45,918,641
 
 
5,018,370
 
 
-
 
 
50,937,011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GROSS MARGIN
 
$
31,483,971
 
$
441,876
 
$
-
 
$
31,925,847
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPERATING EXPENSES
 
 
26,381,246
 
 
596,698
 
 
2,278,814
 
 
29,256,758
 
Intersegment elimination
 
 
(87,275)
 
 
-
 
 
-
 
 
(87,275)
 
Total operating expenses
 
 
26,293,971
 
 
596,698
 
 
2,278,814
 
 
29,169,483
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPERATING INCOME (LOSS)
 
$
5,190,000
 
$
(154,822)
 
$
(2,278,814)
 
$
2,756,364
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
 
$
2,342,145
 
$
(83,643)
 
$
(1,817,786)
 
$
440,716
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DISCONTINUED OPERATIONS
 
$
-
 
$
-
 
$
4,044,776
 
$
4,044,776
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
 
$
2,342,145
 
$
(83,643)
 
$
2,226,990
 
$
4,485,492
 
 
Nine Months Ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
Marketing &
 
Corporate &
 
 
 
 
 
Operations
 
Production
 
Other
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
OPERATING REVENUES
 
$
88,568,864
 
$
13,136,479
 
$
-
 
$
101,705,343
 
Intersegment elimination
 
 
(241,798)
 
 
(5,851,936)
 
 
-
 
 
(6,093,734)
 
Total operating revenue
 
 
88,327,066
 
 
7,284,543
 
 
-
 
 
95,611,609
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COST OF SALES
 
 
56,499,466
 
 
12,389,959
 
 
-
 
 
68,889,425
 
Intersegment elimination
 
 
(241,798)
 
 
(5,851,936)
 
 
-
 
 
(6,093,734)
 
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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
 
$
4,189,646
 
$
(936,885)
 
$
(1,724,284)
 
$
1,528,477
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DISCONTINUED OPERATIONS
 
$
-
 
$
-
 
$
581,652
 
$
581,652
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
 
$
4,189,646
 
$
(936,885)
 
$
(1,142,632)
 
$
2,110,129
 
Schedule of Company's Assets by Operating Segment
The following table presents the Company’s assets by reportable segments:
 
 
 
 
 
Marketing &
 
Corporate &
 
 
 
 
 
Natural Gas
 
Production
 
Other
 
 
 
 
 
Operations
 
Operations
 
Operations
 
Consolidated
 
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
$
14,496,247
 
$
1,376,000
 
$
-
 
$
15,872,247
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total assets
 
$
207,865,565
 
$
8,234,003
 
$
91,209,698
 
$
307,309,266
 
Intersegment eliminations
 
 
(24,460,173)
 
 
(220,953)
 
 
(87,470,043)
 
 
(112,151,169)
 
Total assets
 
$
183,405,392
 
$
8,013,050
 
$
3,739,655
 
$
195,158,097
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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