Discontinued Operations (Tables)

3 Months Ended

Sep. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

:

	THREE MONTHS ENDED
	September 30,
	2016								2015
	CO2 Business			Weald Basin		Total			CO2 Business			Weald Basin			Total
	(In thousands)
Revenue	$	143		$	—	$	143		$	649		$	—		$	649
Operating, exploration and general and administrative expenses	45			—		45			1,329			99			1,428
Depletion, depreciation, amortization and accretion	—			—		—			179			—			179
Interest expense and other disposal costs	301			—		301			65			—			65
Total expenses	346			—		346			1,573			99			1,672
Non-controlling interest	(36		)	—		(36		)	12			—			12
Loss from discontinued operations before tax	(239		)	—		(239		)	(912		)	(99		)	(1,011		)
Gain on disposal of discontinued operations before tax	—			1,069		1,069			—			—			—
Income tax expense (benefit)	—			—		—			—			—			—
Net income (loss) from discontinued operations, net of tax	$	(239	)	$	1,069	$	830		$	(912	)	$	(99	)	$	(1,011	)

	September 30, 2016						June 30, 2016
	CO2 Business		Weald Basin		Total		CO2 Business		Weald Basin		Total
	(In thousands)
Assets sold:
Cash	$	—	$	—	$	—	$	141	$	—	$	141
Accounts receivable	198		—		198		249		—		249
Inventories	242		295		537		232		301		533
Other classes of current assets that are not major	38		—		38		34		—		34
Property and equipment, net	24,294		795		25,089		23,941		812		24,753
Other classes of assets that are not major	204		—		204		332		—		332
Total assets of the disposal groups	$	24,976	$	1,090	$	26,066	$	24,929	$	1,113	$	26,042
Liabilities sold:
Accounts payable	$	1,469	$	648	$	2,117	$	1,594	$	670	$	2,264
Note payable	5,500		—		5,500		5,500		—		5,500
Asset retirement obligations	2,818		—		2,818		2,818		—		2,818
Other classes of liabilities that are not major	55		—		55		56		—		56
Total liabilities of the disposal groups	$	9,842	$	648	$	10,490	$	9,968	$	670	$	10,638
Consideration:
Series A Preferred Stock exchanged	$	23,501	$	—
Secured promissory note forgiven	625		—
Cash received	900		586
Stock of UKOG received	—		925
Total consideration	$	25,026	$	1,511
Contribution to equity from preferred stockholder	$	9,892
Gain on disposal of discontinued operations, net of tax			$	1,069