Discontinued Operations (Tables)

6 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

Following is a reconciliation of the major classes of assets and liabilities of the disposal groups sold during the six months ended December 31, 2016, their carrying values at June 30, 2016, which represented the lesser of historical cost or fair value less costs to sell, and the calculation of the contribution to equity and gain on their disposal recorded at the time of closing of each respective transaction.

	At Time of Closing						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

Following is a reconciliation of the major classes of line items constituting the pretax income (loss) from discontinued operations to the after-tax income (loss) from discontinued operations in the condensed consolidated statements of operations:

	SIX MONTHS ENDED
	December 31,
	2016								2015
	CO2 Business			Weald Basin		Total			CO2 Business			Weald Basin			Total
	(In thousands)
Revenue	$	143		$	—	$	143		$	1,215		$	—		$	1,215
Operating, exploration and general and administrative expenses	41			—		41			1,999			113			2,112
Depletion, depreciation, amortization and accretion	—			—		—			404			—			404
Interest expense and other disposal costs	301			—		301			97			—			97
Total expenses	342			—		342			2,500			113			2,613
Non-controlling interest	(36		)	—		(36		)	25			—			25
Loss from discontinued operations before tax	(235		)	—		(235		)	(1,260		)	(113		)	(1,373		)
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	$	(235	)	$	1,069	$	834		$	(1,260	)	$	(113	)	$	(1,373	)