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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Oil and gas sales $ 10,888 $ 11,230 $ 29,923 $ 32,754
Production services 3,229 5,615 9,528 17,415
Office services 139 155 432 474
Gain on divestiture 0 6,554 600 8,378
Other 166 274 502 656
Total revenues 14,422 23,828 40,985 59,677
Operating expenses        
Lease operating expense, transportation and taxes 2,307 3,775 6,969 11,674
Depreciation, depletion and amortization 1,549 2,643 4,484 7,449
Impairment of oil and gas assets 0 22,781 583 24,619
Accretion expense 227 216 668 637
Production services 3,345 5,778 10,699 16,500
Loss (gain) from plug and abandonment 0 33 (24) 36
General and administrative 1,093 1,482 3,353 3,727
Total operating expenses 8,521 36,708 26,732 64,642
Operating income (loss) 5,901 (12,880) 14,253 (4,965)
Other expenses        
Interest expense, net 1,235 1,160 3,615 1,248
Interest expense – related party, net 0 0 0 2,878
Loss (gain) from derivative contracts, net (181) 1,734 2,170 2,406
Capital loss 38 53 55 80
Total other expenses 1,092 2,947 5,840 6,612
Income (loss) before income taxes 4,809 (15,827) 8,413 (11,577)
Income tax (expense) benefit (1,815) 5,379 (3,403) 3,705
Net income (loss) 2,994 (10,448) 5,010 (7,872)
Net loss attributable to non-controlling interests (379) (459) (1,306) (993)
Net income (loss) attributable to Isramco $ 3,373 $ (9,989) $ 6,316 $ (6,879)
Earnings (loss) per share – basic: (in Dollars per share) $ 1.24 $ (3.68) $ 2.32 $ (2.53)
Earnings (loss) per share – diluted: (in Dollars per share) $ 1.24 $ (3.68) $ 2.32 $ (2.53)
Weighted average number of shares outstanding basic: (in Shares) 2,717,691 2,717,691 2,717,691 2,717,691
Weighted average number of shares outstanding diluted: (in Shares) 2,717,691 2,717,691 2,717,691 2,717,691