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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenue:        
Oil and gas $ 5,664 $ 5,122 $ 17,710 $ 13,143
Commodity derivative gain (loss) 689 (265) (79) (190)
Other income 82 92 254 325
Total revenue 6,435 4,949 17,885 13,278
Expenses:        
Lease operating expenses 786 662 2,523 1,914
Transportation costs 450 400 1,341 1,162
Production and property taxes 481 369 1,350 965
General and administrative 1,698 1,266 4,617 3,760
Depreciation, depletion and amortization 815 767 2,307 2,069
Accretion of asset retirement obligations 29 36 87 103
Total expenses 4,259 3,500 12,225 9,973
Operating income 2,176 1,449 5,660 3,305
Other income and (expense):        
Interest expense (116) (157) (362) (470)
Equity investment income (loss) 2 2 7 (77)
Total other income and (expense) (114) (155) (355) (547)
Income before income taxes 2,062 1,294 5,305 2,758
Provision for income taxes            
Net income before non-controlling interests 2,062 1,294 5,305 2,758
Net income (loss) attributable to non-controlling interests 49 (20) 203 (32)
Net income attributable to controlling interest $ 2,013 $ 1,314 $ 5,102 $ 2,790
Net income per common share:        
Basic $ 0.02 $ 0.01 $ 0.05 $ 0.02
Diluted $ 0.02 $ 0.01 $ 0.04 $ 0.02
Weighted average common shares outstanding:        
Basic 105,683 112,513 110,196 112,468
Diluted 110,808 120,334 115,292 120,270