Supplemental Reserve Information (Tables)

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Quantities of Proved Reserves

Quantities of Proved Reserves:	Crude Oil Bbls			Natural Gas Mcf
Balance December 31, 2016		313,280			3,842,989
Sales of reserves in place		(80	)		(54,210	)
Acquired properties		24,800			3,589,330
Extensions and discoveries		630			310,000
Revisions of previous estimates *		21,392			104,975
Production		(51,082	)		(619,654	)
Balance December 31, 2017		308,940			7,173,430
Sales of reserves in place		—			—
Acquired properties		1,100			3,020
Extensions and discoveries		230			325,070
Revisions of previous estimates *		(5,634	)		222,642
Production		(43,136	)		(874,812	)
Balance December 31, 2018		261,500			6,849,350
Sales of reserves in place		(60	)		(27,530	)
Acquired properties		780			6,970
Extensions and discoveries		—			121,400
Revisions of previous estimates *		8,446			(1,514,053	)
Production		(41,919	)		(916,456	)
Balance December 31, 2019		228,747			4,519,681
		—			—
*  May also include divestitures, not only changes in engineering.
Proved Developed Reserves:
Balance December 31, 2017		308,940			7,173,430
Balance December 31, 2018		261,500			6,849,350
Balance December 31, 2019		228,747			4,519,681

Standardized measure of discounted future net cash flows related to proved reserves:

	Year Ended December 31,
	2019			2018			2017
Future production revenue	$	22,235,000		$	35,572,000		$	33,992,000
Future development costs		—			—			—
Future production costs		(9,167,000	)		(17,830,000	)		(18,700,000	)
Future net cash flow before Federal income taxes		13,068,000			17,742,000			15,292,000
Future income taxes		(1,960,000	)		(2,661,000	)		(3,211,000	)
Future net cash flows		11,108,000			15,081,000			12,081,000
Effect of 10% annual discounting		(5,010,000	)		(4,030,000	)		(2,287,000	)
Standardized measure of discounted cash flows	$	6,098,000		$	11,051,000		$	9,794,000

Changes in the standardized measure of discounted future net cash flows:

	Year Ended December 31,
	2019			2018			2017
Beginning of the year	$	11,051,000		$	9,794,000		$	6,023,000
Sales of oil and gas, net of production costs		(1,950,000	)		(3,194,000	)		(2,318,000	)
Net changes in prices and production costs		(3,558,000	)		2,171,000			721,000
Extensions, discoveries, additions less related costs		17,000			475,000			211,000
Development costs incurred		68,000			181,000			415,000
Net changes in future development cost		—			—			—
Revisions of previous quantity estimates		203,000			284,000			698,000
Net change in purchase and sales of minerals in place		20,000			33,000			3,103,000
Accretion of discount		1,105,000			979,000			602,000
Net change in income taxes		(276,000	)		(103,000	)		(250,000	)
Other		(582,000	)		431,000			589,000
End of year	$	6,098,000		$	11,051,000		$	9,794,000

Allowance for doubtful accounts

SCHEDULE  I I
		Balance		Costs & Expenses		Deductions		Ending Balance
Allowance for doubtful accounts
December 31, 2019	$	15,000	$	—	$	—	$	15,000
December 31, 2018	$	15,000	$	—	$	—	$	15,000
December 31, 2017	$	15,000	$	—	$	—	$	15,000

Real Estate

					SCHEDULE III
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION
Initial Cost to Corporation					Total Cost
Description		Encumbrances	Land	Buildings	Subsequent to Acquisition
Two story multi-tenant garden office building with sub-grade parking garage located in Dallas, Texas		(b)	$    688,000	$ 1,298,000	$       282,000
Gross amounts at which carried at close of year
Land	Buildings	Total	Accumulated Depreciation	Life on which Depreciation Calculated	Date Acquired
$    688,000	$1,580,000	$    2,268,000	$    992,000	(a)	12/27/2004
Notes to Schedule III
(a)  See Footnote 2 to the Financial Statements outlining depreciation methods and lives.
(b)  None

Real Estate reconciliation

(c)  The reconciliation for investments in real estate and accumulated  depreciation for the years ended December 31, 2019 are as follows
		Investments in Real Estate		Accumulated Depreciation
Balance, December 31, 2005	$	1,986,000	$	49,000
Acquisitions		210,000
Depreciation expense				71,000
Balance, December 31, 2006		2,196,000		120,000
Acquisitions		34,000
Depreciation expense				84,000
Balance, December 31, 2007		2,230,000		204,000
Acquisitions		38,000
Depreciation expense				96,000
Balance, December 31, 2008		2,268,000		300,000
Acquisitions
Depreciation expense				100,000
Balance, December 31, 2009		2,268,000		400,000
Acquisitions
Depreciation expense				101,000
Balance, December 31, 2010		2,268,000		501,000
Acquisitions
Depreciation expense				100,000
Balance, December 31, 2011		2,268,000		601,000
Acquisitions
Depreciation expense				51,000
Balance, December 31, 2012		2,268,000		652,000
Acquisitions
Depreciation expense				52,000
Balance, December 31, 2013		2,268,000		704,000
Acquisitions
Depreciation expense				52,000
Balance, December 31, 2014		2,268,000		756,000
Acquisitions
Depreciation expense				47,000
Balance, December 31, 2015		2,268,000		803,000
Acquisitions
Depreciation expense				47,000
Balance, December 31, 2016		2,268,000		850,000
Acquisitions
Depreciation expense				47,000
Balance, December 31, 2017		2,268,000		897,000
Acquisitions
Depreciation expense				48,000
Balance, December 31, 2018		2,268,000		945,000
Acquisitions
Depreciation expense				47,000
Balance, December 31, 2019	$	2,268,000	$	992,000