Provision for Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax (Benefit) Provision

The Company’s income tax (benefit) provision is as follows:

	2014			2013
Current:	$	—		$	—
Deferred:
Change in depreciation, depletion and amortization	$	1,437,000		$	2,895,000
Change in unrealized gain (loss) on derivative		2,841,000			232,000
Change in other items		(17,000	)		128,000
Change in NOL		(4,160,000	)		(11,783,000	)
Change in accruals		(1,020,000	)		—
Change in valuation allowance		919,000			8,528,000
Total	$	—		$	—

Net Deferred Tax Assets and Liabilities

Net deferred tax assets and liabilities consist of the following components as of December 31, 2014 and 2013:

	2014			2013
Deferred tax assets:
NOL carryover	$	21,625,000		$	17,465,000
AMT credit		606,000			606,000
Accruals		1,020,000			—
Unrealized loss on derivative contract		—			43,000
Other		31,000			14,000
Total deferred tax assets		23,282,000			18,128,000
Deferred tax liabilities:
Depreciation, depletion and amortization		(4,884,000	)		(3,447,000	)
Unrealized gain on derivative contract		(2,798,000	)		—
Total deferred tax liabilities		(7,682,000	)		(3,447,000	)
Valuation allowance		(15,600,000	)		(14,681,000	)
Net deferred taxes	$	—		$	—