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Accounts Payable Due to Drilling Operator
12 Months Ended
Dec. 31, 2014
Text Block [Abstract]  
Accounts Payable Due to Drilling Operator

NOTE 3—ACCOUNTS PAYABLE DUE TO DRILLING OPERATOR

We have historically been the drilling operator for wells drilled on our behalf and other third parties in which we own a working interest. In 2012, another working interest owner became the drilling operator for wells in which we own a working interest. We owed the drilling operator $5,777,983 and $2,698,302 for charges incurred, but not paid, as of December 31, 2014 and 2013, respectively. The amount due to the operator reported at December 31, 2014 has been reduced for consideration received from the Republic purchase and sale agreement, which is to be paid in the form of a credit against the expenses incurred by Republic Energy Ventures on behalf of American Shale (see Note 7). The amount due to the operator reported at December 31, 2014 and 2013, is net of a $708,467 and $637,667 credit respectively, related to a refund of prior drilling costs previously invoiced to America Shale for wells we are not participating in as well as intercompany charges related to employee salary reimbursements, travel expenses, and lease costs.