Income Taxes	9 Months Ended
Sep. 30, 2018
Income Taxes [Abstract]
Income Taxes	(3) Income Taxes Income taxes are reported in accordance with U.S. GAAP, which requires the establishment of deferred tax accounts for all temporary differences between the financial reporting and tax bases of assets and liabilities, using currently enacted federal and state income tax rates. In addition, deferred tax accounts must be adjusted to reflect new rates if enacted into law. The deferred income tax assets or liabilities for an oil and gas exploration and development company are dependent on many variables such as estimates of the economic lives of depleting oil and gas reserves and commodity prices. Accordingly, the asset or liability is subject to continuous recalculation, and revision of the numerous estimates required, and may change significantly in the event of occurrences such as major acquisitions, divestitures, commodity price changes, changes in reserve estimates, changes in reserve lives, and changes in tax rates or tax laws. The Company has computed an estimated annual effective tax rate for the current reporting year of 0% based upon the year-to-date and forecasted book income and cumulative loss position for the three year period ended December 31, 2018. Accordingly, the Company has recorded no provision or benefit for income taxes for the current reporting period. At December 31, 2017, federal net operating loss carryforwards amounted to approximately $34.8 million which expire between 2019 and 2036. In 2017, the Company released a portion of the valuation allowance related to the Company’s Minimum Tax Credit (“MTC”) as a result of the 2017 Tax Act. The net total deferred tax asset of $242,000 was recorded as a non-current receivable at December 31, 2017. At September 30, 2018, based upon its expected recovery, the Company reclassified $121,000 of this tax related non-current receivable as a current receivable. The Company recorded a valuation allowance on the remaining deferred tax assets at September 30, 2018 and December 31, 2017 as such amounts were not considered to be more-likely-than-not realizable due to cumulative losses incurred during the preceding 3 year period. There were no recorded unrecognized tax benefits at September 30, 2018.

(3) Income Taxes

Income taxes are reported in accordance with U.S. GAAP, which requires the establishment of deferred tax accounts for all temporary differences between the financial reporting and tax bases of assets and liabilities, using currently enacted federal and state income tax rates. In addition, deferred tax accounts must be adjusted to reflect new rates if enacted into law.

The deferred income tax assets or liabilities for an oil and gas exploration and development company are dependent on many variables such as estimates of the economic lives of depleting oil and gas reserves and commodity prices. Accordingly, the asset or liability is subject to continuous recalculation, and revision of the numerous estimates required, and may change significantly in the event of occurrences such as major acquisitions, divestitures, commodity price changes, changes in reserve estimates, changes in reserve lives, and changes in tax rates or tax laws.

The Company has computed an estimated annual effective tax rate for the current reporting year of 0% based upon the year-to-date and forecasted book income and cumulative loss position for the three year period ended December 31, 2018. Accordingly, the Company has recorded no provision or benefit for income taxes for the current reporting period.

At December 31, 2017, federal net operating loss carryforwards amounted to approximately $34.8 million which expire between 2019 and 2036. In 2017, the Company released a portion of the valuation allowance related to the Company’s Minimum Tax Credit (“MTC”) as a result of the 2017 Tax Act. The net total deferred tax asset of $242,000 was recorded as a non-current receivable at December 31, 2017. At September 30, 2018, based upon its expected recovery, the Company reclassified $121,000 of this tax related non-current receivable as a current receivable. The Company recorded a valuation allowance on the remaining deferred tax assets at September 30, 2018 and December 31, 2017 as such amounts were not considered to be more-likely-than-not realizable due to cumulative losses incurred during the preceding 3 year period. There were no recorded unrecognized tax benefits at September 30, 2018.