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E. FIXED ASSETS
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
E. FIXED ASSETS

NOTE E – FIXED ASSETS AND OIL AND NATURAL GAS PROPERTIES

 

Land, building and furniture, fixtures and equitpment are recorded at cost incurred to acquire the assets.

 

At December 31, 2019, fixed assets are as follows:

 

Oil and Gas Properties  2019  2018
       
 Land and improvements  $432   $432 
 Buildings and improvements   341    272 
 Equipment and furnishings   528    565 
 Total fixed assets   1,301    1,269 
 Less:  Accumulated depletion   (633)   (651)
 Net Fixed Assets  $668   $618 
           
           
 Oil and natural gas properties   2019    2018 
           
 Investment in Oil and gas properties  $4,805   $6,493 
 Less:  Accumulated depreciation   (4,038)   (3,976)
 Net oil and gas properties  $767   $2,517