Oil and Gas Producing Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2013

Oil and Gas Producing Activities (Unaudited) [Abstract]

Cost incurred in oil and gas exploration and development activities

Total costs incurred in oil and gas exploration and development activities, all incurred within the United States, were as follows (in thousands):

	Years Ended December 31,
	2013		2012		2011
Property acquisition costs
Unproved	$	1,444	$	1,965	$	3,591
Proved		-		-		-
Exploration costs
Expensed		1,619		1,151		9,166
Capitalized		-		-		-
Development costs		10,160		20,219		12,133
Total costs incurred	$	13,223	$	23,335	$	24,890

Capitalized costs relating to oil and gas producing activities

The aggregate capitalized costs relative to oil and gas producing activities are as follows (in thousands):

	December 31,
	2013			2012
Unproved oil and gas properties	$	7,578		$	8,349
Proved oil and gas properties		91,369			82,083
		98,947			90,432
Accumulated depreciation, depletion
and amortization		(64,169	)		(57,833	)
Net capitalized cost	$	34,778		$	32,599

Proved developed and undeveloped oil and gas reserves

Proved developed and undeveloped reserves are presented as follows (in thousands):

	Years Ended December 31,
	2013						2012						2011
	Natural						Natural						Natural
	Gas			Oil			Gas			Oil			Gas			Oil
	(Mcf’s)			(Bbls.)			(Mcf’s)			(Bbls.)			(Mcf’s)			(Bbls.)
Total proved reserves-
Beginning of year		8,837			307			9,661			292			7,794			267
Revisions of previous estimates		(1,438	)		(17	)		(507	)		29			(520	)		(24	)
Oil and gas reserves sold		(28	)		-			(104	)		(54	)		(2,148	)		(26	)
Extensions, discoveries and
other reserve additions		523			180			2,395			138			6,430			137
Production		(1,608	)		(102	)		(2,608	)		(98	)		(1,895	)		(62	)
End of year		6,286			368			8,837			307			9,661			292

Components of proved oil and gas reserves

The components of proved oil and gas reserves for the three years ended December 31, 2013 is presented below.  All reserves are in the United States (in thousands):

	Years Ended December 31,
	2013				2012				2011
	Natural				Natural				Natural
	Gas		Oil		Gas		Oil		Gas		Oil
	(Mcf’s)		(Bbls.)		(Mcf’s)		(Bbls.)		(Mcf’s)		(Bbls.)
Proved developed reserves		6,157		367		8,708		306		9,433		277
Proved undeveloped reserves		129		1		129		1		228		15
Total proved reserves		6,286		368		8,837		307		9,661		292

Standardized measure of discounted future net cash flows

The standardized measure of discounted future net cash flows is presented as follows (in thousands):

	Years Ended December 31,
	2013			2012			2011
Future gross revenues	$	64,495		$	59,793		$	73,626
Future costs -
Lease operating expenses		(19,207	)		(16,357	)		(19,788	)
Development costs		(119	)		(299	)		(2,198	)
Future net cash flows before income taxes		45,169			43,137			51,640
Discount at 10% per annum		(17,729	)		(17,976	)		(19,439	)
Discounted future net cash flows
before income taxes		27,440			25,161			32,201
Future income taxes, net of discount at
10% per annum		(9,604	)		(8,806	)		(11,270	)
Standardized measure of discounted
future net cash flows	$	17,836		$	16,355		$	20,931

Effect of income taxes and discounting on the standardized measure of discounted future net cash flows

  The effect of income taxes and discounting on the standardized measure of discounted future net cash flows is presented as follows (in thousands):

	Years ended December 31,
	2013			2012			2011
Future net cash flows before income taxes	$	45,169		$	43,137		$	51,640
Future income taxes		(15,809	)		(15,098	)		(18,074	)
Future net cash flows		29,360			28,039			33,566
Discount at 10% per annum		(11,524	)		(11,684	)		(12,635	)
Standardized measure of discounted
future net cash flows	$	17,836		$	16,355		$	20,931

Principal sources of changes in the standardized measure of discounted future net flows

The principal sources of changes in the standardized measure of discounted future net flows are as follows (in thousands):

	Years Ended December 31,
	2013			2012			2011
Beginning of year	$	16,355		$	20,931		$	16,672
Sale of oil and gas reserves		-			(3,802	)		(7,429	)
Net change in prices and production costs		9,341			(5,313	)		791
New field discoveries and extensions, net of future
production costs		9,767			9,513			18,769
Sales of oil and gas produced, net of production costs		(8,373	)		(8,953	)		(7,723	)
Net change due to revisions in quantity estimates		(3,624	)		(940	)		(1,739	)
Accretion of discount		1,797			1,944			1,678
Production rate changes and other		(6,629	)		511			2,204
Net change in income taxes		(798	)		2,464			(2,292	)
End of year	$	17,836		$	16,355		$	20,931

Results of operations for oil and gas producing activities

The results of oil and gas producing activities, excluding corporate overhead and interest costs, are as follows (in thousands):

	Years Ended December 31,
	2013			2012			2011
Revenues	$	14,129		$	15,954		$	14,060
Costs and expenses -
Production		(5,756	)		(7,091	)		(6,337	)
Producing property impairment		(1,373	)		(4,699	)		(7,105	)
Exploration		(1,619	)		(1,151	)		(9,166	)
Oil and natural gas property sale gain		-			2,203			2,923
Depreciation, depletion and amortization		(7,494	)		(8,848	)		(8,249	)
Operating income (loss) before income taxes		(2,113	)		(3,632	)		(13,874	)
Income tax (expense) benefit		739			1,271			4,854
Operating income (loss)	$	(1,374	)	$	(2,361	)	$	(9,020	)