Transactions with Affiliates

12 Months Ended

Dec. 31, 2015

Transactions with Affiliates [Abstract]

Transactions with Affiliates

(5)  Transactions with Affiliates

The late Mr. K. S. Adams, Jr., former Chairman of the Board and certain of his family partnerships and affiliates have participated as working interest owners with Adams Resources Exploration Corporation (‟AREC”).  Mr. Adams and the affiliates participated on terms similar to those afforded other non-affiliated working interest owners.  While the affiliates have generally maintained their existing property interest, they have not participated in any such transactions originating after the death of Mr. Adams in October 2013.  In connection with the operation of certain of these oil and gas properties, the Company charges such related parties for administrative overhead as prescribed by the Council of Petroleum Accountants Society Bulletin 5. The Company also enters into certain transactions in the normal course of business with other affiliated entities including direct cost reimbursement for shared phone and administrative services.  In addition the Company leases its corporate office space from an affiliated entity based on a lease rental rate determined by an independent appraisal.

Activities with affiliates were as follows (in thousands):

	2015		2014		2013
Overhead recoveries	$	97	$	151	$	152
Affiliate billings to Company	$	68	$	65	$	69
Company billings to affiliate	$	35	$	42	$	99
Rentals paid to affiliate	$	618	$	607	$	481

Additionally, in 2014, the Company engaged a professional services firm controlled by Townes Pressler, a member of the Company’s Board of Directors, to conduct a crude oil supply availability study.  Total study costs, all of which occurred in 2014 were $70,420.