Transactions with Affiliates

12 Months Ended

Dec. 31, 2017

We enter into certain transactions in the normal course of business with affiliated entities including direct cost reimbursement for shared phone and administrative services. In addition, we lease our corporate office space from an affiliated entity.

We utilize our former affiliate, Bencap, to administer certain of our employee medical benefit programs including a detail audit of individual medical claims (see Note 13 for further information). Bencap earns a fee from us for providing such services at a discounted amount from its standard charge to non-affiliates. As discussed in Note 7, at December 31, 2017, we have no further ownership interest in Bencap.

Activities with affiliates were as follows for the periods indicated (in thousands):



	Year Ended December 31,
	2017		2016		2015

Overhead recoveries ⁽¹⁾	$	—	$	32	$	97
Affiliate billings to us	81		65		68
Billings to affiliates	4		5		35
Rentals paid to affiliate	583		628		618
Fee paid to Bencap ⁽²⁾	108		583		—

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(1)	In connection with the operation of certain crude oil and natural gas properties, we charged related parties for administrative overhead. In late 2016, these charges ended as properties were either plugged and abandoned or operating responsibilities for these properties were transferred to another entity.


(2)	Amount represents fees paid to Bencap through the forfeiture of our investment during the first quarter of 2017. As a result of the investment forfeiture, Bencap is no longer an affiliate.

DIP Financing

In connection with its voluntary bankruptcy filing, AREC entered into the DIP Credit Agreement with AE, of which amounts outstanding were repaid during the third quarter of 2017 with proceeds from the sales of AREC’s assets. We earned interest income of approximately $0.1 million under the DIP Credit Agreement through December 31, 2017 (see Note 3 for further information).