Supplementary Financial Information on Oil and Natural Gas Exploration, Development and Production Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Extractive Industries [Abstract]

Supplementary result of oil and gas operations

The Company currently has no operations in foreign jurisdictions. Results of operations from oil and natural gas producing activities are summarized below for the years ended December 31:

	Years Ended December 31,
	2015			2014
Revenues	$	650,648		$	695,318
Costs incurred:
Exploration and dry hole costs	2,513			56,351
Lease operating costs and production taxes	192,504			225,074
Impairment of oil and natural gas reserves	867,048			3,721,042
Depletion, depreciation and accretion	637,121			430,912
Totals, costs incurred	1,699,186			4,433,379
Pre-tax (loss) from producing activities	(1,048,538		)	(3,738,061		)
Results (loss) from of oil and natural gas producing activities (excluding overhead, income taxes, and interest costs)	$	(1,048,538	)	$	(3,738,061	)

Supplementary schedule of oil and gas properties

Costs incurred in oil and natural gas property acquisition, exploration and development activities are summarized below for the years ended December 31:

	Years Ended December 31,
	2015		2014
Property acquisition and developmental costs:
Development	$	1,058,704	$	841,270
Property Acquisition	—		3,214,872
Undrilled Leaseholds	—		22,577
Asset retirement obligations	2,506		3,721
Totals costs incurred	$	1,061,210	$	4,082,440

Supplementary schedule of oil and gas reserves

The Company’s proved oil and natural gas reserves for the years ended December 31, 2015 and December 31, 2014 are shown below:

	Years Ended December 31,
Volumes	2015		2014
Natural gas:	(Mcfs)
Proved developed and undeveloped reserves (mcf):
Beginning of year	600,000		723,190
Purchase (sale) of natural gas properties in place	—		(46,770	)
Discoveries and extensions	26,680		—
Revisions	(410,362	)	(30,843	)
Production	(37,568	)	(45,577	)
Proved reserves, at end of year (a)	178,750		600,000

	Years Ended December 31,
	2015		2014
Oil:	(Bbls)
Proved developed and undeveloped reserves:
Beginning of year	20,700		49,020
Purchase (sale) of oil producing properties in place	—		(26,290	)
Discoveries and extensions	30,720		1,175
Revisions	2,112		3,700
Production	(12,152	)	(6,905	)
Proved reserves, at end of year (a)	41,380		20,700

(a) Includes 89,375 Mcf and 20,690 bbl and 300,000 Mcf and 10,350 bbl for the twelve months ended December 31, 2015 and 2014, respectively of proved reserves attributable to a consolidated subsidiary in which there is a 50% non-controlling interest.

	Years Ended December 31,
Values	2015			2014
Future cash inflows	$	2,345,940		$	4,920,190
Future costs:
Production	(964,520		)	(2,144,600		)
Development	(87,650		)	(87,650		)
Future cash flows	1,293,770			2,687,940
10% annual discount for estimated timing of cash flow	(421,640		)	(1,223,370		)
Standardized measure of discounted cash flow (a)	$	872,130		$	1,464,570

(a) Includes $436,065 and $732,285 for the twelve months ended December 31, 2015 and 2014, respectively, of discounted cash flows attributable to a consolidated subsidiary in which there is a 50% non-controlling interest.

Supplementary schedule of change in measures

Changes in the standardized measure of future net cash flows relating to proved oil and natural gas reserves for the years ended December 31 is summarized below: 

	For the years ended December 31,
	2015			2014
Increase (decrease)
Sale of gas and oil, net of operating expenses	$	(458,144	)	$	(470,244	)
Discoveries, extensions and improved recovery, net of future production and development costs	—			—
Accretion of discount	146,500			242,210
Net increase (decrease)	$	(311,644	)	$	(228,034	)
Standardized measure of discounted future cash flows:
Beginning of the year	$	1,464,570		$	2,422,100
Before Income Taxes	$	872,130		$	1,464,570
Income Taxes	(287,358		)	(500,586		)
End of the year (a)	$	584,772		$	963,984

(a) Includes $292,386 and $481,992 for the twelve months ended December 31, 2015 and 2014, respectively of future net cash flows attributable to a consolidated subsidiary in which there is a 50% non-controlling interest.