Investment in Sunrise Energy (Sunrise Energy [Member])

9 Months Ended

Sep. 30, 2014

Sunrise Energy [Member]

(4) Investment in Sunrise Energy

We own a 50% interest in Sunrise Energy, LLC, a private company engaged in the oil and gas business that develops and explores for coal-bed methane gas reserves on or near our underground coal reserves. They use the successful efforts method of accounting. We account for our interest using the equity method of accounting.

Below (in thousands) to the 100% is a condensed balance sheet at September 30, 2014, and a condensed statement of operations for the nine months ended September 30, 2014 and 2013.


Condensed Balance Sheet
	2014

Current assets	$	3,496
Oil and gas properties, net		6,745
	$	10,241

Total liabilities	$	724
Members' capital		9,517
	$	10,241

Condensed Statement of Operations
	2014		2013

Revenue	$	2,328	$	2,551
Expenses		(1,945)		(1,513)
Net income	$	383	$	1,038

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details