Investment in Sunrise Energy

9 Months Ended

Sep. 30, 2015

Sunrise Energy [Member]

Investment

(4)Investment in Sunrise Energy

We own a 50% interest in Sunrise Energy, LLC, which owns gas reserves and gathering equipment with plans to develop and operate such reserves. Sunrise Energy also plans to develop and explore 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, and a condensed statement of operations for the nine months ended September 30, 2015 and 2014. 

Condensed Balance Sheet
	2015
Current assets	$	2,325
Oil and gas properties, net		8,131
	$	10,456
Total liabilities	$	777
Members’ capital		9,679
	$	10,456

Condensed Statement of Operations
	2015		2014
Revenue	$	1,773	$	2,328
Expenses		(1,725)		(1,945)
Net income	$	48	$	383