XML 35 R19.htm IDEA: XBRL DOCUMENT v3.3.1.900
Equity Investment in Sunrise Energy
 12 Months Ended
Dec. 31, 2015
Sunrise Energy [Member]  
Equity Investment

(13)  Equity 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 oil, gas and 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 December 31, for two years and a condensed statement of operations for three years.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Balance Sheet

 

 

2015

 

 

2014

 

Current assets

 

$

 2,217 

 

 

$

 3,580 

 

Oil and gas properties, net

 

 

 7,981 

 

 

 

 7,130 

 

 

 

$

 10,198 

 

 

$

 10,710 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

$

 716 

 

 

$

 1,080 

 

Members’ capital

 

 

 9,482 

 

 

 

 9,630 

 

 

 

$

 10,198 

 

 

$

 10,710 

 

 

 

 

 

 

 

 

 

 

 

Condensed Statement of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

2014

 

 

2013

 

Revenue

$

 2,284

 

 

$

 3,203

 

 

$

 3,399

 

Expenses

 

 (2,432

)

 

 

 (2,707

)

 

 

 (2,141

)

Net income (loss)

$

 (148

)

 

$

 496

 

 

$

 1,258