Supplementary Oil and Gas Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Costs Incurred in Oil and Gas Property Acquisition

Costs incurred in oil and gas property acquisition, exploration and development activities and related depletion, depreciation, amortization and accretion (“DD&A”) per equivalent unit-of-production were as follows for the years ended December 31, 2013 and 2014:

	2013		2014
Acquisition costs:
Unproved properties	$	—	$	34,500
Proved properties		—		—
Exploration costs		—		—
Development costs		307,834		594,359
Revisions to asset retirement obligation		34,934		—
Total costs incurred	$	342,768	$	628,859
Depletion per BOE of production	$	19.01	$	22.24

Changes in Proved Reserves

The Company did not have any proved reserves prior to 2011. The following table sets forth information regarding the Company’s estimated total proved and oil and gas reserve quantities for the years ended December 31, 2013 and 2014:

	Oil (Bbl)			Gas (Mcf)			Equivalent (BOE)
Balance, December 31, 2012		331,672			529,239			419,879
Sale of oil and gas reserves in place		(4,080	)		—			(4,080	)
Revisions in previous estimates		(60,081	)		233,116			(18,229	)
Production		(20,517	)		(85,567	)		(37,778	)
Balance, December 31, 2013		246,994			676,788			359,792
Revisions in previous estimates		13,060			8,347			14,452
Production		(22,825	)		(70,195	)		(34,524	)
Balance, December 31, 2014		237,229			614,940			339,720
Proved reserves, December 31, 2013:
Proved developed		184,349			668,489			295,764
Proved undeveloped		62,645			8,299			64,028
Proved reserves, December 31, 2014:
Proved developed		230,530			614,940			333,020
Proved undeveloped		6,699						6,699

Standardized Measure of Discounted Future Net Cash Flows Related to Proved Oil and Gas Reserves

The following table presents the standardized measure of discounted future net cash flows related to proved oil and gas reserves as of December 31, 2013 and 2014:

	2013			2014
Future cash inflows	$	25,573,856		$	23,132,987
Future production costs		(10,493,071	)		(9,732,541	)
Future development costs		(880,486	)		(781,442	)
Future income taxes		(2,490,706	)		—
Future net cash flows		11,709,593			12,619,004
10% annual discount		(5,554,945	)		(5,476,544	)
Standardized measure of discounted future net cash flows	$	6,154,648		$	7,142,460

Changes in Standardized Measure of Discounted Future Net Cash Flows

A summary of changes in the standardized measure of discounted future net cash flows is as follows for the years ended December 31, 2013 and 2014:

	2013			2014
Standardized measure of discounted future net cash flows, beginning of year	$	7,033,189		$	6,154,647
Sales of oil and gas, net of production costs and taxes		(1,359,448	)		(1,190,850	)
Purchases of reserves in place		—			—
Sales of reserves in place		(160,748	)		—
Changes in development costs		(7,872	)		98,054
Revisions of previous estimates		(524,565	)		213,112
Changes in prices and production costs		492,325			(341,335	)
Net changes in income taxes		(21,553	)		440,034
Accretion of discount		703,319			615,465
Standardized measure of discounted future net cash flows, end of year	$	6,154,647		$	5,989,127