Other Long-Term Liabilities and Deferred Credits

12 Months Ended

Dec. 31, 2015

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities and Deferred Credits

8. OTHER LONG-TERM LIABILITIES AND DEFERRED CREDITS

Other long-term liabilities and deferred credits on the balance sheet consisted of:

	December 31,
	2015		2014
Royalties payable(1)	$	500	$	500
UNC purchase contract(2)		300		—
Crownpoint property(1)		—		450
	$	800	$	950

(1)

Royalties payable and Crownpoint property liability were derived during prior years of production. Liabilities do not accrue interest or have a stated maturity date. Additionally, as the Company currently has entered into a binding letter of intent to sell the Crownpoint property, the $450,000 liability has been included in liabilities held for sale as of December 31, 2015.

(2)

On November 5, 2015, the Company and UNC agreed to amend the terms of the Data Purchase Agreement. As a result, the $0.4 million payment due on August 18, 2015 under the original agreement has been extended and is payable in quarterly installments, bearing interest of 5% per annum, over a period of four years beginning on January 1, 2016. The Company has classified $0.1 million as short-liabilities and the remaining $0.3 million as a long-term liability.