Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Deferred Taxes

An analysis of the Company’s deferred tax assets and liabilities follows (amounts in thousands):

	December 31,
	2018			2017
Net operating loss carryforwards	$	86,046		$	78,541
Percentage depletion carryforward	6,011			5,701
Interest expense carryforward	10,540			—
Contributions carryforward and other	194			192
Temporary differences:
Oil and gas properties	3,673			8,279
Asset retirement obligation	602			7,602
Derivatives	—			(107		)
Share-based compensation	1,403			1,269
Original issue discount on debt exchanges	9,815			14,429
Other	432			—
Valuation allowance	(118,716		)	(115,906		)
Deferred tax asset (liability)	$	—		$	—

Income Tax Reconciliation

Income tax expense (benefit) for each of the years ended December 31, 2018, 2017 and 2016 was different than the amount computed using the federal statutory rate (21%) for the following reasons (amounts in thousands):

	For the Year Ended December 31,
	2018			2017			2016
Amount computed using the statutory rate	$	(1,973	)	$	(2,655	)	$	(31,623	)
Increase (reduction) in taxes resulting from:
Impact of rate change on deferred tax	—			64,915			—
State & local taxes	(1,731		)	(368		)	(2,000		)
Percentage depletion carryforward	(256		)	(66		)	(163		)
Non-deductible stock option expense (1)	98			305			77
Share-based compensation (2)	—			64			707
Restructuring costs	1,528			—			—
Other	93			(21		)	1,415
Change in valuation allowance	2,393			(63,123		)	32,130
Income tax expense (benefit)	$	152		$	(949	)	$	543

(1) Relates to compensation expense related to Incentive Stock Options.

(2) Relates to the write-off of deferred tax assets associated with share-based compensation that will not be deductible for tax purposes.