ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

ACCOUNTS RECEIVABLE

NOTE 4 — ACCOUNTS RECEIVABLE:

In our capacity as operator for our co-venturers, we incur drilling and other costs that we bill to the respective parties based on their working interests. We also receive payments for these billings and, in some cases, for billings in advance of incurring costs. Our accounts receivable are comprised of the following amounts:

	As of December 31,
	2014		2013
Other co-venturers		$16,291		$13,904
Trade		60,263		134,622
Unbilled accounts receivable		33,052		22,001
Other		10,753		1,444
Total accounts receivable		$120,359		$171,971