U.S. Energy (USEG) 10-Q 8 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 07, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'US ENERGY CORP	'
Entity Central Index Key	'0000101594	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	27,682,602
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$5,538	$2,825
Available for sale securities	75	183
Accounts receivable trade	5,792	5,182
Commodity risk management asset	62	472
Assets held for sale	0	17,051
Other current assets	453	302
Total current assets	11,920	26,015
Investment	2,224	2,264
Properties and equipment	'	'
Oil & gas properties under full cost method, net of $53,333 and $43,454 accumulated depletion, depreciation and amortization	84,513	85,634
Undeveloped mining claims	20,739	20,739
Property, plant and equipment, net	4,226	4,435
Net properties and equipment	109,478	110,808
Other assets	1,734	1,740
Total assets	125,356	140,827
Current liabilities:	'	'
Accounts payable	5,416	2,692
Accrued compensation	482	295
Commodity risk management liability	647	0
Current portion of debt	200	200
Liabilities held for sale	0	10,022
Other current liabilities	69	44
Total current liabilities	6,814	13,253
Long-term debt, net of current portion	7,000	10,000
Asset retirement obligations	775	686
Other accrued liabilities	746	771
Commitment and contingencies	'	'
Shareholders' equity	'	'
Common stock, $.01 par value; unlimited shares authorized; 27,682,602 and 27,652,602 shares issued, respectively	277	277
Additional paid-in capital	123,249	123,078
Accumulated deficit	-13,498	-7,339
Other comprehensive (loss) income	-7	101
Total shareholders' equity	110,021	116,117
Total liabilities and shareholders' equity	$125,356	$140,827

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
Properties and equipment	'	'
Oil & gas properties under full cost method, accumulated depletion, depreciation and amortization	$53,333	$43,454
Shareholders' equity	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares issued (in shares)	27,682,602	27,652,602

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Operating revenues:	'	'	'	'
Oil, gas, and NGL production revenues:	$8,582	$7,639	$24,376	$24,496
Operating expenses:	'	'	'	'
Oil and gas	2,877	2,514	8,241	7,965
Oil and gas depreciation, depletion and amortization	3,205	3,410	9,879	11,081
Impairment of oil and gas properties	0	0	5,828	523
Water treatment plant	394	609	1,214	1,554
Mineral holding costs	410	400	934	716
General and administrative	1,337	1,659	3,963	5,313
Impairment of corporate aircraft	0	1,756	0	1,756
Total operating expenses	8,223	10,348	30,059	28,908
Income (loss) from operations	359	-2,709	-5,683	-4,412
Other income and expenses:	'	'	'	'
Realized (loss) gain on risk management activities	-307	12	-274	-137
Unrealized (loss) gain on risk management activities	-768	-478	-1,056	1,233
Gain (loss) on the sale of assets	19	-21	729	-11
Equity gain (loss) in unconsolidated investment	11	-17	-40	-168
Gain on sale of marketable securities	0	28	0	82
Miscellaneous income	50	81	80	169
Interest income	1	2	4	8
Interest expense	-71	-53	-229	-128
Total other income and (expenses)	-1,065	-446	-786	1,048
Loss before income taxes and discontinued operations	-706	-3,155	-6,469	-3,364
Income taxes:	'	'	'	'
Current (provision for)	0	0	0	-104
Deferred benefit from	0	1,285	0	1,398
Total income taxes	0	1,285	0	1,294
Loss from continuing operations	-706	-1,870	-6,469	-2,070
Discontinued operations:	'	'	'	'
Discontinued operations, net of taxes	-8	-75	430	15
Loss on sale of discontinued operations, net of taxes	-120	0	-120	0
Impairment on discontinued operations, net of taxes	0	0	0	-1,261
Total discontinued operations	-128	-75	310	-1,246
Net loss	($834)	($1,945)	($6,159)	($3,316)
Net income (loss) per share basic and diluted	'	'	'	'
Loss from continuing operations (in dollars per share)	($0.03)	($0.07)	($0.23)	($0.08)
Income (loss) from discontinued operations (in dollars per share)	$0	$0	$0.01	($0.04)
Net (loss) per share (in dollars per share)	($0.03)	($0.07)	($0.22)	($0.12)
Weighted average shares outstanding	'	'	'	'
Basic and Diluted (in shares)	27,682,602	27,468,355	27,677,382	27,458,249

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]	'	'	'	'
Net (loss)	($834)	($1,945)	($6,159)	($3,316)
Other comprehensive (loss) income:	'	'	'	'
Marketable securities, net of tax	-8	-60	-108	3
Total comprehensive (loss)	($842)	($2,005)	($6,267)	($3,313)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net loss	($6,159)	($3,316)
Loss (gain) from discontinued operations	-310	1,246
Loss from continuing operations	-6,469	-2,070
Adjustments to reconcile net loss to net cash provided by operations	'	'
Depreciation, depletion & amortization	10,086	11,542
Change in fair value of commodity price risk management activities, net	1,056	-1,233
Impairment of oil and gas properties	5,828	523
Impairment of corporate aircraft	0	1,756
(Gain) on sale of marketable securities	0	-82
Equity loss from Standard Steam	40	168
Net change in deferred income taxes	0	-1,196
(Gain) loss on sale of assets	-729	11
Noncash compensation	352	412
Noncash services	48	53
Net changes in assets and liabilities	160	702
Net cash provided by operating activities	10,372	10,586
Cash flows from investing activities:	'	'
Acquisition and development of oil & gas properties	-12,614	-37,685
Acquisition of property and equipment	0	-101
Proceeds from sale of assets held for sale	14,655	0
Proceeds from sale of oil and gas properties	0	21,475
Proceeds from sale of marketable securities	0	101
Proceeds from sale of property and equipment	2,596	76
Net change in restricted investments	6	-99
Net cash provided by (used in) investing activities:	4,643	-16,233
Cash flows from financing activities:	'	'
Issuance of common stock	0	50
Proceeds from new debt	0	8,000
Repayments of debt	-12,621	-12,203
Net cash (used in) financing activities	-12,621	-4,153
Net cash provided by operating activities of discontinued operations	319	649
Net increase (decrease) in cash and cash equivalents	2,713	-9,151
Cash and cash equivalents at beginning of period	2,825	12,874
Cash and cash equivalents at end of period	5,538	3,723
Supplemental disclosures:	'	'
Interest paid	221	110
Non-cash investing and financing activities:	'	'
Unrealized gain from available for sale securities	7	81
Acquisition and development of oil and gas properties through accounts payable	1,910	4,679
Acquisition and development of oil and gas properties through asset retirement obligations	$61	$133

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Basis of Presentation [Abstract]	'
Basis of Presentation	'
	1)       Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements for the periods ended September 30, 2013 and September 30, 2012 have been prepared by U.S. Energy Corp. (“we,” “us,” “U.S. Energy” or the “Company”) in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).  The financial statements at September 30, 2013 include the Company’s wholly owned subsidiary Energy One LLC (“Energy One”), which owns the majority of the Company’s oil and gas assets.  The Condensed Consolidated Balance Sheet at December 31, 2012 was derived from audited financial statements.  In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position of the Company for the reported periods.  Entities in which the Company holds at least 20% ownership or in which there are other indicators of significant influence are accounted for by the equity method, whereby the Company records its proportionate share of the entities’ results of operations.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted and certain prior period amounts have been reclassified to conform to the current period presentation.  The unaudited condensed consolidated financial statements should be read in conjunction with the Company's December 31, 2012 Annual Report on Form 10-K (the “2012 10-K”).  Subsequent events have been evaluated for financial reporting purposes through the date of the filing of this Form 10-Q.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2)       Summary of Significant Accounting Policies
	We follow accounting standards set by the Financial Accounting Standards Board, commonly referred to as the “FASB.”  The FASB sets generally accepted accounting principles (U.S. GAAP) that we follow to ensure we consistently report our financial condition, results of operations, and cash flows.
	For detailed descriptions of our significant accounting policies, please see the 2012 10-K (Note B pages 92 to 100).
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Significant estimates include oil and gas reserves used for depletion and impairment considerations and the cost of future asset retirement obligations.  Due to inherent uncertainties, including the future prices of oil and gas, these estimates could change in the near term and such changes could be material.
	Properties and Equipment
	Land, buildings, improvements, machinery and equipment are carried at cost.  Depreciation of buildings, improvements, machinery and equipment is provided principally by the straight-line method over estimated useful lives ranging from 3 to 45 years.
	Components of Property and Equipment as of September 30, 2013 and December 31, 2012 are as follows:
		(In thousands)
		September 30,			December 31,
		2013			2012
	Oil & Gas properties
	Unproved	$	9,687		$	9,169
	Wells in progress		777			--
	Proved		127,382			119,919
			137,846			129,088
	Less accumulated depreciation
	depletion and amortization		(53,333	)		(43,454	)
	Net book value		84,513			85,634
	Mineral properties		20,739			20,739
	Building, land and equipment		8,410			8,469
	Less accumulated depreciation		(4,184	)		(4,034	)
	Net book value		4,226			4,435
	Totals	$	109,478		$	110,808
	Oil and Gas Properties
	The Company follows the full cost method in accounting for its oil and gas properties.  Under the full cost method, all costs associated with the acquisition, exploration and development of oil and gas properties are capitalized and accumulated in a country-wide cost center.  This includes any internal costs that are directly related to development and exploration activities, but does not include any costs related to production, general corporate overhead or similar activities.  Proceeds received from property disposals are credited against accumulated cost except when the sale represents a significant disposal of reserves, in which case a gain or loss is recognized.  The sum of net capitalized costs and estimated future development and dismantlement costs for each cost center is depleted on the equivalent unit-of-production method, based on proved oil and gas reserves.  Excluded from amounts subject to depletion are costs associated with unproved properties.
	Full Cost Pool - Full cost pool capitalized costs are amortized over the life of production of proven properties.  Capitalized costs at September 30, 2013 and December 31, 2012 which were not included in the amortized cost pool were $10.5 million and $9.2 million, respectively.  These costs consist of exploratory wells in progress, seismic costs that are being analyzed for potential drilling locations as well as land costs related to unevaluated properties.  No capitalized costs related to unevaluated properties are included in the amortization base at September 30, 2013 and December 31, 2012.  It is anticipated that these costs will be added to the full cost amortization pool in the next two years as properties are proved, drilled or abandoned.
	Ceiling Test Analysis - Under the full cost method, net capitalized costs are limited to the lower of unamortized cost reduced by the related net deferred tax liability and asset retirement obligations or the cost center ceiling.  The cost center ceiling is defined as the sum of (i) estimated future net revenue, discounted at 10% per annum, from proved reserves, based on unescalated average prices per barrel of oil and per MMbtu of natural gas at the first day of each month in the 12-month period prior to the end of the reporting period and costs, adjusted for contract provisions and financial derivatives that hedge our oil and gas revenue and asset retirement obligations, (ii) the cost of properties not being amortized, and (iii) the lower of cost or market value of unproved properties included in the cost being amortized, reduced by (iv) the income tax effects related to differences between the book and tax basis of the crude oil and natural gas properties. If the net book value reduced by the related net deferred income tax liability and asset retirement obligations exceeds the cost center ceiling limitation, a non-cash impairment charge is required in the period in which the impairment occurs.
	We perform a quarterly ceiling test for each of our oil and gas cost centers.  There is only one such cost center in 2013.  The reserves used in the ceiling test and the ceiling test itself incorporate assumptions regarding pricing and discount rates over which management has no influence in the determination of present value.  In arriving at the ceiling test for the quarter ended September 30, 2013, we used $95.04 per barrel for oil and $3.612 per MMbtu for natural gas (and adjusted for property specific gravity, quality, local markets and distance from markets) to compute the future cash flows of our producing properties.  The discount factor used was 10%.
	During the three and nine months ended September 30, 2013, the Company recorded a proved property impairment of $0 and $5.8 million, respectively, related to its oil and gas assets.  The impairment recorded for the nine months ended September 30, 2013 was primarily due to a decline in the price of oil, additional capitalized well costs and changes in production.  During the nine months ended September 30, 2012, the Company recorded a proved property impairment of $523,000, primarily due to a decline in natural gas prices.  Management will continue to review our unproved properties based on market conditions and other changes and, if appropriate, unproved property amounts may be reclassified to the amortized base of properties within the full cost pool.
	Wells in Progress - Wells in progress represent the costs associated with unproved wells that have not reached total depth or have not been completed as of period end.  They are classified as wells in progress and withheld from the depletion calculation.  The costs for these wells are then transferred to evaluated property when the wells reach total depth and are completed and the costs become subject to depletion and the ceiling test calculation in future periods.
	Mineral Properties
	We capitalize all costs incidental to the acquisition of mineral properties.  Mineral exploration costs are expensed as incurred.  When exploration work indicates that a mineral property can be economically developed as a result of establishing proved and probable reserves, costs for the development of the mineral property as well as capital purchases and capital construction are capitalized and amortized using units of production over the estimated recoverable proved and probable reserves. Costs and expenses related to general corporate overhead are expensed as incurred. All capitalized costs are charged to operations if we subsequently determine that the property is not economical due to permanent decreases in market prices of commodities, excessive production costs or depletion of the mineral resource. Mineral properties at September 30, 2013 and December 31, 2012 reflect capitalized costs associated with our Mt. Emmons molybdenum property near Crested Butte, Colorado.
	Our carrying balance in the Mt. Emmons property at September 30, 2013 and December 31, 2012 is as follows:
		(In thousands)
		September 30,			December 31,
		2013			2012
	Costs associated with Mount Emmons beginning of year	$	20,739		$	20,739
	Development costs		--			--
	Costs at the end of the period	$	20,739		$	20,739
	Derivative Instruments
	The Company uses derivative instruments, typically fixed-rate swaps and costless collars, to manage price risk underlying its oil and gas production.  All derivative instruments are recorded in the consolidated balance sheets at fair value. The Company offsets fair value amounts recognized for derivative instruments executed with the same counterparty. Although the Company does not designate any of its derivative instruments as cash flow hedges, such derivative instruments provide an economic hedge of our exposure to commodity price risk associated with forecasted future oil and gas production. These contracts are accounted for using the mark-to-market accounting method and accordingly, the Company recognizes all unrealized and realized gains and losses related to these contracts currently in earnings and classifies them as gain (loss) on derivative instruments, net in our consolidated statements of operations. The Company may also use puts, calls and basis swaps in the future.
	The Company’s Board of Directors sets all risk management policies and reviews the status and results of derivative activities, including volumes, types of instruments and counterparties on a quarterly basis. These policies require that derivative instruments be executed only by the Chief Executive Officer or President. The agreements with approved counterparties identify the Chief Executive Officer and President as the only Company representatives authorized to execute trades. See Note 5, Commodity Price Risk Management, for further discussion.
	Revenue Recognition
	The Company records oil and natural gas revenue under the sales method of accounting. Under the sales method, we recognize revenues based on the amount of oil or natural gas sold to purchasers, which may differ from the amounts to which we are entitled based on our interest in the properties. Natural gas balancing obligations as of September 30, 2013 were not significant.
	Revenues from real estate operations are reported on a gross revenue basis and are recorded at the time the service is provided.
	Recent Accounting Pronouncements
	On January 1, 2013, the Company adopted new authoritative accounting guidance issued by the Financial Accounting Standards Board (“FASB”), which enhanced disclosures by requiring an entity to disclose information about netting arrangements, including rights of offset, to enable users of its financial statements to understand the effect of those arrangements on its financial position and provided clarification as to the specific instruments that should be considered in these disclosures. These pronouncements were issued to facilitate comparison between financial statements prepared on the basis of GAAP and International Financial Reporting Standards. These disclosures are effective for annual and interim reporting periods beginning on or after January 1, 2013, and are to be applied retrospectively for all comparative periods presented. The impact of retrospectively adopting these pronouncements did not have a material impact on the Company’s consolidated financial statements but did impact the Company's disclosures.
	In July 2013 the FASB issued new authoritative accounting guidance related to the reporting of unrecognized tax benefits when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists.  This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2013.  The company is currently evaluating the provisions of this guidance and assessing its impact on the Company's financial statements and disclosures, but does not believe its financial statements will be significantly impacted.
	The Company has reviewed other current outstanding statements from the FASB and does not believe that any of those statements will have a material adverse effect on the financial statements of the Company when adopted.

Assets_Held_for_Sale

Assets Held for Sale	9 Months Ended
	Sep. 30, 2013
Assets Held for Sale [Abstract]	'
Assets Held for Sale	'
	3)       Assets Held for Sale
	The Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 presented approximately $17.1 million in book value of assets held for sale, consisting of $15.2 million related to Remington Village and $1.9 million related to the corporate aircraft and related facilities.  These assets were sold during the nine months ended September 30, 2013.
	Remington Village Sale
	On September 11, 2013, the Company, through its wholly owned subsidiary Remington Village LLC, completed the sale of the Remington Village Apartment Complex in Gillette Wyoming (“Remington Village”) to an affiliate of the Miller Frishman Group, LLC for $15.0 million.  The $9.5 million balance on the commercial note relating to Remington Village was paid in full at closing.  After deduction of payment of the note, commission and other closing costs, the net proceeds to the Company were approximately $5.0 million. Upon closing this transaction, the assets and liabilities held for sale were reduced to $0 and we recorded a loss on the sale of discontinued of operations of $120,000.
	Because Remington Village has been classified as an asset held for sale, scheduled depreciation of $660,000 for the first nine months of 2013 and $560,000 for the first nine months of 2012 was not recorded.
	Corporate Aircraft and Related Facilities Sale
	On January 10, 2013, the Company sold the corporate aircraft for $1.9 million and the related facilities for $767,000.

Asset_Retirement_Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligations [Abstract]	'
Asset Retirement Obligations	'
	4)       Asset Retirement Obligations
	We record the fair value of the reclamation liability for our inactive mining properties and our operating oil and gas properties as of the date that the liability is incurred.  We review the liability each quarter and determine if a change in estimate is required, and we accrete the discounted liability on a quarterly basis for the future liability.  Final determinations are made during the fourth quarter of each year.  We deduct any actual funds expended for reclamation during the quarter in which it occurs.
	The following is a reconciliation of the total liability for asset retirement obligations:
		(In thousands)
		September 30,		December 31,
		2013		2012
	Beginning asset retirement obligation	$	686	$	510
	Accretion of discount		28		34
	Liabilities incurred		61		142
	Ending asset retirement obligation	$	775	$	686
	Mineral properties	$	171	$	162
	Oil & Gas wells		604		524
	Ending asset retirement obligation	$	775	$	686

Commodity_Price_Risk_Managemen

Commodity Price Risk Management	9 Months Ended
	Sep. 30, 2013
Commodity Price Risk Management [Abstract]	'
Commodity Price Risk Management	'
	5)       Commodity Price Risk Management
	Through our wholly-owned subsidiary Energy One, we have entered into commodity derivative contracts (“economic hedges”) with BNP Paribas (“BNP”) and Wells Fargo, as described below.  The derivative contracts are priced using West Texas Intermediate (“WTI”) quoted prices.  The Company is a guarantor of Energy One’s obligations under the economic hedges.  The objective of utilizing the economic hedges is to reduce the effect of price changes on a portion of our future oil production, achieve more predictable cash flows in an environment of volatile oil and gas prices and to manage our exposure to commodity price risk. The use of these derivative instruments limits the downside risk of adverse price movements.  However, there is a risk that such use may limit our ability to benefit from favorable price movements. Energy One may, from time to time, add incremental derivatives to hedge additional production, restructure existing derivative contracts or enter into new transactions to modify the terms of current contracts in order to realize the current value of its existing positions. The Company does not engage in speculative derivative activities or derivative trading activities, nor does it use derivatives with leveraged features.
	Energy One's commodity derivative contracts as of September 30, 2013 are summarized below:
					Quantity
	Settlement Period	Counterparty	Basis		(Bbls/day)			Strike Price
	Crude Oil Costless Collar
	10/01/12 - 09/30/13	BNP Paribas	WTI			200		Put:		$	95
								Call:		$	116.6
	Crude Oil Costless Collar
	07/01/13 - 09/30/13	Wells Fargo	WTI			400		Put:		$	90
								Call:		$	97.5
	Crude Oil Costless Collar
	10/01/13 - 12/31/13	Wells Fargo	WTI			600		Put:		$	90
								Call:		$	97.5
	Crude Oil Costless Collar
	01/01/14 - 06/30/14	Wells Fargo	WTI			300		Put:		$	90
								Call:		$	95
	Crude Oil Costless Collar
	01/01/14 - 06/30/14	Wells Fargo	WTI			300		Put:		$	90
								Call:		$	97.25
	Crude Oil Costless Collar
	07/01/14 - 12/31/14	Wells Fargo	WTI			300		Put:		$	90
								Call:		$	98.4
	The following table details the fair value of the derivatives recorded in the applicable condensed consolidated balance sheet, by category:
		As of September 30, 2013
		(in thousands)
		Derivative Assets					Derivative Liabilities
		Balance Sheet		Fair			Balance Sheet		Fair
		Classification		Value			Classification		Value
	Crude oil costless collars	Current Asset		$	62		Current Liability		$	647
	Unrealized gains and losses resulting from derivatives are recorded at fair value on the condensed consolidated balance sheet and changes in fair value are recognized in the unrealized gain (loss) on risk management activities line on the condensed consolidated statement of operations. Realized gains and losses resulting from the contract settlement of derivatives are recorded in the commodity price risk management activities line on the condensed consolidated statement of income.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements [Abstract]	'
Fair Value Measurements	'
	6)       Fair Value Measurements
	We follow authoritative guidance regarding fair value measurements for all assets and liabilities measured at fair value.  That guidance establishes a fair value hierarchy that prioritizes the inputs the Company uses to measure fair value based on the significance level of the following inputs:
	·	Level 1 - Quoted prices (unadjusted) for identical assets or liabilities in active markets.
	·	Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and model-derived valuations whose inputs or significant value drivers are observable.
	·	Level 3 - Significant inputs to the valuation model are unobservable.
	Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the nonfinancial assets and liabilities and their placement in the fair value hierarchy levels.  As of September 30, 2013, we held $75,000 of investments in marketable securities.  We determine our estimate of the fair value of derivative instruments using a market approach based on several factors, including quoted prices in active markets, and quotes from third parties.
	The following table is a listing of the Company's assets and liabilities that are measured at fair value and their classification within the fair value hierarchy as of September 30, 2013.
			(In thousands)
					Fair Value Measurements at September 30, 2013 Using
			September 30,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Description		2013		(Level 1)		(Level 2)		(Level 3)
	Commodity risk management assets		$	62	$	--	$	62	$	--
	Available for sale securities			75		75		--		--
	Total assets		$	137	$	75	$	62	$	--
	Commodity risk management liability		$	647	$	--	$	647	$	--
	Other accrued liabilities 1			746		--		--		746
	Total liabilities		$	1,393	$	--	$	647	$	746
	1 Other accrued liabilities is the company's liability for the executive retirement program
	Our other financial instruments include cash and cash equivalents, accounts receivable, accounts payable, other current liabilities and long-term debt.  The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and other current liabilities approximate fair value because of their immediate or short-term maturities.  The carrying value of our debt approximates its fair market value since interest rates have remained generally unchanged from the issuance of the debt.  The fair value and carrying value of our debt was $7.2 million as of September 30, 2013.

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt [Abstract]	'
Debt	'
	7)       Debt
	At September 30, 2013, total debt in the amount of $7.2 million consists of $7.0 million in debt from our reserve based senior credit facility and $200,000 in debt related to the purchase of land near our Mt. Emmons molybdenum property.
	Revolving Credit Facility
	On July 23, 2013, we entered into a second amendment (the "Second Amendment") to the senior secured revolving credit facility, dated July 30, 2010, as amended (the "Senior Credit Agreement"), among Energy One LLC, the Company, as guarantor party thereto, the lender parties thereto and Wells Fargo Bank, National Association.  The Second Amendment provides for, among other things: (i) an extension of the maturity date of borrowings under the Senior Credit Agreement to July 30, 2017; (ii) a decrease in the applicable margin rate to between 2.00% and 3.00% for Eurdollar Loans and to between 1.00% and 2.00% for Alternate Base Rate Loans; (iii) a revision to the hedging covenant to permit the Company to hedge, for calendar year 2014 only, the greater of 600 barrels per day or 85% of the reasonably anticipated projected production, provided that in no event will any such hedge volumes for any calendar month during calendar year 2014 exceed actual production from the immediately preceding calendar month; and (iv) a $25 million borrowing base, subject to further adjustment from time to time in accordance with the Senior Credit Agreement.
	The foregoing description of the Second Amendment is a summary only and is qualified in its entirety by reference to the Second Amendment, which was filed as Exhibit 10.1 to the Form 8-K filed on July 25, 2013.
	As of September 30, 2013, we have borrowed $7.0 million under the Senior Credit Agreement to fund our oil and gas programs.  Each borrowing under the agreement has a term of six months, but can be continued at our election through July 2017 if we remain in compliance with the covenants under the facility.  Our intent is to extend this debt and therefore we have classified it as a long-term liability.  The current weighted average interest rate on this debt is 2.44%.  As of September 30, 2013, Energy One was in compliance with all the covenants under the Senior Credit Agreement.
	Land Debt
	The land debt of $200,000 bears an interest rate of 6.0% per annum and is due on January 2, 2014.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2013
Shareholders' Equity [Abstract]	'
Shareholders' Equity	'
	8)       Shareholders’ Equity
	Common Stock
	During the three and nine months ended September 30, 2013, the Company issued 0 shares and 30,000 shares, respectively, of common stock to officers of the Company pursuant to the 2001 Stock Compensation Plan.
	The following table details the changes in common stock during the nine months ended September 30, 2013:
	(Amounts in thousands, except for share amounts)
							Additional
		Common Stock					Paid-In
		Shares			Amount		Capital
	Balance January 1, 2013		27,652,602		$	277	$	123,078
	2001 stock compensation plan		30,000			--		48
	Expense of employee options vesting		--			--		76
	Expense of outside director options vesting		--			--		47
	Balance September 30, 2013		27,682,602		$	277	$	123,249
	Stock Option Plans
	The following table represents the activity in employee stock options and non-employee director stock options for the nine months ended September 30, 2013:
		30-Sep-13
		Employee Stock Options					Director Stock Options
					Weighted					Weighted
					Average					Average
					Exercise					Exercise
		Options			Price		Options			Price
	Outstanding balance at December 31, 2012		2,259,282		$	3.8		150,000		$	3.05
	Granted		270,000		$	2.08		36,000		$	2.08
	Forfeited		--		$	--		--		$	--
	Expired		(28,333	)	$	4.68		(40,000	)	$	2.6
	Exercised		--		$	--		--		$	--
	Outstanding at September 30, 2013		2,500,949		$	3.6		146,000		$	2.93
	Exercisable at September 30, 2013		2,137,619		$	3.85		56,668		$	3.46
	Weighted Average Remaining Contractual Life - Years					4.26					8.35
	Aggregate intrinsic value of options outstanding				$	--				$	--
	Employee Stock Option Plans.  During the three and nine months ended September 30, 2013, we issued 270,000 options to employees under the U.S Energy Corp. 2012 Equity and Performance Incentive Plan.  The options were issued at the closing price of $2.08 on the date of grant, vest over a three year period and expire ten years from the date of grant.  These options were valued under the Black-Scholes pricing model using a risk free interest rate of 1.66%, expected life of six years and expected volatility of 62.5879%.  During the three and nine months ended September 30, 2013 we recorded $44,000 and $76,000, respectively, in compensation expense for employee stock options.  During the three and nine months ended September 30, 2012, we recorded $15,000 and $17,000, respectively, in compensation expense for employee stock options.  We will recognize an additional $414,000 in expense over the weighted average vesting period of 2.48 years related to the outstanding employee options.
	Director Option Plans.  During the three and nine months ended September 30, 2013, we issued 36,000 options to non-employee directors under the 2008 Stock Option Plan for Independent Directors.  The options were issued at the closing price of $2.08 on the date of grant, vest over a three year period and expire ten years from the date of grant.  These options were valued under the Black-Scholes pricing model using a risk free interest rate of 1.66%, expected life of six years and expected volatility of 62.5879%.  During the three and nine months ended September 30, 2013 we recorded $16,000 and $47,000, respectively, in expense for options issued to non-employee directors.  During the three and nine months ended September 30, 2012 we recorded $16,000 and $53,000, respectively, in expense for options issued to non-employee directors.  We will recognize an additional $107,000 in expense over the weighted average vesting period of 1.89 years related to the outstanding director options.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Taxes [Abstract]	'
Income Taxes	'
	9)       Income Taxes
	The Company uses the asset and liability method of accounting for deferred income taxes.  Deferred tax assets and liabilities are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities.  Deferred tax assets or liabilities at the end of each period are determined using the tax rate in effect at that time.
	The deferred income tax assets or liabilities for an oil and gas exploration company are dependent on many variables such as estimates of the economic lives of depleting oil and gas reserves and commodity prices.  Accordingly, the asset or liability is subject to continual recalculation, revision of the numerous estimates required, and may change significantly in the event of such things as major acquisitions, divestitures, product price changes, changes in reserve estimates, changes in reserve lives, and changes in tax rates or tax laws.
	The Company does not expect to pay any federal or state income tax for 2013 as a result of net operating loss carry forwards from prior years.  Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is “more likely than not” that some component or all of the benefits of deferred tax assets will not be realized. As of September 30, 2013, the Company maintains a full valuation allowance on its net deferred tax assets. Based on these requirements, no provision or benefit for income taxes has been recorded for deferred taxes. There were no recorded unrecognized tax benefits at the end of the reporting period.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2013
Segment Information [Abstract]	'
Segment Information	'
	10)       Segment Information
	As of September 30, 2013, we had two reportable segments: Oil and Gas and Maintenance of Mineral Properties.  A summary of results of operations for the three and nine months ended September 30, 2013, and 2012, and total assets as of September 30, 2013 and December 31, 2012 by segment are as follows:
		(In thousands)						(In thousands)
		For the three months ended September 30,						For the nine months ended September 30,
		2013			2012			2013			2012
	Revenues:
	Oil and gas	$	8,582		$	7,639		$	24,376		$	24,496
	Total revenues		8,582			7,639			24,376			24,496
	Operating expenses:
	Oil and gas		6,082			5,924			23,948			19,569
	Mineral properties		804			1,009			2,148			2,270
	Total operating expenses		6,886			6,933			26,096			21,839
	Interest expense:
	Oil and gas		65			45			213			103
	Mineral properties		3			6			9			18
	Total interest expense		68			51			222			121
	Operating income (loss)
	Oil and gas	$	2,435		$	1,670		$	215		$	4,824
	Mineral properties		(807	)		(1,015	)		(2,157	)		(2,288	)
	Operating income (loss)
	from identified segments		1,628			655			(1,942	)		2,536
	General and administrative expenses		(1,337	)		(3,415	)		(3,963	)		(7,069	)
	Add back interest expense		68			51			222			121
	Other revenues and expenses		(1,065	)		(446	)		(786	)		1,048
	Income (loss) before income taxes
	and discontinued operations	$	(706	)	$	(3,155	)	$	(6,469	)	$	(3,364	)
	Depreciation depletion and amortization expense:
	Oil and gas	$	3,205		$	3,410		$	9,879		$	11,081
	Mineral properties		31			31			95			95
	Corporate		36			121			112			366
	Total depreciation expense	$	3,272		$	3,562		$	10,086		$	11,542
		(In thousands)
		30-Sep			December 31,
		2013			2012
	Assets by segment
	Oil and gas	$	93,710		$	93,839
	Mineral		20,746			20,747
	Corporate		10,900			26,241
	Total assets	$	125,356		$	140,827

Equity_Income_in_Unconsolidate

Equity Income in Unconsolidated Investment	9 Months Ended
	Sep. 30, 2013
Equity Income in Unconsolidated Investment [Abstract]	'
Equity Income in Unconsolidated Investment	'
	11)       Equity Income in Unconsolidated Investment
	We recorded an equity gain from our unconsolidated investment in Standard Steam, LLC (“SST”) during the three months ended September 30, 2013, of $11,000 and an equity loss during the nine months ended September 30, 2013 of $40,000. During the three and nine months ended September 30, 2012, we recorded equity losses from our unconsolidated investment in SST of $17,000 and $168,000, respectively.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Significant estimates include oil and gas reserves used for depletion and impairment considerations and the cost of future asset retirement obligations.  Due to inherent uncertainties, including the future prices of oil and gas, these estimates could change in the near term and such changes could be material.
Properties and Equipment	'
	Properties and Equipment
	Land, buildings, improvements, machinery and equipment are carried at cost.  Depreciation of buildings, improvements, machinery and equipment is provided principally by the straight-line method over estimated useful lives ranging from 3 to 45 years.
	Components of Property and Equipment as of September 30, 2013 and December 31, 2012 are as follows:
		(In thousands)
		September 30,			December 31,
		2013			2012
	Oil & Gas properties
	Unproved	$	9,687		$	9,169
	Wells in progress		777			--
	Proved		127,382			119,919
			137,846			129,088
	Less accumulated depreciation
	depletion and amortization		(53,333	)		(43,454	)
	Net book value		84,513			85,634
	Mineral properties		20,739			20,739
	Building, land and equipment		8,410			8,469
	Less accumulated depreciation		(4,184	)		(4,034	)
	Net book value		4,226			4,435
	Totals	$	109,478		$	110,808
Oil and Gas Properties	'
	Oil and Gas Properties
	The Company follows the full cost method in accounting for its oil and gas properties.  Under the full cost method, all costs associated with the acquisition, exploration and development of oil and gas properties are capitalized and accumulated in a country-wide cost center.  This includes any internal costs that are directly related to development and exploration activities, but does not include any costs related to production, general corporate overhead or similar activities.  Proceeds received from property disposals are credited against accumulated cost except when the sale represents a significant disposal of reserves, in which case a gain or loss is recognized.  The sum of net capitalized costs and estimated future development and dismantlement costs for each cost center is depleted on the equivalent unit-of-production method, based on proved oil and gas reserves.  Excluded from amounts subject to depletion are costs associated with unproved properties.
	Full Cost Pool - Full cost pool capitalized costs are amortized over the life of production of proven properties.  Capitalized costs at September 30, 2013 and December 31, 2012 which were not included in the amortized cost pool were $10.5 million and $9.2 million, respectively.  These costs consist of exploratory wells in progress, seismic costs that are being analyzed for potential drilling locations as well as land costs related to unevaluated properties.  No capitalized costs related to unevaluated properties are included in the amortization base at September 30, 2013 and December 31, 2012.  It is anticipated that these costs will be added to the full cost amortization pool in the next two years as properties are proved, drilled or abandoned.
	Ceiling Test Analysis - Under the full cost method, net capitalized costs are limited to the lower of unamortized cost reduced by the related net deferred tax liability and asset retirement obligations or the cost center ceiling.  The cost center ceiling is defined as the sum of (i) estimated future net revenue, discounted at 10% per annum, from proved reserves, based on unescalated average prices per barrel of oil and per MMbtu of natural gas at the first day of each month in the 12-month period prior to the end of the reporting period and costs, adjusted for contract provisions and financial derivatives that hedge our oil and gas revenue and asset retirement obligations, (ii) the cost of properties not being amortized, and (iii) the lower of cost or market value of unproved properties included in the cost being amortized, reduced by (iv) the income tax effects related to differences between the book and tax basis of the crude oil and natural gas properties. If the net book value reduced by the related net deferred income tax liability and asset retirement obligations exceeds the cost center ceiling limitation, a non-cash impairment charge is required in the period in which the impairment occurs.
	We perform a quarterly ceiling test for each of our oil and gas cost centers.  There is only one such cost center in 2013.  The reserves used in the ceiling test and the ceiling test itself incorporate assumptions regarding pricing and discount rates over which management has no influence in the determination of present value.  In arriving at the ceiling test for the quarter ended September 30, 2013, we used $95.04 per barrel for oil and $3.612 per MMbtu for natural gas (and adjusted for property specific gravity, quality, local markets and distance from markets) to compute the future cash flows of our producing properties.  The discount factor used was 10%.
	During the three and nine months ended September 30, 2013, the Company recorded a proved property impairment of $0 and $5.8 million, respectively, related to its oil and gas assets.  The impairment recorded for the nine months ended September 30, 2013 was primarily due to a decline in the price of oil, additional capitalized well costs and changes in production.  During the nine months ended September 30, 2012, the Company recorded a proved property impairment of $523,000, primarily due to a decline in natural gas prices.  Management will continue to review our unproved properties based on market conditions and other changes and, if appropriate, unproved property amounts may be reclassified to the amortized base of properties within the full cost pool.
	Wells in Progress - Wells in progress represent the costs associated with unproved wells that have not reached total depth or have not been completed as of period end.  They are classified as wells in progress and withheld from the depletion calculation.  The costs for these wells are then transferred to evaluated property when the wells reach total depth and are completed and the costs become subject to depletion and the ceiling test calculation in future periods.
Mineral Properties	'
	Mineral Properties
	We capitalize all costs incidental to the acquisition of mineral properties.  Mineral exploration costs are expensed as incurred.  When exploration work indicates that a mineral property can be economically developed as a result of establishing proved and probable reserves, costs for the development of the mineral property as well as capital purchases and capital construction are capitalized and amortized using units of production over the estimated recoverable proved and probable reserves. Costs and expenses related to general corporate overhead are expensed as incurred. All capitalized costs are charged to operations if we subsequently determine that the property is not economical due to permanent decreases in market prices of commodities, excessive production costs or depletion of the mineral resource. Mineral properties at September 30, 2013 and December 31, 2012 reflect capitalized costs associated with our Mt. Emmons molybdenum property near Crested Butte, Colorado.
	Our carrying balance in the Mt. Emmons property at September 30, 2013 and December 31, 2012 is as follows:
		(In thousands)
		September 30,			December 31,
		2013			2012
	Costs associated with Mount Emmons beginning of year	$	20,739		$	20,739
	Development costs		--			--
	Costs at the end of the period	$	20,739		$	20,739
Derivative Instruments	'
	Derivative Instruments
	The Company uses derivative instruments, typically fixed-rate swaps and costless collars, to manage price risk underlying its oil and gas production.  All derivative instruments are recorded in the consolidated balance sheets at fair value. The Company offsets fair value amounts recognized for derivative instruments executed with the same counterparty. Although the Company does not designate any of its derivative instruments as a cash flow hedge, such derivative instruments provide an economic hedge of our exposure to commodity price risk associated with forecasted future oil and gas production. These contracts are accounted for using the mark-to-market accounting method and accordingly, the Company recognizes all unrealized and realized gains and losses related to these contracts currently in earnings and classifies them as gain (loss) on derivative instruments, net in our consolidated statements of operations. The Company may also use puts, calls and basis swaps in the future.
	The Company’s Board of Directors sets all risk management policies and reviews the status and results of derivative activities, including volumes, types of instruments and counterparties on a quarterly basis. These policies require that derivative instruments be executed only by the Chief Executive Officer or President. The agreements with approved counterparties identify the Chief Executive Officer and President as the only Company representatives authorized to execute trades. See Note 5, Commodity Price Risk Management, for further discussion.
Revenue Recognition	'
	Revenue Recognition
	The Company records oil and natural gas revenue under the sales method of accounting. Under the sales method, we recognize revenues based on the amount of oil or natural gas sold to purchasers, which may differ from the amounts to which we are entitled based on our interest in the properties. Natural gas balancing obligations as of September 30, 2013 were not significant.
	Revenues from real estate operations are reported on a gross revenue basis and are recorded at the time the service is provided.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	On January 1, 2013, the Company adopted new authoritative accounting guidance issued by the Financial Accounting Standards Board (“FASB”), which enhanced disclosures by requiring an entity to disclose information about netting arrangements, including rights of offset, to enable users of its financial statements to understand the effect of those arrangements on its financial position and provided clarification as to the specific instruments that should be considered in these disclosures. These pronouncements were issued to facilitate comparison between financial statements prepared on the basis of GAAP and International Financial Reporting Standards. These disclosures are effective for annual and interim reporting periods beginning on or after January 1, 2013, and are to be applied retrospectively for all comparative periods presented. The impact of retrospectively adopting these pronouncements did not have a material impact on the Company’s consolidated financial statements but did impact the Company's disclosures.
	The Company has reviewed other current outstanding statements from the FASB and does not believe that any of those statements will have a material adverse effect on the financial statements of the Company when adopted.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Components of property and equipment	'
	Components of Property and Equipment as of September 30, 2013 and December 31, 2012 are as follows:
		(In thousands)
		September 30,			December 31,
		2013			2012
	Oil & Gas properties
	Unproved	$	9,687		$	9,169
	Wells in progress		777			--
	Proved		127,382			119,919
			137,846			129,088
	Less accumulated depreciation
	depletion and amortization		(53,333	)		(43,454	)
	Net book value		84,513			85,634
	Mineral properties		20,739			20,739
	Building, land and equipment		8,410			8,469
	Less accumulated depreciation		(4,184	)		(4,034	)
	Net book value		4,226			4,435
	Totals	$	109,478		$	110,808
Mineral properties	'
	Our carrying balance in the Mt. Emmons property at September 30, 2013 and December 31, 2012 is as follows:
		(In thousands)
		September 30,			December 31,
		2013			2012
	Costs associated with Mount Emmons beginning of year	$	20,739		$	20,739
	Development costs		--			--
	Costs at the end of the period	$	20,739		$	20,739

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligations [Abstract]	'
Reconciliation of the total liability for asset retirement obligations	'
	The following is a reconciliation of the total liability for asset retirement obligations:
		(In thousands)
		September 30,		December 31,
		2013		2012
	Beginning asset retirement obligation	$	686	$	510
	Accretion of discount		28		34
	Liabilities incurred		61		142
	Ending asset retirement obligation	$	775	$	686
	Mineral properties	$	171	$	162
	Oil & Gas wells		604		524
	Ending asset retirement obligation	$	775	$	686

Commodity_Price_Risk_Managemen1

Commodity Price Risk Management (Tables)	9 Months Ended
	Sep. 30, 2013
Commodity Price Risk Management [Abstract]	'
Commodity derivative contracts	'
	Energy One's commodity derivative contracts as of September 30, 2013 are summarized below:
					Quantity
	Settlement Period	Counterparty	Basis		(Bbls/day)			Strike Price
	Crude Oil Costless Collar
	10/01/12 - 09/30/13	BNP Paribas	WTI			200		Put:		$	95
								Call:		$	116.6
	Crude Oil Costless Collar
	07/01/13 - 09/30/13	Wells Fargo	WTI			400		Put:		$	90
								Call:		$	97.5
	Crude Oil Costless Collar
	10/01/13 - 12/31/13	Wells Fargo	WTI			600		Put:		$	90
								Call:		$	97.5
	Crude Oil Costless Collar
	01/01/14 - 06/30/14	Wells Fargo	WTI			300		Put:		$	90
								Call:		$	95
	Crude Oil Costless Collar
	01/01/14 - 06/30/14	Wells Fargo	WTI			300		Put:		$	90
								Call:		$	97.25
	Crude Oil Costless Collar
	07/01/14 - 12/31/14	Wells Fargo	WTI			300		Put:		$	90
								Call:		$	98.4
Fair value of derivatives recorded in applicable consolidated balance sheet, by category	'
	The following table details the fair value of the derivatives recorded in the applicable condensed consolidated balance sheet, by category:
		As of September 30, 2013
		(in thousands)
		Derivative Assets					Derivative Liabilities
		Balance Sheet		Fair			Balance Sheet		Fair
		Classification		Value			Classification		Value
	Crude oil costless collars	Current Asset		$	62		Current Liability		$	647

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements [Abstract]	'
Fair value measurements	'
	The following table is a listing of the Company's assets and liabilities that are measured at fair value and their classification within the fair value hierarchy as of September 30, 2013.
		(In thousands)
				Fair Value Measurements at September 30, 2013 Using
		September 30,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Description	2013		(Level 1)		(Level 2)		(Level 3)
	Commodity risk management assets	$	62	$	--	$	62	$	--
	Available for sale securities		75		75		--		--
	Total assets	$	137	$	75	$	62	$	--
	Commodity risk management liability	$	647	$	--	$	647	$	--
	Other accrued liabilities 1		746		--		--		746
	Total liabilities	$	1,393	$	--	$	647	$	746
	1 Other accrued liabilities is the company's liability for the executive retirement program

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2013
Shareholders' Equity [Abstract]	'
Changes in common stock	'
	The following table details the changes in common stock during the nine months ended September 30, 2013:
	(Amounts in thousands, except for share amounts)
							Additional
		Common Stock					Paid-In
		Shares			Amount		Capital
	Balance January 1, 2013		27,652,602		$	277	$	123,078
	2001 stock compensation plan		30,000			--		48
	Expense of employee options vesting		--			--		76
	Expense of outside director options vesting		--			--		47
	Balance September 30, 2013		27,682,602		$	277	$	123,249
Activity in employee stock options and non-employee director stock options	'
	The following table represents the activity in employee stock options and non-employee director stock options for the nine months ended September 30, 2013:
		30-Sep-13
		Employee Stock Options					Director Stock Options
					Weighted					Weighted
					Average					Average
					Exercise					Exercise
		Options			Price		Options			Price
	Outstanding balance at December 31, 2012		2,259,282		$	3.8		150,000		$	3.05
	Granted		270,000		$	2.08		36,000		$	2.08
	Forfeited		--		$	--		--		$	--
	Expired		(28,333	)	$	4.68		(40,000	)	$	2.6
	Exercised		--		$	--		--		$	--
	Outstanding at September 30, 2013		2,500,949		$	3.6		146,000		$	2.93
	Exercisable at September 30, 2013		2,137,619		$	3.85		56,668		$	3.46
	Weighted Average Remaining Contractual Life - Years					4.26					8.35
	Aggregate intrinsic value of options outstanding				$	--				$	--

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Information [Abstract]	'
Summary of result of operations and total assets by segment	'
	As of September 30, 2013, we had two reportable segments: Oil and Gas and Maintenance of Mineral Properties.  A summary of results of operations for the three and nine months ended September 30, 2013, and 2012, and total assets as of September 30, 2013 and December 31, 2012 by segment are as follows:
		(In thousands)						(In thousands)
		For the three months ended September 30,						For the nine months ended September 30,
		2013			2012			2013			2012
	Revenues:
	Oil and gas	$	8,582		$	7,639		$	24,376		$	24,496
	Total revenues		8,582			7,639			24,376			24,496
	Operating expenses:
	Oil and gas		6,082			5,924			23,948			19,569
	Mineral properties		804			1,009			2,148			2,270
	Total operating expenses		6,886			6,933			26,096			21,839
	Interest expense:
	Oil and gas		65			45			213			103
	Mineral properties		3			6			9			18
	Total interest expense		68			51			222			121
	Operating income (loss)
	Oil and gas	$	2,435		$	1,670		$	215		$	4,824
	Mineral properties		(807	)		(1,015	)		(2,157	)		(2,288	)
	Operating income (loss)
	from identified segments		1,628			655			(1,942	)		2,536
	General and administrative expenses		(1,337	)		(3,415	)		(3,963	)		(7,069	)
	Add back interest expense		68			51			222			121
	Other revenues and expenses		(1,065	)		(446	)		(786	)		1,048
	Income (loss) before income taxes
	and discontinued operations	$	(706	)	$	(3,155	)	$	(6,469	)	$	(3,364	)
	Depreciation depletion and amortization expense:
	Oil and gas	$	3,205		$	3,410		$	9,879		$	11,081
	Mineral properties		31			31			95			95
	Corporate		36			121			112			366
	Total depreciation expense	$	3,272		$	3,562		$	10,086		$	11,542
		(In thousands)
		30-Sep			December 31,
		2013			2012
	Assets by segment
	Oil and gas	$	93,710		$	93,839
	Mineral		20,746			20,747
	Corporate		10,900			26,241
	Total assets	$	125,356		$	140,827

Basis_of_Presentation_Details

Basis of Presentation (Details)	Sep. 30, 2013
Basis of Presentation [Abstract]	'
Percentage of ownership in entities for accounting under equity method, minimum (in hundredths)	20.00%

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
			Center
Oil & Gas properties [Abstract]	'	'	'	'	'
Unproved	$9,687,000	'	$9,687,000	'	$9,169,000
Wells in progress	777,000	'	777,000	'	0
Proved	127,382,000	'	127,382,000	'	119,919,000
Oil & Gas properties	137,846,000	'	137,846,000	'	129,088,000
Less accumulated depreciation depletion and amortization	-53,333,000	'	-53,333,000	'	-43,454,000
Net book value	84,513,000	'	84,513,000	'	85,634,000
Mineral properties	20,739,000	'	20,739,000	'	20,739,000
Building, land and equipment	8,410,000	'	8,410,000	'	8,469,000
Less accumulated depreciation	-4,184,000	'	-4,184,000	'	-4,034,000
Net book value	4,226,000	'	4,226,000	'	4,435,000
Net properties and equipment	109,478,000	'	109,478,000	'	110,808,000
Oil and Gas Properties [Abstract]	'	'	'	'	'
Capitalized costs excluded from amortized cost pool	10,500,000	'	10,500,000	'	9,200,000
Capitalized costs related to unevaluated properties included in the amortization base	0	'	0	'	0
Period after which costs will be added to the full cost amortization pool for properties	'	'	'2 years	'	'
Percentage of discount used for future net revenue (in hundredths)	'	'	10.00%	'	'
Period for calculating unescalated average prices prior to the end of reporting period	'	'	'12 months	'	'
Number of cost centers for quarterly ceiling test for oil and gas	'	'	1	'	'
Price per barrel for oil at ceiling test (in dollars per barrel)	95.04	'	'	'	'
Price for natural gas at ceiling test (dollars per MMbtu)	3.612	'	'	'	'
Proved property impairments	0	0	5,828,000	523,000	'
Mineral Properties [Abstract]	'	'	'	'	'
Costs associated with Mount Emmons beginning of year	'	'	20,739,000	20,739,000	20,739,000
Development costs	'	'	0	'	0
Costs at the end of the period	$20,739,000	'	$20,739,000	'	$20,739,000
Minimum [Member]	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Estimated useful lives	'	'	'3 years	'	'
Maximum [Member]	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Estimated useful lives	'	'	'45 years	'	'

Assets_Held_for_Sale_Details

Assets Held for Sale (Details) (USD $)	3 Months Ended		9 Months Ended			0 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 11, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013
						Remington Village Multifamily [Member]	Remington Village Multifamily [Member]	Corporate Aircraft [Member]	Corporate Aircraft [Member]	Facilities [Member]
Long Lived Assets Held-for-sale [Line Items]	'	'	'	'	'	'	'	'	'	'
Assets held for sale	$0	'	$0	'	$17,051,000	$0	$15,200,000	'	$1,900,000	'
Selling price of asset	'	'	'	'	'	15,000,000	'	'	'	'
Commercial note due	'	'	'	'	'	9,500,000	'	'	'	'
Net proceeds on transaction	'	'	'	'	'	5,000,000	'	'	'	'
Liabilities held for sale	0	'	0	'	10,022,000	0	'	'	'	'
(Loss) on sale of discontinued of operations	-120,000	0	-120,000	0	'	-120,000	'	'	'	'
Depreciation of assets held for sale not recorded	'	'	660,000	560,000	'	'	'	'	'	'
Proceeds from sale of assets held for sale	'	'	'	'	'	'	'	$1,900,000	'	$767,000

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Reconciliation of the total liability for asset retirement obligations [Roll Forward]	'	'
Beginning asset retirement obligation	$686	$510
Accretion of discount	28	34
Liabilities incurred	61	142
Ending asset retirement obligation	775	686
Mineral properties [Member]	'	'
Reconciliation of the total liability for asset retirement obligations [Roll Forward]	'	'
Ending asset retirement obligation	171	162
Oil & Gas wells [Member]	'	'
Reconciliation of the total liability for asset retirement obligations [Roll Forward]	'	'
Ending asset retirement obligation	$604	$524

Commodity_Price_Risk_Managemen2

Commodity Price Risk Management (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
	bbl
Current Asset [Member] | Crude Oil Costless Collars [Member]	'
Derivatives, Fair Value [Line Items]	'
Derivative Assets, Fair Value	62
Current Liability [Member] | Crude Oil Costless Collars [Member]	'
Derivatives, Fair Value [Line Items]	'
Derivative Liabilities, Fair Value	647
Crude Oil Costless Collar 10/01/12 - 09/30/13 [Member]	'
Derivative [Line Items]	'
Counterparty	'BNP Paribas
Basis	'WTI
Quantity (barrels per day)	200
Crude Oil Costless Collar 10/01/12 - 09/30/13 [Member] | Put Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	95
Crude Oil Costless Collar 10/01/12 - 09/30/13 [Member] | Call Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	117
Crude Oil Costless Collar 07/01/13 - 09/30/13 [Member]	'
Derivative [Line Items]	'
Counterparty	'Wells Fargo
Basis	'WTI
Quantity (barrels per day)	400
Crude Oil Costless Collar 07/01/13 - 09/30/13 [Member] | Put Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	90
Crude Oil Costless Collar 07/01/13 - 09/30/13 [Member] | Call Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	97.5
Crude Oil Costless Collar 10/01/13 - 12/31/13 [Member]	'
Derivative [Line Items]	'
Counterparty	'Wells Fargo
Basis	'WTI
Quantity (barrels per day)	600
Crude Oil Costless Collar 10/01/13 - 12/31/13 [Member] | Put Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	90
Crude Oil Costless Collar 10/01/13 - 12/31/13 [Member] | Call Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	97.5
Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]	'
Derivative [Line Items]	'
Counterparty	'Wells Fargo
Basis	'WTI
Quantity (barrels per day)	300
Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member] | Put Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	90
Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member] | Call Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	95
Crude Oil Costless Collar 01/01/14 - 06/30/14 (2) [Member]	'
Derivative [Line Items]	'
Counterparty	'Wells Fargo
Basis	'WTI
Quantity (barrels per day)	300
Crude Oil Costless Collar 01/01/14 - 06/30/14 (2) [Member] | Put Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	90
Crude Oil Costless Collar 01/01/14 - 06/30/14 (2) [Member] | Call Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	97.25
Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]	'
Derivative [Line Items]	'
Counterparty	'Wells Fargo
Basis	'WTI
Quantity (barrels per day)	300
Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member] | Put Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	90
Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member] | Call Option [Member]	'
Derivative [Line Items]	'
Strike Price (in dollars per barrel)	98.4

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 30, 2013
Fair Value Measurements [Abstract]	'
Fair value and carrying value of debt	$7,200,000
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Commodity risk management assets	62,000
Available for sale securities	75,000
Total assets	137,000
Commodity risk management liability	647,000
Other accrued liabilities	746,000	[1]
Total	1,393,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Commodity risk management assets	0
Available for sale securities	75,000
Total assets	75,000
Commodity risk management liability	0
Other accrued liabilities	0	[1]
Total	0
Significant Other Observable Inputs (Level 2) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Commodity risk management assets	62,000
Available for sale securities	0
Total assets	62,000
Commodity risk management liability	647,000
Other accrued liabilities	0	[1]
Total	647,000
Significant Unobservable Inputs (Level 3) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Commodity risk management assets	0
Available for sale securities	0
Total assets	0
Commodity risk management liability	0
Other accrued liabilities	746,000	[1]
Total	$746,000
[1]	Other accrued liabilities is the company's liability for the executive retirement program.

Debt_Details

Debt (Details) (USD $)	0 Months Ended	9 Months Ended
	Jul. 23, 2013	Sep. 30, 2013
	bbl
Debt [Abstract]	'	'
Total debt	'	$7,200,000
Land Debt [Member]	'	'
Debt [Abstract]	'	'
Total debt	'	200,000
Maturity date of debt	'	2-Jan-14
Interest rate (in hundredths)	'	6.00%
Senior credit facility [Member]	'	'
Debt [Abstract]	'	'
Total debt	'	7,000,000
Maturity date of debt	30-Jul-17	'
Barrels per day permitted to hedge (per day)	600	'
Reasonable percentage of projected production (in hundredths)	85.00%	'
Borrowing base	25,000,000	'
Amount borrowed	'	$7,000,000
Interest rate (in hundredths)	'	2.44%
Maturity term of senior credit facility	'	'6 months
Senior credit facility [Member] | Minimum [Member]	'	'
Debt [Abstract]	'	'
Applicable margin rate for Eurodollar Loan (in hundredths)	2.00%	'
Applicable margin rate for Alternate Base Rate Loans (in hundredths)	1.00%	'
Senior credit facility [Member] | Maximum [Member]	'	'
Debt [Abstract]	'	'
Applicable margin rate for Eurodollar Loan (in hundredths)	3.00%	'
Applicable margin rate for Alternate Base Rate Loans (in hundredths)	2.00%	'

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares issued of common stock (in shares)	0	'	30,000	'
Changes in common stock [Roll Forward]	'	'	'	'
Balance	'	'	$116,117,000	'
Balance	110,021,000	'	110,021,000	'
Employee Stock Options [Member]	'	'	'	'
Options [Roll Forward]	'	'	'	'
Outstanding beginning balance (in shares)	'	'	2,259,282	'
Granted (in shares)	270,000	'	270,000	'
Forfeited (in shares)	'	'	0	'
Expired (in shares)	'	'	-28,333	'
Exercised (in shares)	'	'	0	'
Outstanding ending balance (in shares)	2,500,949	'	2,500,949	'
Exercisable (in shares)	2,137,619	'	2,137,619	'
Weighted Average Exercise Price [Roll Forward]	'	'	'	'
Beginning Balance (in dollars per share)	'	'	$3.80	'
Granted (in dollars per share)	$2.08	'	$2.08	'
Forfeited (in dollars per share)	'	'	$0	'
Expired (in dollars per share)	'	'	$4.68	'
Exercised (in dollars per share)	'	'	$0	'
Ending Balance (in dollars per share)	$3.60	'	$3.60	'
Exercisable (in dollars per share)	$3.85	'	$3.85	'
Vesting period	'	'	'3 years	'
Expiration period	'	'	'10 years	'
Risk free interest rate (in hundredths)	'	'	1.66%	'
Expected lives	'	'	'6 years	'
Expected volatility (in hundredths)	'	'	62.59%	'
Weighted Average Remaining Contractual Life - Years	'	'	'4 years 3 months 4 days	'
Aggregate intrinsic value of options outstanding	0	'	0	'
Share-based compensation expense	44,000	15,000	76,000	17,000
Total unrecognized expense for the option plan	414,000	'	414,000	'
Weighted average remaining vesting period	'	'	'2 years 5 months 23 days	'
Director Stock Options [Member]	'	'	'	'
Options [Roll Forward]	'	'	'	'
Outstanding beginning balance (in shares)	'	'	150,000	'
Granted (in shares)	36,000	'	36,000	'
Forfeited (in shares)	'	'	0	'
Expired (in shares)	'	'	-40,000	'
Exercised (in shares)	'	'	0	'
Outstanding ending balance (in shares)	146,000	'	146,000	'
Exercisable (in shares)	56,668	'	56,668	'
Weighted Average Exercise Price [Roll Forward]	'	'	'	'
Beginning Balance (in dollars per share)	'	'	$3.05	'
Granted (in dollars per share)	$2.08	'	$2.08	'
Forfeited (in dollars per share)	'	'	$0	'
Expired (in dollars per share)	'	'	$2.60	'
Exercised (in dollars per share)	'	'	$0	'
Ending Balance (in dollars per share)	$2.93	'	$2.93	'
Exercisable (in dollars per share)	$3.46	'	$3.46	'
Vesting period	'	'	'3 years	'
Expiration period	'	'	'10 years	'
Risk free interest rate (in hundredths)	'	'	1.66%	'
Expected lives	'	'	'6 years	'
Expected volatility (in hundredths)	'	'	62.59%	'
Weighted Average Remaining Contractual Life - Years	'	'	'8 years 4 months 6 days	'
Aggregate intrinsic value of options outstanding	0	'	0	'
Share-based compensation expense	16,000	16,000	47,000	53,000
Total unrecognized expense for the option plan	107,000	'	107,000	'
Weighted average remaining vesting period	'	'	'1 year 10 months 20 days	'
Common Stock [Member]	'	'	'	'
Changes in common stock [Roll Forward]	'	'	'	'
Balance	'	'	277,000	'
Balance (in shares)	'	'	27,652,602	'
2001 stock compensation plan	'	'	0	'
2001 stock compensation plan (in shares)	'	'	30,000	'
Expense of employee options vesting	'	'	0	'
Expense of outside director options vesting	'	'	0	'
Balance	277,000	'	277,000	'
Balance (in shares)	27,682,602	'	27,682,602	'
Additional Paid-In Capital [Member]	'	'	'	'
Changes in common stock [Roll Forward]	'	'	'	'
Balance	'	'	123,078,000	'
2001 stock compensation plan	'	'	48,000	'
Expense of employee options vesting	'	'	76,000	'
Expense of outside director options vesting	'	'	47,000	'
Balance	$123,249,000	'	$123,249,000	'

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
			Segment
Segment Information [Abstract]	'	'	'	'	'
Number of reportable segments	'	'	2	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'	'	'
Total revenues	$8,582	$7,639	$24,376	$24,496	'
Total operating expenses	6,886	6,933	26,096	21,839	'
Total interest expense	68	51	222	121	'
Operating income (loss) from identified segments	359	-2,709	-5,683	-4,412	'
General and administrative expenses	-1,337	-3,415	-3,963	-7,069	'
Add back Interest expenses	68	51	222	121	'
Other revenues and expenses:	-1,065	-446	-786	1,048	'
Income (loss) before income taxes and discontinued operations	-706	-3,155	-6,469	-3,364	'
Depreciation depletion and amortization expense [Abstract]	'	'	'	'	'
Total depreciation expense	3,272	3,562	10,086	11,542	'
Assets by segment [Abstract]	'	'	'	'	'
Total Assets	125,356	'	125,356	'	140,827
Oil and Gas [Member]	'	'	'	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'	'	'
Total revenues	8,582	7,639	24,376	24,496	'
Total operating expenses	6,082	5,924	23,948	19,569	'
Total interest expense	65	45	213	103	'
Operating income (loss) from identified segments	2,435	1,670	215	4,824	'
Add back Interest expenses	65	45	213	103	'
Depreciation depletion and amortization expense [Abstract]	'	'	'	'	'
Total depreciation expense	3,205	3,410	9,879	11,081	'
Assets by segment [Abstract]	'	'	'	'	'
Total Assets	93,710	'	93,710	'	93,839
Mineral properties [Member]	'	'	'	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'	'	'
Total operating expenses	804	1,009	2,148	2,270	'
Total interest expense	3	6	9	18	'
Operating income (loss) from identified segments	-807	-1,015	-2,157	-2,288	'
Add back Interest expenses	3	6	9	18	'
Depreciation depletion and amortization expense [Abstract]	'	'	'	'	'
Total depreciation expense	31	31	95	95	'
Assets by segment [Abstract]	'	'	'	'	'
Total Assets	20,746	'	20,746	'	20,747
Corporate [Member]	'	'	'	'	'
Depreciation depletion and amortization expense [Abstract]	'	'	'	'	'
Total depreciation expense	36	121	112	366	'
Assets by segment [Abstract]	'	'	'	'	'
Total Assets	10,900	'	10,900	'	26,241
Reportable Segment [Member]	'	'	'	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'	'	'
Operating income (loss) from identified segments	$1,628	$655	($1,942)	$2,536	'

Equity_Income_in_Unconsolidate1

Equity Income in Unconsolidated Investment (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Equity Income in Unconsolidated Investment [Abstract]	'	'	'	'
Equity gain (loss) from Standard Steam	$11	($17)	($40)	($168)