U.S. Energy (USEG) 10-Q 9 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	6-May-14
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	'	27,765,514
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$2,512	$5,855
Available for sale securities	45	69
Accounts receivable trade	6,443	6,801
Commodity risk management asset	0	14
Other current assets	314	422
Total current assets	9,314	13,161
Properties and equipment	'	'
Oil & gas properties under full cost method, net of $60,370 and $57,077 accumulated depletion, depreciation and amortization	91,603	86,922
Undeveloped mining claims	21,942	20,739
Property, plant and equipment, net	4,130	4,199
Net properties and equipment	117,675	111,860
Other assets	1,788	1,780
Total assets	128,777	126,801
Current liabilities:	'	'
Accounts payable	5,841	6,167
Accrued compensation	423	580
Commodity risk management liability	439	280
Other current liabilities	143	164
Total current liabilities	6,846	7,191
Long-term debt, net of current portion	11,000	9,000
Asset retirement obligations	898	812
Other accrued liabilities	718	741
Commitments and contingencies	'	'
Shareholders' equity	'	'
Common stock, $.01 par value; unlimited shares authorized; 27,765,514 and 27,735,878 shares issued, respectively	278	277
Additional paid-in capital	123,542	123,510
Accumulated deficit	-14,468	-14,718
Other comprehensive loss	-37	-12
Total shareholders' equity	109,315	109,057
Total liabilities and shareholders' equity	$128,777	$126,801

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Properties and equipment	'	'
Oil & gas properties under full cost method, accumulated depletion, depreciation and amortization	$60,370	$57,077
Shareholders' equity	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares issued (in shares)	27,765,514	27,735,878

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) [Abstract]	'	'
Oil, gas, and NGL production revenues:	$8,256	$7,879
Operating expenses:	'	'
Oil and gas	1,972	2,799
Oil and gas depreciation, depletion and amortization	3,294	3,461
Impairment of oil and gas properties	0	5,828
Water treatment plant	457	417
Mineral holding costs	300	227
General and administrative	1,606	1,272
Total operating expenses	7,629	14,004
Income (loss) from operations	627	-6,125
Other income and expenses:	'	'
Realized (loss) gain on risk management activities	-158	14
Unrealized gain on risk management activities	-173	-616
Gain on the sale of assets	28	696
Equity loss in unconsolidated investment	0	-25
Miscellaneous income	21	39
Interest income	1	2
Interest expense	-96	-115
Total other income and (expenses)	-377	-5
Income (loss) before income taxes and discontinued operation	250	-6,130
Income taxes:	'	'
Current (provision for)	0	0
Deferred benefit from	0	0
Total income taxes	0	0
Income (loss) from continuing operations	250	-6,130
Discontinued operations:	'	'
Discontinued operations, net of taxes	0	232
Total discontinued operations	0	232
Net income (loss)	$250	($5,898)
Net income (loss) per share basic	'	'
Income (loss) from continuing operations (in dollars per share)	$0.01	($0.22)
Income (loss) from discontinued operations (in dollars per share)	$0	$0.01
Net income (loss) per share (in dollars per share)	$0.01	($0.21)
Net income (loss) per share diluted	'	'
Income (loss) from continuing operations (in dollars per share)	$0.01	($0.22)
Income (loss) from discontinued operations (in dollars per share)	$0	$0.01
Net income (loss) per share (in dollars per share)	$0.01	($0.21)
Weighted average shares outstanding	'	'
Basic (in shares)	27,738,083	27,667,102
Diluted (in shares)	28,142,253	27,667,102

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]	'	'
Net income (loss)	$250	($5,898)
Other comprehensive (loss) income:	'	'
Marketable securities, net of tax	-25	-39
Total comprehensive income (loss)	$225	($5,937)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income (loss)	$250	($5,898)
(Gain) from discontinued operations	0	-232
Income (loss) from continuing operations	250	-6,130
Adjustments to reconcile net loss to net cash provided by operations	'	'
Depreciation, depletion & amortization	3,362	3,532
Change in fair value of commodity price risk management activities, net	173	616
Impairment of oil and gas properties	0	5,828
Equity loss from Standard Steam	0	25
(Gain) on sale of assets	-28	-696
Noncash compensation	143	112
Noncash services	17	15
Accounts payable	270	734
Net changes in assets and liabilities	182	-771
Net cash provided by operating activities	4,369	3,265
Cash flows from investing activities:	'	'
Acquisition and development of oil & gas properties	-8,495	-6,074
Acquisition of property	-1,202	0
Proceeds from sale of property and equipment	28	2,563
Net change in restricted investments	-16	-37
Net cash (used in) investing activities	-9,685	-3,548
Cash flows from financing activities:	'	'
Issuance of common stock	-27	0
Proceeds from new debt	2,000	0
Repayments of debt	0	-79
Net cash provided by (used in) financing activities	1,973	-79
Net cash provided by operating activities of discontinued operations	0	84
Net (decrease) in cash and cash equivalents	-3,343	-278
Cash and cash equivalents at beginning of period	5,855	2,825
Cash and cash equivalents at end of period	2,512	2,547
Supplemental disclosures:	'	'
Interest paid	96	115
Non-cash investing and financing activities:	'	'
Unrealized change from available for sale securities	25	62
Acquisition and development of oil and gas properties through accounts payable	596	230
Acquisition and development of oil and gas properties through asset retirement obligations	$76	$11

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Basis of Presentation [Abstract]	'
Basis of Presentation	'
	1)       Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements for the periods ended March 31, 2014 and March 31, 2013 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 March 31, 2014 and December 31, 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, 2013 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 Annual Report on Form 10-K for the year ended December 31, 2013 (the “2013 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	3 Months Ended
	Mar. 31, 2014
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 2013 10-K (Note B, pages 86 to 94).
	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 March 31, 2014 and December 31, 2013 are as follows:
			(In thousands)
			March 31,			December 31,
			2014			2013
	Oil & Gas properties
	Unproved		$	8,164		$	7,478
	Wells in progress			1,151			--
	Proved			142,658			136,521
				151,973			143,999
	Less accumulated depreciation
	depletion and amortization			(60,370	)		(57,077	)
	Net book value			91,603			86,922
	Mineral properties			21,942			20,739
	Building, land and equipment			8,334			8,334
	Less accumulated depreciation			(4,204	)		(4,135	)
	Net book value			4,130			4,199
	Totals		$	117,675		$	111,860
	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 March 31, 2014 and December 31, 2013 which were not included in the amortized cost pool were $9.3 million and $7.5 million, respectively.  These costs consist of exploratory wells in progress, seismic costs that are being analyzed for potential drilling locations and land costs related to unevaluated properties.  No capitalized costs related to unevaluated properties are included in the amortization base at March 31, 2014 or December 31, 2013.
	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 2014.  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 March 31, 2014, we used $98.30 per barrel for oil and $3.989 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 months ended March 31, 2014 and 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 three months ended March 31, 2013 was primarily due to a decline in the price of oil, additional capitalized well costs and changes in production.  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 are 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 March 31, 2014 and December 31, 2013 reflect capitalized costs associated with our Mt. Emmons molybdenum property near Crested Butte, Colorado.
	Our carrying balance in the Mt. Emmons property at March 31, 2014 and December 31, 2013 is as follows:
			(In thousands)
			March 31,			December 31,
			2014			2013
	Costs associated with Mount Emmons
	beginning of year		$	20,739		$	20,739
	Property purchase (1)			1,203			--
	Costs at the end of the period		$	21,942		$	20,739
		-1	On January 21, 2014, the Company acquired Thompson Creek Metals’ (“TCM”) 50% interest in 160 acres of fee land in the vicinity of the Mt. Emmons project mining claims for $1.2 million.  The property was originally acquired jointly by the Company and TCM in January 2009.
	Derivative Instruments
	The Company uses derivative instruments, typically fixed-rate swaps and costless collars, to manage price risk relating to 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, on a net basis, 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. Please see Note 4, 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 March 31, 2014 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
	In April 2014, the Financial Accounting Standards Board issued new authoritative accounting guidance related to the recognition and presentation of discontinued operations in the financial statements. The guidance is aimed at reducing the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have or will have a major effect on an entity’s operations and financial results. This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2014, and is to be applied prospectively. The Company is currently evaluating the provisions of this authoritative guidance and assessing its impact, but does not currently believe it will have a material effect on the Company's financial statements or disclosures.
	There are no other new significant accounting standards applicable to the Company that have been issued but not yet adopted by the Company as of March 31, 2014.

Asset_Retirement_Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2014
Asset Retirement Obligations [Abstract]	'
Asset Retirement Obligations	'
	3)       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)
		March 31,		December 31,
		2014		2013
	Beginning asset retirement obligation	$	812	$	686
	Accretion of discount		10		38
	Liabilities incurred		76		131
	Liabilities settled		--		(43	)
	Ending asset retirement obligation	$	898	$	812
	Mineral properties	$	178	$	175
	Oil & Gas wells		720		637
	Ending asset retirement obligation	$	898	$	812

Commodity_Price_Risk_Managemen

Commodity Price Risk Management	3 Months Ended
	Mar. 31, 2014
Commodity Price Risk Management [Abstract]	'
Commodity Price Risk Management	'
	4)       Commodity Price Risk Management
	Through our wholly-owned subsidiary Energy One, we have entered into commodity derivative contracts (“economic hedges”) with 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.
	The use of derivatives involves the risk that the counterparties to such instruments will be unable to meet the financial terms of such contracts.  The Company’s derivative contracts are currently with one counterparty.  The Company has netting arrangement with the counterparty that provide for the offset of payables against receivables from separate derivative arrangements with the counterparty in the event of contract termination.  The derivative contracts may be terminated by a non-defaulting party in the event of default by one of the parties to the agreement.
	The Company’s commodity derivative instruments are measured at fair value and are included in the accompanying balance sheets as commodity price risk management assets and liabilities.  Derivative instruments 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 settlement of derivatives are recorded in the commodity price risk management activities line on the condensed consolidated statement of income.
	Energy One's commodity derivative contracts as of March 31, 2014 are summarized below:
						Quantity
	Settlement Period		Counterparty		Basis	(Bbls/day)			Strike Price
	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
	Crude Oil Costless Collar
	07/01/14 - 12/31/14		Wells Fargo		WTI		300		Put:	$	90
									Call:	$	97.4
	The following table details the fair value of the Company’s derivative instruments, including the gross amounts and adjustments made to net the derivative instruments for the presentation in the consolidated balance sheet (in thousands):
				As of March 31, 2014
	Underlying Commodity	Location on Balance Sheet		Gross amounts of recognized assets and liabilities			Gross amounts offset in the condensed consolidated balance sheet			Net amounts of assets and liabilities presented in the condensed consolidated balance sheet
	Crude oil derivative contract	Current assets		$	280		$	(280	)	$	--
	Crude oil derivative contract	Current liabilities		$	719		$	(280	)	$	439
				As of December 31, 2013
	Underlying Commodity	Location on Balance Sheet		Gross amounts of recognized assets and liabilities			Gross amounts offset in the condensed consolidated balance sheet			Net amounts of assets and liabilities presented in the condensed consolidated balance sheet
	Crude oil derivative contract	Current assets		$	345		$	(331	)	$	14
	Crude oil derivative contract	Current liabilities		$	611		$	(331	)	$	280
	The following table summarizes the unrealized and realized gains and losses presented in the accompanying statements of operations:
			(In thousands)
			For the three months ended March 31,
			2014			2013
	Realized derivative gain (loss)		$	(158	)	$	14
	Unrealized derivative gain (loss)		$	(173	)	$	(616	)
	Total realized and unrealized derivative gain (loss)		$	(331	)	$	(602	)

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements [Abstract]	'
Fair Value Measurements	'
	5)       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.  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 tables list the Company’s assets and liabilities that are measured at fair value and their classification within the fair value hierarchy as of March 31, 2014 and December 31, 2013:
			(In thousands)
					Fair Value Measurements at March 31, 2014 Using
			March 31,
	Description		2014		(Level 1)		(Level 2)		(Level 3)
	Available for sale securities		$	45	$	45		--		--
	Total assets		$	45	$	45	$	--	$	--
	Commodity risk management liability		$	439	$	--	$	439	$	--
	Other accrued liabilities 1			718		--		--		718
	Total liabilities		$	1,157	$	--	$	439	$	718
			(In thousands)
					Fair Value Measurements at December 31, 2013 Using
			December 31,
	Description		2013		(Level 1)		(Level 2)		(Level 3)
	Commodity risk management assets		$	14	$	--	$	14	$	--
	Available for sale securities			69		69		--		--
	Total assets		$	83	$	69	$	14	$	--
	Commodity risk management liability		$	280	$	--	$	280	$	--
	Other accrued liabilities 1			741		--		--		741
	Total liabilities		$	1,021	$	--	$	280	$	741
	1 Other accrued liabilities represents the Company’s estimated liability for its executive retirement program.
	Fair Value of Available for Sale Securities
	The fair value of available for sale securities is based on quoted market prices obtained from independent pricing services.  Accordingly, the Company has classified these instruments as Level 1.
	Fair Value of Commodity Derivative Instruments
	The Company determines its estimate of the fair value of derivative instruments using a market approach based on several factors, including quoted market prices in active markets, quotes from third parties, the credit rating of the counterparty and the Company’s own credit rating.  In consideration of counterparty credit risk, the Company assessed the possibility of whether the counterparty to the derivative would default by failing to make any contractually required payments.  Additionally, the Company considers that it is of substantial credit quality and has the financial resources and willingness to meet its potential repayment obligations associated with the derivative transactions.  At March 31, 2014 and December 31, 2013, derivative instruments utilized by the Company consist of “no premium” collars.  The crude oil derivative markets are highly active.  Although the Company’s derivative instruments are valued using indices, the instruments themselves are traded with third-party counterparties and are not openly traded on an exchange.  As such, the Company has classified these instruments as Level 2.
	Fair Value of Executive Retirement Program
	The executive retirement program is a standalone liability for which there is no available market price, principal market, or market participants.  The Company records the estimated fair value of the long-term liability for estimated future payments under the executive retirement program based on the discounted value of estimated future payments associated with each individual in the program.  The inputs available for this estimate are unobservable and are therefore classified as Level 3 inputs.
	Fair Value of Financial Instruments
	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 as it bears interest at variable rates over the term of the loan.  The fair value and carrying value of our debt was $11.0 million as of March 31, 2014.

Debt

Debt	3 Months Ended
	Mar. 31, 2014
Debt [Abstract]	'
Debt	'
	6)       Debt
	Revolving Credit Facility
	Energy One, a wholly-owned subsidiary of U.S. Energy Corp., has in place a credit facility with Wells Fargo Bank, National Association.  As of March 31, 2014, the maximum credit available under the credit facility was $100.0 million and the borrowing base under the facility was $25.0 million.
	As of March 31, 2014, the Company had $11.0 million in outstanding borrowings under the credit facility.  Subsequent to March 31, 2014, the Company made additional borrowings of $6.0 million bringing the outstanding balance as of the date of this report to $17.0 million.  Any borrowings under the credit facility are collateralized by the Energy One’s oil and gas producing properties.  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 2.48%.  As of March 31, 2014, Energy One was in compliance with all the covenants under the credit facility.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2014
Shareholders' Equity [Abstract]	'
Shareholders' Equity	'
	7)       Shareholders’ Equity
	Common Stock
	2001 Stock Compensation Plan.  The 2001 Stock Compensation Plan terminated on April 23, 2013 and, accordingly, no shares have been issued under this plan subsequent to that date.  During the three months ended March 31, 2013, the Company issued 15,000 shares of common stock to eligible officers of the Company and recorded $41,000 in compensation expense for shares issued pursuant to the 2001 Stock Compensation Plan.
	The following table details the changes in common stock during the three months ended March 31, 2014:
	(Amounts in thousands, except for share amounts)
							Additional
		Common Stock					Paid-In
		Shares			Amount		Capital
	Balance January 1, 2014		27,735,878		$	277	$	123,510
	Exercise of employee stock options		22,264			1		(35	)
	Exercise of outside director options		7,372			--		8
	Expense of employee options vesting		--			--		43
	Expense of outside director options vesting		--			--		16
	Balance March 31, 2014		27,765,514		$	278	$	123,542
	Stock Option Plans
	The following table represents the activity in employee stock options and non-employee director stock options for the three months ended March 31, 2014:
		31-Mar-14
		Employee Stock Options					Director Stock Options
					Weighted					Weighted
					Average					Average
					Exercise					Exercise
		Options			Price		Options			Price
	Outstanding balance at December 31, 2013		2,500,949		$	3.6		146,000		$	2.93
	Granted		--		$	--		--		$	--
	Forfeited		--		$	--		--		$	--
	Expired		--		$	--		--		$	--
	Exercised		(62,684	)	$	2.45		(13,334	)	$	2.72
	Outstanding at March 31, 2014		2,438,265		$	3.63		132,666		$	2.96
	Exercisable at March 31, 2014		2,074,935		$	3.89		63,334		$	3.43
	Weighted Average Remaining Contractual Life - Years					3.84					7.83
	Aggregate intrinsic value of options outstanding ($ Thousands)				$	2,965				$	242
	Employee Stock Option Plans.  During the three months ended March 31, 2014 and 2013, we recorded $43,000 and $16,000, respectively, in compensation expense for employee stock options.  As of March 31, 2014, there was $327,000 of total unrecognized compensation cost related to employee stock options, which is expected to be amortized over a weighted average period of 2.00 years.  The aggregate intrinsic value of employee stock options exercised during the three months ended March 31, 2014 was $139,000.
	Director Stock Option Plans.  During the three months ended March 31, 2014 and 2013, we recorded $16,000 and $16,000, respectively, in expense for options issued to non-employee directors.  As of March 31, 2014, there was $74,000 of total unrecognized compensation cost related to director stock options, which is expected to be amortized over a weighted average period of 1.52 years.  The aggregate intrinsic value of director stock options exercised during the three months ended March 31, 2014 was $28,000.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	8)       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 2014 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 March 31, 2014, 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	3 Months Ended
	Mar. 31, 2014
Segment Information [Abstract]	'
Segment Information	'
	9)       Segment Information
	As of March 31, 2014, we had two reportable segments: Oil and Gas and Maintenance of Mineral Properties.  A summary of results of operations for the three months ended March 31, 2014 and 2013, and total assets as of March 31, 2014 and December 31, 2013 by segment, are as follows:
		(In thousands)
		For the three months ended March 31,
		2014			2013
	Revenues:
	Oil and gas	$	8,256		$	7,879
	Total revenues		8,256			7,879
	Operating expenses:
	Oil and gas		5,266			12,088
	Mineral properties		757			644
	Total operating expenses		6,023			12,732
	Interest expense:
	Oil and gas		84			111
	Mineral properties		--			3
	Total interest expense		84			114
	Operating income (loss)
	Oil and gas	$	2,906		$	(4,320	)
	Mineral properties		(757	)		(647	)
	Operating income (loss)
	from identified segments		2,149			(4,967	)
	General and administrative expenses		(1,606	)		(1,272	)
	Add back interest expense		84			114
	Other revenues and expenses		(377	)		(5	)
	Income (loss) before income taxes
	and discontinued operations	$	250		$	(6,130	)
	Depreciation depletion and amortization expense:
	Oil and gas	$	3,294		$	3,641
	Mineral properties		31			32
	Corporate		37			125
	Total depreciation expense	$	3,362		$	3,798
		(In thousands)
		31-Mar			December 31,
		2014			2013
	Assets by segment
	Oil and gas	$	99,614		$	97,418
	Mineral		21,942			20,739
	Corporate		7,221			8,644
	Total assets	$	128,777		$	126,801

Equity_Income_in_Unconsolidate

Equity Income in Unconsolidated Investment	3 Months Ended
	Mar. 31, 2014
Equity Income in Unconsolidated Investment [Abstract]	'
Equity Income in Unconsolidated Investment	'
	10)       Equity Income in Unconsolidated Investment
	USE owns 19.54% of Standard Steam Trust, LLC (“SST”), a Denver, Colorado based private geothermal resource acquisition and development company.  At December 31, 2013, we recorded an impairment of $2.2 million on the investment in SST which reduced the carrying amount of our investment in SST to zero.  Subsequently, we no longer record our share of equity in earnings or losses.  During the three months ended March 31, 2013, we recorded an equity loss of $25,000 from our unconsolidated investment in SST.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	11)       Subsequent Events
	On May 7, 2014, the Company entered into a Participation Agreement with a private South Texas based Oil and Gas Company (“Seller”) to acquire 33% of the Seller’s interest in Dimmit County, Texas primary leasehold acreage and farm-in acreage to be earned through a continuous drilling program.  The Company paid $3.9 million to enter into the transaction, which includes our proportionate share of drilling costs for the initial test well in the prospect.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
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 March 31, 2014 and December 31, 2013 are as follows:
			(In thousands)
			March 31,			December 31,
			2014			2013
	Oil & Gas properties
	Unproved		$	8,164		$	7,478
	Wells in progress			1,151			--
	Proved			142,658			136,521
				151,973			143,999
	Less accumulated depreciation
	depletion and amortization			(60,370	)		(57,077	)
	Net book value			91,603			86,922
	Mineral properties			21,942			20,739
	Building, land and equipment			8,334			8,334
	Less accumulated depreciation			(4,204	)		(4,135	)
	Net book value			4,130			4,199
	Totals		$	117,675		$	111,860
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 March 31, 2014 and December 31, 2013 which were not included in the amortized cost pool were $9.3 million and $7.5 million, respectively.  These costs consist of exploratory wells in progress, seismic costs that are being analyzed for potential drilling locations and land costs related to unevaluated properties.  No capitalized costs related to unevaluated properties are included in the amortization base at March 31, 2014 or December 31, 2013.
	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 2014.  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 March 31, 2014, we used $98.30 per barrel for oil and $3.989 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 months ended March 31, 2014 and 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 three months ended March 31, 2013 was primarily due to a decline in the price of oil, additional capitalized well costs and changes in production.  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 are 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 March 31, 2014 and December 31, 2013 reflect capitalized costs associated with our Mt. Emmons molybdenum property near Crested Butte, Colorado.
	Our carrying balance in the Mt. Emmons property at March 31, 2014 and December 31, 2013 is as follows:
			(In thousands)
			March 31,			December 31,
			2014			2013
	Costs associated with Mount Emmons
	beginning of year		$	20,739		$	20,739
	Property purchase (1)			1,203			--
	Costs at the end of the period		$	21,942		$	20,739
		-1	On January 21, 2014, the Company acquired Thompson Creek Metals’ (“TCM”) 50% interest in 160 acres of fee land in the vicinity of the Mt. Emmons project mining claims for $1.2 million.  The property was originally acquired jointly by the Company and TCM in January 2009.
Derivative Instruments	'
	Derivative Instruments
	The Company uses derivative instruments, typically fixed-rate swaps and costless collars, to manage price risk relating to 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, on a net basis, 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. Please see Note 4, 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 March 31, 2014 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
	In April 2014, the Financial Accounting Standards Board issued new authoritative accounting guidance related to the recognition and presentation of discontinued operations in the financial statements. The guidance is aimed at reducing the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have or will have a major effect on an entity’s operations and financial results. This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2014, and is to be applied prospectively. The Company is currently evaluating the provisions of this authoritative guidance and assessing its impact, but does not currently believe it will have a material effect on the Company's financial statements or disclosures.
	There are no other new significant accounting standards applicable to the Company that have been issued but not yet adopted by the Company as of March 31, 2014.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]	'
Components of property and equipment	'
	Components of Property and Equipment as of March 31, 2014 and December 31, 2013 are as follows:
			(In thousands)
			March 31,			December 31,
			2014			2013
	Oil & Gas properties
	Unproved		$	8,164		$	7,478
	Wells in progress			1,151			--
	Proved			142,658			136,521
				151,973			143,999
	Less accumulated depreciation
	depletion and amortization			(60,370	)		(57,077	)
	Net book value			91,603			86,922
	Mineral properties			21,942			20,739
	Building, land and equipment			8,334			8,334
	Less accumulated depreciation			(4,204	)		(4,135	)
	Net book value			4,130			4,199
	Totals		$	117,675		$	111,860
Mineral properties	'
	Our carrying balance in the Mt. Emmons property at March 31, 2014 and December 31, 2013 is as follows:
			(In thousands)
			March 31,			December 31,
			2014			2013
	Costs associated with Mount Emmons
	beginning of year		$	20,739		$	20,739
	Property purchase (1)			1,203			--
	Costs at the end of the period		$	21,942		$	20,739
		-1	On January 21, 2014, the Company acquired Thompson Creek Metals’ (“TCM”) 50% interest in 160 acres of fee land in the vicinity of the Mt. Emmons project mining claims for $1.2 million.  The property was originally acquired jointly by the Company and TCM in January 2009.

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2014
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)
		March 31,		December 31,
		2014		2013
	Beginning asset retirement obligation	$	812	$	686
	Accretion of discount		10		38
	Liabilities incurred		76		131
	Liabilities settled		--		(43	)
	Ending asset retirement obligation	$	898	$	812
	Mineral properties	$	178	$	175
	Oil & Gas wells		720		637
	Ending asset retirement obligation	$	898	$	812

Commodity_Price_Risk_Managemen1

Commodity Price Risk Management (Tables)	3 Months Ended
	Mar. 31, 2014
Commodity Price Risk Management [Abstract]	'
Commodity derivative contracts	'
	Energy One's commodity derivative contracts as of March 31, 2014 are summarized below:
						Quantity
	Settlement Period		Counterparty		Basis	(Bbls/day)			Strike Price
	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
	Crude Oil Costless Collar
	07/01/14 - 12/31/14		Wells Fargo		WTI		300		Put:	$	90
									Call:	$	97.4
Fair value of derivatives recorded in applicable consolidated balance sheet, by category	'
	The following table details the fair value of the Company’s derivative instruments, including the gross amounts and adjustments made to net the derivative instruments for the presentation in the consolidated balance sheet (in thousands):
				As of March 31, 2014
	Underlying Commodity	Location on Balance Sheet		Gross amounts of recognized assets and liabilities			Gross amounts offset in the condensed consolidated balance sheet			Net amounts of assets and liabilities presented in the condensed consolidated balance sheet
	Crude oil derivative contract	Current assets		$	280		$	(280	)	$	--
	Crude oil derivative contract	Current liabilities		$	719		$	(280	)	$	439
				As of December 31, 2013
	Underlying Commodity	Location on Balance Sheet		Gross amounts of recognized assets and liabilities			Gross amounts offset in the condensed consolidated balance sheet			Net amounts of assets and liabilities presented in the condensed consolidated balance sheet
	Crude oil derivative contract	Current assets		$	345		$	(331	)	$	14
	Crude oil derivative contract	Current liabilities		$	611		$	(331	)	$	280
Schedule of unrealized and realized derivative gain loss	'
	The following table summarizes the unrealized and realized gains and losses presented in the accompanying statements of operations:
			(In thousands)
			For the three months ended March 31,
			2014			2013
	Realized derivative gain (loss)		$	(158	)	$	14
	Unrealized derivative gain (loss)		$	(173	)	$	(616	)
	Total realized and unrealized derivative gain (loss)		$	(331	)	$	(602	)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements [Abstract]	'
Fair value measurements	'
	The following tables list the Company’s assets and liabilities that are measured at fair value and their classification within the fair value hierarchy as of March 31, 2014 and December 31, 2013:
		(In thousands)
				Fair Value Measurements at March 31, 2014 Using
		March 31,
	Description	2014		(Level 1)		(Level 2)		(Level 3)
	Available for sale securities	$	45	$	45		--		--
	Total assets	$	45	$	45	$	--	$	--
	Commodity risk management liability	$	439	$	--	$	439	$	--
	Other accrued liabilities 1		718		--		--		718
	Total liabilities	$	1,157	$	--	$	439	$	718
		(In thousands)
				Fair Value Measurements at December 31, 2013 Using
		December 31,
	Description	2013		(Level 1)		(Level 2)		(Level 3)
	Commodity risk management assets	$	14	$	--	$	14	$	--
	Available for sale securities		69		69		--		--
	Total assets	$	83	$	69	$	14	$	--
	Commodity risk management liability	$	280	$	--	$	280	$	--
	Other accrued liabilities 1		741		--		--		741
	Total liabilities	$	1,021	$	--	$	280	$	741
	1 Other accrued liabilities represents the Company’s estimated liability for its executive retirement program.

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Shareholders' Equity [Abstract]	'
Changes in common stock	'
	The following table details the changes in common stock during the three months ended March 31, 2014:
	(Amounts in thousands, except for share amounts)
							Additional
		Common Stock					Paid-In
		Shares			Amount		Capital
	Balance January 1, 2014		27,735,878		$	277	$	123,510
	Exercise of employee stock options		22,264			1		(35	)
	Exercise of outside director options		7,372			--		8
	Expense of employee options vesting		--			--		43
	Expense of outside director options vesting		--			--		16
	Balance March 31, 2014		27,765,514		$	278	$	123,542
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 three months ended March 31, 2014:
		31-Mar-14
		Employee Stock Options					Director Stock Options
					Weighted					Weighted
					Average					Average
					Exercise					Exercise
		Options			Price		Options			Price
	Outstanding balance at December 31, 2013		2,500,949		$	3.6		146,000		$	2.93
	Granted		--		$	--		--		$	--
	Forfeited		--		$	--		--		$	--
	Expired		--		$	--		--		$	--
	Exercised		(62,684	)	$	2.45		(13,334	)	$	2.72
	Outstanding at March 31, 2014		2,438,265		$	3.63		132,666		$	2.96
	Exercisable at March 31, 2014		2,074,935		$	3.89		63,334		$	3.43
	Weighted Average Remaining Contractual Life - Years					3.84					7.83
	Aggregate intrinsic value of options outstanding ($ Thousands)				$	2,965				$	242

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Information [Abstract]	'
Summary of result of operations and total assets by segment	'
	As of March 31, 2014, we had two reportable segments: Oil and Gas and Maintenance of Mineral Properties.  A summary of results of operations for the three months ended March 31, 2014 and 2013, and total assets as of March 31, 2014 and December 31, 2013 by segment, are as follows:
		(In thousands)
		For the three months ended March 31,
		2014			2013
	Revenues:
	Oil and gas	$	8,256		$	7,879
	Total revenues		8,256			7,879
	Operating expenses:
	Oil and gas		5,266			12,088
	Mineral properties		757			644
	Total operating expenses		6,023			12,732
	Interest expense:
	Oil and gas		84			111
	Mineral properties		--			3
	Total interest expense		84			114
	Operating income (loss)
	Oil and gas	$	2,906		$	(4,320	)
	Mineral properties		(757	)		(647	)
	Operating income (loss)
	from identified segments		2,149			(4,967	)
	General and administrative expenses		(1,606	)		(1,272	)
	Add back interest expense		84			114
	Other revenues and expenses		(377	)		(5	)
	Income (loss) before income taxes
	and discontinued operations	$	250		$	(6,130	)
	Depreciation depletion and amortization expense:
	Oil and gas	$	3,294		$	3,641
	Mineral properties		31			32
	Corporate		37			125
	Total depreciation expense	$	3,362		$	3,798
		(In thousands)
		31-Mar			December 31,
		2014			2013
	Assets by segment
	Oil and gas	$	99,614		$	97,418
	Mineral		21,942			20,739
	Corporate		7,221			8,644
	Total assets	$	128,777		$	126,801

Basis_of_Presentation_Details

Basis of Presentation (Details)	Mar. 31, 2014
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			12 Months Ended
	Mar. 31, 2014		Mar. 31, 2013	Dec. 31, 2013		Jan. 21, 2014
	Center					acre
Oil & Gas properties [Abstract]	'		'	'		'
Unproved	$8,164,000		'	$7,478,000		'
Wells in progress	1,151,000		'	0		'
Proved	142,658,000		'	136,521,000		'
Oil & Gas properties	151,973,000		'	143,999,000		'
Less accumulated depreciation depletion and amortization	-60,370,000		'	-57,077,000		'
Net book value	91,603,000		'	86,922,000		'
Mineral properties	21,942,000		'	20,739,000		'
Building, land and equipment	8,334,000		'	8,334,000		'
Less accumulated depreciation	-4,204,000		'	-4,135,000		'
Net book value	4,130,000		'	4,199,000		'
Net properties and equipment	117,675,000		'	111,860,000		'
Oil and Gas Properties [Abstract]	'		'	'		'
Capitalized costs excluded from amortized cost pool	9,300,000		'	7,500,000		'
Capitalized costs related to unevaluated properties included in the amortization base	0		'	0		'
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)	98.3		'	'		'
Price for natural gas at ceiling test (dollars per MMbtu)	3.989		'	'		'
Proved property impairments	0		5,828,000	'		'
Mineral Properties [Abstract]	'		'	'		'
Costs associated with Mount Emmons beginning of year	20,739,000		20,739,000	20,739,000		'
Property purchase	1,203,000	[1]	'	0	[1]	'
Costs at the end of the period	$21,942,000		'	$20,739,000		'
Percentage interest acquired (in hundredths)	'		'	'		50.00%
Acres acquired, gross	'		'	'		160
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		'	'		'
[1]	On January 21, 2014, the Company acquired Thompson Creek Metalsb (bTCMb) 50% interest in 160 acres of fee land in the vicinity of the Mt. Emmons project mining claims for $1.2 million. The property was originally acquired jointly by the Company and TCM in January 2009.

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Reconciliation of the total liability for asset retirement obligations [Roll Forward]	'	'
Beginning asset retirement obligation	$812	$686
Accretion of discount	10	38
Liabilities incurred	76	131
Liabilities settled	0	-43
Ending asset retirement obligation	898	812
Mineral properties [Member]	'	'
Reconciliation of the total liability for asset retirement obligations [Roll Forward]	'	'
Ending asset retirement obligation	178	175
Oil & Gas wells [Member]	'	'
Reconciliation of the total liability for asset retirement obligations [Roll Forward]	'	'
Ending asset retirement obligation	$720	$637

Commodity_Price_Risk_Managemen2

Commodity Price Risk Management (Details) (USD $)

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Current Asset [Member]

Current Asset [Member]

Current Liability [Member]

Current Liability [Member]

Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]

Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]

Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]

Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]

Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]

Crude Oil Costless Collar 01/01/14 - 06/30/14 [Member]

Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]

Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]

Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]

Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]

Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]

Crude Oil Costless Collar 07/01/14 - 12/31/14 [Member]

Crude Oil Costless Collars [Member]

Crude Oil Costless Collars [Member]

Crude Oil Costless Collars [Member]

Crude Oil Costless Collars [Member]

bbl

Put Option [Member]

Call Option [Member]

bbl

Put Option [Member]

Call Option [Member]

bbl

Put Option [Member]

Call Option [Member]

bbl

Put Option [Member]

Call Option [Member]

Derivative [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Counterparty

'

'

'

'

'

'

'Wells Fargo

'

'

'Wells Fargo

'

'

'Wells Fargo

'

'

'Wells Fargo

'

'

Basis

'

'

'

'

'

'

'WTI

'

'

'WTI

'

'

'WTI

'

'

'WTI

'

'

Quantity (barrels per day)

'

'

'

'

'

'

300

'

'

300

'

'

300

'

'

300

'

'

Strike Price (in dollars per barrel)

'

'

'

'

'

'

'

90

95

'

90

97.25

'

90

98.4

'

90

97.4

Derivative Asset, Fair Value, Net [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets, Gross

'

'

$280

$345

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Asset, Gross amount offset in

'

'

-280

-331

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Asset, Net amount of assets

'

'

0

14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liability, Fair Value, Net [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liability, Gross

'

'

'

'

719

611

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liabilities, Gross amount offset in

'

'

'

'

-280

-331

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liability, Net amount of assets

'

'

'

'

439

280

'

'

'

'

'

'

'

'

'

'

'

'

Realized derivative gain (loss)

-158

14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized derivative gain (loss)

-173

-616

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total realized and unrealized derivative gain (loss)

($331)

($602)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
Fair Value Measurements [Abstract]	'		'
Fair value and carrying value of debt	$11,000,000		'
Fair Value Measurements [Abstract]	'		'
Commodity risk management assets	'		14,000
Available for sale securities	45,000		69,000
Total assets	45,000		83,000
Commodity risk management liability	439,000		280,000
Other accrued liabilities	718,000	[1]	741,000	[1]
Total	1,157,000		1,021,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'		'
Fair Value Measurements [Abstract]	'		'
Commodity risk management assets	'		0
Available for sale securities	45,000		69,000
Total assets	45,000		69,000
Commodity risk management liability	0		0
Other accrued liabilities	0	[1]	0	[1]
Total	0		0
Significant Other Observable Inputs (Level 2) [Member]	'		'
Fair Value Measurements [Abstract]	'		'
Commodity risk management assets	'		14,000
Available for sale securities	0		0
Total assets	0		14,000
Commodity risk management liability	439,000		280,000
Other accrued liabilities	0	[1]	0	[1]
Total	439,000		280,000
Significant Unobservable Inputs (Level 3) [Member]	'		'
Fair Value Measurements [Abstract]	'		'
Commodity risk management assets	'		0
Available for sale securities	0		0
Total assets	0		0
Commodity risk management liability	0		0
Other accrued liabilities	718,000	[1]	741,000	[1]
Total	$718,000		$741,000
[1]	Other accrued liabilities represents the Companybs estimated liability for its executive retirement program.

Debt_Details

Debt (Details) (Senior credit facility [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Senior credit facility [Member]	'
Debt [Abstract]	'
Borrowing capacity	$100
Borrowing base	25
Amount Outstanding	11
Additional amount outstanding	6
Line of Credit Facility, Amount Outstanding Including Changes	$17
Maturity term of senior credit facility	'6 months
Interest rate (in hundredths)	2.48%

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
			Employee Stock Options [Member]	Employee Stock Options [Member]	Director Stock Options [Member]	Director Stock Options [Member]	2001 Stock Compensation Plan [Member]	2001 Stock Compensation Plan [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'	'	'
Shares issued of common stock (in shares)	'	'	'	'	'	'	0	15,000	'	'
Changes in common stock [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Balance	$109,315,000	$109,057,000	'	'	'	'	'	'	$277,000	$123,510,000
Balance (in shares)	'	'	'	'	'	'	'	'	27,735,878	'
Exercise of employee stock options	'	'	'	'	'	'	'	'	1,000	-35,000
Exercise of employee stock options (in shares)	'	'	'	'	'	'	'	'	22,264	'
Exercise of outside director options	'	'	'	'	'	'	'	'	0	8,000
Exercise of outside director options (in shares)	'	'	'	'	'	'	'	'	7,372	'
Expense of employee options vesting	'	'	'	'	'	'	'	'	0	43,000
Expense of outside director options vesting	'	'	'	'	'	'	'	'	0	16,000
Balance	109,315,000	109,057,000	'	'	'	'	'	'	278,000	123,542,000
Balance (in shares)	'	'	'	'	'	'	'	'	27,765,514	'
Options [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Outstanding beginning balance (in shares)	'	'	2,500,949	'	146,000	'	'	'	'	'
Granted (in shares)	'	'	0	'	0	'	'	'	'	'
Forfeited (in shares)	'	'	0	'	0	'	'	'	'	'
Expired (in shares)	'	'	0	'	0	'	'	'	'	'
Exercised (in shares)	'	'	-62,684	'	-13,334	'	'	'	'	'
Outstanding ending balance (in shares)	'	'	2,438,265	'	132,666	'	'	'	'	'
Exercisable (in shares)	'	'	2,074,935	'	63,334	'	'	'	'	'
Weighted Average Exercise Price [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Beginning Balance (in dollars per share)	'	'	$3.60	'	$2.93	'	'	'	'	'
Granted (in dollars per share)	'	'	$0	'	$0	'	'	'	'	'
Forfeited (in dollars per share)	'	'	$0	'	$0	'	'	'	'	'
Expired (in dollars per share)	'	'	$0	'	$0	'	'	'	'	'
Exercised (in dollars per share)	'	'	$2.45	'	$2.72	'	'	'	'	'
Ending Balance (in dollars per share)	'	'	$3.63	'	$2.96	'	'	'	'	'
Exercisable (in dollars per share)	'	'	$3.89	'	$3.43	'	'	'	'	'
Weighted Average Remaining Contractual Life - Years	'	'	'3 years 10 months 2 days	'	'7 years 9 months 29 days	'	'	'	'	'
Aggregate intrinsic value of options outstanding	'	'	2,965,000	'	242,000	'	'	'	'	'
Share-based compensation expense	'	'	43,000	16,000	16,000	16,000	0	41,000	'	'
Total unrecognized expense for the option plan	'	'	327,000	'	74,000	'	'	'	'	'
Weighted average remaining vesting period	'	'	'2 years	'	'1 year 6 months 7 days	'	'	'	'	'
Intrinsic value of option exercised	'	'	$139,000	'	$28,000	'	'	'	'	'

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Segment
Segment Reporting Information [Line Items]	'	'	'
Number of reportable segments	2	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'
Total revenues	$8,256	$7,879	'
Total operating expenses	6,023	12,732	'
Total interest expense	84	114	'
Operating income (loss) from identified segments	627	-6,125	'
General and administrative expenses	-1,606	-1,272	'
Add back Interest expenses	84	114	'
Other revenues and expenses	-377	-5	'
Income (loss) before income taxes and discontinued operations	250	-6,130	'
Depreciation depletion and amortization expense [Abstract]	'	'	'
Total depreciation expense	3,362	3,798	'
Assets by segment [Abstract]	'	'	'
Total Assets	128,777	'	126,801
Oil and Gas [Member]	'	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'
Total revenues	8,256	7,879	'
Total operating expenses	5,266	12,088	'
Total interest expense	84	111	'
Operating income (loss) from identified segments	2,906	-4,320	'
Add back Interest expenses	84	111	'
Depreciation depletion and amortization expense [Abstract]	'	'	'
Total depreciation expense	3,294	3,641	'
Assets by segment [Abstract]	'	'	'
Total Assets	99,614	'	97,418
Mineral properties [Member]	'	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'
Total operating expenses	757	644	'
Total interest expense	0	3	'
Operating income (loss) from identified segments	-757	-647	'
Add back Interest expenses	0	3	'
Depreciation depletion and amortization expense [Abstract]	'	'	'
Total depreciation expense	31	32	'
Assets by segment [Abstract]	'	'	'
Total Assets	21,942	'	20,739
Corporate [Member]	'	'	'
Depreciation depletion and amortization expense [Abstract]	'	'	'
Total depreciation expense	37	125	'
Assets by segment [Abstract]	'	'	'
Total Assets	7,221	'	8,644
Reportable Segment [Member]	'	'	'
Segment Reporting Information, Results of operations [Abstract]	'	'	'
Operating income (loss) from identified segments	$2,149	($4,967)	'

Equity_Income_in_Unconsolidate1

Equity Income in Unconsolidated Investment (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Noncontrolling Interest [Line Items]	'	'	'
Equity gain (loss) from Standard Steam	$0	($25,000)	'
Standard Steam Trust LLC [Member]	'	'	'
Noncontrolling Interest [Line Items]	'	'	'
Ownership percentage (in hundredths)	19.54%	'	'
Impairment of equity investment	'	'	2,200,000
Equity gain (loss) from Standard Steam	$0	($25,000)	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	Jan. 21, 2014	7-May-14
In Millions, unless otherwise specified		Subsequent Event [Member]
		South Texas Based Oil and Gas Company [Member]
Subsequent Event [Line Items]	'	'
Percentage interest acquired (in hundredths)	50.00%	33.00%
Cost of acquisition	'	$3.90