U.S. Energy (USEG) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	US ENERGY CORP
Entity Central Index Key	101594
Current Fiscal Year End Date	-19
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		28,047,661
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$3,976	$4,010
Available for sale securities	25	25
Accounts receivable trade	1,404	3,177
Other current assets	227	288
Total current assets	5,632	7,500
Oil and gas properties under full cost method,
Proved oil and gas properties	133,227	147,486
Unproved oil and gas properties	9,200	10,188
Exploratory wells in progress	368	2,357
less depletion, depreciation and amortization	-74,636	-71,762
Net oil and gas properties	68,159	88,269
Undeveloped mining claims	21,942	21,942
Property, plant and equipment, net of accumulated depreciation of $4,441 and $4,404	3,879	3,942
Other assets	1,887	1,870
Total assets	101,499	123,523
Current liabilities:
Accounts payable	8,879	7,441
Accrued compensation	483	441
Commodity risk management liability	63	0
Other current liabilities	79	84
Total current liabilities	9,504	7,966
Noncurrent liabilities:
Long-term debt	6,000	6,000
Asset retirement obligations	1,178	1,133
Other accrued liabilities	1,010	1,029
Total noncurrent liabilities	8,188	8,162
Commitments and contingencies:
Shareholders' equity:
Common stock, $.01 par value; unlimited shares authorized; 28,388,372 issued and 28,047,661 outstanding at March 31,2015, 28,047,661 issued and outstanding at December 31, 2014	280	280
Additional paid-in capital	124,095	123,980
Accumulated deficit	-40,512	-16,809
Other comprehensive loss	-56	-56
Total shareholders' equity	83,807	107,395
Total liabilities and shareholders' equity	$101,499	$123,523

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Properties and equipment
Accumulated depreciation	$4,441	$4,404
Shareholders' equity:
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares issued (in shares)	28,388,372	28,047,661
Common stock, shares outstanding (in shares)	28,047,661	28,047,661

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Oil sales	$2,297	$7,574
Gas sales	331	481
NGL sales	51	201
Total Revenues	2,679	8,256
Operating expenses:
Oil and gas	1,852	1,972
Oil and gas depreciation, depletion and amortization	2,874	3,294
Impairment of oil and gas properties	19,240	0
Water treatment plant	458	457
Mineral holding costs	295	300
General and administrative	1,479	1,606
Total operating expenses	26,198	7,629
(Loss) income from operations	-23,519	627
Other income and (expenses):
Realized (loss) on risk management activities	-114	-158
Unrealized (loss) on risk management activities	-63	-173
Gain on the sale of assets	16	28
Miscellaneous income	39	21
Interest income	1	1
Interest expense	-63	-96
Total other income and (expenses)	-184	-377
(Loss) income before income taxes	-23,703	250
Income taxes:
Current (provision for)	0	0
Deferred benefit from	0	0
Total income taxes	0	0
Net (loss) income	($23,703)	$250
(Loss) Earnings per share basic and diluted
(Loss) earnings	($0.85)	$0.01
(Loss) Earnings per share basic and diluted (in dollars per share)	($0.85)	$0.01
Weighted average shares outstanding
Basic (in shares)	28,047,661	27,738,083
Diluted (in shares)	28,047,661	28,142,253

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]
Net (loss) income:	($23,703)	$250
Other comprehensive (loss):
Marketable securities, net of tax	0	-25
Total comprehensive (loss) income	($23,703)	$225

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net (loss) income:	($23,703)	$250
Adjustments to reconcile net (loss) income to net cash provided by operations
Depreciation, depletion & amortization	2,941	3,362
Change in fair value of commodity price risk management activities, net	63	173
Impairment of oil and gas properties	19,240	0
(Gain) on sale of assets	-16	-28
Noncash compensation	158	143
Noncash services	20	17
Accounts payable	567	270
Overpayment by operators	742	128
Net changes in assets and liabilities	1,809	54
Net cash provided by operating activities	1,821	4,369
Cash flows from investing activities:
Acquisition and development of oil and gas properties	-1,843	-8,495
Acquisition of property, plant and equipment	-4	-1,202
Proceeds from sale of property and equipment	16	28
Net change in restricted investments	-24	-16
Net cash (used in) investing activities:	-1,855	-9,685
Cash flows from financing activities:
Issuance of common stock	0	-27
Proceeds from new debt	0	2,000
Net cash provided by financing activities	0	1,973
Net (decrease) in cash and cash equivalents	-34	-3,343
Cash and cash equivalents at beginning of period	4,010	5,855
Cash and cash equivalents at end of period	3,976	2,512
Supplemental disclosures:
Interest paid	63	96
Non-cash investing and financing activities:
Unrealized change from available for sale securities	0	25
Acquisition and development of oil and gas properties through accounts payable	128	596
Acquisition and development of oil and gas properties through asset retirement obligations	$33	$76

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Basis of Presentation [Abstract]
Basis of Presentation	1)      Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements for the periods ended March 31, 2015 and March 31, 2014 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, 2015 and December 31, 2014 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, 2014 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 under 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, 2014 (the "2014 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, 2015
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 determines GAAP, which 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 2014 10-K (Note B, pages 87 to 96).
	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, accrued revenue and related receivables, valuation of commodity derivative instruments and the cost of future asset retirement obligations.  The Company evaluates its estimates on an on-going basis and bases its estimates on historical experience and on various other assumptions the Company believes to be reasonable under the circumstances.  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.
	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, 2015 and December 31, 2014 which were not included in the amortized cost pool were $9.6 million and $12.5 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, 2015 or December 31, 2014.
	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 2015.  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, 2015, we used prices of $82.72 per barrel for oil and $3.882 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%.
	Primarily due to the lower oil prices, the Company recorded a proved property impairment of $19.2 million related to its oil and gas assets during the three months ended March 31, 2015.  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.  Recent declines in the price of oil have significantly increased the risk of ceiling test write-downs in future periods.
	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 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, 2015 and December 31, 2014 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, 2015 and December 31, 2014 is as follows:
		(In thousands)
		March 31,			December 31,
		2015			2014
	Costs associated with Mount Emmons
	beginning of year	$	21,942		$	20,739
	Property purchase (1)		--			1,203
	Costs at the end of the period	$	21,942		$	21,942
	(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.
	Properties and Equipment
	Components of Property, Plant and Equipment as of March 31, 2015 and December 31, 2014 are as follows:
		(In thousands)
		March 31,			December 31,
		2015			2014
	Property, plant and equipment	$	8,320		$	8,346
	Less accumulated depreciation		(4,441	)		(4,404	)
	Net book value	$	3,879		$	3,942
	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.
	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 from time to time.
	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, 2015 were not significant.
	Recent Accounting Pronouncements
	In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03").  The objective of ASU 2015-03 is to simplify the presentation of debt issuance costs in financial statements by presenting such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset.  ASU 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and should be applied retrospectively.  Early adoption is permitted.  The adoption of this standard will not have an impact on the Company's consolidated financial statements, other than balance sheet reclassifications.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern ("ASU 2014-15").  The objective of ASU 2014-15 is to provide guidance on management's responsibility to evaluate whether there is substantial doubt about a company's ability to continue as a going concern and to provide related footnote disclosures.  ASU 2014-15 is effective for fiscal years ending after December 15, 2016, and annual and interim periods thereafter.  The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company's financial statements and disclosures.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014‑09").  The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards.  ASU 2014‑09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016.  The Company is currently evaluating the impact of adopting ASU 2014‑09, but the standard is not expected to have a significant effect on its consolidated financial statements.
	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, 2015.

Asset_Retirement_Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2015
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,
		2015		2014
	Beginning asset retirement obligation	$	1,133	$	812
	Accretion of discount		12		40
	Liabilities incurred		33		310
	Liabilities settled		--		(29	)
	Ending asset retirement obligation	$	1,178	$	1,133
	Mineral properties	$	192	$	187
	Oil and Gas wells		986		946
	Ending asset retirement obligation	$	1,178	$	1,133

Commodity_Price_Risk_Managemen

Commodity Price Risk Management	3 Months Ended
	Mar. 31, 2015
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 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 held with a single counterparty.  The Company has a netting arrangement with the counterparty that provides 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 realized (loss) gain on risk management activities line on the condensed consolidated statement of income.
	Energy One's commodity derivative contracts as of March 31, 2015 are summarized below:
						Quantity
	Settlement Period	Counterparty		Basis		(Bbls/day)			Strike Price
	Crude Oil Put
	02/01/15 - 04/30/15	Wells Fargo		WTI			500		Put:		$	46
	Crude Oil Costless Collar
	05/01/15 - 12/31/15	Wells Fargo		WTI			500		Put:		$	45
									Call:		$	58.79
	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, 2015
				(In thousands)
	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		$	287			$	(287	)		$	--
	Crude oil derivative contract	Current liabilities		$	350			$	(287	)		$	63
	The following table summarizes the unrealized and realized gains and losses presented in the accompanying statements of operations:
		(In thousands)
		Three months ended March 31,
		2015				2014
	Realized derivative (loss)	$	(114	)		$	(158	)
	Unrealized derivative (loss)	$	(63	)		$	(173	)
	Total realized and unrealized derivative (loss)	$	(177	)		$	(331	)

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
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, 2015 and December 31, 2014:
			(In thousands)
					Fair Value Measurements at March 31, 2015 Using
	Description		31-Mar-15		(Level 1)		(Level 2)		(Level 3)
	Available for sale securities		$	25	$	25	$	--	$	--
	Total assets		$	25	$	25	$	--	$	--
	Commodity risk management liability		$	63	$	--	$	63	$	--
	Executive retirement program liability			1,245	$	--	$	--	$	1,245
	Total liabilities		$	1,308	$	--	$	63	$	1,245
					Fair Value Measurements at December 31, 2014 Using
	Description			31-Dec-14	(Level 1)		(Level 2)		(Level 3)
	Available for sale securities		$	25	$	25	$	--	$	--
	Total assets		$	25	$	25	$	--	$	--
	Executive retirement program liability		$	1,309	$	--	$	--	$	1,309
	Total liabilities		$	1,309	$	--	$	--	$	1,309
	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 likelihood that 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, 2015 and December 31, 2014, derivative instruments utilized by the Company consist of "puts" and "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 $6.0 million as of March 31, 2015.

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt [Abstract]
Debt	6)      Debt
	Revolving Credit Facility
	Energy One, a wholly-owned subsidiary the Company, has in place a credit facility with Wells Fargo Bank, National Association.  As of March 31, 2015, the maximum credit available under the credit facility was $100.0 million and the borrowing base under the facility was $24.5 million.  Effective April 15, 2015, the borrowing base under Energy One LLC's credit facility with Wells Fargo Bank, National Association was decreased from $24.5 million to $7.5 million.
	As of March 31, 2015, the Company had $6.0 million in outstanding borrowings under the credit facility.  Borrowings under the credit facility are collateralized by 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 2.68% at March 31, 2015.  As of March 31, 2015, Energy One was in compliance with all the covenants under the credit facility.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2015
Shareholders' Equity [Abstract]
Shareholders' Equity	7)      Shareholders' Equity
	Common Stock
	The following table details the changes in common stock during the three months ended March 31, 2015:
	(Amounts in thousands, except for share amounts)
						Additional
		Common Stock				Paid-In
		Shares		Amount		Capital
	Balance January 1, 2015		28,047,661	$	280	$	123,980
	Issuance of restricted stock		340,711		--		--
	Stock-based compensation		--		--		115
	Balance March 31, 2015		28,388,372	$	280	$	124,095
	Restricted Stock
	The Company grants shares of restricted stock as part of its equity compensation program. Shares of restricted stock are valued at the closing price of the Company's common stock on the grant date and are recognized as general and administrative expense over the vesting period of the award.
	During the three months ended March 31, 2015, the Company granted 340,711 shares of restricted stock under the 2012 Equity and Performance Incentive Plan (the "2012 Equity Plan") to certain employees.  The restricted shares vest in equal tranches over three years and had a fair value at issuance of $1.50 per share, which is equal to the closing price of the Company's stock on the date of grant.  Total expense recorded for restricted stock for the three months ended March 31, 2015 and 2014 was $41,000 and $0, respectively. As of March 31, 2015, there was $470,000 of total unrecognized compensation expense related to unvested restricted stock awards, which will be amortized through 2017.
	A summary of the status and activity of non-vested restricted stock for the three-month period ended March 31, 2015 is presented in the following table:
		Restricted Shares		Weighted Average Grant-Date Fair Value
	Non-vested at beginning of year		--	$	--
	Granted		340,711	$	1.5
	Non-vested at end of quarter		340,711	$	1.5
	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, 2015:
		Employee Stock Options				Director Stock Options
				Weighted				Weighted
				Average				Average
				Exercise				Exercise
		Options		Price		Options		Price
	Outstanding balance at December 31, 2014		2,097,413	$	3.82		178,666	$	3.28
	Granted		340,711	$	1.5		--	$	--
	Forfeited		--	$	--		--	$	--
	Expired		--	$	--		--	$	--
	Exercised		--	$	--		--	$	--
	Outstanding at March 31, 2015		2,438,124	$	3.5		178,666	$	3.28
	Exercisable at March 31, 2015		1,949,080	$	3.95		97,333	$	3.23
	Weighted Average Remaining Contractual Life - Years				4.26				7.64
	Aggregate intrinsic value of options outstanding ($ Thousands)			$	--			$	--
	Employee Stock Options.  During the three months ended March 31, 2015, we issued 340,711 options to certain employees under the 2012 Equity Plan.  The options were issued at the closing price of $1.50 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 1.765%, expected life of six years and expected volatility of 63.3585%.  During the three months ended March 31, 2015 and 2014, we recorded $54,000 and $43,000, respectively, in compensation expense for employee stock options.  As of March 31, 2015, there was $369,000 of total unrecognized compensation cost related to employee stock options, which is expected to be amortized over a weighted average period of 2.33 years.
	Director Stock Options.  During the three months ended March 31, 2015 and 2014, we recorded $20,000 and $16,000, respectively, in expense for options issued to non-employee directors.  As of March 31, 2015, there was $126,000 of total unrecognized compensation cost related to director stock options, which is expected to be amortized over a weighted average period of 2.30 years.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
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 bases 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, and revision of the numerous estimates required, and may change significantly in the event of occurrences such as major acquisitions, divestitures, commodity 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 2015 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, 2015, 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, 2015
Segment Information [Abstract]
Segment Information	9)      Segment Information
	As of March 31, 2015, 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, 2015 and 2014, and total assets as of March 31, 2015 and December 31, 2014 by segment, are as follows:
		(In thousands)
		For the three months ended March 31,
		2015			2014
	Revenues:
	Oil and gas	$	2,679		$	8,256
	Total revenues		2,679			8,256
	Operating expenses:
	Oil and gas		23,966			5,266
	Mineral properties		753			757
	Total operating expenses		24,719			6,023
	Interest expense:
	Oil and gas		89			84
	Mineral properties		--			--
	Total interest expense		89			84
	Operating income (loss)
	Oil and gas	$	(21,376	)	$	2,906
	Mineral properties		(753	)		(757	)
	Operating income (loss)
	from identified segments		(22,129	)		2,149
	General and administrative expenses		(1,479	)		(1,606	)
	Add back interest expense		89			84
	Other revenues and expenses		(184	)		(377	)
	Income (loss) before income taxes	$	(23,703	)	$	250
	Depreciation depletion and amortization expense:
	Oil and gas	$	2,874		$	3,294
	Mineral properties		31			31
	Corporate		36			37
	Total depreciation depletion
	amortization expense	$	2,941		$	3,362
		(In thousands)
		March 31,			December 31,
		2015			2014
	Assets by segment
	Oil and gas	$	73,001		$	92,020
	Mineral		21,945			21,942
	Corporate		6,553			9,561
	Total assets	$	101,499		$	123,523

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	10)      Earnings Per Share
	Basic net income per common share is calculated by dividing net income available to common stockholders by the basic weighted-average common shares outstanding for the relevant period.  The Company's earnings per share calculations reflect the impact of any repurchases of shares of common stock made by the Company.  Diluted net income per common share is calculated by dividing adjusted net income by the diluted weighted-average common shares outstanding, which includes the effect of potentially dilutive securities.  Potentially dilutive securities for this calculation consist of in-the-money outstanding stock options (which were assumed to have been exercised at the average market price of the common shares during the reporting period) and unvested restricted stock. The treasury stock method is used to measure the dilutive impact of unvested restricted stock and in-the-money stock options.
	The following table sets forth the calculations of basic and diluted earnings per share (in thousands except share amounts and per share data):
		(In thousands except share amounts, and per share data)
		Three months ended March 31,
		2015			2014
	Net income (loss)	$	(23,703	)	$	250
	Basic weighted-average common shares outstanding		28,047,661			27,738,083
	Add:  dilutive effect of stock options		--			404,170
	Add:  dilutive effect of unvested restricted stock		--			--
	Diluted weighted-average common shares outstanding		28,047,661			28,142,253
	Basic net (loss) income per share	$	(0.85	)	$	0.01
	Diluted net (loss) income per share	$	(0.85	)	$	0.01
	The following options and unvested restricted stock, which could be potentially dilutive in future periods, were not included in the computation of diluted net loss per share because the effect would have been anti-dilutive for the periods indicated:
		Three months ended March 31,
		2015		2014
	Weighted-average anti-dilutive stock options	2,616,790		1,055,000
	Weighted-average anti-dilutive restricted stock awards	336,925		--
		2,953,715		1,055,000

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	11)            Commitments and Contingencies
	Legal Proceedings
	From time to time, we are party to certain legal actions and claims arising in the ordinary course of business. While the outcome of these events cannot be predicted with certainty, management does not expect these matters to have a materially adverse effect on our financial position or results of operations.  Following are currently pending legal matters:
	Water Rights Litigation –Mt. Emmons Project
	On July 25, 2008, we filed an Application for Finding of Reasonable Diligence with the Colorado Water Court ("Water Diligence Application") concerning the conditional water rights associated with the Mt. Emmons Project (Case No. 2008CW81).  The conditional water decree ("Decree") required the Company to file its proposed plan of operations and associated permits with the Forest Service and BLM within six years of entry of the Decree, or within six years of the final determination of the pending patent application, whichever occurred later.  The BLM issued the mineral patents on April 2, 2004.  Although the issuance of the patents was appealed, on April 30, 2007, the United States Supreme Court made a final determination (by denial of certiorari) upholding BLM's issuance of the mineral patents.  The Company filed a plan of operations on March 31, 2010.  On April 20, 2015, the Colorado Water Court entered a decree granting the Water Diligence Application.  The decree continues the conditional water rights for a six-year period and requires the Company to submit a new Application for Finding of Reasonable Diligence in April 2021 if the water rights have not been applied to a beneficial use by that time.
	Quiet Title Action – Dimmit County, TX
	On October 4, 2013 Dimmit Wood Properties, Ltd. ("Dimmit") filed a quiet title, breach of contract, and trespass action against Chesapeake Exploration, LLC ("Chesapeake"), Crimson Exploration Operating, Inc. ("Crimson"), EXCO Operating Company, LP, OOGC America, Inc., Energy One and Liberty Energy, LLC ("Liberty") (jointly referred to as "Defendants") concerning an 800.77 gross acre oil and gas lease ("Lease") located in Dimmit County, Texas.  Crimson, Energy One and Liberty received an assignment from Chesapeake of the Lease, in which Energy One has a 30% working interest.  Dimmit alleged that the Lease terminated due to the failure to achieve production in paying quantities and for having non-existent production for allegedly significan time periods.  On October 28, 2013, the Defendants filed an answer, asserting that production in paying quantities was achieved in the primary term of the Lease with an existing producing well and that the Lease has remained in good standing and had not terminated.  The Defendants also filed Counterclaims against Dimmit, including but not limited to breach of contract as well as a third-party action against Sage Energy Company, alleging tortious interference with the lease.  On April 27, 2015, the Company, Crimson and Liberty agreed to settle the action.  According to the settlement, the Company will receive a cash payment in exchange for releasing its interest in the subject lease.  The settlement agreement does not affect a similar case involving Dr. Darrell Willerson, Sue Willerson and Willerson Energy Partners, L.P.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	12)            Subsequent Events
	Effective April 15, 2015, the borrowing base under Energy One LLC's credit facility with Wells Fargo Bank, National Association was decreased from $24.5 million to $7.5 million.  The redetermination was based on reserves and production forecasts as of December 31, 2014, taking into account current oil and natural gas price forecasts.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
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, accrued revenue and related receivables, valuation of commodity derivative instruments and the cost of future asset retirement obligations.  The Company evaluates its estimates on an on-going basis and bases its estimates on historical experience and on various other assumptions the Company believes to be reasonable under the circumstances.  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.
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, 2015 and December 31, 2014 which were not included in the amortized cost pool were $9.6 million and $12.5 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, 2015 or December 31, 2014.
	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 2015.  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, 2015, we used prices of $82.72 per barrel for oil and $3.882 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%.
	Primarily due to the lower oil prices, the Company recorded a proved property impairment of $19.2 million related to its oil and gas assets during the three months ended March 31, 2015.  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.  Recent declines in the price of oil have significantly increased the risk of ceiling test write-downs in future periods.
	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 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, 2015 and December 31, 2014 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, 2015 and December 31, 2014 is as follows:
		(In thousands)
		March 31,			December 31,
		2015			2014
	Costs associated with Mount Emmons
	beginning of year	$	21,942		$	20,739
	Property purchase (1)		--			1,203
	Costs at the end of the period	$	21,942		$	21,942
	(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.
Properties and Equipment	Properties and Equipment
	Components of Property, Plant and Equipment as of March 31, 2015 and December 31, 2014 are as follows:
		(In thousands)
		March 31,			December 31,
		2015			2014
	Property, plant and equipment	$	8,320		$	8,346
	Less accumulated depreciation		(4,441	)		(4,404	)
	Net book value	$	3,879		$	3,942
	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.
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 from time to time.
	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, 2015 were not significant.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03").  The objective of ASU 2015-03 is to simplify the presentation of debt issuance costs in financial statements by presenting such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset.  ASU 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and should be applied retrospectively.  Early adoption is permitted.  The adoption of this standard will not have an impact on the Company's consolidated financial statements, other than balance sheet reclassifications.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern ("ASU 2014-15").  The objective of ASU 2014-15 is to provide guidance on management's responsibility to evaluate whether there is substantial doubt about a company's ability to continue as a going concern and to provide related footnote disclosures.  ASU 2014-15 is effective for fiscal years ending after December 15, 2016, and annual and interim periods thereafter.  The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company's financial statements and disclosures.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014‑09").  The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards.  ASU 2014‑09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016.  The Company is currently evaluating the impact of adopting ASU 2014‑09, but the standard is not expected to have a significant effect on its consolidated financial statements.
	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, 2015.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Mineral properties	Our carrying balance in the Mt. Emmons property at March 31, 2015 and December 31, 2014 is as follows:
		(In thousands)
		March 31,			December 31,
		2015			2014
	Costs associated with Mount Emmons
	beginning of year	$	21,942		$	20,739
	Property purchase (1)		--			1,203
	Costs at the end of the period	$	21,942		$	21,942
	(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.
Components of property and equipment	Components of Property, Plant and Equipment as of March 31, 2015 and December 31, 2014 are as follows:
		(In thousands)
		March 31,			December 31,
		2015			2014
	Property, plant and equipment	$	8,320		$	8,346
	Less accumulated depreciation		(4,441	)		(4,404	)
	Net book value	$	3,879		$	3,942

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2015
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,
		2015		2014
	Beginning asset retirement obligation	$	1,133	$	812
	Accretion of discount		12		40
	Liabilities incurred		33		310
	Liabilities settled		--		(29	)
	Ending asset retirement obligation	$	1,178	$	1,133
	Mineral properties	$	192	$	187
	Oil and Gas wells		986		946
	Ending asset retirement obligation	$	1,178	$	1,133

Commodity_Price_Risk_Managemen1

Commodity Price Risk Management (Tables)	3 Months Ended
	Mar. 31, 2015
Commodity Price Risk Management [Abstract]
Commodity derivative contracts	Energy One's commodity derivative contracts as of March 31, 2015 are summarized below:
						Quantity
	Settlement Period	Counterparty		Basis		(Bbls/day)			Strike Price
	Crude Oil Put
	02/01/15 - 04/30/15	Wells Fargo		WTI			500		Put:		$	46
	Crude Oil Costless Collar
	05/01/15 - 12/31/15	Wells Fargo		WTI			500		Put:		$	45
									Call:		$	58.79
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, 2015
				(In thousands)
	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		$	287			$	(287	)		$	--
	Crude oil derivative contract	Current liabilities		$	350			$	(287	)		$	63
Schedule of unrealized and realized derivative gain and loss	The following table summarizes the unrealized and realized gains and losses presented in the accompanying statements of operations:
		(In thousands)
		Three months ended March 31,
		2015				2014
	Realized derivative (loss)	$	(114	)		$	(158	)
	Unrealized derivative (loss)	$	(63	)		$	(173	)
	Total realized and unrealized derivative (loss)	$	(177	)		$	(331	)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
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, 2015 and December 31, 2014:
		(In thousands)
				Fair Value Measurements at March 31, 2015 Using
	Description	31-Mar-15		(Level 1)		(Level 2)		(Level 3)
	Available for sale securities	$	25	$	25	$	--	$	--
	Total assets	$	25	$	25	$	--	$	--
	Commodity risk management liability	$	63	$	--	$	63	$	--
	Executive retirement program liability		1,245	$	--	$	--	$	1,245
	Total liabilities	$	1,308	$	--	$	63	$	1,245
				Fair Value Measurements at December 31, 2014 Using
	Description		31-Dec-14	(Level 1)		(Level 2)		(Level 3)
	Available for sale securities	$	25	$	25	$	--	$	--
	Total assets	$	25	$	25	$	--	$	--
	Executive retirement program liability	$	1,309	$	--	$	--	$	1,309
	Total liabilities	$	1,309	$	--	$	--	$	1,309

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2015
Shareholders' Equity [Abstract]
Changes in common stock	The following table details the changes in common stock during the three months ended March 31, 2015:
	(Amounts in thousands, except for share amounts)
						Additional
		Common Stock				Paid-In
		Shares		Amount		Capital
	Balance January 1, 2015		28,047,661	$	280	$	123,980
	Issuance of restricted stock		340,711		--		--
	Stock-based compensation		--		--		115
	Balance March 31, 2015		28,388,372	$	280	$	124,095
Summary of non-vested restricted stock activity	A summary of the status and activity of non-vested restricted stock for the three-month period ended March 31, 2015 is presented in the following table:
		Restricted Shares		Weighted Average Grant-Date Fair Value
	Non-vested at beginning of year		--	$	--
	Granted		340,711	$	1.5
	Non-vested at end of quarter		340,711	$	1.5
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, 2015:
		Employee Stock Options				Director Stock Options
				Weighted				Weighted
				Average				Average
				Exercise				Exercise
		Options		Price		Options		Price
	Outstanding balance at December 31, 2014		2,097,413	$	3.82		178,666	$	3.28
	Granted		340,711	$	1.5		--	$	--
	Forfeited		--	$	--		--	$	--
	Expired		--	$	--		--	$	--
	Exercised		--	$	--		--	$	--
	Outstanding at March 31, 2015		2,438,124	$	3.5		178,666	$	3.28
	Exercisable at March 31, 2015		1,949,080	$	3.95		97,333	$	3.23
	Weighted Average Remaining Contractual Life - Years				4.26				7.64
	Aggregate intrinsic value of options outstanding ($ Thousands)			$	--			$	--

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Summary of result of operations and total assets by segment	As of March 31, 2015, 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, 2015 and 2014, and total assets as of March 31, 2015 and December 31, 2014 by segment, are as follows:
		(In thousands)
		For the three months ended March 31,
		2015			2014
	Revenues:
	Oil and gas	$	2,679		$	8,256
	Total revenues		2,679			8,256
	Operating expenses:
	Oil and gas		23,966			5,266
	Mineral properties		753			757
	Total operating expenses		24,719			6,023
	Interest expense:
	Oil and gas		89			84
	Mineral properties		--			--
	Total interest expense		89			84
	Operating income (loss)
	Oil and gas	$	(21,376	)	$	2,906
	Mineral properties		(753	)		(757	)
	Operating income (loss)
	from identified segments		(22,129	)		2,149
	General and administrative expenses		(1,479	)		(1,606	)
	Add back interest expense		89			84
	Other revenues and expenses		(184	)		(377	)
	Income (loss) before income taxes	$	(23,703	)	$	250
	Depreciation depletion and amortization expense:
	Oil and gas	$	2,874		$	3,294
	Mineral properties		31			31
	Corporate		36			37
	Total depreciation depletion
	amortization expense	$	2,941		$	3,362
		(In thousands)
		March 31,			December 31,
		2015			2014
	Assets by segment
	Oil and gas	$	73,001		$	92,020
	Mineral		21,945			21,942
	Corporate		6,553			9,561
	Total assets	$	101,499		$	123,523

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Summary of basic and diluted earnings per share	The following table sets forth the calculations of basic and diluted earnings per share (in thousands except share amounts and per share data):
		(In thousands except share amounts, and per share data)
		Three months ended March 31,
		2015			2014
	Net income (loss)	$	(23,703	)	$	250
	Basic weighted-average common shares outstanding		28,047,661			27,738,083
	Add:  dilutive effect of stock options		--			404,170
	Add:  dilutive effect of unvested restricted stock		--			--
	Diluted weighted-average common shares outstanding		28,047,661			28,142,253
	Basic net (loss) income per share	$	(0.85	)	$	0.01
	Diluted net (loss) income per share	$	(0.85	)	$	0.01
Schedule of anti-dilutive securities	The following options and unvested restricted stock, which could be potentially dilutive in future periods, were not included in the computation of diluted net loss per share because the effect would have been anti-dilutive for the periods indicated:
		Three months ended March 31,
		2015		2014
	Weighted-average anti-dilutive stock options	2,616,790		1,055,000
	Weighted-average anti-dilutive restricted stock awards	336,925		--
		2,953,715		1,055,000

Basis_of_Presentation_Details

Basis of Presentation (Details)	Mar. 31, 2015
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, 2015		Mar. 31, 2014	Dec. 31, 2014		Jan. 21, 2014
	Center					acre
Properties and Equipment [Abstract]
Property, plant and equipment	$8,320,000			$8,346,000
Less accumulated depreciation	-4,441,000			-4,404,000
Net book value	3,879,000			3,942,000
Oil and Gas Properties [Abstract]
Capitalized costs excluded from amortized cost pool	9,600,000			12,500,000
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	82.72
Price for natural gas at ceiling test	3.882
Proved property impairments	19,240,000		0
Mineral Properties [Abstract]
Costs associated with Mount Emmons beginning of year	21,942,000		20,739,000	20,739,000
Property purchase	0	[1]		1,203,000	[1]
Costs at the end of the period	$21,942,000			$21,942,000
Percentage interest acquired (in hundredths)						50.00%
Acres acquired						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 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_D

Asset Retirement Obligations (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Reconciliation of the total liability for asset retirement obligations [Roll Forward]
Beginning asset retirement obligation	$1,133	$812
Accretion of discount	12	40
Liabilities incurred	33	310
Liabilities settled	0	-29
Ending asset retirement obligation	1,178	1,133
Mineral properties [Member]
Reconciliation of the total liability for asset retirement obligations [Roll Forward]
Ending asset retirement obligation	192	187
Oil and Gas wells [Member]
Reconciliation of the total liability for asset retirement obligations [Roll Forward]
Ending asset retirement obligation	$986	$946

Commodity_Price_Risk_Managemen2

Commodity Price Risk Management (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative Liability, Fair Value, Net [Abstract]
Realized derivative (loss)	($114)	($158)
Unrealized derivative (loss)	-63	-173
Total realized and unrealized derivative (loss)	-177	-331
Current Asset [Member] | Crude Oil Derivative Contract [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Assets, Gross	287
Derivative Asset, Gross amount offset in	-287
Derivative Asset, Net amount of assets	0
Current Liability [Member] | Crude Oil Derivative Contract [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Liability, Gross	350
Derivative Liabilities, Gross amount offset in	-287
Derivative Liability, Net amount of assets	$63
Crude Oil Put 02/01/15 - 04/30/15 [Member]
Derivative [Line Items]
Counterparty	Wells Fargo
Basis	WTI
Quantity (barrels per day)	500
Crude Oil Put 02/01/15 - 04/30/15 [Member] | Put Option [Member]
Derivative [Line Items]
Strike Price (in dollars per barrel)	46
Crude Oil Costless Collar 05/01/15 - 12/31/15 [Member]
Derivative [Line Items]
Counterparty	Wells Fargo
Basis	WTI
Quantity (barrels per day)	500
Crude Oil Costless Collar 05/01/15 - 12/31/15 [Member] | Put Option [Member]
Derivative [Line Items]
Strike Price (in dollars per barrel)	45
Crude Oil Costless Collar 05/01/15 - 12/31/15 [Member] | Call Option [Member]
Derivative [Line Items]
Strike Price (in dollars per barrel)	58.79

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Fair Value Measurements [Abstract]
Fair value and carrying value of debt	$6,000,000
Fair Value Measurements [Abstract]
Available for sale securities	25,000	25,000
Total assets	25,000	25,000
Commodity risk management liability	63,000
Executive retirement program liability	1,245,000	1,309,000
Total liabilities	1,308,000	1,309,000
(Level 1) [Member]
Fair Value Measurements [Abstract]
Available for sale securities	25,000	25,000
Total assets	25,000	25,000
Commodity risk management liability	0
Executive retirement program liability	0	0
Total liabilities	0	0
(Level 2) [Member]
Fair Value Measurements [Abstract]
Available for sale securities	0	0
Total assets	0	0
Commodity risk management liability	63,000
Executive retirement program liability	0	0
Total liabilities	63,000	0
(Level 3) [Member]
Fair Value Measurements [Abstract]
Available for sale securities	0	0
Total assets	0	0
Commodity risk management liability	0
Executive retirement program liability	1,245,000	1,309,000
Total liabilities	$1,245,000	$1,309,000

Debt_Details

Debt (Details) (Revolving credit facility [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Apr. 15, 2015
Debt [Abstract]
Maximum borrowing capacity	$100
Amount Outstanding	6
Borrowing base	24.5
Borrowing term under credit facility agreement	6 months
Interest rate (in hundredths)	2.68%
Subsequent Event [Member]
Debt [Abstract]
Borrowing base		$7.50

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Changes in common stock [Roll Forward]
Balance			$107,395,000
Balance (in shares)			28,047,661
Balance	83,807,000		107,395,000
Balance (in shares)	28,047,661		28,047,661
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued (in shares)	$1.50
Nonvested restricted stock, Share [Roll Forward]
Balance (in shares)	0
Granted (in shares)	340,711
Balance (in shares)	340,711
Nonvested restricted stock, Weighted average grant-date fair value [Abstract]
Balance (in dollars per share)	$0
Granted (in dollars per share)	$1.50
Balance (in dollars per share)	$1.50
Weighted Average Exercise Price [Roll Forward]
Share-based compensation expense	41,000	0
Total unrecognized expense for the option plan	470,000
Employee Stock Options [Member]
Options [Roll Forward]
Outstanding beginning balance (in shares)	2,097,413
Granted (in shares)	340,711
Forfeited (in shares)	0
Expired (in shares)	0
Exercised (in shares)	0
Outstanding ending balance (in shares)	2,438,124
Exercisable (in shares)	1,949,080
Weighted Average Exercise Price [Roll Forward]
Beginning Balance (in dollars per share)	$3.82
Granted (in dollars per share)	$1.50
Forfeited (in dollars per share)	$0
Expired (in dollars per share)	$0
Exercised (in dollars per share)	$0
Ending Balance (in dollars per share)	$3.50
Exercisable (in dollars per share)	$3.95
Weighted Average Remaining Contractual Life - Years	4 years 3 months 4 days
Aggregate intrinsic value of options outstanding	0
Vesting period	3 years
Expiration period	10 years
Risk free interest rate (in hundredths)	1.77%
Expected life	6 years
Expected volatility (in hundredths)	63.36%
Share-based compensation expense	54,000	43,000
Total unrecognized expense for the option plan	369,000
Weighted average remaining vesting period	2 years 3 months 29 days
Director Stock Options [Member]
Options [Roll Forward]
Outstanding beginning balance (in shares)	178,666
Granted (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Exercised (in shares)	0
Outstanding ending balance (in shares)	178,666
Exercisable (in shares)	97,333
Weighted Average Exercise Price [Roll Forward]
Beginning Balance (in dollars per share)	$3.28
Granted (in dollars per share)	$0
Forfeited (in dollars per share)	$0
Expired (in dollars per share)	$0
Exercised (in dollars per share)	$0
Ending Balance (in dollars per share)	$3.28
Exercisable (in dollars per share)	$3.23
Weighted Average Remaining Contractual Life - Years	7 years 7 months 20 days
Aggregate intrinsic value of options outstanding	0
Share-based compensation expense	20,000	16,000
Total unrecognized expense for the option plan	126,000
Weighted average remaining vesting period	2 years 3 months 18 days
Common Stock [Member]
Changes in common stock [Roll Forward]
Balance	280,000
Balance (in shares)	28,047,661
Issuance of restricted stock	0
Issuance of restricted stock (in shares)	340,711
Stock-based compensation	0
Stock-based compensation (in shares)	0
Balance	280,000
Balance (in shares)	28,388,372
Additional Paid-In Capital [Member]
Changes in common stock [Roll Forward]
Balance	123,980,000
Issuance of restricted stock	0
Stock-based compensation	115,000
Balance	$124,095,000

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Segment
Segment Reporting Information [Line Items]
Number of reportable segments	2
Segment Reporting Information, Results of operations [Abstract]
Total interest expense	$89	$84
Operating income (loss) from identified segments	-23,519	627
General and administrative expenses	-1,479	-1,606
Add back Interest expenses	89	84
Other revenues and expenses	-184	-377
Income (loss) before income taxes	-23,703	250
Depreciation depletion and amortization expense [Abstract]
Total depreciation depletion amortization expense	2,941	3,362
Assets by segment [Abstract]
Total Assets	101,499		123,523
Reportable Segment [Member]
Segment Reporting Information, Results of operations [Abstract]
Total revenues	2,679	8,256
Total operating expenses	24,719	6,023
Total interest expense	89	84
Operating income (loss) from identified segments	-22,129	2,149
Add back Interest expenses	89	84
Reportable Segment [Member] | Oil and gas [Member]
Segment Reporting Information, Results of operations [Abstract]
Total revenues	2,679	8,256
Total operating expenses	23,966	5,266
Total interest expense	89	84
Operating income (loss) from identified segments	-21,376	2,906
Add back Interest expenses	89	84
Depreciation depletion and amortization expense [Abstract]
Total depreciation depletion amortization expense	2,874	3,294
Assets by segment [Abstract]
Total Assets	73,001		92,020
Reportable Segment [Member] | Mineral properties [Member]
Segment Reporting Information, Results of operations [Abstract]
Total operating expenses	753	757
Total interest expense	0	0
Operating income (loss) from identified segments	-753	-757
Add back Interest expenses	0	0
Depreciation depletion and amortization expense [Abstract]
Total depreciation depletion amortization expense	31	31
Assets by segment [Abstract]
Total Assets	21,945		21,942
Corporate, Non-Segment [Member]
Depreciation depletion and amortization expense [Abstract]
Total depreciation depletion amortization expense	36	37
Assets by segment [Abstract]
Total Assets	$6,553		$9,561

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income (loss)	($23,703)	$250
Basic weighted-average common shares outstanding (in shares)	28,047,661	27,738,083
Add: dilutive effect of stock options (in shares)	0	404,170
Add: dilutive effect of unvested restricted stock (in shares)	0	0
Diluted weighted-average common shares outstanding (in shares)	28,047,661	28,142,253
Basic net (loss) income per share (in dollars per share)	($0.85)	$0.01
Diluted net (loss) income per share (in dollars per share)	($0.85)	$0.01
Antidilutive securities excluded from computation of earnings per share [Line Items]
Weighted-average anti-dilutive securities (in shares)	2,953,715	1,055,000
Stock Option [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Weighted-average anti-dilutive securities (in shares)	2,616,790	1,055,000
Restricted Stock [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Weighted-average anti-dilutive securities (in shares)	336,925	0

Commitments_and_Contingencies_

Commitments and Contingencies (Details)	3 Months Ended
	Mar. 31, 2015	Jan. 21, 2014
		acre
Water Rights Litigation Mt. Emmons Project [Abstract]
Period for proposal submission	6 years
Gas and Oil Acreage [Line Items]
Gross acres acquired in acquisition (in acres)		160
Working interest percentage (in hundredths)		50.00%
Dimmit Wood Properties Ltd [Member]
Gas and Oil Acreage [Line Items]
Gross acres acquired in acquisition (in acres)	800.77
Working interest percentage (in hundredths)	30.00%

Subsequent_Events_Details

Subsequent Events (Details) (Revolving Credit Facility [Member], USD $)	Mar. 31, 2015	Apr. 15, 2015
In Millions, unless otherwise specified
Subsequent Event [Line Items]
Borrowing Base	$24.50
Subsequent Event [Member]
Subsequent Event [Line Items]
Borrowing Base		$7.50