Genie Energy (GNE) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 06, 2015
Entity Registrant Name	Genie Energy Ltd.
Entity Central Index Key	1,528,356
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Filer Category	Accelerated Filer
Class A common stock
Entity Common Stock, Shares Outstanding		1,574,326
Class B common stock
Entity Common Stock, Shares Outstanding		23,042,463

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 48,380	$ 71,895
Restricted cash-short-term	10,534	10,609
Certificates of deposit	8,832	4,669
Trade accounts receivable, net of allowance for doubtful accounts of $195 and $227 at September 30, 2015 and December 31, 2014, respectively	27,715	31,427
Inventory	11,612	11,166
Prepaid expenses	6,908	5,713
Deferred income tax assets, net	1,548	1,463
Other current assets	5,682	5,430
Total current assets	121,211	142,372
Property and equipment, net	1,601	1,902
Capitalized exploration costs-unproved oil and gas property	17,615
Goodwill	3,663	3,663
Restricted cash-long-term	1,415	1,023
Other assets	4,724	3,968
Total assets	150,229	152,928
Current liabilities:
Trade accounts payable	11,346	14,881
Accrued expenses	16,850	10,913
Advances from customers	635	403
Income taxes payable	1,206	543
Due to IDT Corporation	80	542
Energy hedging contracts	1,862	4,003
Other current liabilities	661	797
Total current liabilities	32,640	32,082
Other liabilities	1,494	1,503
Total liabilities	$ 34,134	$ 33,585
Commitments and contingencies
Genie Energy Ltd. Stockholders' equity:
Preferred stock, $.01 par value; authorized shares-10,000: Series 2012-A, designated shares-8,750; at liquidation preference, consisting of 2,322 shares issued and outstanding at September 30, 2015 and December 31, 2014	$ 19,743	$ 19,743
Additional paid-in capital	123,215	114,322
Treasury stock, at cost, consisting of 197 shares and 194 shares of Class B common stock at September 30, 2015 and December 31, 2014, respectively	(1,565)	(1,543)
Accumulated other comprehensive (loss) income	(42)	10
Accumulated deficit	(15,482)	(7,759)
Total Genie Energy Ltd. Stockholders' equity	126,117	125,021
Noncontrolling interests:
Noncontrolling interests	(6,522)	(4,678)
Receivables for issuance of equity	(3,500)	(1,000)
Total noncontrolling interests	(10,022)	(5,678)
Total equity	116,095	119,343
Total liabilities and equity	150,229	152,928
Class A common stock
Genie Energy Ltd. Stockholders' equity:
Common stock, value	16	16
Class B common stock
Genie Energy Ltd. Stockholders' equity:
Common stock, value	$ 232	$ 232

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts, trade accounts receivable (in dollars)	$ 195	$ 227
Preferred stock, par value (In dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Series 2012-A Preferred Stock
Designated shares	8,750	8,750
Preferred stock, shares issued	2,322	2,322
Preferred stock, shares outstanding	2,322	2,322
Class A common stock
Common stock, par value (In dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000	35,000
Common stock, shares issued	1,574	1,574
Common stock, shares outstanding	1,574	1,574
Class B common stock
Common stock, par value (In dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	23,240	23,178
Common stock, shares outstanding	23,043	22,984
Treasury stock, shares	197	194

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Electricity		$ 49,387	$ 42,504	$ 130,527	$ 177,802
Natural gas		2,265	2,805	33,440	45,826
Other		586	877	2,227	1,717
Total revenues		52,238	46,186	166,194	225,345
Direct cost of revenues		(30,420)	(28,359)	(113,201)	(186,170)
Gross profit		21,818	17,827	52,993	39,175
Operating expenses and losses:
Selling, general and administrative (i)	[1]	15,909	18,890	49,016	46,605
Research and development		406	1,491	1,662	4,031
Exploration		1,531	1,553	4,390	$ 3,482
Equity in the net loss of AMSO, LLC		133		133
Income (loss) from operations		3,839	(4,107)	(2,208)	$ (14,943)
Interest income		105	117	306	310
Financing fees		(590)	(518)	(1,878)	(2,046)
Other income (expense), net		24	150	(110)	121
Income (loss) before income taxes		3,378	(4,358)	(3,890)	(16,558)
Provision for income taxes		(752)	(467)	(639)	(420)
Net income (loss)		2,626	(4,825)	(4,529)	(16,978)
Net loss attributable to noncontrolling interests		219	430	867	929
Net income (loss) attributable to Genie Energy Ltd.		2,845	(4,395)	(3,662)	(16,049)
Dividends on preferred stock		(370)	(370)	(1,111)	(1,046)
Net income (loss) attributable to Genie Energy Ltd. common stockholders.		$ 2,475	$ (4,765)	$ (4,773)	$ (17,095)
Earnings (loss) per share attributable to Genie Energy Ltd. common stockholders:
Basic		$ 0.11	$ (0.22)	$ (0.22)	$ (0.81)
Diluted		$ 0.1	$ (0.22)	$ (0.22)	$ (0.81)
Weighted-average number of shares used in calculation of earnings (loss) per share:
Basic		22,146	21,224	22,126	21,189
Diluted		23,622	21,224	22,126	21,189
Dividends declared per common share				$ 0.12
[1]	Stock-based compensation included in selling, general and administrative expenses $1,241 $4,929 $4,074 $8,492

Consolidated Statements of Ope5

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statements of Operations [Abstract]
Stock-based compensation included in selling, general and administrative expenses	$ 1,241	$ 4,929	$ 4,074	$ 8,492

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statements Of Comprehensive (Loss) Income [Abstract]
Net income (loss)	$ 2,626	$ (4,825)	$ (4,529)	$ (16,978)
Other comprehensive loss:
Foreign currency translation adjustments	(612)	(397)	(50)	(324)
Comprehensive income (loss)	2,014	(5,222)	(4,579)	(17,302)
Comprehensive loss attributable to noncontrolling interests	208	408	865	911
Comprehensive income (loss) attributable to Genie Energy Ltd.	$ 2,222	$ (4,814)	$ (3,714)	$ (16,391)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net loss	$ (4,529)	$ (16,978)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	326	92
Provision for doubtful accounts receivable	(18)	308
Deferred income taxes	(85)	(80)
Stock-based compensation	4,074	$ 8,492
Equity in the net loss of AMSO, LLC	133
Change in assets and liabilities:
Restricted cash	(327)	$ 3,482
Trade accounts receivable	3,730	17,642
Inventory	(445)	(5,635)
Prepaid expenses	(1,195)	(763)
Other current assets and other assets	(744)	(1,143)
Trade accounts payable, accrued expenses and other current liabilities	(791)	(11,129)
Advances from customers	231	(876)
Due to IDT Corporation	(462)	290
Income taxes payable	662	(1,796)
Net cash provided by (used in) operating activities	560	(8,094)
Investing activities
Capital expenditures	(324)	$ (1,261)
Investments in capitalized exploration costs-unproved oil and gas property	(17,765)
Capital contributions to AMSO, LLC	(125)
Issuance of note receivable		$ (50)
Purchase of certificates of deposit	(8,820)	(4,655)
Proceeds from maturities of certificates of deposit	4,688	4,334
Net cash used in investing activities	(22,346)	(1,632)
Financing activities
Dividends paid	(4,061)	(982)
Payments for acquisition	(290)	(574)
Proceeds from purchases of Class B common stock by Howard S. Jonas		24,552
Proceeds from exercise of stock options	174	27
Proceeds from exercise of GOGAS stock option	2,500
Advance on sale of interest in subsidiary		300
Repurchases of Class B common stock	(22)	(957)
Net cash (used in) provided by financing activities	(1,699)	22,366
Effect of exchange rate changes on cash and cash equivalents	(30)	(287)
Net (decrease) increase in cash and cash equivalents	(23,515)	12,353
Cash and cash equivalents at beginning of period	71,895	73,885
Cash and cash equivalents at end of period	48,380	$ 86,238
Supplemental Schedule of Non-Cash Financing and Investing Activities
Subsidiary equity grant reclassified to liability	1,200
Receivable for issuance of equity of subsidiaries	$ 2,500

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	Note 1—Basis of Presentation The accompanying unaudited consolidated financial statements of Genie Energy Ltd. and its subsidiaries (the “Company” or “Genie”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. The balance sheet at December 31, 2014 has been derived from the Company’s audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the U.S. Securities and Exchange Commission (the “SEC”). The Company owns 99.3% of its subsidiary, Genie Energy International Corporation (“GEIC”), which owns 100% of Genie Retail Energy (“GRE”) and 92% of Genie Oil and Gas, Inc. (“GOGAS”). Genie’s principal businesses consist of the following: ● Genie Retail Energy operates retail energy providers (“REPs”), including IDT Energy, Inc. (“IDT Energy”) and Residents Energy, Inc. (“Residents Energy”), and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern United States; and ● Genie Oil and Gas is an oil and gas exploration company that consists of: ● an 86.9% interest in Afek Oil and Gas, Ltd. (“Afek”), which operates an exploration project in the southern portion of the Golan Heights in Northern Israel, and ● early stage projects including (1) an 88.4% interest in Genie Mongolia, Inc. (“Genie Mongolia”), an oil shale exploration project in Central Mongolia, (2) a 98.3% interest in American Shale Oil Corporation (“AMSO”), which holds and manages a 41.9% interest in American Shale Oil, L.L.C. (“AMSO, LLC”), an oil shale development project in Colorado, and (3) an 86.1% interest in Israel Energy Initiatives, Ltd. (“IEI”), an oil shale development project in Israel. GRE has outstanding deferred stock units granted to officers and employees that represent an interest of 3.9% of the equity of GRE. In the consolidated statements of operations, expense relating to Afek’s oil and gas exploration activities of $1.6 million and $3.5 million in the three and nine months ended September 30, 2014, respectively, previously included in “Research and development expense”, were reclassified to “Exploration expense” to conform to the current year’s presentation. Seasonality and Weather The weather and the seasons, among other things, affect GRE’s revenues. Weather conditions have a significant impact on the demand for natural gas used for heating and electricity used for heating and cooling. Typically, colder winters increase demand for natural gas and electricity, and hotter summers increase demand for electricity. Milder winters and/or summers have the opposite effects. Natural gas revenues typically increase in the first quarter due to increased heating demands and electricity revenues typically increase in the third quarter due to increased air conditioning use. Approximately 59% and 49% of GRE’s natural gas revenues for the relevant years were generated in the first quarter of 2014 and 2013, respectively, when demand for heating was highest. Although the demand for electricity is not as seasonal as natural gas (due, in part, to usage of electricity for both heating and cooling), approximately 20% and 31% of GRE’s electricity revenues for the relevant years were generated in the third quarter of 2014 and 2013, respectively. Because of dramatic increases in wholesale electricity prices in January and February 2014, the retail electricity prices that GRE and many other variable rate electricity suppliers charged to their customers also increased sharply. As a result, approximately 45% of GRE’s electricity revenues in 2014 were generated in the first quarter of 2014. The Company’s revenues and operating income are subject to material seasonal variations, and the interim financial results are not necessarily indicative of the estimated financial results for the full year.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 2—Fair Value Measurements The following table presents the balance of assets and liabilities measured at fair value on a recurring basis: Level 1 (1) Level 2 (2) Level 3 (3) Total (in thousands) September 30, 2015 Assets: Derivative contracts $ 271 $ 1,671 $ — $ 1,942 Liabilities: Derivative contracts $ 7 $ 1,855 $ — $ 1,862 December 31, 2014 Assets: Derivative contracts $ 1,001 $ 1,376 $ — $ 2,377 Liabilities: Derivative contracts $ 440 $ 3,563 $ — $ 4,003 (1) – quoted prices in active markets for identical assets or liabilities (2) – observable inputs other than quoted prices in active markets for identical assets and liabilities (3) – no observable pricing inputs in the market The Company’s derivative contracts consist of natural gas and electricity put and call options and swaps. The underlying asset in the Company’s put and call options is a forward contract. The Company’s swaps are agreements whereby a floating (or market or spot) price is exchanged for a fixed price over a specified period. The Company’s derivatives were classified as Level 1, Level 2 or Level 3. The Level 1 derivatives were valued using quoted prices in active markets for identical contracts. The Level 2 derivatives were valued using observable inputs based on quoted market prices in active markets for similar contracts. The fair value of the Level 3 derivatives was based on the value of the underlying contracts, estimated in conjunction with the counterparty and could not be corroborated by the market. The Company’s subsidiary, GOGAS, issued a stock option in June 2011 to Michael Steinhardt, the Chairman of the Board of IEI, at an exercise price of $5.0 million. The expiration date was April 9, 2015. The expiration date was extended for one month, and on May 9, 2015, the option was exercised (see Note 6). At December 31, 2014, the fair value of the GOGAS stock option was nil. The following table summarizes the change in the balance of the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). There were no liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and nine months ended September 30, 2015 and 2014. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Balance, beginning of period $ — $ — $ — $ 62 Total losses (realized or unrealized) included in earnings in “Direct cost of revenues” — — — (62 ) Balance, end of period $ — $ — $ — $ — The amount of total gains or losses for the period included in earnings in “Direct cost of revenues” attributable to the change in unrealized gains or losses relating to assets held at the end of the period $ — $ — $ — $ — Fair Value of Other Financial Instruments The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting this data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. Restricted cash—short-term, certificates of deposit, prepaid expenses, other current assets, advances from customers, due to IDT Corporation and other current liabilities. , Restricted cash—long-term. Other assets and other liabilities.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments [Abstract]
Derivative Instruments	Note 3—Derivative Instruments The primary risk managed by the Company using derivative instruments is commodity price risk, which is accounted for in accordance with Accounting Standards Codification 815—Derivatives and Hedging. Natural gas and electricity put and call options and swaps are entered into as hedges against unfavorable fluctuations in market prices of natural gas and electricity. The Company does not apply hedge accounting to these options or swaps, therefore the changes in fair value are recorded in earnings. By using derivative instruments to mitigate exposures to changes in commodity prices, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk. The Company minimizes the credit or repayment risk in derivative instruments by entering into transactions with high-quality counterparties. At September 30, 2015 and December 31, 2014, GRE’s swaps and options were traded on the New York Mercantile Exchange. The summarized volume of GRE’s outstanding contracts and options as of September 30, 2015 was as follows (MWh – Megawatt hour and Dth – Decatherm): Commodity Settlement Dates Volume Electricity October 2015 31,680 MWh Electricity November 2015 219,200 MWh Electricity December 2015 186,560 MWh Electricity January 2016 251,200 MWh Electricity February 2016 263,760 MWh Electricity March 2016 79,600 MWh Electricity April 2016 35,200 MWh Natural gas January 2016 1,942,500 Dth Natural gas July 2016 1,110,000 Dth Natural gas August 2016 800,000 Dth The fair value of outstanding derivative instruments recorded as assets in the accompanying consolidated balance sheets were as follows: Asset Derivatives Balance Sheet Location September 30, December 31, (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current assets $ 1,942 $ 2,377 The fair value of outstanding derivative instruments recorded as liabilities in the accompanying consolidated balance sheets were as follows: Liability Derivatives Balance Sheet Location September 30, 2015 December 31, 2014 (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Energy hedging contracts $ 1,862 $ 4,003 The effects of derivative instruments on the consolidated statements of operations were as follows: Amount of Gain (Loss) Recognized on Derivatives Derivatives not designated Three Months Ended Nine Months Ended or not qualifying as Location of Gain (Loss) September 30, September 30, hedging instruments Recognized on Derivatives 2015 2014 2015 2014 (in thousands) Energy contracts and options Direct cost of revenues $ (427 ) $ (19 ) $ (1,516 ) $ (118 )

Afek Oil and Gas Exploration Ac

Afek Oil and Gas Exploration Activities	9 Months Ended
	Sep. 30, 2015
Afek Oil and Gas Exploration Activities [Abstract]
Afek Oil and Gas Exploration Activities	Note 4 —Afek Oil and Gas Exploration Activities In April 2013, the Government of Israel finalized the award to Afek of an exclusive three year petroleum exploration license covering 396.5 square kilometers in the southern portion of the Golan Heights. In 2013, Afek completed preliminary geophysical work including electromagnetic and gravimetric surveys and reprocessing of the 2D seismic data to characterize the subsurface prior to drilling exploration wells. Afek subsequently began the analysis of the acquired data internally and with outside oil exploration experts. In early 2014, Afek submitted a permit application to the Northern Regional Planning and Building Committee to conduct a ten-well exploration drilling program to further characterize the resource in its license area. In July 2014, the Committee voted to approve the up to ten-well exploratory drilling program, and subsequently issued the requisite permits. In October 2014, the High Court of Justice in Israel issued an interim order to halt Afek’s drilling program until it could rule on a petition filed by the Israel Union for Environmental Defense and some local residents challenging the issuance of the drilling permit. In December 2014, the Court ruled against the petitioners, and lifted its interim order. In February 2015, Afek initiated drilling on its first exploratory well pursuant to its up to ten-well exploratory program. To date, Afek has completed drilling two wells and has nearly completed drilling its third well. In addition, the design of the flow test program has been completed. Afek is in the process of seeking the final approval to begin testing multiple target zones on one of the completed wells. The results of the flow tests in combination with the results from Afek’s cuttings, logs, core samples, and other drilling instrumentation will eventually serve as the basis for a third party reserve estimate. Preliminary results are consistent with the assumptions underlying the exploratory program, and indicate the presence of hydrocarbons within the formation. The volume of the resources and to what extent they may be extractable cannot yet be determined. The resources do not constitute proved, probable or possible reserves. On November 2, 2015, the Northern Regional Planning and Building Committee proposed issuance of a two-year extension of Afek’s drilling permit commencing a 60-day public comment period. If the permits are finalized, the extension could cover the remainder of Afek’s exploratory program of up to ten wells. The Company accounts for Afek’s oil and gas activities under the successful efforts method of accounting. Under this method, the costs of drilling exploratory wells and exploratory-type stratigraphic test wells are capitalized, pending determination of whether the well has found proved reserves. Other exploration costs are charged to expense as incurred. Unproved properties are assessed for impairment, and if considered impaired, are charged to expense when such impairment is deemed to have occurred. At September 30, 2015, capitalized exploratory well costs of unproved properties were $17.6 million. The Company recognized exploration expense of $1.5 million and $1.6 million in the three months ended September 30, 2015 and 2014, respectively, and $4.4 million and $3.5 million in the nine months ended September 30, 2015 and 2014, respectively.

Investment in American Shale Oi

Investment in American Shale Oil, LLC	9 Months Ended
	Sep. 30, 2015
Investment In American Shale Oil, Llc [Abstract]
Investment in American Shale Oil, LLC	Note 5 — Investment in American Shale Oil, LLC The Company accounts for its ownership interest in AMSO, LLC using the equity method since the Company has the ability to exercise significant influence over its operating and financial matters, although it does not control AMSO, LLC. AMSO, LLC is a variable interest entity, however, the Company has determined that it is not the primary beneficiary, as the Company does not have the power to direct the activities of AMSO, LLC that most significantly impact AMSO, LLC’s economic performance. Except as set forth below, AMSO was responsible for funding 20% of the initial $50 million of AMSO, LLC’s expenditures, and is responsible for funding 35% of the approved expenditures between $50 million and $100 million, and 40% of the costs of the one-time payment for conversion of AMSO, LLC’s research, development and demonstration lease to a commercial lease, in the event AMSO, LLC’s application for conversion is approved, with the remaining amounts of such expenditures to be funded by Total S.A. (“Total”). All other expenditures are to be borne in proportion to equity ownership. The percentages for expenditures are subject to proportional adjustment in connection with certain changes in the equity ownership of AMSO LLC. At September 30, 2015, the cumulative contributions of AMSO and Total to AMSO, LLC were $81.6 million. AMSO’s allocated share of the net loss of AMSO, LLC is included in “Equity in the net loss of AMSO, LLC” in the accompanying consolidated statements of operations. AMSO has the right to decide at each capital call whether or not to fund AMSO, LLC, and will make a determination at each such time. AMSO did not fund the capital calls for any quarter from the fourth quarter of 2013 through the second quarter of 2015. AMSO funded an aggregate of $0.3 million in the third and fourth quarters of 2015, which was 38% of its share of the capital calls. In the period from January 2014 through October 2015, Total funded an aggregate of $4.2 million for AMSO’s share of the capital calls that AMSO did not fund. Because of AMSO’s decisions not to fund all of its share of AMSO, LLC’s expenditures, AMSO’s ownership interest in AMSO, LLC was reduced to 41.9% and Total’s ownership interest increased to 58.1%. In addition, AMSO’s share of future funding of AMSO, LLC up to a cumulative $100 million was reduced to 29.4% and Total’s share increased to 70.6%. AMSO is evaluating its options with respect to funding AMSO, LLC in 2016, and funding of less than its full share would result in further dilution of its interest in AMSO, LLC. The agreements with Total provide for varying consequences for AMSO’s failure to fund its share at different stages of the project, including dilution of AMSO’s interest in AMSO, LLC or paying interest to Total for expenditures they fund on behalf of AMSO. Either Total or AMSO may terminate its obligations to make capital contributions and withdraw as a member of AMSO, LLC. Even if AMSO were to withdraw its interest in AMSO, LLC, it will remain liable for its share of expenditures for safety and environmental reclamation related to events occurring prior to its withdrawal. The following table summarizes the change in the balance of the Company’s investment in AMSO, LLC: Nine Months Ended September 30, 2015 2014 (in thousands) Balance, beginning of period $ (252 ) $ (252 ) Capital contributions 125 — Equity in the net loss of AMSO, LLC (133 ) — Balance, end of period $ (260 ) $ (252 ) At September 30, 2015 and at December 31, 2014, the liability for equity loss in AMSO, LLC was included in “Accrued expenses” in the consolidated balance sheet. In part because of AMSO’s decisions not to fund all of its share of AMSO, LLC’s expenditures, AMSO, LLC allocated its net loss beginning January 2014 as follows: the first $11.8 million of losses were allocated to Total, then it allocates remaining losses proportionately such that over time AMSO and Total’s capital accounts as a percentage of AMSO, LLC’s total capital will equal their ownership interests. Summarized unaudited statements of operations of AMSO, LLC Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Operating expenses: General and administrative $ 86 $ 111 $ 302 $ 344 Research and development 1,171 2,025 3,737 6,072 Total operating expenses 1,257 2,136 4,039 6,416 Loss from operations and net loss $ (1,257 ) $ (2,136 ) $ (4,039 ) $ (6,416 )

Equity

Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Equity	Note 6—Equity Changes in the components of equity were as follows: Nine Months Ended Attributable to Genie Noncontrolling Interests Total (in thousands) Balance, December 31, 2014 $ 125,021 $ (5,678 ) $ 119,343 Dividends on preferred stock (1,111 ) — (1,111 ) Dividends declared on common stock ($0.12 per share) (2,950 ) — (2,950 ) Exercise of stock options 174 — 174 Exercise of GOGAS stock option 5,979 (3,479 ) 2,500 Subsidiary equity grant reclassified to liability (1,200 ) — (1,200 ) Restricted Class B common stock purchased from employees (22 ) — (22 ) Stock-based compensation 3,940 — 3,940 Comprehensive loss: Net loss (3,662 ) (867 ) (4,529 ) Foreign currency translation adjustments (52 ) 2 (50 ) Comprehensive loss (3,714 ) (865 ) (4,579 ) Balance, September 30, 2015 $ 126,117 $ (10,022 ) $ 116,095 Dividend Payments On August 14, 2015, May 15, 2015 and February 15, 2015, the Company paid a quarterly Base Dividend of $0.1594 per share on its Series 2012-A Preferred Stock (“Preferred Stock”) for the second quarter of 2015, the first quarter of 2015 and the fourth quarter of 2014, respectively. On October 19, 2015, the Company’s Board of Directors declared a quarterly Base Dividend of $0.1594 per share on the Preferred Stock for the third quarter of 2015. The dividend will be paid on or about November 16, 2015 to stockholders of record as of the close of business on November 4, 2015. The aggregate dividends declared and paid in the nine months ended September 30, 2015 and 2014 were $1.1 million and $1.0 million, respectively. On May 22, 2015 and March 31, 2015, the Company paid a quarterly dividend of $0.06 per share on its Class A common stock and Class B common stock for the first quarter of 2015 and for fourth quarter of 2014, respectively. The aggregate dividends declared and paid in the nine months ended September 30, 2015 and 2014 were $3.0 million and nil, respectively. On August 6, 2015, the Company announced that its Board of Directors had suspended dividends on the Company’s common stock for the current time. Exercise of GOGAS stock option On May 9, 2015, Michael Steinhardt exercised his option to acquire interests in GOGAS subsidiaries. Mr. Steinhardt and an affiliate received interests of approximately 1.5% in each of Afek, Genie Mongolia and IEI. In addition, Mr. Steinhardt and the affiliate received an approximately 1.7% interest in AMSO. The exercise price of $5.0 million was paid $2.5 million in cash and $2.5 million in promissory notes due in November 2015. The notes bear interest at 0.43% per annum, and are secured by 50% of the shares received in the exercise. At September 30, 2015, the notes receivable were included in “Receivables for issuance of equity” in the consolidated balance sheet. Subsidiary Equity Grant Reclassified to Liability IDT Energy had the right to issue shares of the Company’s Class B common stock or pay cash to satisfy its obligations to issue common stock of IDT Energy upon the vesting of the deferred stock units it had previously granted to officers and employees of the Company. IDT Energy elected to pay cash for the remaining deferred stock units that vested in June and July 2015. The Company paid cash in the amount of $1.2 million in August 2015 to satisfy its obligation to issue common stock of IDT Energy. Stock-Based Compensation On May 5, 2015, the Company’s stockholders approved an amendment and restatement to the Company’s 2011 Stock Option and Incentive Plan that increased the number of shares of the Company’s Class B common stock available for the grant of awards thereunder by an additional 180,000 shares. At May 7, 2015, the Company had 1.3 million shares of Class B common stock reserved for award under its 2011 Stock Option and Incentive Plan and 0.2 million shares were available for future grants. On May 5, 2015, the Compensation Committee of the Company’s Board of Directors approved the grant of deferred stock units in GRE to certain of the Company’s officers and employees. Howard S. Jonas, the Company’s Chairman and Chief Executive Officer, was granted deferred stock units representing 2.8% of the outstanding equity in GRE, Avi Goldin, the Company’s Chief Financial Officer and Executive Vice President - Finance was granted deferred stock units representing 0.2% of the outstanding equity in GRE, Michael Stein, the Company’s Executive Vice President and the Chief Executive Officer and a Director of GRE was granted deferred stock units representing 0.3% of the outstanding equity in GRE, and other employees were granted deferred stock units representing an aggregate of 0.6% of the outstanding equity in GRE. The deferred stock units vest in equal amounts on the first, second and third anniversaries of the date of grant. The fair value of the GRE deferred stock units on the date of grant was $4.0 million, which is being recognized on a straight-line basis over the vesting period. Stock Repurchase Program On March 11, 2013, the Board of Directors of the Company approved a stock repurchase program for the repurchase of up to 7.0 million shares of the Company’s Class B common stock. There were no repurchases under this program in the nine months ended September 30, 2015. At September 30, 2015, 6.9 million shares remained available for repurchase under the stock repurchase program. Variable Interest Entities In 2011, an employee of IDT Corporation (“IDT”) until his employment was terminated effective December 30, 2011, incorporated Citizens Choice Energy, LLC (“CCE”), which is a REP that resells electricity and natural gas to residential and small business customers in the State of New York. Tari Corporation (“Tari”), which is owned by the former employee, is the sole owner of CCE. In addition, DAD Sales, LLC (“DAD”), which is 100% owned by Tari, used a network of independent door-to-door sales agents to obtain customers for CCE. In December 2012, DAD ceased to acquire customers for CCE. The Company provided CCE, DAD and Tari with substantially all of the cash required to fund their operations. The Company determined that since the acquisition of the interest in CCE, DAD and Tari, it had the power to direct the activities of these entities that most significantly impact their economic performance and it has the obligation to absorb losses of CCE, DAD and Tari that could potentially be significant to CCE, DAD and Tari on a stand-alone basis. The Company therefore determined that it is the primary beneficiary of CCE, DAD and Tari, and as a result, the Company consolidates CCE, DAD and Tari within its GRE segment. The Company does not own any interest in CCE, DAD or Tari and thus the net income or loss incurred by CCE, DAD and Tari was attributed to noncontrolling interests in the accompanying consolidated statements of operations. Net income (loss) amounts related to CCE, DAD and Tari and aggregate net funding repaid to (provided by) the Company by CCE, DAD and Tari were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Net income (loss): CCE $ 78 $ 24 $ 142 $ 136 DAD $ (29 ) $ (86 ) $ (166 ) $ (99 ) Tari $ — $ — $ — $ (13 ) Aggregate funding repaid to (provided by) the Company, net $ 28 $ (355 ) $ 869 $ 261 Summarized combined balance sheet amounts related to CCE, DAD and Tari are as follows: September 30, December 31, 2014 (in thousands) Assets Cash and cash equivalents $ 57 $ 77 Restricted cash 11 20 Trade accounts receivable 939 1,873 Prepaid expenses 503 480 Other current assets 66 178 Other assets 459 459 Total assets $ 2,035 $ 3,087 Liabilities and noncontrolling interests Current liabilities $ 320 $ 480 Due to IDT Energy 416 1,285 Noncontrolling interests 1,299 1,322 Total liabilities and noncontrolling interests $ 2,035 $ 3,087 The assets of CCE, DAD and Tari may only be used to settle obligations of CCE, DAD and Tari, and may not be used for other consolidated entities. The liabilities of CCE, DAD and Tari are non-recourse to the general credit of the Company’s other consolidated entities.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2015
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	Note 7—Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings (loss) per share is computed in the same manner as basic earnings (loss) per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive. The weighted-average number of shares used in the calculation of basic and diluted earnings (loss) per share attributable to the Company’s common stockholders consists of the following: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Basic weighted-average number of shares 22,146 21,224 22,126 21,189 Effect of dilutive securities: Stock options 57 — — — Non-vested restricted Class B common stock 1,419 — — — Diluted weighted-average number of shares 23,622 21,224 22,126 21,189 The following shares were excluded from the diluted loss per share computation because their inclusion would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Stock options — 438 415 438 Non-vested restricted Class B common stock — 3,166 2,459 3,166 Shares excluded from the calculation of diluted earnings per share — 3,604 2,874 3,604 The diluted loss per share equals basic loss per share in the nine months ended September 30, 2015 and in the three and nine months ended September 30, 2014 because the Company had a net loss and the impact of the assumed exercise of stock options and vesting of restricted stock would have been anti-dilutive. An entity affiliated with Lord (Jacob) Rothschild has a one-time option, subject to certain conditions and exercisable between November 2017 and February 2018, to exchange its GOGAS shares for shares of the Company with equal fair value as determined by the parties. The number of shares issuable in such an exchange is not currently determinable. If this option is exercised, the shares issued by the Company may dilute the earnings per share in future periods. An employee of the Company, pursuant to the terms of his employment agreement, has the option to exchange his equity interests in IEI, Afek, Genie Mongolia and any equity interest that he may acquire in other entities that the Company may create, for shares of the Company. Employees and directors of the Company that were previously granted restricted stock of Afek and Genie Mongolia have the right to exchange the restricted stock, upon vesting of such shares, into shares of the Company’s Class B common stock. GRE has the right, at its option, to satisfy its obligations to issue common stock of GRE upon the vesting of the deferred stock units it granted in July 2015 to officers and employees of the Company in shares of the Company’s Class B common stock or cash. These exchanges and issuances, if elected, would be based on the relative fair value of the shares exchanged or to be issued. The number of shares of the Company’s stock issuable in an exchange is not currently determinable. If shares of the Company’s stock are issued upon such exchange, the Company’s earnings per share may be diluted in future periods.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 8—Related Party Transactions On October 28, 2011, the Company was spun-off by IDT, its former parent company, (the “Spin-Off”). The Company entered into various agreements with IDT prior to the Spin-Off including an agreement for certain services to be performed by the Company and IDT. Following the Spin-Off, the charges for services provided by IDT are included in “Selling, general and administrative” expense in the consolidated statements of operations. Also, the Company provides specified administrative services to certain of IDT’s foreign subsidiaries. The charges for these services reduce the Company’s “Selling, general and administrative” expenses. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Amount IDT charged the Company $ 521 $ 1,195 $ 1,627 $ 2,613 Amount the Company charged IDT $ 142 $ 127 $ 401 $ 402

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2015
Business Segment Information [Abstract]
Business Segment Information	Note 9—Business Segment Information The Company owns 99.3% of its subsidiary, GEIC, which owns 100% of GRE and 92% of GOGAS. The Company has three reportable business segments: GRE, GOGAS and Afek. GRE operates REPs including IDT Energy and Residents Energy, and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern United States. GOGAS is an oil and gas exploration company. The GOGAS segment is comprised of early stage oil shale projects including (1) an 88.4% interest in Genie Mongolia, an oil shale exploration project in Central Mongolia, (2) a 98.3% interest in AMSO, which holds and manages a 41.9% interest in AMSO, LLC, an oil shale development project in Colorado, and (3) an 86.1% interest in IEI, an oil shale development project in Israel. The Company has an 86.9% interest in Afek, which operates an oil and gas exploration project in the southern portion of the Golan Heights in Northern Israel. GRE has outstanding deferred stock units granted to officers and employees that represent an interest of 3.9% of the equity of GRE. Corporate costs include unallocated compensation, consulting fees, legal fees, business development expenses and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any direct cost of revenues. Afek was included in the GOGAS segment from its inception until December 31, 2014. Beginning in the first quarter of 2015, Afek is a separate reportable segment. Comparative results have been reclassified and restated as if Afek was a separate segment in all periods presented. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations. There are no significant asymmetrical allocations to segments. Operating results for the business segments of the Company were as follows: (in thousands) GRE GOGAS Afek Corporate Total Three Months Ended September 30, 2015 Revenues $ 52,238 $ — $ — $ — $ 52,238 Income (loss) from operations 8,524 (729 ) (1,842 ) (2,114 ) 3,839 Research and development — 395 11 — 406 Exploration — — 1,531 — 1,531 Equity in the net loss of AMSO, LLC — 133 — — 133 Three Months Ended September 30, 2014 Revenues $ 46,186 $ — $ — $ — $ 46,186 Income (loss) from operations 5,612 (1,642 ) (1,652 ) (6,425 ) (4,107 ) Research and development — 1,443 48 — 1,491 Exploration — — 1,553 — 1,553 Nine Months Ended September 30, 2015 Revenues $ 166,194 $ — $ — $ — $ 166,194 Income (loss) from operations 12,079 (2,423 ) (5,050 ) (6,814 ) (2,208 ) Research and development — 1,599 63 — 1,662 Exploration — — 4,390 — 4,390 Equity in the net loss of AMSO, LLC — 133 — — 133 Nine Months Ended September 30, 2014 Revenues $ 225,345 $ — $ — $ — $ 225,345 Income (loss) from operations 5,643 (4,838 ) (3,661 ) (12,087 ) (14,943 ) Research and development — 3,918 113 — 4,031 Exploration — — 3,482 — 3,482 Total assets for the business segments of the Company were as follows: (in thousands) GRE GOGAS Afek Corporate Total Total assets: September 30, 2015 $ 77,907 $ 25,747 $ 28,449 $ 18,126 $ 150,229 December 31, 2014 $ 78,254 $ 48,899 $ 6,243 $ 19,532 $ 152,928

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 10—Commitments and Contingencies Legal Proceedings On March 13, 2014, named plaintiff, Anthony Ferrare, commenced a putative class-action lawsuit against IDT Energy, Inc. in the Court of Common Pleas of Philadelphia County, Pennsylvania. The complaint was served on IDT Energy on July 16, 2014. The named plaintiff filed the suit on behalf of himself and other former and current electric customers of IDT Energy in Pennsylvania with variable rate plans, whom he contends were injured as a result of IDT Energy’s allegedly unlawful sales and marketing practices. On August 7, 2014, IDT Energy removed the case to the United States District Court for the Eastern District of Pennsylvania. On October 20, 2014, IDT Energy moved to stay or, alternatively, dismiss the complaint, as amended, by the named plaintiff. On November 10, 2014, the named plaintiff opposed IDT Energy’s motion to dismiss and IDT Energy filed a reply memorandum of law in further support of its motion to dismiss. On June 10, 2015, the Court granted IDT Energy’s motion to stay and denied its motion to dismiss without prejudice. IDT Energy believes that the claims in this lawsuit are without merit and intends to vigorously defend the action. On June 20, 2014, the Pennsylvania Attorney General’s Office (“AG”) and the Acting Consumer Advocate (“OCA”) filed a Joint Complaint against IDT Energy, Inc. with the Pennsylvania Public Utility Commission (“PUC”). In the Joint Complaint, the AG and the OCA allege, among other things, various violations of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law, the Telemarketing Registration Act and the Pennsylvania PUC’s regulations. IDT Energy has reached an agreement in principle on a settlement with the AG and the OCA to terminate the litigation with no admission of liability or finding of wrongdoing by IDT Energy. On August 4, 2015, IDT Energy, the AG, and the OCA filed a Joint Petition to the Pennsylvania PUC seeking approval of the settlement terms. Under the settlement, IDT Energy will agree to issue additional refunds to its Pennsylvania customers who had variable rates for electricity supply in January, February and March of 2014. IDT Energy will also agree to implement certain modifications to its sales, marketing and customer service processes, along with additional compliance and reporting requirements. The settlement must be approved by the Pennsylvania PUC, which is not expected until 2016. On July 2, 2014, named plaintiff, Louis McLaughlin, filed a putative class-action lawsuit against IDT Energy, Inc. in the United States District Court for the Eastern District of New York, contending that he and other class members were injured as a result of IDT Energy’s allegedly unlawful sales and marketing practices. The named plaintiff filed the suit on behalf of himself and two subclasses: all IDT Energy customers who were charged a variable rate for their energy from July 2, 2008, and all IDT Energy customers who participated in IDT Energy’s rebate program from July 2, 2008. On December 19, 2014, IDT Energy filed a motion to dismiss the complaint. The named plaintiff filed opposition papers to IDT Energy’s motion to dismiss on March 13, 2015, and on April 10, 2015, IDT Energy filed its reply in further support of its motion to dismiss. The parties are now awaiting a decision from the Court. IDT Energy believes that the claims in this lawsuit are without merit and intends to vigorously defend the action. On July 15, 2014, named plaintiff, Kimberly Aks, commenced a putative class-action lawsuit against IDT Energy, Inc. in New Jersey Superior Court, Essex County, contending that she and other class members were injured as a result of IDT Energy’s alleged unlawful sales and marketing practices. The named plaintiff filed the suit on behalf of herself and all other New Jersey residents who were IDT Energy customers at any time between July 11, 2008 and the present. On November 6, 2014, the Court denied IDT Energy’s motion to dismiss the complaint. The parties are currently engaged in discovery. IDT Energy believes that the claims in this lawsuit are without merit and intends to vigorously defend the action. At September 30, 2015, the Company had an aggregate of $2.5 million accrued for the complaints and lawsuits described above. In addition to the above, the Company may from time to time be subject to legal proceedings that arise in the ordinary course of business. Although there can be no assurance in this regard, the Company does not expect any of those legal proceedings to have a material adverse effect on the Company’s results of operations, cash flows or financial condition. Purchase Commitments The Company had purchase commitments of $10.1 million at September 30, 2015. Renewable Energy Credits GRE must obtain a certain percentage or amount of its power supply from renewable energy sources in order to meet the requirements of renewable portfolio standards in the states in which it operates. This requirement may be met by obtaining renewable energy credits that provide evidence that electricity has been generated by a qualifying renewable facility or resource. At September 30, 2015, GRE had commitments to purchase renewable energy credits of $33.4 million. Tax Audits The Company is subject to audits in various jurisdictions for various taxes. Amounts asserted by taxing authorities or the amount ultimately assessed against the Company could be greater than accrued amounts. Accordingly, additional provisions may be recorded in the future as revised estimates are made or underlying matters are settled or resolved. Imposition of assessments as a result of tax audits could have an adverse effect on the Company’s results of operations, cash flows and financial condition. Letters of Credit At September 30, 2015, the Company had letters of credit outstanding totaling $7.5 million primarily for the benefit of regional transmission organizations that coordinate the movement of wholesale electricity and for certain utility companies. The letters of credit outstanding at September 30, 2015 expire as follows: $5.8 million in the twelve months ending September 30, 2016 and $1.7 million in the twelve months ending September 30, 2017. Performance Bonds GRE has performance bonds issued through a third party for the benefit of various states in order to comply with the states’ financial requirements for REPs. At September 30, 2015, GRE had aggregate performance bonds of $11.9 million outstanding. Other Contingencies Since 2009, IDT Energy has been a party to a Preferred Supplier Agreement with BP Energy Company (“BP”). The agreement’s termination date has been extended to November 30, 2015. The Company is negotiating with BP and expects to have a new agreement in place by November 30, 2015. Under the arrangement, IDT Energy purchases electricity and natural gas at market rate plus a fee. IDT Energy’s obligations to BP are secured by a security interest in deposits or receivables from utilities in connection with their purchase of IDT Energy’s customer receivables, and in any cash deposits or letters of credit posted in connection with any collateral accounts with BP. IDT Energy’s ability to purchase electricity and natural gas under this agreement is subject to satisfaction of certain conditions including the maintenance of certain covenants. At September 30, 2015, the Company was in compliance with such covenants. At September 30, 2015, restricted cash—short-term of $0.4 million and trade accounts receivable of $26.4 million were pledged to BP as collateral for the payment of IDT Energy’s trade accounts payable to BP of $9.0 million at September 30, 2015.

Revolving Line of Credit

Revolving Line of Credit	9 Months Ended
	Sep. 30, 2015
Revolving Line of Credit [Abstract]
Revolving Line of Credit	Note 11—Revolving Line of Credit As of April 23, 2012, the Company and IDT Energy entered into a Loan Agreement with JPMorgan Chase Bank for a revolving line of credit for up to a maximum principal amount of $25.0 million. The proceeds from the line of credit may be used to provide working capital and for the issuance of letters of credit. The Company agreed to deposit cash in a money market account at JPMorgan Chase Bank as collateral for the line of credit equal to the greater of (a) $10.0 million or (b) the sum of the amount of letters of credit outstanding plus the outstanding principal under the revolving note. The Company is not permitted to withdraw funds or exercise any authority over the required balance in the collateral account. The principal outstanding will bear interest at the lesser of (a) the LIBOR rate multiplied by the statutory reserve rate established by the Board of Governors of the Federal Reserve System plus 1.0% per annum, or (b) the maximum rate per annum permitted by whichever of applicable federal or Texas laws permit the higher interest rate. Interest is payable at least every three months and all outstanding principal and any accrued and unpaid interest is due on the maturity date of April 30, 2016. The Company pays a quarterly unused commitment fee of 0.08% per annum on the difference between $25.0 million and the average daily outstanding principal balance of the note. In addition, as of April 23, 2012, GEIC issued a Corporate Guaranty to JPMorgan Chase Bank whereby GEIC unconditionally guarantees the full payment of all indebtedness of the Company and IDT Energy under the Loan Agreement. At September 30, 2015 and December 31, 2014, there were no amounts borrowed under the line of credit, and cash collateral of $10.0 million was included in “Restricted cash—short-term” in the consolidated balance sheet. In addition, at September 30, 2015 and December 31, 2014, letters of credit of $7.5 million and $7.6 million, respectively, were outstanding.

Recently Adopted Accounting Sta

Recently Adopted Accounting Standard and Recently Issued Accounting Standards Not Yet Adopted	9 Months Ended
	Sep. 30, 2015
Recently Adopted Accounting Standard and Recently Issued Accounting Standards Not Yet Adopted [Abstract]
Recently Adopted Accounting Standard and Recently Issued Accounting Standards Not Yet Adopted	Note 12— Recently Adopted Accounting Standard and Recently Issued Accounting Standards Not Yet Adopted In August 2015, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) specifying that entities would not be precluded from applying the normal purchases and normal sales exception to derivative accounting to forward contracts for the physical delivery of electricity in nodal energy markets that result in parties incurring locational marginal pricing charges or credits. The ASU states that the use of locational marginal pricing by an independent system operator (“ISO”) to determine a transmission charge or credit in a nodal energy market would not constitute a net settlement of a forward contract for the purchase or sale of electricity, even when legal title to the electricity is conveyed to the ISO during transmission. As a result, these contracts could meet the physical delivery criterion in U.S. GAAP and qualify for the normal purchases and normal sales exception to derivative accounting if they meet all of the other criteria. This ASU was effective in August 2015. The adoption of this ASU did not affect the Company’s financial position, results of operations or cash flows. In May 2014, the FASB and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard that will supersede most of the current revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards (“IFRS”). The goals of the revenue recognition project were to clarify and converge the revenue recognition principles under U.S. GAAP and IFRS and to develop guidance that would streamline and enhance revenue recognition requirements. The Company will adopt this standard on January 1, 2018. Entities have the option of using either a full retrospective or modified retrospective approach for the adoption of the standard. The Company is evaluating the impact that the standard will have on its consolidated financial statements. In July 2015, the FASB issued an ASU that simplifies the subsequent measurement of inventory. The amendments in this ASU do not apply to inventory that is measured using last-in, first-out or the retail inventory method. The ASU changes the measurement of inventory to the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company measures its natural gas inventory at weighted average cost. The Company will adopt the amendments in this ASU on January 1, 2017. The Company is evaluating the impact that the ASU will have on its consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements [Abstract]
Balance of assets and liabilities measured at fair value on a recurring basis	Level 1 (1) Level 2 (2) Level 3 (3) Total (in thousands) September 30, 2015 Assets: Derivative contracts $ 271 $ 1,671 $ — $ 1,942 Liabilities: Derivative contracts $ 7 $ 1,855 $ — $ 1,862 December 31, 2014 Assets: Derivative contracts $ 1,001 $ 1,376 $ — $ 2,377 Liabilities: Derivative contracts $ 440 $ 3,563 $ — $ 4,003 (1) – quoted prices in active markets for identical assets or liabilities (2) – observable inputs other than quoted prices in active markets for identical assets and liabilities (3) – no observable pricing inputs in the market
Summary of the change in the balance of the company's assets measured at fair value on a recurring basis using significant unobservable inputs	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Balance, beginning of period $ — $ — $ — $ 62 Total losses (realized or unrealized) included in earnings in “Direct cost of revenues” — — — (62 ) Balance, end of period $ — $ — $ — $ — The amount of total gains or losses for the period included in earnings in “Direct cost of revenues” attributable to the change in unrealized gains or losses relating to assets held at the end of the period $ — $ — $ — $ —

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments [Abstract]
Summarized volume of IDT Energy's outstanding	Commodity Settlement Dates Volume Electricity October 2015 31,680 MWh Electricity November 2015 219,200 MWh Electricity December 2015 186,560 MWh Electricity January 2016 251,200 MWh Electricity February 2016 263,760 MWh Electricity March 2016 79,600 MWh Electricity April 2016 35,200 MWh Natural gas January 2016 1,942,500 Dth Natural gas July 2016 1,110,000 Dth Natural gas August 2016 800,000 Dth
Schedule of fair value of outstanding derivative instruments recorded as assets and liability	Asset Derivatives Balance Sheet Location September 30, 2015 December 31, 2014 (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current assets $ 1,942 $ 2,377 Liability Derivatives Balance Sheet Location September 30, 2015 December 31, 2014 (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Energy hedging contracts $ 1,862 $ 4,003
Effects of derivative instruments on the consolidated statements of operations	Amount of Gain (Loss) Recognized on Derivatives Derivatives not designated Three Months Ended Nine Months Ended or not qualifying as Location of Gain (Loss) September 30, September 30, hedging instruments Recognized on Derivatives 2015 2014 2015 2014 (in thousands) Energy contracts and options Direct cost of revenues $ (427 ) $ (19 ) $ (1,516 ) $ (118 )

Investment in American Shale 22

Investment in American Shale Oil, LLC (Tables)	9 Months Ended
	Sep. 30, 2015
Investment In American Shale Oil, Llc [Abstract]
Summary in the change in balance of the Company's investment in AMSO, LLC	Nine Months Ended September 30, 2015 2014 (in thousands) Balance, beginning of period $ (252 ) $ (252 ) Capital contributions 125 — Equity in the net loss of AMSO, LLC (133 ) — Balance, end of period $ (260 ) $ (252 )
Summarized statements of operations AMSO, LLC	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Operating expenses: General and administrative $ 86 $ 111 $ 302 $ 344 Research and development 1,171 2,025 3,737 6,072 Total operating expenses 1,257 2,136 4,039 6,416 Loss from operations and net loss $ (1,257 ) $ (2,136 ) $ (4,039 ) $ (6,416 )

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Summary of changes in the components of equity	Nine Months Ended Attributable to Genie Noncontrolling Interests Total (in thousands) Balance, December 31, 2014 $ 125,021 $ (5,678 ) $ 119,343 Dividends on preferred stock (1,111 ) — (1,111 ) Dividends declared on common stock ($0.12 per share) (2,950 ) — (2,950 ) Exercise of stock options 174 — 174 Exercise of GOGAS stock option 5,979 (3,479 ) 2,500 Subsidiary equity grant reclassified to liability (1,200 ) — (1,200 ) Restricted Class B common stock purchased from employees (22 ) — (22 ) Stock-based compensation 3,940 — 3,940 Comprehensive loss: Net loss (3,662 ) (867 ) (4,529 ) Foreign currency translation adjustments (52 ) 2 (50 ) Comprehensive loss (3,714 ) (865 ) (4,579 ) Balance, September 30, 2015 $ 126,117 $ (10,022 ) $ 116,095
Schedule of net income loss and aggregate net funding repaid or provided by company to variable interest entity	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Net income (loss): CCE $ 78 $ 24 $ 142 $ 136 DAD $ (29 ) $ (86 ) $ (166 ) $ (99 ) Tari $ — $ — $ — $ (13 ) Aggregate funding repaid to (provided by) the Company, net $ 28 $ (355 ) $ 869 $ 261
Summarized statements of balance sheets of CCE and DAD	September 30, 2015 December 31, 2014 (in thousands) Assets Cash and cash equivalents $ 57 $ 77 Restricted cash 11 20 Trade accounts receivable 939 1,873 Prepaid expenses 503 480 Other current assets 66 178 Other assets 459 459 Total assets $ 2,035 $ 3,087 Liabilities and noncontrolling interests Current liabilities $ 320 $ 480 Due to IDT Energy 416 1,285 Noncontrolling interests 1,299 1,322 Total liabilities and noncontrolling interests $ 2,035 $ 3,087

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings (Loss) Per Share [Abstract]
Schedule of weighted-average number of shares used in the calculation of basic and diluted earnings (loss) per share	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Basic weighted-average number of shares 22,146 21,224 22,126 21,189 Effect of dilutive securities: Stock options 57 — — — Non-vested restricted Class B common stock 1,419 — — — Diluted weighted-average number of shares 23,622 21,224 22,126 21,189
Schedule of antidilutive shares excluded from computation of earnings per share	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Stock options — 438 415 438 Non-vested restricted Class B common stock — 3,166 2,459 3,166 Shares excluded from the calculation of diluted earnings per share — 3,604 2,874 3,604

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Summary of related party transactions	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Amount IDT charged the Company $ 521 $ 1,195 $ 1,627 $ 2,613 Amount the Company charged IDT $ 142 $ 127 $ 401 $ 402

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Business Segment Information [Abstract]
Operating results for the business segments	(in thousands) GRE GOGAS Afek Corporate Total Three Months Ended September 30, 2015 Revenues $ 52,238 $ — $ — $ — $ 52,238 Income (loss) from operations 8,524 (729 ) (1,842 ) (2,114 ) 3,839 Research and development — 395 11 — 406 Exploration — — 1,531 — 1,531 Equity in the net loss of AMSO, LLC — 133 — — 133 Three Months Ended September 30, 2014 Revenues $ 46,186 $ — $ — $ — $ 46,186 Income (loss) from operations 5,612 (1,642 ) (1,652 ) (6,425 ) (4,107 ) Research and development — 1,443 48 — 1,491 Exploration — — 1,553 — 1,553 Nine Months Ended September 30, 2015 Revenues $ 166,194 $ — $ — $ — $ 166,194 Income (loss) from operations 12,079 (2,423 ) (5,050 ) (6,814 ) (2,208 ) Research and development — 1,599 63 — 1,662 Exploration — — 4,390 — 4,390 Equity in the net loss of AMSO, LLC — 133 — — 133 Nine Months Ended September 30, 2014 Revenues $ 225,345 $ — $ — $ — $ 225,345 Income (loss) from operations 5,643 (4,838 ) (3,661 ) (12,087 ) (14,943 ) Research and development — 3,918 113 — 4,031 Exploration — — 3,482 — 3,482
Summary of business segment aggregate assets	(in thousands) GRE GOGAS Afek Corporate Total Total assets: September 30, 2015 $ 77,907 $ 25,747 $ 28,449 $ 18,126 $ 150,229 December 31, 2014 $ 78,254 $ 48,899 $ 6,243 $ 19,532 $ 152,928

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2015	Sep. 30, 2014
Basis of Presentation (Textual)
Exploration	$ 1,531	$ 1,553				$ 4,390	$ 3,482
Percentage of gas revenue generated in given period			59.00%		49.00%
Percentage of electricity revenue generated in given period		20.00%	45.00%	31.00%
Genie Energy International Corporation [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						99.30%
Genie Retail Energy [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						100.00%
Ownership interest of company	3.90%					3.90%
Genie Oil and Gas, Inc [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						92.00%
Afek Oil and Gas, Ltd. [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						86.90%
Exploration		$ 1,600					$ 3,500
Genie Mongolia [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						88.40%
American Shale Oil L.L.C [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						41.90%
Israel Energy Initiatives, Ltd. [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						86.10%
American Shale Oil Corporation [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary						98.30%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring [Member] - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Assets:
Derivative contracts		$ 1,942	$ 2,377
Liabilities:
Derivative contracts		1,862	4,003
Level 1 (1) [Member]
Assets:
Derivative contracts	[1]	271	1,001
Liabilities:
Derivative contracts	[1]	7	440
Level 2 (2) [Member]
Assets:
Derivative contracts	[2]	1,671	1,376
Liabilities:
Derivative contracts	[2]	$ 1,855	$ 3,563
Level 3 (3) [Member]
Assets:
Derivative contracts	[3]
Liabilities:
Derivative contracts	[3]
[1]	quoted prices in active markets for identical assets or liabilities
[2]	observable inputs other than quoted prices in active markets for identical assets and liabilities
[3]	no observable pricing inputs in the market

Fair Value Measurements (Deta29

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary of the change in the balance of the Company's asset measured at fair value on a recurring basis using significant unobservable inputs (Level 3)
Balance, beginning of period				$ 62
Total losses (realized or unrealized) included in earnings in "Direct cost of revenues"				$ (62)
Balance, end of period
The amount of total gains or losses for the period included in earnings in "Direct cost of revenues" attributable to the change in unrealized gains or losses relating to assets held at the end of the period

Fair Value Measurements (Deta30

Fair Value Measurements (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2011	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements (Textual)
Financial instrument included in other assets		$ 1.5	$ 1.5
GOGAS [Member]
Fair Value Measurements (Textual)
Stock option issued, exercise price	$ 5
Fair value of the GOGAS stock option
Investment options, expiration date	Apr. 9, 2015

Derivative Instruments (Details

Derivative Instruments (Details)	9 Months Ended
	Sep. 30, 2015
Electricity [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	October 2,015
Volume	31,680 MWh
Electricity 1 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	November 2,015
Volume	219,200 MWh
Electricity 2 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	December 2,015
Volume	186,560 MWh
Electricity 3 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	January 2,016
Volume	251,200 MWh
Electricity 4 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	February 2,016
Volume	263,760 MWh
Electricity 5 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	March 2,016
Volume	79,600 MWh
Electricity 6 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Electricity
Settlement Dates	April 2,016
Volume	35,200 MWh
Natural Gas [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Natural gas
Settlement Dates	January 2,016
Volume	1,942,500 Dth
Natural Gas 1 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Natural gas
Settlement Dates	July 2,016
Volume	1,110,000 Dth
Natural Gas 2 [Member]
Summarized volume of IDT Energy's outstanding
Commodity	Natural gas
Settlement Dates	August 2,016
Volume	800,000 Dth

Derivative Instruments (Detai32

Derivative Instruments (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Liability Derivatives, not designated or not qualifying as hedging instruments	$ 1,862	$ 4,003
Energy contracts and options [Member] | Other current assets [Member]
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Asset Derivatives, not designated or not qualifying as hedging instruments	1,942	2,377
Energy contracts and options [Member] | Energy hedging contracts [Member]
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Liability Derivatives, not designated or not qualifying as hedging instruments	$ 1,862	$ 4,003

Derivative Instruments (Detai33

Derivative Instruments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Energy contracts and options [Member] | Direct cost of revenues [Member]
Effects of derivative instruments on the consolidated statements of operations
Amount of Gain (Loss) Recognized on Derivatives	$ (427)	$ (19)	$ (1,516)	$ (118)

Afek Oil and Gas Exploration 34

Afek Oil and Gas Exploration Activities (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)km²	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)km²	Sep. 30, 2014USD ($)
Oil and Gas Exploration Activities (Textual)
Capitalized exploration costs-unproved oil and gas property	$ 17,615		$ 17,615
Exploration costs	$ 1,531	$ 1,553	$ 4,390	$ 3,482
Petroleum exploration license covering area | km²	396.5		396.5
Drilling permit renewed description			On November 2, 2015, the Northern Regional Planning and Building Committee proposed issuance of a two-year extension of Afek's drilling permit commencing a 60-day public comment period. If the permits are finalized, the extension could cover the remainder of Afek's exploratory program of up to ten wells.

Investment in American Shale 35

Investment in American Shale Oil, LLC (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Summary in the change in balance of the Company's investment in AMSO, LLC
Balance, beginning of period		$ (252)	$ (252)
Capital contributions		125
Equity in the net loss of AMSO, LLC	$ (133)	(133)
Balance, end of period	$ (260)	$ (260)	$ (252)

Investment in American Shale 36

Investment in American Shale Oil, LLC (Details 1) - AMSO, LLC [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating expenses:
General and administrative	$ 86	$ 111	$ 302	$ 344
Research and development	1,171	2,025	3,737	6,072
Total operating expenses	1,257	2,136	4,039	6,416
Loss from operations and net loss	$ (1,257)	$ (2,136)	$ (4,039)	$ (6,416)

Investment in American Shale 37

Investment in American Shale Oil, LLC (Details Textual) - USD ($) $ in Millions	6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
AMSO, LLC [Member]
Schedule of investment (Textual)
Percentage of initial expenditure funded by holding company		20.00%
Initial expenditures		$ 50
Percentage of funding provided by holding company for next increased expenditures		35.00%
Amount of expenditures to be funded 35% by holding company		$ 50
Expenditures in excess of this amount to be funded 50% by holding company		$ 100
Percentage of funding to AMSO, LLC's for converting research, development and demonstration lease to a commercial lease		40.00%
Cumulative contributions of AMSO and Total to AMSO, LLC		$ 81.6
Amount of expenditures to be funded by holding company not funded		$ 4.2
New equity method investment ownership percentage after dilution		41.90%
Expenditures in excess of this amount to be funded by holding company dilution percentage		$ 100
New percentage of funding for approved expenditures in excess of $100 million		29.40%
Amount of expenditures not allocated to holding company after dilution			$ 11.8
AMSO, LLC [Member] | Subsequent Event [Member]
Schedule of investment (Textual)
Aggregate amount of expenditures to be funded 38% by holding company	$ 0.3
Percentage of holding company share of required funding paid	38.00%
TOTAL S.A. [Member]
Schedule of investment (Textual)
New equity method investment ownership percentage after dilution		58.10%
New percentage of funding for approved expenditures in excess of $100 million		70.60%

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2014			$ 119,343
Dividends on preferred stock			(1,111)
Dividends declared on common stock ($0.12 per share)			(2,950)
Exercise of stock options			174
Exercise of GOGAS stock option			2,500
Subsidiary equity grant reclassified to liability			(1,200)
Restricted Class B common stock purchased from employees			(22)
Stock-based compensation			3,940
Comprehensive loss:
Net loss	$ 2,626	$ (4,825)	(4,529)	$ (16,978)
Foreign currency translation adjustments	(612)	(397)	(50)	(324)
Comprehensive loss	2,014	$ (5,222)	(4,579)	$ (17,302)
Balance, September 30, 2015	116,095		116,095
Attributable to Genie [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2014			125,021
Dividends on preferred stock			(1,111)
Dividends declared on common stock ($0.12 per share)			(2,950)
Exercise of stock options			174
Exercise of GOGAS stock option			5,979
Subsidiary equity grant reclassified to liability			(1,200)
Restricted Class B common stock purchased from employees			(22)
Stock-based compensation			3,940
Comprehensive loss:
Net loss			(3,662)
Foreign currency translation adjustments			(52)
Comprehensive loss			(3,714)
Balance, September 30, 2015	126,117		126,117
Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2014			$ (5,678)
Dividends on preferred stock
Dividends declared on common stock ($0.12 per share)
Exercise of stock options
Exercise of GOGAS stock option			$ (3,479)
Subsidiary equity grant reclassified to liability
Restricted Class B common stock purchased from employees
Stock-based compensation
Comprehensive loss:
Net loss			$ (867)
Foreign currency translation adjustments			2
Comprehensive loss			(865)
Balance, September 30, 2015	$ (10,022)		$ (10,022)

Equity (Details 1)

Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income (loss):
Aggregate funding repaid to the Company, net	$ 28	$ (355)	$ 869	$ 261
CCE [Member]
Net income (loss):
Net income (loss)	78	24	142	136
DAD [Member]
Net income (loss):
Net income (loss)	$ (29)	$ (86)	$ (166)	(99)
Tari [Member]
Net income (loss):
Net income (loss)				$ (13)

Equity (Details 2)

Equity (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	$ 2,035	$ 3,087
Total liabilities and noncontrolling interests	2,035	3,087
Cash and cash equivalents [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	57	77
Restricted cash [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	11	20
Trade accounts receivable [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	939	1,873
Prepaid expenses [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	503	480
Other current assets [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	66	178
Other assets [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total assets	459	459
Current liabilities [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total liabilities and noncontrolling interests	320	480
Due to IDT Energy [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total liabilities and noncontrolling interests	416	1,285
Noncontrolling interests [Member]
Summarized combined balance sheets of CCE, DAD and Tari
Total liabilities and noncontrolling interests	$ 1,299	$ 1,322

Equity (Details Textual)

Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands

Aug. 14, 2015

May. 15, 2015

May. 09, 2015

May. 05, 2015

Oct. 19, 2015

May. 22, 2015

Mar. 31, 2015

Feb. 15, 2015

Sep. 30, 2015

Sep. 30, 2014

Dec. 31, 2011

May. 07, 2015

Mar. 11, 2013

Equity (Textual)

Common stock dividend

$ 3,000

Number of stock authorized to be repurchased

Remaining number of shares available for repurchase

6,900,000

Proceeds from exercise of stock options

$ 2,500

Cash dividend paid

$ 0.12

Subsidiary equity grant reclassified to liability

$ (1,200)

Chief Executive Officer [Member]

Equity (Textual)

Ownership interest of company

2.80%

Officer [Member]

Equity (Textual)

Ownership interest of company

0.60%

Chief Financial Officer [Member]

Equity (Textual)

Ownership interest of company

0.20%

Executive Vice President [Member]

Equity (Textual)

Ownership interest of company

0.30%

DAD [Member]

Equity (Textual)

Ownership interest

100.00%

Afek Oil and Gas, Ltd. [Member] | Board of Directors Chairman [Member]

Equity (Textual)

Ownership acquire interest of company

1.50%

Israel Energy Initiatives, Ltd. [Member] | Board of Directors Chairman [Member]

Equity (Textual)

Proceeds from exercise of stock options

$ 2,500

Promissory notes

$ 2,500

Promissory notes maturity

November 2,015

promissory notes interest rate

0.43%

promissory notes collateral

Secured by 50% of the shares received in the exercise.

Ownership acquire interest of company

1.50%

Total value of exercise of stock options

$ 5,000

American Shale Oil Corporation [Member] | Board of Directors Chairman [Member]

Equity (Textual)

Ownership acquire interest of company

1.70%

Genie Mongolia [Member] | Board of Directors Chairman [Member]

Equity (Textual)

Ownership acquire interest of company

1.50%

Deferred Stock Units in GRE [Member]

Equity (Textual)

Projected fair value of grants

$ 4,000

Preferred Stock [Member]

Equity (Textual)

Company paid a pro-rated Base Dividend on Series 2012-A Preferred Stock

$ 0.1594

$ 0.1594

$ 0.1594

Preferred stock dividend declared

1,100

$ 1,000

Preferred dividend paid

$ 1,100

$ 1,000

Preferred Stock [Member] | Subsequent Event [Member]

Equity (Textual)

Company's Board of Directors declared a quarterly Base Dividend

$ 0.1594

Dividend declared, date to be paid

Nov. 16, 2015

Dividend declared, record date

Nov. 4, 2015

Common Class A [Member]

Equity (Textual)

Cash dividend paid

$ 0.06

$ 0.06

Common Class B [Member]

Equity (Textual)

Number of stock authorized to be repurchased

7,000,000

Cash dividend paid

$ 0.06

$ 0.06

Common Class B [Member] | 2011 Stock Option and Incentive Plan [Member]

Equity (Textual)

Common stock reserved for future issuance

1,300,000

Shares available for future grants, (Shares)

200,000

Additional number of shares granted

180,000

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings (Loss) Per Share [Abstract]
Basic weighted-average number of shares	22,146	21,224	22,126	21,189
Effect of dilutive securities:
Stock options	57
Non-vested restricted Class B common stock	1,419
Diluted weighted-average number of shares	23,622	21,224	22,126	21,189

Earnings (Loss) Per Share (De43

Earnings (Loss) Per Share (Details 1) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of antidilutive shares excluded from computation of earnings per share
Shares excluded from the calculation of diluted earnings per share		3,604	2,874	3,604
Stock options [Member]
Schedule of antidilutive shares excluded from computation of earnings per share
Shares excluded from the calculation of diluted earnings per share		438	415	438
Non-vested restricted Class B common stock [Member]
Schedule of antidilutive shares excluded from computation of earnings per share
Shares excluded from the calculation of diluted earnings per share		3,166	2,459	3,166

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary of related party transactions
Amount IDT charged the Company	$ 521	$ 1,195	$ 1,627	$ 2,613
Amount the Company charged IDT	$ 142	$ 127	$ 401	$ 402

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating results for the business segments
Revenues	$ 52,238	$ 46,186	$ 166,194	$ 225,345
Income (loss) from operations	3,839	(4,107)	(2,208)	(14,943)
Research and development	406	1,491	1,662	4,031
Exploration	1,531	1,553	4,390	$ 3,482
Equity in the net loss of AMSO, LLC	133		133
Genie Retail Energy [Member]
Operating results for the business segments
Revenues	52,238	46,186	166,194	$ 225,345
Income (loss) from operations	$ 8,524	$ 5,612	$ 12,079	$ 5,643
Research and development
Exploration
Equity in the net loss of AMSO, LLC
Genie Oil and Gas [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	$ (729)	$ (1,642)	$ (2,423)	$ (4,838)
Research and development	$ 395	$ 1,443	$ 1,599	$ 3,918
Exploration
Equity in the net loss of AMSO, LLC	$ 133		$ 133
Afek Oil And Gas Ltd [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	$ (1,842)	$ (1,652)	$ (5,050)	$ (3,661)
Research and development	11	48	63	113
Exploration	$ 1,531	$ 1,553	$ 4,390	$ 3,482
Equity in the net loss of AMSO, LLC
Corporate [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	$ (2,114)	$ (6,425)	$ (6,814)	$ (12,087)
Research and development
Exploration
Equity in the net loss of AMSO, LLC

Business Segment Information 46

Business Segment Information (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Summary total assets for the business segments
Total assets	$ 150,229	$ 152,928
Genie Retail Energy [Member]
Summary total assets for the business segments
Total assets	77,907	78,254
Genie Oil and Gas [Member]
Summary total assets for the business segments
Total assets	25,747	48,899
Afek Oil And Gas Ltd [Member]
Summary total assets for the business segments
Total assets	28,449	6,243
Corporate [Member]
Summary total assets for the business segments
Total assets	$ 18,126	$ 19,532

Business Segment Information 47

Business Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2015Segment
Business Segment Information (Textual)
Number of reportable segments	3
GEIC [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	99.30%
Genie Retail Energy [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	100.00%
Ownership interest of company	3.90%
GOGAS [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	92.00%
AMSO, LLC [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	41.90%
Israel Energy Initiatives Ltd [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	86.10%
Afek Oil and Gas Ltd [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	86.90%
Genie Mongolia [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	88.40%
AMSO [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	98.30%

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Commitments and Contingencies (Textual)
Line of credit facility, amount outstanding	$ 7.5	$ 7.6
Purchase and other commitments	$ 10.1
Line of credit facility expiration, Description	The Company had letters of credit outstanding totaling $7.5 million primarily for the benefit of regional transmission organizations that coordinate the movement of wholesale electricity and for certain utility companies. The letters of credit outstanding at September 30, 2015 expire as follows: $5.8 million in the twelve months ending September 30, 2016 and $1.7 million in the twelve months ending September 30, 2017.
Aggregate amount accrued for complaints and lawsuits	$ 2.5
Letters of credit outstanding amount due in September 30, 2016	5.8
Letters of credit outstanding amount due in September 30, 2017	1.7
Genie Retail Energy [Member]
Commitments and Contingencies (Textual)
Aggregate performance bond outstanding	11.9
Purchase of renewable energy credit	33.4
BP [Member]
Commitments and Contingencies (Textual)
Payment of trade accounts payable to BP Energy	9
Trade Accounts Receivable [Member]
Commitments and Contingencies (Textual)
Assets pledged as collateral to BP Energy	26.4
Restricted Cash [Member]
Commitments and Contingencies (Textual)
Assets pledged as collateral to BP Energy	$ 0.4

Revolving Line of Credit (Detai

Revolving Line of Credit (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Apr. 23, 2012
Revolving Line of Credit (Textual)
Line of credit facility, amount outstanding	$ 7.5	$ 7.6
JPMorgan [Member]
Revolving Line of Credit (Textual)
Maximum principal amount on revolving line of credit			$ 25
Description of line of credit collateral	Equal to the greater of (a) $10.0 million or (b) the sum of the amount of letters of credit outstanding plus the outstanding principal under the revolving note.
Maximum amount of collateral under condition one	$ 10
Interest rate description on principal outstanding	Lesser of (a) the LIBOR rate multiplied by the statutory reserve rate established by the Board of Governors of the Federal Reserve System plus 1.0% per annum, or (b) the maximum rate per annum permitted by whichever of applicable federal or Texas laws permit the higher interest rate.
Quoted margin rate on LIBOR, per annum	1.00%
Extended Maturity Date	Apr. 30, 2016
Quarterly unused commitment fee	0.08%
Line of credit facility, frequency of payment and payment terms	Interest is payable at least every three months
Cash collateral for line of credit	$ 10