PrimeEnergy Resources (PNRG) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 10, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	PNRG
Entity Registrant Name	PRIMEENERGY CORP
Entity Central Index Key	56,868
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,293,864

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - Unaudited - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 5,397	$ 9,750
Restricted cash and cash equivalents	3,103	3,513
Accounts receivable, net	7,534	9,543
Other current assets	886	815
Total Current Assets	16,920	23,621
Property and Equipment, at cost
Oil and gas properties (successful efforts method), net	187,159	190,916
Field and office equipment, net	9,396	11,095
Total Property and Equipment, Net	196,555	202,011
Other Assets	452	629
Total Assets	213,927	226,261
Current Liabilities
Accounts payable	10,480	12,355
Accrued liabilities	10,310	6,122
Current portion of long-term debt	68,186	3,059
Current portion of asset retirement and other long-term obligations	1,438	1,435
Derivative liability short-term	339	7
Due to related parties	22
Total Current Liabilities	90,775	22,978
Long-Term Bank Debt	3,143	92,581
Asset Retirement Obligations	11,296	10,452
Derivative liability long-term	521
Deferred Income Taxes	38,997	37,349
Total Liabilities	144,732	163,360
Commitments and Contingencies
Equity
Common stock, $.10 par value; Authorized: 4,000,000 shares, issued: 3,836,397 shares	383	383
Paid-in capital	8,171	7,854
Retained earnings	98,467	92,878
Accumulated other comprehensive loss, net		(5)
Treasury stock, at cost; 1,542,433 shares and 1,531,713 shares	(45,889)	(45,380)
Total Stockholders' Equity - PrimeEnergy	61,132	55,730
Non-controlling interest	8,063	7,171
Total Equity	69,195	62,901
Total Liabilities and Equity	$ 213,927	$ 226,261

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets - Unaudited (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	3,836,397	3,836,397
Treasury stock, shares	1,542,433	1,531,713

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - Unaudited - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Oil and gas sales	$ 11,557	$ 10,607	$ 27,395	$ 37,160
Realized gain on derivative instruments, net		5,494		14,939
Field service income	3,694	5,507	11,628	16,497
Administrative overhead fees	1,600	2,036	4,990	6,399
Unrealized loss on derivative instruments, net	(354)	(2,147)	(354)	(11,252)
Other income	2	1	59	52
Total Revenues	16,499	21,498	43,718	63,795
Costs and Expenses
Lease operating expense	6,285	8,827	21,758	27,040
Field service expense	2,662	4,667	9,582	13,553
Depreciation, depletion, amortization and accretion on discounted liabilities	7,308	5,648	18,889	16,786
General and administrative expense	2,405	2,783	6,685	9,271
Total Costs and Expenses	18,660	21,925	56,914	66,650
Gain on Sale and Exchange of Assets	10,546	156	26,869	1,373
Income (Loss) from Operations	8,385	(271)	13,673	(1,482)
Other Income and Expenses
Less: Interest expense	1,002	881	2,809	2,747
Add: Interest income		2		2
Income (Loss) Before Provision for Income Taxes	7,383	(1,150)	10,864	(4,227)
Provision (Benefit) for Income Taxes	2,667	(310)	3,036	(1,331)
Net Income (Loss)	4,716	(840)	7,828	(2,896)
Less: Net Income (Loss) Attributable to Non-Controlling Interests	(208)	(185)	2,239	(321)
Net (Loss) income Attributable to PrimeEnergy	$ 4,924	$ (655)	$ 5,589	$ (2,575)
Basic Income (Loss) Per Common Share	$ 2.15	$ (0.28)	$ 2.44	$ (1.11)
Diluted Income (Loss) Per Common Share	$ 1.62	$ (0.28)	$ 1.83	$ (1.11)

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Comprehensive Income - Unaudited - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 7,828	$ (2,896)
Other Comprehensive Income, net of taxes:
Changes in fair value of hedge positions, net of taxes of $(2) and $27, respectively	5	43
Total other comprehensive income	5	43
Comprehensive Income (Loss)	7,833	(2,853)
Less: Comprehensive Loss Attributable to Non-Controlling Interest	(2,239)	(321)
Comprehensive Income (Loss) Attributable to PrimeEnergy	$ 5,594	$ (2,532)

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Comprehensive Income - Unaudited (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Changes in fair value of hedge positions, tax	$ (2)	$ 27

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Equity - Unaudited - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total Stockholders' Equity - PrimeEnergy [Member]	Non-Controlling Interest [Member]
Balance at Dec. 31, 2015	$ 62,901	$ 383	$ 7,854	$ 92,878	$ (5)	$ (45,380)	$ 55,730	$ 7,171
Balance, shares at Dec. 31, 2015	3,836,397	3,836,397
Repurchase 10,720 shares of common stock	$ (509)					(509)	(509)
Net Income	7,828			5,589			5,589	2,239
Other comprehensive income, net of taxes	5				$ 5		5
Repurchase of non-controlling interests	(187)		317				317	(504)
Distributions to non-controlling interests	(843)							(843)
Balance at Sep. 30, 2016	$ 69,195	$ 383	$ 8,171	$ 98,467		$ (45,889)	$ 61,132	$ 8,063
Balance, shares at Sep. 30, 2016	3,836,397	3,836,397

Condensed Consolidated Stateme8

Condensed Consolidated Statement of Equity - Unaudited (Parenthetical)	9 Months Ended
	Sep. 30, 2016shares
Repurchase of common stock, shares	10,720
Treasury Stock [Member]
Repurchase of common stock, shares	10,720
Total Stockholders' Equity - PrimeEnergy [Member]
Repurchase of common stock, shares	10,720

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net Income (Loss)	$ 7,828	$ (2,896)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion on discounted liabilities	18,889	16,786
Gain on sale of properties	(26,869)	(1,373)
Unrealized (gain) loss on derivative instruments, net	354	11,252
Provision (benefit) for deferred income taxes	1,648	(1,660)
Changes in assets and liabilities:
Decrease in accounts receivable	2,009	675
(Increase) decrease in other assets	(612)	276
Decrease in accounts payable	(2,497)	(4,932)
Increase (decrease) in accrued liabilities	4,188	(4,601)
Increase in due to/from related parties	22	317
Net Cash Provided by Operating Activities	4,960	13,844
Cash Flows from Investing Activities:
Capital expenditures, including exploration expense	(11,701)	(11,209)
Proceeds from sale of property and equipment	28,238	1,910
Net Cash Provided by (Used in) Investing Activities	16,537	(9,299)
Cash Flows from Financing Activities:
Purchase of stock for treasury	(509)	(1,659)
Purchase of non-controlling interests	(187)	(101)
Proceeds from long-term bank debt and other long-term obligations	9,000	25,700
Repayment of long-term bank debt and other long-term obligations	(33,311)	(32,206)
Distribution to non-controlling interests	(843)	(34)
Net Cash Used in Financing Activities	(25,850)	(8,300)
Net Decrease in Cash and Cash Equivalents	(4,353)	(3,755)
Cash and Cash Equivalents at the Beginning of the Period	9,750	9,209
Cash and Cash Equivalents at the End of the Period	5,397	5,454
Supplemental Disclosures:
Income taxes paid	45	583
Interest paid	$ 2,798	$ 3,044

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	(1) Basis of Presentation: The accompanying condensed consolidated financial statements of PrimeEnergy Corporation (“PEC” or the “Company”) have not been audited by independent public accountants. Pursuant to applicable Securities and Exchange Commission (“SEC”) rules and regulations, the accompanying interim financial statements do not include all disclosures presented in annual financial statements and the reader should refer to the Company’s Form 10-K for the year ended December 31, 2015. In the opinion of management, the accompanying interim condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015, the condensed consolidated results of operations for the three and nine months ended September 30, 2016 and 2015, and the condensed consolidated results of cash flows and equity for the nine months ended September 30, 2016 and 2015. Certain amounts presented in prior period financial statements have been reclassified for consistency with current period presentation. The results for interim periods are not necessarily indicative of annual results. For purposes of disclosure in the condensed consolidated financial statements, subsequent events have been evaluated through the date the statements were issued. Recently Issued Accounting Pronouncements: The FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue recognition Extractivies – Oil and Gas Revenue Recognition. Effective Date, The FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. The FASB issued ASU 2015-03, Interest – Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs Interest – Imputation of Interest (Topic 835): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. The FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes. The FASB issued ASU 2016-02, Leases (Topic 842).

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions and Dispositions	(2) Acquisitions and Dispositions: Historically the Company has repurchased the interests of the partners and trust unit holders in the eighteen oil and gas limited partnerships (the “Partnerships”) and the two asset and business income trusts (the “Trusts”) managed by the Company as general partner and as managing trustee, respectively. The Company purchased such interests in amounts totaling $187,000 and $101,000 for the nine months ended September 30, 2016 and 2015, respectively. During the nine months ended September 30, 2016, the Company has sold or farmed out interests in certain undeveloped oil and natural gas properties through a number of separate, individually negotiated transactions in exchange for cash and a royalty or working interest in both West Texas and Oklahoma. Proceeds under these agreements are $28 million. The Company has entered into an agreement to sell additional acreage for an additional $4 million during the fourth quarter of 2016.

Restricted Cash and Cash Equiva

Restricted Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2016
Cash and Cash Equivalents [Abstract]
Restricted Cash and Cash Equivalents	(3) Restricted Cash and Cash Equivalents: Restricted cash and cash equivalents include $3.1 million and $3.51 million at September 30, 2016 and December 31, 2015, respectively, of cash primarily pertaining to oil and gas revenue payments. There were corresponding accounts payable recorded at September 30, 2016 and December 31, 2015 for these liabilities. Both the restricted cash and the accounts payable are classified as current on the accompanying condensed consolidated balance sheets.

Additional Balance Sheet Inform

Additional Balance Sheet Information	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet Information	(4) Additional Balance Sheet Information: Certain balance sheet amounts are comprised of the following: (Thousands of dollars) September 30, December 31, Accounts Receivable: Joint interest billing $ 1,615 $ 2,667 Trade receivables 1,410 1,452 Oil and gas sales 4,898 3,576 Other 172 2,377 8,085 10,072 Less: Allowance for doubtful accounts (551 ) (529 ) Total $ 7,534 $ 9,543 Accounts Payable Trade $ 2,728 $ 3,289 Royalty and other owners 5,539 5,973 Partner advances 709 1,083 Prepaid drilling deposits 374 390 Other 1,130 1,620 Total $ 10,480 $ 12,355 Accrued Liabilities Compensation and related expenses $ 2,547 $ 2,294 Property costs 5,554 2,851 Other 2,219 977 Total $ 10,310 $ 6,122

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	(5) Property and Equipment: Property and equipment at September 30, 2016 and December 31, 2015 consisted of the following: (Thousands of dollars) September 30, December 31, Proved oil and gas properties, at cost $ 407,827 $ 395,129 Less: Accumulated depletion and depreciation (220,668 ) (204,213 ) Oil and Gas Properties, Net $ 187,159 $ 190,916 Field and office equipment $ 27,462 $ 27,919 Less: Accumulated depreciation (18,066 ) (16,824 ) Field and Office Equipment, Net $ 9,396 $ 11,095 Total Property and Equipment, Net $ 196,555 $ 202,011

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	(6) Debt: Bank Debt: Effective July 30, 2010 the Company entered into a Second Amended and Restated Credit Agreement between Compass Bank as agent and a syndicated group of lenders (“Credit Agreement”). The Credit Agreement has a revolving line of credit and letter of credit facility of up to $250 million with a final maturity date of July 30, 2017. The credit facility is secured by substantially all of the Company’s oil and gas properties. The credit facility is subject to a borrowing base determined by the lenders taking into consideration the estimated value of PEC’s oil and gas properties in accordance with the lenders’ customary practices for oil and gas loans. This process involves reviewing PEC’s estimated proved reserves and their valuation. The borrowing base is redetermined semi-annually, and the available borrowing amount could be increased or decreased as a result of such redetermination. In addition, PEC and the lenders each have at their discretion the right to request the borrowing base be redetermined with a maximum of one such request each year. A revision to PEC’s reserves may prompt such a request on the part of the lenders, which could possibly result in a reduction in the borrowing base and availability under the credit facility. At any time if the sum of the outstanding borrowings and letter of credit exposures exceed the applicable portion of the borrowing base, PEC would be required to repay the excess amount within a prescribed period. At September 30, 2016, the credit facility borrowing base was $80 million with no required monthly reduction amount. The borrowings made within the credit facility may be placed in a base rate loan or LIBO rate loan. The Company’s borrowing rates in the credit facility provide for base rate loans at the prime rate (3.5% at September 30, 2016) plus applicable margin utilization rates that range from 1.75% to 2.50%, and LIBO rate loans at LIBO published rates plus applicable utilization rates (2.75% to 3.50% at September 30, 2016). At September 30, 2016, the Company had in place one LIBO rate loan with an effective rate of 3.77%. At September 30, 2016, the Company had a total of $65 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 4.49% and $15 million available for future borrowings. The combined weighted average interest rate paid on outstanding bank borrowings subject to base rate and LIBO interest was 3.82% for the nine months ended September 30, 2016 as compared to 3.39% for the nine months ended September 30, 2015. The Company’s borrowings under its current credit facility are considered short term debt as the maturity date of the facility is July 30, 2017. The Company entered into interest rate hedge agreements to help manage interest rate exposure. These contracts include interest rate swaps. Interest rate swap transactions generally involve the exchange of fixed and floating rate interest payment obligations without the exchange of the underlying principal amounts. In July 2012, the Company entered into interest swap agreements for a period of two years, which commenced in January 2014, related to $75 million of the Company’s bank debt resulting in a LIBO fixed rate of 0.563% and terminated in January 2016. The Company recorded interest expense and paid $7,000 and $217,000 related to the settlement of interest rate swaps for the nine months ended September 30, 2016 and 2015, respectively. Equipment Loans: On July 31, 2013, the Company entered into a $10.0 million Loan and Security Agreement with JP Morgan Chase Bank (“Equipment Loan”). The Equipment Loan is secured by a portion of the Company’s field service equipment, carries an interest rate of 3.95% per annum, requires monthly payments (principal and interest) of $184,000, and has a final maturity date of July 31, 2018. As of September 30, 2016, the Company had a total of $3.38 million outstanding on this Equipment Loan. On July 29, 2014, the Company entered into additional equipment financing facilities (“Additional Equipment Loans”) totaling $6.0 million with JP Morgan Chase Bank. In August 2014, the Company drew down $4.8 million of this facility that is secured by field service equipment, carries an interest rate of 3.40% per annum, requires monthly payments (principal and interest) of $87,800, and has a final maturity date of July 31, 2019. The remaining $1.2 million under the Additional Equipment Loans was available for interim draws to finance the acquisition of any future field service equipment. In December 2014, the Company made an interim draw of an additional $0.5 million on this facility that is secured by recently purchased field service equipment. Interim draws on this facility carried a floating interest rate, payable monthly at the LIBO published rate plus 2.50% and on June 26, 2015 converted into a fixed term loan requiring monthly payments (principal and interest) of $8,700 with a final maturity date of June 26, 2020. As of September 30, 2016, the Company had a total of $2.95 million outstanding on the Additional Equipment Loans. On September 22, 2016, with the lenders permission, the Company made any required installment payments due for the fourth quarter. The Company paid all installment payments through December 31, 2016.

Other Long-Term Obligations and

Other Long-Term Obligations and Commitments	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Other Long-Term Obligations and Commitments	(7) Other Long-Term Obligations and Commitments: Operating Leases: The Company has several non-cancelable operating leases, primarily for rental of office space, that have a term of more than one year. The future minimum lease payments for the rest of fiscal 2015 and thereafter for the operating leases are as follows: (Thousands of dollars) Operating 2016 $ 202 2017 539 2018 54 Total minimum payments $ 795 Rent expense for office space for the nine months ended September 30, 2016 and 2015 was $677,000 and 571,000, respectively. Asset Retirement Obligation: A reconciliation of the liability for plugging and abandonment costs for the nine months ended September 30, 2016 is as follows: (Thousands of dollars) Asset retirement obligation – December 31, 2015 $ 10,452 Liabilities incurred 608 Liabilities settled (137 ) Accretion expense 373 Asset retirement obligation – September 30, 2016 $ 11,296 The Company’s liability is determined using significant assumptions, including current estimates of plugging and abandonment costs, annual inflation of these costs, the productive life of wells and a risk-adjusted interest rate. Changes in any of these assumptions can result in significant revisions to the estimated asset retirement obligation. Revisions to the asset retirement obligation are recorded with an offsetting change to producing properties, resulting in prospective changes to depreciation, depletion and amortization expense and accretion of discount. Because of the subjectivity of assumptions and the relatively long life of most of the Company’s wells, the costs to ultimately retire the wells may vary significantly from previous estimates.

Contingent Liabilities

Contingent Liabilities	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	(8) Contingent Liabilities: The Company, as managing general partner of the affiliated Partnerships, is responsible for all Partnership activities, including the drilling of development wells and the production and sale of oil and gas from productive wells. The Company also provides the administration, accounting and tax preparation work for the Partnerships, and is liable for all debts and liabilities of the affiliated Partnerships, to the extent that the assets of a given limited Partnership are not sufficient to satisfy its obligations. As of September 30, 2016, the affiliated Partnerships have established cash reserves in excess of their debts and liabilities and the Company believes these reserves will be sufficient to satisfy Partnership obligations. The Company is subject to environmental laws and regulations. Management believes that future expenses, before recoveries from third parties, if any, will not have a material effect on the Company’s financial condition. This opinion is based on expenses incurred to date for remediation and compliance with laws and regulations, which have not been material to the Company’s results of operations. From time to time, the Company is party to certain legal actions 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 the financial position or results of operations of the Company.

Stock Options and Other Compens

Stock Options and Other Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options and Other Compensation	(9) Stock Options and Other Compensation: In May 1989, non-statutory stock options were granted by the Company to four key executive officers for the purchase of shares of common stock. At September 30, 2016 and 2015, remaining options held by two key executive officers on 767,500 shares were outstanding and exercisable at prices ranging from $1.00 to $1.25. According to their terms, the options have no expiration date.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	(10) Related Party Transactions: The Company, as managing general partner or managing trustee, makes an annual offer to repurchase the interests of the partners and trust unit holders in certain of the Partnerships or Trusts. The Company purchased such interests in amounts totaling $187,000 and $101,000 for the nine months ended September 30, 2016 and 2015, respectively. Treasury stock purchases in any reported period may include shares from a related party, which may include members of the Company’s Board of Directors. In 2016, the Company purchased 10,000 shares from a related party Receivables from related parties consist of reimbursable general and administrative costs, lease operating expenses and reimbursement for property development and related costs. These receivables are due from joint venture partners, which may include members of the Company’s Board of Directors. Payables owed to related parties primarily represent receipts collected by the Company as agent for the joint venture partners, which may include members of the Company’s Board of Directors, for oil and gas sales net of expenses.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Financial Instruments	(11) Financial Instruments: Fair Value Measurements: Authoritative guidance on fair value measurements defines fair value, establishes a framework for measuring fair value and stipulates the related disclosure requirements. The Company follows a three-level hierarchy, prioritizing and defining the types of inputs used to measure fair value. The fair values of the Company’s interest rate swaps, natural gas and crude oil price collars and swaps are designated as Level 3. The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015: September 30, 2016 Quoted Prices in Significant Significant Balance as of (Thousands of dollars) Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2016 Assets Commodity derivative contracts $ — $ — $ 506 $ 506 Total assets $ — $ — $ 506 506 Liabilities Commodity derivative contracts — — (860 ) (860 ) Total liabilities $ — $ — $ (860 ) $ (860 ) December 31, 2015 Quoted Prices in Significant Significant Balance as of (Thousands of dollars) Liabilities Interest rate derivative contracts $ — $ — $ (7 ) $ (7 ) Total liabilities $ — $ — $ (7 ) $ (7 ) The derivative contracts were measured based on quotes from the Company’s counterparties. Such quotes have been derived using valuation models that consider various inputs including current market and contractual prices for the underlying instruments, quoted forward prices for natural gas and crude oil, volatility factors and interest rates, such as a LIBOR curve for a similar length of time as the derivative contract term as applicable. These estimates are verified using comparable NYMEX futures contracts or are compared to multiple quotes obtained from counterparties for reasonableness. The significant unobservable inputs for Level 3 derivative contracts include basis differentials and volatility factors. An increase (decrease) in these unobservable inputs would result in an increase (decrease) in fair value, respectively. The Company does not have access to the specific assumptions used in its counterparties’ valuation models. Consequently, additional disclosures regarding significant Level 3 unobservable inputs were not provided. The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2016. (Thousands of dollars) Net Liabilities – December 31, 2015 $ (7 ) Total realized and unrealized (gains) / losses: Included in earnings (a) (354 ) Included in other comprehensive income 7 Purchases, sales, issuances and settlements — Net Liabilities – September 30, 2016 $ (354 ) (a) Derivative instruments are reported in revenues as realized gain/loss and on a separately reported line item captioned unrealized gain/loss on derivative instruments, and interest rate swap instruments are reported as an increase or reduction to interest expense. Derivative Instruments: The Company is exposed to commodity price and interest rate risk, and management considers periodically the Company’s exposure to cash flow variability resulting from the commodity price changes and interest rate fluctuations. Futures, swaps and options are used to manage the Company’s exposure to commodity price risk inherent in the Company’s oil and gas production operations. The Company does not apply hedge accounting to any of its commodity based derivatives. Both realized and unrealized gains and losses associated with derivative instruments are recognized in earnings. Interest rate swap derivatives continue to be treated as cash-flow hedges and are used to fix our float interest rates on existing debt. The value of these interest rate swaps at September 30, 2016 and December 31, 2015 are located, if applicable, in accumulated other comprehensive loss, net of tax. Settlements of the swaps, which began in January 2014 and concluded in January 2016, are recognized within interest expense. The following table sets forth the effect of derivative instruments on the condensed consolidated balance sheets at September 30, 2016 and December 31, 2015: Fair Value (Thousands of dollars) Balance Sheet Location September 30, December 31, Asset Derivatives: Derivatives not designated as cash-flow hedging instruments: Natural gas commodity contracts Other current assets $ 178 $ — Natural gas commodity contracts Other Assets 328 — Total $ 506 $ — Liability Derivatives: Derivatives designated as cash-flow hedging instruments: Interest rate swap contracts Derivative liability short-term $ — $ (7 ) Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term (207 ) — Natural gas commodity contracts Derivative liability short-term (132 ) — Natural gas commodity contracts Derivative liability long-term (197 ) — Crude oil commodity contracts Derivative liability long-term (324 ) — Total $ (860 ) $ (7 ) Total derivative instruments $ (354 ) $ (7 ) The following table sets forth the effect of derivative instruments on the condensed consolidated statement of operations for the nine-month periods ended September 30, 2016 and 2015: (Thousands of dollars) Location of gain (loss) recognized in income Amount of gain/loss 2016 2015 Derivative designated as cash-flow hedge instruments: Interest rate swap contracts Interest expense $ (7 ) $ (217 ) Derivatives not designated as cash-flow hedge instruments Natural gas commodity contracts Unrealized gain (loss) on Derivative instruments, net 177 (1,484 ) Crude oil commodity contracts Unrealized gain (loss) on derivative instruments, net (531 ) (9,768 ) Natural gas commodity contracts Realized gain (loss) on derivative instruments, net — 2,061 Crude oil commodity contracts Realized gain (loss) on derivative instruments, net — 12,878 $ (361 ) $ 3,470

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	(12) Earnings Per Share: Basic earnings per share are computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect per share amounts that would have resulted if dilutive potential common stock had been converted to common stock in gain periods. The following reconciles amounts reported in the financial statements: Nine Months Ended September 30, 2016 2015 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 5,589 2,294,444 $ 2.44 $ (2,575 ) 2,314,704 $ (1.11 ) Effect of dilutive securities: Options (a) — 751,357 — — — — Diluted $ 5,589 3,045,801 $ 1.83 $ (2,575 ) 2,314,704 $ (1.11 ) Three Months Ended September 30, 2016 2015 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 4,924 2,293,964 $ 2.15 $ (655 ) 2,311,873 $ (0.28 ) Effect of dilutive securities: Options (a) — 753,594 — — — Diluted $ 4,924 3,047,558 $ 1.62 $ (655 ) 2,311,873 $ (0.28 ) (a) The effect of the 767,500 outstanding stock options is antidilutive for the nine and three months ended September 30, 2015 due to net loss reported for those periods.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: The FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue recognition Extractivies – Oil and Gas Revenue Recognition. Effective Date, The FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. The FASB issued ASU 2015-03, Interest – Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs Interest – Imputation of Interest (Topic 835): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. The FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes. The FASB issued ASU 2016-02, Leases (Topic 842).

Additional Balance Sheet Info23

Additional Balance Sheet Information (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Balance Sheet Amounts	Certain balance sheet amounts are comprised of the following: (Thousands of dollars) September 30, December 31, Accounts Receivable: Joint interest billing $ 1,615 $ 2,667 Trade receivables 1,410 1,452 Oil and gas sales 4,898 3,576 Other 172 2,377 8,085 10,072 Less: Allowance for doubtful accounts (551 ) (529 ) Total $ 7,534 $ 9,543 Accounts Payable Trade $ 2,728 $ 3,289 Royalty and other owners 5,539 5,973 Partner advances 709 1,083 Prepaid drilling deposits 374 390 Other 1,130 1,620 Total $ 10,480 $ 12,355 Accrued Liabilities Compensation and related expenses $ 2,547 $ 2,294 Property costs 5,554 2,851 Other 2,219 977 Total $ 10,310 $ 6,122

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Components of Property and Equipment	Property and equipment at September 30, 2016 and December 31, 2015 consisted of the following: (Thousands of dollars) September 30, December 31, Proved oil and gas properties, at cost $ 407,827 $ 395,129 Less: Accumulated depletion and depreciation (220,668 ) (204,213 ) Oil and Gas Properties, Net $ 187,159 $ 190,916 Field and office equipment $ 27,462 $ 27,919 Less: Accumulated depreciation (18,066 ) (16,824 ) Field and Office Equipment, Net $ 9,396 $ 11,095 Total Property and Equipment, Net $ 196,555 $ 202,011

Other Long-Term Obligations a25

Other Long-Term Obligations and Commitments (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Summary of Future Minimum Lease Payments for Non-Cancelable Operating Leases	The Company has several non-cancelable operating leases, primarily for rental of office space, that have a term of more than one year. The future minimum lease payments for the rest of fiscal 2015 and thereafter for the operating leases are as follows: (Thousands of dollars) Operating 2016 $ 202 2017 539 2018 54 Total minimum payments $ 795
Reconciliation of Liability for Plugging and Abandonment Costs	A reconciliation of the liability for plugging and abandonment costs for the nine months ended September 30, 2016 is as follows: (Thousands of dollars) Asset retirement obligation – December 31, 2015 $ 10,452 Liabilities incurred 608 Liabilities settled (137 ) Accretion expense 373 Asset retirement obligation – September 30, 2016 $ 11,296

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015: September 30, 2016 Quoted Prices in Significant Significant Balance as of (Thousands of dollars) Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2016 Assets Commodity derivative contracts $ — $ — $ 506 $ 506 Total assets $ — $ — $ 506 506 Liabilities Commodity derivative contracts — — (860 ) (860 ) Total liabilities $ — $ — $ (860 ) $ (860 ) December 31, 2015 Quoted Prices in Significant Significant Balance as of (Thousands of dollars) Liabilities Interest rate derivative contracts $ — $ — $ (7 ) $ (7 ) Total liabilities $ — $ — $ (7 ) $ (7 )
Schedule of Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3	The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2016. (Thousands of dollars) Net Liabilities – December 31, 2015 $ (7 ) Total realized and unrealized (gains) / losses: Included in earnings (a) (354 ) Included in other comprehensive income 7 Purchases, sales, issuances and settlements — Net Liabilities – September 30, 2016 $ (354 ) (a) Derivative instruments are reported in revenues as realized gain/loss and on a separately reported line item captioned unrealized gain/loss on derivative instruments, and interest rate swap instruments are reported as an increase or reduction to interest expense.
Effect of Derivative Instruments on Condensed Consolidated Balance Sheets	The following table sets forth the effect of derivative instruments on the condensed consolidated balance sheets at September 30, 2016 and December 31, 2015: Fair Value (Thousands of dollars) Balance Sheet Location September 30, December 31, Asset Derivatives: Derivatives not designated as cash-flow hedging instruments: Natural gas commodity contracts Other current assets $ 178 $ — Natural gas commodity contracts Other Assets 328 — Total $ 506 $ — Liability Derivatives: Derivatives designated as cash-flow hedging instruments: Interest rate swap contracts Derivative liability short-term $ — $ (7 ) Derivatives not designated as cash-flow hedging instruments: Crude oil commodity contracts Derivative liability short-term (207 ) — Natural gas commodity contracts Derivative liability short-term (132 ) — Natural gas commodity contracts Derivative liability long-term (197 ) — Crude oil commodity contracts Derivative liability long-term (324 ) — Total $ (860 ) $ (7 ) Total derivative instruments $ (354 ) $ (7 )
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations	The following table sets forth the effect of derivative instruments on the condensed consolidated statement of operations for the nine-month periods ended September 30, 2016 and 2015: (Thousands of dollars) Location of gain (loss) recognized in income Amount of gain/loss 2016 2015 Derivative designated as cash-flow hedge instruments: Interest rate swap contracts Interest expense $ (7 ) $ (217 ) Derivatives not designated as cash-flow hedge instruments Natural gas commodity contracts Unrealized gain (loss) on Derivative instruments, net 177 (1,484 ) Crude oil commodity contracts Unrealized gain (loss) on derivative instruments, net (531 ) (9,768 ) Natural gas commodity contracts Realized gain (loss) on derivative instruments, net — 2,061 Crude oil commodity contracts Realized gain (loss) on derivative instruments, net — 12,878 $ (361 ) $ 3,470

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) per Share	The following reconciles amounts reported in the financial statements: Nine Months Ended September 30, 2016 2015 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 5,589 2,294,444 $ 2.44 $ (2,575 ) 2,314,704 $ (1.11 ) Effect of dilutive securities: Options (a) — 751,357 — — — — Diluted $ 5,589 3,045,801 $ 1.83 $ (2,575 ) 2,314,704 $ (1.11 ) Three Months Ended September 30, 2016 2015 Net Income Weighted Per Share Net Income Weighted Per Share Basic $ 4,924 2,293,964 $ 2.15 $ (655 ) 2,311,873 $ (0.28 ) Effect of dilutive securities: Options (a) — 753,594 — — — Diluted $ 4,924 3,047,558 $ 1.62 $ (655 ) 2,311,873 $ (0.28 ) (a) The effect of the 767,500 outstanding stock options is antidilutive for the nine and three months ended September 30, 2015 due to net loss reported for those periods.

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)PartnershipTrust	Sep. 30, 2015USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Number of limited partnerships | Partnership	18
Number of business income trusts | Trust	2
Purchase of non-controlling interests	$ 187	$ 101
Proceeds from sale of property and equipment	$ 28,238	$ 1,910
Scenario, Forecast [Member]
Business Acquisition [Line Items]
Available for sale of property and equipment			$ 4,000

Restricted Cash and Cash Equi29

Restricted Cash and Cash Equivalents - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Restricted cash and cash equivalents pertaining to oil and gas revenue payments	$ 3,100	$ 3,510

Additional Balance Sheet Info30

Additional Balance Sheet Information - Components of Balance Sheet Amounts (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts Receivable:
Joint interest billing	$ 1,615	$ 2,667
Trade receivables	1,410	1,452
Oil and gas sales	4,898	3,576
Other	172	2,377
Accounts Receivable, Gross	8,085	10,072
Less: Allowance for doubtful accounts	(551)	(529)
Total	7,534	9,543
Accounts Payable:
Trade	2,728	3,289
Royalty and other owners	5,539	5,973
Partner advances	709	1,083
Prepaid drilling deposits	374	390
Other	1,130	1,620
Total	10,480	12,355
Accrued Liabilities:
Compensation and related expenses	2,547	2,294
Property costs	5,554	2,851
Other	2,219	977
Total	$ 10,310	$ 6,122

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Proved oil and gas properties, at cost	$ 407,827	$ 395,129
Less: Accumulated depletion and depreciation	(220,668)	(204,213)
Oil and Gas Properties, Net	187,159	190,916
Field and office equipment	27,462	27,919
Less: Accumulated depreciation	(18,066)	(16,824)
Field and Office Equipment, Net	9,396	11,095
Total Property and Equipment, Net	$ 196,555	$ 202,011

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jun. 26, 2015	Dec. 31, 2014	Aug. 31, 2014	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Jul. 29, 2014	Jul. 31, 2013
Credit Agreement [Member]
Debt Instrument [Line Items]
Maturity date of amended and restated credit agreement				Jul. 30, 2017
Credit facility borrowing base				$ 80,000,000	$ 80,000,000
Credit facility, interest rate description					The Company's borrowing rates in the credit facility provide for base rate loans at the prime rate (3.5% at September 30, 2016) plus applicable margin utilization rates that range from 1.75% to 2.50%, and LIBO rate loans at LIBO published rates plus applicable utilization rates (2.75% to 3.50% at September 30, 2016). At September 30, 2016, the Company had in place one LIBO rate loan with an effective rate of 3.77%.
Outstanding borrowings under revolving credit facility				$ 65,000,000	$ 65,000,000
Weighted-average interest rate of borrowings				4.49%	4.49%
Credit facility remaining borrowing capacity				$ 15,000,000	$ 15,000,000
Interest swap agreements period					2 years
Settlement of interest rate swaps					$ 7,000	$ 217,000
Additional Equipment Loan [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage			3.40%
Credit facility remaining borrowing capacity			$ 1,200,000
Company's bank debt				2,950,000	$ 2,950,000
Equipment Loan, face amount							$ 6,000,000
Equipment Loan, monthly payment			87,800
Equipment Loan, maturity date					Jul. 31, 2019
Additional equipment Loan, drawings		$ 500,000	$ 4,800,000
Equipment Loan, interest rate description					Interim draws on this facility carried a floating interest rate, payable monthly at the LIBO published rate plus 2.50% and on June 26, 2015 converted into a fixed term loan requiring monthly payments
Revolving Line of Credit and Letter of Credit Facility [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility borrowing capacity				$ 250,000,000	$ 250,000,000
Fixed Term Loan [Member] | Additional Equipment Loan [Member]
Debt Instrument [Line Items]
Equipment Loan, monthly payment	$ 8,700
Equipment Loan, maturity date					Jun. 26, 2020
Prime Rate [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage				3.50%	3.50%
London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage				3.77%	3.77%
London Interbank Offered Rate (LIBOR) [Member] | Additional Equipment Loan [Member]
Debt Instrument [Line Items]
LIBOR rate loans					2.50%
Base Rate And Libor [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument basis weighted average interest rate spread on variable rate				3.82%	3.82%	3.39%
Equipment Loan [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage				3.95%	3.95%
Company's bank debt				$ 3,380,000	$ 3,380,000
Equipment Loan, face amount								$ 10,000,000
Equipment Loan, monthly payment					$ 184,000
Equipment Loan, maturity date					Jul. 31, 2018
Minimum [Member] | Prime Rate [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
LIBOR rate loans					1.75%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
LIBOR rate loans					2.75%
Maximum [Member] | Prime Rate [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
LIBOR rate loans					2.50%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
LIBOR rate loans					3.50%
Interest Rate Swap [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Swap agreement date					2012-07
Commenced date					2014-01
Termination date					2016-01
Company's bank debt				$ 75,000,000	$ 75,000,000
Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate				0.563%	0.563%

Other Long-Term Obligations a33

Other Long-Term Obligations and Commitments - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Lease period description	Term of more than one year
Rent expense for office space	$ 677	$ 571

Other Long-Term Obligations a34

Other Long-Term Obligations and Commitments - Summary of Future Minimum Lease Payments for Non-Cancelable Operating Leases (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 202
2,017	539
2,018	54
Total minimum payments	$ 795

Other Long-Term Obligations a35

Other Long-Term Obligations and Commitments - Reconciliation of Liability for Plugging and Abandonment Costs (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Asset retirement obligation at beginning of period	$ 10,452
Liabilities incurred	608
Liabilities settled	(137)
Accretion expense	373
Asset retirement obligation at end of period	$ 11,296

Stock Options and Other Compe36

Stock Options and Other Compensation - Additional Information (Detail) - Nonstatutory Stock Options [Member]	Sep. 30, 2016Officers$ / sharesshares	Sep. 30, 2015Officers$ / sharesshares	May 31, 1989Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, shares | shares	767,500	767,500
Options exercisable, shares | shares	767,500	767,500
Number of key executive officers to whom non-statutory stock options granted | Officers	2	2	4
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average exercise price | $ / shares	$ 1	$ 1
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average exercise price | $ / shares	$ 1.25	$ 1.25

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 187	$ 101
Treasury stock, shares	1,542,433		1,531,713
Partnership And Trust [Member]
Related Party Transaction [Line Items]
Purchase of non-controlling interests	$ 187	$ 101
Related Party [Member]
Related Party Transaction [Line Items]
Treasury stock, shares	10,000

Financial Instruments - Schedul

Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Derivative assets	$ 506
Liabilities
Derivative liabilities	(860)	$ (7)
Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	506
Liabilities
Derivative liabilities	(860)	(7)
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	506
Liabilities
Derivative liabilities	(860)
Interest Rate Derivative Contracts [Member] | Fair Value, Measurements, Recurring [Member]
Liabilities
Derivative liabilities		(7)
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	506
Liabilities
Derivative liabilities	(860)	(7)
Significant Unobservable Inputs (Level 3) [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivative assets	506
Liabilities
Derivative liabilities	$ (860)
Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Derivative Contracts [Member] | Fair Value, Measurements, Recurring [Member]
Liabilities
Derivative liabilities		$ (7)

Financial Instruments - Sched39

Financial Instruments - Schedule of Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3 (Detail) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Liabilities beginning of period	$ (7)
Total realized and unrealized (gains) / losses:
Included in earnings	(354)	[1]
Included in other comprehensive income	7
Purchases, sales, issuances and settlements	0
Net Liabilities end of period	$ (354)
[1]	Derivative instruments are reported in revenues as realized gain/loss and on a separately reported line item captioned unrealized gain/loss on derivative instruments, and interest rate swap instruments are reported as an increase or reduction to interest expense.

Financial Instruments - Effect

Financial Instruments - Effect of Derivative Instruments on Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative assets	$ 506
Derivative liabilities	(860)	$ (7)
Total derivative instruments	(354)	(7)
Derivatives Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	178
Derivatives Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	328
Derivatives Designated as Cash-Flow Hedging Instruments [Member] | Interest Rate Swap [Member] | Derivative Liability Short-Term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		$ (7)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Derivative Liability Short-Term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(132)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Derivative liability Long Term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(197)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Derivative Liability Short-Term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(207)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Derivative liability Long Term [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ (324)

Financial Instruments - Effec41

Financial Instruments - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	$ (361)	$ 3,470
Derivatives Designated as Cash-Flow Hedging Instruments [Member] | Interest Rate Swap [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	(7)	(217)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Unrealized Gain (Loss) on Derivative Instruments, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	177	(1,484)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Natural Gas Commodity Contracts [Member] | Realized Gain (Loss) on Derivative Instruments, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income		2,061
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Unrealized Gain (Loss) on Derivative Instruments, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income	$ (531)	(9,768)
Derivatives Not Designated as Cash-Flow Hedging Instruments [Member] | Crude Oil Commodity Contracts [Member] | Realized Gain (Loss) on Derivative Instruments, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in income		$ 12,878

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Income(Loss), Basic		$ 4,924	$ (655)	$ 5,589	$ (2,575)
Net Income(Loss), Diluted		$ 4,924	$ (655)	$ 5,589	$ (2,575)
Weighted Average Number of Shares Outstanding, Basic		2,293,964	2,311,873	2,294,444	2,314,704
Weighted Average Number of Shares Outstanding, Options	[1]	753,594		751,357
Weighted Average Number of Shares Outstanding, Diluted		3,047,558	2,311,873	3,045,801	2,314,704
Per Share Amount, Basic		$ 2.15	$ (0.28)	$ 2.44	$ (1.11)
Per Share Amount, Diluted		$ 1.62	$ (0.28)	$ 1.83	$ (1.11)
[1]	The effect of the 767,500 outstanding stock options is antidilutive for the nine and three months ended September 30, 2015 due to net loss reported for those periods.

Earnings per Share - Computat43

Earnings per Share - Computation of Basic and Diluted Earnings (Loss) Per Share (Parenthetical) (Detail) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Earnings Per Share [Abstract]
Antidilutive, stock options	767,500	767,500