Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 7-May-15 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | HALLADOR ENERGY COMPANY | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -19 | |
Entity Common Stock, Shares Outstanding | 29,043,528 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 788965 | |
Entity Filer Category | Accelerated Filer | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | HNRG |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $11,797 | $13,469 |
Marketable securities | 1,670 | 1,656 |
Accounts receivable | 29,817 | 27,297 |
Prepaid income taxes | 4,365 | 5,791 |
Coal inventory | 23,191 | 19,722 |
Parts and supply inventory | 15,072 | 14,919 |
Other | 612 | 1,555 |
Total current assets | 86,524 | 84,409 |
Coal properties, at cost: | ||
Land and mineral rights | 116,025 | 116,025 |
Buildings and equipment | 331,092 | 323,758 |
Mine development | 124,988 | 124,435 |
Total coal properities, at cost | 572,105 | 564,218 |
Less - accumulated DD&A | -117,806 | -106,608 |
Total coal properties, net | 454,299 | 457,610 |
Other assets (Note 5) | 16,819 | 18,849 |
Total assets | 576,536 | 579,585 |
Current liabilities: | ||
Current portion of bank debt | 24,063 | 21,875 |
Accounts payable and accrued liabilities | 29,029 | 28,105 |
Total current liabilities | 53,092 | 49,980 |
Long-term liabilities: | ||
Bank debt | 267,908 | 284,470 |
Deferred income taxes | 43,577 | 41,581 |
Asset retirement obligations | 12,073 | 12,074 |
Other | 2,880 | 1,605 |
Total long-term liabilities | 326,438 | 339,730 |
Total liabilities | 379,530 | 389,710 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, $.10 par value, 10,000 shares authorized; none issued | ||
Common stock, $.01 par value, 100,000 shares authorized; 28,962 shares outstanding, respectively | 289 | 289 |
Additional paid-in capital | 91,060 | 90,218 |
Retained earnings | 105,394 | 99,003 |
Accumulated other comprehensive income | 263 | 365 |
Total stockholders' equity | 197,006 | 189,875 |
Total liabilities and stockholders' equity | 576,536 | 579,585 |
Savoy [Member] | ||
Current assets: | ||
Total current assets | 11,698 | |
Coal properties, at cost: | ||
Investment in subsidiaries | 14,033 | 13,896 |
Total assets | 39,276 | |
Long-term liabilities: | ||
Total liabilities | 5,538 | |
Stockholders' equity: | ||
Total liabilities and stockholders' equity | 39,276 | |
Sunrise Energy [Member] | ||
Current assets: | ||
Total current assets | 2,659 | |
Coal properties, at cost: | ||
Investment in subsidiaries | 4,861 | 4,821 |
Total assets | 10,458 | |
Long-term liabilities: | ||
Total liabilities | 747 | |
Stockholders' equity: | ||
Total liabilities and stockholders' equity | $10,458 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parentheticals) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value (in dollars per share) | $0.10 | $0.10 |
Preferred stock, issued | 0 | 0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock,par value (in dollars per share) | $0.01 | $0.01 |
Common stock, outstanding | 28,962,000 | 28,962,000 |
Consolidated_Statement_of_Oper
Consolidated Statement of Operations (USD $) | 3 Months Ended | |||
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Revenue: | ||||
Coal sales | $97,073,000 | $33,016,000 | ||
Other income | 752,000 | 283,000 | ||
Revenue | 98,001,000 | 35,767,000 | ||
Costs and expenses: | ||||
Operating costs and expenses | 66,152,000 | 23,005,000 | ||
DD&A | 11,338,000 | 4,959,000 | ||
Coal exploration costs | 708,000 | 665,000 | ||
SG&A | 3,344,000 | 1,971,000 | ||
Interest | 5,456,000 | [1] | 465,000 | [1] |
Costs and expenses | 86,998,000 | 31,065,000 | ||
Income before income taxes | 11,003,000 | 4,702,000 | ||
Less income taxes: | ||||
Current | 1,416,000 | 1,232,000 | ||
Deferred | 1,996,000 | -56,000 | ||
Income taxes | 3,412,000 | 1,176,000 | ||
Net income | 7,591,000 | [2] | 3,526,000 | [2] |
Net income per share: | ||||
Basic and diluted (in Dollars per share) | $0.25 | $0.12 | ||
Weighted average shares outstanding: | ||||
Basic and diluted (in Shares) | 28,962 | 28,757 | ||
Net change in the estimated fair value of interest rate swap | 1,300,000 | |||
Savoy [Member] | ||||
Revenue: | ||||
Equity income (loss) | 136,000 | 2,379,000 | ||
Revenue | 4,360,000 | 12,438,000 | ||
Costs and expenses: | ||||
Costs and expenses | 4,027,000 | 7,161,000 | ||
Less income taxes: | ||||
Net income | 333,000 | 5,277,000 | ||
Sunrise Energy [Member] | ||||
Revenue: | ||||
Equity income (loss) | 40,000 | 89,000 | ||
Revenue | 617,000 | 782,000 | ||
Costs and expenses: | ||||
Costs and expenses | 537,000 | 605,000 | ||
Less income taxes: | ||||
Net income | $80,000 | $177,000 | ||
[1] | Interest expense for 2015 includes $1.3 million for the net change in the estimated fair value of our interest rate swaps. | |||
[2] | There is no material difference between net income and comprehensive income. |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating activities: | ||
Cash provided by operating activities | $21,963 | $6,179 |
Investing activities: | ||
Mining equipment | -8,250 | -2,936 |
Other | 190 | |
Cash used in investing activities | -8,060 | -2,936 |
Financing activities: | ||
Dividends | -1,200 | -1,194 |
Payments on bank debt | -14,375 | |
Cash used in financing activities | -15,575 | -1,194 |
Increase (decrease) in cash and cash equivalents | -1,672 | 2,049 |
Cash and cash equivalents, beginning of period | 13,469 | 16,228 |
Cash and cash equivalents, end of period | $11,797 | $18,277 |
Consolidated_Statement_of_Stoc
Consolidated Statement of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total | ||
In Thousands | |||||||
Balance at Dec. 31, 2014 | $289 | $90,218 | $99,003 | $365 | [1] | $189,875 | |
Balance (in Shares) at Dec. 31, 2014 | 28,962 | ||||||
Stock-based compensation | 852 | 852 | |||||
Other | -10 | -102 | [1] | -112 | |||
Dividends | -1,200 | -1,200 | |||||
Net income (loss) | 7,591 | 7,591 | [2] | ||||
Balance at Mar. 31, 2015 | $289 | $91,060 | $105,394 | $263 | [1] | $197,006 | |
Balance (in Shares) at Mar. 31, 2015 | 28,962 | ||||||
[1] | Accumulated Other Comprehensive Income | ||||||
[2] | There is no material difference between net income and comprehensive income. |
General_Business
General Business | 3 Months Ended |
Mar. 31, 2015 | |
General Business [Abstract] | |
General Business | (1)General Business |
The interim financial data is unaudited; however, in our opinion, it includes all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the results for the interim periods. The financial statements included herein have been prepared pursuant to the SEC’s rules and regulations; accordingly, certain information and footnote disclosures normally included in GAAP financial statements have been condensed or omitted. | |
The results of operations and cash flows for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for future quarters or for the year ending December 31, 2015. To maintain consistency and comparability, certain 2014 amounts have been reclassified to conform to the 2015 presentation. | |
Our organization and business, the accounting policies we follow and other information, are contained in the notes to our consolidated financial statements filed as part of our 2014 Form 10-K. This quarterly report should be read in conjunction with such 10-K. | |
The consolidated financial statements include the accounts of Hallador Energy Company (the Company) and its wholly-owned subsidiary Sunrise Coal, LLC (Sunrise) and Sunrise’s wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. We are engaged in the production of steam coal from mines located in western Indiana. We own a 40% equity interest in Savoy Energy, L.P., a private oil and gas company which has operations in Michigan and a 50% interest in Sunrise Energy, LLC, a private entity engaged in natgas operations in the same vicinity as the Carlisle mine. | |
Bank_Debt
Bank Debt | 3 Months Ended |
Mar. 31, 2015 | |
Bank Debt [Abstract] | |
Bank Debt | (2)Bank Debt |
To finance the Vectren Fuels acquisition, we entered into a credit agreement with PNC Bank as administrative agent for a group of several other banks. The credit agreement allows for a $250 million revolver and a $175 million term loan. Our debt at March 31, 2015 is $292 million (term-$157, revolver-$135). The maximum that we could borrow at March 31, 2015 was $362 million due to the covenants. The credit facility is collateralized by substantially all of Sunrise’s assets and we are the guarantor. Bank fees and other costs incurred in connection with this new facility were about $6.8 million which were deferred and are being amortized over five years. | |
All borrowings under the credit agreement bear interest at LIBOR (18 bps at March 31, 2015) plus 2.25% if the leverage ratio (debt/EBITDA) is less than 1X; LIBOR plus 2.5% if the leverage ratio is over 1X but less than 1.5X; LIBOR plus 2.75% if the ratio is over 1.5X but less than 2X; LIBOR plus 3% if the ratio is over 2X but less than 2.5X and at LIBOR plus 3.5% if the leverage ratio is over 2.5X. The computed ratio at March 31, 2015 was 2.63X. We are required to pay at the highest rate (LIBOR plus 3.5%) through the first quarter of 2015. The maximum leverage ratio is currently 3.25X. We entered into swap agreements to fix the LIBOR component of the interest rate to achieve an effective fixed rate of no greater than 5% on 100% ($175 million) of the term loan and on $100 million of the revolver. The revolver swaps step down 10% each quarter commencing March 31, 2016. At March 31, 2015 these two interest rate swaps had an estimated net fair value liability of $1.967 million consisting of a long term asset of $.311 million and a current liability of $2.278 million. Such amounts are included in other long-term assets and accounts payable and accrued liabilities, respectively. | |
The credit agreement also imposes certain other customary restrictions and covenants as well as certain milestones we must meet in order to draw down the full amount. Any non-tax cash distributions from Savoy are required to be applied toward the debt. The term loan requires quarterly payments with annual amortization at 10%, 15%, 15%, 20%, and 20% with a balloon at maturity. | |
The credit agreement matures on August 29, 2019, but we have the right to prepay the loan at any time without penalty. | |
Investment_in_Sunrise_Energy
Investment in Sunrise Energy (Sunrise Energy [Member]) | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Sunrise Energy [Member] | |||||||||||
Investment | (3)Equity Investment in Sunrise Energy | ||||||||||
We own a 50% interest in Sunrise Energy, LLC, which owns gas reserves and gathering equipment with plans to develop and operate such reserves. Sunrise Energy also plans to develop and explore for coal-bed methane gas reserves on or near our underground coal reserves. They use the successful efforts method of accounting. We account for our interest using the equity method of accounting. | |||||||||||
Below (in thousands) to the 100% is a condensed balance sheet at March 31, and a condensed statement of operations for the three months ended March 31, 2015 and 2014. | |||||||||||
Condensed Balance Sheet | |||||||||||
2015 | |||||||||||
Current assets | $ | 2,659 | |||||||||
Oil and gas properties, net | 7,799 | ||||||||||
$ | 10,458 | ||||||||||
Total liabilities | $ | 747 | |||||||||
Members' capital | 9,711 | ||||||||||
$ | 10,458 | ||||||||||
Condensed Statement of Operations | |||||||||||
2015 | 2014 | ||||||||||
Revenue | $ | 617 | $ | 782 | |||||||
Expenses | (537 | ) | (605 | ) | |||||||
Net income | $ | 80 | $ | 177 | |||||||
Investment_in_Savoy
Investment in Savoy (Savoy [Member]) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Savoy [Member] | |||||||||||||
Investment | (4)Equity Investment in Savoy | ||||||||||||
We currently own a 40% interest in Savoy Energy, L.P., a private company engaged in the oil and gas business primarily in the state of Michigan. Savoy uses the successful efforts method of accounting. Our 45% ownership was decreased to 40% on October 1, 2014 due to the exercise of options by Savoy’s management. We account for our interest using the equity method of accounting. | |||||||||||||
Below (in thousands) to the 100% is a condensed balance sheet at March 31, and a condensed statement of operations for the three months ended March 31, 2015 and 2014. | |||||||||||||
Condensed Balance Sheet | |||||||||||||
2015 | |||||||||||||
Current assets | $ | 11,698 | |||||||||||
Oil and gas properties, net | 27,578 | ||||||||||||
$ | 39,276 | ||||||||||||
Total liabilities | $ | 5,538 | |||||||||||
Partners' capital | 33,738 | ||||||||||||
$ | 39,276 | ||||||||||||
Condensed Statement of Operations | |||||||||||||
2015 | 2014 | ||||||||||||
Revenue | $ | 4,360 | $ | 12,438 | |||||||||
Expenses | -4,027 | -7,161 | |||||||||||
Net income | $ | 333 | $ | 5,277 | |||||||||
Other_LongTerm_Assets
Other Long-Term Assets | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Other Long-Term Assets [Abstract] | ||||||||
Other Long Term Assets | (5)Other Long-Term Assets (in thousands) | |||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Long-term assets: | ||||||||
Advance coal royalties | $ | 5,554 | $ | 5,496 | ||||
Deferred financing costs, net | 6,158 | 6,507 | ||||||
Marketable equity securities available for sale, at fair value (restricted)* | 2,084 | 2,249 | ||||||
Other | 3,023 | 4,597 | ||||||
$ | 16,819 | $ | 18,849 | |||||
____________________ | ||||||||
*Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company. | ||||||||
Self_Insurance
Self Insurance | 3 Months Ended |
Mar. 31, 2015 | |
Self Insurance [Abstract] | |
Self Insurance | (6)Self Insurance |
In late August 2010 we decided to terminate the property insurance on our underground mining equipment. Such equipment is allocated among 13 mining units spread out over 20 miles. The historical cost of such equipment is about $250 million. | |
Net_Income_per_Share
Net Income per Share | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Net Income per Share [Abstract] | ||||||||
Net Income per Share | ||||||||
(7)Net Income per Share | ||||||||
We compute net income per share using the two-class method, which is an allocation formula that determines net income per share for common stock and participating securities, which for us are our outstanding RSUs. Outstanding RSUs have been excluded because the impact would be anti-dilutive. | ||||||||
The following table sets forth the computation of net income per share for the three months ended March 31, 2015 and 2014: | ||||||||
2015 | 2014 | |||||||
Numerator: | ||||||||
Net income | $ | 7,591 | $ | 3,526 | ||||
Less earnings allocated to RSUs | -263 | -127 | ||||||
Net income allocated to common shareholders | $ | 7,328 | $ | 3,399 | ||||
Vectren_Fuels_Acquisition
Vectren Fuels Acquisition | 3 Months Ended |
Mar. 31, 2015 | |
Vectren Fuels Acquisition [Abstract] | |
Vectren Fuels Acquisition | |
(8)Vectren Fuels Acquisition | |
On August 29, 2014, we consummated the acquisition of all the common stock of Vectren Fuels, Inc. for $311 million, which was accounted for as a business acquisition requiring measurement of acquired assets and assumed liabilities at their estimated fair value in applying purchase accounting. The estimated fair values are based on market participant assumptions. | |
Investment_in_Sunrise_Energy_T
Investment in Sunrise Energy (Tables) (Sunrise Energy [Member]) | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Sunrise Energy [Member] | |||||||||||
Condensed Balance Sheet | |||||||||||
Condensed Balance Sheet | |||||||||||
2015 | |||||||||||
Current assets | $ | 2,659 | |||||||||
Oil and gas properties, net | 7,799 | ||||||||||
$ | 10,458 | ||||||||||
Total liabilities | $ | 747 | |||||||||
Members' capital | 9,711 | ||||||||||
$ | 10,458 | ||||||||||
Condensed Statement of Operations | |||||||||||
Condensed Statement of Operations | |||||||||||
2015 | 2014 | ||||||||||
Revenue | $ | 617 | $ | 782 | |||||||
Expenses | (537 | ) | (605 | ) | |||||||
Net income | $ | 80 | $ | 177 | |||||||
Investment_in_Savoy_Tables
Investment in Savoy (Tables) (Savoy [Member]) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Savoy [Member] | |||||||||||||
Condensed Balance Sheet | |||||||||||||
Condensed Balance Sheet | |||||||||||||
2015 | |||||||||||||
Current assets | $ | 11,698 | |||||||||||
Oil and gas properties, net | 27,578 | ||||||||||||
$ | 39,276 | ||||||||||||
Total liabilities | $ | 5,538 | |||||||||||
Partners' capital | 33,738 | ||||||||||||
$ | 39,276 | ||||||||||||
Condensed Statement of Operations | |||||||||||||
Condensed Statement of Operations | |||||||||||||
2015 | 2014 | ||||||||||||
Revenue | $ | 4,360 | $ | 12,438 | |||||||||
Expenses | -4,027 | -7,161 | |||||||||||
Net income | $ | 333 | $ | 5,277 | |||||||||
Other_LongTerm_Assets_Tables
Other Long-Term Assets (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Other Long-Term Assets [Abstract] | ||||||||
Schedule of Long-Term Assets | ||||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Long-term assets: | ||||||||
Advance coal royalties | $ | 5,554 | $ | 5,496 | ||||
Deferred financing costs, net | 6,158 | 6,507 | ||||||
Marketable equity securities available for sale, at fair value (restricted)* | 2,084 | 2,249 | ||||||
Other | 3,023 | 4,597 | ||||||
$ | 16,819 | $ | 18,849 | |||||
____________________ | ||||||||
*Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company. | ||||||||
Net_Income_per_Share_Tables
Net Income per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Net Income per Share [Abstract] | ||||||||
Computation of Earnings per Share | The following table sets forth the computation of net income per share for the three months ended March 31, 2015 and 2014: | |||||||
2015 | 2014 | |||||||
Numerator: | ||||||||
Net income | $ | 7,591 | $ | 3,526 | ||||
Less earnings allocated to RSUs | -263 | -127 | ||||||
Net income allocated to common shareholders | $ | 7,328 | $ | 3,399 | ||||
General_Business_Details
General Business (Details) | Mar. 31, 2015 | Sep. 30, 2014 |
Savoy [Member] | ||
Equity method investment ownership percentage | 40.00% | 45.00% |
Sunrise Energy [Member] | ||
Equity method investment ownership percentage | 50.00% |
Bank_Debt_Details
Bank Debt (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Debt Instrument [Line Items] | |
Leverage ratio | 263.00% |
Debt maturity date | 29-Aug-19 |
Interest rat swaps net fair value | $1,967,000 |
Interest rate swap, long term asset | 311,000 |
Interest rate swap, current liability | 2,278,000 |
PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Closing costs of debt | 6,800,000 |
Loan initiation amortization period | 5 years |
Credit agreement, amount outstanding | 292,000,000 |
Credit facility, maximum borrowing capacity | 362,000,000 |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Maximum leverage ratio | 325.00% |
Revolving Credit Facility [Member] | PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Credit agreement, amount outstanding | 135,000,000 |
Credit facility, maximum borrowing capacity | 250,000,000 |
Term Loan [Member] | Debt Instrument, Redemption, Period Five [Member] | |
Debt Instrument [Line Items] | |
Loan annual amortization | 20.00% |
Term Loan [Member] | Debt Instrument, Redemption, Period Four [Member] | |
Debt Instrument [Line Items] | |
Loan annual amortization | 20.00% |
Term Loan [Member] | Debt Instrument, Redemption, Period One [Member] | |
Debt Instrument [Line Items] | |
Loan annual amortization | 10.00% |
Term Loan [Member] | Debt Instrument, Redemption, Period Three [Member] | |
Debt Instrument [Line Items] | |
Loan annual amortization | 15.00% |
Term Loan [Member] | Debt Instrument, Redemption, Period Two [Member] | |
Debt Instrument [Line Items] | |
Loan annual amortization | 15.00% |
Term Loan [Member] | PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Credit agreement, amount outstanding | 157,000,000 |
Debt face amount | 175,000,000 |
Sunrise Coal [Member] | PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Percentage decrease in amount of debt with maximum interest rate per quarter after commencement date | 10.00% |
Date that the percentage of debt with a maximum interest rate begins to decrease quarterly | 31-Mar-16 |
Sunrise Coal [Member] | Maximum [Member] | PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Interest rate maximum | 5.00% |
Sunrise Coal [Member] | Revolving Credit Facility [Member] | PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Amount of debt with maximum interest rate | 100,000,000 |
Sunrise Coal [Member] | Term Loan [Member] | PNC Bank [Member] | |
Debt Instrument [Line Items] | |
Amount of debt with maximum interest rate | $175,000,000 |
Leverage Ratio Less Than 1 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Debt, interest rate spread on variable rate | 2.25% |
Leverage Ratio Between 1 and 1.5 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Debt, interest rate spread on variable rate | 2.50% |
Leverage Ratio Between 1.5 and 2 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Debt, interest rate spread on variable rate | 2.75% |
Leverage Ratio Between 2 and 2.5 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Debt, interest rate spread on variable rate | 3.00% |
Leverage Ratio Above 2.5 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Debt, interest rate spread on variable rate | 3.50% |
Investment_in_Sunrise_Energy_N
Investment in Sunrise Energy (Narrative) (Details) (Sunrise Energy [Member]) | Mar. 31, 2015 |
Sunrise Energy [Member] | |
Equity method investment ownership percentage | 50.00% |
Investment_in_Sunrise_Energy_C
Investment in Sunrise Energy (Condensed Balance Sheet - Sunrise) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets | $86,524 | $84,409 |
Total assets | 576,536 | 579,585 |
Total liabilities | 379,530 | 389,710 |
Total liabilities and stockholders' equity | 576,536 | 579,585 |
Sunrise Energy [Member] | ||
Current assets | 2,659 | |
Oil and gas properties, net | 7,799 | |
Total assets | 10,458 | |
Total liabilities | 747 | |
Members' capital | 9,711 | |
Total liabilities and stockholders' equity | $10,458 |
Investment_in_Sunrise_Energy_C1
Investment in Sunrise Energy (Condensed Statement of Operations - Sunrise) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Revenue | $98,001 | $35,767 | ||
Expenses | -86,998 | -31,065 | ||
Net income | 7,591 | [1] | 3,526 | [1] |
Sunrise Energy [Member] | ||||
Revenue | 617 | 782 | ||
Expenses | -537 | -605 | ||
Net income | $80 | $177 | ||
[1] | There is no material difference between net income and comprehensive income. |
Investment_in_Savoy_Narrative_
Investment in Savoy (Narrative) (Details) (Savoy [Member]) | Mar. 31, 2015 | Sep. 30, 2014 |
Savoy [Member] | ||
Equity method investment ownership percentage | 40.00% | 45.00% |
Investment_in_Savoy_Condensed_
Investment in Savoy (Condensed Balance Sheet - Savoy) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets | $86,524 | $84,409 |
Total assets | 576,536 | 579,585 |
Total liabilities | 379,530 | 389,710 |
Total liabilities and stockholders' equity | 576,536 | 579,585 |
Savoy [Member] | ||
Current assets | 11,698 | |
Oil and gas properties, net | 27,578 | |
Total assets | 39,276 | |
Total liabilities | 5,538 | |
Partners' capital | 33,738 | |
Total liabilities and stockholders' equity | $39,276 |
Investment_in_Savoy_Condensed_1
Investment in Savoy (Condensed Statement of Operations - Savoy) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Revenue | $98,001 | $35,767 | ||
Expenses | -86,998 | -31,065 | ||
Net income | 7,591 | [1] | 3,526 | [1] |
Savoy [Member] | ||||
Revenue | 4,360 | 12,438 | ||
Expenses | -4,027 | -7,161 | ||
Net income | $333 | $5,277 | ||
[1] | There is no material difference between net income and comprehensive income. |
Other_LongTerm_Assets_Schedule
Other Long-Term Assets (Schedule of Other Long-Term Assets) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Thousands, unless otherwise specified | ||||
Long-term assets: | ||||
Advance coal royalties | $5,554 | $5,496 | ||
Deferred financing costs, net | 6,158 | 6,507 | ||
Marketable equity securities available for sale, at fair value (restricted)* | 2,084 | [1] | 2,249 | [1] |
Other | 3,023 | 4,597 | ||
Long-term assets | $16,819 | $18,849 | ||
[1] | Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company. |
Self_Insurance_Details
Self Insurance (Details) (USD $) | Mar. 31, 2015 | Aug. 31, 2010 |
In Millions, unless otherwise specified | mi | |
site | ||
Self Insurance [Abstract] | ||
Number of mining units with self-insured equipment | 13 | |
Area of self-insured mining units | 20 | |
Mining equipment at historical cost | $250 |
Net_Income_per_Share_Details
Net Income per Share (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Net Income per Share [Abstract] | ||||
Net income (loss) | $7,591 | [1] | $3,526 | [1] |
Less: earnings allocated to RSUs | -263 | -127 | ||
Net income (loss) available to common shareholders | $7,328 | $3,399 | ||
[1] | There is no material difference between net income and comprehensive income. |
Vectren_Fuels_Acquisition_Narr
Vectren Fuels Acquisition (Narrative) (Details) (Vectren Fuels [Member], USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Vectren Fuels [Member] | |
Business Acquisition [Line Items] | |
Business acquisition purchase price | $311 |