Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 10, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | EVERFLOW EASTERN PARTNERS LP | |
Entity Central Index Key | 0000868082 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 5,549,355 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
CURRENT ASSETS | ||
Cash and equivalents | $ 13,564,149 | $ 12,566,868 |
Investments | 17,229,650 | 17,064,136 |
Production accounts receivable | 1,974,569 | 1,661,669 |
Other | 8,150 | 64,681 |
Total current assets | 32,776,518 | 31,357,354 |
PROPERTY AND EQUIPMENT | ||
Proved properties (successful efforts accounting method) | 175,004,277 | 175,062,777 |
Pipeline and support equipment | 770,520 | 762,440 |
Corporate and other | 2,094,423 | 2,094,423 |
Gross property and equipment | 177,869,220 | 177,919,640 |
Less accumulated depreciation, depletion, amortization and write down | 168,828,622 | 168,754,778 |
Net property and equipment | 9,040,598 | 9,164,862 |
OTHER ASSETS | 126,144 | 125,796 |
TOTAL ASSETS | 41,943,260 | 40,648,012 |
CURRENT LIABILITIES | ||
Accounts payable | 2,084,538 | 1,869,885 |
Accrued expenses | 590,162 | 1,084,347 |
Total current liabilities | 2,674,700 | 2,954,232 |
DEFERRED INCOME TAXES | 40,700 | 40,700 |
OPERATIONAL ADVANCES | 2,267,913 | 2,135,632 |
ASSET RETIREMENT OBLIGATIONS | 16,876,086 | 16,807,486 |
COMMITMENTS AND CONTINGENCIES | ||
LIMITED PARTNERS' EQUITY, SUBJECT TO REPURCHASE RIGHT | ||
Authorized - 8,000,000 Units Issued and outstanding - 5,549,355 Units | 19,843,925 | 18,486,440 |
GENERAL PARTNER'S EQUITY | 239,936 | 223,522 |
Total partners' equity | 20,083,861 | 18,709,962 |
TOTAL LIABILITIES AND PARTNERS' EQUITY | $ 41,943,260 | $ 40,648,012 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares | Mar. 31, 2019 | Dec. 31, 2018 |
Limited partner's equity, units authorized (in shares) | 8,000,000 | 8,000,000 |
Limited partner's equity, units issued (in shares) | 5,549,355 | 5,549,355 |
Limited partner's equity, units outstanding (in shares) | 5,549,355 | 5,549,355 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
REVENUES | ||
Total revenues | $ 2,893,312 | $ 2,206,042 |
DIRECT COST OF REVENUES | ||
Production costs | 857,175 | 733,780 |
Depreciation, depletion and amortization | 114,544 | 139,973 |
Accretion expense | 74,700 | 86,600 |
Total direct cost of revenues | 1,134,318 | 1,046,539 |
GENERAL AND ADMINISTRATIVE EXPENSE | 602,864 | 586,801 |
Total cost of revenues | 1,737,182 | 1,633,340 |
INCOME FROM OPERATIONS | 1,156,130 | 572,702 |
OTHER INCOME | ||
Interest and dividend income | 179,169 | 56,358 |
Gain on disposal of property and equipment | 38,600 | 127,465 |
Total other income | 217,769 | 183,823 |
NET INCOME | 1,373,899 | 756,525 |
Allocation of Partnership Net Income: | ||
Limited Partners | 1,357,485 | 747,548 |
General Partner | 16,414 | 8,977 |
Net income | $ 1,373,899 | $ 756,525 |
Net income per unit (in dollars per share) | $ 0.24 | $ 0.13 |
Oil and Gas [Member] | ||
REVENUES | ||
Total revenues | $ 2,741,196 | $ 2,056,179 |
Oil and Gas Service [Member] | ||
REVENUES | ||
Total revenues | 149,822 | 147,636 |
DIRECT COST OF REVENUES | ||
Well management and operating | 87,899 | 86,186 |
Product and Service, Other [Member] | ||
REVENUES | ||
Total revenues | $ 2,294 | $ 2,227 |
Consolidated Statements of Part
Consolidated Statements of Partners' Equity (unaudited) | USD ($) |
PARTNERS' EQUITY - BEGINNING OF PERIOD at Dec. 31, 2017 | $ 14,273,208 |
Net income | 756,525 |
PARTNERS' EQUITY - END OF PERIOD at Mar. 31, 2018 | 15,029,733 |
PARTNERS' EQUITY - BEGINNING OF PERIOD at Dec. 31, 2018 | 18,709,962 |
Net income | 1,373,899 |
PARTNERS' EQUITY - END OF PERIOD at Mar. 31, 2019 | $ 20,083,861 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 1,373,899 | $ 756,525 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, depletion and amortization | 132,344 | 159,473 |
Accretion expense | 74,700 | 86,600 |
Gain on disposal of property and equipment | (38,600) | (127,465) |
Changes in assets and liabilities: | ||
Production accounts receivable | (312,900) | (123,650) |
Other current assets | 56,531 | 1,846 |
Other assets | (348) | |
Accounts payable | 214,653 | (66,053) |
Accrued expenses | (494,285) | (492,099) |
Operational advances | 132,281 | 128,288 |
Total adjustments | (235,624) | (433,060) |
Net cash provided by operating activities | 1,138,275 | 323,465 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of investments | (165,514) | (3,547,866) |
Payments received on receivables from employees | 31,709 | |
Purchase of property and equipment | (8,080) | |
Proceeds from disposal of property and equipment | 32,600 | 32,400 |
Net cash used in investing activities | (140,994) | (3,483,757) |
NET CHANGE IN CASH AND EQUIVALENTS | 997,281 | (3,160,292) |
CASH AND EQUIVALENTS - BEGINNING OF PERIOD | 12,566,868 | 11,883,725 |
CASH AND EQUIVALENTS - END OF PERIOD | 13,564,149 | 8,723,433 |
Supplemental disclosures of cash flow information and non-cash activities: | ||
Cash paid during the period for income taxes | $ 11,135 | $ 3,600 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1. Organization and Summary of Significant Accounting Policies A. Interim Financial Statements - The interim consolidated financial statements included herein have been prepared by the management of Everflow Eastern Partners, L.P., without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations have been made. The accompanying condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 8 03 X. not 10 not 10 March 27, 2019. The results of operations for the interim periods may not B. Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates impacting the Company’s financial statements include revenue and expense accruals and oil and gas reserve quantities. In the oil and gas industry, and especially as related to the Company’s natural gas sales, the processing of actual transactions generally occurs 60 90 C. Organization - Everflow Eastern Partners, L.P. (“Everflow”) is a Delaware limited partnership which was organized in September 1990 Everflow Management Limited, LLC (“EML”), an Ohio limited liability company, is the general partner of Everflow and, as such, is authorized to perform all acts necessary or desirable to carry out the purposes and conduct of the business of Everflow. The members of EML are Everflow Management Corporation ("EMC"); two one one one September 1990 D. Principles of Consolidation - The consolidated financial statements include the accounts of Everflow, its wholly-owned subsidiaries, including EEI, and interests with joint venture partners (collectively, the “Company”), which are accounted for under the proportional consolidation method. All significant accounts and transactions between the consolidated entities have been eliminated. E. Cash and Equivalents - The Company considers all highly liquid debt instruments purchased with an original maturity of three may may, F. Investments – The Company’s investments consist of shares held in a mutual fund that invests primarily in investment grade, U.S. dollar denominated short-term fixed and floating rate debt securities. The mutual fund seeks current income while seeking to maintain a low volatility of principal. The Financial Accounting Standards Board established a framework for measuring fair value and expanded disclosures about fair value measurements by establishing a fair value hierarchy that prioritizes the inputs and defines valuation techniques used to measure fair value. The hierarchy gives highest priority to Level I inputs and lowest priority to Level III inputs. The three Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date. Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level III – Pricing inputs are unobservable for the financial instrument and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company’s investments are carried at fair market value based on quoted prices available in active markets and are therefore classified as Level 1. G. Operational Advances - The Company collects and maintains funds on behalf of joint venture partners who own working interests in wells of which the Company operates for their anticipated share of future plugging and abandonment costs. As of March 31, 2019 December 31, 2018, $2,267,913 $2,135,632, $380,200 $307,800 March 31, 2019 December 31, 2018, H. Asset Retirement Obligations - GAAP requires the fair value of a liability for an asset retirement obligation to be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. For the Company, these obligations include dismantlement, plugging and abandonment of oil and gas wells and associated pipelines and equipment. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depleted over the estimated useful life of the related asset. The estimated liability is based on historical experience in dismantling, plugging and abandoning wells, estimated remaining lives of those wells based on reserves estimates, estimates of the external cost to dismantle, plug and abandon the wells in the future and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted, risk-free interest rate. Gain on disposal of property and equipment includes approximately $6,000 $110,100 three March 31, 2019 2018, I. Revenue Recognition – The Company accounts for revenue from contracts in accordance with Accounting Standards Update No. 2014 09, 606 For the sale of crude oil and natural gas from operated properties, the Company generally considers each unit (BBL or MCF) to be a separate performance obligation. The transaction price may Crude oil and natural gas sales derived from third Crude oil and natural gas sales represent the Company's share of revenues, net of royalties and other revenue interests owned by other parties. When settling crude oil and natural gas on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. Based on the Company's judgment, the Company's performance obligations have been satisfied and an unconditional right to consideration exists at March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018, The Company utilizes the sales method to account for gas production volume imbalances. Under this method, revenue is recognized only when gas is produced and sold on the Company’s behalf. The Company had no March 31, 2019 December 31, 2018, The Company participates (and may no J. Income Taxes - Everflow is not not The Company believes that it has appropriate support for any tax positions taken and, as such, does not K. Allocation of Income and Per Unit Data - Under the terms of the limited partnership agreement, initially, 99% 1% may 3 Earnings per limited partner Unit have been computed based on the weighted average number of Units outstanding during each period presented. L. New Accounting Standards - The Company has reviewed all recently issued accounting standards in order to determine their effects, if any, on the consolidated financial statements. Based on that review, the Company believes that none |
Note 2 - Current Liabilities
Note 2 - Current Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 2. Current Liabilities The Company’s current liabilities consist of the following at March 31, 2019 December 31, 2018: March 31, December 31, 2019 2018 Accounts Payable: Production and related other $ 1,739,980 $ 1,522,106 Other 295,929 299,150 Joint venture partner deposits 48,629 48,629 Total accounts payable $ 2,084,538 $ 1,869,885 Accrued Expenses: Current portion of asset retirement obligations $ 196,000 $ 196,000 Other 137,800 55,100 Payroll and retirement plan contributions 137,707 692,083 Drilling 106,100 106,100 Federal, state and local taxes 12,555 35,064 Total accrued expenses $ 590,162 $ 1,084,347 |
Note 3 - Partners' Equity
Note 3 - Partners' Equity | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Partners' Capital Notes Disclosure [Text Block] | Note 3. Partners’ Equity Units represent limited partnership interests in Everflow. The Units are transferable subject to the approval of EML and to the laws governing the transfer of securities. The Units are not may The partnership agreement provides that Everflow will repurchase for cash up to 10% May 1 June 30 December 31 66% 10% 2019 December 31, 2018 $1.50 $0.30 April 2019. In June 2018, 68,261 $0.11 not 2017 2016 The Company has an Option Repurchase Plan (the “Option Plan”) which permits the grant of options to select officers and employees to purchase certain Units acquired by the Company pursuant to the Repurchase Right. The purpose of the Option Plan is to assist the Company to attract and retain officers and other key employees and to enable those individuals to acquire or increase their ownership interest in the Company in order to encourage them to promote the growth and profitability of the Company. The Option Plan is designed to align directly the financial interests of the participants with the financial interests of the Unitholders. In June 2018, 30,000 not 2017 2016. All Units repurchased pursuant to the Repurchase Right are retired except for those Units issued through the exercise of options pursuant to the Option Plan. There were 5,549,355 June 2018. no March 31, 2019 2018 |
Note 4 - Commitments and Contin
Note 4 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 4. Commitments and Contingencies The Company operates exclusively in Ohio and Pennsylvania of the United States in the business of oil and gas acquisition, exploration, development and production. The Company operates in an environment with many financial risks, including, but not may The Company has multiple contracts with Dominion Field Services (“Dominion”) which obligate Dominion to purchase, and the Company to sell and deliver, certain quantities of natural gas production from the Company’s oil and gas properties throughout the contract periods. Management believes the Company can meet its delivery commitments based on estimated production. The Company is party to various legal proceedings and claims in the ordinary course of its business. The Company believes that the outcome of these matters will not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Organization Principles of Consolidation [Policy Text Block] | A. Interim Financial Statements - The interim consolidated financial statements included herein have been prepared by the management of Everflow Eastern Partners, L.P., without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations have been made. The accompanying condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 8 03 X. not 10 not 10 March 27, 2019. The results of operations for the interim periods may not |
Use of Estimates, Policy [Policy Text Block] | B. Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates impacting the Company’s financial statements include revenue and expense accruals and oil and gas reserve quantities. In the oil and gas industry, and especially as related to the Company’s natural gas sales, the processing of actual transactions generally occurs 60 90 |
Organization [Policy Text Block] | C. Organization - Everflow Eastern Partners, L.P. (“Everflow”) is a Delaware limited partnership which was organized in September 1990 Everflow Management Limited, LLC (“EML”), an Ohio limited liability company, is the general partner of Everflow and, as such, is authorized to perform all acts necessary or desirable to carry out the purposes and conduct of the business of Everflow. The members of EML are Everflow Management Corporation ("EMC"); two one one one September 1990 |
Consolidation, Policy [Policy Text Block] | D. Principles of Consolidation - The consolidated financial statements include the accounts of Everflow, its wholly-owned subsidiaries, including EEI, and interests with joint venture partners (collectively, the “Company”), which are accounted for under the proportional consolidation method. All significant accounts and transactions between the consolidated entities have been eliminated. |
Cash and Cash Equivalents, Policy [Policy Text Block] | E. Cash and Equivalents - The Company considers all highly liquid debt instruments purchased with an original maturity of three may may, |
Investment, Policy [Policy Text Block] | F. Investments – The Company’s investments consist of shares held in a mutual fund that invests primarily in investment grade, U.S. dollar denominated short-term fixed and floating rate debt securities. The mutual fund seeks current income while seeking to maintain a low volatility of principal. The Financial Accounting Standards Board established a framework for measuring fair value and expanded disclosures about fair value measurements by establishing a fair value hierarchy that prioritizes the inputs and defines valuation techniques used to measure fair value. The hierarchy gives highest priority to Level I inputs and lowest priority to Level III inputs. The three Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date. Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level III – Pricing inputs are unobservable for the financial instrument and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company’s investments are carried at fair market value based on quoted prices available in active markets and are therefore classified as Level 1. |
Operational Advances [Policy Text Block] | G. Operational Advances - The Company collects and maintains funds on behalf of joint venture partners who own working interests in wells of which the Company operates for their anticipated share of future plugging and abandonment costs. As of March 31, 2019 December 31, 2018, $2,267,913 $2,135,632, $380,200 $307,800 March 31, 2019 December 31, 2018, |
Asset Retirement Obligation [Policy Text Block] | H. Asset Retirement Obligations - GAAP requires the fair value of a liability for an asset retirement obligation to be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. For the Company, these obligations include dismantlement, plugging and abandonment of oil and gas wells and associated pipelines and equipment. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depleted over the estimated useful life of the related asset. The estimated liability is based on historical experience in dismantling, plugging and abandoning wells, estimated remaining lives of those wells based on reserves estimates, estimates of the external cost to dismantle, plug and abandon the wells in the future and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted, risk-free interest rate. Gain on disposal of property and equipment includes approximately $6,000 $110,100 three March 31, 2019 2018, |
Revenue from Contract with Customer [Policy Text Block] | I. Revenue Recognition – The Company accounts for revenue from contracts in accordance with Accounting Standards Update No. 2014 09, 606 For the sale of crude oil and natural gas from operated properties, the Company generally considers each unit (BBL or MCF) to be a separate performance obligation. The transaction price may Crude oil and natural gas sales derived from third Crude oil and natural gas sales represent the Company's share of revenues, net of royalties and other revenue interests owned by other parties. When settling crude oil and natural gas on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. Based on the Company's judgment, the Company's performance obligations have been satisfied and an unconditional right to consideration exists at March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018, The Company utilizes the sales method to account for gas production volume imbalances. Under this method, revenue is recognized only when gas is produced and sold on the Company’s behalf. The Company had no March 31, 2019 December 31, 2018, The Company participates (and may no |
Income Tax, Policy [Policy Text Block] | J. Income Taxes - Everflow is not not The Company believes that it has appropriate support for any tax positions taken and, as such, does not |
Earnings Per Share, Policy [Policy Text Block] | K. Allocation of Income and Per Unit Data - Under the terms of the limited partnership agreement, initially, 99% 1% may 3 Earnings per limited partner Unit have been computed based on the weighted average number of Units outstanding during each period presented. |
New Accounting Pronouncements, Policy [Policy Text Block] | L. New Accounting Standards - The Company has reviewed all recently issued accounting standards in order to determine their effects, if any, on the consolidated financial statements. Based on that review, the Company believes that none |
Note 2 - Current Liabilities (T
Note 2 - Current Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | March 31, December 31, 2019 2018 Accounts Payable: Production and related other $ 1,739,980 $ 1,522,106 Other 295,929 299,150 Joint venture partner deposits 48,629 48,629 Total accounts payable $ 2,084,538 $ 1,869,885 Accrued Expenses: Current portion of asset retirement obligations $ 196,000 $ 196,000 Other 137,800 55,100 Payroll and retirement plan contributions 137,707 692,083 Drilling 106,100 106,100 Federal, state and local taxes 12,555 35,064 Total accrued expenses $ 590,162 $ 1,084,347 |
Note 1 - Organization and Sum_2
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Cash and Equivalents Maturity Period | 90 days | ||
OPERATIONAL ADVANCES | $ 2,267,913 | $ 2,135,632 | |
Related Party Deposit Liabilities | 380,200 | 307,800 | |
Noncash Settlements of Asset Retirement Obligations | 6,000 | $ 110,100 | |
Gas Balancing Payable | $ 0 | $ 0 | |
Number of Uncertain Tax Positions | 0 | ||
Limited Partner [Member] | |||
Initial Percentage of Revenue and Cost Allocation | 99.00% | ||
General Partner [Member] | |||
Initial Percentage of Revenue and Cost Allocation | 1.00% | ||
Minimum [Member] | |||
Actual Processing Time for Sales Transaction | 60 days | ||
Maximum [Member] | |||
Actual Processing Time for Sales Transaction | 90 days |
Note 2 - Current Liabilities -
Note 2 - Current Liabilities - Components of Accounts Payable and Accrued (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts Payable: | ||
Production and related other | $ 1,739,980 | $ 1,522,106 |
Other | 295,929 | 299,150 |
Joint venture partner deposits | 48,629 | 48,629 |
Total accounts payable | 2,084,538 | 1,869,885 |
Accrued Expenses: | ||
Current portion of asset retirement obligations | 196,000 | 196,000 |
Other | 137,800 | 55,100 |
Payroll and retirement plan contributions | 137,707 | 692,083 |
Drilling | 106,100 | 106,100 |
Federal, state and local taxes | 12,555 | 35,064 |
Total accrued expenses | $ 590,162 | $ 1,084,347 |
Note 3 - Partners' Equity (Deta
Note 3 - Partners' Equity (Details Textual) - $ / shares | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Apr. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Maximum percentage of units to be repurchased | 10.00% | |||||||
Percentage of Adjusted Book Value of Company Allocable to the Repurchase Right Per Unit | 66.00% | |||||||
Minimum Percentage of Outstanding Units Tendered to Use Prorated Method for Calculating Actual Number of Units Acquired | 10.00% | |||||||
Net Repurchase Price of Partner Unit | $ 0.11 | |||||||
Partners' Capital Account, Units, Treasury Units Purchased | 68,261 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 30,000 | 0 | 0 | |||||
Limited Partners' Capital Account, Units Outstanding | 5,549,355 | 5,549,355 | 5,549,355 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | ||||||
Subsequent Event [Member] | ||||||||
Partners Equity Interim Distributions | $ 0.30 | |||||||
Forecast [Member] | ||||||||
Net Repurchase Price of Partner Unit | $ 1.50 |