| Disposal Groups, Including Discontinued Operations |
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THREE MONTHS ENDED |
|
September 30, |
|
2016 |
|
2015 |
|
CO2 Business |
|
Weald Basin |
|
Total |
|
CO2 Business |
|
Weald Basin |
|
Total |
|
(In thousands) |
Revenue |
$ |
143 |
|
|
$ |
— |
|
|
$ |
143 |
|
|
$ |
649 |
|
|
$ |
— |
|
|
$ |
649 |
|
Operating, exploration and general and administrative expenses |
45 |
|
|
— |
|
|
45 |
|
|
1,329 |
|
|
99 |
|
|
1,428 |
|
Depletion, depreciation, amortization and accretion |
— |
|
|
— |
|
|
— |
|
|
179 |
|
|
— |
|
|
179 |
|
Interest expense and other disposal costs |
301 |
|
|
— |
|
|
301 |
|
|
65 |
|
|
— |
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|
65 |
|
Total expenses |
346 |
|
|
— |
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|
346 |
|
|
1,573 |
|
|
99 |
|
|
1,672 |
|
Non-controlling interest |
(36 |
) |
|
— |
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|
(36 |
) |
|
12 |
|
|
— |
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|
12 |
|
Loss from discontinued operations before tax |
(239 |
) |
|
— |
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|
(239 |
) |
|
(912 |
) |
|
(99 |
) |
|
(1,011 |
) |
Gain on disposal of discontinued operations before tax |
— |
|
|
1,069 |
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|
1,069 |
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|
— |
|
|
— |
|
|
— |
|
Income tax expense (benefit) |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
— |
|
Net income (loss) from discontinued operations, net of tax |
$ |
(239 |
) |
|
$ |
1,069 |
|
|
$ |
830 |
|
|
$ |
(912 |
) |
|
$ |
(99 |
) |
|
$ |
(1,011 |
) |
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September 30,
2016 |
|
June 30,
2016 |
|
CO2 Business |
|
Weald Basin |
|
Total |
|
CO2 Business |
|
Weald Basin |
|
Total |
|
(In thousands) |
Assets sold: |
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|
Cash |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
141 |
|
|
$ |
— |
|
|
$ |
141 |
|
Accounts receivable |
198 |
|
|
— |
|
|
198 |
|
|
249 |
|
|
— |
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|
249 |
|
Inventories |
242 |
|
|
295 |
|
|
537 |
|
|
232 |
|
|
301 |
|
|
533 |
|
Other classes of current assets that are not major |
38 |
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|
— |
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|
38 |
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|
34 |
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|
— |
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|
34 |
|
Property and equipment, net |
24,294 |
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|
795 |
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|
25,089 |
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|
23,941 |
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|
812 |
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|
24,753 |
|
Other classes of assets that are not major |
204 |
|
|
— |
|
|
204 |
|
|
332 |
|
|
— |
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|
332 |
|
Total assets of the disposal groups |
$ |
24,976 |
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|
$ |
1,090 |
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|
$ |
26,066 |
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|
$ |
24,929 |
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|
$ |
1,113 |
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$ |
26,042 |
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Liabilities sold: |
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Accounts payable |
$ |
1,469 |
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|
$ |
648 |
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$ |
2,117 |
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$ |
1,594 |
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|
$ |
670 |
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|
$ |
2,264 |
|
Note payable |
5,500 |
|
|
— |
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|
5,500 |
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|
5,500 |
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|
— |
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|
5,500 |
|
Asset retirement obligations |
2,818 |
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|
— |
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|
2,818 |
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|
2,818 |
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|
— |
|
|
2,818 |
|
Other classes of liabilities that are not major |
55 |
|
|
— |
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|
55 |
|
|
56 |
|
|
— |
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|
56 |
|
Total liabilities of the disposal groups |
$ |
9,842 |
|
|
$ |
648 |
|
|
$ |
10,490 |
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|
$ |
9,968 |
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|
$ |
670 |
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$ |
10,638 |
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Consideration: |
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Series A Preferred Stock exchanged |
$ |
23,501 |
|
|
$ |
— |
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Secured promissory note forgiven |
625 |
|
|
— |
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Cash received |
900 |
|
|
586 |
|
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|
Stock of UKOG received |
— |
|
|
925 |
|
|
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Total consideration |
$ |
25,026 |
|
|
$ |
1,511 |
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Contribution to equity from preferred stockholder |
$ |
9,892 |
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Gain on disposal of discontinued operations, net of tax |
|
|
$ |
1,069 |
|
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