Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.10.0.1
Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
NOTE 2 — PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment is comprised of fixed assets and natural gas properties, as shown below (in thousands):
 
June 30, 2018
 
December 31, 2017
Land
$
13,111

 
$
9,491

Proved natural gas properties
90,953

 
90,869

Unproved natural gas properties
10,000

 
13,000

Wells in progress
1,206

 
345

Corporate and other
2,265

 
2,693

Total property, plant and equipment at cost
117,535

 
116,398

Accumulated DD&A
(1,098
)
 
(542
)
Total property, plant and equipment, net
$
116,437

 
$
115,856


Proved Properties
We own producing and non-producing acreage in Northern Louisiana.
Unproved Properties
We own interests in unproved properties in the Weald Basin, United Kingdom through our holding of non-operating interests in two licenses which expire in June and September 2021. We previously held an operating interest in an exploration permit in the Bonaparte Basin, Australia; however, in May 2018, we transferred the permit to a third party for consideration of approximately $0.2 million in cash and the release of approximately $1.3 million in liabilities incurred in connection with a canceled 2017 seismic survey. As a result, we have recognized, within our Condensed Consolidated Statement of Operations, a loss on the transfer of the permit of approximately $1.0 million during the second quarter of 2018.