Related Parties Transactions |
3 Months Ended |
|---|---|
Sep. 30, 2015 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
Note 15 - Related Party Transactions
Devizes International Consulting Limited. A director of Celtique, with which the Company co-owns equally several licenses in the UK, is also the sole owner of Devizes International Consulting Limited ("Devizes"). Devizes performs consulting related services to MPUK. The Company recorded $25 thousand and $81 thousand of consulting fees related to Devizes during the three months ended September 30, 2015, and 2014, respectively.
Mervyn Cowie. Mervyn Cowie, a former employee of the Company's MPA subsidiary, currently serves both as a director of MPA and its subsidiaries and as a consultant to MPA. Since December 1, 2014, the recurring monthly fee payable to Mr. Cowie for his consulting services amounts to AUD $5,400.
Mi3 Petroleum Engineering. In association with its purchase of an option to acquire CO2 from Farnham Dome, on August 14, 2014, the Company formed a subsidiary, Utah CO2. On December 1, 2014, two other non-controlling interest owners became members of Utah CO2, one of which is Mi4 Oil and Gas LLC ("Mi4"), a Colorado limited liability company majority owned by Mi3. Mi3 performs ongoing consulting work for both Utah CO2 and other Magellan entities. During the three months ended September 30, 2015, the Company recorded $123 thousand of consolidated expense related to fees payable to Mi3 for services for the CO2-EOR Pilot. Mi3 was not a related party to the Company prior to December 1, 2014.
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