Restricted Deposits |
12 Months Ended |
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Dec. 31, 2015 | |
| Receivables [Abstract] | |
| Restricted Deposits |
4. Restricted Deposits Restricted deposits as of December 31, 2015 and 2014 consisted of funds escrowed for the future plugging and abandonment of certain oil and natural gas properties. Pursuant to the Purchase and Sale Agreement with Total E&P USA Inc. (“Total E&P”), security for future plugging and abandonment of certain oil and natural gas properties is required either through surety bonds or payments to an escrow account or a combination thereof. Monthly payments are made to an escrow account and these funds are returned to us once verification is made that the security amount requirements have been met. We were in compliance with the security requirements as of December 31, 2015. See Note 16 for potential future security requirements. |
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- References No definition available.
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- Definition The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction. No definition available.
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