Quarterly report pursuant to Section 13 or 15(d)

Acquisitions

v3.4.0.3
Acquisitions
 3 Months Ended
Mar. 31, 2016
Acquisitions [Abstract]  
Acquisitions



Note 3 - Acquisitions 



Acquisitions were accounted for under the acquisition method of accounting, which involves determining the fair value of the assets acquired and liabilities assumed under the income approach.



2016 acquisitions



On January 18, 2016, the Company completed the acquisition of an additional 4.9% working interest (3.7% net revenue interest) in the Casselman-Bohannon fields for total cash consideration of $9,300, excluding customary purchase price adjustments. Following the completion of this acquisition the Company owned 71.3% working interest (53.5% net revenue interest) in the Casselman-Bohannon fields. The following table summarized the acquisition date fair values of the net assets acquired, including customary purchase price adjustments:







 

 

 

Oil and natural gas properties

 

$

 5,527 

Unevaluated oil and natural gas properties

 

 

 4,656 

   Net assets acquired

 

$

 10,183