Annual report pursuant to Section 13 and 15(d)

Capitalization of Interest

Capitalization of Interest
12 Months Ended
Dec. 31, 2014
Banking And Thrift [Abstract]  
Capitalization of Interest



The Company capitalizes interest costs and commitment fees on expenditures made in connection with exploration and development projects that are not subject to current depletion. Interest and commitment fees are capitalized only for the period that activities are in progress to bring these projects to their intended use. For year ended December 31, 2014, the Company incurred interest expense of $1.2 million, in connection with the IFC credit facility. All interest expense was capitalized.