Subsequent Event |
12 Months Ended |
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Dec. 31, 2017 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
16. SUBSEQUENT EVENTS The last lifting in 2017 was not completed until January 1, 2018 due to unsafe weather conditions. Net revenues of $6.5 million associated with net volumes delivered to the buyer on January 1, 2018 of 95,525 barrels will be reported as revenue in 2018. The 7.1% increase in the January 2018 lifting price over the December 2017 lifting price positively impacted January’s revenue by $0.5 million.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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