Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING COSTS

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RESTRUCTURING COSTS
9 Months Ended
Sep. 30, 2015
RESTRUCTURING COSTS [Abstract]  
RESTRUCTURING COSTS
NOTE 12    RESTRUCTURING COSTS

In September 2015, we restructured certain of our operations in response to the current oil and gas commodity environment.  These changes, which included a reduction in workforce, are expected to result in better utilization of our resources and improved cost efficiencies.  We expect substantially all one-time restructuring related costs to be incurred by March 31, 2016 and do not expect these costs to materially affect our cash flows or results of operations.

Type of
Restructuring Cost
 
Location in the
Statement of Operations
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
       
2015
   
2014
 
2015
   
2014
 
Severance and Benefit Costs
 
Operating Expenses – General and Administrative
  $ 523,487     $ -   $ 523,487     $ -  

The following table summarizes our restructuring costs:

Restructuring Liability at January 1, 2015
  $ -  
Additions
    523,487  
Settlements
    (84,431 )
Revisions
    -  
Restructuring Liability at September 30, 2015
  $ 439,056