HKN, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - November 7, 2011

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Note 8 - SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2011
Segment Reporting Disclosure [Text Block]
(8)           SEGMENT INFORMATION

We engage in oil and gas development and production activities in the onshore and offshore Gulf Coast regions of Louisiana. We operate primarily through traditional ownership of mineral interests in the states in which we operate.

We have a separate operating segment for our investment in BWI. BWI holds patents for OHSOL technology and related equipment which can be used to purify oilfield emulsions by breaking and separating the emulsions into oil, water and solids and to reduce the environmental impact for disposition of residual fuels and waste materials. BWI is also currently planning the design and construction of a processing plant on the Alaskan North Slope. Please see Note 2 –“Investment in BriteWater International, LLC” for further discussion.

Our accounting policies for each of our operating segments are the same as those for our consolidated condensed financial statements. Intersegment interest income and intersegment expenses between us and BWI have been eliminated in consolidation. There were no intersegment sales or transfers for the periods presented.

Our financial information, expressed in thousands, for each of our operating segments for the three and nine months ended September 30, 2011 and 2010 is as follows:

   
For the Three Months Ended September 30, 2011
 
                         
   
HKN
   
BWI
   
Eliminations
   
Consolidated
 
                         
Oil and gas revenues
  $ 3,239     $ -     $ -     $ 3,239  
Oil and gas processing and handling income
    405       -       -       405  
Oil and gas operating expenses
    (1,860 )     -       -       (1,860 )
General and administrative expenses
    (710 )     (152 )     -       (862 )
Depreciation, depletion, amortization and accretion
    (900 )     (52 )     -       (952 )
Interest and other expenses
    -       (38 )     38       -  
Interest and other income
    213       -       (38 )     175  
    Segment income (loss) from operations   $  387     $   (242 )    $   -     $   145  
Capital Expenditures
  $ 196     $ 241     $ -     $ 437  
Total Assets
  $ 86,666     $ 8,595     $ (7,429 )   $ 87,832  

   
For the Three Months Ended September 30, 2010
 
                         
   
HKN
   
BWI
   
Eliminations
   
Consolidated
 
                         
Oil and gas revenues
  $ 2,861     $ -     $ -     $ 2,861  
Oil and gas processing and handling income
    316       -       -       316  
Oil and gas operating expenses
    (2,029 )     -       -       (2,029 )
General and administrative expenses
    (610 )     (289 )     -       (899 )
Depreciation, depletion, amortization and accretion
    (806 )     -       -       (806 )
Interest and other expenses
    (22 )     (32 )     32       (22 )
Interest and other income
    161       -       (32 )     129  
Segment loss from operations
  $ (129 )   $ (321 )   $ -     $ (450 )
Capital Expenditures
  $ 651     $ 21     $ -     $ 672  
Total Assets
  $ 64,280     $ 8,945     $ (4,429 )   $ 68,796  

   
For the Nine Months Ended September 30, 2011
 
                         
   
HKN
   
BWI
   
Eliminations
   
Consolidated
 
                         
Oil and gas revenues
  $ 8,256     $ -     $ -     $ 8,256  
Oil and gas processing and handling income
    1,097       -       -       1,097  
Oil and gas operating expenses
    (5,739 )     -       -       (5,739 )
General and administrative expenses
    (2,179 )     (747 )     -       (2,926 )
Depreciation, depletion, amortization and accretion
    (2,022 )     (169 )     -       (2,191 )
Interest and other expenses
    (24 )     (114 )     114       (24 )
Interest and other income
    597       -       (114 )     483  
Segment loss from operations
  $   (14 )    $   (1,030 )    $   -     $   (1,044 ) 
Capital Expenditures
  $ 819     $ 241     $ -     $ 1,060  
Total Assets
  $ 86,666     $ 8,595     $ (7,429 )   $ 87,832  

   
For the Nine Months Ended September 30, 2010
 
                         
   
HKN
   
BWI
   
Eliminations
   
Consolidated
 
                         
Oil and gas revenues
  $ 8,414     $ -     $ -     $ 8,414  
Oil and gas processing and handling income
    923       -       -       923  
Oil and gas operating expenses
    (5,313 )     -       -       (5,313 )
General and administrative expenses
    (1,764 )     (607 )     -       (2,371 )
Depreciation, depletion, amortization and accretion
    (2,300 )     -       -       (2,300 )
Interest and other expenses
    (64 )     (78 )     78       (64 )
Interest and other income
    368       -       (78 )     290  
Equity in losses of Spitfire
    (20 )     -       -       (20 )
Gain on sale of investment
    1,887       -       -       1,887  
Segment income (loss) from operations
  $ 2,131     $ (685 )    $ -     $ 1,446  
Capital Expenditures
  $ 1,967     $ 101     $ -     $ 2,068  
Total Assets
  $ 64,280     $ 8,945     $ (4,429 )   $ 68,796  

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