of gas . if commodity prices remain at these levels or continue to decline , our revenue and cash flow from operations will also likely decline . in addition , lower commodity prices could also reduce the amount of oil and gas that we can produce economically . if oil and gas prices remain depressed or continue to decline , our revenues , profitability and cash flow from operations will also likely decrease which could cause us to alter our business plans , including reducing our drilling activities . such declines could also require us to write down the carrying value of our oil and gas assets which would also cause a reduction in net income . finally , low commodity prices will likely cause a reduction of the borrowing base under our credit facility . the borrowing base under our credit facility is next scheduled to be redetermined on april 1 , 2016. the realized prices that we receive for our production differ from nymex futures and spot market prices , principally due to : basis differentials which are dependent on actual delivery location ; adjustments for btu content ; quality of the hydrocarbons ; and gathering , processing and transportation costs . the following table sets forth our average differentials for the years ended december 31 , 2013 , 2014 and 2015 : replace_table_token_14_th ( 1 ) average realized prices are before the impact of hedging activities . - the company 's derivative contracts consist of nymex-based fixed price swaps and three-way collar contracts . under fixed price swaps , we receive a fixed price for our production and pay a variable market price to the contract counter-party . three-way collar contracts combine a long put , a short put and a short call . under a collar , we pay the counterparty if the market price is 43 above the ceiling price ( short call ) and the counterparty pays us if the market price is below the floor price ( long put ) . the use of the long put combined with a short put allows us to sell a call at a higher price , thus establishing a higher ceiling and limits our exposure to future settlement payments while also restricting our downward risk to the difference between the long put and the short put if the price drops below the price of the short put . this allows us to settle our contracts for the market price plus the spread between the short put and the long put in a case where the market price has fallen below the short put fixed price . our hedging arrangements equate to approximately 62 % of the estimated oil production from our net proved developed producing reserves ( as of december 31 , 2015 ) through december 31 , 2016 , and 29 % in 2017. by removing a portion of price volatility on our future oil and gas production , we believe we will mitigate , but not eliminate , the potential effects of changing commodity prices on our cash flow from operations for those periods . however , when prevailing market prices are higher than our contract prices , we will not realize increased cash flow on the portion of the production that has been hedged . we have in the past and will in the future sustain realized and unrealized losses on our derivative contracts if market prices are higher than our contract prices . conversely , when prevailing market prices are lower than our contract prices , we will sustain realized and unrealized gains on our commodity derivative contracts . in 2013 , we incurred a net loss of $ 2.5 million , consisting of a loss of $ 5.0 million related to closed contracts and a gain of $ 2.5 million related to open contracts . in 2014 , we incurred a gain of $ 25.2 million , consisting of a gain of $ 0.3 million on closed contracts and a gain of $ 24.9 million related to open contracts . in 2015 we incurred a gain of $ 19.3 million , consisting of a gain of $ 9.5 million on closed contracts and a gain of $ 9.8 million related to open contracts . we have not designated any of these derivative contracts as a hedge as prescribed by applicable accounting rules . the following table sets forth our derivative contracts at december 31 , 2015 : fixed price swaps : replace_table_token_15_th collar contracts combined with short puts ( three way collars ) : daily volume ( bbl ) floor ( long put ) ceiling ( short call ) short put 2016 1,000 $ 60.00 $ 71.00 $ 45.00 at december 31 , 2015 , the aggregate fair market value of our commodity derivative contracts was an asset of approximately $ 27.4 million . production volumes . our proved reserves will decline as oil and gas is produced , unless we find , acquire or develop additional properties containing proved reserves or conduct successful exploration and development activities . based on the reserve information set forth in our reserve estimates as of december 31 , 2015 , our average annual estimated decline rate for our net proved developed producing reserves is 33 % ; 26 % ; 15 % ; 11 % and 10 % in 2017 , 2018 , 2019 , 2020 and 2021 , respectively , 10 % in the next five years , and approximately 12 % thereafter . these rates of decline are estimates and actual production declines could be materially higher . while we have had some success in finding , acquiring and developing additional reserves , we have not always been able to fully replace the production volumes lost from natural field declines and property sales . story_separator_special_tag as of december 31 , 2014 the net capitalized cost of our oil and gas properties did not exceed the present value of our estimated proved reserves . as of december 31 , 2015 , the net capitalized cost of our oil and gas properties exceeded the present value of our estimated proved reserves , resulting in the recognition of an impairment of $ 128.6 million in 2015. the year-end amount was calculated in accordance with sec rules utilizing the twelve month first-day-of-the-month average oil and gas prices for the year ended 2015 which were $ 50.12 per bbl for oil and $ 2.63 per mcf for gas as adjusted to reflect the expected realized prices for our oil and gas reserves . we expect to record an additional impairment of our oil and gas properties during 2016 as a result of declining oil and gas prices . based on the 12-month unweighted average oil and gas prices through march 1 , 2016 of $ 46.04 per bbl of oil and $ 2.48 per mcf of gas being held constant for the trailing 12-month period we estimate that we will record a ceiling test write down on our existing assets of approximately $ 30.1 million at march 31 , 2016 and if such prices do not change during the remainder of 2016 an additional write down of $ 72.7 million for the remainder of the year ending december 31 , 2016. however , whether the amount of any such impairments will be similar in amount to such estimates , is contingent upon many factors such as the price of oil , gas and ngls for the remainder of 2016 , increases or decreases in our reserve base , changes in estimated costs and expenses , and oil and gas property acquisitions , which could increase , decrease or eliminate the need for such impairments . comparison of year ended december 31 , 2014 to year ended december 31 , 2013 operating revenue . during the year ended december 31 , 2014 , operating revenue increased to $ 133.7 million from $ 92.3 million in 2013. the increase in revenue was primarily due to a 68 % increase in oil sales volumes in 2014 as compared to 2013 , offset by lower realized prices for oil and ngl prices . gas sales volumes were down by approximately 13 % ; however the decrease in gas volumes was offset by higher realized gas prices . we also had a significant increase in ngl sales volumes in 2014 as compared to 2013 , which was partially offset by lower realized ngl prices . increased sales volumes of oil and ngl contributed $ 54.0 million to operating revenue . lower gas sales volumes had a negative impact on operating revenue of $ 1.4 million . higher realized prices for gas contributed $ 2.6 million to operating revenue , while lower oil and ngl prices had a negative impact on revenue of $ 13.9 million in 2014. oil sales volumes increased to 1,394 mbbls for the year ended december 31 , 2014 from 829 mbbls for the same period of 2013. the increase in oil sales volumes was due to new production brought on line in 2014. new wells brought onto production in 2014 contributed 722 mbbls to production for the year ended december 31 , 2014 , offset by natural field declines and property sales . gas sales volumes decreased to 2,918 mmcf for the year ended december 31 , 2014 from 3,343 mmcf for the year ended december 31 , 2013. the decrease in gas production was due to natural field declines ; the timing of new wells being brought on line , property sales , as well as our emphasis on drilling oil wells as opposed to gas wells . new wells brought onto production during 2014 contributed 594 mmcf to production for the year ended december 31 , 2014. due to continued weakness in gas prices , our focus during 2014 was primarily on oil and ngl projects . ngl sales increased to 207 mbbls for the year ended december 31 , 2014 from 147 mbbls for the same period of 2013. the increase in ngl sales was primarily due to increased gas production from fields in west texas , wyoming and north dakota that have a higher ngl content than our historical gas production . lease operating expenses . loe for the year ended december 31 , 2014 increased to $ 25.9 million from $ 23.2 million in 2013. the increase in loe was primarily due to increased cost of services , and significant non-recurring loe . the increase was partially offset by sales of producing properties in 2013 , which had higher operating costs . loe per boe for the year ended december 31 , 2014 was $ 12.39 compared to $ 15.13 for the same period of 2013. the decrease in loe per boe was attributable to higher sales volumes in 2014 , partially offset by higher costs . production and ad valorem taxes . production and ad valorem taxes for the year ended december 31 , 2014 increased to $ 11.5 million from $ 8.4 million in 2013. the increase was primarily due to increased production in 2014 as compared to 2013. production and ad valorem taxes as a percentage of oil and gas revenue remained constant at approximately 9 % for the years ended december 31 , 2014 and 2013 . 48 general and administrative expense . g & a expense , excluding stock-based compensation , increased to $ 10.7 million for the year ended december 31 , 2014 from $ 9.9 million in 2013. g & a expense per boe was $ 5.11 for the year ended december 31 , 2014 compared to $ 6.45 for the same period of 2013. the increase in g & a was primarily due to additional personnel and salary increases . stock-based compensation . options granted to employees and

liquidity and capital resources general . the oil and gas industry is a highly capital intensive and cyclical business . our capital requirements are driven principally by our obligations to service debt and to fund the following : the development and exploration of existing properties , including drilling and completion costs of wells ; acquisition of interests in additional oil and gas properties ; and 49 production and transportation facilities . the amount of capital expenditures we are able to make has a direct impact on our ability to increase cash flow from operations and , thereby , will directly affect our ability to service our debt obligations and to grow the business through the development of existing properties and the acquisition of new properties . our principal sources of capital are cash flow from operations , borrowings under our credit facility , cash on hand , proceeds from the sale of properties , and if an opportunity presents itself , the sale of debt or equity securities , although we may not be able to complete any financings on terms acceptable to us , if at all . operating cash flow . our operating cash flow is sensitive to many variables , the most volatile of which is the prices of the oil , gas and ngl we produce and sell . our consolidated cash flow from operations decreased in 2015 as a result of the significant decrease in commodity prices . in spite of this decline , we expect cash flow from operations to continue to be a primary source of liquidity as we adjust our capital program in response to lower commodity prices . commodity prices . prices are determined primarily by prevailing market conditions . regional and worldwide economic activity , weather and other substantially variable factors influence market conditions for these products . these factors , which are difficult to predict , create volatility in prices and are beyond our control .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources general . the oil and gas industry is a highly capital intensive and cyclical business . our capital requirements are driven principally by our obligations to service debt and to fund the following : the development and exploration of existing properties , including drilling and completion costs of wells ; acquisition of interests in additional oil and gas properties ; and 49 production and transportation facilities . the amount of capital expenditures we are able to make has a direct impact on our ability to increase cash flow from operations and , thereby , will directly affect our ability to service our debt obligations and to grow the business through the development of existing properties and the acquisition of new properties . our principal sources of capital are cash flow from operations , borrowings under our credit facility , cash on hand , proceeds from the sale of properties , and if an opportunity presents itself , the sale of debt or equity securities , although we may not be able to complete any financings on terms acceptable to us , if at all . operating cash flow . our operating cash flow is sensitive to many variables , the most volatile of which is the prices of the oil , gas and ngl we produce and sell . our consolidated cash flow from operations decreased in 2015 as a result of the significant decrease in commodity prices . in spite of this decline , we expect cash flow from operations to continue to be a primary source of liquidity as we adjust our capital program in response to lower commodity prices . commodity prices . prices are determined primarily by prevailing market conditions . regional and worldwide economic activity , weather and other substantially variable factors influence market conditions for these products . these factors , which are difficult to predict , create volatility in prices and are beyond our control .
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 Suspicious Activity Report : of gas . if commodity prices remain at these levels or continue to decline , our revenue and cash flow from operations will also likely decline . in addition , lower commodity prices could also reduce the amount of oil and gas that we can produce economically . if oil and gas prices remain depressed or continue to decline , our revenues , profitability and cash flow from operations will also likely decrease which could cause us to alter our business plans , including reducing our drilling activities . such declines could also require us to write down the carrying value of our oil and gas assets which would also cause a reduction in net income . finally , low commodity prices will likely cause a reduction of the borrowing base under our credit facility . the borrowing base under our credit facility is next scheduled to be redetermined on april 1 , 2016. the realized prices that we receive for our production differ from nymex futures and spot market prices , principally due to : basis differentials which are dependent on actual delivery location ; adjustments for btu content ; quality of the hydrocarbons ; and gathering , processing and transportation costs . the following table sets forth our average differentials for the years ended december 31 , 2013 , 2014 and 2015 : replace_table_token_14_th ( 1 ) average realized prices are before the impact of hedging activities . - the company 's derivative contracts consist of nymex-based fixed price swaps and three-way collar contracts . under fixed price swaps , we receive a fixed price for our production and pay a variable market price to the contract counter-party . three-way collar contracts combine a long put , a short put and a short call . under a collar , we pay the counterparty if the market price is 43 above the ceiling price ( short call ) and the counterparty pays us if the market price is below the floor price ( long put ) . the use of the long put combined with a short put allows us to sell a call at a higher price , thus establishing a higher ceiling and limits our exposure to future settlement payments while also restricting our downward risk to the difference between the long put and the short put if the price drops below the price of the short put . this allows us to settle our contracts for the market price plus the spread between the short put and the long put in a case where the market price has fallen below the short put fixed price . our hedging arrangements equate to approximately 62 % of the estimated oil production from our net proved developed producing reserves ( as of december 31 , 2015 ) through december 31 , 2016 , and 29 % in 2017. by removing a portion of price volatility on our future oil and gas production , we believe we will mitigate , but not eliminate , the potential effects of changing commodity prices on our cash flow from operations for those periods . however , when prevailing market prices are higher than our contract prices , we will not realize increased cash flow on the portion of the production that has been hedged . we have in the past and will in the future sustain realized and unrealized losses on our derivative contracts if market prices are higher than our contract prices . conversely , when prevailing market prices are lower than our contract prices , we will sustain realized and unrealized gains on our commodity derivative contracts . in 2013 , we incurred a net loss of $ 2.5 million , consisting of a loss of $ 5.0 million related to closed contracts and a gain of $ 2.5 million related to open contracts . in 2014 , we incurred a gain of $ 25.2 million , consisting of a gain of $ 0.3 million on closed contracts and a gain of $ 24.9 million related to open contracts . in 2015 we incurred a gain of $ 19.3 million , consisting of a gain of $ 9.5 million on closed contracts and a gain of $ 9.8 million related to open contracts . we have not designated any of these derivative contracts as a hedge as prescribed by applicable accounting rules . the following table sets forth our derivative contracts at december 31 , 2015 : fixed price swaps : replace_table_token_15_th collar contracts combined with short puts ( three way collars ) : daily volume ( bbl ) floor ( long put ) ceiling ( short call ) short put 2016 1,000 $ 60.00 $ 71.00 $ 45.00 at december 31 , 2015 , the aggregate fair market value of our commodity derivative contracts was an asset of approximately $ 27.4 million . production volumes . our proved reserves will decline as oil and gas is produced , unless we find , acquire or develop additional properties containing proved reserves or conduct successful exploration and development activities . based on the reserve information set forth in our reserve estimates as of december 31 , 2015 , our average annual estimated decline rate for our net proved developed producing reserves is 33 % ; 26 % ; 15 % ; 11 % and 10 % in 2017 , 2018 , 2019 , 2020 and 2021 , respectively , 10 % in the next five years , and approximately 12 % thereafter . these rates of decline are estimates and actual production declines could be materially higher . while we have had some success in finding , acquiring and developing additional reserves , we have not always been able to fully replace the production volumes lost from natural field declines and property sales . story_separator_special_tag as of december 31 , 2014 the net capitalized cost of our oil and gas properties did not exceed the present value of our estimated proved reserves . as of december 31 , 2015 , the net capitalized cost of our oil and gas properties exceeded the present value of our estimated proved reserves , resulting in the recognition of an impairment of $ 128.6 million in 2015. the year-end amount was calculated in accordance with sec rules utilizing the twelve month first-day-of-the-month average oil and gas prices for the year ended 2015 which were $ 50.12 per bbl for oil and $ 2.63 per mcf for gas as adjusted to reflect the expected realized prices for our oil and gas reserves . we expect to record an additional impairment of our oil and gas properties during 2016 as a result of declining oil and gas prices . based on the 12-month unweighted average oil and gas prices through march 1 , 2016 of $ 46.04 per bbl of oil and $ 2.48 per mcf of gas being held constant for the trailing 12-month period we estimate that we will record a ceiling test write down on our existing assets of approximately $ 30.1 million at march 31 , 2016 and if such prices do not change during the remainder of 2016 an additional write down of $ 72.7 million for the remainder of the year ending december 31 , 2016. however , whether the amount of any such impairments will be similar in amount to such estimates , is contingent upon many factors such as the price of oil , gas and ngls for the remainder of 2016 , increases or decreases in our reserve base , changes in estimated costs and expenses , and oil and gas property acquisitions , which could increase , decrease or eliminate the need for such impairments . comparison of year ended december 31 , 2014 to year ended december 31 , 2013 operating revenue . during the year ended december 31 , 2014 , operating revenue increased to $ 133.7 million from $ 92.3 million in 2013. the increase in revenue was primarily due to a 68 % increase in oil sales volumes in 2014 as compared to 2013 , offset by lower realized prices for oil and ngl prices . gas sales volumes were down by approximately 13 % ; however the decrease in gas volumes was offset by higher realized gas prices . we also had a significant increase in ngl sales volumes in 2014 as compared to 2013 , which was partially offset by lower realized ngl prices . increased sales volumes of oil and ngl contributed $ 54.0 million to operating revenue . lower gas sales volumes had a negative impact on operating revenue of $ 1.4 million . higher realized prices for gas contributed $ 2.6 million to operating revenue , while lower oil and ngl prices had a negative impact on revenue of $ 13.9 million in 2014. oil sales volumes increased to 1,394 mbbls for the year ended december 31 , 2014 from 829 mbbls for the same period of 2013. the increase in oil sales volumes was due to new production brought on line in 2014. new wells brought onto production in 2014 contributed 722 mbbls to production for the year ended december 31 , 2014 , offset by natural field declines and property sales . gas sales volumes decreased to 2,918 mmcf for the year ended december 31 , 2014 from 3,343 mmcf for the year ended december 31 , 2013. the decrease in gas production was due to natural field declines ; the timing of new wells being brought on line , property sales , as well as our emphasis on drilling oil wells as opposed to gas wells . new wells brought onto production during 2014 contributed 594 mmcf to production for the year ended december 31 , 2014. due to continued weakness in gas prices , our focus during 2014 was primarily on oil and ngl projects . ngl sales increased to 207 mbbls for the year ended december 31 , 2014 from 147 mbbls for the same period of 2013. the increase in ngl sales was primarily due to increased gas production from fields in west texas , wyoming and north dakota that have a higher ngl content than our historical gas production . lease operating expenses . loe for the year ended december 31 , 2014 increased to $ 25.9 million from $ 23.2 million in 2013. the increase in loe was primarily due to increased cost of services , and significant non-recurring loe . the increase was partially offset by sales of producing properties in 2013 , which had higher operating costs . loe per boe for the year ended december 31 , 2014 was $ 12.39 compared to $ 15.13 for the same period of 2013. the decrease in loe per boe was attributable to higher sales volumes in 2014 , partially offset by higher costs . production and ad valorem taxes . production and ad valorem taxes for the year ended december 31 , 2014 increased to $ 11.5 million from $ 8.4 million in 2013. the increase was primarily due to increased production in 2014 as compared to 2013. production and ad valorem taxes as a percentage of oil and gas revenue remained constant at approximately 9 % for the years ended december 31 , 2014 and 2013 . 48 general and administrative expense . g & a expense , excluding stock-based compensation , increased to $ 10.7 million for the year ended december 31 , 2014 from $ 9.9 million in 2013. g & a expense per boe was $ 5.11 for the year ended december 31 , 2014 compared to $ 6.45 for the same period of 2013. the increase in g & a was primarily due to additional personnel and salary increases . stock-based compensation . options granted to employees and

