of the approximately 8,000 remaining total net undeveloped acres prospective for the eagle ford , upper eagle ford , austin chalk and possibly other objectives , only 2,400 net acres could expire in 2016. we anticipate that our current and future drilling plans , along with the selected lease extensions , will address the majority of the lease expirations . 42 for 2016 , it is our intent t o conduct our operations within our available cash flows . to that end , we have temporarily suspended drilling and completion operations and , in relation to general and administrative costs , we reduced our head count and salaries . generally , base salaries h ave been reduced 10 % and we have reduced certain benefits . further , we do not intend to pay cash bonuses during 2016. our actions are in direct response to continuing poor commodity prices . while we have made appropriate adjustments , we have also maintain ed a positive corporate culture and retained an outstanding staff . while conducting operations within available cash flow , we will continue to pursue our business strategy . following is a brief outline of our current plans : · pursue attractive asset or corporate acquisitions ; · maintain and expand our acreage positions and drilling inventory ; · pending adequate commodity prices continue the development of our acreage positions in the eagle ford trend of south texas and in the williston basin of north dakota ; and · generate additional exploration and development projects ; and obtain additional capital as available and needed , or utilize our common stock for acquisitions . commodity prices : the upstream oil and natural gas business is cyclical and we are currently operating in a sustained lower commodity price environment . our consolidated average realized prices for fiscal year 2015 decreased 49 % for crude oil , 42 % for natural gas and 57 % for natural gas liquids as compared with 2014. these low prices resulted in a reduction in our capital spending program , had significant negative impacts on our revenues , profitability , cash flows and proved reserves , resulted in asset and goodwill impairments , caused us to execute certain organizational changes , and led to reductions in our stock price . thus far in 2016 , commodity prices have continued to trade in a low range , with crude oil prices falling below $ 30.00 per barrel on some occasions . if the industry downturn continues for an extended period , or becomes more severe , we could experience additional material negative impacts on our revenues , profitability , cash flows , liquidity , and reserves , and we could consider further reductions in our capital program . our production and our stock price could decline further as a result of these activities . see item 1a . risk factors , in this report for further discussion . results of operations year ended december 31 , 2015 , compared to the year ended december 31 , 2014 sales and other operating revenues the quantities of oil , natural gas , and natural gas liquids produced and sold , the average sales price per unit sold and our related revenues , exclusive of settlements related to derivative contracts for the years ended december 31 , 2015 and 2014 , are presented below : replace_table_token_14_th 43 replace_table_token_15_th ( 1 ) barrels of oil equivalent have been calculated on the basis of six thousand cubic feet ( mcf ) of natural gas equals one barrel of oil equivalent ( boe ) . this ratio does not assume price equivalency and , given price differentials , the price per barrel of oil equivalent for natural gas may differ significantly from the price for a barrel of oil . ( 2 ) amounts exclude the impact of cash paid/received on settled derivative contracts as we did not elect to apply hedge accounting . our derivatives for 2015 and 2014 have been marked-to-market through our consolidated statements of operations as other income/expense : which means that all our realized gains/losses on these derivatives are reported in other income/expense . for further information see the net gain on derivative contracts discussed below . sale of oil for the year ended december 31 , 2015 , oil revenues increased by $ 5.1 million or 15 % relative to the comparable period in 2014. of the increase , $ 22.1 million was attributable to increased volume , which was offset by $ 17.0 million attributable to a decrease in our realized price . the volume of oil we produced and sold increased by 501 mbbls ; 317 mbbls were provided by our operated eagle ford property as a result of additional production from new wells drilled and completed during 2015 as well as the additional interests we acquired in late 2014 pursuant to the contribution agreement ; 212 mbbls of the total increase were provided by the legacy earthstone assets . these significant increases were partially offset by production declines at our non-operated eagle ford property and variability in sales volumes in our conventional properties in texas . our average realized price per bbl decreased from $ 86.29 for the year ended december 31 , 2014 to $ 44.09 or 49 % for the year ended december 31 , 2015. sale of natural gas for the year ended december 31 , 2015 , natural gas revenues decreased by $ 3.9 million or 42 % relative to the comparable period in 2014. substantially all of the $ 3.9 million decrease was attributable to the decrease in our realized price . the total volume of natural gas produced and sold remained relatively consistent and increased by only 11 mmcf in total . story_separator_special_tag lease operating expenses replace_table_token_23_th total loe increased by $ 1.7 million or 20 % for the year ended december 31 , 2014 relative to the comparable period in 2013. the increase in loe was primarily due to our operated eagle ford properties . on a unit-of-production basis , loe , excluding ad valorem taxes and accretion expense , has remained relatively consistent , increasing by only $ 0.12 per boe from $ 10.59 in 2014 to $ 10.47 in 2013. the additional interests that we acquired in our operated eagle ford property during december 2014 accounted for $ 50,000 of the total increase while the legacy earthstone assets accounted for $ 53,000 of the increase . severance taxes severance taxes increased by $ 0.8 million or 63 % for the year ended december 31 , 2014 relative to the comparable period in 2013. the increase in severance taxes was primarily due to increased production from our operated eagle ford property . the interest in this property that we acquired during 2013 accounted for $ 0.9 million of the total increase while the additional interest we acquired in december 2014 added $ 30,000. the legacy earthstone assets added an additional $ 35,000. these increases were offset by decreases on our non-operated eagle ford property . as a percentage of revenues from oil , natural gas , and natural gas liquids , severance taxes increased from 4.13 % to 4.20 % . 49 re-engineering and workovers re-engineering and workover expenses increased $ 0.4 million or 107 % for the year ended december 31 , 2014 relative to the comparable period in 2013. during 2014 , we began completing several projects associated with integrating the interests we acquired during 2013 in our operated eagle ford property into our operations and reducing the rate at which those wells decline . general and administrative expenses g & a expenses increased by $ 0.1 million from $ 7.8 million to $ 7.9 million for the year ended december 31 , 2014 relative to the comparable period in 2013. the increase was due to increased headcount and strategic combination related costs but was largely offset by increased overhead cost re-imbursements provided for in our joint operating agreements on the properties we operate . depreciation , depletion and amortization and impairment expense replace_table_token_24_th dd & a increased in 2014 by $ 1.3 million , or 8 % compared to 2013 , due to property additions related primarily to drilling and completion expenditures and increased production during the year ended december 31 , 2014 , as compared to the same period in 2013. however , on a unit-of-production basis , dd & a decreased to $ 20.88 per boe during 2014 from $ 23.22 per boe during 2013. despite an increase in capitalized property costs , dd & a on a per boe basis decreased . reserves in our operated eagle ford properties increased significantly , which helped to bring the per boe rate down , due to successful drilling in the area which resulted in additional proved reserves . we were also able to decrease the rate per boe due to improved drilling and completion efficiencies and resultant improvement on finding and development costs on a per boe basis . the additional interest we acquired in our operated eagle ford properties during december 2014 and the legacy earthstone assets increased dd & a by $ 0.1 million and $ 0.1 million , respectively . impairment during the year ended december 31 , 2014 , we incurred impairment charges of $ 19.4 million , which consisted of $ 2.5 million on unproved properties and $ 16.9 million on proved properties . the impaired unproved properties consisted of acreage throughout milam county , texas . the impairment on proved properties primarily resulted from capitalized costs in excess of the fair market value for oak valley 's non-operated eagle ford property and its grayson county property . during the year ended december 31 , 2013 , we incurred impairment charges of $ 12.3 million which consisted of $ 2.5 million on unproved properties and $ 9.8 million on proved properties . the impaired unproved properties primarily consisted of acreage throughout oklahoma and in milam county , texas . the impairment on proved properties resulted from capitalized costs in excess of the fair market value of our non-operated eagle ford property , our milam county property and one of our east texas properties . interest expense interest expense includes commitment fees , amortization of deferred financing costs , and interest on outstanding indebtedness . debt outstanding as of december 31 , 2014 and december 31 , 2013 was $ 11.2 million and $ 10.8 million , respectively . interest expense increased from $ 0.5 million for the year ended december 31 , 2013 to $ 0.6 million for the year ended december 31 , 2014. the $ 0.1 million increase in interest expense was due to higher amortization of deferred financing costs and increased fees due to a larger credit facility and the accompanying larger unused commitment fees incurred during 2014 versus 2013. income tax expense as a result of the exchange , all historical financial information contained in this report is that of ovr and its subsidiaries . ovr , is a partnership for federal income tax purposes and is not subject to federal income taxes or state or local income taxes that follow the federal treatment , and therefore ovr does not pay or accrue for such taxes . pursuant to the exchange , oak valley has become a subsidiary of earthstone , a taxable entity ; as such we recorded tax expense during the year ended december 31 , 2014 . 50 net gain on derivative contracts during the year ended december 31 , 2014 , we recorded a net gain on derivative contracts of $ 4.4 million , consisting of net realized gains on settlements of $ 0.8 million and unrealized mark-to-market gains of $ 3.6 million .

liquidity and capital resources we have initiated multiple initiatives to reduce capital and operating costs in this low price environment . in the absence of commodity price improvement we intend to limit our capital expenditures to cash flows we can generate . we entered 2016 with an inventory of 12 wells waiting on completion operations . accordingly , should commodity prices increase we can quickly increase production and cash flows . we expect to finance future acquisition , development and exploration activities through available working capital , cash flows from operating activities , possible borrowings under our credit facility , sale of non-strategic assets , various means of corporate and project financing , and assuming we can access the capital markets , the issuance of additional equity securities . in addition , we may continue to partially finance our drilling activities through the sale of participating rights to industry partners or financial institutions , and we could structure such arrangements on a promoted basis , whereby we may earn working interests in reserves and production greater than our proportionate capital costs . financing activities for the year ended december 31 , 2015 , did not result in any equity contributions , while equity contributions for the years ended december 31 , 2014 , and 2013 were $ 106.9 million , and $ 107.5 million , respectively . senior secured revolving credit facility in december 2014 , we entered into a credit agreement providing for a $ 500.0 million four-year senior secured revolving credit facility ( the “ credit agreement ” ) with bokf , na dba bank of texas ( “ bank of texas ” ) , as agent and lead arranger , wells fargo bank , national association ( “ wells fargo ” ) , as syndication agent , and the lenders signatory thereto ( collectively with bank of texas and wells fargo , the “ lender ” ) . the current borrowing base under the credit agreement is $ 80.0 million and is subject to redetermination during may and november of each year .


 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 we have initiated multiple initiatives to reduce capital and operating costs in this low price environment . in the absence of commodity price improvement we intend to limit our capital expenditures to cash flows we can generate . we entered 2016 with an inventory of 12 wells waiting on completion operations . accordingly , should commodity prices increase we can quickly increase production and cash flows . we expect to finance future acquisition , development and exploration activities through available working capital , cash flows from operating activities , possible borrowings under our credit facility , sale of non-strategic assets , various means of corporate and project financing , and assuming we can access the capital markets , the issuance of additional equity securities . in addition , we may continue to partially finance our drilling activities through the sale of participating rights to industry partners or financial institutions , and we could structure such arrangements on a promoted basis , whereby we may earn working interests in reserves and production greater than our proportionate capital costs . financing activities for the year ended december 31 , 2015 , did not result in any equity contributions , while equity contributions for the years ended december 31 , 2014 , and 2013 were $ 106.9 million , and $ 107.5 million , respectively . senior secured revolving credit facility in december 2014 , we entered into a credit agreement providing for a $ 500.0 million four-year senior secured revolving credit facility ( the “ credit agreement ” ) with bokf , na dba bank of texas ( “ bank of texas ” ) , as agent and lead arranger , wells fargo bank , national association ( “ wells fargo ” ) , as syndication agent , and the lenders signatory thereto ( collectively with bank of texas and wells fargo , the “ lender ” ) . the current borrowing base under the credit agreement is $ 80.0 million and is subject to redetermination during may and november of each year .
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 Suspicious Activity Report : of the approximately 8,000 remaining total net undeveloped acres prospective for the eagle ford , upper eagle ford , austin chalk and possibly other objectives , only 2,400 net acres could expire in 2016. we anticipate that our current and future drilling plans , along with the selected lease extensions , will address the majority of the lease expirations . 42 for 2016 , it is our intent t o conduct our operations within our available cash flows . to that end , we have temporarily suspended drilling and completion operations and , in relation to general and administrative costs , we reduced our head count and salaries . generally , base salaries h ave been reduced 10 % and we have reduced certain benefits . further , we do not intend to pay cash bonuses during 2016. our actions are in direct response to continuing poor commodity prices . while we have made appropriate adjustments , we have also maintain ed a positive corporate culture and retained an outstanding staff . while conducting operations within available cash flow , we will continue to pursue our business strategy . following is a brief outline of our current plans : · pursue attractive asset or corporate acquisitions ; · maintain and expand our acreage positions and drilling inventory ; · pending adequate commodity prices continue the development of our acreage positions in the eagle ford trend of south texas and in the williston basin of north dakota ; and · generate additional exploration and development projects ; and obtain additional capital as available and needed , or utilize our common stock for acquisitions . commodity prices : the upstream oil and natural gas business is cyclical and we are currently operating in a sustained lower commodity price environment . our consolidated average realized prices for fiscal year 2015 decreased 49 % for crude oil , 42 % for natural gas and 57 % for natural gas liquids as compared with 2014. these low prices resulted in a reduction in our capital spending program , had significant negative impacts on our revenues , profitability , cash flows and proved reserves , resulted in asset and goodwill impairments , caused us to execute certain organizational changes , and led to reductions in our stock price . thus far in 2016 , commodity prices have continued to trade in a low range , with crude oil prices falling below $ 30.00 per barrel on some occasions . if the industry downturn continues for an extended period , or becomes more severe , we could experience additional material negative impacts on our revenues , profitability , cash flows , liquidity , and reserves , and we could consider further reductions in our capital program . our production and our stock price could decline further as a result of these activities . see item 1a . risk factors , in this report for further discussion . results of operations year ended december 31 , 2015 , compared to the year ended december 31 , 2014 sales and other operating revenues the quantities of oil , natural gas , and natural gas liquids produced and sold , the average sales price per unit sold and our related revenues , exclusive of settlements related to derivative contracts for the years ended december 31 , 2015 and 2014 , are presented below : replace_table_token_14_th 43 replace_table_token_15_th ( 1 ) barrels of oil equivalent have been calculated on the basis of six thousand cubic feet ( mcf ) of natural gas equals one barrel of oil equivalent ( boe ) . this ratio does not assume price equivalency and , given price differentials , the price per barrel of oil equivalent for natural gas may differ significantly from the price for a barrel of oil . ( 2 ) amounts exclude the impact of cash paid/received on settled derivative contracts as we did not elect to apply hedge accounting . our derivatives for 2015 and 2014 have been marked-to-market through our consolidated statements of operations as other income/expense : which means that all our realized gains/losses on these derivatives are reported in other income/expense . for further information see the net gain on derivative contracts discussed below . sale of oil for the year ended december 31 , 2015 , oil revenues increased by $ 5.1 million or 15 % relative to the comparable period in 2014. of the increase , $ 22.1 million was attributable to increased volume , which was offset by $ 17.0 million attributable to a decrease in our realized price . the volume of oil we produced and sold increased by 501 mbbls ; 317 mbbls were provided by our operated eagle ford property as a result of additional production from new wells drilled and completed during 2015 as well as the additional interests we acquired in late 2014 pursuant to the contribution agreement ; 212 mbbls of the total increase were provided by the legacy earthstone assets . these significant increases were partially offset by production declines at our non-operated eagle ford property and variability in sales volumes in our conventional properties in texas . our average realized price per bbl decreased from $ 86.29 for the year ended december 31 , 2014 to $ 44.09 or 49 % for the year ended december 31 , 2015. sale of natural gas for the year ended december 31 , 2015 , natural gas revenues decreased by $ 3.9 million or 42 % relative to the comparable period in 2014. substantially all of the $ 3.9 million decrease was attributable to the decrease in our realized price . the total volume of natural gas produced and sold remained relatively consistent and increased by only 11 mmcf in total . story_separator_special_tag lease operating expenses replace_table_token_23_th total loe increased by $ 1.7 million or 20 % for the year ended december 31 , 2014 relative to the comparable period in 2013. the increase in loe was primarily due to our operated eagle ford properties . on a unit-of-production basis , loe , excluding ad valorem taxes and accretion expense , has remained relatively consistent , increasing by only $ 0.12 per boe from $ 10.59 in 2014 to $ 10.47 in 2013. the additional interests that we acquired in our operated eagle ford property during december 2014 accounted for $ 50,000 of the total increase while the legacy earthstone assets accounted for $ 53,000 of the increase . severance taxes severance taxes increased by $ 0.8 million or 63 % for the year ended december 31 , 2014 relative to the comparable period in 2013. the increase in severance taxes was primarily due to increased production from our operated eagle ford property . the interest in this property that we acquired during 2013 accounted for $ 0.9 million of the total increase while the additional interest we acquired in december 2014 added $ 30,000. the legacy earthstone assets added an additional $ 35,000. these increases were offset by decreases on our non-operated eagle ford property . as a percentage of revenues from oil , natural gas , and natural gas liquids , severance taxes increased from 4.13 % to 4.20 % . 49 re-engineering and workovers re-engineering and workover expenses increased $ 0.4 million or 107 % for the year ended december 31 , 2014 relative to the comparable period in 2013. during 2014 , we began completing several projects associated with integrating the interests we acquired during 2013 in our operated eagle ford property into our operations and reducing the rate at which those wells decline . general and administrative expenses g & a expenses increased by $ 0.1 million from $ 7.8 million to $ 7.9 million for the year ended december 31 , 2014 relative to the comparable period in 2013. the increase was due to increased headcount and strategic combination related costs but was largely offset by increased overhead cost re-imbursements provided for in our joint operating agreements on the properties we operate . depreciation , depletion and amortization and impairment expense replace_table_token_24_th dd & a increased in 2014 by $ 1.3 million , or 8 % compared to 2013 , due to property additions related primarily to drilling and completion expenditures and increased production during the year ended december 31 , 2014 , as compared to the same period in 2013. however , on a unit-of-production basis , dd & a decreased to $ 20.88 per boe during 2014 from $ 23.22 per boe during 2013. despite an increase in capitalized property costs , dd & a on a per boe basis decreased . reserves in our operated eagle ford properties increased significantly , which helped to bring the per boe rate down , due to successful drilling in the area which resulted in additional proved reserves . we were also able to decrease the rate per boe due to improved drilling and completion efficiencies and resultant improvement on finding and development costs on a per boe basis . the additional interest we acquired in our operated eagle ford properties during december 2014 and the legacy earthstone assets increased dd & a by $ 0.1 million and $ 0.1 million , respectively . impairment during the year ended december 31 , 2014 , we incurred impairment charges of $ 19.4 million , which consisted of $ 2.5 million on unproved properties and $ 16.9 million on proved properties . the impaired unproved properties consisted of acreage throughout milam county , texas . the impairment on proved properties primarily resulted from capitalized costs in excess of the fair market value for oak valley 's non-operated eagle ford property and its grayson county property . during the year ended december 31 , 2013 , we incurred impairment charges of $ 12.3 million which consisted of $ 2.5 million on unproved properties and $ 9.8 million on proved properties . the impaired unproved properties primarily consisted of acreage throughout oklahoma and in milam county , texas . the impairment on proved properties resulted from capitalized costs in excess of the fair market value of our non-operated eagle ford property , our milam county property and one of our east texas properties . interest expense interest expense includes commitment fees , amortization of deferred financing costs , and interest on outstanding indebtedness . debt outstanding as of december 31 , 2014 and december 31 , 2013 was $ 11.2 million and $ 10.8 million , respectively . interest expense increased from $ 0.5 million for the year ended december 31 , 2013 to $ 0.6 million for the year ended december 31 , 2014. the $ 0.1 million increase in interest expense was due to higher amortization of deferred financing costs and increased fees due to a larger credit facility and the accompanying larger unused commitment fees incurred during 2014 versus 2013. income tax expense as a result of the exchange , all historical financial information contained in this report is that of ovr and its subsidiaries . ovr , is a partnership for federal income tax purposes and is not subject to federal income taxes or state or local income taxes that follow the federal treatment , and therefore ovr does not pay or accrue for such taxes . pursuant to the exchange , oak valley has become a subsidiary of earthstone , a taxable entity ; as such we recorded tax expense during the year ended december 31 , 2014 . 50 net gain on derivative contracts during the year ended december 31 , 2014 , we recorded a net gain on derivative contracts of $ 4.4 million , consisting of net realized gains on settlements of $ 0.8 million and unrealized mark-to-market gains of $ 3.6 million .

