Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v2.4.1.9
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2014
FAIR VALUE MEASUREMENTS [Abstract]  
Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following items are measured at fair value on a recurring basis at December 31, 2014 and 2013:

   
Fair Value Measurements Using
 
December 31, 2014
 
Total
   
Level 1
   
Level 2
   
Level 3
 
   
(thousands of dollars)
 
Liabilities:
                       
Interest rate swap
  $ 378     $ -     $ 378     $ -  
Commodity financial instruments
    180       180                  


 
   
Fair Value Measurements Using
 
December 31, 2013
 
Total
   
Level 1
   
Level 2
   
Level 3
 
   
(thousands of dollars)
 
Liabilities:
                       
Interest rate swap
  $ 563     $ -     $ 563     $ -  
Commodity financial instruments
    48       48       -       -