Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.3.0.814
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 8,367 $ 23,666
Receivables:    
Oil and natural gas sales 46,121 67,242
Joint interest and other 29,300 43,645
Total receivables 75,421 110,887
Deferred income taxes 3,196 11,662
Prepaid expenses and other assets 18,842 36,347
Total current assets 105,826 182,562
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $110,704 at March 31, 2015 and $109,824 at December 31, 2014 were excluded from amortization) 8,133,244 8,045,666
Furniture, fixtures and other 23,495 23,269
Total property and equipment 8,156,739 8,068,935
Less accumulated depreciation, depletion and amortization 5,955,539 5,575,078
Net property and equipment 2,201,200 2,493,857
Restricted deposits for asset retirement obligations 15,501 15,444
Other assets 16,534 17,244
Total assets 2,339,061 2,709,107
Current liabilities:    
Accounts payable 128,277 194,109
Undistributed oil and natural gas proceeds 29,171 37,009
Asset retirement obligations 16,500 36,003
Accrued liabilities 28,220 17,377
Total current liabilities 202,168 284,498
Long-term debt, less current maturities 1,426,437 1,360,057
Asset retirement obligations, less current portion 364,723 354,565
Deferred income taxes 74,875 186,988
Other liabilities $ 13,900 $ 13,691
Commitments and contingencies
Shareholders’ equity:    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at March 31, 2015 and December 31, 2014
Common stock, $0.00001 par value; 118,330,000 shares authorized; 78,805,904 issued and 75,936,731 outstanding at March 31, 2015; 78,768,588 issued and 75,899,415 outstanding at December 31, 2014 $ 1 $ 1
Additional paid-in capital 417,325 414,580
Retained earnings (accumulated deficit) (136,201) 118,894
Treasury stock, at cost (24,167) (24,167)
Total shareholders’ equity 256,958 509,308
Total liabilities and shareholders’ equity $ 2,339,061 $ 2,709,107