Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 70,236 $ 85,414
Receivables:    
Oil and natural gas sales 43,073 35,005
Joint interest 21,885 22,000
Insurance reimbusrements 30,100 12
Income tax 11,943  
Total receivables 107,001 57,017
Prepaid expenses and other assets 14,504 26,879
Total current assets 191,741 169,310
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $0 at December 31, 2016 and $18,595 at December 31, 2015 were excluded from amortization) 7,932,504 7,902,494
Furniture, fixtures and other 20,898 20,802
Total property and equipment 7,953,402 7,923,296
Less accumulated depreciation, depletion and amortization 7,406,349 6,933,247
Net property and equipment 547,053 990,049
Deferred income taxes   27,595
Restricted deposits for asset retirement obligations 27,371 15,606
Income tax receivables 52,097  
Other assets 11,464 5,462
Total assets 829,726 1,208,022
Current liabilities:    
Accounts payable 81,039 109,797
Undistributed oil and natural gas proceeds 26,254 21,439
Asset retirement obligations 78,264 84,335
Long-term debt 8,272  
Accrued liabilities 9,200 11,922
Total current liabilities 203,029 227,493
Long-term debt, less current portion 1,012,455 1,196,855
Asset retirement obligations, less current portion 256,174 293,987
Other liabilities 17,105 16,178
Commitments and contingencies (Notes 15 and 17)
Shareholders’ equity (deficit):    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at December 31, 2016 and 2015
Common stock, $0.00001 par value; 200,000,000 shares authorized; 140,543,545 issued and 137,674,372 outstanding at December 31, 2016; 79,375,662 issued and 76,506,489 outstanding at December 31, 2015 1 1
Additional paid-in capital 539,973 423,499
Retained earnings (deficit) (1,174,844) (925,824)
Treasury stock, at cost; 2,869,173 shares at December 31, 2016 and 2015 (24,167) (24,167)
Total shareholders’ equity (deficit) (659,037) (526,491)
Total liabilities and shareholders’ equity (deficit) $ 829,726 $ 1,208,022