Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 99,058 $ 70,236
Receivables:    
Oil and natural gas sales 45,443 43,073
Joint interest 19,754 21,885
Insurance reimbursement   30,100
Income taxes 13,006 11,943
Total receivables 78,203 107,001
Prepaid expenses and other assets (Note 1) 13,419 14,504
Total current assets 190,680 191,741
Oil and natural gas properties and other, net - at cost: (Note 1) 579,016 547,053
Restricted deposits for asset retirement obligations 25,394 27,371
Income tax receivables 52,097 52,097
Other assets (Note 1) 60,393 11,464
Total assets 907,580 829,726
Current liabilities:    
Accounts payable 83,665 81,039
Undistributed oil and natural gas proceeds 20,129 26,254
Asset retirement obligations 23,613 78,264
Long-term debt 22,925 8,272
Accrued liabilities (Note 1) 17,930 9,200
Total current liabilities 168,262 203,029
Long-term debt: (Note 2)    
Principal 889,790 873,733
Carrying value adjustments 79,337 138,722
Long term debt, less current portion - carrying value 969,127 1,012,455
Asset retirement obligations, less current portion 276,833 256,174
Other liabilities (Note 1) 66,866 17,105
Commitments and contingencies (Note 9)
Shareholders’ deficit:    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at December 31, 2017 and December 31, 2016
Common stock, $0.00001 par value; 200,000,000 shares authorized; 141,960,462 issued and 139,091,289 outstanding at December 31, 2017 and 140,543,545 issued and 137,674,372 outstanding at December 31, 2016 1 1
Additional paid-in capital 545,820 539,973
Retained earnings (deficit) (1,095,162) (1,174,844)
Treasury stock, at cost; 2,869,173 shares at December 31, 2017 and December 31, 2016 (24,167) (24,167)
Total shareholders’ equity (deficit) (573,508) (659,037)
Total liabilities and shareholders’ equity (deficit) $ 907,580 $ 829,726