Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 177,389 $ 461,357
Restricted cash 4,417 4,417
Receivables:    
Oil and natural gas sales 45,525 66,146
Joint interest, net 17,116 14,000
Total receivables 62,641 80,146
Prepaid expenses and other assets (Note 1) 22,483 24,343
Total current assets 266,930 570,263
Oil and natural gas properties and other, net (Note 1) 724,025 735,215
Restricted deposits for asset retirement obligations 21,565 21,483
Deferred income taxes 52,884 57,280
Other assets (Note 1) 44,897 47,549
Total assets 1,110,301 1,431,790
Current liabilities:    
Accounts payable 75,979 65,158
Undistributed oil and natural gas proceeds 31,678 41,934
Advances from joint interest partners 3,160 3,181
Asset retirement obligations 9,859 25,359
Accrued liabilities (Note 1) 26,215 74,041
Current portion of long-term debt, net 30,801 582,249
Income tax payable 4,655 412
Total current liabilities 182,347 792,334
Long-term debt (Note 2)    
Principal 381,027 114,158
Unamortized debt issuance costs (8,554) (2,970)
Long-term debt, net (Note 2) 372,473 111,188
Asset retirement obligations, less current portion 459,347 441,071
Other liabilities (Note 1) 41,998 59,134
Deferred income taxes 72 72
Commitments and contingencies (Note 11) 19,226 20,357
Shareholders' equity:    
Preferred stock, $0.00001 par value; 20,000 shares authorized; none issued at March 31, 2023 and December 31, 2022
Common stock, $0.00001 par value; 200,000 shares authorized; 149,330 issued and 146,461 outstanding at March 31, 2023; 149,002 issued and 146,133 outstanding at December 31, 2022 1 1
Additional paid-in capital 577,787 576,588
Retained deficit (518,783) (544,788)
Treasury stock, at cost; 2,869 shares at March 31, 2023 and December 31, 2022 (24,167) (24,167)
Total shareholders' equity 34,838 7,634
Total liabilities and shareholders' equity $ 1,110,301 $ 1,431,790