Balance Sheet

v3.26.1

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 140,558	$ 109,003
Restricted cash	62	1,552
Accounts receivable:
Oil, natural gas liquids and natural gas sales	59,633	63,558
Joint interest, net	24,473	25,841
Prepaid expenses and other current assets	14,543	18,504
Total current assets	239,269	218,458
Oil and natural gas properties and other, net	662,082	777,741
Restricted deposits for asset retirement obligations	24,026	22,730
Deferred income taxes	35	48,808
Other assets	30,395	31,193
Total assets	955,807	1,098,930
Current liabilities:
Accounts payable	98,406	83,625
Accrued liabilities	39,809	33,271
Undistributed oil and natural gas proceeds	59,065	53,131
Advances from joint interest partners	2,394	2,443
Current portion of asset retirement obligations	26,147	46,326
Current portion of long-term debt, net	8,458	27,288
Total current liabilities	234,279	246,084
Asset retirement obligations	535,704	502,506
Long-term debt, net	342,355	365,935
Other liabilities	15,781	16,182
Commitments and contingencies	27,440	20,800
Shareholders' deficit:
Preferred stock: $0.00001 par value; 20,000 shares authorized; no shares issued
Common stock: $0.00001 par value; 400,000 shares authorized; 151,647 shares and 150,243 shares issued, respectively	2	2
Additional paid-in capital	604,732	595,407
Retained deficit	(780,319)	(623,819)
Treasury stock: 2,869 shares, at cost	(24,167)	(24,167)
Total shareholders' deficit	(199,752)	(52,577)
Total liabilities and shareholders' deficit	$ 955,807	$ 1,098,930

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Financial Information

Source