Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 5,671 $ 23,666
Receivables:    
Oil and natural gas sales 51,957 67,242
Joint interest and other 32,608 43,645
Total receivables 84,565 110,887
Deferred income taxes 6,820 11,662
Prepaid expenses and other assets 27,290 36,347
Total current assets 124,346 182,562
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $110,400 at June 30, 2015 and $109,824 at December 31, 2014 were excluded from amortization) 8,207,165 8,045,666
Furniture, fixtures and other 23,981 23,269
Total property and equipment 8,231,146 8,068,935
Less accumulated depreciation, depletion and amortization 6,306,119 5,575,078
Net property and equipment 1,925,027 2,493,857
Restricted deposits for asset retirement obligations 15,538 15,444
Other assets 20,066 17,244
Total assets 2,084,977 2,709,107
Current liabilities:    
Accounts payable 135,165 194,109
Undistributed oil and natural gas proceeds 29,693 37,009
Asset retirement obligations 41,494 36,003
Accrued liabilities 13,120 17,377
Total current liabilities 219,472 284,498
Long-term debt, less current maturities 1,468,870 1,360,057
Asset retirement obligations, less current portion 348,573 354,565
Deferred income taxes 34,290 186,988
Other liabilities $ 14,560 $ 13,691
Commitments and contingencies
Shareholders’ equity:    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at June 30, 2015 and December 31, 2014
Common stock, $0.00001 par value; 118,330,000 shares authorized; 78,879,727 issued and 76,010,554 outstanding at June 30, 2015; 78,768,588 issued and 75,899,415 outstanding at December 31, 2014 $ 1 $ 1
Additional paid-in capital 420,028 414,580
Retained earnings (deficit) (396,650) 118,894
Treasury stock, at cost (24,167) (24,167)
Total shareholders’ equity (deficit) (788) 509,308
Total liabilities and shareholders’ equity $ 2,084,977 $ 2,709,107